A related column in this series titled “A Common Sense Review Process for Capital Investments” addressed the logic and an approach in planning and executing major projects.
Both a certain financial amount and government regulations relating to depreciation tables define most major capital projects. These ventures usually have some sort of potential risk. The ROI (Return on Investment) is usually justified by an expected improvement in the profit potential, by complying with brand standards/requirements (if appropriate) or by introducing significant physical additions or improvements, such as adding a new wing, spa, meeting space, retail, etc. that should increase revenues and the overall value of the hotel.
Female centric" - the buzz words at the heart of the new business women's movement -
Currently hospitality is extended to many women by many a hotelier. Wanting to remaining competitive and in tune with customer needs and preferences, chains, groups and independent hoteliers are looking at ways to cater specifically for women.
Hong Kong based, international Hotelier Terence Ronson provides a very comprehensive overview of how service should be delivered in this PERTLINK Blog. He uses examples of service excellence in housekeeping, front office, safety/security, hotel marketing and sales, food & beverage, hospitality training and general management. The details are very specific and he also addresses a fundamental in hospitality - success does not come from the age of a hotel, but from the caring of a hotel staff in delivering inspired service. Enjoy!
Today, hoteliers know that it is imperative to have a booking engine in your property's corporate website; if you don't, your property would be losing out on bookings, and relying solely on the (costly) OTAs to gain bookings through the online channel.
But now there is a new update to a property's booking engine that all hotels MUST have, or else they are losing out on valuable online revenue and falling behind the competition: a mobile-compatible booking engine.
Having been a Hotel Sales Associate for most of my professional life I have had to endure many misperceptions of what I actually contributed to the operation on a day to day basis. I found early on that there were ways to take these negative perceptions and turn them into actual teaching moments or at least opportunities to become a part of the hotel team. This helped to move my career light years beyond those who simply ignored the statements feeling that they did not have to defend their position. While I understand that feeling… it does nothing to create the bond that should be present between operations and sales. I hope these 10 Sales Myths do not offend anyone but I must tell you I have heard each of the 10 statements below more than once in my career. It is time we, as Sales Professionals, put things right.
As many people regularly join the industry from other fields, we have provided some additional terminology and identified some of the more frequently used terms. There are many terms, abbreviations, phrases, and slang words used in the hospitality industry that are not universally understood. Some of those phrases are used mainly in sales, while others are primarily operational in nature. This Glossary focuses on the Marketing and Sales areas of the hotel.
Buying or selling a hotel operating under a brand name requires special attention. Typically, the existing franchise agreement will be assumed, terminated or modified in some way, and the new branding arrangements will usually have a significant impact on the value and profitability of the hotel. The JMBM Global Hospitality Group® has represented buyers and sellers of hotels with all the major hotel brands, and has developed practical solutions to achieve a smooth transition of the franchise from the seller to the buyer, or to change the franchise if that suits the buyer's goals. Knowing when and how to work with the franchisor as part of the transaction can save both parties a lot of money, avoid major disruptions of hotel operations upon the sale and increase the value of the property itself.
This is a short six letter word, but its definition has meaning to many of us. We all hope and want to make a difference in the lives of those we interact with. We work to positively impact others in our time.
Jack Vaughn (1937-2014) certainly left his mark and a legacy in truly dramatic ways. One of the best tributes that could be offered about Jack would be to recognize the fact that he built his reputation and influenced others in ways that were seldom self serving.
Jack was a private person and that was evident by his quietly blending into the background in the 15 years since he left Opryland.
A personal friend and professional associate, David Brudney of California, wrote a wonderful recollection of the personal side of Jack[2] that he knew in their Westin days. I enjoyed learning some things I did not know about his background prior to the 18 years Jack and I overlapped in Tennessee.
A primary observation for me was that Jack was an exceptional hotelier and caring individual. He inspired an army of other professionals through his commitment to continuous learning and certification.
Jack Vaughn (1937-2014) certainly left his mark and a legacy in truly dramatic ways. One of the best tributes that could be offered about Jack would be to recognize the fact that he built his reputation and influenced others in ways that were seldom self serving.