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Hotel groups are increasingly embracing franchising as they pursue lighter, more scalable business models. But the shift from management agreement to franchise agreement is creating new tensions around control, independence, risk and responsibility.
Climate change is beginning to reshape tourism and hospitality, changing where and when people travel, how hotels are developed and operated, and what guests expect. From Mediterranean heatwaves and Nordic “coolcations” to shifting peak seasons and climate-resilient hotel development, the hospitality industry may need to rethink assumptions that have guided it for decades.
When we think of Christian Dior, we envision graceful silhouettes, the iconic New Look and Parisian elegance. But Dior was also a devoted gourmet who understood gastronomy, hospitality and the art of entertaining as part of a refined way of life.
As health and longevity trends increasingly challenge alcohol consumption, wine deserves a more nuanced discussion. Beyond its health implications, wine has played an important role in human history, culture and social life for thousands of years. Is it fair to treat all alcoholic beverages alike?
Did you know that the atmosphere can account for up to 20% of how much we enjoy a drink? Beyond taste and smell, lighting, music, surroundings and company all influence our dining experience. In fine dining and luxury hospitality, the environment can make all the difference.
What makes some negotiators more effective than others? Beyond experience, education and intelligence, certain personal qualities can make a real difference. Discover the essential characteristics that contribute to successful negotiation.
Despite the convenience of instant messaging and virtual communication, face-to-face meetings remain essential to successful negotiations. Even with limited time and budgets, negotiators should not underestimate the importance of human interaction. Here are five reasons why meeting in person can lead to better negotiation outcomes.
Creativity is an essential skill in negotiation. When faced with rejection, conflicting interests or obstacles, creative negotiators can find solutions that others overlook. Discover why creativity matters in negotiation and how to use it to achieve better outcomes.
Stress is an inevitable part of negotiation, but it is not always our enemy. A certain level of stress can sharpen our focus and improve performance, while excessive stress can affect our judgment and decision-making. How can negotiators learn to manage stress and use it to their advantage?
Strategic partnerships can help businesses achieve more than they could on their own. But a successful partnership must create additional value for both parties: 1 + 1 should equal 3, not 2. Here are five steps to building partnerships that deliver lasting results.
Change is inevitable, but the speed and complexity of today’s disruptions present new challenges for negotiators. As technologies, rules and expectations evolve, adaptability becomes an essential skill. How can negotiators adjust to changing circumstances and turn uncertainty into opportunity?
Too many negotiators rely on experience and instinct rather than proper preparation. Yet successful negotiation requires more than knowing what you want. Taking the time to anticipate challenges, understand the other party and plan ahead can make a significant difference. Here are five tips to prepare more effectively.
Misconceptions about negotiation can influence how we approach discussions and make decisions. Understanding where our assumptions may be wrong is an important step towards becoming a more effective negotiator.
French gastronomy is more than a culinary tradition. It is also a powerful instrument of cultural influence and diplomacy. France has long used its cuisine to build relationships, promote its culture and strengthen its international influence.
A bad reputation will always precede you. If you come to the negotiation table with a bad reputation, your counterpart will rightly be on the defensive despite considering a deal with you. Counterparts will be cautious and less inclined to make concessions. A good reputation brings more business and better business referrals. I personally prefer doing business and negotiating with people who have a positive record for generating money not only for themselves, but also for their partners. These are win-win partners.
Like athletes, CEOs can reach a steady continuous stream of performance through flow. Like navigator, they are intuitive and adaptive and can react with equal skill to good fortune and adversity. We have a lot to learn from.
Along with meditation, visualization techniques can be useful to negotiators. They improve creativity, confidence, and focus. Visualization basically consists in mapping your mind through a repeated projection of images and positive energy. These are things you want to happen and you believe in. It’s like working on a puzzle with the advantage of already knowing how the puzzle will look like when completed.
Most people are risk sensitive, especially when they are pushed to make a choice and money is involved. This sensitivity is fuelled by the attention we develop for negative aspects of things and bad news. The feeling of pain is also greater than the pleasure of gain.
If given a chance at an opportunity with a high potential payoff but an uncertain outcome, most will choose to stay home.
This is perfect example of failure in negotiation and influence and a great negotiation tip for readers. Gerard Ratner, CEO of Ratner Group lost his business, reputation and fortune almost overnight for forgetting some basic principles of negotiation and influence.
Although words only form a small part of the human communication palette, they are powerful. We continue speaking, listening, and reading every day even in the visual world we live in. Here are 5 reasons why you should pay more attention to your words.
It isn’t our position, but our disposition that makes us happy. Remember, some people freeze in the winter. Others ski. A positive attitude always creates positive results. Attitude is a little thing that makes a big difference. - John Mason
Successful negotiation requires positive energy and the creation of an environment that encourages cooperation. The attitude with which you enter a negotiation and the energy you diffuse plays a determinant role in that negotiation’s success. Positive energy increases your level of confidence and your capacity to absorb stress, makes you more influential, and opens your mind. People will also be friendlier if you adopt a positive attitude.
A negotiator will generally make fewer mistakes when their mind is positively charged, and they feel empowered. Negativity narrows their focus and tends to aim it in the wrong direction (often at themselves)
Brexit may not appeal to everyone, but it should get the attention of any business negotiator. Imagine the most difficult negotiation UK has ever faced in its history and a complex web of agreements with EU for 45 years, which now needs to be unraveled. By any standard, Brexit is a political nightmare, which will certainly benefit the lawyers who are lucky enough to gain a seat at the negotiating table...
Caught by surprise, the UK has been in a situation where its trade benefits with the European Union can be lost. The consequences may be devastating as British goods and services may become less competitive as a result of higher tariffs imposed on them. Corporations established in the UK might move elsewhere to obtain the benefits of the EU market. Some products, such as medicine, may become difficult to find, houses prices could fall, Scotland may want to remain in the EU...The challenge for the British prime minister and his team is huge...
Smartphones and computers are technologies that have become essential and ubiquitous in nearly every area of life, including negotiation.
With Covid-19, we have become even more dependent on these devices and electronic communication.
There was a time when we had to meet in person (or pick up our phone) and then send a fax for confirmation. Then came emails filling up our inbox and further reducing face-to-face meetings. Now people increasingly use instant messages to negotiate since apps, like WhatsApp, WeChat or Line, can transfer documents. This is not only instantaneous, but also spam free - probably because getting one's email address is more difficult than a personal phone number.
Zoom, Webex Microsoft Teams and other video conference platforms have slightly counter-balanced this trend, but the reality is we have have become electronic negotiators even more.
When I negotiate, I come across a fair bit of deceptive behaviors. It made me wonder if we were all lying or cheating when negotiating. I did some research and realized that we all do. Those who deny this are liars!:-) There are no saints or sinners. We’ve done it and here’s why:
Everyday people cheat and lie to strangers, friends, colleagues, clients and loved ones. It is just human nature. We have the ability to cooperate but also manipulate. Such ability developed after mankind’s use of language with the objective of gaining an advantage in the competition for resources and mates without using physical force. Well, you know what? Times have changed, but we are still programmed the same way.
All most refined ingredients were put together to create an exceptional event at the Mandarin Oriental Bangkok for Thai clients of Bank of Singapore: the Mandarin Oriental Bangkok (the most iconic hotel in town), a first class opera Singer, a top shelf jewelry maker, beautiful models, a 2 Michelin starred chef and the owner of four Bordeaux Grand Cru Classés.
A crisis like that of Covid-19 triggers a stream of challenging negotiations and re-negotiations. They are a challenge because:
⚠️ Stakes are high
⚠️ Discussions are often emotionally charged
⚠️ Situations are complex (multiple stakeholders and/or other factors)
⚠️ Stress can lead to risky decisions
Based on my experience, the following reduces chances of deadlocks and disputes, and increases chances of positive outcomes…
Like the traveling gnome in Amelie from Montmartre, The Master Key has gone on a trip around the world. Readers are invited to take pictures with the book with half their face in front of a famous buildings or an iconic scenery. The book cover title shall be visible.
We invite you to share these pictures on social media, tag the author, and use the #MasterKeyBook hashtag.
By sharing these pictures, you are given a chance to participate in The Master Key Contest and win great prizes.
Anger is very much present in negotiation and often gets in the way of successful outcomes.
We all experience anger when negotiating. It may come gradually or suddenly. Our blood pressure increases. Our body temperature rises and our face reddens.
Some negotiators use anger as a negotiation tactic. They show cold or hot anger from the start or change their mood along the way to force a counterpart to give in to something. If that anger is faked or exaggerated, the deception is obvious.
Some negotiators just don’t have the ability to cope with their own anger. It could just erupt every time they are triggered. And some can be very good at pushing other people’s buttons or testing their boundaries.
Ludovic is glad to announce a partnership with Grace T Kim, R. Ac., Master, Healer, Author, Coach.
Grace T Kim has accepted to create a guided meditation for readers of The Master Key with 2 exercises: one to prepare to an important negotiation and the other to reset during an important negotiation. We have asked a few questions to Grace T Kim about her career and her motivations to work with Ludovic:
You specialize in energy healing and chi? What is your story?