I have a learning experience with hotels and hotel owners in general while I was working as hotel manager.I have also a lot of friends in this industry.Here are the few things that I felt like sharing with those owners from a manager's point of view:*GM position very very very important*Hire the right guy, he/she can build or ruin your investment*Let him do his job like you would an electrician or a plumber hired to do a job in your house*Set vision, goals and budget and review it periodically with them so they can carry that to their staff members*Don’t just expect fruits as soon as you sow the seeds, don’t forget that you have to “create” the environment so the tree can bear fruits (including regular watering, throwing fertilizers, making sure weed is nipped in its infancy, trimming, fencing etc)*Keep your family members away from day to day operations. Its good to have more heads to supervise and keep an eye on your investment, but it will only act adversely if they are not properly trained and “made aware” of business practices of today’s hotel industry compared to ma & pa operations run years ago*You are the owner of million dollar property does not mean you deserve hundreds of thousands of dollars of profit.You have to make yourself worthy of that by assembling the right team of people who run your hotel.You might have all the desire to earn millions because you invested millions,your staff members(including your GMs) did not.So why would they care to make millions FOR YOU ?? Lets talk about this in more detail in invest not only in property but also in people section*Don’t underestimate the power of front desk employee,housekeeping or maintenance employee. They play a very crucial role in running day to day operations for your property.Front desk guys and housekeeping need to be motivated to keep their best effort in the right direction.If you visit the property(even occasionally),make sure you introduce yourself to the staff members(atleast the ones you pass by and have a chance to interact).Find ways to connect with them and keep them motivated and encouraged. Shower love on them just like you would on your kids or pets but don’t treat them like one. (one of the biggest mistakes millionaires can make) *Treat your employees with respect and dignity and they will return the favor by taking ownership of your assets and driving your profit numbers higher. You do the opposite and even the best employee will wonder why he should care for your property.More to come on this topic folks:do write me any suggestions:
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