Dollars & Sense: Merging Cultures Post-M&A
External Article | Hospitality & Foodservice Insights
This article was originally published by Hotel Business Review. See link below for full article.
A super platinum – everything status guest with a certain brand hotel chain walked into one of his favorite properties after this brand recently merged with another chain, looked around and said, “It just isn’t the same. I don’t even recognize them anymore.” He then walked out of the door determined to find a new favorite property he could count on.
Does this sound far-fetched to you? It shouldn’t; it happens all too often, and it should send chills down every leader’s spine. While this anecdote focuses on the guest, you can imagine the impact this would also have on the employees.
Mergers and Acquisitions can surely impact the bottom line in the short term, but more importantly, they can also impact guests, team members, and anyone associated with a brand. Unfortunately, these components often get lost in the short-term activity and shuffle.
In a world where M&A can happen anytime, to (almost) any company, leaders need be prepared and know how to manage and facilitate the process.
Read full article at Hotel Business Review – “Dollars & Sense: Merging Cultures Post-M&A”