Immediate impact is tough without well thought out strategies. Having said that, I don’t recommend rate slashing – that only erodes integrity and reduces revenue that might have booked anyway. Review STR and Hotelligence reports, and ensure appropriate rates are in place, then FOLLOW THROUGH
Problem is usually there is a pro-forma that is so inflated and the budget is based around that. it is difficult to pay out on lowered goals when the hotel is having a hard time making debit service. It seems short sited but the banks are asking for payment on the hotel and will not approve a bonus if there is no margin. If the GM’s had some hootspa they would explain the scenario so bleeding does not increase. I agree with you just stating the obstical nessarily
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Give employees long term goals that actually help them build character and principals for good human relationships.
The shadow of a human does not separate from its form.
Immediate impact is tough without well thought out strategies. Having said that, I don’t recommend rate slashing – that only erodes integrity and reduces revenue that might have booked anyway. Review STR and Hotelligence reports, and ensure appropriate rates are in place, then FOLLOW THROUGH
So what channels are you seeing produce the best?
Problem is usually there is a pro-forma that is so inflated and the budget is based around that. it is difficult to pay out on lowered goals when the hotel is having a hard time making debit service. It seems short sited but the banks are asking for payment on the hotel and will not approve a bonus if there is no margin. If the GM’s had some hootspa they would explain the scenario so bleeding does not increase. I agree with you just stating the obstical nessarily