Sharing Economy – A Hoteliers Comprehensive Review
(Updated: May 2016) The challenges of increased health care costs, minimum wage increase impacts and new supply are not yet critical for the hotel industry but they will become very important when an economic downturn occurs. Further, Airbnb has become…
National security vs. privacy: An EconoMeter view
from San Diego Union Tribune’s EconoMeter panel.
Q: Would business and consumers be harmed if governments can override smart phone security precautions?
Bob’s Answer: No.
However a “back door” need not be created to allow law enforcement to retrieve the information so long as the feature to destroy data after multiple failed logins is removed.
Neither the U.S. government nor Apple really wants a back door as that would undermine Silicon Valley’s position as criminals switch to foreign designed platforms. In today’s world of jihadist attacks and deadly crimes, court orders must trump perceived company image.
Read more answers here.
Recession ahead? EconoMeter weighs in
from San Diego Union Tribune’s EconoMeter panel.
Q: Is the U.S. headed for a recession this year?p?
Bob’s Answer: No.
The U.S. economy is strong enough to avoid a recession despite the global economic challenges we face. While the challenges are real, it is more likely that we face a problem in 2017.
Here’s why — we are in an election year. The lone recent exception to the theory of election year economics was 2008 and there were huge problems developing at that time. Watch for a soft landing in 2017 after a solid 2016.
Read more answers here.
How to build a competitive strategy
With an economic soft landing predicted for 2017 many hospitality businesses will need to have a foundation built on sound strategy for continued success.
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Developing a business strategy is admirable, but executing it is the key.
Based on this, I thought I would try to simplify the essence of strategy for today’s hospitality leaders. One simple strategy is to differentiate our operations via intangible assets.
As an example, customer relationship management or new and innovative products and services can provide differentiation from our competitors.
One strategy that has been employed frequently is the “balanced scorecard.” Simply put, this system allows a company to measure budgets and financial measurement devices as well as non-tangible assets such as customer relationships and brand awareness.
According to the book “The Strategy-Focused Organization” by Robert S. Kaplan and David P. Norton, “an exclusive reliance on financial measures in a management system causes businesses to do the wrong things.”
Break up California’s PUC?
EconoMeter panel looks at oversights and scandals and weighs in
from San Diego Union Tribune’s EconoMeter panel.
Q: Should the California Public Utilities Commission be broken up?
Bob’s Answer: No.
The CPUC is tasked with a very important mission to regulate power and consumption. That mission could be diluted and detrimental to residents and businesses through a breakup and distribution of authority among various state agencies.
A wholesale reform of the CPUC, the appointment of commissioners and the full disclosure of communications are part of vital reforms needed for the CPUC to succeed in its mission.
Read more answers here.
Millennials, OTAs, Digital Marketing, CapEx and How to Capitalize on Them
Originally posted on HotelBusiness.com
SAN DIEGO—Bob Rauch, president of RAR Hospitality, based here, is committed to putting the customer first; so much so, he’ll rise early in the morning for a 15-mile run with travelers staying at one of his hotels. “If I’m in a city where my staff knows I’m at the hotel, I will offer to run with a guest at the break of dawn.
If it means I have to run with triathletes or barely a 12-minute mile, I’ll push myself and spend that time with a guest,” said Rauch.
For Rauch, it’s this type of personal engagement—he calls it “wow customer service”—along with other hospitality insights he teaches to staff members at his properties nationwide and students taking his online courses on entrepreneurship at Arizona State University—and writes about on his website, HotelGuru.com. “Any knowledge I have, I want to engage with people. It’s vital that I pass these lessons on to my team because I can’t be at hotels every day.
I want them to use me as a role model in how to treat guests and how important they are,” he explained.
‘Negative interest’ rates? EconoMeter panel weighs in
from San Diego Union Tribune’s EconoMeter panel.
Q: Will the Federal Reserve begin charging “negative interest,” as Japan is doing, to stave off a recession and deflation?
Bob’s Answer: No.
Japan has been fighting deflation since the 1990s, while the U.
S. has been trying to boost an economy that has been moving along at a moderate pace. Japan is trying desperately to get to 2 percent inflation while the U.
S. is growing at approximately 2 to 2.5 percent. The European Central Bank tried this in June 2014 with no success and the U.
S. will not follow suit.
Read more answers here.
The History, Recent Emergence and Future of Live Video Streaming
Marketing’s Hottest Disruptor
Originally posted on HotelExecutive.com
Live video streaming is not necessarily a new technology, but it has recently experienced quite the rise in popularity. A generation filled with “cord-cutters” has turned Internet video into the new cable TV. As hoteliers, we know that marketing is no longer a straight path, but rather a box of tools for us to utilize given our property’s needs.
Live video streaming is marketing’s shiny new tool that is loved by the millennial market and what might be better termed the “millennial mindset” market.
Clearly, other generations love technology just as much and not all millennials love it, so the hype is not necessarily geared solely to the 20-35 year old market. So let’s take a look at how live video streaming began, what caused its recent emergence and what the future holds for this rapidly developing technology.
Keys to Success: Employee Satisfaction
2016 is going to be an amazing year for the hotel industry as we previously forecasted. We have also covered the Top 10 Trends of the year to help us stay ahead of the game. But one of the additional keys to success in the coming year is employee satisfaction….
Hoteliers should take full advantage of 2016
– Read more at: http://www.hotelnewsnow.com/Article/17539/Hoteliers-should-take-full-advantage-of-2016