Attendees at the recently concluded series of IAHI Industry Summit meetings were treated to a non-stop stream of practical…
Attendees at the recently concluded series of IAHI Industry Summit meetings were treated to a non-stop stream of practical, thought-provoking ideas, from tips on getting deals financed to understanding their individual leadership styles to dealing effectively with fads and trends that impact their business.
Held in Los Angeles, Dallas and Atlanta, the inaugural Summit series was designed to address industry-related issues and best practices, and to provide attendees with tools to enhance their success in today`s competitive environment.
The meetings were developed as a complimentary benefit to members of the IAHI, The Owners` Association of InterContinental Hotels Group.
Leadership can`t be learned by reading about it. You have to immerse yourself and get involved, said David V. Shamoian, IAHI Chairman. Our Association is committed to developing strong leaders, both for our organization and for the industry. Providing educational opportunities like the IAHI Industry Summit series is an important step toward realizing our goal.
Improving `People Skills`
Keynote speaker Michael Hoffman kicked off the day-long line-up of presenters, focusing on the people side of successful business performance. Hoffman, founder of Igniting Performance, a training and leadership consulting firm, told the audience that while some people are naturals at managing people, professionals do it on purpose, being intentional about their actions rather than reacting to the tornado of daily events.
Attendees had an opportunity to identify and understand their unique leadership styles in an interactive session facilitated by Julie Huston, an ACFC (At The Customer For The Customer) leader for GE Franchise Finance. The group completed individual assessment surveys that were developed by instructors at GE`s John F. Welch Leadership Development Center. Huston guided the attendees in discussing and interpreting their results.
The Leadership Styles session was an abridged version of a teaching unit included in the IAHI Leadership Institute, an annual, invitation-only leadership development program for Association members developed by the IAHI in conjunction with GE Franchise Finance.
Funding and Operations
Finance took center stage with a panel discussion and audience Q&A session on creative financing tools, moderated by Jeff McKee, Senior Vice President-Hospitality for GE Commercial Finance. The panelists included experts in a range of areas, from mezzanine financing to conventional lending to Small Business Administration loans.
The attendees also received an update on a groundbreaking financial benchmarking tool the IAHI has created for its members. Michael Wohl, founder of Statability, the company that developed the proprietary software, demonstrated for the participants how the new tool will enable owners to compare their operating results against those of the same IHG brand and property type in real time.
A Glimpse of the Future
Jeff Webber, Senior Vice President and publisher of USATODAY.com, discussed how the explosion of media vehicles over the last decade has given consumers not only unprecedented choices, but growing control over how they receive information. Consumers are responding to the overwhelming nature of these choices by going to brand names they trust, he said.
An even broader look ahead concluded the Summit sessions, as futurist David Zach took the audience on a colorful, whirlwind tour of the future. Zach, who holds a master`s degree in Studies of the Future from the University of Houston Clear Lake, illustrated for the audience how to distinguish among fads, trends, and principles. He also discussed how technology is removing many of the boundaries on where work gets done, leading to a growing importance in the experience of travel.
Attendee response to the Summit series was extremely positive. IAHI member John Simpson, who owns Simpson Land Company and operates the Holiday Inn Select in Solomons, MD, attended the Atlanta session. It hit me in Michael Hoffman`s presentation how critical it is to get anonymous feedback from your employees on how well you are managing them, he said. That was one of a number of insights I got from the Industry Summit meeting. It was a day well spent for getting ideas to improve my business.
The Summit was an action- and information-packed day, said Marlin Keranen, General Manager of the Holiday Inn On King in Toronto, who attended the Los Angeles session. I`m excited about getting Canada rolling on the financial benchmarking tool, and the expert panel on best financial practices was particularly informative and interesting. I also enjoyed the practical view of the future that David Zach provided-many of the things he mentioned we can be aware of and take action on now.
The Summit agenda also included a reception and trade show, featuring a number of the IAHI`s Associate Members-vendors and suppliers who support The Association through sponsorships and special programs for members.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
