By Virginia Wolfe,
Stillman News Writer
On October 19, 2017, ALPFA, the student organization at Seton Hall University, provided a platform for students and others to learn more information regarding the financial dynamics that propel current trends in international luxury hotel chains.
The speaker was Gregory Schipilliti, who conducted a dynamic presentation on what constitutes successful principles of running a finance organization. He used the company where he works, The Leading Hotels of the World, which was established in 1928. He delivered his multilayered presentation with clear verbal articulation and a well-defined PowerPoint.
Through these modes, he expressed that in today’s global economy, recognizing how effective marketing techniques are used to drive successful franchises are key staples in learning how to capitalize on recognizing industry trends.
These techniques must be understood and sought after in order to stay up-to-date with fresh innovative ideas. These ideas will facilitate in meeting the growing demands and interests of whatever targeted clientele it aims to please and nurture ongoing relationships with over the years.
Gregory Schipilliti said, “You end up loving the experiences that you share with people.”
This is a successful motto that business employees and leaders in the hospitality industry are expected to embrace.
Doing so will ensure that the roles in which these individuals work in are propelled further through the right management of egos coupled with specific communicative styles and genuine interconnectivities.
Using social media is a key contributing factor to ensuring that this is continuously achieved.
Social media is a current and fresh tool which has the power to reach millions of people through specific ways. –Consumers’ desires are sought after through keen attention to micro analyzing details that will bring the ultimate pleasurable experiences with no delayed gratifications.
The fact is that with respects to running a finance organization, such as a hotel, distribution and reservation are the database of any company.
Through these channels, clear-cut operational strategies are clearly recognized and propelled into successful execution methods so that hotels will operate in optimal excellence.
According to Gregory Schipilliti, having the right financial business partnerships are required. If others follow the leadership standards of Gregory Schipilliti’s company, then they should also expect to yield fruitful results and harvest excellent revenues.
These standards include the following: being authentic, being engaging and collaborative, making life and work easier and less stressful, creating possibilities, bringing your goals to life, creating the conditions for people to succeed, consistently and competently delivering great performance, continuing to grow as an individual.
Once these leadership standards are recognized, Gregory Schipilliti expressed that it is necessary for his company to continue to uphold these leadership standards and that through the implementations of specific values, the company’s fundamental operational goals are further executed.
Some of these values include: staying passionate about the curiosity of travelers, staying passionate about hoteliers, always being at your best, freedom to succeed, accountability and resistance, creating a trusted environment, taking pride in what the company does, and valuing one another’s systematic contributions.
Through these pursuits, coupled with embracing four key pillars, Gregory Schipilliti shared how his company continues to excel. These four pillars, which also facilitate in the success of The Leading Hotels of the World, are financial reporting and richer analytics, global strategy and policy enablers, focused business partners, and all-purpose glue (center of excellence).
The first pillar, financial reporting and richer analytics has the quintessential goal to enable the right decisions. This goal is centered on budgeting/annual operating plans, forecasting, strategic planning, management reporting, Ad Hoc financial analysis, capital planning, and business modeling.
The second pillar, global strategy and policy enablers, has the fundamental goal to enable productivity and alignment. This will happen through the following: delivering strategic corporate objectives, driving economies of scale, elimination of duplicate activities, standardization, international and external compliance.
The third pillar, focused business partners, has the main aim to enable priority and focus. This goal is achieved through five main ways: strategic value focus, providing growth strategies, decision support, value preserving or value protection or value enhanced advice, and through facilitating the right culture for performance management and expertise.
The fourth pillar, all-purpose glue (center of excellence), has the goal to enable collaboration and engagement. This goal is put into effect through the following: the center of excellence also being a center of competence, simplification of process and a driver of culture change, creating communities of experts and topics that are pressing for the company, and performance management that combines historic and forward looking information.
Through embracing direct consumer demands, and upholding stringent operational standards, international luxury hotels will continue to engender ongoing loyalty from its clientele, employees, and other investment holders.
This is the necessary fusion that acts as a springboard to making sure that business profits increase significantly through the years and that consumer satisfaction is fulfilled.
A version of this article appeared in the Tuesday, November 7th print edition.
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