Tag: CEO

Briefing: CEOs seek skills for the future

Posted on by Guy Lean

According to PwC’s 18th Annual Global Survey, 61% of CEOs see more opportunities today than three years ago and 59% see more threats. We live in a dynamic world, business is being shaken up over and over again, but there are many ways in which business leaders can give innovation a place to shine in their organisations.

In this briefing four hospitality experts suggest that open-mindedness, flexibility, and investing in the right talent is key to success in an ever-changing world:

PwC’s survey of 1,322 CEO’s in 77 countries, found that 60% of CEOs are concerned about shifts in consumer spending and behaviours. A shift is certainly evident in the world of hospitality.

Having the right people in your organisation to be able to make the changes demanded by today’s consumer is important. It is also challenging. In PwC’s survey 73% of CEOs stated that they are concerned about the availability of key skills. This worry has been growing over the past years. According to PwC’s Global entertainment and media outlook 2014–2018, only 46% of CEOs had this concern in 2009. In 2010 this tipped over to 51% and by 2014 was at 63%.

The Being Digital Workforce Report from Accenture looks more closely at digital skills in organisations. It found that 44% of business leaders say a lack of digital skills is a key barrier to transformation. It also found that 49% of business leaders have a strategy for the management and development of skills and talent in a digital world, which means that just over half of leaders have yet to prepare for this need.

Digital technology itself is being more keenly embraced. In PwC’s survey 80% of CEOs said that mobile technologies and data analytics are key strands of their strategy.

If you’ve been sent to this page and you’re not yet on the circulation list to receive these regular briefings and you would like to sign up, you can do so here. It’s free.

Video clips produced by yBC for the Hospitality Channel, including interview from industry conferences such as the IHIF conference as well as specific Hospitality Channel shoots.

Briefing: The expansion of extended stay

Posted on by Guy Lean

A Special Report by Skift and Homewood Suites by Hilton found that there has been a 42.3% year over year growth in the pipeline for extended-stay properties in the US. Homewood Suites has 325 hotels in the US. Another growing extended-stay brand is Staybridge Suites, which has 101 hotels in the pipeline. With increasing awareness and demand for extended-stay accommodation internationally, there is high potential for growth.

Experts discuss extended-stays in a variety of accommodation types:

The report ‘The Changing Business of Extended-Stay Hotels’ found that the average age of extended-stay travellers is mid-40s. Also the 18-34 year old age group slightly favours extended-stay style accommodation for leisure trips.

The survey found that guests in extended-stay accommodation are more likely to be on business than leisure and that business travellers will stay longer.

Unsurprisingly the survey found that free wi-fi and a complimentary hot breakfast were considered the two most important amenities in an extended-stay hotel by both business and leisure travellers.

The survey found that only 45.4% of travelling Americans had stayed in extended-stay accommodation and 8.6% didn’t know what extended-stay accommodation was, suggesting there is potential for further growth in the market in America.

According to figures from STR, occupancy in extended-stay has been growing over the past few years. In the US, demand for extended-stay was 72.5% in 2012, 73.1% in 2013, and 74.9% in 2014. 125,000 new extended-stay rooms are expected to open in the US by 2018.

In the economy sector, STR data also showed that extended-stay supply growth was 2.6% YTD in May 2015 and ADR showed a 7.9% year on year change.

If you’ve been sent to this page and you’re not yet on the circulation list to receive these regular briefings and you would like to sign up, you can do so here. It’s free.

Video clips produced by yBC for the Hospitality Channel, including interview from industry conferences such as the IHIF conference as well as specific Hospitality Channel shoots.

Briefing: Major brands increase presence in Africa

Posted on by Guy Lean

The number of branded hotels in the African market is set to increase. According to a report from W Hospitality Group, Carlson Rezidor’s Radisson Blu brand has the most hotels in the pipeline (22 units), Hilton has 16 units, and Marriott has 11 units in the pipeline. Historically in Africa, financial and security constraints have often meant that projects in development are halted before they come to life. Despite this, there are clear intentions from major brands to enter new regions across Africa.

In this briefing hospitality industry executives discuss the hospitality market in Africa:

A special Market Report on Central Africa from Horwath HTL also states that, ‘more diversified global brands plan to enter the market’. According to the report 2,900 rooms are in the pipeline in Central Africa. This report also found that there has been an increase in business travel in this region.

Radisson Blu’s latest development is a hotel in N’Djamena, Chad. It will have 171 rooms, a health club, and conference facilities, and is due to open later this year.

Last month Hilton Worldwide announced an agreement to open its first hotel in Swaziland. The new hotel will be a Hilton Garden Inn and will be located in Mbabane. It will have 130 rooms and a dedicated event space.

Marriott International has plans to increase its presence in Africa. By 2020 it aims to have 150 properties with 19,000 rooms across 17 markets.

Current projections from the IMF’s World Economic Outlook say that GDP in Sub-Saharan Africa will be 4.4 this year, and in Nigeria will be 1.5. This indicates a slow-down in growth.

If you’ve been sent to this page and you’re not yet on the circulation list to receive these regular briefings and you would like to sign up, you can do so here. It’s free.

Video clips produced by yBC for the Hospitality Channel, including interview from industry conferences such as the IHIF conference as well as specific Hospitality Channel shoots.

Briefing: Routes to a successful hospitality career

Posted on by Guy Lean

The Guardian has ranked the University of Surrey no1 for hospitality courses in the UK, with a satisfaction score of 93.1%. Traditionally hoteliers start at the bottom of the ladder and work their way up, learning on the job. Today, Surrey is just one of many universities that are offering aspiring hospitality professionals a chance to learn before starting their career path with the company that’s right for them. Many hospitality brands also have programmes to train young people and graduates into the industry.

In these videos our experts discuss learning and development, and finding career success:

Many young people in the UK will be heading to university come September, some to hospitality courses, and they will have plenty of choice as to where they can study.

Surry gained top rank within the hospitality, event management & tourism subject area, from the Guardian newspaper. 93.1% of final year students who completed the National Student Survey were satisfied with the course and 68% had a job in the area or were in higher education after 6 months. Other top universities for hospitality include Coventry, Robert Gordon, Oxford Brooks, and Derby, which had top place in last year’s ranking.

Some students may venture further afield to the top ranking universities on an international level. École Hotelière de Lausanne won best hospitality management school 2014 at the Worldwide Hospitality awards. This Swiss university has been around since 1893.

After university, or in some cases instead of, young people may enter the industry through a programme with a hotel brand.

Hilton is an active graduate recruiter globally, they run formal entry programmes for graduates in Europe and visit key hospitality schools and campus events.

Marriot also has a Leadership Development Program for graduates called Voyage which is available in more than 30 countries.

A great career takes planning and thought, and it can be beneficial to start gaining the experience you need as early as possible. For those who have been in the industry some years there will still be scope for development and much to learn, they should think carefully about their next steps. There is of course no substitute for experience, a passion for the business, and finding the right fit for you.

If you’ve been sent to this page and you’re not yet on the circulation list to receive these regular briefings and you would like to sign up, you can do so here. It’s free.

Video clips produced by yBC for the Hospitality Channel, including interview from industry conferences such as the IHIF conference as well as specific Hospitality Channel shoots.

Briefing: Good data management brings insight and development

Posted on by Guy Lean

Our reliance on digital technology means that data is building at an increasing rate. According to IBM we currently create 2.5 quintillion bytes of data everyday and 90% of the data in the world today has been created in the last two years alone.

Much of this data is irrelevant but where businesses are identifying the correct data sources and taking the time to analyse them they are finding value. Hospitality business should also think about making accurate data available to guests and clients.

In this briefing four hospitality experts discuss data management and analysis:

Many disruptive businesses have digital and data front and center of their strategy.

In hospitality Airbnb employs ‘data scientists’ to analyse things like the likelihood of a host accepting requests from potential guests. This analysis can help them increase the amount of successful matches.

In other industries, companies like Uber have invested in clever data analysis to be able to make predictions about its customers’ behaviours outside of the cab.

Established hospitality brands are also investing in digital and data. In October last year Accor announced plans for its digital transformation, which involves a €225 million investment plan and focus on two ‘pillars,’ IT infrastructure and data management.

Much of the data used and produced today is on mobile devices. According to Accenture ‘50 billion devices will produce actionable data by 2020’.

Research by Ericsson found that mobile data traffic increased by 55% from 2014 to 2015.

If you’ve been sent to this page and you’re not yet on the circulation list to receive these regular briefings and you would like to sign up, you can do so here. It’s free.

Video clips produced by yBC for the Hospitality Channel, including interview from industry conferences such as the IHIF conference as well as specific Hospitality Channel shoots.

Briefing: Cost and convenience drive serviced apartment bookings

Posted on by Guy Lean

The latest Global Serviced Apartments Industry Report found that overall the price is the primary factor behind the decision to book a serviced apartment or a hotel.

There are variations in offerings across the serviced apartment/ extended stay/ aparthotel sector, but the main drivers for staying in these properties are clear. The report states that the ability to cook their own meals or entertain (71.6%), privacy (66.6%), and the apartment environment (58.3%) are influencing travellers to use serviced apartments.

In this briefing industry experts discuss serviced apartments and their customers:

GSAIR was put together by The Apartment Service, which states that serviced apartments are cheaper by about 15% – 30% than equivalent standard hotel rooms. This price difference makes it the winning option for many travellers. The report also states that 81.48% of travellers who have stayed in a serviced apartment prefer them to hotels.

According to the association of serviced apartment providers there is on average 30% more space in a serviced apartment, although guests forfeit the restaurants and extra communal areas in a hotel. The space allows people to have visitors and the kitchen facilities allow people to cook their own food, which can both save money and make the apartment feel more homely. This is especially appealing to people who need an extended stay and also to families with children who need the room and the convenience of a more home-like space and the ability to dictate the menu and meal times themselves.

Apartments are also popular with business travellers and are often used by companies in travel policies as a cost efficient option for employees’ business travel. According to Business Travel Insights 2015 nearly 75 percent of travel policies include serviced apartments as an approved option. One in every eight of corporate travel buyers surveyed for the Business Travel Show’s annual survey booked more serviced apartment accommodation in 2014 than 2013.

If you’ve been sent to this page and you’re not yet on the circulation list to receive these regular briefings and you would like to sign up, you can do so here. It’s free.

Video clips produced by yBC for the Hospitality Channel, including interview from industry conferences such as the IHIF conference as well as specific Hospitality Channel shoots.

Briefing: Hotels invest in innovative design

Posted on by Guy Lean

Last month IHG announced plans to open a new Hotel Indigo in The Sustainable City (TSC), a new large scale community development in Dubai. The city is intended to have the highest sustainability standards and the new Hotel Indigo will match this with a building designed to recycle all waste water and use 100% solar power. Also in May an innovative hotel design Snoozebox won the Good Design Award Trophy in the Architectural Design category at the Good Design awards in Sydney.

In this briefing four experts discuss the value of innovative design:

Great design ideas are helping hotel companies modernise, differentiate, increase sustainability, and tap into new markets.

Snoozebox is a self-contained portable hotel which can be set up at events and festivals as an alternative to camping. Each room has an ensuite wet room bed a TV and wi-fi. Each pod room is 7.5 square metres. Snoozebox is providing accommodation at many of the festivals around the UK this year including Glastonbury.
IHG’s Hotel Indigo brand has been around since 2004, it is focused on design with each hotel intended to reflect the area it is in and look like a boutique hotel despite being part of a brand.

CitizenM is another brand hinged on design. Its hotels incorporate bright colours, modern style furniture, ‘luxurious living room style lobbies’ and a 24hour canteen and bar to appeal to modern travellers and distinguish itself from more traditional hotel design.

The Good Design Awards is an annual international event which covers design in all industries. The European hospitality industry also has its own European Hotel Design Awards. Last year the wellness hotel the Lanserhof Tegernsee, Marienstein, Germany won the European Hotel Design of the Year Award at EHDA, and The Edible Hotel by Dexter Moren Associates won Tomorrow’s Hotel for a design with an open plan lobby, an edible wall, and an aquarium.

If you’ve been sent to this page and you’re not yet on the circulation list to receive these regular briefings and you would like to sign up, you can do so here. It’s free.

Video clips produced by yBC for the Hospitality Channel, including interview from industry conferences such as the IHIF conference as well as specific Hospitality Channel shoots.

Briefing: High staff turnover is costly for hospitality businesses

Posted on by Guy Lean

A new report from Deloitte, Hospitality 2015 – Game changers or spectators, found that employee turnover in hospitality can be as high as 31% and may increase further as the recession is left behind. This is nearly double the average rate for other industries and can be expensive for businesses. So how can hospitality businesses hold on to valuable staff for the long term?

In these videos hospitality experts discuss staff retention:

Staffing costs account for a tremendous proportion of hotel operation costs. Deloitte’s report states that, ‘An average hotelier spends 45 percent of operating expenses and 33 per cent of revenues on labour costs.’ High turnover rates cause extra costs in recruitment and training. According to the report 52% of the cost of replacing staff is productivity loss and 14% is orientation and training.

The report shows that the top barriers to retaining employees are lack of compensation increases and excessive workload. At entry level, hospitality jobs can typically have somewhat irregular hours and fairly low pay and can attract younger workers who may not considered hospitality a long term career. However hardworking, happy and engaged staff are essential for the smooth running of a hotel and the longer staff stay in their roles the more they will have to offer the company.

In order to impress guests companies need staff across the business who understand the industry well and are able to represent the brand at the level expected. It is well worth focusing attention on giving staff a good experience so that they want to perform their best.

If you’ve been sent to this page and you’re not yet on the circulation list to receive these regular briefings and you would like to sign up, you can do so here. It’s free.

Video clips produced by yBC for the Hospitality Channel, including interview from industry conferences such as the IHIF conference as well as specific Hospitality Channel shoots.

Briefing: Look to the Future of Hospitality

Posted on by Guy Lean

If we could take a glimpse at the hospitality industry in five or ten years’ time what would it look like? 95% of people think, ‘hotels will increasingly look to new technologies to drastically increase efficiency, reduce costs, personalize the customer experience and improve service’. In the Future hotels will need to provide more personalised service and enhance guest experiences online and off. They will need to connect with their guests and allow them guests to connect to their devices. They will be deconstructing and reimagining hospitality spaces and considering new possibilities.

This week our videos explore what the future of hospitality will look like:

Connecting to mobiles and apps can help hotels personalise service. According to Grant Thornton’s Hotel 2020 report: ‘46% of millennials agree that being able to check in/out using a mobile device would motivate them to return.’ The report also shows that towards 2020 hotels will be making a bigger effort to connect with customers on digital platforms, with 30% of global hoteliers planning to hire staff specifically for social media.

Technology will continue to enhance guest experience with guest being able to more easily control their room features through mobile devices. New technologies like augmented reality could change how travellers interact with the space around them using wearable technology or mobile phones. Some companies are already starting to use virtual reality technologies. Best Western gave children an opportunity take a photo with a virtual Disney movie star and Marriot offered a 4D virtual travel experience, as reported in the Guardian.

A survey for Amadeus, Hotels 2020-Beyond Segmentation, asked people in the travel industry and on hotel discussion forums about the future of hospitality. 86% of respondents thought that by 2020, ‘customers will have the ability to choose the size of room, type of bed, amenities, audio-visual facilities, business equipment, etc. on booking and pay accordingly’. 96% said that ‘hotels will need to develop strong social media ‘listening skills.’

If you’ve been sent to this page and you’re not yet on the circulation list to receive these regular briefings and you would like to sign up, you can do see here. It’s free.

Video clips produced by yBC for the Hospitality Channel, including interview from industry conferences such as the IHIF conference as well as specific Hospitality Channel shoots.

Briefing: Hospitality is a valuable job creator

Posted on by Guy Lean

Travel & Tourism is one of the world’s largest industries and offers many fantastic opportunities for a great career. According to figures from WTTC the industry supports 277 million jobs and generates 9.8 per cent of world GDP. In the UK hospitality currently has a 3 million strong workforce and, in the run up to the general election, is being recognised as a key contributor to the UK economy.

In this briefing four experts discuss hospitality careers and share why they fell in love with the industry:

Key political parties in the UK have mentioned hospitality and tourism in their election manifesto’s, with each pledging to support the sector through various means. The recognition for this suburb industry has been welcomed by the British Hospitality Association, an organisation which campaigns for jobs and growth in the industry. The organisation is campaigning for 60,000 new job opportunities for young people in the UK by 2016 and has recently reached the 40,000 milestone. A report from the TourismAlliance, UK Tourism Statistics 2014, states that, ‘Tourism is the fastest growing sector in the UK in employment terms, responsible for almost one third of the net increase in UK jobs between 2010 and 2013.’

According to UNWTO one job in tourism generates 1.5 jobs elsewhere. UNWTOs publication Measuring Employment in the Tourism Industries says; ‘International tourism continues to exceed expectations, supporting economic growth in both advanced and emerging economies and bringing much needed support to job creation, GDP and the balance of payments of many destinations.’

If you’ve been sent to this page and you’re not yet on the circulation list to receive these regular briefings and you would like to sign up, you can do see here. It’s free.

Video clips produced by yBC for the Hospitality Channel, including interview from industry conferences such as the IHIF conference as well as specific Hospitality Channel shoots.

Chat Button