THE BULLETIN
Zuckerberg ’ s “ Year of Efficiency ” is not virtual reality
I
’ m not an avid Facebook user . I used to be . Now , it ’ s mostly comprised of people I didn ’ t really like in high school superciliously posting pictures of their kids . I do engage with Instagram , not frequently posting ; rather , to stay abreast of the latest dance moves and tune into Instagram Live sessions with the comedian Marc Maron .
I ’ m not a big Mark Zuckerberg fan . Is anyone ? He appears devoid of feeling , abnormally doesn ’ t blink — all in all he reminds me of some unemotional lead in a low-budget , late-night sci-fi flick . He may also have reptilian blood coursing through his veins . Who really knows ?
Of course , he ’ s also one of the richest people on planet Earth , which means when he does something , everyone sees it .
On March 14 , he did something , or rather wrote something , something like a corporate manifesto . He titled it “ Update on Meta ’ s Year of Efficiency ” and , beyond his use of the serial comma and corporate speak , I found the substance of it pragmatic and suited for these times .
When I read it , my mind immediately drifted to hotels , not AI and robot dominance . Some derivation of the word “ efficient ” appeared 19 times within the 2,184-word screed .
Now , when a CEO employs the word “ efficiency ,” it ’ s essentially code for tightening the belt buckle — layoffs , hiring freezes , etc .— because even titans of industry still must pay electric bills .
Hotels are not tech companies , but they can learn something from Zuckerberg ; namely , running a property more “ efficiently .” That doesn ’ t mean laying off staff — those tough decisions were made as COVID wrapped itself around the industry and squeezed — but adopting measures that focus as much on revenue generation as cost control .
Removing some elements of redundancy and flattening operations can help — think clustering and consolidating revenue management and accounting practices , for example — but efficiency can also mean investing in the asset .
Technology has a huge role to play in creating efficiency and having the right tools to run operations is vital — think CRM , PMS , POS , all the three-letter acronyms that make a hotel go and streamline processes . Remember : investment should result in a boost to not only guest experience but employee experience .
Invest in the bones . No one enjoys parting with money , but CapEx spend comes with the territory . This means taking preventative measures now that won ’ t cost you more down the line . That ’ s efficiency . Communication . Like Bill Marriott says , take good care of your employees and they ’ ll take good care of your customers and the customers will come back . That ’ s efficiency . Part of communication is a constant loop of feedback between front-line employees and managers . Communication should always be a two-way street , never a dead end . Make sure lines of communication are open between staff and management and encourage discourse . Problems can ’ t be fixed if you don ’ t know there is one .
Not all efficiency is about a stronger bottom line , but it can lead to one . With the myriad headwinds blowing hard in the face of hotel owners , efficiency has never been more vital for a successful business outcome .
And if you don ’ t believe me , believe Mark : “ When I wrote my first letter to investors during our IPO , I described a basic principle that is still true today : we don ’ t build services to make money ; we make money to build better services .”
Now that ’ s a metaverse I can live in .
Editor In Chief
EDITORIAL David Eisen Editor In Chief
Kathakali Nandi Editorial Writer
Tatiana Valenzuela Editorial Coordinator
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Contributing Writers Juliana Shallcross , Rayna Katz , Anayat Durrani , David Lund , Derek Herscovici
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INTERNATIONAL ADVISORY BOARD Nakul Anand Executive Director , ITC Ltd ., Gurgaon , India
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