The general manager at The Muse Hotel had challenges like many other hotels in NYC throughout 2008; He questioned whether he should lower or maintain his current fees.
He had good reason to look for a new strategy amidst the Wall Street decline, the banking sector collapse and financial services sector in ruins.
He stuck to his beliefs and stuck with the traditional rate. His belief was that his hotel was just renovated, the location is off Broadway, and The Muse is a boutique hotel with an incredible staff delivering incredible service.
The results were a combination of luck and planning. While the Ritz had floors closed and the Broadway Marriott was down 30%, The Muse held strong most weekends with sold out capacity, even on some rooms that netted fees exceeding $1000.
Looking at the element of luck, based on my experiences with decision makers over the past several years, the GM made his own luck. He did things right, and now customers are returning because…well…it's The Muse.The Strategic Alchemist™ , David Goldsmith is President and co-founder of MetaMatrix Consulting Group LLC. Over the past 24 years David has founded or co-founded nine businesses ranging from distribution to manufacturing to advertising. In 1999, David sold his 14-year-old Syracuse, NY based Image Promoters, Inc. which he co-founded in 1986 to Proforma Associates, a 400-location franchise. He has been a consultant to various industries including telemarketing, high tech, logistics, retailing, hospitality, tourism, and manufacturing. Working with business owners, and corporate and mid-level management, David rapidly creates strategies that win in the marketplace