HOTEL BUSINESS REVIEW

March FOCUS: Hotel Human Resources

March 2021

The immense devastation suffered in the hotel industry last year has compounded a problem that human resource professionals will face once the market starts to recover in 2021 - a pending labor shortage. Though some hotels have done their best to retain employees or to ease the suffering caused by mass furloughs, staff reduction was inevitable and many of those employees may not be available to return when guest traffic picks up. Consequently, hotels will once again be competing to find and retain qualified talent to staff their operations. Naturally, companies will have to review their wage and benefits packages in order to remain competitive. They might also wholeheartedly embrace the work-from-home trend for some corporate positions. In addition, human resource professionals will also have to definitively convince frontline employees that their  hotels are safe to work in. The March Hotel Business Review will explore what some HR professionals are doing to address these and other employment issues in their respective departments.  


Run Date:   02/28/2021 - 03/27/2021
Editorial Deadline:   Wednesday, February 03, 2021
Advertising Deadline:   Wednesday, February 10, 2021
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Coming up in October 2021...

Revenue Management: Monetizing All Offerings


Of all the departments within hotel operations, Revenue Management may have been the hardest hit, due to the pandemic. The logic goes - no revenue, no need for revenue managers - so many industry professionals were furloughed. If business rebounds in 2021, as expected, then hotel management will have to determine when prevailing occupancy levels justify bringing back their revenue management team. Also, the pandemic seems to have exposed some weaknesses in the traditional RevPAR models. There is a growing understanding that it is no longer sufficient to use a "revenue per available room" model; instead, hotels are adopting a TRevPAR model (total revenue per available room). This model recognizes that revenue streams from other departments are just as important as the revenue gained from rooms. As a result, hotels are looking at ways to monetize any and all hotel offerings - from dining outlets and spas to outdoor function spaces and local partnerships. 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.