Stories

BITAC Owners Spring Panel – Navigating Supply Chain Disruptions

By Gavin Fraser | June 11, 2024

The BITAC Owners event took place at the Caribe Hilton in San Juan, Puerto Rico. During this illustrious event, a panel discussion took place exploring the significant disruptions and complexities faced by the hospitality sector in managing supply chains. This brilliant panel line-up included executives and industry thought leaders: Heather Strauss, Director of Hotel Asset Management at Prime Group US, Zev Mandelbaum, CEO at Altree Developments, Ed Denton, Chief Development Officer, Commonwealth Commercial Partners, Charles Oswald, President and CEO at Aperture Hotels. This panel was moderated by myself, Editor of Hotel interactive Inc.

These expert panelists shared insights on effective strategies and best practices employed by leading hospitality companies to mitigate supply chain disruptions, maintain operational continuity, and enhance guest experiences. Topics of discussion included diversifying supplier networks, leveraging technology for inventory management, optimizing procurement processes, and fostering resilience in the face of unforeseen disruptions.

Supply Chain Disruptions

Zev Mandelbaum shared his insight on how supply chain disruptions have posed significant challenges for our industry. Altree have diversified their supplier base to reduce dependency on single sources. Additionally, they have leveraged technology to optimize inventory management and facilitate real-time communication with suppliers. By maintaining close relationships with our partners and proactively identifying alternative sourcing options, we’ve been able to minimize disruptions and ensure continuity in our operations.

Evolution of the Condo Hotel Model

Given Zev’s expertise in real estate development, I asked him how the evolution of the condo hotel model has impacted Altree’s approach to development projects, especially in terms of supply chain and labor considerations.

He mentioned with the increasing convergence of residential and hospitality offerings, they had to adapt their supply chain and labor strategies to meet the unique requirements of this hybrid model. For instance, they have integrated flexible procurement processes to accommodate the varied needs of both homeowners and hotel guests, while also implementing innovative staffing models that optimize resource allocation across residential and hospitality components. By embracing this integrated approach, they were able to deliver exceptional value and experiences to their customers while ensuring operational efficiency and resilience.

Labor Management Techniques

Ed, as the Chief Development Officer, shared his insights into the labor management challenges facing the industry. I asked him what innovative strategies have emerged to address staffing shortages and retain talent in the hospitality sector?

He touched on how labor management has been a critical aspect for Commonwealth operations. To address staffing shortages, they’ve implemented innovative recruitment strategies, such as targeted outreach to local communities and partnerships with educational institutions to develop talent pipelines. Furthermore, they have focused on enhancing employee engagement and satisfaction through competitive compensation packages, professional development opportunities, and a supportive work culture. By prioritizing the well-being and growth of their team members, they been able to attract and retain top talent despite the challenging labor market.

Future of Labor Management

Pivoting to the future of labor management, I asked Charles Oswald how he envisions the role of automation and AI shaping the hospitality sector.

He mentioned how automation and AI can aide in labor management in the hospitality sector. From robotic process automation to AI-powered chatbots and predictive analytics, these technologies offer opportunities to streamline operations, enhance efficiency, and deliver more personalized guest experiences. He also touched on how automation may replace certain repetitive tasks, but also presents new avenues for up-skilling employees and reallocating resources to value-added activities that require human touch. 

Service-Oriented Villa Rentals

I asked Heather Strauss how she anticipates the demand for service-oriented villa rentals influencing her development strategies in the future. 

She covered how the growing demand for service-oriented villa rentals presents exciting opportunities for our development strategies. Recognizing the importance of catering to the preferences of modern travelers who seek unique and immersive experiences coupled with personalized service. In response to this trend, Prime Group have been exploring innovative concepts that blend the privacy and exclusivity of villa accommodations with the amenities and services typically associated with luxury resorts. By leveraging their expertise in hotel management and brand positioning, they aim to create distinctive villa rental offerings that redefine the hospitality landscape and exceed guest expectations.

Balancing Residential and Hospitality Components

Charles also touched on how the need to balance expectations of residential and hospitality components requires a thoughtful and integrated approach to design, management, and service delivery. At Aperture Hotels, they have been prioritizing a deep understanding of their target demographics and market dynamics to tailor their offerings accordingly. This involves meticulous planning and execution to create seamless transitions between residential and hospitality spaces, while also ensuring that amenities and services cater to the diverse preferences of residents and guests alike.

After 30 minutes, the panel discussion came to a close. 

Many thanks to these esteemed panelists for sharing their valuable insights and perspectives on the challenges and strategies shaping the hospitality industry.

Credit

Gavin Fraser
Editor

Gavin Fraser is an Editor at Hotel Interactive, a leading provider of online resources and information for the hospitality industry serving as a hub for industry news, trends, and insights. Gavin covers the hospitality sector for hotelinteractive.com, distributes its e-newsletter, and moderates panel discussions for the company’s BITAC events.

Related Articles

Leave a Reply

Check Also
Close
Back to top button