TRENDING
The architecture and design of the Octant Praia Verde blends into the tree-covered landscape of the Algarve region
WE ARE NOT LOCATED IN THE MOST OBVIOUS TOURISTIC PLACES , SO THE TEAM IS LOCAL , THE FOOD WE SOURCE IS LOCAL , AND THE EXPERIENCES WE DEVELOP ARE LOCAL .
– LUÍS MEXIA ALVES
benefits to the community and planet , but Alves says it is a vital part of the Octant brand identity . In addition to supporting artists and artisans , and the local environment , this policy extends to how they treat their employees , who are from the community .
“ We ’ re reviewing our HR policies so that we are focused on retention and developing and training people . When they bring revenue to the hotel , we up their salaries , making sure they ’ re getting a piece of the pie .”
Alves notes that having a strong employee-retention program is an important part of Octant ’ s focus on 24-hour service , which could create extra costs if not handled properly .
“ We have to be lean , and we have to be very strong ,” he says . “ Being a management company run by private equity , of course , we all have our standard budgeting , we have our approvals and reporting procedures . We have ratios and standards that are defined . And we are looking at results each and every month . So , we ’ re running very tight controls . We ’ re also asking how we can get more value for our guests to make them happier .”
The good news Alves says is that the guests they attract , largely from the U . K ., U . S . and Brazil , are willing to pay a premium for
The Octant Vila Monte in Southern Portugal
the services and experiences they offer and are equally willing to support the type of sustainability practices the brand promotes . He sees the positioning of the brand with affluent travelers will continue to attract well-heeled travelers as the company looks to find more distressed properties with potential – even in a market in which interest rates continue to rise and the economy slows .
“ I ’ m pretty optimistic to be honest with this upscale positioning ,” he says . “ Everything is running very strong . Of course , we ’ re not blind to what ’ s happening , and we ’ ve already made some contingency scenarios . We ’ re hoping for the best but getting ready for a slowdown of the economy . This is not something that will impact us like COVID .”
Alves adds that Octant is having a record year with especially strong business from April through July . “ We ’ re driving ADR with a very high percentage , and we have a lot of foreign guests coming in from the United States , Brazil and UK . We ’ re very , very happy ”