HX Panels to Attend When it Comes to Watching the Bottom Line
Watching all kinds of costs is an everyday occurrence for hotel general managers and owners. From labor to renovations to FF&E, the list of items that cost money in hotels seems to be never ending.
At HX, we want to help attendees address these issues and learn best practices from seasoned hoteliers in the field. We will be presenting several sessions on cost-related topics.
One of these sessions will be "Proven Strategies to Maximize ROI in Today's Hotel Landscape." The speakers are the following hospitality industry experts: Amish Naik, vice president, development and owner relations, PM Hotel Group; Biran Patel, treasurer of AAHOA and partner, BHP Investment CoHarshil Patel, vice president, Champion Hotels; and Raj Chudasama, managing partner, Kriya Hotels. David Eisen, director of hotel intelligence and customer solutions, HotStats, will moderate. This panel discussion will take place on Monday, Nov. 12, from 10:45 am to 11:45 am.
One way to increase ROI that Biran Patel has found very effective is to have sister hotel brands that are part of the same parent lodging company share one site.
"You would only need one back-of-the-house system, one pool, on fitness center - which allows you to save money and still serve your clientele," Patel said.
You also want to make sure that your brand is positioned in the right market. "You need to fully understand your target market and provide what guests want - and cut out those extras that they don't really need," he added.
For instance, Patel pointed to the potentially wasted food items on breakfast buffets that can hurt ROI. "Consider serving six or seven really great food items, rather than 20 food items which may all not be that popular with guests."
There will be additional HX informational sessions that will address cost-related topics.
On Sunday, Nov. 11, from 11:00 am to 11:30, Ann Nickolas, vice president, national accounts, Shred-it, will present: "The Real Cost of an Information Breach and How to Avoid it in the Hospitality Industry." She will discuss that information security is more than just firewalls and passwords. Paper documents in all forms - from guest correspondence and confirmations to invoices and credit card receipts - present real risks of an information breach for you, your guests, and your hotel. In this session, you will discover all the ways a breach can cost you revenue and get practical steps for protecting your hotel from risks, fine, and penalties.
And, a third session, "A Sneak Peak of the ISHC (International Society of Hospitality Consultants) CapEx 2018 - A Study in Capital Expenditures," will examine data and trends and how to make the most of your CapEx dollars. Panelist will be: Chad Sorenson, managing director and executive vice president, CHMWarnick; Darlene Henke, president and chief executive officer, Audit Logistics, LLC; and Stacey Greene, vice president of design and construction, Chesapeake Lodging Trust. The moderator will be Andrea Belfanti, executive director, ISHC. This discussion will take place on Monday, Nov. 12, from 10:00 am to 10:45 am.