How can the hotel management industry survive in the current economic climate?

I genuinely feel that the ability to pivot and show humility are two incredibly important and noteworthy traits. If it works. Enhance it or leave it. If it doesn’t. Stop it and change it. No love lost. I also think that service now more than ever is critically important. Panels for new operatives are so easy to execute, focus groups - but little to no one does.

I believe the Human resources management is the key . Since the pandemic most hotels suffer from genuine motivated employees. Hospitality businesses need to constantly show appreciation to their staff. Basic concept needs to be constantly put into practice such as Happy employees will make the guests happy no matter what. Unfortunately there is far more unhappy employees in the hotel business. From simple oral recognitions and Financial recognition, actions have to be taken .

Part of a Senior Hotel Management Team's Role would be to continuously Assessing the Situation - the Business Environment. Any Assessment would depend upon the size of the Organization - where is the business done? Of course this would change significantly depending upon how many Hotels are in the organization - where do your customers come from? Where might they come from? Today, single macro-events can have huge impacts on the way International business might be carried out and Hotels and Hospitality is no different. The way business might have been successfully carried out for decades can change over-night by a single event relating to politics, economics, society, technology, legislation or the environment. Beware.

I think once all the due diligence is done & both, the marketing plan & the financial plan, have been structured we should shift our focus to the two most crucial parts of hotel management. Staff development & maintenance of facilities, you can’t have one without the other. Realistically speaking we haven’t been able to find a way to keep employees excited about the job or their roles, but with the right motivation and genuine care from the management team we’ll be able to shift the entire environment of the work space. With an eager team and a right attitude it won’t matter what the market is like. You get what you give. Facilities and attention to detail will come naturally & the employees’ creativity will drive you to success.

In the challenging economic climate, hotel management can thrive by prioritizing cost-efficiency in operations, diversifying service offerings, and personalizing guest experiences to add exceptional value. Embracing digital marketing to effectively reach target audiences and forging strategic local partnerships can also help share costs and broaden appeal. These adaptive strategies equip hotels to weather economic storms and maintain a competitive edge.

The Kano Model is incredibly useful here. It helps you think of features and facilities in terms of how much benefit their deliver to guests. Some services/features are expected and need to just work to a basic standard, like air-con and WiFi. Once they are good enough, you can stop. Others are expected and lead to greater satisfaction, such as the helpfulness of staff and having great views and amazing food. Then there are other features and facilities that guests are not expecting but if delivered will provide high levels of satisfaction beyond their expectations. These might be things like a surprising turndown service or amazing on-property activities that people can enjoy together or a complimentary head massage after breakfast.

Encouraging positive guest reviews has enormous benefit. All staff members can be provided with review cards that include their name. The chance of getting public praise from happy guests is a strong staff motivator, especially if this gets rewarded directly. Reviews on Google Maps are becoming more and more powerful. The SEO benefit of regular positive reviews can be a very strong marketing channel.

- Offer Local Experiences: Partner with local businesses to create unique packages and experiences. - Flexible Booking Options: Provide flexible cancellation policies to attract cautious travelers. - Virtual Services: Develop online offerings, such as virtual tours or remote event hosting. - Loyalty Programs: Enhance loyalty programs to retain repeat customers. - Alternative Uses: Utilise hotel spaces for co-working or small events to generate additional income.

- Sustainable Practices: Implement eco-friendly initiatives to attract environmentally conscious guests. - Technology Upgrades: Invest in advanced technology for seamless operations and enhanced guest experiences. - Staff Training: Focus on continuous staff development to maintain high service standards. - Market Research: Regularly analyse market trends to adapt strategies and stay competitive. - Diversified Offerings: Expand services to include wellness programs, remote workspaces, or local partnerships.

- Track Financial Metrics: Regularly analyse revenue, expenses, and profit margins to identify areas for cost-saving and improvement. - Guest Feedback Analysis: Collect and review guest feedback to enhance service quality and meet evolving customer needs. - Market Trends: Stay updated on industry trends and competitor strategies to adapt quickly. - Performance Reviews: Conduct frequent performance evaluations of staff and services to maintain high standards. - Adjust Strategies: Be prepared to pivot business strategies based on continuous monitoring and evaluation outcomes.

Ensuring the guest feels fully safe from every angle is one thing that I found to be beneficial! Starting with the first phase of an internet presence, where health precautions are clearly visible and establish the initial connection. In the second step, the visitor should affirm in his/her mind that your place is completely clean and safe upon arrival. Thirdly, in their room, where there should be impeccable hygiene and subdued safety rules. Someone must feel protected in his own territory and nowadays it is important to remember that the goal is to overcome obstacles.