Several years ago, Marriott executives determined they were letting revenue walk out the front doors of their Courtyard hotels, which are tailored to frequent business travelers, or “FBTs.” At the time, Courtyard’s breakfast offering was the full-service buffet, familiar to almost anyone who has ever stayed in an American hotel, and their lunch and dinner offerings were negligible.
The midst of the worst recession in decades may seem like a tough time to take the reins of a restaurant company that sells discretionary treats not needed in the everyday diet. However, Nigel Travis, whom Dunkin’ Brands hired to head its Dunkin’ Donuts and Baskin-Robbins brands in January 2009, quickly showed he was up to the task.
There was a time, not that long ago, when customers lined up in droves to get a hot Krispy Kreme glazed doughnut. People clamored to purchase franchise rights and throw open the doors as quickly as possible. Life at Krispy Kreme was looking up.
Until everything came crashing down. Stores started to struggle, lawsuits popped up, and U.S. Securities and Exchange Commission investigations were launched.