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.
Having been around awhile I have seen the changes that have come as a result of major global events. The starkest example is our pre- and post-911 world. It showed us that the idea of getting on an airplane means we need to prove we do not have any threatening objects with us, like guns, knives and explosives and we need to prove we are who we say we are.
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.
The simple and only answer is yes, you should. Without these tools, you are flying in the dark and sooner rather than later you are going to run into a mountain. In my opinion, if you are running your hotel business without this and you think that is okay then you are simply irresponsible.
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.