NEW FACTORS
HOW WILL THIS EXPERIENCE CHANGE THE HOTEL BUSINESS LONGER TERM ?
I WOULD LIKE ... A PERMANENT COGNITIVE TASK FORCE WHOSE RESPONSIBILITY SHALL BE TO CONSTANTLY MONITOR AND ASSESS RISKS AND OPPORTUNITIES , FACTORING IN GLOBAL VOLATILITY AND POTENTIAL CHALLENGES TO BUSINESS THROUGH VARIOUS SCENARIOS .
PUNEET CHHATWAL
Scott Dyde , director , Sala Design Group , Singapore “ We will issue safety travel packs consisting of face mask and alcohol gel to team members when they travel .”
Jan Kuehnemann , managing member , Kuehnemann Business Advisors , Dallas “ Revisit all F & B offerings — especially free breakfast buffets in select-service hotels — making the shift to grab bags permanent . This will enable us to be proactively prepared for exigencies and become the global benchmark of business excellence .”
Puneet Chhatwal , managing director , CEO , The Indian Hotels Co . Ltd ., Mumbai “ We will need to streamline operations for higher operational cost effectiveness and efficiencies . Marketing will change with enhanced personalized communication to our guests and other stakeholders . Development is not envisaged to be impacted in the long term , though some government reliefs or incentives are always welcome .”
Laurence Geller , chairman , Geller Capital Partners , Chicago “ It won ’ t . We will slip back to our bad habits because people have short memories and forget . Old people like me who have been through recessions since 1973 know that very few look back at history and , if they do , ignore it at their peril because they think they are smarter than everyone who has been through it before . The brands are probably the biggest culprits , as they encourage more and more programs and standards without commensurately reducing the more redundant programs . But they are not alone and while admiring energy and vitality combined with creativity , we need balanced fiscal prudence .”
Steve Kirby , managing principal , Mumford Co ., Buford , Georgia “ The amenity creep that requires economy properties to operate with similar staffing as mid-market and upper level is over .”
Fernando Rocha , chief development officer , Fibra Inn , Monterrey , Mexico “ Much more focus on cleanliness , ventilation systems , even materials used for FF & E .”
WE WILL SLIP BACK TO OUR BAD HABITS BECAUSE PEOPLE HAVE SHORT MEMORIES AND FORGET .
LAURENCE GELLER
Michael Bellisario , senior research analyst , Robert W . Baird & Co ., Chicago “ Leverage levels likely will be lower as recency bias kicks in and developers , owners and lenders reconsider possible downside scenarios in their underwriting . Lower leverage overall could reduce long-term returns from an ownership perspective .”
Chris Stanley , vice president , franchise sales and development , Radisson Hotel Group , Minnetonka , Minnesota “ My biggest concern is potential company mergers and buyouts . More ‘ big boy ’ companies will damage the industry image .”
Kristin Thorsteinsdottir , vice president of development , Club Med , Paris “ It will hurt asset heavy operators hard , so the asset-light model will become even more relevant . It will weed out operators that did not have solid balance sheets .”
May 2020 hotelsmag . com 15