The 2010 London Hotel Salary and Benefits Report published by HVS Executive Search presents salary and benefits information for Executive Committee (including General Manager) and Department Head positions.
The 2010 London Hotel Salary and Benefits Report published by HVS Executive Search presents salary and benefits information for Executive Committee (including General Manager) and Department Head positions. The seventh edition of the report includes data from 62 First Class and Luxury London hotels.
Following are key trends noted in the report:
The average increase in median management salary from 2009 to 2010 was 6%.
Chris Mumford, Managing Director of HVS Executive Search, commented,
"The impact of the global financial crisis in the autumn of 2008 and the ensuing tough trading conditions for London hotels clearly had a negative impact on management salaries in 2009. This year has been stronger with solid improvements in occupancy and rate being mirrored by healthy gains in base salary levels which have risen at twice the rate of inflation."
The
highest gains in individual remuneration figures were recorded by Directors of Sales, Revenue Management and Reservations which reported salary increases of 20%, 17% and 14% respectively.
This is a clear indication of hotels responding to the pressures of room night generation and effective yield management by increasing their resources in these critical areas.
Non-revenue generating operational support functions such as Human Resources, Housekeeping, Security and Front Office saw salaries drop slightly over the past two years. Similarly Engineering and Food and Beverage have posted below inflation gains.
Salary increases were slightly higher at First Class Hotels (7%) than at Luxury Hotels (6%).
Looking ahead, HVS expects to see a cautious increase in salaries for most managers at the rate of inflation as the recovery continues and fears of a double dip in the economy dissipate.
Such is the competition for talent in Sales and Revenue Management that we expect the trend for above average salary increases in those disciplines to continue.
The 2010 London Hotel Salary & Benefits Report by HVS Executive Search presents data on:
- 34 key Executive Committee and Department Head positions
- Annual base salary
- Bonus – target bonus and last paid annual bonus
- Benefits – transportation, medical, pension
Surveyed by HCE Data ServicesTM, the hotel industry's most comprehensive guide to compensation and benefits, this report will provide hotel owners and operators current and credible information concerning salary and bonus trends at London hotels.
The report is available for £500 and can be ordered online via the link below (new window opens) or by contacting Pooja Vir at PVir@HVS.com www.hvs-executivesearch.com/CompensationConsulting/Reports 
