Library Archives

 
Arman Sadeghi

Excellent service is indispensable to a hotel's reputation and success. That fact is the one thing - perhaps the only thing - that a hotel executive can refine without great cost.For service is both an attitude and a series of actions, starting with a personal investment by management and labor to do better; to do more; to learn more; to listen more; to achieve more; to grow more; to do more of everything, for everyone, by anyone who works for a hotel. Teaching these lessons to hoteliers is a chance to give them independent analysts. It is an opportunity for them to prosper. READ MORE

David Lund

As a professional coach, I have been introduced to a new leadership model at the Coaches Training Institute and in this article, I will explain the Co-Active Dimensional Leadership Modeltm and how it applies so well to hospitality. CTI developed this leadership model in addition to their Co-Activetm coaching model. Both are incredibly effective platforms for building teams and leaders that see our world as one that is being built on the efforts and creativity of everyone, not the traditional leader - servant model we sometimes cling to in hospitality. READ MORE

Stephen J. Renard

The hospitality industry is repeated history! Every time an issue surfaces no one takes notice and the episode is repeated over and over like a "broken record". Renard International has been in hospitality search for almost 50 years (yes- FIFTY) and so we have experienced the recessions of the 70's,80's, & 90's, we know when a recession occurs, the last measure companies take is to hire anyone! We also have seen generations of hoteliers leave or never join our business, Why? READ MORE

David Lund

When you have a team that manages the financial well being of your hotel across the dimensions of all the complex and different departments you have a developed an amazing power tool! One key crossover point is to have those department leaders and assistants know their key business indicator and apply it to their zero-based expenses and labor. The KBI power tool combines their costs with a measurable, trackable and meaningful volume number.  Read on to find out how you can create and use these in your hotel. READ MORE

Pamela Barnhill

Even though independent hotels consistently make the news, the concerns of the owners and managers of independent hotels are often overlooked. Many cite consolidation, low margins, distribution, loyalty programs, rising operational expenses and technology as some of their key issues. How are independent hotels meeting these challenges? With capital flush and entrepreneurs eager to enter the new peer-to-peer economy, the rise of fresh ventures has created a breadth of innovative, stimulating options for independent hoteliers. This is an exciting time for hotel owners who are ready and willing to embrace the changing landscape. READ MORE

David Lund

Hospitality Financial leadership is about making a new connection to the skills, talents and passion that managers have with guest service and college engagement and attaching that connection directly to their third power - their financial power. It's true what we say in our industry, look after the guests and the money will look after itself but only when we invest in financial leadership does this really ring true. Today we want financially engaged leadership teams across the board and building the team that has all three skills is paramount to your business success. That's Hospitality Financial Leadership, a management style that embraces guest service, colleague engagement and a superior return on investment by letting the team develop and use their natural financial talents. READ MORE

Ken Edwards

As hospitality industry executives, being an effective leader is essential for running our companies successfully and promoting a positive work environment for higher productivity and lower attrition rates among our employees. We learn about, and encounter, effective leadership skills from a variety of avenues such as books/articles, first hand experience, education classes, peer discussions, etc. What we don't hear as much about is how important strong management skills are to the organization. For any business to really thrive, consideration of both skill sets is necessary, especially in hospitality. READ MORE

Richard Takach, Jr.

In this article, we will consider some of the values, attitudes and skills it takes to be an effective leader in the hospitality sector, striving to form a lasting culture of service, teamwork and excellence. Furthermore, such a discussion will help illuminate what hospitality leaders might look for or consider as they nurture a next generation of leaders for their industry. In this way, we turn the mirror upon ourselves, prompting us to rethink our own capabilities, principles and sense of purpose as leaders. READ MORE

Kevin Wilhelmsen

Many of today's largest and most successful companies started as nothing more than an idea, backed by a person brave enough to take the leap and follow a dream. Often companies have no further to look than their own workforces to find innovators who will push them forward. They are called "intrapreneurs," and despite their impact on business and culture, managers often struggle to identify and grow these passionate individuals who are hard-working and filled with ideas that could drive positive change. READ MORE

Lizz Chambers

So much of what we do as hotel managers boils down to how we treat our team members. Not only must we be good role models, but we must also be observant and correct bad behavior before it turns into a habit. Three scenarios are presented to illustrate how overlooking certain actions may have negative consequences. From there, steps are outlined to help managers effectively coach their associates and ensure that all parties perform optimally from then on. READ MORE

Ashish Modak

A hotel manager's job has never been simple. The more so in these changing times. More vocal clientele, the advent of social media and changing attitudes of the humanity at large means more possibilities of suffering very harsh verbal abuse from unhappy customers. How does a hotel manager cope up with this without letting his personal ego suffer and without letting his peace of mind be affected beyond a point? The article narrates a true story and a genuine attempt at separating work persona from personal ego leading to less stress and better results. READ MORE

Ashish Modak

Steve Jobs has been an icon for millions and even after his death continues to inspire many around the world. 'Apple' brought in a revolution from the very beginning in everything it did. Steve Jobs and his beliefs and practices remain very relevant even today in the ever-evolving hospitality industry. This essay elaborates on some of the guiding principles followed by Jobs in his career and their correlation with the hotel industry with apt real life case studies from a luxury resort in the Indian Ocean island of Mauritius. His legendary address at Stanford is the basis of this article. READ MORE

Richard Takach, Jr.

In today's hospitality industry we work with a broader age range of individuals—leadership, staff and guests—than perhaps ever before. It's not uncommon for a freshly trained 20-year-old employee at a hotel property to serve a guest in his or her late 80s or even 90s. At the reverse spectrum, staff members in their 60s or beyond may be called upon to "hold the door" for a 25-year-old entrepreneur walking in with only a shoulder pack.Nor surprisingly, each generation or demographic group comes to those encounters with differing levels of experiences, skill sets and expectations. In this article, we consider the impact of generational change on our hospitality organizations. Generalizations are just that and so require care in their making but we will be considering some issues or trends that are definitely influenced by age. READ MORE

Stephen Hall

Several surveys conducted over the years by the author from several hundred hotel managers indicated strong interest in the practice of ethics by employees at every level. Managers believe a comprehensive program of ethics would greatly benefit the bottom line by enhancing repeat business and word-of-mouth advertising. Yet fewer than 10% of the hotels surveyed indicated they have a program of ethics in place. The basic question is " why, if the need is so great, are there so few hotels with a program for ethics?" READ MORE

Richard Takach, Jr.

In today's swirling economy and society, achieving and spreading meaningful identity and culture for our hospitality organization is an ongoing challenge. Externally, we must address the demands of diverse audiences that include our competitors, consumers, elected officials, business leaders and community leaders Competitive forces or factors include the advent of multiple instantaneous, digital platforms for advertising, reservations and group sales, and critique of our product. Internally, we must address our investors, strategic partners and team of key leadership, managers and staff. Into this mix, we add the franchise affiliations, or flags, with which most all hospitality management and investor groups partner. READ MORE

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Coming up in October 2020...

Revenue Management: Maximizing Profit

Hotel Revenue Management continues to evolve at a blistering pace. Driven by technological innovation and new distribution channels, there are some dynamic opportunities for expansion in this fast-growing field. The technology is primarily designed to help revenue managers further refine their operations and pricing models to maximize hotel profit. For example, hotels can't be all things to all people, so a key strategy is to precisely identify their target audience. By employing geo-targeting techniques and analyzing behavior such as previous bookings, on-property purchases and online shopping practices, there is an increased capability to define guest demographics. By segmenting customers in more specific ways, hotels are able to create more personalized experiences which, in turn, allow managers to optimize their room rates. It is also an effective way to fulfill the unique needs and preferences of the individual. Another methodology is to consistently monitor the competition's pricing strategies. There are software tools that analyze a competitor's current rates, and then allow a hotel to make its own pricing adjustments. It is also a useful means to conduct forecasting models. Other technologies that are being integrated into a revenue manager's toolkit include Artificial Intelligence in the form of automated algorithms, and Voice Recognition (VR) for data inquiries, rate changes, and booking behavior. Predictive and analytic software programs are also being leveraged to provide more forward-looking data, instead of the usual reliance on historical performance. These metrics allow managers to be more proactive - rather than reactive - with their revenue strategy. The October issue of the Hotel Business Review will examine these developments and report on how some leading hotels are executing their revenue management strategies.