Vince Parrotta, COO of Omni Hotels & Resorts, talks about growth, development, and labor issues in the hospitality business. The podcast discusses strategies for attracting and retaining employees, the effect of increasing demand for skilled culinary workers on pay scales, the performance and outlook for the hotel business, the state of business travel and potential for a recession.
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Quick takeaways
ExxonMobil is developing solutions to reduce carbon emissions which can benefit industries like manufacturing, commercial transportation, and power generation.
The hotel industry is facing a shortage of talent across all levels and is implementing strategies such as competitive benefits packages and opportunities for promotions to attract and retain employees.
Deep dives
Addressing Carbon Emissions
ExxonMobil is working on solutions to reduce carbon emissions, such as carbon capture and clean energy from hydrogen. These solutions have the potential to benefit industries like manufacturing, commercial transportation, and power generation.
Challenges in Hiring
The Chief Operating Officer of Omni Hotels and Resorts, Vince Paretta, discusses the difficulties of hiring in the hotel industry. The industry is facing a shortage of talent across all levels, with the most impact seen in housekeeping, stewarding, culinary, and server positions. To attract and retain employees, companies like Omni offer competitive benefits packages, opportunities for promotions within the organization, and a positive company culture.
Travel and Business Trends
The hotel industry experienced strong transient and leisure business in 2022, but the recovery of business travel is still lagging behind pre-pandemic levels by approximately 20%. Companies are gradually returning to in-person meetings and conferences, and group business is showing green shoots of recovery. However, leisure travel is slightly behind 2019 levels. Despite concerns about potential economic uncertainties, forward-looking bookings indicate positive trends for the industry in the coming years.
Vince Parrotta, Chief Operating Officer at Omni Hotels & Resorts, discusses growth, development and labor issues in the hospitality business. Hosts: Carol Massar and Tim Stenovec. Producer: Paul Brennan.