Ian Schrager wants to be more like Apple, less like Marriott

Together with

Good morning - Today, we’re looking at:

• Feature: The Power of Mentorship

• Design: Ian Schrager Aspires to Be More Like Apple Instead of Marriott

• From our community: A Contribution by James Ferguson

FEATURE

The Power of Mentorship

with Steve Turk on the Hospitality Daily Podcast

Hospitality is an apprenticeship business, and today, we’re learning from none other than the person known across the hospitality industry as The Hospitality Mentor, Steve Turk.

The importance of mentorship: "This is an apprenticeship business."

Accelerating opportunity: "Hospitality is maybe the only industry where you can start from the bottom, and if you have a great mentor or someone who really advocates for you, shoot to the top fairly quickly."

From cook to executive: "Chef Jorge Ramos...started as a cook at the hotel, and now he's running one of the largest divisions for Hilton."

Ask for mentorship: "Ask, 'Hey, can I have a coffee with you? Can I just sit down at lunch with you?'"

Do the work: "By raising my hand for projects...I got some quality time with some influential people."

Don't overlook peers: "Forming those bonds with people that you're coming up with is important."

Open up to mentoring others: "Leaders need to make themselves available and open to having some mentoring relationships or conversations."

Be aware of how you show up: "You have to be self-aware and focus on lightening the mood a bit."

The best leaders: "Some of the best hotel owners I've worked with...want to make you feel at home and spend some time with you."

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TOGETHER WITH MDO

The Hotel Profit Playbook: Data-driven Strategies to Move Beyond Rooms Revenue

Hotel owners and operators have shifted from top-line data collection and analysis to making more decisions around driving bottom-line margins. Understanding labor and amenity costs, analyzing non-room revenue trends, and centralizing data from all revenue sources is arming hospitality leadership with the right data to make more profitable decisions.

In MDO’s latest report, hoteliers will learn:

• How to look beyond rooms and implement a more holistic revenue analysis

• How to apply revenue management principles to ancillary outlets like F&B and spa

• How to better understand and measure profit margins at each outlet across your property

• How to centralize the data that empowers hoteliers to make more profitable decisions.

Read now

DESIGN

Ian Schrager Aspires to Be More Like Apple Instead of Marriott

by Nikki Ekstein for Bloomberg

The hotelier, famous for co-founding Studio 54 and collaborating with Marriott for 15 years to develop Edition Hotels, is preparing to complete his remaining seven Edition projects before shifting his focus towards transforming his Public hotel into the next great hotel brand. “I think we’ve changed, and luxury has a new and different meaning today. Luxury right now is having freedom—freedom from hassles to make everything easy, freedom of time, freedom to devote your personal time to the things that matter to you.”

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FROM OUR COMMUNITY

a contribution by James Ferguson, Director of Culture at Wurzak Hotel Group