Windy city workforce

This department spotlights a relatively recent addition to the workforce, focusing on the person’s educational or working background, daily responsibilities, challenges, passions, frustrations and outlook for his or her future in the field.

Name: Michael D’Amico
Age: 39
Title: Independent hotel development and operation consultant
College Path: Accounting degree from the University of Notre Dame; MBA from Indiana University

How you ended up here: I developed an understanding of the extended-stay hotel guest (who stays one week or more at a hotel), drivers that affect demand for the extended-stay product and extended-stay hotel operations by working in the industry. After being laid off a few years ago, I decided to utilize these skills by offering consulting services to hotel owners who are new to the industry. I fell into this gig.

How long you’ve been at it: Officially, over five years. My clients include franchisees of Marriott Residence Inn and Town Place Suites, Extended Stay Hotels, Candlewood Suites and Value Place. Value Place is the newest and fastest growing brand in the industry, as they have created a concept called a “short-term residential property,” or STRP (no, not a certain type of disease!). These hotels are basically 120-unit apartment buildings run like a hotel.

Who you answer to, if anyone: I answer to my clients, of course. As an advisor who develops and implements investment and operational strategy for ownership groups, I am hired to provide analysis for investment decisions and recommendations for improving extended-stay hotel operations. My batting average on whether moves work out or not is constantly calculated by both my client and me.

Hours you expect to be at work: When I am on the road (2-3 days per week), I usually work 12-hour days. Because my job is to understand a market from 30,000 feet and from in the weeds, in-market research can range from examining building permits to meeting with the economic development department of the city to looking through competitive hotel parking lots at night to get an idea of who is staying there (guests’ cars give us a ton information — and they are in the lot at night!). When I’m not on the road, well, let’s just say I don’t work 12-hour days.

Breakdown of what people anticipate from you: My clients expect me to give them unbiased analysis and recommendations. Period. That comes with being “independent,” as my main goal is to assist the client in making sound operational and investment decisions. Additionally, my analysis is often used as part of the prospectus to gain funding. Some of my meetings begin with me stating, “You may not want to hear this because you really want to make an investment in this city, but here is what I have found…”

What your friends assume you do all day: My friends have a pretty good idea of what I do. They probably don’t realize how much compilation of data and investigation work that I do, as I don’t discuss too much about investors’ potential moves. My work stories usually revolve around weird hotel management or guest mishaps that, at least, I think are funny! When in town, they definitely know I can work with a cup of coffee at Starbucks, hit the gym at off times, and I am never annoyed with a commute.

The hotel industry is a lot like... the fast food industry. Consumers expect the exact service levels at hotels within a certain brand, and the brands work very hard to maintain consistency. They are trending toward not being concerned with upgraded services, as much as just getting what they expect for the price they are paying.

Best perk: Traveling to small(er) town America. Believe it or not, I enjoy getting to know the ins and outs of Lincoln, Neb., or Greenville, S.C., as much or more than in my past career, where I was traveling to the big cities. Going to the best BBQ joint in Columbus, Ga., is a lot of fun and a cultural experience! Most cities I travel to also have a minor league baseball team, so I get my fix of baseball on the road during the season.

Finding the right fit for an entrepreneur can be... tricky in the hotel industry, as certain entrepreneurs are more hands-on operators, others want to develop and build, and yet others want to merely finance development. A deep understanding of, not experience in, the hotel industry makes the road smoother because of the cost structure and start-up demands in this 24/7/52 industry.

I have trouble dealing with… city officials or constituents who do not understand that their best way of ultimately getting a hotel owner to build in their city is to provide information, and lots of it. Usually, they immediately want to introduce me to the elected officials who have a vested interest in having a new hotel built in town.

I know it’s a good day when... I get an unsolicited call from an investment group owner who starts the conversation with, “We have been referred to you by so-and-so, who you have done work for in such-and-such city…” Obviously, these calls do not come in unless I have provided value to the client who referred the person on the phone, and my business depends on these referrals.

Why you have a smile when you come to work: I don’t! But, I might have a smile when I come home from work because I work with and for people who generally have not made multi-millions and are utilizing their hotel developments to do so. They talk about paying the bills — they are not doing this as a hobby! One of my clients pointed to his Chevy Tahoe and told me he works because of that. I told him the car couldn’t be that taxing on his bottom line. He further explained he works for the three kids that ride in the car that he will be putting through college soon. That drove the point home to me. My clients have a lot on the line, and I like working in that setting.

If I owned a hotel franchise, it would be located in... TN, GA, NC, SC, AL or MS. I’m talking an extended-stay hotel here. The population of America is like a freshly poured Guinness — it is extremely dense in the south, and it is slowly becoming more dense from south to north. These states are experiencing a population boom, which brings in corporate money and the need for extended-stay hotels.

People will always travel because... they want to be employed. I approach this from an extended-stay hotel angle, which serves many traveling professionals from businesspeople to contractors. We’re in a service-based economy, and service employees tend to travel. In fact, many who utilize extended-stay hotels travel full-time and have no home base.

What might you change if given the chance? Even though it’s only 2-3 days/week, and to small-town America, I’d like to travel less. Travel is always a hassle, and mid-week is fun in Chicago! I have actually been working on this by taking on project work that can be done from Chicago and have begun to work with a couple of clients in Chicago. In the industry, I’d like to see the “Handicapped” label changed to “Accessible” on those rooms that are accessible. Small point, but not a small point to those who utilize the rooms.

Where can you go from here? I can work for hotel operating companies directly (which I have done in the past), work for development groups directly, or put together an investment group myself. Oh, yeah, along with operating a working ranch in Montana (the option I think about when stuck on a runway in say, Tallahassee).

Advice for joining the field: Become an expert in one niche and slowly broaden your expertise. You will be respected for the work that you do as an expert, and therefore, gain more business. This ultimately will put you in the position to learn from industry professionals and gain knowledge that isn’t contained in a course or a book!

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