Distressed hotel on your hands? Here’s how to turn it around in six months
It might surprise many that generally the problem around distressed hotels is due to a lack of insight as to how the travel industry really works.
There is also a shortage of understanding in the business in general. As a result, hotel assets become distressed and in dire need to be turned around.
Many properties are built without sufficient planning and ran by under qualified management. They lack the capability to connect the dots between the work they are doing and the financial results of the hotel.
A perfect example would be a conversation I had a little while ago with a very experienced revenue manager at a five star resort of a renowned international hotel chain.
Read full story at: http://www.tnooz.com/article/distressed-hotel-fix