Editorial Board   Guest Author

Mr. Olsen

Derek Olsen

Senior Vice President, CHMWarnick

Derek Olsen, is a Senior Vice President of CHMWarnick, the leading hotel asset management and owner advisory services firm. Mr. Olsen brings more than 20 years' hospitality advisory and asset management experience and a master's degree in real estate to CHMWarnick. Olsen brings expertise in the areas of hotel/portfolio valuation, cash flow analyses, market and industry trends and special projects focused on increasing profitability. Mr. Olsen is an integral member of CHMWarnick's asset management and transaction team, and has personally underwritten more than 300 hotel acquisition deals, many representing complex transactions with significant development and reprogramming elements. Mr. Olsen has extensive financial modeling and valuation experience, and has identified significant value enhancement opportunities through operational initiatives, lease negotiations and redevelopment strategies. His experience spans a broad range of land uses including hotels and resorts, luxury condominiums, condo-hotels, fractional, time-share, whole-ownership residences and golf courses. He has a Bachelor of Science in Hospitality Management from Cornell University, and a Master of Science in Real Estate from Massachusetts Institute of Technology.

Please visit https://www.CHMWarnick.com for more information.

Mr. Olsen can be contacted at 978-522-7000 or dolsen@chmwarnick.com

Coming up in April 2019...

Guest Service: A Culture of YES

In a recent global consumers report, 97% of the participants said that customer service is a major factor in their loyalty to a brand, and 76% said they view customer service as the true test of how much a company values them. And since there is no industry more reliant on customer satisfaction than the hotel industry, managers must be unrelenting in their determination to hire, train and empower the very best people, and to create a culture of exceptional customer service within their organization. Of course, this begins with hiring the right people. There are people who are naturally service-oriented; people who are warm, empathetic, enthusiastic, pleasant, thoughtful and optimistic; people who take pride in their ability to solve problems for the hotel guests they are serving. Then, those same employees must be empowered to solve problems using their own judgment, without having to track down a manager to do it. This is how seamless problem solving and conflict resolution are achieved in guest service. This willingness to empower employees is part of creating a Culture of Yes within an organization.  The goal is to create an environment in which everyone is striving to say “Yes”, rather than figuring out ways to say, “No”. It is essential that this attitude be instilled in all frontline, customer-facing, employees. Finally, in order to ensure that the hotel can generate a consistent level of performance across a wide variety of situations, management must also put in place well-defined systems and standards, and then educate their employees about them. Every employee must be aware of and responsible for every standard that applies in their department. The April issue of the Hotel Business Review will document what some leading hotels are doing to cultivate and manage guest satisfaction in their operations.