Pros
They hire people with very little experience for substandard wages. This is a good way to get experience in the hospitality industry. They often hire people who are not qualified for their jobs and with little or no experience. Once you get in you will make a lot of mistakes and get none to very little support but you can really learn alot about the industry. It is very sink or swim and tons of overwork but you can really move up quickly as people leave the company for better paying jobs at other companies. This can allow you to get some great experience and move up the ladder more quickly.
Cons
They tend to use up people. People are constantly moving on to better paying jobs at other companies. This means that there are often voids in staff and they expect others to pitch in and get things done. It is a constant situation of understaffing. Since they don't offer standard rates of compensation positions go unfilled for long periods of time. There is not sense of urgency until the owner of the company or an investor needs information. Often the company does not pay for adequate systems or doesn't plan so after investing the minimum they have to "redo" or they run out.