Traditional metrics of brand equity, such as the size and opulence of a hotel property or adherence to rigorous design standards, are no longer sufficient markers of success in the hospitality industry.
Big groups have historically invested heavily in these physical aspects, often under the assumption that they are the primary contributors to a brand’s value. However, a paradigm shift is necessary to remain competitive and relevant in today’s market.
The true essence of brand equity in hospitality lies not in its tangible assets but in the intangible and invaluable asset of human talent. This shift in focus towards people – the ones who embody and deliver the brand promise – is critical.
For brands to resonate with guests and stand out in a crowded marketplace, they must prioritise sourcing, developing, and nurturing the right skills and leadership qualities.
Primary revenue drivers
The primary revenue drivers in any hotel – rooms and food and beverage services – depend…