Briefing: The value of thoughtful recruitment

Recruiting new ways of thinking into your business can be very advantageous. A study by Delloite says that ‘diversity of thought’ within a team can ‘help increase the scale of new insights’ and ‘guard against overconfidence’. Teams that hold a variety of skillsets, identities, and backgrounds will challenge each other and encourage learning and innovation. Whoever you choose to bring into your business, ensure you are supporting them to achieve their best.

Our experts look at the importance of thoughtful recruitment and training:

The advantages of having diverse teams, beyond the immediate social importance, is noted in various studies. McKinsey found that ethnically diverse companies are 35% more likely to financially outperform competitors. While a study in a PNAS journal revealed that traders in diverse markets were better at accurately pricing stocks.

When recruiting new employees you should consider ‘what they can bring to the team’, and also what they can bring out in a team and what you can bring out in them. Think about more that filling a gap and relying on old habits and assumptions, but really look at how they can fit in the business and work to help them develop, as discussed in the above videos.

A drive for recruitment and upskilling in the industry is needed this year is especially in light of Brexit, which could see UK hospitality businesses losing many of their valuable staff. BHA say that “Assuming that 10% of the EU workforce (70,000) leave the sector and/or the UK each year and the industry’s total headcount grows by a conservative 1% (45,000) annually, the annual recruitment need is for over 100,000 people.”

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

Briefing: Deal-making in today’s hotel market

Hotels are a strong commercial property asset class but there are many global factors at play changing the hospitality landscape. According to JLL, the first six months of 2016 saw Asia become the largest source of outbound capital flowing into global hotel real estate. The report also found that global hotel deal activity in the first half of 2016 declined 52% year-on-year to US$24 billion.

In these videos four experts discuss investment in hotels:

There are many great technological changes happening in the industry all the time, but as discussed in the above videos, investment decisions largely come down to profit and reliability.

This year there has been uncertainty in all markets causing a slowdown in deals. A report from JLL shows that overall Real Estate transactions in the first half of 2016 is 10% lower than the first half of 2015.

JLL also found that New York is the most liquid city in the world, with hotel transactions reaching US$2.3 billion as of June 2016. While in Asia Pacific, Japan is top with US$2.2 billion worth of transactions in H1 2016, and accounts for over half of regional transaction volumes. In China there has been an increased level of investment activity, up 118% to US$244.2 million.

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.tv for the Hospitality Channel, including interview from industry conferences such as the IHIF conference as well as specific Hospitality Channel shoots.

Briefing: The distribution channels keep coming

In June, Ryanair announced its intention to enter into the world of accommodation. “Ryanair Rooms” is just the latest addition to the changing sphere of hospitality distribution. The company has 116m customers and this move from air travel to accommodation booking, again highlights the potential for any established brand to disrupt the industry. There is still much debate around where Airbnb, which has a “mission to change the way people travel”, could sit in the industry in the future.

In these videos, experts discuss developments in distribution and booking behaviour:

In April this year Airbnb launched an updated mobile app with a focus on personalisation that aims to match people to better hosts, neighbourhoods, and experiences. This product indicates Airbnb’s continued effort to use developing technology as an edge.

Ryanair Rooms will launch on the 1st October, and will provide a variety of low cost accommodation in the form of hotel rooms, hostels, B&Bs, holiday villas and homestays. Diversification is a common move from aspirational business in today’s business world. Ryanair sees this as a natural progression towards Ryanair.com becoming the “Amazon of air travel”. Ryanair already has a hire car service which it launched last August.

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.tv for the Hospitality Channel, including interview from industry conferences such as the IHIF conference as well as specific Hospitality Channel shoots.

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