operators learned from the last two years , and how will it impact future strategies ?
Residential will become increasingly important . Sales of projects are at record pricing and pace . Many new homeowners see the benefits of owning homes that are part of a branded hotel project . More than anything , it has further validated hotels ' business proposition and belief in residential .
first step toward overcoming hotel staffing challenges . Hotels must develop more cost-effective and efficient practices that increase staff retention , customer satisfaction , and improved long-term profitability . According to the Bureau of Labor Statistics , the Hospitality sector has an annual turnover rate of 73.8 % - worse than ever due to COVID . In other words , more than 6 % of staff will leave their job every month . Understanding the ROI of staff retention is essential for boosting ( or even maintaining ) your profit margins and business economics .
Understanding human capital ' s return on investment ( ROI ) is the
The Ocean Club Bahamas - A Four Seasons Resort
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