I like writing stories about hotels and my experiences in the hospitality business. It is no wonder, I guess, in part because I grew up in a unique place. Guess what it had and still has? A great hotel.
No business sector was hit harder by the pandemic than hospitality. And none has experienced such a meteoric rebound. It’s a testament to how vital travel and the hospitality industry are to our lives and relationships. Now the new challenge is how to staff up to meet traveler demand without sacrificing the guest experience.
If your hotel in the U.S. experiences major swings in demand based on the season you might be the ideal candidate for the H-2B Work Visa Program.
Mike Tyson might have a new career as a philosopher. Indeed, his point about life being comprised of a long series of losses is not only insightful but also motivational. Tyson contends that a person’s drive and stamina to rise above loss is the defining mark of a winner. Martin Luther King, Jr. echoed this sentiment when he argued that “The ultimate measure of a person is not where they stand in moments of comfort and convenience, but where they stand at times of challenge and controversy.”
Last week, COVID-19 cases in the U.S. hit their lowest rate since September. Deaths were also at the lowest point since April last year. Moreover, close to 60% of adults in the U.S. have already received at least one dose of a vaccine. The Centers for Disease Control and Prevention (CDC) announced on May 13 that:
The pandemic’s negative effect on the hospitality industry, especially its ability to hire new associates, will be long felt even as we see signs of recovery. Many have left the industry for other opportunities considered more stable. The more leadership can recognize, motivate, and reward team members, the stronger the chances are of rebuilding and retaining staff for the long term. There are so many hidden and not-so hidden costs of high turnover that exploring all options to retain your valuable associates is more important than ever.
As coronavirus cases drop and economic activity starts to return to normal, the hospitality industry will soon be able to begin replacing workers who were laid off due to the pandemic. Some cities in California, and now the entire state, have enacted requirements for how hotels and other businesses can fill open positions; my partner, Travis Gemoets, has summarized the new law below. - Jim Butler
The hotel/travel industry has been particularly hard hit by COVID. Many of the industry's venerable brands have had to do the unthinkable, furlough or layoff significant percentages of their workforce. Many executives and even board directors have taken pay cuts during this health crisis. We wonder how this pandemic will impact corporate governance and the tough decisions facing public hotel/travel companies. We have been studying governance practices in the industry for nearly two decades and we have seen huge strides in the quality of board practices. Our study this year examined 56 public lodging companies across five critical areas of corporate governance:
As more health care facilities grow to become "medical campuses" and medical meccas for care, they emulate hotels in their quality and delivery of health and wellness (H2H) services. Many build hotels or have partner hotels for medical guests and tourists on their health campuses. An innovative approach for blending hospitality and health care can be found in Orlando, where the RosenCare model could boost lodging revenue by using medical travel to the United States. In fact, in medical centers and hospitals, after the procedure (surgery or other treatment), approximately 75% of the services provided to patients are hospitality/hotel-related services (H2H) including dining, environmental, transportation, front desk, educational, and entertainment services (Figure 1).
It comes as no surprise that the hotel industry is hurting. The drop in travel and occupancy was quickly reflected in the supplier community, group and event locations, technology companies and the wide array of companies that service the hotels that welcome the world's travelers. We need your help!
Given the uncertain times that we are in, we at Kabani Hotel Group have compiled a guide for hoteliers, to cope with the current state of the hospitality market.
An extensive study of theft among restaurant workers was conducted recently by three researchers from the Olin Business School at Washington University in St. Louis. The results — based on transaction and theft data from 83,153 servers at 1,049 restaurants from 34 chains across 46 states in the U.S. over seven years — are a must-read for restaurant owners, managers and investors regarding theft prevention practices.
It seems like out of nowhere, electronic safety devices (ESDs) have gone from aspirational trend to legislated mandate for hotels. But when you think of it, it's been a long time coming.
When's the last time you went on a date? Too long to remember? Or maybe you're dating now, you sanguine dreamer. Do you have a collection of cringe-worthy stories about those dates or relationships you'll never forget, the ones that took a turn for the worse? Lol! Don't worry, this isn't about dragging up all the pitiful memories of your exes. It's about how things can get off track and eventually go wildly wrong even though you can't pinpoint exactly why.
I mean come on, now… Why on Earth are you still okay with this word that your team is using with guests? It's NOT okay. Actually it IS okay. The word is "Okay!" See what I did there? Heh heh.
During the dinner rush last Friday night in a fun-casual downtown restaurant, Tim was running his third solo shift as a manager. And then disaster happened.
So, last Thursday in a hotel restaurant in Phoenix, Aaron was working a busy lunch shift. Two elderly ladies were seated in his section and he swooped in to get a quick drink order: “Good afternoon, ladies. I’m Aaron. Would you care for a glass of wine, an iced tea or a fresh squeezed juice?” Elderly lady: “What kind of fish is in the fish & chips?”
Results from a recent gender diversity study I conducted for the lodging industry indicate that of the 238 board seats available among the 28 U.S. lodging companies, only 51 were occupied by women (21%), a woefully low number. If we live in a world where women account for 80% of consumer spending and a multitude of credible studies point to a correlation between greater gender diversity and strong board performance, it is certainly time for us to address this issue head on. I have personally facilitated countless client board meetings and can say with unwavering confidence that gender diversity within the boardroom leads to first-rate ideation and collaboration. Here are some of my thoughts to stimulate change within the lodging industry.
Over the past two decades, there's been a sharp decline in the number of teens who choose to work in hotels and restaurants. Back in 2000, teens comprised over one-fifth of the hospitality workforce. By 2017, that number had dropped to 16 percent — shrinking what was once a viable pool of workers.
AETHOS New York Managing Director Keith Kefgen, in his annual review of CEO compensation for a variety of hospitality disciplines, shares candid insights as a result of his latest look at CEOs of U.S. lodging companies:"What we have found over the twenty years of studying CEO pay, is that the many public boards did a poor job at linking CEO pay to company performance," observes Kefgen. "In fact, that was the goal of creating our pay-for-performance model." The AETHOS Pay-for-Performance Model analyzes key financial metrics such as market capitalization, stock appreciation, EBITDA growth, and total direct compensation. What AETHOS discovered in last year's hotel industry pay practices is that most CEOs were paid appropriately, with a few outliers.