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The Jon Taffer Podcast

The Future Of Hospitality ft. Stowe Shoemaker

The Jon Taffer Podcast

Jon Taffer

Entrepreneurship, Business

4.8602 Ratings

🗓️ 20 August 2020

⏱️ 60 minutes

🧾️ Download transcript

Summary

Stowe Shoemaker joins The Jon Taffer Podcast! Shoemaker is the dean of the William F. Harrah College of Hotel Administration at UNLV. Prior to being named dean, Shoemaker served as a Lincy Professor at UNLV and the Donald Hubbs Distinguished Professor at the Conrad N. Hilton College of Hotel Administration at the University of Houston. For many years he was a member of the executive education faculty at the Cornell University School of Hotel Administration, and for a time he maintained an appointment in the Division of Diagnostic Imagery at MD Anderson Cancer Center in Houston.In this episode Jon and Stowe chat about the future of the hospitality industry. With classes starting back up in the fall, now is no better time to look for a future in an evolving industry. Shut It Down with another amazing episode… RIGHT NOW! For more Jon Taffer, visit JonTaffer.com  Follow Jon on IG: @jontaffer  Follow Jon on Twitter: @jontaffer   Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Because we don't want to, in my view, we don't want to just waste money that we don't have when we know we can't survive, right? But if we really think long term, then we'll start marshalling our resources. Boy, so you and I agree completely on this. And this is the message that I've been trying to send out for months is that people think it's going to end next month. It's going to end next month. But it doesn't end. And that's when the well, we run out of powder to use your term.

0:03.9

And then we're in big trouble. So you got to hold some of the powder back so that you have the resources to seize it when the market's disruption starts to subside. And that's what worries me is that as an industry, we're disposing our resources now when we don't have the opportunity to dig out and we're going to run out of those resources.

0:43.0

So I really think that that federal government program now is very important.

0:47.3

I think the PPP program help our industry hugely.

0:50.5

I'm sure you agree.

0:52.4

Absolutely.

0:53.3

I think that there's some inventory credit programs from the feds tax-wise that could make a lot of sense.

0:58.3

Restaurants are going to have to invest substantially in inventory.

1:01.4

And certainly from the supply side, the farmers want us to do that and the distributors want us to do that.

1:06.6

So I think that that's really important.

1:08.7

And I think if the federal government stepped up with a revised PPP plan so we could get

1:13.9

some payroll stimulus and some type of an inventory credit to get us going, I think that it would

1:21.2

make a huge impact.

1:22.5

And I'm worried because they're not talking about these things now in Washington.

1:26.8

I don't want to share someone else's thoughts.

1:29.9

I want to create my own original thoughts.

1:32.5

I want to create my own original solutions.

1:35.3

I want to look at situations and come up with my own phrasing, my own words, and do it my way.

1:40.5

This is the John Taffer podcast.

2:02.5

Shut it down. Ooh, shut it down. We're just starting. Hello, everybody. Well, I'm still sitting in my house here in Las Vegas, but it's actually a pretty good week, Corey. Things are going pretty well. It is. It's just hot. Hot as hell. So it's about 115 degrees here. I drove to hit a strip yesterday, Corey, when I was down at the strip, the thermometer in my car said 121 when I was driving on the strip.

2:06.7

I mean, you're scared your car is going to break down at any moment.

2:09.2

You don't exactly drive around 120 degree weather with a lot of confidence.

...

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