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Casual Articles - The Boutique Hotel Manager
A reverse merger is a method used by many small and mid-cap companies to initially go public, its the purchase of, and reverse merger into, an existing public shell company. This is inexpensive compared with conventional Initial public offerings (IPO). This is also a simplified fast track method by which a private company can become a public company.In a reverse merger, an operating Private company merges with a public company that has little or no assets, nor known liabilities (the "shell"). A shell is what remains of a once public company that has ceased to operate, by going bankrupt or liquidation of assets. In some rare instances, the shell may have some amount of cash remaining for investment into the new enterprise. The public corporation is called a "shell" since all that exists of the original company is its corporate shell structure and shareholders. The private company owners obtain the majority of the shell corporation's stock (usually 90-95%) through a new issue of stock for the private enterprise or asset.The public corporation will normally change its name to the private company's name and elect a new Board of Directors which will appoint the officers. The public corporation will usually have a base of shareholders sufficient to meet the 300 shareholders requirement for eventual admission to quotation on the NASDAQ Small Cap Market or American Stock Exchange (if the private company's financial condition substantiates other NASDAQ or AMEX requirements). The company must file a form S-4, this form is use to register securities in connection with Business combinations and exchange offers. although some shells have as few as 35-50 shareholders, and are currently listed (or can apply for listing) on the OTC Bulletin Board or the NQB Pink Sheets.A Reverse Merger may be the quickest way to go public but is it the best?Lets look at a few drawbacks of using a Reverse merger to take your company public.(1). The cost of the shell: the price of corporate shells has skyrocketed over the last couple of years, due to increased SEC scrutiny and demand for shells by Chinese companies looking to go public and trade in the U.S.The price of public shells today start at $500,000.00 and people are paying it. With all the other expenses the final cost of doing a Reverse
The Bou
First some answers on a not so serious note:1. Make an estimate, then multiply by 2, divide by 0.134263 and take the square root after adding Pi times the estimate times 12.3452. Use a dart board and get some friends together to change the numbers to very high 8 figures. The one person that hits the same estimate range on the dart board 3 times is the closest to the estimate.3. Take a wild swing and at the end of the report, cite the analyst firm IMTSU 2006 (I Made This Stuff Up).There are 3 portions to the cost of resolving the options backdating issue:1. Tangible costs - Regulatory fines and expenses - Internal investigation fees - Audit investigation fees - Documentation & restatement fees - Back tax dues and penalties and interest - Share holder lawsuits: Settlement fees, Defense fees2. Intangible costs - Market capitalization loss - Employee turnover (not easy to guesstimate, but rest assured there will be some) - Internal & external communication expenses - (If delisted): stock appreciation opportunity costs3. Variable expenses - Reduced revenue from customer becoming nervous about purchasing productsFor the 3 companies we have worked with estimating $100 Million for a $3-5 Billion market capitalization in Tangible costs alone is on the average side.http://blog.vangal.com
That someday came true, when in 2004 I was invited to be the general manager of what was and still is one of Palm Springs most hip boutique hotels. I left another huge opportunity just to be a part of this amazing world. The art, the design, the vibe. I had never really worked anywhere with a “vibe”. A year later and I knew, I knew what many in the hotel business do not…what it is really like to be the gm of a hip, cool boutique hotel. It’s not for everyone and amazing for many.
There is a mini storm brewing in the boutique hotel world, one I don’t think most involved in this industry are aware of. With more and more boutique hotel operators entering the playground, more and more bad hiring decisions are being made. The right General Mangers are working at the wrong hotels. Like a square peg and a round hole, some things just do not work. Who is to blame and what can be done?
The Bou
There are many online job sites which allow you to upload your CV into their database. Employers then search these databases looking for suitable candidates to match positions they are offering. Here are 7 great reasons why you should submit your CV online and therefore improve your chances of being matched with the perfect position.1. Your CV is your link to potential employers and is your way of saying, “Look at me, look what I can do”. Huge amounts of employers search through CV banks looking for matches for positions they have to offer. By including your CV in as many databases as possible, you are increasing your chances of an employer finding you. 2. Some sites specialise in certain careers. By submitting your CV to a site in your field you are making sure that you get the best chance possible of finding a perfect match that meets your criteria. 3. Most CV banks keep you updated with information regarding your CV, such as how many times it has been looked at; what type of people are looking; and when. This way you know that at least employers are looking, even if you haven’t been offered an interview yet. 4. Most jobsite databases don’t charge you to use their services, the vast majority are some free. Submitting to these sites increases your chances of finding work without it even costing you a penny. 5. Editing your CV online is easy. All online databases give you the option of updating your CV if and when you need to. This is essential especially if yours is being looked over. Even if you haven’t any new information to add to it, just change the wording around a little and your CV will show up as been updated, which improves the chances of employers looking at it. 6. If an employer is interested in you then online database sites will send e-mail directly to your inbox with the details of the employer and the job on offer. 7. Employers and recruiters use CV databases to their advantage by typing in certain keywords when searching for candidates to fill positions. By including these keywords in your CV it is more likely to stand out and get chosen. In order for yours to stand out you could include such words as, analytical, adaptable, coordinated, evaluated, flexible, managed, marketed, motivated, organised, promoted, skilled and
That someday came true, when in 2004 I was invited to be the general manager of what was and still is one of Palm Springs most hip boutique hotels. I left another huge opportunity just to be a part of this amazing world. The art, the design, the vibe. I had never really worked anywhere with a “vibe”. A year later and I knew, I knew what many in the hotel business do not…what it is really like to be the gm of a hip, cool boutique hotel. It’s not for everyone and amazing for many.
There is a mini storm brewing in the boutique hotel world, one I don’t think most involved in this industry are aware of. With more and more boutique hotel operators entering the playground, more and more bad hiring decisions are being made. The right General Mangers are working at the wrong hotels. Like a square peg and a round hole, some things just do not work. Who is to blame and what can be done?
The Bou
The phone interview is typically used by hiring managers to screen possible job candidates rather than having to invite all of them in for longer face to face interviews.The phone interview is used to then cull the list of potential candidates down to a smaller group of people who meet certain criteria and appear to be suitable for the job.In my experience, employers who I've worked with who utilize phone interviews often do so for two main reasons.First they might be the type of hiring manager who for whatever reason likes to start with a large group of potential candidates and then quickly go through the list to identify a smaller group that they want to interview face to face in more detail.Secondly, hiring managers often utilize the phone interview as a method of interviewing out of town candidates who don't live in the same city (or state/province/country) as the hiring company.When you have a phone interview set up you need to keep a few things in mind:The person interviewing you can't see you (and you obviously can't see them either) so remember that they are judging not only what you say, but how you say it. Ensure that you are in a quiet place when the phone interview occurs.Ensure that you answer the phone at the time the interview takes place. Don’t miss the call! Don’t get distracted during the interview. Ensure you are alone and can’t be distracted by anyone or anything.If you're using a cordless phone, make sure you have good reception and that it's fully charged. It's not a great idea to use a cellphone unless you're sure you are going to have 100% perfect reception.As with a face to face interview, try to get an idea from the person interviewing you what happens next in the interview process before the call ends ie. When will you hear back from them? Is there a face to face interview next?
There is a mini storm brewing in the boutique hotel world, one I don’t think most involved in this industry are aware of. With more and more boutique hotel operators entering the playground, more and more bad hiring decisions are being made. The right General Mangers are working at the wrong hotels. Like a square peg and a round hole, some things just do not work. Who is to blame and what can be done?
The Bou
Franchisee has a lot to do about image. Many marketers would agree that image is the single most important part of branding. In the world of franchising and brand-name extension franchisors and franchising companies must pay attention to details to ensure that their brand-name stands tall in the eyes of the consumer and customer.There is probably no easier way to destroy a brand-name or image of a franchising company in a particular marketing region than to have a drunk driving accident with the company's name on it show up on the front page of the newspaper. It is for this reason and because I am appalled by drunk drivers that I decided to do what no other franchise or has ever done in the history of franchising; I specifically addressed the drunk driving issue in our company's franchise agreements. Below you'll find the clause that I inserted into each and every franchise agreement;3.24.2 Drunk DrivingFranchisee agrees not to drink and drive a mobile car wash truck or drive a vehicle while towing a mobile car wash unit of the Franchised Business on a public highway when Franchisee may be over the legal limit of toxicity. Franchisee also agrees not to drive their personal vehicle in the manner described above. Such violation of the law resulting in the conviction of a felony or misdemeanor is subject to termination of the Franchise Agreement.- - - - - - -Perhaps this might be something you wish to address in your franchising company and you would be well advised to consult with a franchising attorney to see if this makes sense for your company as well. Perhaps they have a better idea of the legality of this issue. My thoughts, were not as much the legal issue as a statement of how I feel as the founder of my company about drunk driving and image. There are certainly other ways to address this issue such as a clause about moral turpitudes and your franchise attorney can better advise you on this issue, please consult with them, as all I am not an attorney. Do consider this in 2006.
There is a mini storm brewing in the boutique hotel world, one I don’t think most involved in this industry are aware of. With more and more boutique hotel operators entering the playground, more and more bad hiring decisions are being made. The right General Mangers are working at the wrong hotels. Like a square peg and a round hole, some things just do not work. Who is to blame and what can be done?
The Bou
Overstock.com, with its very successful television campaign and terrific deals on wholesale merchandise of all kinds seems to be a model for the new online economy. The company has become something of a darling in the online wholesale world but all is not well. However, Overstock.com has been troubled by shipping problems, legal struggles and an ongoing financial crisis. While the company enjoys an excellent reputation over all questions have been piling up.A little over a year ago the Federal Trade Commission launched an investigation after receiving numerous complaints from customers regarding Overstock’s shipping policies. At the time Overstock claimed that the increased complaints were a natural result of the dramatic increase in the number of orders they shipped and was not because of any illicit behavior on their part.On Tuesday, February 28 the Salt Lake City based company announced that it would be revising economic reports pertaining to the company all the way back to 2002. They claim that a long running error regarding freight costs has caused them overstate their economic loses during that period.When all the recalculation is said and done it should increase Overstock’s inventory and reduce its loses by $3.5 million. Overstock says they will re-file their reports with the Securities and Exchange Commission as soon as they can. Investors seemed to regard the revision as bad news and the company’s stock dropped 53 cents a share. This adds on to an overall drop in the stock of 18% for the year. In fact the present value of Overstock’s shares is less than one half of their all time high that approached $60 a share.Early in February the company released annual financial data that showed that the company had a net loss of $25 million despite increased earnings. So while the regained $3.5 million might seem like good news it will have little effect on the company’s expanding economic problems.In August of last year Overstock’s former chairman, Patrick Byrne filed suit in California against Rocker Partners and Gradient Analytics accusing the investment fund businesses of conspiracy. Byrne has claimed that the financial analyst purposely tried to drive down Overstock’s value by making erroneous, if not fraudulent, statements on MSNBC and other financial news outlet
The Boutique Hotel
First let me first tell you that I have a very narrow view of what really constitutes a boutique hotel. I think that the term “Boutique” when used to describe a hotel is often misapplied. A boutique hotel is not defined by simply a hot design, as many would argue. In my opinion, a boutique hotel is a property that is uniquely significant in four ways:
1. Architecture and Design.
2. A high level of service. A property must not exceed 150 guest rooms, enhancing the guest to staff ratio.
3. Sell to a specific demographic.
4. Are independently owned and operated (this is where some will disagree with me).
A boutique hotel must be an independent operation. The hotel must not be part of a collection that is more than say, 10 properties. Beyond this you get into having a corporate hierarchical management style that is required in running a large company and maintaining brand consistency. Take W Hotels for example. In my opinion these are not boutique hotels. They look like a boutique hotel, even feel like one. Many boutique hotels would strive to be as great as a
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