Ask Anthony: How Long Will the Good Times Last?

Anthony Melchiorri, hotel fixer and host of Travel Channel’s Hotel Impossible, loves dishing out advice. From sharing best practices to tackling operational issues, he’s here to answer your questions.

With the hotel economy at an all time high, how long will it last? There are people around the world who work at well-known firms and get paid to answer that very question. I’m sure you read the same forecasts I do and, regardless of what experts say, there are smart things hoteliers can do to extend the good times and soften the blow of another downturn.

First, work like you’re going out of business. That doesn’t mean being reckless, slashing amenities, or implementing draconian cuts, but rather keeping the pressure on.

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Second, be sure to adequately save a portion of your cash flow for the capital needs of the hotel. In hand with that, always clean the hotel as thoroughly as possible every day. It benefits the lifespan of the FF&E, it’s good for the guest, and it builds value for your rates.

Third, pay your staff well and treat them like key components to your success, because they are.

Finally, be sure to study now, tomorrow, and next week, and keep an eye on what’s relevant and impacting the business going forward.

Simply put, run your business the way you first envisioned it before politics and the chaos of the world descended upon it. Your concentration on the nuts and bolts of the business will pay off.

Got a question? Send it to AskAnthony@lodgingmagazine.com

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