| Success
Factors | Business
Strategy | Business
Processes | ScoreCard
II.
Business Strategy
- Research
We gather and disseminate market and competitive data
to form business strategies for each property. Careful
monitoring of these strategies help managers anticipate
the changing needs of our stakeholders.
- Education
Education and training acknowledges the importance of
today's information-based environment by communicating
operating standards and using team-member knowledge.
- Brand
Standards
There is an importance of adhering to brand standards,
for the price of failing to do so involves unnecessary
expense for service recovery and lost revenue. Therefore,
all team-members are trained in the brand standards that
our properties are expected to deliver.
III.
Business Processes
We
use a thorough annual business planning process that links
our business strategy with tactical actions. This process
includes the development of: an Annual Business Plan; Department
Business Plan; Individual Performance Management; and Recognition
and Awards.
Each team-member is consistently exposed to the hotel's operating
strategies. This strategy is reinforced in all communications
throughout the year, and at monthly performance review meetings
as team-members manage actions and measure results.
IV.
ScoreCard
The ScoreCard provides a balanced monthly view of each hotel's
present business performance compared to budget and prior
year.
Standard
|
Benchmark
|
|
>
Overall Product Score
> Overall Service Score
> Intent to Return |
|
>
Team Satisfaction Survey Score |
- Product
Quality Standards
|
>
Brand QA Score
> Pinnacle QA Score
> PinnacleCare Program |
|
>
Brand Compliance
> Business Performance |
|
>
Internal Audit Score |
|
>STR
Performance
> Manager Controlled Profit (GOP) |
PROPERTY-SPECIFIC
GOALS
are linked to:
a) Performance reviews
b) Incentive bonuses
c) Merit-based salary increases
d) Promotions, rewards,
e) Team Celebrations
Clearly,
this approach supports the concept of measuring whatever is
valued, so that it gets delivered. Each team-member knows
what is expected of them and how they are doing. The Pinnacle
ScoreCard quickly translates corporate strategic direction
into property-level goals - and this becomes the critical
link in the company's business philosophy.
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