PERE column: It’s good to talk
From the July/ August issue of PERE magazine:
It’s good to talk
Private equity real estate managers active in hospitality should seek to avoid disputes and headline risk by engaging with employees, writes, Jim Baker, spokesman for UNITE HERE, the North American hospitality union
Private equity real estate managers probably do not spend a lot of time thinking about employees at their portfolio assets. But in the hospitality industry, employees are so important to property operations that they should not be ignored.
The growing public debate about income inequality and the mini mum wage has brought disputes regarding wages and benefits at hotels and casinos into sharper public focus.
But private equity real estate managers do have a choice. Will you engage with hospitality workers and identify ways to work together, or will you avoid dialogue and risk disputes and related headline risk?