2019 Insights for Human Capital in Hospitality: Challenges in Finding Labor and Artificial Intelligence Among Trends in the US
January 8, 2019 2:57pm
(January 8, 2019) – AETHOS Consulting Group’s US partners have gathered their collective thought leadership and now share predictions, concerns and issues for 2019. While some of these issues transcend across borders and continents, the commentary here is geared on its impact in the United States:
1. Challenges to Finding Labor for Hospitality Services:
2. Use of Artificial Intelligence in the Hotel Hiring and Experience Offerings: Fellow New York Managing Director Dave Mansbach is also quick to discuss AI and its impact for human capital in hospitality. “AI is the buzzword for 2019. Artificial Intelligence and machine learning is still so new; we have not yet even entered into the first inning. But for the foreseeable future, the hospitality industry should continue to embrace human interaction with the customer.”
“As for ‘Blockchain,’ get familiar with this if you are at all involved in strategy decisions.” Adds Mansbach, “Blockchain technology is evolving rapidly and will change many areas of the hospitality industry including human resources, cyber-security, healthcare and the securitization of customer information.”
3. Revenue Management Skills: Mansbach also emphasizes revenue management as a key skill set for owners and operators in all facets of hospitality moving forward. “Revenue Management Strategies are critical. Hotel owners and operators should seek the top 1% of organizations that lead in revenue management strategy and philosophy. Owners truly recognize the significance of investing in human capital and technology to win.”
Andrew Hazelton, Managing Director of AETHOS’s office in Philadelphia sees a blending of sales and revenue management skills necessary for the next generation of “Chief Commercial Officer.” “Within the hotel industry the lines of sales, marketing and revenue management will continue to blur and hotel organizations will move to a model where such functions merge together under a single point of leadership -- ultimately making their businesses more efficient and effective. This is truly helpful as organizations drive toward more personalized services to meet the wants and needs of customers.”
4. Experiences and Technology: In addition to the lodging sector AETHOS observes momentum in the restaurant and food service disciplines as well as the cruise sector. Andrew Hazelton notes, “Competition at sea will continue to be tight as demand for cruising will increase much like it did this past year. But North American-based companies such as Royal Caribbean and Carnival are not only focusing each other’s customers, they are also keen to pursue those of Marriott and Hilton. With a robust pipeline of new ships to come on line these next few years, the cruise industry will continue its mantra of ‘going big’ in 2019, while striving to focus on ‘customer experience’ across all segments/types.”
Hazelton continues, “ As for the restaurant industry, specifically the quick service restaurant segment (QSR), this sector will continue to focus time, energy and money into technology, marketing and loyalty programs. Over the last few years, companies such as Starbucks have led the push for further leveraging mobile technology and developing a ‘true’ loyalty program. Others will have to continue to follow.”
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AETHOS Consulting Group is a global advisory firm serving the hospitality industry. The firm enhances value for its partner organizations via access, know-how and fresh thinking. Core competencies include executive search, compensation consulting, business strategy and psychometric assessments. The firm is designed as a single partnership operating from ten locations in North America, Europe and Asia Pacific. www.aethoscg.com.
Contact: Leora Halpern Lanz, ISHC
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