1. Mixed messages or in the worst scenario silence from leaders about the course of action, hence leading to confusion, speculation, rumors, lack of confidence in the organization.
2. Top performers, surrounded of negative environment and what is going on, are likely to be less productive, more frustrated, more willing to consider external opportunities, in case you have not realized it, the Under-Performers are less likely to leave voluntarily, more likely to bring down morale and play the blame game.
Conclusion
Business results are dismal due to markedly decreased agility and traction, with less capable and motivated team impacting in lower growth, profits, sustain a business model like this become a “Mission Impossible”
That is the bad side of the story, however… there is a light at the end of the tunnel, you can turn to strategies that counter the negative impact of these effects. more than 50 years of professional experience combined, Hoteliers Inspiration has identified ways in which leading Hospitality organizations can get out of this downward cycle.
Contact us on info@hoteliersinspiration.com and we will provide you with a guide to unlock Broken the Code Model, no cost involved!!
We believe, that sharing knowledge is an action of intelligent beings who have proven that knowledge is an asset that grows as it is shared.
Additional Thoughts
Hotels Companies have been collecting data for several decades; capturing everything from P&L Key Performance Indicators to revenues and cost, but very little when it comes to employee performance measurements, isn’t it the time to balance data and metrics analysis and start using that data successfully?
Certainly there is no way to predict the future, however, professional hoteliers are turning to analyzed internal data to view patterns and trends and are using relevant information to gain insights and make predictions for future outcomes of the organization and hospitality industry. Without a more balanced analytic, data collection and the insertion of a more rational critical thinking process, hotels could face irremediably an increase in skills gaps throughout the entire hotel with less knowledge, engaged employees, learning and development process along with many other challenges.
I refer to Employees Performance measurements to those fallen into their Key Job Responsibilities and visible behaviors, which are the qualitative measures of effective job performance. Read more
Revenue Maximization Strategy
The top tips a General Manager must be aware to develop a revenue strategy. In today’s seemingly ever-changing hospitality market, hotel GMs have become the key collaborators linking Sales and Marketing, Reservations departments.
Future Market Assumptions and Opportunities
Be fully familiarized with key finance and non finance information, business landscape, basic revenue maximization starts with data collection, analysis, manually collecting this data takes time and energy. Have an SOP, format, dashboard in place to gather all this critical information, ADR, RevPar, Revenue Segmentation, Mix room revenues, F&B average Spend, number of covers.
Overall Business Strategy
Develop the ability to accurately forecast demand and occupancy. A good forecast assists with room rate decisions, staff allocation, property maintenance and a range of critical hotel operations. To do this, hoteliers need to ensure they have deep, detailed data that contains both historical and future information.
Key Segment Action Plan for both, Rooms and F&B
Understanding a hotel’s most valuable and profitable guests or segment is critical, making this knowledge a key pillar in ongoing revenue optimization.
Every hotel has a different market segment mix, so what is the best way to assess the optimum balance? “What Worked and What did not Work” and SWOT analysis are important for hotels to understand success factors, the market segment level.
Make it more visible, produce graphs that help management teams visualize rates, revenues, market segment mix, it helps identifying which market segments, business mix and sales channels should be working on.
Develop Key Indicators and Measure Success
A revenue maximization strategy has more elements than the increase of an average daily rate (ADR) and revenue per available room (RevPAR), important though they are.
It is also important that hoteliers look at what is happening in the wider market. Metrics such as the market penetration index (MPI), average rate index (ARI), and revenue generation index (RGI) have become today’s standard revenue management measurements.
To do this, it is vital that hoteliers identify the right competitor set and review this set regularly. Hoteliers need to look at location, product and service, in addition to what guests are saying about these hotels.
Send us an e mail at info@hoteliersinspiration.com “Ref Revenue Maximization” and we will provide you with hints and tips for the development of a well planned strategy.
While it may initially take extra time and work, having a Business Revenue Strategy in place will provide visible performance factors to assess and measure progress.
Have in mind the following statement “When you can measure what you are speaking about, and express it in numbers, you know something about it; but when you cannot measure it, when you cannot express it in numbers, your knowledge is of a meager and unsatisfactory kind.” said by William Thompson.
The efficient way….. coming soon ……e Learning programs for hotels
By: Cees WM Nieboer – VP Learning Paths International and Hoteliers Inspiration.
Time is money! It is often hard to draw people away from their workplace and get them to participate in classroom based workshops. The main question that we need to ask ourselves: Can some of the knowledge be transferred to our employees in a different way?
Every time we want to gear up our staff with new skills, knowledge and behavioral traits, we need to evaluate what would be the best manner to tackle this with in order to achieve the best possible result.
We don’t say that classroom based training should be abolished all together, but a sound mix with for instance e Learning could cover more people and be less costly from a perspective of time and money spent.
Important is however to ensure engagement between the learners and the content. We establish that through interactive questioning sessions that can be before, within or after specific parts of the programs.
That leads to better cementing of the content in the learner’s mind and demonstrated in earlier applied cases a better transformation to the activities on the workfloor.
In plain English: Spent time and effort become more likely to improve performance.
Since a lot of the development process of employees in jobs (more than 70%) is established through the non-formal elements of training, modern Knowledge Transfer Systems also allow for structuring coaching, assessments and ILT (instructor led training) such as coaching sessions and webinars to be administered and monitored.
Public content these days is widely available and we, at Hoteliers Inspiration, can help you select the right modules or developing a custom made curriculum that suits your needs.
Content might cover a variety of documents, narrated PowerPoint training sessions, recorded audio sessions or videos addressing relevant topics.
The myth that eLearning was only for large organizations with deep pockets is long gone.
We made it affordable and cost effective!
In future publications we will dig deeper into specific additional functionalities that might blow you away and open your mind for application within your own company!
