Focus on hotel guest experience and allow SIB to tackle troublesome spend areas.
Hotel management and team members dedicate the bulk of their time and resources to ensure guest satisfaction and manage daily operations. At SIB, we have the time, data, and market knowledge to effectively optimize and reduce hotel operating costs, including utility costs, treasury fees, payroll processing fees, and more without changing vendors, service levels, or operations. Our approach is frictionless with no drain on your team members or financial staff.
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21-24% Average Cost Savings Achieved for our hospitality industry clients.
In today’s dynamic hospitality landscape, where fluctuating costs can impact your bottom line, SIB offers a lifeline to hotels and resorts facing the challenge of rising operational expenses. Our expertise in cost reduction and vendor contract optimization is tailored to the unique needs of the hospitality industry, ensuring you can maintain the highest standards of guest experience without financial strain. We focused on hard-to-manage spend areas such as utilities, waste management, and telecom and consistently unlock an average of 21-24% in savings. This strategic approach improves profitability and enables you to remain competitive–ensuring your hotel or resort remains a preferred choice for guests, season after season.
Contact UsReduce hotel operating costs with no upfront investment. Our performance-based model means you pay only when we achieve and validate cost savings on your behalf.
Save money and reduce complexity without changing vendors, service levels, or operational processes. Our self-funded services means we only share in the savings we unlock.
Take advantage of our 500,000+ pricing benchmarks to promote more successful vendor negotiations and secure best-in-class rates, terms, and conditions.
Gain insights that inform better, faster business decision-making and more confidently optimize all aspects of your business services.
Our Hospitality Clients
Our Process
- Review Vendor Spend
We look at 12 months of indirect spend across all categories from your general ledger to give you the big picture view of your spend and identify high-potential savings areas. - Define the Scope and Roadmap
Decide which operating expenses you want to tackle first. We meet with internal stakeholders in each expense category to gather additional details and data and obtain authorization letters permitting us to work directly with your vendors. - Analyze, Negotiate, and Present the Opportunity
We thoroughly audit your spend, invoices, and contract terms and conditions, uncovering every area for cost savings and optimization with existing vendors and services. Upon request, we can also look at sourcing alternate vendors. You review the full scope of opportunities and decide which to approve and implement. - Implement Savings Strategies
We put new contracts and rates into effect and provide your internal teams with documentation of all new pricing agreements, terms, and conditions. When you save, we share a portion of the savings, so there are no upfront costs and no risks to you. - Validate Savings and Ensure Contract Compliance
We partner with you throughout the scope of your new contracts and service agreements to keep vendors in compliance, validate savings, and ensure you are receiving all negotiated services. We proactively look for new or additional savings opportunities to ensure best-in-market rates for the long term.
Spend Areas We Help
Utilities
Power up your business and bottom line with an average of 11% savings on electricity, natural gas, water, and propane, more reliable service, and reduced billing errors.
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Waste + Recycling
Save an average of 31% on solid waste, medical waste, compost, and recycling costs while improving ESG compliance through better program design, pricing, and management.
Waste + Recycling
Treasury Fees
Secure best-in-class pricing to reduce bank fees and merchant services by 27-34% while reducing risk and preserving existing banking relationships.
Treasury Fees + Merchant Services
Telecom
Reduce telecom expenses by an average of 28% with a rightsized network, competitive market rates and terms, and a proactive approach to eliminating common billing errors.
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Payroll Processing
Optimize your payroll processing solution to simplify and better meet your company’s human capital management needs while saving an average of 24%.
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Linen, Laundry, and Uniforms
Secure and validate the best prices and terms to improve your current service levels while reducing your linen, laundry, and uniform costs by an average of 26%.
Learn MoreSee what our clients say
“We were impressed by SIB’s meticulous process and the breadth of recommendations with savings in no fewer than eight different spend categories…SIB is perfectly suited to the hotel business and assorted vendor costs common to our industry.”
“SIB reviewed our monthly recurring costs, standardized services, and negotiated lower rates for waste removal, telecom, security systems, and maintenance contracts. They even secured significant funds from two class action settlements that spanned our portfolio.”
“SIB audited our NY and Miami locations…They identified billing errors and negotiated lower rates for our vendor services for telecom and pest control. We gladly recommend SIB to other hospitality groups.”
Resources and Case Studies
Take Control of Your Spend Today
Ready to reduce your costs across your top spend categories? Get started with a no risk, comprehensive evaluation of your vendor transaction history and put our market intelligence and industry expertise to work to spend smarter and improve your bottom line.
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