The hotel industry may be in great financial shape, but that doesn’t mean hoteliers have the luxury of overspending at the property level. Eliminating wasteful costs is always important, and one way smart managers can potentially reduce operational expenses is by utilizing an updated, cost-efficient PMS. It’s especially important in a world of fast rising [...]
Turnover rates in the hotel are just nightmarish. It’s such a massive problem that some hotels find they’re replacing more people every year than there are jobs in the hotel. It’s a crazy situation that has the entire industry perplexed. And it’s costing everyone a lot of time and money. Industry wide, the average annualized [...]
Lodging Conference Lessons Each fall, the Lodging Conference is always one of the most interesting and dynamic hotel industry events of the year. This year, many influential executives, owners and developers were in attendance and a record 1,800 people attended the Conference. Here are some of the key takeaways from the event and how you [...]
Did you know that according to the Bureau of Labor Statistics, the average employee turnover rate for the hospitality industry was 6.3% in May and 6.0% in June? If that trend were to continue, that would be an annualized percentage of 73.8%. When compared to the 3.45% turnover rate for the same time compared to all [...]
Overall U.S. worker productivity is falling. A new Wall Street Journal (WSJ) article says employers are paying their staff more and getting less in return. The WSJ article cites an August 9th U.S. Labor Department report, which found that worker productivity is down for the 12th month in a row! Read the full article here.
Employees are your most valuable asset and should be treated accordingly. Yet employee turnover is still a pervasive industry issue that’s costly and time-consuming. Did you know that according to a recent Bureau of Labor Statistics report, the turnover rate in the U.S. hospitality segment rose from 66.7% in 2014 to 72.1% in 2015? That’s an incredible challenge to overcome [...]
