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Navigating the 2022 budget negotiations will require all stakeholders' unwavering focus, understanding and collaboration.
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Delivering Legal and Risk Management Solutions to Lodging Development & Management Executives

November 2021
 
HospitalityLawyer.com's Converge Newsletter
 
2022 Budget Season Presents Host Of Challenges
Wooden blocks with the words 2022, goals, plan, budget and team of workers
November 15, 2021 via Hotel Management
This is likely the most challenging budget season yet. Navigating the 2022 budget negotiations will require all stakeholders' unwavering focus, understanding and collaboration.

Mitigating risks has an entirely different meaning for the year ahead. Everyone’s budget meetings will likely include the following hot topics of discussion:
  1. Employee and management retention (and recruiting) are at the core of any hotel operations strategy.
  2. Market share capture is king.
  3. Management of expenses in uncertain times requires unprecedented accountability.
  4. Even the most thoughtful opening of amenities and food-and-beverage outlets can become a strain for any gross operating profit margin gains.
  5. Adequate maintenance expenditures and action plans are necessary to push cycle renovations ahead.
  6. Liquidity concerns will keep us up at night until the spring.

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November 1, 2021 via HospitalityNet

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With the holiday season quickly approaching, hotels will soon be bustling with guests looking to visit family and friends. With increasing capacity levels, comfort is a high priority. Mechanical HVAC systems play a large part in creating memorable customer experiences, so it is vital for facility managers to ensure systems are ready for change.

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