David Kong, President and CEO, Best Western Hotels & Resorts

Summary

The speaker reflects on the profound impact of the crisis on business operations, emphasizing the need for embracing change and innovation in sales and marketing strategies for a more efficient and productive future. Acknowledging the severe hit to the hotel and airline industries, they express the emotional toll of making tough decisions and the commitment to recovery. Drawing strength from the industry's inherent optimism and camaraderie, they express hope and optimism for rebuilding and strengthening the sector post-crisis.

Takeaways

• 🔄 The crisis will lead to significant changes in how businesses operate, necessitating adaptability and a focus on efficiency.
• 💡 There's a need for innovative sales and marketing strategies during the recovery phase to cope with the evolving business landscape.
• 🌟 Embracing change and being open to new ideas is crucial for businesses to thrive in the post-crisis environment.
• 🏨 The hotel and airline industries are among the hardest hit and are expected to be the last to recover due to substantial revenue loss.
• 💼 Tough decisions, such as workforce reductions, are being made to ensure survival, impacting not only the employees but also their families and friends.
• 🤝 The speaker is committed to bringing back team members once business improves, highlighting a sense of responsibility and loyalty.
• 😔 The emotional toll of making difficult decisions is acknowledged, with the speaker expressing empathy and understanding for those affected.
• 💪 The hotel industry's people-oriented nature and inherent optimism provide a source of strength and resilience during challenging times.
• 🌈 There is a sense of optimism and hope for the future, with the belief that the industry can rebuild and emerge stronger from the crisis.
• 🤗 The supportive and uplifting nature of the industry's community is a source of encouragement and a driving force for overcoming current adversities.

Q & A

What is the speaker's perspective on the impact of the crisis on business operations?

The speaker believes that the crisis will change how business is conducted, emphasizing the need to adapt to new ways of working, focusing on efficiency and productivity in sales and marketing during the recovery.

What does the speaker suggest is necessary for the future of business?

The speaker suggests that embracing change, accepting new ideas, and being willing to make necessary adjustments are crucial for the future of business.

Which two industries are mentioned as being hit the hardest by the crisis?

The hotel industry and the airline industries are mentioned as the two industries that were hit the hardest by the crisis.

Why does the speaker believe these two industries will be the last to recover?

The speaker believes these industries will recover last due to significant revenue loss and the need to make tough decisions.

What personal challenge does the speaker face when making tough decisions?

The speaker faces the challenge of knowing the impact these decisions will have on people they have known for years, including friends and their families, which is emotionally difficult for them.

How does the speaker plan to deal with the emotional impact of making tough decisions?

The speaker is committed to working hard to bring people back once business resumes, using this commitment as a way to cope with the emotional impact.

What characteristic of the hotel industry does the speaker find uplifting?

The speaker finds the optimism and people-oriented nature of the hotel industry uplifting, which helps in maintaining a positive spirit during challenging times.

How does the speaker describe the resilience of the hotel industry?

The speaker describes the resilience of the hotel industry as a strength that allows them to lean on one another and rebuild, potentially becoming stronger through the process.

What gives the speaker hope and optimism for the future?

The speaker's hope and optimism come from the strength and resilience of the hotel industry, as well as the supportive and optimistic nature of its people.

What commitment does the speaker make regarding their team members?

The speaker commits to bringing back their team members as soon as business resumes, showing a dedication to the well-being of their staff.

How does the speaker view the role of relationships within the organization during this crisis?

The speaker views relationships within the organization as a source of strength and resilience, providing emotional support and a sense of community during difficult times.