The Castell Project Releases 2019 Women in Hospitality Leadership Report
February 7, 2019 2:19pm
ATLANTA, February 7, 2019—Officials of Castell Project, Inc., a 501(c)3 nonprofit organization dedicated to accelerating the careers of women professionals in the hospitality industry, today released the 2019 Women in Hospitality Industry Leadership report. Following the inaugural 2018 study, the report tracks gender parity data at various upper levels throughout the hospitality industry.
“While the discourse is improving since the previous Women in Hospitality Industry Leadership report, we have quite a way to go to achieve equitable opportunity for women in upper leadership,” said Peggy Berg, president, Castell Project, Inc. “For example, women are about half of director-level employees in hotel companies, but females make up only one in 22 CEOs and one in nine presidents. There clearly is a disconnect where highly competitive women are not being considered for promotion.”
Data driven companies and broad international studies show that companies with gender diverse leadership drive higher profits. A move from no female leaders to 30 percent representation is associated with a 15 percent increase in the net revenue margin, according to a study of 22,000 firms.
Additional key take-aways include:
“The first step we can take as an industry is to recognize that the issue exists,” Berg added. “Although many hospitality industry executives believe that their companies have solved the challenges of gender diversity, Castell Project statistics indicate that most have not. Something in the water does not compute where more than 90 percent of companies say they prioritize gender and racial diversity because it leads to better business results, but only 42 percent of employees think this is the case for gender diversity, according to a recent report by McKinsey. We challenge corporate leadership to build gender-diversity in their companies – it’s critical to a competitive bottom line.”
To download a copy of the report, please visit www.CastellProject.org.
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2019 women in hospitality industry leadership report
Castell Project, Inc. is a 501(c)3 nonprofit dedicated to the advancement of women to the highest levels within the hospitality industry. With support from industry partners, Castell delivers impactful leadership development for talented, high potential women, including a workshop with professional trainers specialized in developing women executives, ongoing training and networking opportunities and performance metrics tracked by Georgia State University, an academic partner to Castell Project. Castell Project also delivers innovative research on diversity in the hospitality industry.
Contact: Chris Daly
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