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E-mail: [email protected] |
Harry Nobles & Cheryl Thompson Griggs, July
2002
AAA�s recent announcement to delay implementation of the latest revision
of the Diamond Rating Guidelines has prompted calls and emails from many
of our clients. The most frequently asked questions are �How does
this affect my rating�? and �Is this good or bad news for my property�?
Our professional assessment is that the delay is most beneficial to existing properties that already have a AAA rating. The delay does not necessarily make it easier for new properties to earn and retain a higher rating. The industry should expect to see a continuing increase in the rating requirements and expectations. This is not news to managers and owners who have witnessed so many changes in the physical facilities and guest services at all rating levels in the past several years. AAA has regularly revised and updated its ratings criteria to keep pace with these changes, and no doubt will continue to do so. We feel confident in predicting that competition will drive guest expectations and AAA�s rating standards ever higher. The industry will respond as it always has by building more sophisticated hotels and providing more extensive services. Hence, the upward spiral continues; yesterday�s 5 Diamond becomes today�s 4 Diamond, a 4 drops to 3, and so on. It is important to remember that AAA�s moratorium is only for one year. Once the 2001 version on the Diamond Rating Guidelines are implemented in 2003, the more exacting requirements will affect all properties at all diamond levels. While AAA�s decision to delay implementation of the latest revision does not make it easier to earn and retain a higher rating, it is an appropriate, fair, and reasoned response to the 9/11 tragedy. It gives properties some breathing room to deal with the effects of the event. One way to use this time is to assess your current rating status and how it affects your position in the market. Your property�s AAA rating and market position is always important and in light of 9/11, this may be a particularly opportune time to look closely at your rating and the cost to maintain that rating in view of the higher AAA standards. |
Harry Nobles Hospitality Consulting
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