Home' Hotel Management : HM FEB 2017 Contents Super tax laws and contribution laws are changing this
year. Intrust Super will ensure our members understand
how they might be impacted by these changes. Our
members also have access to quality financial advice that
suits their schedules. Our financial advisers are available
to ensure our members reach their retirement goals in this
current economic climate.
So what is the outlook for the 2017 economic
climate? 2016 was a fairly volatile year and we expect
2017 to be the same. Firstly, we are already seeing higher
global interest rates. We will also see higher oil prices,
which will mean higher energy prices here in Australia.
Higher energy costs and interest rates may cause some
nervousness in the market.
The big development in 2017 will be whether US
President Donald Trump can really ignite the American
economy. President Trump is appointing various business
people to key cabinet positions. Along with his policies
to reduce corporate tax and increase infrastructure
expenditure, you would expect this to create enormous
excitement on Wall Street. What I believe is that it
will take time for these policies to be implemented and
markets to see results, creating some short term volatility.
The markets will also be keen to see how President
Trump moves forward with managing relations with
China and Russia.
With all these factors combined, Intrust Super’s team
of investment managers are continuing to ensure our
portfolios are well diversified, can sustain any short term
volatility and, importantly, are constructed for strong long
The growing labour shortage issue is one of the
industry’s biggest challenges right now. The balance of
ensuring the hospitality industry continues to deliver
fantastic service, while maintaining a pipeline of recruits
that share the same values, is always going to be a battle.
An influx of inbound tourists to our incredible country
is likely to put a lot of pressure on the hospitality industry.
There’s quite a gap between the current labour workforce,
and the workforce that ’s needed to be meet the tourism
demand without compromising on customer service.
It’s all about looking at ways to change the dynamic
of the current workforce. Australian hospitality providers
already excel at delivering fantastic customer service.
Continuing to improve current training and recruitment
methods is critical for the growing industry. It’s a
challenge than can absolutely be met, and I’m looking
forward to seeing how the industry meets these demands.
There were already some great signs of growth for
Australian hospitality and tourism last year. I’m sure that
growth will keep rolling this year. Customers are always
looking for exceptional service, and there are a variety
of ways hoteliers succeed at delivering this. Whatever new innovations 2017 brings,
customer service will always be front of mind. I truly believe customer service will always
be critical to the success of any business.
Boutique hotels are rapidly on the rise as customers seek out new ways of experiencing
their travel, whether it’s business or leisure. Hotels are incorporating spas and yoga rooms,
and more attention is being paid to the kitchen offerings. The hotel restaurant is starting to
become one of the most important elements of an accommodation space.
Food in general is becoming a critical offering in the marketplace. There’s a growing
trend of establishments diversifying their offering with a range of different prices
and styles. Restaurants are increasingly able to cater to various groups of people and
demands. These are all very exciting developments for the consumer. Owners wishing to
diversify in different regions and brands, as well as leisure and corporate will surely see
great rewards come from their efforts.
We have always had a strong focus on innovation and customer service and this year was
no different. The introduction of the new SuperMatch2 portal, delivered members with an
instant view of all their super accounts and enabled them to instantly request consolidation.
SuperMatch2 is free for the member and delivers that real-time customer experience.
Members will know where all their super is kept and, when they combine their accounts, will
not have their total balance eroded away by unnecessary fees from multiple accounts.
We also introduced an industry first where it came to welcoming our members to the
Fund. We have done away with the plastic membership cards or even some sort of “App”
or digital card that members need to download. A member’s details are now sent directly
to their mobile device’s contacts list. Included is all the required legislative information as
well as their very own personal online member portal that we developed a few years ago.
This portal allows members to update their details to ensure their super never becomes
lost and can consolidate any known super accounts.
Intrust Super ended 2016 on a great note, with a win from Money magazine for the
Best Value Insurance in Superannuation. This is the fifth consecutive year we have won
this award and demonstrates our commitment to providing our members with excellent
insurance options. We were also awarded the Personal Insurance of the Year in the 2016
Rainmaker Selecting Super awards. All MySuper funds legally must provide default
levels of insurance. This means most workers pay insurance premiums without opting in.
That ’s why great value insurance in super is just as critical as investment performance.
SuperRatings also rated the Fund Platinum, meaning ‘Best value for money fund’, for
the 11th straight year. The research house also short-listed Intrust Super as a MySuper of
the year finalist for the second consecutive year.
MySuper is of course the product employers must have as their default super for their
employees. To be named as one of the very best funds for employers two years in a row is
a testament to the continued hard work of the Intrust Super team over the years.
Simply more innovation, and more ways in which we can help our members reach their
We’ll again focus on ensuring our insurance offering is still the very best value
in the industry, and our investment returns stay strong during this time of potential
The secret success of any business is high quality service, and it’s certainly one of
Intrust Super’s most important values. Whether it be helping with administration and
payroll, helping staff prepare themselves for retirement or ensuring employer’s legislative
obligations are all carried out, we work exceptionally hard to provide our employers with
fantastic customer service.
Superannuation is not our employers’ core business, so keeping the super process
simple is critical to improving relationships with employers. That ’s a key reason they keep
50 HM The Business of Accommodation
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