Comments for Richfield Hospitality Blog

Comment on Flatten the Pyramid – Company Leadership in a New Light by Stephen Beaumont

Stephen Beaumont — Mon, 27 Jun 2011 16:45:17 +0000

What a refreshing philosophy! I could not agree more that having an open approach to leadership that encourages openness and informality leads to innovation and calculated risk taking.

As leaders we are there to help everyone move from fear to courage, frustration to excitement and away from judgement towards curiosity. These are cornerstones of my own thinking and leadership style. If only we saw this philosophy on a corporate level in our industry more often. Bravo!

Comment on Are you reporting trade-outs correctly on your financial reports? by Robert Sheidler

Robert Sheidler — Wed, 09 Mar 2011 02:16:00 +0000

You are correct, and this is a point that many people in the industry do not fully understand.

I would say that they often ARE a good deal for the hotel though — at least if you are filling rooms that are not otherwise being occupied. For one thing, your actual variable costs for filling an additional room are fairly low — basically the cost of laundry and houskeeping, plus a very small incremental cost for heat and lights. Plus, you quite possibly have the opportunity to sell additional services such as F&B, Spa, retail etc.

So, if you can limit the times when they can be used to your off-peak season or off-peak days, it really can be a win-win.

Comment on Why a minute in a hotel is so important – as it relates to profits by Drew

Drew — Fri, 04 Mar 2011 14:53:23 +0000

Bob,
I couldn’t agree with you more. You are ’spot-on!’ To be a good Manager, you must focus on “controlling your controlables” and not focus on items you have no control on whatsoever. Labor efficiencies are perhaps one of the greatest areas with-in your control that will lead to a more profitable bottom-line.

Comment on Why a minute in a hotel is so important – as it relates to profits by Md Anisur rahman

Md Anisur rahman — Tue, 01 Mar 2011 21:17:10 +0000

Yes! it is an very good line of thinking,but to bring change from this types of traditional mindset of managers, we need to develop more leader in the hospitality industry.

Lt Cdr Md Anisur Rahman(Retd), MBA

Comment on Are you reporting trade-outs correctly on your financial reports? by Kermit Rose

Kermit Rose — Sun, 13 Feb 2011 21:26:07 +0000

Youy said:
The value of what you give up in a trade-out (probably room nights) must be reported as revenue and the benefit of the goods or services received in return must be reported as an expense on the financial statements (generally Sales & Marketing advertising or promotion expense)

My Comment:

This is opposite to what I expected.
Intuitively, I see what I give up as expense, and what I receive in turn as revenue.

Kermit
kermit@polaris.net