Wednesday, April 29, 2009

Hotel Management and Operations

The hotel business is one of the most competitive businesses in the world or the better word is ‘most cut throat’.

To run a hotel successfully it is important that the hotel management should be good and world class. Before making any change in the trends one should take a look to every aspect as any changes in the trend also have a wide impact on the diverse industries.
One of the biggest problems a human resource manager faced in managing is employee retention. As hotel industry gives a large number of job opportunities to part time workers which after gaining the relevant and desired experience always leave the jobs. Hotel Industry offers low wages which is also one of the major reasons for the low retention rate in this industry.

Hotel management should be done in terms of the guest interest as well because of the growing concern over environment friendly services; most of the people want a green and eco-friendly environment. So the hotel management should be interested in making their hotels more eco-friendly and green because people are ready to pay extra if the are getting an environmental friendly lodgings.

For a successful business Hotel operations also play a lead role. Some hoteliers try to be focused by improving specific departments operations where as some other try to improvise by a hotel-wide approach, some form of quality assurance service is also been implemented by some hotel and companies. But the two important areas that receive the attention by the officials were maintenance and the front-desk, study shows that by improvising in the operations hotels have experienced the increase in guests and also in employee satisfaction along with the improvement of profit as well.

Revenue management is also play a lead role in the success of any hotel. Aggressive Revenue is always a good practice and it has to be balanced with how the hotels normally manage their guests. Working with loyalty is always better to get a higher growth then charging some higher rates from certain group of customers or trying to overbook the rooms just to ensure less then full occupancy. These practices always hamper the loyalty of the customers and disgrace the hotel’s reputation as well.

Hotel sales can always be increased by a good reputation building with the customers and always being ready to help them with their issues. A good sales manager should never over estimate the requirements. He/She should always be ready to face the negatives that come up along the way. Hotel sale staff should always know how to close the sales call as it is the most important part of the entire conversation.

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AAHOA - A legend of Hospitality Industry

“THE voice of owners in the hospitality industry” AAHOA was founded in 1989 with a mission a vision to make there name in hospitality industry and it had a unbelievable two decades and it had number of achievements during this course .Today the Asian American Hotel Owners Association (AAHOA) is one of the dominating organization in the hospitality industry in the United States. The key to AAHOA’s success has been there dedication towards there work and also towards the welfare of there members. Ashwin "Ash" Patel is the chairman of AAHOA.

AAHOA focuses on the interests of its members by inspiring excellence through programs and initiatives in industry leadership, professional development, membership benefits, and community involvement. AAHOA has over 8000 members along with more than 22000 hotels. The members of AAHOA has there hospitality properties across United States and covers around 37 percent of the hotel property in US. From the hotels owned by AAHOA, near about 12,700 are franchised and 7,300 are independent. The main motive of AAHOA was to make good relationship between franchisors and their franchisees and got very much succeeded in doing it. This had a positive impact on the hospitality industry.

After India got independence in 1947 many Indian thought of moving ahead in there life and went to America to find educational opportunities and got attracted towards the hospitality industry. During this period the hospitality industry was very much in demand because of its heavy need in the market and the money related to it. Indians struggled to start off well in the hospitality industry in America because of many causes. They face problems from banks and also from many insurance companies. The Indians faced discrimination from the banks and insurance companies in America and to fight against this the Asian American Hotel Owners Association (AAHOA) was founded by a group of Indian hotelier in 1989. The Name “Patel” became famous in the American Hospitality industry. Today more than 60 percent of the members surname is Patel.

When AAHOA was founded it had only 100 members but today it has more than 8000 member. This is a clear indication of the development and also the domination of AAHOA on the hospitality industry. Since 1989 it has climbed many ladders of success and there graph is moving higher and higher which is a good sign for the hospitality industry. AAHOA is a non-profit association and its main focus is to provide education and advocacy to its industry.

Today the market value of the properties owned by the members of the Asian American Hotels Owner Association has reached approximately $29.9 billion in franchised property and $8.1 in independent property and it is still growing day by day. AAHOA has made a great impact on the hospitality industry and it will be interesting to see what more it provides to the industry and also the world.

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Hospitality Management and Human Resource Management go hand in hand

An important part of all the organizations is Human Resource Management. Human resources can be counted in one of the most valuable assets for a company. It is very necessary that human resource management runs smoothly for the benefit of the organization.

Employing the right person for the right job with right personality is what human resource management is.
Hospitality management and human resource management when combined together bring about a new opportunity that helps one to understand the critical issues in managing people in an organization. The combination also highlights work’s social context and expertise with reference to operating and managing hospitality business.

In order to gain competitive power for the hotel, human resource management is an elementary issue. Human resource management can be regarded as the foundation for the hotel to acquire competitive advantage.

It is the proper human resource management that guarantees sustainability of your business. Innovative activities and ideas of the hotel get highlighted by the talents of the hotel thereby affecting the overall development of the hotel.

It’s all about service in the hotel industry. Human resources play an important role in developing the greatest asset, the people and helping them to out stand others.

Recruiting qualified, energetic and motivated people and developing their skills so that they remain in the field for a long time.
As it is said there is no business without customers and hospitality industry is all about getting customers.

It’s true that hospitality management and human resource management go hand in hand.
Honoring the employees through effective communication, training programs for the employees and benefit programs is what effective hospitality management is all about.

Human resource management and effective hospitality management is the corner stone of successful business in hospitality industry.
Hospitality management along with apt human resource management provides:
• Training the employees,
• Involvement of management in achieving key goals,
• Conducting surveys,
• Encouraging the feeling of team spirit in employees,
• Retaining the talented professionals,
• Focusing on core business.
Human resource management deals not only with recruitment but includes: staffing, training, working in a team and much more!
Effective human resource management is all about creating better relationships between employees and employers. Quality of staff is another important issue involved in human resource management.
Human resource professionals in hospitality industry ought to manage the staff differently.

Thus, the human resource professionals in this industry ought to manage the pool of staff in their companies differently from other industries.
Effective human resources management for hotels helps to provide a basis to increase the productivity of the hotel.

Human Resource Management and Hospitality cannot be separated. Managing human resources effectively along with hotel industry takes a look at HRM policies and practices followed in the tourism industry.

Application of theory to real life situations and developing a team spirit among members of staff, thereby enhancing thinking and communication skills is what Human Resource Management in hospitality involves.
Human resource management in hospitality covers many areas of hospitality industry.
In short, it can be said that Human Resource Management is a great help in bringing about the best quality of service.

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Human Resources Management Tips for Hotels

Hotel Industry is one of the most competitive businesses in today’s times. The human resource department always has some issues in his hands be it regarding complaints of employees or customers or regarding the annually turnover. To deal with all these problems/issues in a proper manner, what is required are human resources management tips.

1. Right person for the right job: This is the first tip that every human resource should consider at least once before employing a person. Choosing the right person is one of the most difficult and elementary issue. The human resource manager should make it a point that the person employed for a particular job will do the job correctly and will stay in the organization. Interviewing the candidates will definitely bring out their mind perspective regarding the job.

2. Is the employee enjoying? : The next step after employing a person on job is to see if the employee is happy with the job he/she is doing. The manager and the other staff members should make it a point to supply all the necessary training material to the candidate required on job.

3. Performance reviews and incentive programs: A follow up on the employee’s job is a must. Hotel experience gets better for both employees and customers if performance reviews and incentive programs are provided. For making the employees stay, it is necessary that they realize the benefit of working.

4. Positive reinforcement: To have positive reinforcement is another tip for human resource manager. To get better work done from employees, it is necessary to maintain a friendly environment and relations with the employees.

5. Progression plan: Hotels must implement a progression plan for the employees which can be used by the employees to get promotion in position and rank. A clear progression plan helps the employees to stay at the place where they are working.

6. Catching employees for work: It’s the duty or responsibility of the human resource manager to see and catch employees for right job as everyone likes to get noticed when doing a good job. This is very important as happy staff members seen by the customers will bring them back to the hotel.

7. Be an example: The human resource department should be an example for the other employees of the hotel. If the employees see the human resource department doing poor work, the work quality of the rest of the employees will definitely decrease. It’s the human resource department that can help or encourage other employees to work hard and improve their work quality.

In today’s times, the above hotel management tips can surely help to eliminate problems that most human resources managers have.

Human resource management tips for hotels are the basis of increasing productivity in the hotel and also the service level. The position of human resources is one of the most important jobs in the hotel so it is very important that it runs professionally and in a synchronized manner. To gain competitive power in the hotel industry, it is mandatory that human resource department works well.

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Tuesday, April 14, 2009

Benefits of Asset Management

It is now being realized by companies that asset management should be a key component of business. Effective asset management can increase the profits and contribute in business in a big way yielding more profits.

Also, it is to be considered that every asset category needs a different focus from management’s side. Regular maintenance is required by fixed assets.

It is the assets that help in proper delivery of goods and services.

In situations where there is an operator in place, Innovative can provide complete asset management services concentrating on reviewing property operations and capital expenditures; identifying opportunities to increase profitability; ensuring competitiveness in procurement; ensuring the hotel operator is focused on the critical elements of success; and analyzing results on behalf of ownership.

Specifically, the following are provided:

• Maximizing property return through the pursuit of strategies for value creation.
• Reviewing and analyzing monthly operator performance.
• Participating in planning and monitoring of capital projects.
• Administering owner relations and represent the company at board meetings.
• Reviewing annual marketing plans and budgets.
• Reviewing asset positioning and make comparisons to market competitors.
• Assembling and evaluating pertinent market and economic data.
• Assisting with legal issues and contract compliance.
• Preparing financial projections and valuations.
• Preparing quarterly investment performance report, and
• Administering legal, tax and accounting formalities for each property.

Effective Asset Management differs from one organization to the other depending on the needs and objectives.

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Wednesday, April 1, 2009

Asset Management in business

The key to effective business making is ‘Asset Management’.
The management of securities like shares, bonds etc. and other assets like real estate that helps to meet the desired investment goals from investor’s point of view is what Asset Management is all about.

The investors may be insurance companies, other corporations or private investors.
Managing investment of collective investments also refers to Asset Management.

Asset Management is also called as ‘Investment Management’ and includes managing elements dealing with financial analysis, selecting assets and stocks, implementing plans and monitoring the investments.

The global industry responsible for taking care of dollars, euros and pounds around the world is Asset Management.
Every business organization makes it a point to implement strategies that maximize returns on assets. Returns are maximized by reducing the costs incurred in operations and improving the maintenance and utilization of assets.

Asset Management solutions in an enterprise help to provide:

• High end and complete solutions for managing the assets,

• Updated information to maintain data that helps in decision making.

Other than providing complete solutions and helping in decision making, Asset Management also supports the strategic plans and operating procedures that help in increasing productivity and reducing costs.

Another definition of Asset Management could be yielding savings in business so as to increase the life cycle of assets. With this approach, the entire life cycle improves beginning from the planning phase to the disposal of assets along with specification, designing and maintenance.

In short, Asset Management in an enterprise is all about dealing with the fact that how a particular solution will work and help to serve business in a better way in accordance with the requirements of the organization.

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Monday, March 23, 2009

Opportunities For Hospitality Industry

To maintain long term and loyal relationships with the clients/customers is the main aim of every business. This provides for a great opportunity for hospitality industry. A very efficient way hotels are employing to increase revenue is providing services that increase customer loyalty. When given importance and implemented diligently it improvises service which in turn leads to increased up-sell and cross-sell rates. Today the Tourism industry is well connected across the globe giving high importance to tourism. Custom or tailor made packages and schemes are being offered to customers globally for almost all the destinations across the world. With the averment of new technology and trends the expectations of the customers has increased, hence the competition within the industry has also increased.

Complete package is the talk of the day. It ranges from worldwide hotel reservations, package tours, airport transfers, sight-seeing tours , freebies for children among others are being provided. Tourism companies are largely outsourcing online processing services and customized booking engines and others for increased visibility and customer satisfaction.

This eventually helps the industry in building customer relationship and selling more services to the people. The key is "FCR"or First Call Resolution so that when customer hangs up the phone, they are provided with correct information and their issue is resolved. Treating customer in a nice way is what managing the entire thing is all about.

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