Harrah's: Core Values Are Key in a Crisis September 26, 2008
By Alexandra Haake
Concern about America's volatile financial situation hung over The Motivation Show this week. Yet many representatives from the incentive travel industry, including Amy Dosa, sales marketing manager for Las Vegas Meetings by Harrah's Entertainment, discussed rising travel costs and the unfolding financial crisis as opportunities more than challenges.
"Market conditions should not dictate how we operate," says Dosa. "Our core values are the same, our objectives are the same, and our role as a business supplier is to meet the needs of our customers."
Part of Harrah's strategy, according to Dosa, is to remain flexible and ask questions first, before trying to provide solutions.
"If your strategy is solid, it shouldn't really need to change that much in good times or in bad ones" Dosa says. She added that while "you always adjust and you are always fine-tuning," even major changes in outside circumstances would not throw off Harrah's fundamental approach to running their corporate meetings and incentives.
Dosa grants that Harrah's benefits from operating in a market that has been minimally affected by the economic crisis compared to others. "We are still in such a better position than a lot of other cities and a lot of other businesses," Dosa says. "I wouldn't be surprised if market conditions continue to impact our business, but for our second quarter of the year we are up year over year."
Much of Harrah's business books one or more years in advance. "We might see a bigger impact in the next couple of years when we start to feel the effect of slower booking now," Dosa says. For her, this just means that the company's salespeople have to work harder to get business by adding value for customers willing to book multi-year deals. Blocking in room rates and adjusting food and beverage minimums are just a few examples of how Harrah's remains flexible to retain business.
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