Aiden, at the invitation of Shannon College of Hotel Management, delivered a lecture for 3rd year and Masters programme students on 17 January 2023 on practical aspects of Hotel Asset Management.
The session included students in workgroups analysing revenue levels, profit attainability and impact of payroll and utility costs from pre-pandemic levels to those applying during the pandemic years and through to what is happening currently in the fully reopened marketplace. Each group worked on their hypothetical hotel example and shared their insights with the class. Data from the Crowe Annual Hotel Industry Survey was used as the basis for their business analysis. The students considered means of enhancing revenues and curtailing costs, including methods to achieve savings on utility costs and achieving sustainability goals.
There was a discussion on advantages and disadvantages of international hotel branding versus being an independent hotel, and methods that hotels use for branding in terms of management contracts and franchise or own or soft brands.
The students were particularly interested in the outlook for the sector for the next two years when they would be seeking employment. They were heartened to hear Crowe's expectation that we would see growth for the sector post-Covid-19 due to the rising tide resulting from higher levels of global international travel that would likely lift all boats and set up the next few years as an exciting time for students of hotel management to graduate and commence their career. Aiden emphasised that the hotel industry offered great prospects for ambitious individuals who are willing to work hard to develop their careers, and he encouraged each student to take a diligent approach to every job they work in and have a focus that means their contribution clearly adds to the profitability of the business and ensures that their managers will easily recognise their performance excellence, which inevitably will lead to ongoing promotions and greater remuneration.
As specialist hospitality consultants, we provide impartial expert advice on hotel, tourism and leisure projects at every stage of the lifecycle. For more information about how Crowe’s dedicated hotel, tourism and leisure team can assist you with any hotel or hospitality project, contact a member of our HTL team.