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Forward-Thinking Hotels and Casinos Take Control of the Silver Lining During Uncertain Times
Robb Monkmann | April 2, 2020
By Robb Monkmann Let’s face it, the countless 2020 industry predictions we read in December 2019 did not prepare us for this. Business school, quite frankly, couldn’t prepare us for this. Hoteliers, a few mere months ago, found themselves facing the year ahead with unbridled optimism. We relished in the promise of continued innovation, while hotels were poised to welcome an influx of eager travelers, and revenue projections boasted an upward trajectory. And now? We find ourselves in uncharted territory, facing — arguably — more uncertainty than we ever have before. Not to say COVID-19 is the first pandemic to impact the hospital
Covid-19: Impact on the Indian Hotels Sector
Mandeep S Lamba | April 2, 2020
By Mandeep S Lamba, Akash Datta, Dipti Mohan The world is still coming to terms with the Covid-19 outbreak and there is no doubt that the pandemic will change the world as we know it. With the globalized world going into partial or complete shutdown, the overall impact on human life, economic growth and businesses is immeasurable, both in the short term and long term due to the uncertainty as things evolve. While most Economists and Analysts currently expect the global economy to rebound, by some measure in the latter part of 2020, the exact timeline cannot be determined till the virus is contained across the globe. Nearer home, the
Wynn Resorts Extends Benefits for All North American Employees
Wynn Resorts | April 2, 2020
LAS VEGAS, April 2, 2020 -- Wynn Resorts (Nasdaq: WYNN), the world's leading resort company based in Las Vegas, Nevada, announced today that the Company will extend paying all salaried, hourly and part-time employees through May 15, for a total of 60 days of payroll continuance. The Company decided to take this action as part of its shared responsibility for the health and safety of its employees, their families and the Las Vegas and Greater Boston communities during this pandemic. Payroll coverage will include more than 15,000 current Wynn and Encore employees. For tipped employees, it includes the average tip compliance rate or distr
Delay of 2020 Olympics Devastating for Tokyo Lodging Industry, Says GlobalData
GlobalData | April 2, 2020
Major players based in the Japanese capital will be relieved that an Olympic cancellation has been avoided, but smaller operators will be unable to see a silver lining, says GlobalData, a leading data and analytics company. Ralph Hollister, Travel & Tourism Analyst at GlobalData, comments: “Many smaller establishments that do not have the high cash reserves that their large-scale competitors possess needed the Olympics to occur this summer. “The closure of major attractions in Japan that encouraged a constant flow of guests such as Tokyo Disneyland, combined with China banning overseas trips, has created a severe lack of tourism
The Boss Can Kill the Customer Service Buzz
Shep Hyken | April 2, 2020
By Shep Hyken Back in my high school and college days I worked at a gas station. We were a self-service station, so our role was that of cashier more than anything else. One very cold morning I noticed an elderly woman drive into the station. She was probably 80 years old. When I say it was a cold morning, I mean it was record-breaking cold. I walked out to her car and asked if I could fill her tank with gas for her so she could stay in her warm car. She was happy to stay warm and I was happy to help her. Once her tank was full, she paid me, I thanked her, and she drove off. I hustled back into the warm building where my manager a
The Relevance of Brand Relevance
Kimberly Yoong | April 2, 2020
By Kimberly Yoong iPhone, iPad, iEverything – the world of Apple has become a prime case study for brand marketers, as they continue to boast legions of fans around the world; many of whom would willingly brave the elements in a bid to emerge victorious with the latest iPhone in hand. But what’s in a brand? Quality, consistency, and now – an ideology. CitizenM seeks to “inspire a new generation of modern travelers”, affectionately referring to its guests as citizens, while Aman’s discreet, exclusive luxury has enthralled more than its fair share of Aman junkies. As consumers continue to seek the novel and unique, the attracti
The Hospitality Way of Survival After Covid-19 Crisis
Yutong MENG | April 2, 2020
By Yutong MENG The sudden outbreak of Covid-19 (unofficially called Coronavirus) crisis swept through Chinese Lunar New Year like a hurricane, adding a layer of panic and depression to the hospitality industry which was supposed to be busy and prosperous. According to STR, the average occupancy rate in mainland China began to decline significantly and continuously from January 14, falling from the peak 70% to less than 10%, and currently stable between 5% and 10%. Compared to an average occupancy of 55% in previous Chinese Lunar New Years, the Covid-19 epidemic has caused great trauma to the hospitality industry in China. Meanwhile,
Is Your Business Hard-Wired for Panic or Innovation?
James Houran, Ph.D., Dallas | April 2, 2020
By: James Houran, Ph.D., Dallas | Keith Kefgen, New York The COVID-19 pandemic has now become the most disruptive event in our lifetime. Understandably, virtually all organizations are bogged down in “immediate” decision-making. It is all tactical right now, because there is no place to run and no place to hide; there is no safe haven. But once the immediate circumstances settle, will your organization be hard-wired for panic or innovation? This pandemic offers two critical lessons for leadership thinking. First, psychologists have often emphasized mindfulness to a purpose. Living in the present moment, and nonjudgmentally as an app