With Twenty Four Seven Hotels in the midst of an aggressive expansion strategy for its portfolio of managed assets, the company earlier this year identified the need to strengthen its operational focus to help support what it describes as a transformation.
As such, this past fall the Newport Beach, CA-based company tapped 25-year hospitality veteran Janet Fioriti as its vp, operations. Fioriti has been tasked with providing high impact strategic direction and leadership for the entire portfolio, overseeing all aspects of hotel operations and guest services.
Fioriti—who reports to David Wani, CEO of Twenty Four Seven Hotels—talked about why she made the move from ABA Development, where she had served as vp, asset management.
“It’s a growing company that’s providing great service to owners, employees and guests and the team that they’ve assembled in their growth is a really impressive list of people. This is a company that’s trying to go from great to extraordinary and I really want to help them make that happen,” she said.
Fioriti neatly summed up her objectives in the new position.
“My mission is really a triple bottom line, which is profit, people and the planet. We want to just knock out of the park on all of those metrics,” she concluded.
Fioriti started her career at Marriott International and her executive experience includes stints with firms such as Huntington Hotel Group, Excel Hotel Group and Sage Hospitality. She touted her vast experience and how she plans to leverage that.
“Given my background in the industry I have the opportunity to really help lead the company to raising the bar in all areas. Looking back at my career, I’ve sat really on every side of the table. I’ve represented the brands; I’ve been with owner/operators, third-party management companies and I’ve asset managed for developers. I’ve been in operations, sales, revenue management and held leadership positions so I’m able to bring all that to this organization,” stated Fioriti.
The company—which specializes in hotel management, investment and development for premium brand select-service and lifestyle hotel segments in the Western U.S.—currently has some 22 hotels under management and six additional contracted hotels under construction.
Fioriti added that the company is looking at expansion opportunities “all up and down the Pacific Coast,” with a focus on gateway cities. She further described the company’s “sweet spot” as being in relatively close proximity to its corporate office, also citing locations in the desert like Arizona and Nevada.
Playing off the company’s name, Fioriti joked that she’s implemented a tagline “Excellence 24/7” to describe the type of culture she wants to create within the company.
“When anyone walks into a Twenty Four Seven hotel I want them to feel something different than when they walk into any other hotel. That with our standards of guest service and hospitality you’re actually experiencing something unique and that would be across the board at any Twenty Four Seven hotel you walk into. The same thing with cleanliness and upkeep; the hotels need to sparkle. So whether it’s a guest or an owner of a hotel, or somebody off the street, when you walk into a 24/7 hotel you notice something very different. Our standards of excellence will be the gold standard of the industry,” she asserted.
A key part of the company’s unique culture is its pension for incorporating music throughout its hotels as well as in the corporate office. For example, Fioriti noted Twenty Four Seven has what it has dubbed as its “rock stars of the month” and team members are often referred to as “band mates.”
She further commented, “Our theme is around rock and roll; we’re very inspired by music. Music is something that resonates with people. All people are inspired it seems by music in some way or another. So we try to keep that sense of rhythm and fun in everything that we do.”
Fioriti noted that within the last month she has been meeting with ownership groups, as well as general managers and regional managers, to review in depth the performance of all of its properties and to “look at opportunities to improve the bottom line.”
Of course, any talk about the bottom line would naturally include a discussion about rate strategy. Fioriti described the operator as being “RevPAR” driven, but noted flexibility is critical in any approach.
“Whatever market we’re in we really are trying to optimize the best mix of rate and occupancy based on the circumstances. There’s no cookie-cutter approach that we take to any hotel…I think we see most of our opportunities in 2018 moreso on the rate side of the equation than on the occupancy side, but again we take it market by market in each situation. We have an extremely strong revenue management team that are continually analyzing situations themselves, as well as using the resources given to us by the brands to make the best decisions to maximize revenue,” she said.
Finally, Fioriti shared her experience with Twenty Four Seven Hotels thus far and her excitement for the future. “There are a lot of very inspired people here on our executive team that are just putting everything they’ve got against raising the bar and providing the best management possible for our hotels…I’ve really been so impressed with the passion, hard work and consciousness of this team and what they’ve accomplished to date is really phenomenal. With the growth that the company has had and the vision for the future, I’m all in,” she concluded.