It’s no secret the hospitality industry in America is in dire need of skilled employees. Many hotel owners and operators continually seek ways to attract and keep talent.
The Bureau of Labor Statistics says the hospitality industry has a turnover rate of nearly 75 percent per year, compared to a healthy rate of 10 to 15 percent.
Turnover costs money, not only in lost productivity, but also in the company’s investment in each worker … and the cost to train a replacement.
The greater the job responsibility, the higher the cost of replacement – from about $3,000 for an entry-level employee to $8,000 for a manager, reports Daily Pay.
In a search for ways to train and retain hospitality leaders, companies have turned to the American Hotel and Lodging Association.
Last year, a group of hotel management businesses and the association’s educational foundation teamed up to create a lodging manager apprenticeship program.
Several hundred apprentices signed on to learn the different aspects of running a hotel through hands-on training, online courses and one-to-one mentorship.
In this episode, we hear from Rosanna Maietta, president of the American Hotel Lodging Educational Foundation, and apprentice Daniel Ovichegan, who came to the U.S. from Mumbai, India, to pursue his dream career in hospitality.
Hotel owners and operators who believed they could go it alone before the coronavirus pandemic devastated the hotel industry are having another think and turning to third-party managers to work their way back to profitability in the post-pandemic recovery. Another trend contributing to the growth in third-party managers’ business is more commercial real estate investors armed with cash entering the hotel sector and in need of an experienced operations team. Episode 321 of Lodging Leaders podcast explores the growth of third-party management companies over the past 12 months. This report is part of Lodging Leaders’ coverage of the coronavirus crisis and its impact on the hospitality industry.
The Ever Given container ship running aground on March 23 in the Suez Canal got worldwide attention, but it is just one of many reasons for the breaks in the global supply chain that are impacting the U.S. hotel industry’s post-pandemic revival plans. Shipping companies in Asia and Europe are contending with a boatload of challenges, including a lack of containers, traffic jams at West Coast ports and increased costs. Long Live Lodging explores what the problems mean to hotel owners and developers eager to refresh their properties and welcome guests back.