Symbiosis in Hospitality Management : The Five Keys.

Format:

Book

Author/Creator:

Alatsas, Peter.

Language:

English

Subjects (All):

Hospitality industry--Management.

Physical Description:

1 online resource (122 pages)

Edition:

1st ed.

Other Title:

Symbiosis in Hospitality Management

Place of Publication:

Chicago : Austin Macauley Publishers, 2022.

Summary:

Symbiosis in nature is the interaction between two distinct species looking to forge closer long-term relationships. There are three types of interactions; "Mutualism" (honey bees and flowers for example, where both species benefit), "Commensalism" (A bird's nest on a tree for example, where one species benefits whilst the other is not harmed) and "Parasitism" (humans and mosquitoes for example, where one species benefits and the other is harmed). Symbiotic, human to human interactions seek to form closer long-term relationships based on "Mutualism", the type of interaction where there is mutual benefit. In the business context, symbiosis happens when key stakeholders collaborate as true partners (not adversaries) for mutual benefit. Assets exist to provide value to the organization and its stakeholders. The hotel asset owner through his representative interacts with the hotel brand operator to create value; find improvements, find opportunities. This book primarily looks at hospitality management, key relationships and the complex operational dynamics between two key stakeholders; hotel asset owners and their branded hotel operators focusing on five key principles and a symbiotic leadership approach as a key enabler. There is a lot of room for improvement and it is this crucial relationship that is examined. This guidebook has been written for hotel brand operators, hotel asset owners and their representatives who are managing, overseeing or monitoring a business venture for themselves or on behalf of others. It is also a valuable guide for students of hospitality as well as the curious layman - anyone who has stayed in a hotel.

Contents:

Intro

Title Page

About the Author

Dedication

Copyright Information ©

Praise for the Book

Foreword

Introduction

Understanding Common Terms Used in This Book

A Word on Gender

Purpose and Perspectives of This Book

The Present and the future of the Hospitality Industry

The Five Keys

The First Key: Symbiotic Leadership Builds Relationships and Teamwork

Symbiotic Leadership revolves around managing key relationships based on trust, honesty, integrity, engagement, and results.

Narrowing the Gaps of Misunderstanding

Role of an Owner's Representative

A Typical Hotel Asset Management Team

The Second Key: Relationships and Corporate Culture Set the Tone

Values and Culture

Putting Your Own People First

Motivation and Teamwork

Role of Mentoring and Coaching

National and Corporate Cultures

Culture and Change

The Third Key: Performance and Continual Improvement Go Hand-in-hand

Financials and Guiding Principles

Check Lists

Cash Flow

Accounts Receivables

Power and Influence

Attrition: Staff Turnover

Data and Information

E-Commerce Revenue Management

Key Aims of E-Commerce Revenue Management

Key Factors to Consider:

Key Components of Revenue Management:

Six Sigma

Hiring the Right People

The Fourth Key: Proven Business Techniques Win the Battles and the War

Data/Information and Facts

Decision-Making

Service Performance, Customer Experience, and Profitability

Creativity and Innovation

Social Networks and Decision-Making

Problem Solving and Creativity

Management by Mantras

Time Management and Priority Setting

Meetings

Multi-Tasking

Management by Check List

Management Models

Planning and Strategy

Planning and Budgeting:

The Management by Objectives (M.B.O.) Method

Budgeting and Forecasting.

Organization and Structure

Synergies and Teamwork

Freedom with Boundaries

The Fifth Key: Marketing and Branding Drive Communications

Everything We Do Communicates or Sends Some Message

Strategy and Positioning

Values and Purpose

Selling - Features and Benefits

Culture and Marketing

Success Factors

Luxury and Branding

Branding Strategies

Branding and Communications

Parting Words: In a Nutshell - Tips for the New G.M.

Coping With Relocations and Cultural Changes - Is This the Price of Success?

Bibliography.

Notes:

Description based on publisher supplied metadata and other sources.

ISBN:

9789948834595

9948834593

OCLC:

1294145039