Siegel Sez: Not Your Father’s Power Socket
September 3rd, 2021
The Most Important Hotel “Salesperson” Right Now Is Working Behind Your Front Desk
Doug Kennedy | July 22nd, 2020
Will COVID-19 Impact Hotel Business Insurance Claims?
Don Scaramastra | May 13, 2020
By Don Scaramastra As COVID-19 ravages our country and the world, perhaps no sector in the United States has suffered more than the hospitality industry. Government orders have effectively closed hotels and resulted in the widespread cancelation of meetings and events for the foreseeable future. While there is talk of “opening up” the economy, and while some states are taking measures to begin doing so, it’s unclear whether the public at large is ready to travel or meet in large groups anytime soon. For some hotels, help may be on the way in the form of business interruption insurance. This insurance is typically included in a p...
Next Beekeeper COVID-19 Webinar to Discuss ‘Weathering the Storm and Preparing for Recovery’
Beekeeper | May 12, 2020
Leading hospitality experts from IHG, Fitler Club, and HDG Hotels join Beekeeper to discuss actionable ways to prepare for the ‘next normal’ and how to be successful in the new world San Francisco, May 12, 2020 — What will it take to be successful in the new world? As part of its ongoing COVID-19 Webinar Series, Beekeeper will host industry experts from IHG, Fitler Club, and HDG Hotels to discuss weathering the COVID-19 storm and planning for recovery. The online event will be held Tuesday, May 19 at 11:00 a.m. EST / 5:00 p.m. CET. James Lemon, founder and CEO at The Growth Works and Strategy & Innovation Lead, Commercial &...
Hospitality Financial Leadership: Chapter 7 – Lunch
David Lund | May 11, 2020
By David Lund The chapter below is an excerpt from my new book. It’s fiction but some of the characters and story lines are based on people I have worked with and events that have taken place in the hotels I have worked in. The book is a fable about a hotel manager who has some very bad habits. He must change in order to survive and the book takes him and you through the lessons needed to be a great hospitality financial leader. I’m writing ahead each month so I’m not sure how the book will end. I hope you enjoy it and if you missed any earlier chapters you can find them on my website blog tab. I have had lunch with Cedrick tw...
Crisis Management for the Pandemic and Beyond
Anne Sweeney | May 11, 2020
By Anne Sweeney Anne Sweeney gained experience in crisis management through her work in corporate communications at Pan American World Airways. I saved the world today. Everybody’s happy now, the bad thing’s gone away. — The Eurythmics It’s called crisis management and damage control — not make the bad thing go away. From major corporations with high-powered communications staffs to the boutique or restaurant on the corner, businesses are struggling to deal with the cataclysmic effects of COVID-19. This global disaster, made profoundly more dangerous by a lack of preparedness, misinformation, coverups, lies and politicizat...
Hotel Asset Management – In Good Times and Bad
Hank Fonde | May 11, 2020
By Hank Fonde The practice of asset management for hotels entering the third decade of the 21st Century has evolved into an intricate process of analyzing layers of data and operating results, and then acting based upon the conclusions. The process requires great focus. Asset management is the practice of managing the value of the owner’s investment. And now that process becomes more urgent, but also more important than ever before. When we began writing this article, it seemed that a relevant analogy would be to create a theme based on the year 2020 with perfect vision on increasing asset value. What a convenient theme that would ha...
Shifting the Hospitality Service Paradigm in Difficult Times
Meng-Mei Maggie Chen | May 11, 2020
By Meng-Mei Maggie Chen A few years ago, Marriott had a commercial link with a storyline about an elderly lady who stayed in a Marriott hotel because she just lost her house during a mountain fire and needed time to reflect and think about her future. In the video, this lady described the friendship and support she received from the hotel employees. I used this video several times in my marketing courses because of how it appeals to a higher level of human needs (Maslow). How does it work? Instead of emphasizing product features or benefits, this video attempts to show an example that Marriott contributes to their host communities by...
Don’t Let Your Customers Fall in the Expected Experiences Gap
Shep Hyken | May 6, 2020
By Shep Hyken I’ve written about the concept of a “gap” a number of times over the years. Each time, the gap was different. The first time, I shared Dan Sullivan’s principle about the gap between the goal you wanted to achieve and your actual results, if you didn’t hit the goal. The difference was the gap. Another time I wrote about the competitive gap, which is about the gap or distance you put between you and your competition. The bigger the gap, the bigger your advantage. Then there was the gap between the service you want the customer to experience and the actual service they receive. Often when leader...
Will Ancillary Revenues Become Primary Revenues in the COVID Era?
Ajay Mehtani | May 6, 2020
By Ajay Mehtani HVS ANAROCK spoke about ancillary revenues in early 2019 and the concept of focusing on Revenue Per Square Feet at our HOPE conference again in Bengaluru in August last year – thus, initiating a dialogue with the industry on the concepts of Total Revenue Management. When the times are good, Ancillary Revenues seem very small and we let the opportunity pass by, as the effort does not add up to the return! Yes, any new product or innovation starts small. For instance, let’s take the example of the food delivery industry. Frost & Sullivan estimated the global food delivery industry to be worth $82 billion in terms o...
A Crisis Management Framework to Leverage Your Housekeeping Department in COVID-19
Global Asset Solutions | May 6, 2020
By Alex Sogno With many hotels already closed, the first step of reacting to this crisis has been completed. This critical action hits pause on numerous cash outflows. Therefore, we suggest a financial restructuring framework [1] as a crisis response approach to look for what to do next. Now is the time to stabilize your employees, develop and implement your reopening plan to come out of these challenging times stronger than before. While often not at the forefront of hotel owners’ or asset managers’ minds, housekeeping is arguably one of the most important departments. After all, the housekeeping team takes care of the “house...
People Management During COVID-19
Global Asset Solutions | April 28, 2020
By Alex Sogno An industry of people taking care of people; Ladies and Gentlemen Serving Ladies and Gentlemen; People, Product and Profit. Whichever way you phrase it, people are at the core of hospitality. As a service-focused industry, our product is inseparable from the person delivering it. Therefore, a hotel’s success depends on how motivated, happy and engaged their employees are as this directly affects its product. So how does a people-focused industry take care of their people during COVID-19? 1. Communication is Key (even when it’s virtual) We’ve all heard it a million times, especially now when we cannot be face-to-face: ...
5 Business Agility Lessons Hard-Learned Amid the COVID-19 Catastrophe
Hari Abburi | April 27, 2020
By Hari Abburi If there’s one thing the global business community has learned from the COVID-19 pandemic that continues to ebb, flow and unfold on the daily, wreaking having on bottom lines in every corner of the world in its wake, it’s the outright imperative for companies to be agile “from top to bottom.” In fact, agility is rapidly establishing itself as “the great equalizer,” asserting its unbridled authority over which companies—from global conglomerates to mom and pops...and EVERYTHING in between—will survive another day. While business agility has always been a key driver and benchmark of notably successful opera...
Hospitality Financial Leadership: Difference Between Expense and Investment
David Lund | April 27, 2020
By David Lund In the hotel business we need to be relevant and on top of the key issues that make our venture successful and ultimately sustainable in the long run. This piece is about how we can differentiate between expenses and investments to make sure we recognize the difference and make the best decisions for the ongoing health of our enterprise. Especially now that we are sidelined and looking for a new normal. What lesson can we learn from how we operated in the past? How will we operate in the future that is more sustainable and healthier? “Toilet paper is an expense.” – David Lund “An investment in knowledge pays th...
From Chaos to Coping, FIU Chaplin School of Hospitality & Tourism Management Professor Lisa Cain Offers Helpful Advice on the Challenges of Worki
Lisa Cain | April 23, 2020
MIAMI, FL. – April 2020 … Apart, isolated, inaccessible and distant – these definitions of the word remote have taken on new meaning to the millions of professionals now working from quarantined homes around the globe. The COVID-19 virus has changed the working landscape, perhaps forever. Workers are cut off from their corporate support teams, colleagues and clients. Many are faced with new responsibilities of homeschooling and managing children. All are trying to function in a time of chaos, fear, financial uncertainty and profound frustration. The hospitality industry has been especially hard hit and the Chaplin School of Hosp...
Put Some Fun Into Serious Business
Shep Hyken | April 16, 2020
By Shep Hyken The other day I was talking to my friend and fellow customer experience (CX) expert, Dan Gingiss. He shared how he’s seen businesses take something that is either really boring or very serious—or both—and make them entertaining. He gave a great example. In a legal agreement—like the agreements we accept online when we sign up for Spotify or Netflix—there is usually a lot of “fine print.” This is filled with disclaimers, indemnity clauses and more. Pretty boring information, but it’s important to share with customers. Most people skip over it; only a (very) small percentage of people take the time to read e...
5 Questions a Good Manager Should Ask Him/Herself While Managing a Team Remotely
Lucile Muller | April 16, 2020
By Lucile Muller As a result of the COVID-19 outbreak, companies and universities around the world have suddenly been forced to adopt home office measures for their employees wherever possible. It is true that over the last decades, the digitalization of our economies has made virtual work environment possible but realistically-speaking, only a few companies have been actively promoting it among their employees. Indeed, for most companies the road toward digitalization was perceived as a long and difficult journey demanding time and preparation. Only the most pessimistic ones would have imagined such a brutal transition. Today, even the...
How Do You Really Know If You’re Doing a Good Job?
Shep Hyken | April 14, 2020
By Shep Hyken I could have titled this article “Box of Donuts Research,” but you would have no idea what that means. I’ll explain in a moment. There are plenty of ways to get feedback. You can survey customers over the phone, via email, in focus groups and more. You can get objective and subjective feedback. You can use tools such as Net Promoter Score and Customer Effort Score. I could go on and on about the different ways to measure your customer’s feedback. My good friend and speech coach, Patricia Fripp—who happens to be the top speaking coach on the planet to professional speakers and executives—shared a great story abo...
Hospitality Financial Leadership: Balance Sheet: Financially, Nothing Else Matters
David Lund | April 13, 2020
By David Lund Over the years I have seen a lot of messes in my career. Not only the ones that catch your eye because of the clutter and disorganization you see in the back spaces of your hotel but I’m talking about a mess on the balance sheet. There are two main differences between the two different kinds of messes. The balance sheet mess is not easily spotted by just anyone. Contrary to the messy housekeeping office or banquet storeroom the balance sheet disaster takes a trained eye to detect. The physical disorganization is a costly problem in equipment costs and expenses related to operating outlays for amenities and suppli...
How Well You Communicate With Employees During a Crisis Will Determine a Hotel’s Reopening Success
Beekeeper | April 8, 2020
By Andrada Paraschiv In just three months, the coronavirus spread from Wuhan, China, to every corner of the world. Everyone is affected by this global pandemic, and few industries have been as negatively impacted as hospitality and travel. As in any crisis, communication with employees is essential. With hotels closing daily and workers being furloughed, hoteliers are quickly realizing that they do not have effective communication processes in place to stay connected with their valued workforces. Although hotel companies are working diligently to triage this crisis the best they can, each are facing limitations. But there is some good news...
Hotel Investing in the Uncertain Pandemic Climate
Marcus & Millichap | April 8, 2020
As we commence a new quarter in 2020, facing heavy headwinds in the face of the new decade, it is more important than ever to develop a plan to work through this pandemic. There is still so much uncertainty, yet it is our responsibility as business professionals to develop a plan to prepare ourselves for the worst-case scenario. The good news is however, that our economy is taking action to assist our business. The U.S Small Business Administration 504 program is providing loans with the same type of long-term, fixed-rate financing enjoyed by larger firms, denoted by interest rates equivalent to favorable bond market rates. Businesses are el...
Crisis Resilience for the Moment: Risk Management & The Remote Worker
Paul West | April 8, 2020
By Paul West Now that everyone’s approach to risk management and crisis resilience is being challenged as never before, there is still much to consider in trying to maintain any sort of business continuity for most companies where doors are closed and revenues are interrupted while expenses continue to mount. Certainly things will continue to change as this paralyzing event also comes with a fluid time element that is indeed stressful to every individual and pushes the sanity button of each while enduring a self-imposed, financial shutdown that is concern for all with its impact on the overall economy. As we approach crisis resilience...
What to Do When a Guest or Worker in Your Hotel Is Diagnosed With Covid-19
Stacy Bercun Bohm | April 7, 2020
By Stacy Bercun Bohm and Daniel Miktus To address the ongoing coronavirus (COVID-19) pandemic, Governors and local officials have enacted countless emergency orders requiring individuals to stay in their homes except for certain essential activities, and ordering “non-essential” businesses to shut down. While some of the orders – particularly in South Florida – have required hotels to shut down except for certain guests including medical workers and emergency first responders, most of these orders exempt or except the hotel and lodging industry and its employees from these shutdown and stay-at-home measures. Regardless of whether y...
How to Make Working From Home Work for You
April 7, 2020
By Beatrice Venturini From a no-no to the new normal In his 2017 TED Talk, the British economist Nicholas Bloom jokes of how his mission to encourage working from home (WFH) was initially met with disparaging remarks like “shirking from home”, “working…remotely” or simply, “getting paid for not getting dressed”. He argued that WFH would save companies money, create more time for productivity and certainly reduce global pollution with less unnecessary travel. What was once a HR issue, essentially reserved for working mothers, has suddenly become an enforced modus operandi worldwide. In the last few weeks, companies big and s...
Hospitality Financial Leadership: Shift Your Thinking
David Lund | April 6, 2020
By David Lund We all have predisposed ways that we look at our world and the things, people and circumstances inside of it. It’s what makes us human and we either have an open mind or one that’s closed. Another way to express this is we either have a fixed mindset or a growth mindset. In her wonderful book Mindset, Carol Dweck dives deep into this distinction and relates it to our lives. I highly recommend reading her book—it’s nothing short of amazing. In this piece I am going to apply this distinction to you and your hotel career. Specifically, around the notion that we are either a numbers person or not. When I start a fin...
COVID-19 Hotel Management Plan
Robert A. Rauch | March 31, 2020
By Robert Rauch As a seasoned hotelier of over 40 years, I have worked through five previous recessions, ergo, I feel qualified to provide insights into what we should do as we face the sixth recession since the 1970s. If we have not preserved cash, the financial portion of this brief article is perhaps the most critical. The human side is near and dear to my heart, but the financial side weighs heavily. Here is my suggested plan for recovery, not from COVID-19, but from the economic wounds it is causing. Financial Relief The most critical first step, if not already taken is to project our expenses for the next 90 days. This requires...
