Editorial Board   Guest Author

Mr. Bailey

John Bailey

Chief Financial Officer, Prism Hotels & Resorts

John Bailey is the Chief Financial Officer (CFO) with Prism Hotels & Resorts, an award-winning, full-service hotel management, investment and advisory services company. As Prism's CFO, Mr. Bailey leads the various financial management functions of Prism's management and investment business, including risk management, legal, and receivership administration.

Mr. Bailey's professional responsibilities also include providing valuable support for Prism's new business development team, serving as a court-appointed restructuring officer for high profile bankruptcies, and serving in a leadership capacity as the chair of Prism's investment committee.

Prior to joining Prism, Mr. Bailey served as the Senior Vice President/Chief Accounting Officer for ClubCorp, Inc., a position where he was responsible for the accounting, financial planning and analysis, and human resources functions for the world's largest owner/operator of private golf and business clubs. He has also served as the Senior Vice President/Chief Financial Officer for HQ Global Workplaces, Inc., and as the Director of Finance and Vice President/Corporate Controller and Chief Accounting Officer for Bristol Hotels & Resorts.

With more than four decades of high-level accounting experience at a range of different positions in the industry, Mr. Bailey brings a rare combination of perspective and hands-on experiences to his work at Prism. His insight, expertise, and deep understanding of the financial contours and complexities of the hospitality sector are an invaluable asset to the organization.

A certified public accountant, Mr. Bailey graduated from Texas Tech University in 1979, where he earned a degree a Bachelor of Business Administration (BBA) in accounting.

Please visit http://www.prismhotels.com for more information.

Linkedin Profile: https://www.linkedin.com/in/john-bailey-ab326911/

Mr. Bailey can be contacted at +1 214-987-9300 or john.bailey@prismhotels.com

Coming up in March 2020...

Human Resources: Confronting a Labor Shortage

With the unemployment rate at its lowest level in decades (3.7%), what has always been a perennial problem for human resource professionals - labor shortage - is now reaching acute levels of concern. It is getting harder to find and recruit qualified applicants. Even finding candidates with the skills to succeed in entry-level positions has become an issue. In addition, employee turnover rates remain extremely high in the hotel industry. As a result of these problems, hotel HR managers are having to rethink their recruitment strategies in order to hire the right talent for the right job. First, hotels have been forced to raise their wages and offer other appealing perks, as a way to attract qualified candidates. Secondly, HR managers are reassessing their interviewing techniques, focusing less on the answers they receive to questions and more on observable behavior. Part of this process includes role-playing during the interview, so that the recruiter can gauge how a candidate works through specific problems and interacts with other team members. Additionally, some HR managers are also creating internal talent pools as a way to address labor shortages. Instead of utilizing department resources to find new hires with specific skills for needed positions, hotels are cultivating talent pools internally and preparing their employees to assume leadership roles whenever the time comes. They are also placing greater emphasis on a company culture that is more performance-based, as a way to curb employee turnover, increase employee satisfaction, and assure higher levels of customer service. Finally, recognizing the importance of employee retention as a way to lessen the impact of a tight labor market, some HR managers are instituting generous reward programs in order to retain their top performers. The March Hotel Business Review will explore what some HR professionals are doing to address these and other issues in their departments.