Business owners are doing their best to focus on the priorities to ensure that their businesses stay afloat. One of the challenges is trying to stay ahead of the curve when it comes to their competition. That is why each business owner needs to consider performing a thorough business competitive analysis.

This guide will discuss how you can look for your competitor’s strengths and weaknesses so you can be able to identify possible opportunities for better business. At the same time, you will have the data to refine your strategy so you continue operations and even create opportunities to grow.

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The hospitality industry is one of the most profitable in the world. It also happens to be one of the most competitive. There are situations when a financial crisis can occur for your hotel – to the point where the likelihood of hotel survival is questioned constantly.

At that point, it’s sink or swim. It is possible to “swim” and this guide will show you how to get it done. You’ll learn plenty of tips on what you need to do for your hotel to survive in the event of a financial crisis.

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The hospitality industry is one that faces a high volume of demand – year in and year out. In reality, the companies that succeed are those that often stay ahead of the curve. Especially when it comes to the components of customer service, what they offer to their recurring customers, and what they can bring to the table for new ones.

Not only that, it’s important to keep an eye on the hospitality trends that are ever changing. The sooner you catch on, the better your chances of sustaining success.

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The business landscape is highly competitive. For this reason, it is important to provide exceptional customer service while staying ahead of the hospitality trends. If you are a hotel, restaurant, resort, or any other business in the hospitality industry – there’s always opportunities for improvement when and where necessary.

That’s when hospitality consulting can play a role. You can hire a professional that understands the industry inside and out.

And they can provide you with ideas and advice that can help improve your business.

If you are ready to find out more about how your business can improve with the right person in your corner, keep reading.

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There are many things that every business wants to do.

For instance, every single company in the world wants to turn some sort of profit. If that isn’t possible, a business isn’t really a business but just a hobby. Not only do they want to make money, they want to deliver something – a product or a service – better than the competition.

And, finally, companies want to please their customer base. It doesn’t matter what service they are providing or what good they sell, but all businesses want to make sure that they people who use them and rely on them are happy with what they are creating.

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Hotel Reflagging is when a hotel changes its brand. So a hotel that has always been a ‘Holiday Inn’ might reflag one day and become a ‘Hilton.’  Or the local Hilton might become its own independent hotel chain. 

To understand why hotels do this and the costs involved from these reflagging and de-flagging attempts, we must understand how hotels and their hotel chains work.

Before we get started, it’s important to understand that most hotels do have a flag outside of their buildings. In most cases, they fly the flag off their brand, but some hotels have national flags that signify that everyone is welcome in their building. 

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The hospitality business is a type of business in the service industry that focuses on keeping people happy. Some of these businesses include hotels, restaurants, bars, and service agencies. However, most people argue that every single business is a hospitality business, and we agree.

However, before we defend this claim, it’s important to look at what a hospitality business is and why every single business is one.

What are Hospitality Companies?

The hospitality industry focuses on the friendly reception and entertainment of guests, as well as their housing.

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The COVID pandemic that started in early 2020 has at least temporarily changed more than a few ways people function. The hospitality trend quickly adapted to new customer wants and has offered customers some new amenities that adapt with the workplace, social distancing, and changing desires for going out. We will review many of these changes with you so you know the current hospitality trends in 2021 are being put forth by hospitality management and hospitality companies.

1. Hygiene Protocols

People thought about the state and cleanliness of less their rooms, lobbies, and public areas before COVID, but the virus has put additional stress on the need for cleanliness and communication.

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The hospitality industry is booming so there is an increasing need for skilled hospitality employees. The customer is always the central focus for the hospitality employee so they really need to be passionate about giving the ultimate customer experience.

Finding the perfect employees can be challenging for your restaurant, hotel or resort, but there are certain qualities you should always look for. Here are the top 8 qualities to look for in a hospitality employee:

1. Total Commitment

Hospitality work can feel like a thankless job, with the long hours, hard work, and dealing with difficult customers, so you want staff who are truly committed and passionate about providing the best customer experience possible.

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Franchising your business with MBB is a proven route to rapid growth. But becoming a franchisor is not an automatic ticket to success, especially in this challenging economy. Still, many business owners dream of seeing their brand become a household name, with a network of franchisees from coast to coast or around the globe. When the right concept is franchised effectively, it can be a great expansion strategy that doesn’t require as much up-front capital as growing through company-owned units.

If you’re considering franchising your business, know that the process of becoming a franchisor is usually long and involves considerable cost.

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