7/31/2014· Hotels & Hospitality
By: Neal Dhanani
Hotel turnaround management consists of several ingredients. First and foremost, time is of the essence. Speed and time in which the actions are taken will decide if and how the turnaround will be take effect or be completed. Along with speed, a strategic plan needs to be created by studying the market, comp-set, and property. The plan should include the basic who, what, when, where and how. Without a map, strategic plan, one cannot reach their destination.