Summary of The New Gold Standard

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The New Gold Standard book summary


7 Overall

8 Applicability

5 Innovation

7 Style


Even if you’ve never stayed at a luxurious Ritz-Carlton hotel, you are likely to know of the hospitality chain’s sterling reputation. Few companies enjoy such powerful brand recognition; after all, the word “ritzy” has become part of the English vocabulary. Incredibly, no one ever wrote a corporate biography about The Ritz-Carlton, and its secrets of success and service, until Joseph A. Michelli took on this project. He details the five principles Ritz-Carlton employees follow to create a memorable, or “wow,” customer experience. He shows how the company’s leaders teach the “Ladies and Gentlemen” on its staff to live its mission and precepts. Michelli uses quotes and examples to illustrate every point (and is still supporting his position long after the reader’s neck is sore from nodding in agreement). Yes, it really is all that. getAbstract believes this book offers any businessperson a valuable case study in excellence and service.

In this summary, you will learn

  • How Ritz-Carlton remains a world leader in the hospitality industry
  • How five guiding principles mold the experience the hotel chain gives its guests
  • How the “Ladies and Gentlemen” who work for Ritz-Carlton practice its service creed

About the Author

Joseph A. Michelli, Ph.D., wrote the bestseller, The Starbucks Experience. He is an international business consultant, radio host and lecturer who appears on CNBC’s On the Money.



How The Ritz-Carlton Began
Who could have imagined that a poor Swiss herdsman’s son would start a hotel chain that would make his name synonymous with elegance, luxury and extraordinary service? Young César Ritz began by working at premier hotels in France, England and Switzerland, learning...

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