Re-Shape, Re-Generate, Re-Invent: A Career Roundtable Discussion Focused on Confidence, Control and Opportunities
The Annual Hotel Conference was held October 8th – in line with the overarching theme of ‘re-shaping’, ‘re-generating, and ‘re-inventing’, delegates were able to participate in an interactive roundtable discussion focused on professional development opportunities. The conversation centred around identifying and securing one’s next career step.
Read moreWhat Paranormal Tourism Reveals About the Human Psyche
Space activation, reactivation, and monetization are hot-button industry topics (e.g., Collina et al., 2017; deRoos, 2011; Tamini, 2018) - especially in the context of certain forces that have disrupted retail, tourism, and hospitality markets. Specifically, Russo and Richards (2016) noted three important paradigm shifts or “turns” that have evolved the concept of consumerism in these businesses, that is, the mobilities, performative, and creative turns (pp. 3–5). A later section deals with these in greater detail, but such trends are substantiated by considerable evidence, and collectively suggest that the most successful service–hospitality concepts intentionally capitalize on “systems theory,” i.e., environment–person bidirectional or enactive influences (Goldhagen, 2017; Jelić et al., 2016; Rentfrow, 2013). Stated simply, the prevailing view is that contemporary tourism and hospitality should approach the issue of space activation as an interactionist proposition.
Read moreAdjusting Asset Management Staffing Strategies
The role of asset manager is as important as ever now during the pandemic, so those with asset managers within their ranks should think carefully about how they manage their teams.
Read moreHotel CEO Pay For Performance Study
What a difference 6 months makes. 2020 began with hotel companies coming off one of the strongest years in history and feeling optimistic the good times would continue. Since then, the industry has had widespread closures, massive layoffs, and CEO’s taking significant pay cuts while grappling with a global pandemic. While we will explore the ramifications of this crisis in this article’s conclusion, much of this study is focused on 2019 compensation data.
Read moreEvolving To Normal – How Private Members Clubs Have Adapted
As we fall into Fall, hospitality companies need to continue to think different. There is no playbook for a pandemic and what we may do one week can get turned upside down the following week due to a color scheme and algorithm that is supposed to tell us if we are “safe” to operate. Regardless of opinion and political views, one thing is certain – we need to continue to attract more customers and find new ways to activate revenue.
Read moreAn Insider View: What Keeps Hospitality Leaders Up At Night
The hospitality industry finds itself in a state of flux. Many organisations have had to restructure – thus not only forcing many executives to re-evaluate their professional careers, but also the organisations themselves to more critically assess internal workflows, staffing levels and productivity, as well as general business strategies. ‘Change management’, ‘adaptability’ and ‘innovation’ are certainly the buzzwords which are front of mind.
Read moreAethos™ Hotel CEO Turnover Study 2020
There is no doubt that Covid-19 has been devastating for the sector; however, it has also forced hospitality organisations and their CEOs to focus their attention, and to improve (amongst other areas) their ‘score cards’ as it relates to innovation and speed of action – traditionally areas which have not always been a forte for many of the internationally operating players. It seems results are starting to show, and this is to the credit of the incumbent CEOs.
Read moreThe Long-Term Incentive Dilemma of Asset Management Pay
The economic impact of COVID-19 has devastated the hotel industry in myriad ways, from sinking revenues to company restructurings. Hilton announced in June that it was laying off 2,100 employees, about 22% of its corporate staff. In March, Marriott reported it would furlough roughly two-thirds of its 4,000-person corporate workforce. The COVID-19-induced lodging recession has not only dug into property owners’ bottom lines, but it might also have a ripple effect of draining companies of their top-tier asset-management talent. No longer bound to a company with the “golden handcuffs” of long-term incentive plans or even annual bonuses, high-performing asset managers are considering career resets that will leave owners without the talent they’ll need to thrive in Hospitality 2.0—a time sure to be marked by a wave of distressed assets and workouts that demand the attention of talented and experienced asset managers.
Read moreThe New Work Environment
“Organizations worldwide spend more than $350 billion on corporate training and education each year, but much of it is ineffective.” Companies will continue to look for more effective and efficient ways of delivering training and particularly for methods that support the transfer of learning into behaviors that drive workplace performance. No longer will the key measures of training be the amount of money a company invests or the number of hours each employee spends in training. Training expenditures need to answer the same question as any other business investment: Is there a justifiable return?
Read moreCovid Uncertainty Does Not Discourage European Hoteliers
As the UK prepares for reopening the hospitality industry, Aethos™ sought to get a clearer picture of the sentiment amongst branded as well as independent hotel operators. The idea – to contrast the mood of the British hospitality industry with that of a country where hoteliers have already had a little ‘head start’ due to the earlier lifting of restrictions.
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