Given the complexity of running a successful operation today, there are many ways a hotel can find itself in trouble and in need of outside help. Some pretty obvious indicators that things aren't going very well might include:

That last one is really a quote from Albert Einstein, so I really can't say it's an original thought. And as far as I know, Dr. Einstein did not own or operate a hotel. But the simplicity of his words suggest that when things are not going as expected it's a good time to seek out fresh thinking and address issues affecting the business; what are the current market conditions, how have they changed over time, and how is the property responding to them? What has the competitive set done that in some way threatens or jeopardizes the business long-term? What do your customers think, feel, and believe about your brand?

Being prepared, a decree not exclusive to the Boy Scouts, works well in planning for the ups and downs of running a hotel operation. Having a solid sales and marketing effort supporting all revenue generating areas and reacting to current market conditions affecting the hotel is fundamental. But protecting the reputation of the ...