What is the definition of Annual General Meeting in the hotel industry?
An Annual General Meeting (AGM) is an assembly that is held every year to talk about the issue and concern, the anticipated solutions and goals facing an industry or hotel in the approaching year. It is also in this meeting that improvement is made and budgets are formed.
This meeting is done with higher organization, like a General Manager, a CEO, and/or the hotel’s owner(s) of the hotel. The General Manager usually goes over the goals of last year’s general meeting first, and then explains the intended goals for upcoming year. The meeting is typically held at the end of a hotel’s fiscal year, rather than the end of a calendar year.
During this annual meeting a hotels owner(s) gets the chance to be on the same page as a hotels CEO. This way a hotel owner, who may not be dynamically part of organization, has a chance to put into effect his/her vision for the upcoming of the hotel.