I am enjoying the most amazing hotel stay this week at the Hotel Monaco in Denver. I got free parking – a bottle of wine – a happy hour with free food and drink – a breakfast that was almost reasonably priced (well hey you can’t ask for everything) – and the most attentive service I’ve had in a long time. The room is not 100% updated. The bathroom walls are a plain tile and the TV is traditional. However, the décor is beautiful and the amount of space I have in my regular room is luxurious.
Why am I raving about a hotel room, you may ask? It’s because I got it for an incredibly reasonable price. The hotel doesn’t seem real full – and it’s not a name brand Marriott or Westin, although I’m not sure that would change its occupancy rate. And the low price . . .well —- suffice it to say I have no doubt it is a reflection of the hotel working hard to keep people employed and thrive during these tough economic times when virtually everyone has travel restrictions.
I also have no doubt that many of our suppliers are trying to think like this hotel. In all our nervousness about the future of our employers and our jobs, it’s so easy to forget that suppliers are nervous too.
I encourage you to do the things you need to do. Cost cut aggressively, renegotiate pricing, and deliver the results your organization needs. But don’t forget those suppliers that have maintained their customer focus, and especially if they delivered it at a good discount, because these are the ones that are likely to survive the downturn with gusto. You can be sure, when I come back to Denver, I’m staying at the Hotel Monaco!
Category: Cost Cutting Tags: