News for the Hospitality Executive
Principles for Success:
by Dr. John Hogan, CHE CHA CMHS
March 1, 2011 Benchmarking1 is the process of comparing one's business processes and performance metrics to industry bests and/or best practices from other industries. Dimensions typically measured are quality, time and cost. Improvements from learning mean doing things better, faster, and cheaper.
Benchmarking involves management identifying the best firms in their industry, or any other industry where similar processes exist, and comparing the results and processes of those studied (the "targets") to one's own results and processes to learn how well the targets perform and, more importantly, how they do it.
In my career, I have had to prepare and provide reports over the years that have at times been meaningful. I also recall at other times reports that have been a total waste of time, as they had outlived their usefulness or were no longer relevant. As a consultant, one of the tasks I often recommend with a new client to allow me to work with select members of the team to establish the value of what is being measured and reported.
Some potential items for consideration, whether you are the "chief" officer in management, marketing, finances or human resources, might include:
Last month, I was presenting at a program for a national company (MeetingsQuest) at the beautiful Fairmont Copley Plaza (that will be celebrating its 100th anniversary in 2012) in Boston, Massachusetts. I walked the five blocks to the 1500 room Sheraton Boston Hotel & Towers , which had been my first assignment after graduation from the University of Massachusetts. As a management trainee, I experienced many “firsts” for me in this building, but I also had the opportunity to learn from seasoned veterans in many positions. The Sheraton was the flagship of the chain at that time and one of the leading hotels in Boston. As I walked through the public space that was substantially under renovation, I realized how many benchmarks the facility management and ownership must have been evaluating to keep the hotel competitive and successful.
Every hospitality business, restaurant, casino, inn and hotel is facing significant challenges in the next 24 months, and the ones that take the time to evaluate their positions will be the ones to prosper. Saving a small amount of money today will not be the answer to remain competitive, because the global markets are changing dramatically now.
“What are you doing at your hotel, restaurant or hospitality business?
Feel free to share an idea for a column at firstname.lastname@example.org anytime or contact me regarding consulting, customized workshops, speaking engagements … And remember – we all need a regular dose of common sense.
John Hogan is a successful hospitality executive, educator, author and consultant and is a frequent keynote speaker and seminar leader at many hospitality industry events. He is Co-Founder of a consortium (www.HospitalityEducators.com) of successful corporate and academic professionals delivering focused and affordable counsel in solving specific challenges facing hospitality today.
www.HospitalityEducators.com is a membership site offering a wide range of information, forms, best practices and ideas designed to help individual hoteliers and hospitality businesses improve their market penetration, deliver service excellence and increase their profitability. Individuals wishing to contribute materials may send them Kathleen@HospitalityEducators.com. Special pricing is in effect for a limited time that also includes a complimentary copy of LESSONS FROM THE FIELD- A COMMON SENSE APPROACH TO EFFECTIVE HOTEL SALES.
Dr. John Hogan, CHA MHS CHE
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