Editorial October 28 2005 In the name of the money
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Editorial October 28, 2005 - In the name of the money

Dear Insiders,

The news of the week was definitely provided by Cendant. The giant company from New Jersey clearly justifies the splitting of its group into four independent companies: the restructuring is necessary, as the shareholders want to see more yield. Good-bye hospitality! It is hardly possible to show narcissistic hosts and long-serving patrons more drastically that their noble convictions no longer count, but that it is solely the "dough". It is no longer about hospitality, but about business, regardless of what kind. Excluding Cendant's hospitality part from the corporate structure will leave it exposed to a harsher wind on the market. In the end, the company will become a much easier target for the takeover bids of the Blackstones and Colonys of this world... That is my opinion. Two of our external hotel experts provide a commentary about the current situation from their point of view.

The news from Starwood has to be seen as well in this respect: the profit of the quoted company suffered a massive slump in the third quarter and immediately, CEO Steven J. Heyer announces the selling of property worth between two and four billion US dollars. Here, somebody is also in desperate need of "cash in his till" - for greedy, yield-hungry shareholders.

The pressure to make money is closely connected to the compulsion to save money. Not only is this reflected in the big international context, but also in the small German one. The purchasing companies are experiencing a boom! Every cent counts, from ordering salad to buying cars or paying for energy. Behind the scenes, the hoteliers are becoming ruthless traders demanding more and more services from the purchasing companies. Here, a change is taking place as well, in the name of the cash register.

In this issue, you'll read how the Brenner's Park-Hotel & Spa in Baden-Baden is separating its cash register from that of the physicians of the medical spa. Read also about the new advance by the Rosebud group to finally change the Swiss mega resort Buergenstock into a profitable hotel. And regarding Kempinski's MBA, it is naturally about the "cash in the till", too. Its realisation causes some confusion, at least in our heads.

Enjoy reading.
Yours, Maria Puetz-Willems

Any comments? Please, address to maria@hospitalityInside.com

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