At the end of last week, I had the opportunity to attend a meeting for the Marriott Diversity Ownership Initiative. This meeting introduced me to new terms related to the hospitality industry such as RevPar.
My attendance was due to a client/partner project. This project involves the creation of a fund to acquire limited-service hotels in the Midwest and Southeast portions of the United States. We will then utilize various partnerships to execute acquisitions.
What intrigued me was the level of collaboration by the participants and organizations such as NABHOOD - The National Association of Black Hotel Owners, Operators & Developers, Inc. The environment reminded me of the open source world of the information technology industry. We were sharing knowledge and creating virtual business partnerships through casual business networking. Additonally, I was pleased with the program and how it also focused on our domestic emerging markets as opporunities to create jobs.
In future posts, I will let you know how this project plays out. In the meantime, have you thought about a best practice from another industry that can be utilized in your business?
Be+Do+Solve(TM)
My attendance was due to a client/partner project. This project involves the creation of a fund to acquire limited-service hotels in the Midwest and Southeast portions of the United States. We will then utilize various partnerships to execute acquisitions.
What intrigued me was the level of collaboration by the participants and organizations such as NABHOOD - The National Association of Black Hotel Owners, Operators & Developers, Inc. The environment reminded me of the open source world of the information technology industry. We were sharing knowledge and creating virtual business partnerships through casual business networking. Additonally, I was pleased with the program and how it also focused on our domestic emerging markets as opporunities to create jobs.
In future posts, I will let you know how this project plays out. In the meantime, have you thought about a best practice from another industry that can be utilized in your business?
Be+Do+Solve(TM)
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