Dear Round-Up Readers, Lots of news to share, but before we get to that..have a look at the banner ad at the base of this email for ALHI's leadership webinars, "Thinking Differently" with Dr. Laila Rach, which we highly recommend. Ads on Round-Up have helped ALHI get the word out, do you have a program or service you'd like to promote to our engaged and loyal readers? Email me! We are putting together our calendar of sponsors for next year right now. On to the news: - OH-micron! The jury is still out on the impact of Omicron, the latest variant of COVID, but many countries have put travel bans, even though the WHO and experts say travel bans are not as helpful as the increased testing and isolation protocols. The New York Times asks, cancel or not to cancel? It is the question on everyone's mind as we get closer to the holidays, and for the travel sector, CNBC says, Omicron clouds outlook for international travel just as it was turning a corner.
- Resilience, adaptability, or both? The ups and downs of COVID, are testing everyone's resilience but perhaps, more importantly, our adaptability. Resilience is the ability to keep moving when the going gets tough and adaptability is the ability to take stock and change strategies in dynamic situations. Both are important for growth, especially in these challenging times. Read more on adaptability in U Penn Professor Angela "Grit" Duckworth's blog The Character Lab in a guest post by Professor Andrew Martin.
- MUST-SEE TV: this week Bloomberg TV ran a profile of Marriott CFO, Leeny Oberg, where she discusses the future of the industry, how technology is shaping everything from bookings and guest service to labor management, Marriott's culture of diversity, leading by listening, and more. Highly recommend––only 24 minutes.
- Hotel real estate advisory firms JLL and CBRE released reports suggesting a new normal for 2022. Links to JLL and CBRE, but in short both firms agree on a few main points:
- a change from RevPAR to Total RevPAR––this means that as hotels reinvent themselves, looking at the total revenue of the whole hotel and how every square footage of the hotel impacts the bottom line.
- the labor shortage is a top concern, a property's labor strategy is the most significant challenge and JLL notes, "the entire "employee experience" must be rethought with hotel owners and operators needing to adopt a holistic approach when recruiting, hiring, and training both lower wage and supervisory level employees. If done right, a hotel’s labor strategy can become a valuable competitive advantage.”
- Group bookings are coming back in 2022, but leisure is still the main demand generator. CBRE surveyed 130 hoteliers and owners and found some good news in that 83% had group bookings for 2022.
- Companies say: please stay. As labor remains a challenge, CNBC says the "stay interview" is the next big trend. The opposite of an "exit interview" a "a stay interview focuses on what motivates the employee to stick around, what could be better about their work experience, and how they envision the next stage of their career within the organization."
On hertelier this week: If you're a new subscriber, you may not know hertelier was featured by the Cornell University SC Johnson School of Business! Please CLICK HERE to read about the community YOU are helping to build for women in lodging! If you're still reading this, you must like hertelier...please help us grow by sharing the site with your colleagues and friends! Anyone can sign up for this weekly email here. Have a great week, Emily |
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