The Value of Hospitality Industry Trade Events 

With rising consumer expectations, advancements in technology, and the push for sustainability, staying ahead of the curve is crucial for anyone involved in the hospitality industry. One of the most effective ways to do this is by attending trade events and conferences.  

These industry gatherings provide professionals with an unparalleled platform to network, build their profile, expand their knowledge, and stay updated on the latest trends. From luxury hotels to independent restaurants, the insights gained at these events can shape the trajectory of businesses and professionals alike. 

With the Annual Hospitality Conference in Manchester having taken place earlier this week, many attendees and onlookers may be looking at the next opportunity attend such an event, whether it might be a little closer to home or a little more focussed on your specific area of interest.  

The next few months will see a plethora of Hospitality and Tourism conferences and events taking place across Europe and the Middle East, from UKHospitality’s Environmental Sustainability Seminar to the prestigious International Luxury Travel Market (ILTM) in Cannes. Each event brings unique value to attendees, helping them thrive in an increasingly competitive environment, and it is not too late to sign up and get those tickets booked. 

Why Trade Events Matter in the Hospitality Industry 

 Networking Opportunities
Trade events are invaluable for networking, enabling professionals to connect with peers, potential partners, and industry leaders. These interactions can lead to collaborations, partnerships, and business deals that can propel a company forward. For example, the World Travel Market (WTM) in London, taking place annually in November, is one of the most influential gatherings in the global travel and tourism industry.  

With representatives from travel companies, tourism boards, and hospitality providers worldwide, the WTM offers opportunities to forge lasting relationships and discuss future trends, making it an essential event for anyone looking to make their mark on the industry. 

For resort operators and residential leisure investors, the Resort & Residential Hospitality Forum (R&R) in Athens in November will provide a specialised platform to engage with stakeholders and experts in the resort and residential space. Establishing contacts in such niche markets can help businesses uncover investment opportunities or gain insights into emerging trends that can impact their future strategies. 

Building Knowledge and Gaining Insights
Attending trade shows is a prime opportunity to learn from industry experts and thought leaders. Events such as the Tourism Innovation Summit in Seville in October are designed to showcase how cutting-edge technology can revolutionise the travel experience. From sessions on smart destination management to talks about artificial intelligence in tourism, this event offers attendees the chance to stay ahead in an industry that is increasingly reliant on digital transformation.

At the Environmental Sustainability Seminar in the UK, climate change is becoming an ever-pressing issue for hoteliers and restaurateurs alike, who must adapt to greener practices. This seminar is a key opportunity to explore best practices and innovations designed to make the hospitality industry more sustainable. These insights can help businesses not only reduce their environmental impact but also appeal to eco-conscious consumers, a demographic that continues to grow in importance. 

Competitor Knowledge
Understanding what competitors are doing is crucial for maintaining a competitive edge. Trade events provide the perfect stage to observe and assess the latest products, services, and innovations that your competitors are offering. At the Hotel & Resort Innovation Expo at Excel London in October, hoteliers will get a first-hand look at cutting-edge technology designed to enhance customer experience. Whether it’s AI-driven guest services or the latest room automation technology, knowing what’s on the horizon can help businesses stay one step ahead. 

Similarly, at the The Restaurant Show, now part of the Food & Drink Expo taking place in April 2025 in Birmingham, restaurateurs will gain insights into the latest culinary trends, tech solutions, and operational strategies from leading industry experts. Understanding these trends early can empower businesses to implement changes that set them apart from competitors, giving them a significant advantage in the market. 

Industry Innovation
Innovation is the lifeblood of any industry, and trade events serve as a catalyst for new ideas and breakthrough technologies. The Independent Hotel Show, which takes place at Olympia London in October, focuses on boutique hoteliers and luxury establishments, offering a curated selection of the latest innovative products and services designed to elevate customer experience. For hoteliers seeking to distinguish themselves in a crowded market, this event is the perfect place to discover game-changing solutions. 

Another key event fostering innovation is the Italian Hospitality Investment Conference (Rome, October 2024), where the focus is on investment opportunities and trends in the hotel and real estate sectors. With a particular emphasis on innovation in hospitality investments, this is the first international conference exclusively dedicated to investments targeting hospitality in Italy. This is vital for anyone looking to stay informed on how new business models and investment strategies might apply to a region that promises significant opportunities.

Profile Building
For professionals looking to advance their careers, attending these events can be instrumental in building their personal profile. Speaking at panels, engaging in discussions, or even just attending sessions can raise your visibility within the industry.  

HOSPACE run by HOSPA (of which our brand, FM Recruitment are proud sponsors) takes place in November every year. As conference for senior professionals and host to an array of discussions and workshops from leading minds in the industry, offer the chance to establish yourself as a thought leader to address some of the key issues impacting the contemporary hospitality landscape, including sustainability, technology, wellness cyber security and career progression. 

Staying Ahead of Industry Trends
Trade events are where trends are born, making them essential for those looking to stay ahead in the fast-paced hospitality industry. The International Luxury Travel Market (ILTM) in Cannes taking place in December showcases the latest developments in luxury travel, from high-end destination offerings to personalized experiences. As luxury travel continues to be a key growth sector, keeping a finger on the pulse of new trends and consumer preferences is vital for anyone involved in high-end hospitality services.

The Current Hospitality Investment Landscape
The global hospitality investment landscape in 2024 is defined by recovery, growth, and innovation. After the challenges posed by the COVID-19 pandemic, the industry has seen a resurgence, with investment volumes outpacing pre-pandemic levels. According to JLL Research, global Revenue Per Available Room (RevPAR) in 2024 has exceeded 2019 figures by 12%, showcasing the robust recovery of the sector. 

Major investment deals in the first half of 2024, such as Blackstone’s acquisition of the Village Leisure portfolio for £850 million, highlight the renewed investor confidence in hospitality assets. Furthermore, there is a growing trend toward sustainable investments, with many investors prioritizing eco-friendly developments and wellness-focused properties, reflecting broader shifts in consumer preferences. 

Conclusion
The value of attending hospitality trade events cannot be overstated. These gatherings are more than just networking opportunities—they are platforms for learning, innovation, and growth. Whether it’s gaining insights into sustainable practices, learning about the latest technological innovations, or building your personal and business profile, attending these events can significantly impact your success in the hospitality industry. 

With the global hospitality industry continuing its upward trajectory, driven by strong investment activity and the adoption of innovative practices, staying engaged with industry events will be crucial for maintaining a competitive edge. Whether you’re attending to network, learn, or simply keep an eye on your competitors, these trade events in Q4 2024 offer valuable opportunities that no hospitality professional should miss. 

If you would like to discuss any of the above topics in more detail, please get in touch to arrange a chat. 

Dan Akhtar, Managing Director – HPG Advisory Services 
+44 208 600 1166 / +44 7808 157796 
[email protected]  

Image courtesy of hospace.org 

 

Navigating Budget Season in Hospitality: Essential Tips for Success

As we enter the final third of 2024, hospitality businesses are preparing for one of the most crucial periods in their financial planning—budget season.  

This time of year is more than just about balancing books and setting targets; it’s an opportunity to align financial goals with market realities, ensure sustainability, and set the stage for future growth. Crafting a successful budget requires a combination of market research, strategic storytelling, effective communication, and the ability to adapt to feedback.  

Here’s our guide to help businesses navigate the complexities of budget season with confidence and precision. 

Market Research and Forecasting
A solid budget begins with a deep understanding of the market and future forecasts. In an industry where trends can shift rapidly due to economic changes, consumer behaviour, and global events, staying informed is essential. The hospitality sector is anticipated to grow at a rate of 5.5% over the next four years, driven by factors like sustainability, wellness tourism, and flexible bookings. Understanding these trends allows businesses to tailor their budgets to meet market demands, such as investing in sustainable practices or wellness amenities. 

Analysing Past Performance
Before looking ahead, it’s crucial to review past financial performances. Analysing year-over-year changes, identifying trends in different market segments, and assessing profit and loss can provide valuable insights. This data helps set realistic goals for the upcoming year and pinpoint areas needing increased investment or cost-cutting.  

Competitive Landscape
Understanding the competitive landscape is equally important. Analysing competitors’ strategies, pricing models, and market positioning can reveal opportunities and threats. This intelligence should be integrated into the budget to maintain competitiveness.  

Crafting a Strategic Narrative
A budget isn’t just a collection of numbers; it tells the story of the business’s past, present, and future. Crafting a narrative from these figures that resonates with stakeholders is key to aligning the budget with the company’s strategic objectives. Highlight successes, such as revenue increases from a new marketing strategy, and address challenges with clear plans for improvement. Align the budget with broader company goals, such as market expansion or sustainability initiatives, to ensure it drives the business forward.  

Presenting to Senior Leadership
Once the budget is crafted, presenting it to senior leadership is the next critical step and the approval of the budget often hinges on how well it’s communicated. This presentation should be concise and well-structured, focusing on key messages and high-level summaries. Senior leaders don’t have time to delve into the details, so it’s essential to highlight the most critical data points and how they align with the company’s strategic goals. Use visuals like charts and graphs to make complex information more accessible and engaging.

Handling Feedback
Receiving and incorporating feedback is a vital part of the budgeting process. Be prepared to answer questions and justify every figure. Feedback should be viewed as an opportunity to refine the budget, demonstrating responsiveness and a commitment to the business’s success. Document all feedback and changes made, as this record can be invaluable for future budget planning.  

Team Engagement
Budgeting isn’t just a top-down process; it involves the entire team. Engaging with team members ensures the budget reflects operational realities and builds a sense of ownership. Department heads can provide insights into specific needs or challenges, making the budget more realistic and achievable. Ensure everyone understands their role in the budget and how it aligns with the broader goals of the business. Providing training and support, such as financial literacy workshops, can enhance the overall quality of the budget. 

Conclusion
Budget season in the hospitality industry is more than a financial exercise; it’s a strategic process that sets the tone for the year ahead. By conducting thorough market research, crafting a compelling narrative, presenting effectively, and engaging with your team, you can create a budget that not only meets operational needs but also drives growth and innovation. As the industry evolves, those who approach budget season with diligence and foresight will be well-positioned to thrive. Embrace the challenge, and let budget season be a stepping stone to your business’s success. 

Hospitality People Group is dedicated to exploring all opportunities to provide insights and support our clients and their people strategies to create lasting value and positive experiences for their employees and guests.  

If you would like to discuss your people strategy further, then please get in touch.  

Chris Denison Smith, Managing Director – FM Recruitment 
+44 20 8 600 1160 / +44 7775 711923
[email protected]  

Andrea Shaw, Director – FM Recruitment 
+44 20 8 600 1160 / +44 7714 236469 
[email protected]  

Dan Akhtar, Managing Director – HPG Advisory Services 
+44 208 600 1166 / +44 7808 157796 
[email protected]  

Guy Lean, Managing Director – Madison Mayfair 
+44 20 8 600 1180 / +44 7813 009787 
[email protected]  

Women in Hospitality: Paving the Road for Gender Equality and Inclusion

The hospitality industry is a vibrant and fundamental player in the global economy. Yet, despite its worldwide reach and potential for career growth, there persists an undeniable disparity in gender representation, particularly in leadership roles and pay equity.  

With technological advancements reshaping the way we work, we have an opportunity to make advancements in all areas, particularly in championing the cause of women in hospitality.  

Gender Equality – The Current State of Play
Celebrating women in hospitality is not merely a gesture of recognition but a crucial step toward achieving gender equality.  

A PWC report in 2020 revealed that among the lowest-paid 25% of positions across the hospitality, travel and leisure sector, 54% are held by women and of the highest-paid 25% of positions, 58% are held by men.  

This illustrates both the gender wage gap and the underrepresentation of women in the upper levels of the sector. 

The PWC report indicates that if the current rate of progress on closing the gender pay gap continues, it could take another two decades to achieve parity. This slow pace is unacceptable, risking the loss of invaluable talent and hindering performance.  

The gender pay gap in hospitality has widened, with the majority of board positions, which influence average pay, being held by men, despite women constituting 70% of the workforce. This imbalance is further exacerbated by high employee turnover and the prevalence of insecure, seasonal work, often occupied by women to fit around caring-at-home responsibilities. 

In 2022, women earned 17% less than men on average, a gap that is partly attributed to traditional patterns of women leaving the workforce during childbearing years, which affects continuity and contributes to lower wages.  

Despite efforts for equal pay, women lag in nearly every occupational category, with only 8.8% of Fortune 500 CEOs being female.  

Our Commitment to Gender Equality
At Hospitality People Group, we recognise that bridging this gap is not solely about promotion and remuneration but about fostering a supportive workplace culture where everyone can be empowered to realise their potential.  

This could entail providing flexible working options given the acceleration of technology and the increased ability to be connected while working remotely. This could be particularly hekplful to women as they return from parental leave or are navigating different life stages such as the menopause.  

By identifying and attracting the best talent and advocating for a diverse workforce, we can ensure that clients benefit from a wide array of perspectives, enriching the hospitality experience for all. 

We are committed to supporting women as they navigate the challenges of returning from maternity leave or caring for family members, while also aiding in rebuilding confidence and advocating for equitable practices among our clients. 

Andrea, Mara, and Tairona are all Founding Members of the “Inspiring Women in Hospitality” community, a platform that reflects a commitment to nurturing gender diversity and inclusion within the industry. Initially founded as podcast by Naureen Ahmed, the community has evolved and the Inspiring Community was launch in September last year.  

Naureen Ahmed joined us for a Success Story  during the month of International Women’s Day in March to share her insights on empowering women in hospitality. 

We are also proud sponsors of Boutique Hoteliers’ Women in Hotels brunch, taking place on International Women’s Day at art’otel London Battersea Power Station. 

How can Women in Hospitality be further supported?
Taking inspiration from the Inspiring Community we have summarised some of their key actionable recommendations below. 

  •  Fostering a Diverse Community 

To effectively confront gender bias, the hospitality industry must encourage the formation of communities that unite women from varied cultures, backgrounds, experiences, and age groups. This diversity can become a powerful force for change, as it brings a multitude of perspectives and solutions to the table, fostering a more inclusive atmosphere. 

  • Promotion of Gender Equality 

The industry should facilitate collaborations with women who are passionately working towards gender equality. Businesses can then help ensure that these discussions influence policy and practice at every level of operation. 

  • Professional Development Platforms 

Access to professional development platforms is crucial. The industry should provide spaces where women can enhance their skills and broaden their professional network. These platforms can serve as springboards for career advancement and personal growth, helping to break down the barriers that women face in the hospitality sector. 

  • Mentorship Opportunities

Mentorship is a key strategy for personal and professional development. The industry should encourage women to engage in mentorship roles within their peer groups, offering guidance, support, and encouragement to one another. This peer-to-peer mentorship can be a powerful catalyst for individual and collective progress. 

  •  Structured Career Discussions

Finally, structured career discussions, perhaps facilitated by industry specialists can provide direction and clarity for women forging their paths in hospitality. These sessions can help women identify career milestones and strategise on how to reach them, while also advocating for systemic changes that can pave the way for future generations of women in hospitality. 

Specialists in People Strategy
As specialists in people strategy, we recognise the importance of a diverse talent pool, and the impact of a workplace culture that supports it.  

This variety of perspectives, encompassing all genders and levels of seniority, is crucial for innovation and staying ahead in a competitive market.  

Offering flexible working arrangements and encouraging the option of shared parental leave could be game-changing ways to mitigate disparities, supporting women’s career continuity and contributing to a fairer and more inclusive workplace. 

The path to equality in hospitality is not easy, and it requires a concerted effort from all stakeholders. Celebrating women’s achievements, creating supportive workplace cultures, and leveraging technological advances for flexible work options could be key steps in the right direction.  

If you’d like to discuss how we support all people in the hospitality industry then please get in touch on +44 20 8600 1166 or via the below details.  

 Dan Akhtar, Managing Director – HPG Advisory Services
+44 208 600 1166 / +44 7808 157796
[email protected]  

Chris Denison Smith, Managing Director – FM Recruitment
+44 20 8600 1160 / +44 7775 711923
[email protected]   

Guy Lean, Managing Director – Madison Mayfair
+44 20 8 600 1180 / +44 7813 009787
[email protected]  

Andrea Shaw, Director – FM Recruitment
+44 20 8 600 1160 / +44 7714 236469
[email protected] 

 

 

Success Story – In conversation with Naureen Ahmed

Naureen Ahmed is a seasoned hospitality professional, a fervent community builder, an engaging storyteller, and the visionary founder of ‘Inspiring Women in Hospitality’.  

With a life journey that saw her living in four different countries by the age of 10, Naureen’s path to the hospitality industry felt predestined. Her academic pursuits led her to the EHL Hospitality Business School in Lausanne, where she felt an immediate kinship with fellow students, each with their own unique stories. 

Embarking on her career with a position at the Landmark London Hotel, Naureen quickly embraced the operational aspects of hospitality, setting the stage for a significant tenure at STR. Over 12 years, she transitioned through roles from analyst to head of departments, playing a pivotal role in transforming STR into the recognised brand it is today. Naureen’s leadership style is marked by inclusivity and a focus on building multicultural team environments. 

Recognising the underrepresentation of women in hospitality, Naureen launched the ‘Inspiring Women in Hospitality’ podcast to amplify female voices and inspire change within the industry.  

Her efforts expanded in September 2023 with the creation of the Inspire Community, a platform designed to foster support among women through mentorship and career development discussions. 

Can you share a significant challenge you faced in your hospitality career and how you overcame it? 

Advocating women’s empowerment is something I deeply care about. For me personally, one of my biggest challenges in the earlier years of my career was centred on speaking too quietly. The belief that hard work alone would get me noticed was a notion I held too closely, only to realise it was far from effective. I had to practise raising my voice, which felt like shouting to me, but it was the only way others could finally hear me. 

It involved pushing myself out of my comfort zone, especially in meetings where I forced myself to speak up, to make sure I was noticed. I learned the hard way that visibility is crucial for career progression. Looking back, I see how I could have approached things differently, particularly in how I shared my achievements and successes during one-on-one meetings with my manager—a practice I really underestimated at the time. 

The process of becoming more vocal and ensuring my voice was heard has become much more natural over time, but it still feels like a work in progress. It still takes time and practice, and it’s not about waiting for the perfect moment to feel ready. You just have to do it. 

What inspired you to create the ‘Inspiring Women in Hospitality’ podcast, and what do you hope to achieve with it? 

The inspiration for creating the ‘Inspiring Women in Hospitality’ podcast stemmed from my years at STR, where I was fortunate enough to interact with a diverse array of companies and individuals across the global hospitality industry.  

Despite encountering many incredible women, I noticed a significant gap in visibility; the industry’s leadership was predominantly male. This observation sparked a real desire to amplify the stories of these women, to create a platform where our voices could be prominently heard and celebrated. 

The concept for the podcast had been brewing since 2019, but it was the onset of the COVID-19 Pandemic, with all of us confined to our homes and all using Zoom, that helped bring this idea to life. It began as a passion project, but quickly evolved, and I’m about to do my 200th interview! 

 

My goal was always to ensure that every story, regardless of the individual’s level of experience, is heard. I believe everyone has the capacity to inspire, and by sharing these diverse journeys, I hope to create a sense of community and connection.  

The podcast aims to resonate with listeners, helping them see that they are not alone in their challenges and aspirations. Ultimately, I seek to foster a reflective space where we can pause, listen, and draw inspiration from one another. 

With joy being a core value of yours, what have been the most fulfilling and joyful aspects of setting up the Inspire Community, and how do you ensure that this stays central to the values of the business? 

Joy is at the heart of everything I do with the Inspire Community. The greatest joy comes from creating spaces where women can come together, share, and support each other, whether online or in person. It’s deeply fulfilling to facilitate these nurturing environments where open, judgement-free conversations allow us to celebrate our successes and navigate our challenges together. 

Maintaining this atmosphere of joy, positivity, and communal uplift is fundamental. It’s about ensuring we progress as a community, fostering an inclusive space where everyone’s growth is intertwined with mutual support. This commitment to collective upliftment and optimism is what I continually aim to embed in the core values of the Inspire Community. 

In your experience, how does the gender disparity in leadership roles within the hospitality industry impact the work environment and team dynamics? 

I’ve been fortunate to work in environments where gender balance was more or less maintained, even finding myself in teams at STR where women outnumbered men. My teams have varied over the years, from being all men to a mix, and coincidentally, by the time I left it was a team of all women, not out of design but based on talent. Personally, my approach has always been to hire the best candidate, regardless of gender. 

However, looking at wider research and insights, it’s clear that opportunities aren’t equally distributed between genders, with bias—often unconscious—playing a significant role. My aim is to raise awareness, educate, and challenge potentially biased decisions to ensure a more even distribution of opportunities. 

An interesting statistic from my interviews is that 51% of the women I’ve spoken to have started their own businesses, choosing entrepreneurship over navigating the complexities of corporate work-life flexibility. This trend underscores a need for more inclusive conversations around work arrangements, not just for women but for all caregivers, encouraging a shift towards more flexible work environments for both parents. 

In advocating for gender balance, it’s crucial to involve men in these conversations too. I’ve met many men in the industry who are strong advocates for gender balance. It’s important to engage with them, learn from each other, and work collectively towards uplifting everyone, finding solutions that benefit all, not just a select few. 

How has your personal leadership style evolved as you’ve navigated through your career?

It’s a bit challenging to pinpoint this, but I’d say it comes down to two things. The first is that my leadership style is incredibly flexible, tailored to the person standing right in front of me. This realisation came from understanding that everyone I work with brings a different set of experiences, backgrounds, and motivations to the table, and my approach needs to adapt to meet those diverse needs. 

The second, and perhaps the most pivotal shift in my leadership, has been recognising the role of empathy. For the longest time, I didn’t openly attribute my success in leadership to being empathetic. It wasn’t something that was traditionally highlighted as a key trait for leaders. But over time, I’ve come to see that empathy is what truly defines me as a leader. It’s allowed me to listen more intently, create a supportive space for my team, and understand their unique needs and motivations. This deep level of understanding has been crucial in helping each member of my team grow and develop in the direction they aspire to. 

What are the most significant challenges that women face in the hospitality industry today, and how does your platform aim to address these issues? 

We’ve all heard of the “old boys’ club” – a network that, frankly, doesn’t exist in the same form for women. At the same time, I’ve come across too many stories of women competing against each other due to the scarcity of leadership roles. This counterproductive mindset needs to change, and that’s where my platform steps in. We’re here to create a foundation for strong bonds and mutual support, to counteract these outdated dynamics. 

The community we’re building is not just about making connections; it’s a space for learning from one another. Each month, we delve into topics aimed at career development, offering practical insights that members can apply directly.  

Furthermore, recognising the gap in mentorship opportunities for women, we’ve initiated mentor matching to make these crucial relationships more accessible. It’s become clear to me that women often don’t have the same networking opportunities as men, especially those who juggle their careers with primary caregiving responsibilities. This limitation often restricts their ability to attend events and conferences, which are traditional networking avenues. 

By creating this community, we’re breaking down the barriers to networking and mentorship. We’re addressing challenges like building your profile and networking, both of which are essential for career advancement. Yet, it’s not just about what we can do individually; organisations also play a crucial role. They need to cultivate more inclusive cultures where everyone feels comfortable speaking up and sharing their ideas. If the environment doesn’t support openness, progress for anyone is stifled. 

This need for cultural change in the industry also ties into the broader issue of showcasing the diverse career paths within hospitality. Part of my motivation for the podcast was to highlight these opportunities, to show that there’s so much more to the industry than is commonly perceived.  

Organisations need to do a better job of marketing themselves as desirable places to work, focusing not just on customer satisfaction but also on being employee-centric. It’s about making the industry attractive to potential talent, and addressing the labour shortages by showcasing the variety and richness of careers available in hospitality. 

Looking ahead, what changes do you hope to see in the hospitality industry regarding gender balance and inclusion, and what role do you see the Inspire Community playing in this transformation? 

While some organisations and regions, not just in hospitality, have adopted quotas as a means to ensure diversity across the board, I must admit, I’m not a big fan of quotas. However, I do believe in the power of starting conversations and taking a hard look at the existing data within organisations to understand where the gaps and patterns of exclusion are. 

From my perspective, the focus should not solely be on recruitment but on nurturing and retaining the talent we already have, particularly women who have been invested in by their companies. It baffles me why any organisation would want to lose such valuable assets, especially considering the costs associated with hiring new employees versus retaining existing ones. 

Flexibility in the workplace is another area ripe for innovation, extending beyond the option of remote work to include flexible hours, part-time roles, and job sharing. Moreover, the approach to parental leave needs a broader perspective, encouraging leaders, especially men, to lead by example by taking their full leave if it aligns with the company’s values, setting a precedent throughout the organisation. 

As for the Inspire Community, I see it playing a crucial role in this transformation. Our community, predominantly composed of women in mid-career positions, represents the next generation of CEOs and industry leaders.  

My vision is to prepare and propel these women into leadership roles by fostering a strong support network, increasing visibility, and encouraging them to be vocal and recognised for their contributions. We aim to ensure that these women are not just filling positions but are also on stage, leading discussions, and gaining the recognition they deserve.  

The change starts with each of us, working together to create a more inclusive and balanced industry. 

To discuss how we can support your businesses with your overall people strategy or to access our full suite of human capital services through Hospitality People Group, please get in touch on Tel: +44 20 8600 1180 or directly with team below: 

Dan Akhtar, Managing Director – HPG Advisory Services
+44 208 600 1166 / +44 7808 157796
[email protected]   

Chris Denison Smith, Managing Director – FM Recruitment
+44 20 8600 1160 / +44 7775 711923
[email protected]    

Guy Lean, Managing Director – Madison Mayfair
+44 20 8 600 1180 / +44 7813 009787
[email protected]   

Andrea Shaw, Director – FM Recruitment
+44 20 8 600 1160 / +44 7714 236469
[email protected]  

The Importance of Awards in the Hospitality Industry: A Balanced Perspective

Awards season is well and truly underway. With the Golden Globes, BAFTAs and Oscars all grabbing headlines at this time of year, it is an opportune moment to look at the impact awards can have on people strategy and overall business goals.  

Winning awards, receiving nominations or simply making a red-carpet splash can help shape reputations for years to come, drive business growth and set the bar for high standards.  

With awards bodies such as The Michelin Guide, Forbes Travel Guide, The Cateys and Hotel Cateys, the hospitality industry has a vibrant awards season which can have a significantly positive impact on hotels, restaurants, and the professionals within.  

However, like any system of recognition, there are considerations and the emotional, financial and time investment should be weighed up before committing to participate. 

In this article, we look through some of the details you may wish to consider before implementing an awards strategy. This could help you and your team make the right decisions for the future growth and development of your business, while continuing to prioritise your workplace culture.  

Michelin and Forbes: Setting Industry Standards 

The Michelin Guide and Forbes Travel Guide ratings are among the most coveted recognitions in the hospitality industry. They are awarded based on rigorous criteria that assess the quality of food, service, and overall guest experience. Inspectors do not announce their visits (either on arrival or departure) and the smallest details can have a significant impact on the rating. 

Benefits: 

  • Boost in Prestige and Business: Achieving such awards can significantly elevate a property’s status, attracting more guests and increasing revenue. A Michelin star, for instance, is not just a mark of culinary excellence but also a powerful marketing tool that can put a restaurant on the global map. 
  • Benchmark for Quality: These awards set very high standards, encouraging establishments to strive for excellence. They serve as a benchmark for quality, pushing the industry, and those in it, forward in terms of innovation, service, and culinary artistry. 
  • Establishing Trust: For guests and employees, these accolades are a mark of trust and quality assurance. When choosing where to dine, stay or work, awards from Michelin or Forbes can be decisive factors for those seeking high-end luxury experiences, or a workplace that aligns with their own values and ambitions. 

Considerations: 

  • Pressure and Stress: The pursuit of these awards can create immense pressure on owners and employees. The stress of maintaining standards for Michelin or Forbes evaluations can be intense, sometimes leading to a stressful work environment. 
  • Cost Implications: Striving for such high standards often comes with significant financial investment, which can be a challenge, especially for smaller, independent establishments. Many operators have argued that the higher revenues don’t necessarily lead to higher profit. 

Individual Awards: Recognising Personal Excellence 

Awards like the Cateys and Hotel Cateys celebrate the achievements of hospitality professionals, from chefs and managers to front-of-house teams. Entrants are nominated by peers and senior management and entries are submitted for judging by a panel of industry experts who volunteer their services. The ceremonies are often glitzy affairs in grand hotel ballrooms.  

Benefits: 

  • Career Advancement: Winning an individual award can be a significant boost to one’s career. It not only recognises talent but also opens doors to new opportunities, networking, and professional growth. From a recruitment perspective, there is no doubt that winning awards will raise an individual’s profile and attract attention from headhunters. 
  • Motivation and Morale: Such recognitions can greatly motivate staff, enhancing morale and fostering a sense of pride and accomplishment. They highlight the importance of individual contributions to the success of an establishment. 
  • Industry Benchmarking: These awards set benchmarks for individual excellence, inspiring others in the industry to strive for similar achievements. 

Considerations: 

  • Subjectivity: Unlike awards based on specific criteria and mystery guest visits, individual awards are often based on a written application, which can be more subjective, sometimes leading to debates over the deservingness of winners. 
  • Overemphasis on Recognition: There’s a risk that the pursuit of awards might overshadow other important aspects of the job, such as teamwork and guest satisfaction. 
  • Limited Recognition: With so many deserving candidates in the industry, individual awards can only recognise a few, potentially leading to feelings of undervaluation among others. 

Awards in the hospitality industry, whether for establishments or individuals, have a profound impact. They drive competition, encourage excellence, and provide a framework for what constitutes high-end service. For consumers, these awards simplify choices, offering a guide to exceptional experiences. 

However, it’s crucial for the industry to balance the pursuit of awards with the overall well-being of employees and the financial health of the establishment. The pressure to maintain or achieve these accolades should not come at the cost of employee well-being or lead to unsustainable business practices. 

Moreover, while awards are important, they are not the sole measure of success. Many outstanding establishments and professionals thrive without them, focusing on delivering exceptional experiences that resonate with their guests. Ultimately, the true measure of success in hospitality lies in the satisfaction and loyalty of guests, and the fulfillment and well-being of the staff who make those experiences possible. 

If you would like to chat to us about giving your people strategy the red carpet treatment, then get in touch on +44 20 8600 1166.  

UK Hospitality Trends: What to Expect in 2024

Despite the challenges that the UK hospitality industry continues to face, owners, operators, and investors have many reasons to look forward with great optimism.  

While we specialise in people strategy and recruitment, Hospitality People Group is committed to continuously exploring the full hospitality landscape to identify trends and insights to support our clients in finding the best solutions for their businesses.  

Here are some of the key themes that we foresee will impact the hospitality sector in 2024. 

Hotel Investment
Investment trends in the hospitality sector are a valuable longer-term indicator of expected performance, and confidence in the UK market is booming. The rapidly increasing hotel supply in London, but also Edinburgh, Glasgow and Manchester, is being driven by both domestic and international demand. According to a recent report by Deloitte, London is expected to become the most attractive European city for hotel investment in 2024, with 11,000 new rooms planned to open.  

Outside of London, Edinburgh has the largest supply of five-star hotels in the UK with over 60 active hotel projects that are due to add around 5,000 rooms to the city’s hotel market. Some notable openings include  W Hotel, Tribute (expected to open in August 2024), and the Hyatt Regency Edinburgh Marina Hotel. 

The increase in supply will put ever-increasing pressure on the recruitment market, so like last year’s Battle for Retention, businesses that manage to retain their valuable employees may be better positioned than those that don’t. 

Travel Numbers
With the latest passenger travel figures from Heathrow, there’s a strong indication that 2024 will mark a significant milestone in the travel industry. For the first time since the pandemic, the total number of passengers passing through Heathrow is projected to surpass the figures recorded in 2019.  

A closer look at the international arrival data also reveals some intriguing trends. Travel from the Middle East and North America has not only recovered but has also exceeded the levels seen in 2019. The Asia/Pacific region is still lagging, with approximately 1.5 million fewer travellers in 2023 compared to 2019, but the majority of this shortfall occurred in the first half of 2023, suggesting that the gap is closing. While there is a disparity across different regions, the trend is positive and offers valuable insights for the hospitality industry as it welcomes more global travellers in 2024. 

Super Luxury Hotels 
The last year has seen a number of high-end luxury hotel openings in London, including The Peninsula and Raffles London at the Old War Office. Next year will see a new Mandarin Oriental and Maybourne’s new, all-suite, The Emory Room. Rates for these hotels all start at £1,000+, and this minimum rate expectation has already become a standard expectation for existing luxury hotels. According to a recent article from the Guardian, there is a new era of exclusivity, and with an expected 18% more visitors to London forecasted to spend 25% more than last year, there is an expectation that these higher rates will continue to attract those who can afford them. 

With these increasing rates and guest expectations, there will be skyrocketing costs and often unpredictable increases. At the highest luxury level, these costs can be far more easily passed onto guests, but guests at anything less than ultra-luxury hotels are likely to be a little more price-sensitive.  

Inflation and Rising Costs
The UK hospitality industry continues to face challenges due to inflation and rising costs. The 9.8% minimum wage increase to £11.44, which comes into effect in April 2024, will put pressure on the wage structure at all levels in hospitality. Many businesses may have to raise their prices again to cope with the increased costs. Some may consider reducing employee hours, but given the demand for talent, this could be a risky solution. Inflation, which is expected to remain above 3% by the end of 2024, has also increased the costs of raw materials and energy. Energy costs, in particular, have soared by more than 50% since 2021, making it difficult for hospitality businesses to operate profitably and sustainably.  

Just as strong financial leadership was so crucial during the pandemic, the direction now needed to ensure that the increasing revenues expected in 2024 translate into increased profit, will be essential. 

Hospitality Recruitment
The hospitality sector has been struggling to fill vacancies for some time, but the situation has been exacerbated by shifting demographics, the pandemic, and Brexit. With nearly half a million less 18 year olds than 10 years ago, the combination of the pandemic and Brexit has made it much more difficult to replace these potential employees, while skills shortages have made it harder to find qualified employees for specialised roles.  

Unfortunately, the recent announcement regarding the increased threshold for minimum salary needed to get a skilled worker visa is likely to increase pressure on this shortage. According to Kate Nicholls, UKHospitality’s Chief Executive, “There were 8,500 hospitality visas issued last year, which helped bring in talented chefs and managers of the future. Around 95% of those would no longer be eligible under these plans (an increase from £26,200 to £38,700), despite being offered competitive salaries.” 

Once again, the Battle for Retention is an increasingly important strategy for all hospitality businesses as they try to minimise employee turnover with a strong workplace culture.  

We hope this article will provide you with some insights and inspiration for 2024. 

If you are looking for a partner to support your people strategy in 2024, then please get in touch. 

Dan Akhtar, Managing Director – HPG Advisory Services
+44 208 600 1166 / +44 7808 157796
[email protected] 

Chris Denison Smith, Managing Director – FM Recruitment
+44 20 8600 1160 / +44 7775 711923
[email protected]  

Guy Lean, Managing Director – Madison Mayfair
+44 20 8 600 1180 / +44 7813 009787
[email protected] 

Andrea Shaw, Director – FM Recruitment
+44 20 8 600 1160 / +44 7714 236469
[email protected]

Is Hospitality really the most stressful industry in the UK?

April is Stress Awareness Month, and after a number of publications last year reported that 57% of hospitality employees regularly experience high levels of stress, we want to ask if hospitality really is the most stressful industry in the UK? 

The most stressful industry in the UK? 

In July last year, a report from addiction and rehab specialist Delamere, on the toxicity of the hustle culture, gave a breakdown on stress in various industries. This report was picked up in a number of other articles at the time, and presented hospitality as the most stressful industry in the UK. According to the report, 57.1% of “Accommodation and Food Service” workers reported poor mental health, more than Health and Social Care and Manufacturing which rounded out the top three places. The data to back this up were attributed to Lifeworks’ monthly Mental Health Index. These figures tend to vary by month and while Hospitality is no longer considered the worst offender in terms of workplace stress, it still rates consistently low in areas such as Average Hours Worked and Work-Life Balance.  

The impact of stress on retention rates 

Long Hours and Work-Life Balance, contribute highly towards levels of stress, which can eventually lead to burnout, especially if the level of commitment to the business and its culture begins to wane. Inevitable this can lead to reduced productivity and employee retention levels.  

Last year, we published The Battle for Retention which looked at a number of other factors that can affect employee turnover. 

Advice on how to tackle stress in the workplace consistently revolves around how to spot it in yourself, and in your employees. As individuals, we all have a responsibility to ourselves to recognise when we are working too hard or neglecting our personal commitments. Hospitality Action is a charity that supports hospitality employees both inside and outside of the workplace. In their Advice Hub, they share expert advice and information on how to get further support on a range of issues, including Stress.  

Signs of stress can include: 

  •  Difficulty sleeping 
  • Feeling irritated with family, friends or co-workers 
  • Drinking more than usual 
  • Struggling with work deadlines 
  • Feeling isolated and lonely 
  • Physical symptoms such as: panic attacks, headaches, chest pains, indigestion, dizziness, nausea, sweating, breathing problems 

Mental health charity Mind recommends some ways to manage it including: 

  •  Identify your triggers – Try to prepare for stress by recognising what sets it off 
  • Organise your time – Make a list of your tasks and approach them in order of urgency 
  • Be clear about your limits – While it isn’t always possible to say no to things, let people know if you don’t have the capacity to fulfil their demands 
  • Try to take a short break – it may seem counter-intuitive to take a break when you are stressed but if you can allow yourself one, this can help how you feel 
  • Develop interests and hobbies – Outside of work, try to make time for what you enjoy to take you away from stress 
  • Get enough sleep 
  • Stay physically active 
  • Eat a balanced diet 
  • Spend time in nature 
  • Build a support network – having friends and family, or finding support at work to talk through why you feel stressed can make a big difference 

Employers also have a duty to instill a workplace culture that can help spot the signs of stress and empower them to engage with employees on a more personal level, especially if they are seeing symptoms of stress in the team or in individuals. According to the Health and Safety Executive, signs of stress in a team can include: 

  •  Increase in arguments amongst staff 
  • Higher staff turnover 
  • More reports of stress 
  • More sickness absence 
  • Decreased performance 
  • More complaints and grievances   

 In individuals, leaders may notice a change in the way people act or feel, such as: 

  •  Taking more time off 
  • Arriving for work later 
  • Being more twitchy or nervous 
  • Mood swings 
  • Being withdrawn 
  • A loss of motivation, commitment and confidence 
  • Increased emotional reactions – being more tearful, sensitive or aggressive 

In addition to the free support for hospitality employees, Hospitality Action also offers a number of support packages including Stress and Resilience Training, designed to bolster the resilience and wellbeing of your employees. 

If you would like support with your people strategy in 2023, Hospitality People Group are here for you. With a superb track record in finding the right people for the right role, we have long standing relationships with clients and candidates and we can help guide you through challenging and sometimes stressful times.  

If you would like to chat about your people strategy, please contact us on +44 20 8600 1166.  

 

Briefing: securing a resilient, lasting hospitality industry in Africa

There is exciting growth in Africa, but what does the industry need to remember in order to build a market that works? Deals need to be solid, finances need to be secure, and the existing culture and infrastructure needs to be considered.

There is little point in rushing through a development that cannot be sustained for the future. It is also vital that there is quality in the product on offer. In this briefing four experts give their views on the key elements for successful developments in Africa:

  • Peter Greenberg, Travel Editor, CBS News with three pieces of advice for the hospitality industry

  • Olaf Schmidt, Global Sector Head – Tourism, Retail & Property, IFC – World Bank Group shares three messages from the IFC

  • Philippe Doizelet, Managing Partner, Horwath HTL – France on what the African hospitality industry could improve on

  • Rohan Patel, Director, Sankara Hotel Group Kenya Ltd on why hotel development projects must be sustainable

 


If you’ve been sent to this page and you’re not yet on the circulation list to receive these regular briefings and you would like to sign up, you can do see here. It’s free.

Video clips produced by ybc.hpgcms.wpengine.com for the Hospitality Channel, including interview from industry conferences such as the IHIF conference as well as specific Hospitality Channel shoots.

Briefing: youth shaping the future of hospitality in the Middle East

The growing population of young people within the Middle East is formidable, both the domestic population and the increased immigration into the region. This new generation will become tomorrow’s CEOs and General Managers and they are wired differently to any generation the world has ever seen.

As this demographic increases there are enormous opportunities for the hospitality industry, not only for them to be potential customers but also as potential colleagues.

What needs to be done to encourage talent into the industry? How should the industry change to cater for new tastes? And how should leaders impart their experience and knowledge to educate this new workforce? We hear from experts aiming to answer these questions including:

  • Pascal Gauvin, COO – India, Middle East & Africa, InterContinental Hotels Group on the growth of the domestic market in the Middle East.
  • Badr Al Badr, CEO of Saudi Hotels & Resorts (SHARACO) on workforce conditions in Saudi Arabia.
  • Muhammad Al-Amir,  Founder & MD of Riyada International Hotels and Resorts on bringing the new generation into hospitality
  • Gabriel Matar, former Director – Middle East & Africa, Hotels & Hospitality Group, Jones Lang LaSalle on the young population’s demand for hotels.

If you’ve been sent to this page but you’re not yet on the circulation list to receive these regular briefings and you would like to sign up, you can do so here. It’s free.

Video clips produced by ybc.hpgcms.wpengine.com for the Hospitality Channel, including interviews from industry conferences such as the IHIF conference as well as specific Hospitality Channel shoots.

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