The global hospitality industry has been through every perceivable calamity over the past decades: earthquakes, tsunamis, tornados, major floods, terrorist attracts like 9/11, SARS, global recessions, epidemics and pandemics like SARS, MERSA, ZIKA, swine flu and now COVID-19.
The global hospitality industry has been through every perceivable calamity over the past decades: earthquakes, tsunamis, tornados, major floods, terrorist attracts like 9/11, SARS, global recessions, epidemics and pandemics like SARS, MERSA, ZIKA, swine flu and now COVID-19.
"Covid-19 is climate change on warp speed" (Wagner, Mar.10, 2020). The current pandemic has catastrophic consequences on the hospitality sector. The ways the industry currently deals with the crisis (for example, see: COVID-19 - Survival Guide for the Hospitality Industry) offers a glimpse into the crisis management endeavors in building a business case for disaster and climate resiliency.
Robert Cross, the de facto Godfather of Revenue Management, stated "…everything starts with a day by day, segment by segment forecast", yet many hoteliers no longer produce one as part of their strategic process.
Hospitality Net introduced a live timeline with relevant and industry-specific coronavirus news, resources and external updates. We asked our contributors to share their professional opinion with you
The hospitality industry has long been suffering from failing to attract and bind talent. The labour turnover rate is shocking: According to the U.S. Bureau of Labor Statistics, hospitality employees quit their job two to three times more often compared to other industries.
Based on survey results, the panel is bullish (median 67.5%) on the prospect of the 2020 transaction market beating 2019's tally of $62 billion. Interestingly, nearly 1/3 of the panel is 100% confident of this! On the other hand, the panel's outlook on U.
The last few years have forced companies to adapt more quickly than ever to changing customer expectations in terms of technology. Hospitality is no exception, from mobile room keys to automated notifications across guests' channel of choice (text, email, phone) to inform them of things like confirmed bookings and reservation changes.
Recently the question has been asked at events, in social media posts and industry articles if revenue management is stuck in a rut. The authors assert that revenue management has not really advanced in the last 10 years and revenue managers are not doing anything differently than in the past.
Hotel schools, business schools and liberal arts programs produce thousands of graduates each year with all sorts of skillsets.
Hospitality Net's World Panel is a thought-leadership platform where hospitality-industry opinion leaders share insights, views, ideas and reactions on important issues and events currently affecting the hospitality business. Each panel is made up of a select group of experts, and industry leaders who, by invitation, contribute succinct commentary on viewpoints which are suggested by panel-champs.
