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Spa Asset Managers Drive Revenue and Property Values

Hotel Business Review by hotelexecutive.com - 24 July 2017
Properly operated hotel spas provide an owner the opportunity to boost property profits while driving additional value through the implementation of robust Social Media and Public Relations programming, and the sale of incremental, attractive room packages. The question is: are you providing your spa with the support and experience necessary to achieve these objectives? Unfortunately, it is all too common for Hotel Spas to be underperforming in some, if not all, the above categories. If that is the case, a spa asset manager may be a worthwhile investment for your property.
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Wellness & Hospitality are the Frontiers of Today and Tomorrow

Hotel Business Review by hotelexecutive.com - 24 July 2017
The Global Wellness Institute (GWI) reported in January of this year that the global wellness economy is now a $3.7 trillion dollar marketplace with wellness tourism representing $563 billion slice of that healthy pie. And given the fact that wellness tourists spend more money than their average counterparts, the economics are quite appealing (see Figure 1.0). The spend varies in considerable degree by purpose of trip; a primary tourist, for example, seeks wellness as the sole purpose of his or her trip whereas a secondary tourist attempts to fit in wellness as part of business or leisure travel. Either way, while wellness trips account for 6.5% of all tourism trips, they represent 15.6% of total tourism expenditures, which certainly indicates a thriving market for wellness-driven hospitality.
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How Hotel Brands Can Activate Loyalty Data to Create Great Experiences

Hotel Business Review by hotelexecutive.com - 24 July 2017
When I travel for business, I often return to the same city frequently - and when I do, I usually check into my favorite hotel. No matter how many times I return to that hotel, however, the front desk agents always treat me as if it's my first stay. They acknowledge my platinum status, certainly, and welcome me by name. After that, however, the desk agent will ask for my photo ID and credit card - just as they did the last ten times I checked into the same hotel.
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FOCUS: The Rise of Hotel Opportunities in Argentina

Hotel Business Review by hotelexecutive.com - 24 July 2017
Though Argentina has always sparked interest from investors around the world, some of the economic measures and political scandals related to the party that held the power for a decade (until December 2015) did not represent the best scenario for international investment. The more recent election of President Mauricio Macri, undoubtedly represents an important task of rebuilding the Argentinian economy and restoring its international credibility. Macri, already in his short stint thus far as president, has partially succeed with inroads here, and as such has been given the honor to host the World Trade Organization meeting in December 2017 along with the G20 Summit in 2018. Both events will be held in Buenos Aires.
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How Does the Proliferation of Brands Impact Guests and Revenue Management?

Hotel Business Review by hotelexecutive.com - 24 July 2017
The hospitality industry is abundant with more than 270 hotel brands globally. Nevertheless, this whopping number is not stopping Marriott, Hyatt, IHG, and Hilton from expanding their portfolios with even more new brands. Theoretically, broadening the supply of brands is favorable for generating revenues from various distribution networks, loyalty programs and supply channels. But just how useful, helpful or even good is all this for the customer? Has the hotel industry gone mad by over-saturating the market with brands that are not all that different from each other?
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Key Considerations In Outsourcing Hotel Food & Beverage

Hotel Business Review by hotelexecutive.com - 24 July 2017
As my colleague, Michael Doyle, asked in his article Why should hotels outsource, or challenge a traditional operations model? The most common answer is to maximize profitability. Industry-wide, Food and Beverage revenue represents over 25% of total hotel revenue, yet generating a meaningful profit margin in F&B (which is difficult to measure with accuracy) can be challenging. In many hotels (particularly lifestyle and boutique hotels) F&B can be an integral part of the guest experience, and a large source of revenue (and maybe profit) for the hotel. But unlike other, less visible departments, outsourcing F&B can be more challenging, yet also more rewarding.
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Designing Menus That Balance Traditional Fare with Modern Dietary Needs

Hotel Business Review by hotelexecutive.com - 24 July 2017
The dining experience in the hotel and resort environment has been changing for decades. Gone are the days when most Americans eat meat and potatoes, and the occasional salad, for dinner. Immigrants from all over the world who settled into the urban areas of our country brought culturally significant dishes that opened up a whole new supply chain of ingredients, and introduced flavor profiles unfamiliar to the food scene. Before this cultural transformation, American families eating out seemed to be more interested in socializing outside of the home than in having a culinary experience. As new foods appeared on the scene, dining out became more focused on exploring new fads and flavors.
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Cultivating the Food-Focused Culinary Traveler

Hotel Business Review by hotelexecutive.com - 24 July 2017
As so many hotel owners and operators can attest, food-focused travel is on the rise. The trend is unmistakable: more and more hotel guests are selecting destinations and planning itineraries around regional, local, or even restaurant-specific food and beverage options. These guests, referred to as culinary travelers, not only make food and drink experiences a priority during their travels, they are often willing to go well out of their way to make those experiences happen.As so many hotel owners and operators can attest, food-focused travel is on the rise. The trend is unmistakable: more and more hotel guests are selecting destinations and planning itineraries around regional, local, or even restaurant-specific food and beverage options. These guests, referred to as culinary travelers, not only make food and drink experiences a priority during their travels, they are often willing to go well out of their way to make those experiences happen. Experience is the key word here. We are in an experience economy and consumers are placing a great deal of value on the F&B experience. Look at the trend in roof top bars for example. Ten years ago they were very rare, now they are an increasingly popular feature that owners and developers, including First Hospitality Group (FHG), are looking to include in a large percentage of new developments.
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Our Guests' Elevated Palates Means Revisiting Our Heritage.

Hotel Business Review by hotelexecutive.com - 24 July 2017
Our guests are as discerning as they are trailblazing, much like our founder and bon vivant Spencer Penrose. Catering to the taste buds and elevated palates of today often means revisiting our past. This rings true for The Broadmoor, because not only are we the longest- running Forbes Five Star, AAA Five Diamond resort in the country, but as stated by Executive Chef David Patterson, "What we're doing at the greenhouse, is the most romanticized version of being a chef. We are intimately involved in the process - from choosing the seed, to its germination and transplanting; harvesting the produce, then cleaning and serving it to our guests." Looking back with chefs and reimagining culinary history is a journey that has been prevalent in restaurants for some time now but is quickly gaining traction for the group sector.
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How to Integrate Trends in Fitness with Hospitality

Hotel Business Review by hotelexecutive.com - 24 July 2017
Today's best hotel and resort operators know that the lines between the commercial health club offering and the hospitality based fitness center are becoming increasingly blurred. A tremendous opportunity exists today for hotels and resorts to once again raise the bar and incorporate experiences crafted around trends that are presently driving the fitness industry. Hotels have long become sensitized to the fitness requirements of travelers, and more competitive in forming truly viable facilities for guests that crave their accoutrements when away from home. Although space allocation and supervised environments remain a common constraint, the diversity in equipment and thoughtfulness required to create an inspiring place to sweat can be effected most anywhere with the right planning. In the world of fitness, two significant trends are driving the landscape by which new facilities are born, and existing spaces re-imagined:
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The Scientific Way to Wellness

Hotel Business Review by hotelexecutive.com - 24 July 2017
At Viceroy Zihuatanejo, in 2015, I began forming a new vision for our resort spa to help guests achieve true wellness. I knew we needed to offer much more than just providing traditional spa treatments and services because achieving true wellness would require a resilient attitude and rejuvenating lifestyle to help balance our guests' physical, mental and spiritual energy. In other words, true wellness encompasses an on-going vibrant, stress-reducing way of living that leads to happiness and contentment. I also realized that just dispensing healthy facts would not necessarily lead guests to adopt healthier, wellness-oriented lifestyles. Instead, guests seeking wellness would need to feel inspired and empowered as well as being educated.
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Creativity and Science Have Merged on Hotel Menus

Hotel Business Review by hotelexecutive.com - 24 July 2017
When Chefs create menus, we look at many different parameters and angles of how to design a dish, and how to group those dishes into a menu. We look at what is new or exciting, or, what is old and forgotten about which may be "resurrected". We look at seasonality, colors on the plate, quality of the ingredient, trendiness of an ingredient, or uniqueness of a preparation or combination of flavors. These are not mutually exclusive, and they all can play into each other. Chefs sometimes bounce these ideas off of the guests who are dining with them, as "experimentation" whether they admit it or not! Some of these fail, and some take off with such fervor, that they can become national trends. Many recent trends have been successfully focused on artisanal ingredients or old-world preparations. So, what does it mean to use these hybrid, artisanal or old-world ingredients, and are we being true to them?
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Separating Group and Local Banquet Sales

Hotel Business Review by hotelexecutive.com - 17 July 2017
If your hotel has a reasonable amount of meeting space (+10,000 ft) and your banquet business is a significant contributor in your Food and Beverage Department (+20% of F&B revenue), you are going to want to separate local banquet business from group banquet business on all of your financial statements, forecasts, budgets and daily reporting. At this moment you may be asking, "Why would I want to do that? That sounds like a lot of work."
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Are you Prepared to Handle an Emergency Spill Response?

Hotel Business Review by hotelexecutive.com - 17 July 2017
With the summer storm season upon us, it's especially important for hotels to be prepared for hazardous waste emergencies caused by severe weather. Preparation for such events is crucial for safely and compliantly handling emergency spills.
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Key Drivers of Hotel and Resort Spa Profitability

Hotel Business Review by hotelexecutive.com - 17 July 2017
The global spa movement, which includes wellness tourism, amounts to upwards of $3 trillion dollars per year. What physical and strategic elements are key to driving bottom-line performance at traditional and wellness-focused spas? Relaxation and a sense of wellbeing are at the heart of the spa and wellness market. Hence, it's no wonder that hotels, resorts, and spas have begun to reorganize their operations around wellness. The benefits, in the form of a stronger bottom line and appeal to demand segments, extend not only to guests but to hoteliers and hospitality companies, as well.
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How the East and West Work Together to Expand the Hotel Spa Market

Hotel Business Review by hotelexecutive.com - 17 July 2017
In the last decade, we have seen an increased willingness of hospitality and spa companies to cross geographical and cultural divides and move into markets outside of their traditional regions. It is really a function of and a result of globalization, which is impacting all business sectors. One geographical jump that seems to be getting a lot of attention these days is the Asian hospitality market. Big investors in the East are diving head-first into the Western wellness boom by buying landmark spa properties in the United States, recruiting top executive talent to lead their spa divisions in Asia, and integrating their traditional spa modalities with modern wellness culture.
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Science-Based Spa and Wellness is a Key Feature for Guests in Bali

Hotel Business Review by hotelexecutive.com - 17 July 2017
Many luxury, five-star beach resorts on the world-famous holiday island destination of Bali put their spa and wellness services and facilities as among their top features. Many also promote their spa and wellness features as 'one-stop' retreat highlights, with all-round spa-and-stay packages available, tailored to cover the essentials, ranging from health-conscious dining (oftentimes with calorie counts and other nutritional aspects taken in), various fitness and recreational activities to be had on the resort grounds, with treatments at the resort's dedicated spa facility or onsite beauty clinics. The trends in spa and wellness have recently gone further with science-based aspects included.
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How to Turn the Well-Being of Your Guests into a Viable Indicator of ROI

Hotel Business Review by hotelexecutive.com - 17 July 2017
Wellness tourism not only drives revenue, it is a required service for any luxury property. Total revenue for the spa industry surpassed $16 billion in 2015 and is anticipated to exceed $20 billion by 2020. Further encouragement, a recent ISPA study showed that 56% of millennials have visited a spa within the last year; never have we seen a demographic so involved in wellness. Guests are savvier when it comes to healthy hotel concepts and hold higher programming expectations. Thus, as the hospitality industry commits to developing wellness platforms, the rewards of investing in guest health far outweigh the risks.
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Is Personalization Travel's New Super Power?

Hotel Business Review by hotelexecutive.com - 17 July 2017
For successful tech companies building a solid and loyal customer base is far less about trusting your gut than having the right data and testing and learning from it. Flattened company hierarchies are also seen as important in getting the best from teams and, as a result, building more successful customer relationships based on personal preferences. So in a turbulent and highly competitive market, should hotels should start thinking more like tech companies to take back control?
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Encouraging Children to Connect with Wellness

Hotel Business Review by hotelexecutive.com - 17 July 2017
My parents, in theory, had it easy. Keep me safe, clean, make sure I ate my vegetables - back then not an easy task, and you pretty much had the recipe for a child that would grow-up fit and healthy. My sphere of influence was limited to school, friends, family and electronically a TV with three channels and limited programs, even periods of time when nothing was aired. Compared to today, the external influence on children now deemed generation X was miniscule. Skip forward and we now have reports that say Millennials growing up in the socially-networked world, are the anxious generation(1). This hindsight has, in part, created the demand for greater understanding of how children are affected by societal influences.

Lifestyle Medicine: Friend or Foe of Hotel Development?

Hotel Business Review by hotelexecutive.com - 10 July 2017
May I start with a very bold analogy? One designer recently suggested that the hype about retro in fashion means nothing less than designers do not have any progressive forward looking ideas, with nothing else to do but recycle what was old, and claim it now to be something new, innovative and exciting.
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The Future of Hotel Spas

Hotel Business Review by hotelexecutive.com - 10 July 2017
The hotel spas of today are not that different from the spas that first started appearing in hotels back in the mid to late 1990's. Initially, these facilities were intended to cater to the higher end guest in search of some pampering and a little extra luxury when visiting a hotel for leisure purposes. 5 Star hotels at the time were really all about luxury and pampering, so spas were a good fit. But it wasn't too long before spas started to find their way into city hotels and then eventually on into the 4 Star market.
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A Platform Approach to Feedback

Hotel Business Review by hotelexecutive.com - 10 July 2017
When does a hotel customer become a "guest"? Is it at the point where they book a reservation? The moment they walk through the doors into the lobby? Somewhere in between? Our team at TrustYou set out to identify the guest experience through the lens of guest communications, running a survey and observational study that encompassed nearly 1,000 participants. We identified the likes and dislikes of these guests. Along the way, we found some very interesting numbers relating to how travelers like to communicate with their hotel, and how these communication methods impact satisfaction levels.
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Is Your Hotel Spa Ready for Spa Science?

Hotel Business Review by hotelexecutive.com - 10 July 2017
Wellness is what we provide, but now the science behind it is what people want. Welcome to the second phase of the Wellness Movement: Science. Science is a systematically organized body of knowledge on a particular subject. So, what does this mean to the hotel spa? It means we better know what we are talking about. No longer can a spa front desk concierge get away with only describing the Wellness Massage as "relaxing" and "therapeutic". This information does close to nothing in terms of educating and enlightening our guests.
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The Battle of the Bay

Hotel Business Review by hotelexecutive.com - 10 July 2017
Managers at Hyatt Regency San Francisco had a battle on their hands - in the best possible way. Determined to do something fun and healthy for their 400 person staff, they launched a challenge on a digital platform that powers fitness tracker-driven wellness programs. The first challenge was so successful, two other Bay Area Hyatts wanted in, and the Battle of the Bay was on. In the end, co-workers at all three properties rose to the occasion, but just one hotel took the gold. It also became clear which person at a major market hotel moves the most.
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What C-Level Executives Need to Know About Total Hotel Profitability

Hotel Business Review by hotelexecutive.com - 10 July 2017
If attaining guests through loyalty programs, personalization and the provision of choice is the hospitality industry's Holy Grail, then profitability is the infinite abundance it promises. When it comes to achieving higher degrees of hotel profitability, nothing provides more opportunities for the incorporation of these elements than an intelligent revenue strategy. While a hotel revenue strategy doesn't lend itself as the panacea to every organizational crossroads, it does provide hotels with a way to profitably navigate through the unpredictability of economical and geopolitical climates, natural disasters and terrorism. This is in addition to finding profitable success in hypercompetitive online environments prone to fluctuating markets and intensifying competition. Strategic revenue management is also recognized as an important component to increasing asset value, attracting investors and improving overall operational efficiency.

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