Do Not Let Covid Infect Your Brand
The first thing that came to mind when Marriott International furloughed two-thirds of its corporate and property staff was - Is this going to severely impact the Marriott brand and the relationship with their most important asset: PEOPLE. Many blue-chip companies in hospitality, gaming and travel followed suit. These same companies have spent untold millions over the past decade building both a customer and an employment brand. Would their reputation be severely impacted in ninety days?
Read moreBiannual US Hotel Asset Management Compensation Report
AETHOS' biannual US hotel asset management compensation report is designed to provide current and credible compensation trends and covers asset management compensation information for the following three positions: senior vice president asset management, vice president asset management and director asset management. All information was collected through a confidential survey from a diverse group including public lodging REITS, private equity, owners/developers and asset management advisory firms. In total, more than 1,500 data points from 240 survey respondents were processed (data responses submitted between 1/1/2020 – 2/15/2020).
Read moreKey Questions on Employees’ Minds Right Now, Part II/II
Many hospitality students and professionals around the world recently participated in AETHOS’ series of development webinars. These sessions offered attendees the opportunity to complete the 20|20 Skills assessment to gain a personal SWOT analysis to help them navigate these challenging times of occupational crisis and change. Interestingly, the attendees consistently voiced certain concerns and follow-up questions.
Read moreThe Myth Of ‘Crisis Leadership’
Google the phrase “crisis leadership,” and you get over half a billion (yes, with a “b”) entries. It is one of the hot topics on social media now, with new entries appearing daily. Everyone in the business world is talking about it, and they all seem to characterize it the same way: that crisis leadership reflects a highly specialized skill set or psychometric profile that is significantly different than “everyday” leadership. The spirit or intent of these articles is certainly commendable. Indeed, leadership development remains as much an art as a science, and so data-driven guidance is critically important. However, the core premise of crisis leadership as it tends to be discussed is often misguided or blatantly incorrect.
Read moreKey Questions on Employees’ Minds Right Now, Part I/II
Many hospitality students and professionals around the world recently participated in AETHOS’ series of development webinars. These sessions offered attendees the opportunity to complete the 20|20 Skills™ assessment to gain a personal SWOT analysis to help them navigate these challenging times of occupational crisis and change. Interestingly, the attendees consistently voiced certain concerns and follow-up questions.
Read moreWhat is Your Business 2.0
The government has effectively shut down the hospitality and travel industries. Yes, this will end, and no, it won’t go back to 'normal'. What will the new normal look like? I have heard all kinds of predictions from a V-shaped recovery to social revolution; a wide spectrum to say the least. The fact is no one can see the future and the past is not always a great predictor of future results. We at Aethos™ have been spending some of our new-found 'down time' to think about the new normal.
Read moreRethinking the Nature and Relevance of ‘Legacy’
It would be an understatement to say that the service-hospitality industry is experiencing unprecedented times. The global ‘Black Swan” event has arrived, and the light at the end of the tunnel appears the size of a pin hole. However, our industry is critical to the ongoing wellness, social connection, and enchantment of consumers, so it will certainly persevere ― hotels will re-open, cruise ships will set sail, restaurants will seat guests, galleries and studios will re-engage visitors, and the Vegas lights will again dazzle.
Read moreMental Wellness and Today’s New Workplace Norms
‘Mental wellness’ is a broad topic that involves our emotional, psychological, and social functioning. In what is a reflection of the fast-paced and high-pressure environments that we nowadays live in, it has increasingly topped the management agenda of many boards and HR executives across the globe. In a high-touch and hugely interdependent business environment such as the hospitality industry, many executives had already voiced concerns about losing their ‘equilibrium’ before the current COVID-19 crisis.
Read moreThe Future State of Hospitality after COVID-19: A New Psychology of ‘Enchantment’
"... it is difficult to imagine anything people will crave or need psychologically more than a healthy dose of enchantment following weeks of monotony, restlessness, and anxiety that accompany COVID-19 quarantines." But what exactly are the core elements of enchanting experiences? Many people have talked around this question, but few research studies have actually delved into the nature and relevance of enchantment as a psychological construct or consumer motivator. Perhaps the closest guiding principle used by the tourism-hospitality industry has been the notion of the ‘experience economy.’ This reflects the philosophy that businesses compete in today’s market by offering increasingly memorable experiences versus strictly focusing on the quality of products or services. Moreover, some research has modeled the ‘ideal’ features of such ‘memorable experiences.’ Namely, the trend over the past decade or so has been for consumers to seek experiences grounded in (i) aesthetics, (ii) authenticity, (iii) education, (iv) entertainment, (v) escapism, (vi) newness, and (vii) a sense of transformation.
Read moreCompensation Impact on Taking Money from the Government (CARES Act HEC)
The key language regarding compensation in the CARES is below. How will this affect hospitality, gaming and travel companies who participate? "To receive financial assistance (in the case of air carriers and contractors), or loans and loan guarantees (in the case of other eligible businesses), a company must agree to the following limits (which generally apply during the period of assistance and for one year thereafter) on annual compensation and severance payments for each officer and other employee (other than a unionized employee) whose “total compensation” exceeded $425,000 in 2019 (“CARES Act HCEs”)"
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