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  • HITEC Special: Revenue Strategy: Not Just a Fancy New Name for Revenue Management

    By Cindy Estis Green. A strategic view of revenue calls for proactive business mix planning and decision-making around deployed resources, well beyond reacting to what comes over the transom. Excerpt from the 2018 HITEC Bytes Special Report.

  • HITEC Special: Forecasting Accuracy: The Living Forecast

    By Jill Wilder. Forward-looking, continuously updated statistical trend analysis is emerging as a strategic tool that performs the practical magic of creating an accurate forecast you can take to the bank.

  • Members Only: IT Spending in the Lodging Industry

    HFTP Research Report: The new USALI Schedule 6 — Information and Telecommunications Systems and the effects thus far on the industry. An analysis of IT spending data in the industry and compliance practices by lodging executives.

  • Primary Club Metrics

    Survey results identify which metrics are most often used to determine performance. By Agnes DeFranco, Ed.D., CHAE; Tanya Venegas, MBA, MHM, CHIA; and Amanda Belarmino

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U.S. Airlines and Railroads Battle Local Laws That Require Them To Offer Sick Pay

skift.com - Destinations·23 June 2018
Paid sick leave for airline and railroad companies whose employees routinely cross state borders ought to be a matter of U.S. federal law. But don't hold your breath that national standardization of any kind will happen soon.

What asset managers want from revenue managers

hotelnewsnow.com Featured Articles·22 June 2018
It can be hard for revenue managers to divine how to fully please owners, but a panel of experts speaking during the HSMAI Revenue Optimization Conference said it often comes down to clear communication and finding a shared definition of success.

What do asset managers want?

hotelnewsnow.com Featured Articles·22 June 2018
Here’s a look at how asset managers and management companies can work together efficiently.

We must be better than this

hotelnewsnow.com Featured Articles·22 June 2018
It is time for us all to push our elected leaders into good-faith, aisle-crossing discussions about immigration so our government never again separates the families coming to our country looking for a better life.
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Lonely Planet to Investigate Racial Profiling in Switzerland

skift.com - Destinations·22 June 2018
By extension, we wonder if the same kind of travel warning should be issued for the United States.
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Labor Scarcity, Finance, and Innovation: Evidence from Antebellum America

Cornell University School of Hotel Administration - Research & Publications·22 June 2018
This paper establishes labor scarcity as an important economic channel through which access to finance shapes technological innovation. We exploit antebellum America, a unique setting with (1) staggered passage of free banking laws across states and (2) sharp differences in labor scarcity between slave and free states. We find that greater access to finance spurred technological innovation as measured by patenting activities, especially in free states where labor was relatively scarce. Interestingly, in slave states where slave labor was prevalent, access to finance encouraged technological innovation that substituted for free labor, but discouraged technological innovation that substituted for slave labor.
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Lodging Stocks Outperform Casinos on Wall Street, Reversing Their 1992-93 Performance

Cornell University School of Hotel Administration - Research & Publications·22 June 2018
A comparison of the stock market performance of lodging stocks and casino stocks over the past year reveals returns superior to the S&P500 for both groups. Over the 52-week period ending March 18, 1994, the average price of a sample portfolio of lodging stocks rose 61.6%, and a corresponding portfolio of casino stocks advanced 37.2%, compared with the S&P500's 4.6% return over the same period. The gain for lodging stocks represents a sharp rebound from the prior 52-week period, but a slowdown for the casino stocks. The strong showing of these stocks over the last year, as well as the changes in relative performance can be explained by an analysis of measures of fundamental value, such as the profit margin, return on equity, and return on assets, as well as structural changes in the industries. Interest in lodging and casino stocks by institutional investors is encouraging, but significant uncertainties, in particular with respect to taxation of gaming revenues and legalization of speci
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Aries Conlon Capital Closes $9.4M In Financing For Limited-Service Hotels In Goergia & Idaho

Hotel Interactive ·22 June 2018
Aries Conlon Capital is pleased to announce that the boutique commercial real estate mortgage and investment banking firm has closed on two, non-recourse, CMBS permanent loans totaling $9.4 million for the refinance of the Candlewood Suites Boise-Meridian in Boise, Idaho and the refinance of the Country Inn & Suites by Radisson in Buford, Georgia. The loans were closed in two separate transactions on behalf of two different borrowers.
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HVS Design and JN+A Release 2018 Hotel Cost Estimating Guide

Hotel Online·21 June 2018
HVS Design and Jonathan Nehmer + Associates (JN+A) are proud to announce the completion of the 2018 Hotel Cost Estimating Guide. The Guide is a comprehensive listing of capital expenditure construction and FF&E costs for hotel renovations in the USA.
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How hotels can mitigate their fraud risk

hotelbusiness.com·Requires Registration ·21 June 2018
Data breaches and security challenges have long been issues that the hotel industry has had to deal with. But with mobile check-in and other industry trends, this landscape is evolving—and that’s something hotel managers need to understand.
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Diversification is the name of the game for mixed-use developments

hotelbusiness.com·Requires Registration ·21 June 2018
The Fig, an approximately $400-million, seven-story project set to break ground here later this year or early in 2019, is the latest in a number of mixed-use developments that aim to reduce investor risk by diversification.
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Why the Real Estate Industry Needs More Equity, Less Debt

National Real Estate Investor (NREI)·21 June 2018
Prudence dictates that we prevent our industry from going backwards and losing the credibility that we have worked so hard to gain.
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Choice Hotels Signs With Four Raines to Develop Two Cambria Hotels in Greenville and Summerville, South Carolina

Hotel Online·20 June 2018
Choice Hotels International, Inc. (NYSE: CHH) has signed two agreements with Four Raines, LLC to develop Cambria hotels in Greenville and Summerville, S.C., both rapidly growing business regions. The Cambria Hotel Greenville and the Cambria Hotel Summerville are both slated to open in October 2019.

Crestline sees strong 2018 through fund, relationships

hotelnewsnow.com Featured Articles·20 June 2018
A new $300-million fund for hotel investment is just part of the reason Crestline Hotels & Resorts President and CEO James Carroll thinks his company is poised for strong growth in the face of a difficult macroenvironment for operators.

Revenue Strategy: Not Just a Fancy New Name for Revenue Management

20 June 2018
By Cindy Estis Green. A strategic view of revenue calls for proactive business mix planning and decision-making around deployed resources, well beyond reacting to what comes over the transom. Excerpt from the 2018 HITEC Bytes Special Report.
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Minor Hotels Acquires Stake in NH Hotel Group

Hospitality Design·20 June 2018
Minor International (MINT) has announced its recent acquisition of a 25.2 percent stake in NH Hotel Group as part of a two-tranche transaction with HNA Group.

Culture Is Stronger Than Knowledge

The Boutique Search Firm ·20 June 2018
We often hear of the General Manager who moves from Tucson to New York and finds her/himself completely lost the minute a union representative demands an audience. Worse yet, suppose your company promotes you, after 10 years in Seattle to Atlanta. Or from Provo to San Francisco.I am asked a number of times a week "what is like to live" in Georgia, Texas, Colorado, Utah, Louisiana, Massachusetts, New York, Illinois, New Mexico and many more. It is our job to know not only the corporate culture of the potential placement but the local culture of the potential city. There is no such thing as "the United States" when it comes to leadership and upper management. Large corporations are well aware of it, hence the "Irish promotions" they generously issue when they are looking to get rid of someone. One of your General Managers has never worked in a large city, raised all four of his children in Podunk, and has a wife involved with the local Junior League. You happen to know he owns a home in a depressed market and is accordingly "under water". But the man is not your favorite, and obviously you cannot terminate him. So you reassign him to New York-a city that is far far away, culturally, from Podunk. My prediction is that he will not last or will his marriage.When "expats" started being shipped around the world by the initial Big Three (InterContinental, Hilton International and Sheraton) back in the late fifties, it did not matter much who was shipped where: the General Manager of a global hotel had basically NO contact with the local population and was mostly a figurehead. Whether they were Austrian, German, Swiss or Dutch, as long as their English was fluent, they had no need to speak any other language: you could be the GM of the Istanbul Hilton for 8 years without having to learn or utter one single word of Turkish. In Africa (Cameroon, Senegal, Congo, Rwanda, Togo) the GM and their family often did not leave the hotel compound for weeks on end, and then mostly to be taken to the airport for an R&R flight*.Those days are over: you do not assign a General Manager, for example, who is Jewish to Muslim countries any more than Taiwanese executives are assigned to China.ACT GLOBAL, BUT THINK LOCAL?We have heard this for a number of years now. Yet I believe it requires some debunking. Take Ramadan as the most visible example of a cultural phenomenon in a very large area of the world. If, as the General Manager of a luxury hotel in Egypt, Qatar, or Bahrain, you do not try to understand the hardship fasting in 100+-degree temperature imposes on your staff, then you just do NOT belong there. Unless you learn that when Balinese say "yes" they often mean "no", you will not get much accomplish there either.Dealing with ownership, however is where a high level of understanding and diplomacy belongs: to a Chinese owner, a white round plate is just a white round plate. He can purchase or have them made for $1 apiece. The problem is, for you, there is a huge difference between his $1 plate and the $42 Villeroy & Boch plate you specified for your fine dining restaurant. Avoid featuring an "all you can eat" buffet anywhere in your hotel: within minutes half of the food will be on the floor and fights could erupt over shrimp.Owners in the Middle East often are interested in building monuments to themselves: as an architect, do not spend too much energy proposing a streamlined, purely elegant building: they will have so many change orders until it morphs into "La Mamounia meets the Candy Spelling Mansion" you won't even know what hit you. Give them what they want in the first place.Last but not least, do not go around, as a General Manager, with inflexible staffing guides and productivity indexes: what is no big deal in Houston or Minneapolis is an impossible goal in Istanbul.ACT LOCAL, THINK GLOBAL*Until very recently (it still exists in the worst of hardship destinations) senior hotel management would receive, as part of their benefit package, a once-a-year or twice-a-year R&R gift from their employer: 4 days in a major destination of their choice, including flights, hotel and food. Suppose you ran a hotel in Borneo, your R&R would take you to Singapore. Were you to run a hotel in Guangzhou, it would be Hong Kong.
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Can Advanced Technologies Ease Compliance?

CFO Magazine·20 June 2018
After a decade of improvements by compliance teams, artificial intelligence and machine learning could further streamline the function and tame costs.
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Supreme Court Prevents Successive Class Actions from Reviving Time-Barred Claims

Hospitality Labor and Employment Law Blog·20 June 2018
Our colleague Paul DeCamp at Epstein Becker Green has a post on the Wage & Hour Defense Blog that will be of interest to our readers in the hospitality industry: “Supreme Court Prevents Successive Class Actions from Reviving Time-Barred Claims.”
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Meridian Capital Group, New Nordic Group and Chandler Hotel Group Arrange Deals

hotelbusiness.com·Requires Registration ·20 June 2018
Hotel Business has been following transactions in the industry. Meridian Capital Group, New Nordic Group and Chandler Hotel Group made the list.
Article by Jim Butler

What do top hotel executives see on the horizon for 2018?

JMBM ·20 June 2018
Meet the Money is a productive conference with a casual atmosphere; the executives and other hotel industry representatives who attend often speak candidly about their expectations for hotel finance, development and investment throughout the upcoming year.The short video below highlights how some of our attendees feel about 2018--watch and find out what some of the industry's most well-known brands, banks, consultants, mangers and developers have to say about what's on the horizon.For more in-depth data and research, you can view our special presentations this year, including those from STR, HVS, LW Hospitality, City National Rochdale, and CBRE.One of our founding sponsors, Hotel Business, put together a great video during the conference that will give you an idea of what it's like to attend Meet the Money and includes my thoughts on the current lending landscape.Another longtime sponsor and important industry publication, HotelNewsNow.com, has an insightful summary of the important discussions our Meet the Money panelists and presenters touched on throughout the conference-their "Head-scratcher of the day" and "Quotes of the day" are especially interesting reads.Meet the Money 2019 will be held May 6-8 at the Hyatt Regency LAX--it'll be here before we know it. Registration will open later this year. Check MeetTheMoney.com for more details.
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Bitcoin Blockade: The Game-Changing Effect of Emerging Cryptocurrency POS Tech

Modern Restaurant Management·20 June 2018
Almost a decade in the making since the inception of Bitcoin and with a current market-cap hovering around half a trillion dollars USD, Bitcoin, cryptocurrency and blockchain have become common to the tech savvy. While most people don’t understand how they work, Bitcoin and cryptocurrency are not only hot topic buzzwords, but they’ve created thousands of multi-millionaires.
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HITEC: Hotel Owners Discuss Shifting Tech Landscape

Duetto Research Blog·20 June 2018
Hoteliers understand the importance of technology to the future of their industry and are looking for tech partners to ramp up innovation around a few key areas, they said Tuesday to open HITEC 2018 in Houston. In a general session titled 'Technology and the Power of the C-Suite,' a panel of executives from brands, ownership The post HITEC: Hotel Owners Discuss Shifting Tech Landscape appeared first on Duetto.
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Peek bags $23 million fund, claims building "OpenTable for activities" model

PhocusWire·20 June 2018
Cathay Innovation is leading a $23 million funding round into U.S.-based tours and activities platform Peek.
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New global role for Wyndham's Barry Robinson

hotelmanagement.com.au·20 June 2018
Popular hotelier Barry Robinson has been elevated to a new global role with Wyndham Destinations, following the company’s spin-off from the hotel group and listing on the New York Stock Exchange.
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Coliseum Capital Management and Vindico Capital Acquire RLH Corporation Shares Previously Held by HNA Investment Management

Hotel Online·19 June 2018
RLH Corporation (NYSE:RLH) announced today that funds and accounts managed by Coliseum Capital Management (Coliseum) and accounts advised by Vindico Capital have acquired 3.8 million shares of company stock previously owned by HNA Investment Management LLC. Following the transactions, Coliseum beneficially owns 13.4 percent of RLH and accounts advised by Vindico Capital beneficially own 2.0 percent of RLH.

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