|
|
Like this article? PLEASE +1 it! |  |
|
Investing Management in the Hotel Business
| Guest post by: Dan McDevitt |
Article Overview: Management is needed. When promoting your management services to hotel owners and lenders, do not oversell. None of us are experts in everything, but most of us have some expertise and experience and skills that are needed. You have one best foot. Put your best foot forward.
 |
Free Download - Management, Can You Help Me Here? By Dan McDevitt |
Investing Management in the Hotel Business
Much of the conversation and work in the hotel industry is about surviving. We talk about success we may see tomorrow, if we survive today. As operators, asset managers, management companies and intermediaries, everyone does their best to put a smile on our collective deer in the headlights face.
The struggles to make payrolls, pay the utility bills and other expenses, while scratching to meet mortgage and tax obligations, keeps many too busy to listen to the abundant theories for our disastrous condition.
A suggestion for hospitality professionals, wanting to promote themselves and their value, concerns how to sell, and not over sell, your services. Regardless of individual knowledge and experience, many people believe that it dilutes credibility to hold oneself out to be all things to all people. Recognize your specific area of management expertise, the hotel segment in which you excel. This is where you can do the most good for owners and lenders, and yourself.
The skill sets needed in hands-on and mind on hotel asset management are similar among the segments and brands. However, today's reality requirements call for the not so similar or average skills that may adequately meet the average need. In this new hospitality world, the needs are specific by segment, and need to have a laser focus pertinent to the individual property.
As an example, my experience, and understanding of the nuances of branding, market share and culture, in the limited service segment is well suited to serve clients and properties in that segment. My value is particularly strong in limited service. When discussing needs outside this segment, I will collaborate within my cultivated network, refer and work with those possessing the knowledge and skills that best serve the client.
Experienced professionals in the lending and investment community know that the majority of hotels in their portfolios will change hands, one way or the other. They seek clear-eyed asset managers and management professionals that can help them maintain the value of their assets and their equity.
Hotel Franchising
Lesson #5: Find Your Comparative Advantage and Step Beyond the Standard
Best Western India Franchise to add 10 more hotels by 2009 end
Chavana Spa forays into India with Four Points by Sheraton property Navi Mumbai
Booking Business Travel Lodging Myth
Key card electricity control
Reasons to Invest in Hotel Industry Franchises
How a Good Feedback System Can Help a Hotel Assess Customer Satisfaction and Encourage Performance
Wyndham Hotel Group signs four franchise agreements in India
Business Travel: Staying Connected when You Are Away for a Long Time
The Art of Making People Feel Welcome
The Art of Time Management: Leveraging Self Mastery for Wealth Creation
Customer Service - On A 1-10 Scale It Was 12.5
Le Sutra Hospitality mulls franchise expansion
Ambassador/Communication Skills Mastery and the Power of Words
Why You Should Invest
How a Local Dominos Gets All the Referrals It Can Handle
Investing Basics – What Are Your Investment Goals
Communication Skills and the Power of Words
Seasons of Success: How Sharp Took His Hotel To The Top
|
About the Author: Dan McDevitt RSS for Dan's articles - Visit Dan's website Dan McDevitt is a creative business consultant & intermediary. Experienced in hospitality, management and training, business sales and franchising. He takes a leadership position in helping others, clients and associates, reach their business goals. He has opened and operated several businesses, served in corporate management, marketing and training positions, and is Founder and Director at Marketserve Management & Marketing Studio. His wife Geri is a nurse, and their cat Romeo is the cat in charge. Dan writes articles and web content to help corporate clients and non-profits communicate with stakeholders and spread their message. He is an award winning author, speaker on leadership and business avancement, and is scheduled to release This British Reverend and Another Business Book in 2010. Click here to visit Dan's website   Live Consultant Thinking Looking at Honest Confidence and Integrity A Time to Reap and A Time to Sow The Heroes Plan Their Business The Laughter of Rats The Heroes Control Their Business |
Related Forum Posts
Your Intial Mistakes Business
- Hi,
When I started my business I had made a lot of mistakes initially. These helped me in learning the art of the trade and today when I look back, I feel that these mistakes were quite silly. I had made my learnings then and those
learnings have helped me time and again.
Some of the mistakes I made were -
i. Wrong Time Management
ii. Wasting money on glossy Brochures and Business cards
iii. Believing what they taught me at school was 100% correct
iv. Giving too much when it was not required......
I would like to find out what have been your faltering moments in Business when you had started and what/how did they help you grow.
Regards
No B.S. Time Management
- A great book I read on Time Management is No B.S. Time Management for Entrepreneurs by Dan Kennedy.
My entry
- 1. The Best Business Books Ever: The 100 Most Influential Business Books You'll Never Have Time to Read
- this is a fascinating book about the history of Business theory, and I'd recommend it to anybody.
2. The Big Book of Small Business: You Don't Have to Run Your Business by the Seat of Your Pants, by Tom Gegax. Ditto.
3. PADI: The Business of Diving Book
Okay, so this book won't be of use to anyone who doesn't want to start a scuba store, but I did, and this book was of course invaluable to me in reaching that goal.
Top 19 Copywriting books
- 1. Ogilvy on Advertising. David Ogilvy. Wiley.
2. Positioning: The Battle for your Mind. Al Ries and Jack Trout. Warner.
3. The New Positioning. Jack Trout. McGraw-Hill.
4. Tested Advertising Methods. John Caples. Prentice-Hall.
5. How to Make your Advertising Make Money. John Caples. Prentice-Hall.
6. Guerrilla Advertising. Jay Conrad Levinson. Houghton Mifflin.
7. Direct Mail Copy that Sells. Herschell Gordon Lewis. Prentice-Hall.
8. Sales Letters that Sizzle. Herschell Gordon Lewis. NTC Business Books.
9. Herschell Gordon Lewis on the Art of Writing Copy. Herschell Gordon Lewis. Prentice-Hall.
10. Romancing the Brand. David Martin. American Management Association.
11. The Art of Writing Advertising: Conversations with William Bernbach, Leo Burnett, George Gribbin, David Ogilvy, Rosser Reeves. NTC Business Books.
12. Confessions of an Advertising Man. David Ogilvy. NTC Business Books.
13. My Life in Advertising. Claude Hopkins. NTC Business Books.
14. Scientific Advertising. Claude Hopkins. NTC Business Books.
15. How to Become an Advertising Man. James Webb Young. NTC Business Books.
16. The Lasker Story as He Told It. NTC Business Books.
17. Advertising Concept and Copy. George Felton. Prentice Hall.
18. The Copy WorkShop Workbook. Bruce Bendinger. The Copy Workshop.
19. Hey, Whipple, Squeeze This: A Guide to Creating Great Ads. Luke Sullivan. Wiley.
This should keep you busy for at least a year.
Enjoy!
HRPreneur
- Hi everyone,
I am new to the forum and I recently started my own Human Capital (HR) consulting firm called HRPreneur Inc. HRP focuses on making human capital a strategic differentiator for SME's.
Below is a summary about HRP;
Who We Are:
HRP is a Human Capital consulting firm with 30 years of experience that becomes an extension of your company by providing a full array of services to help you create a highly engaged workforce focused on achieving strategic results in order to build a long lasting great company!
Mission:
HRP provides small and medium sized businesses a Strategic HR Business Partner to increase employee engagement, resulting in cost savings, increased productivity and results at an affordable rate!
Vision:
To inspire and warrant SME's reach their full competency!
Cost Effectiveness:
We provide over 30 years of experience at a fraction of the cost at a strategic executive HR business level
You will save between 50% to 60% in costs per year on salary, bonus, benefits, training, office space alone
We will provide you additional cost efficiencies through our services
Services:
• Strategic Human Resources Planning
• Organizational Redesign
• Change Management
• Organizational Culture Development
• Employee Engagement Programs
• Leadership Assessment and Development
• Compensation Design
• Talent Acquisition
• Assimilation and On-Boarding
• Performance Management
• Talent Management & Succession Planning
• Human Resources Due Diligence
• Human Resources Audit
• Full Service HR Outsourcing
Share this article with your friends. Fund someone's dream.
Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.
by: 
How To Use Carbon Copy Pro As A Strategic Tool For Your Business
Best Automated Forex Trading Strategy
Build Your List with Joint Venture Giveaway Events
May 2012 Top 100 Social Media Experts to Follow on Twitter
What to measure to be phenomenally successful in business
Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!
RULE YOUR BUSINESS LIKE A SHINE STAR
Selling On Ebay The Good The Bad And The Ugly
3 Key Factors For Raising Capital
Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.