PR 2.0 · 10 Jan
Two-thirds of people are losing sleep every night over financial anxiety. Eric Weiss, SVP Growth and Performance Marketing, and the team at Personal
HVS · 8 Jan
A big question currently facing the hotel industry is how to keep guests, employees, and data safe in our increasingly connected world. While mobile technology provides a vehicle for much of the progress, it can also provide the security methods needed to safeguard them in the form of mobile-based biometrics.
simonepuorto.com · 7 Jan
Last month, I flew to Prague to meet a few clients, and, before leaving, I stepped by HotelTime Solutions offices to say hi. While I was desperately looking for a vegetarian-friendly restaurant (with not much luck, I should add), Jan Hejny, CEO, and co-Founder of the company joined me in this heroic quest. The following is the transcription of the long chat we had on cloud systems, IT, GDPR, and data breach.
HotStats Limited · 6 Jan
Average daily rate (ADR) is one of the most popular revenue metrics in the hotel industry. A key contributor to revenue per available room (RevPAR), it allows hoteliers to zoom in on how much a room is selling for on average and, typically, RevPAR growth driven by ADR is more profitable than RevPAR growth driven by occupancy, since the latter increases the variable costs associated with servicing additional rooms. Driving rate, meanwhile, doesn't have a cost attached to it, and, essentially, results in pure profit.
Hospitality Technology Magazine · 31 Dec
Congratulations on becoming an enterprise cyber security leader. What does it take to not only survive but thrive in this role? Cyber Security Hub en
Xotels · 23 Dec
It has been a while since we covered this topic, so I thought it would be good to have another look at forecasting in hotels. With reservation lead time changing in key markets we operate in, it is becoming more challenging to forecast accurately.
HotStats Limited · 20 Dec
Data is king, but futile if you don't know how to best interpret the numbers. Asking yourself, "What's the best way to analyze my data?" is too broad and only adds to the confusion. A better approach is to start by setting goals for your analysis. What specific information do you want to extract from your data?
Benchmarking, according to Wikipedia, "Is the practice of comparing business processes and performance metrics to industry bests and best practices from other companies. Dimensions typically measured are quality, time, and cost."
CBRE Hotels · 17 Dec
Despite the relatively high cost of construction and complexity of operations, developers are still attracted to owning and managing luxury hotels. As of August 2019, STR reports that just 0.7 percent of the hotels (2.3% of rooms) in the United States are chain-affiliated luxury hotels. Concurrently, the STR pipeline report shows that 1.2 percent of the properties (2.9% of rooms) either under construction or planned for development meet this criterion.
Revenue Your Hotel · 14 Dec
Your property's bottom line is defined and measured for success if you as the property revenuemanager implement a good revenue management strategy with the help of other departments inyour property. The strategy of implementing good revenue management has been tried andapproved of success is true through the regular revenue management measurement, but there isanother and more efficient way to influence your property's yields. We call the strategy profitmanagement which determines a property's net revenue after taking into consideration the costsof acquisition by channel, opportunity costs, and target audiences.
HVS · 13 Dec
HVS was the Platinum Sponsor for the 2019 Western Canadian Lodging Conference (WCLC) that was held in Vancouver on November 25 and 26, 2019. The event welcomed more than 400 delegates, the highest attendance in the history of the conference. The main takeaways from the conference are briefly summarized in this article.
Cayuga Hospitality Consultants · 11 Dec
Over the years and in various roles I found myself in serious disagreements with a brand's development and hospitality feasibility group.
Hotel executives realize that knowledge is the most strategic factor for empowering the capabilities of a hotel and improving its competitive advanta
EHL · 3 Dec
LVMH is to acquire Tiffany & Co. for $135 per share, in a transaction which will value the entire equity at $16.2 billion. Including net financial liabilities of $0.7 billion, this leads to an implied enterprise value of $16.9 billion for Tiffany, making this the largest acquisition ever made by LVMH.
HotStats Limited · 3 Dec
The hotel industry has long been obsessed with revenue. But if you care about a hotel's operational health, relying on revenue alone only tells one chapter of the whole story.
The Hotel Financial Coach · 2 Dec
Being a branded or franchised hotel is an expensive endeavor. Especially when you consider the average agreement is 20 years in duration and you're on the hook for the fees outlined in your agreement plus anything else the management company throws at you.
Revenue Your Hotel · 29 Nov
Long-time ago for hotel industry performance analysis, there are two simple traditional indicators were used: ADR (average room rate) and the percentage of occupancy. Then with the progress of yield/revenue, management RevPAR (revenue per available room) started to be the main indicator, because it reflected how efficient the hotelier could manage occupancy and price at the same time, depending on demand.
Hotelivate Private Limited · 26 Nov
As a hotel consultant, I am often asked a pertinent question: Do hotels make profits in India? The challenges in building, operating, buying and selling hotels are a plenty. Investors frequently point to the relatively lower risk associated with other commercial asset classes such as office buildings, retail developments and warehouses. The highly dynamic and perishable nature of the hotel business pushes them to question the very veracity of it.
HVS · 26 Nov
The HVS U.S. Hotel Franchise Fee Guide provides a comparative review of various hotel franchises based on their applicable franchise fees. The selection of an appropriate franchise affiliation affects a property's ability to compete in its local market, generate profits, and achieve a distinguished image and market orientation. Because the success of a hotel is based primarily on the cash flow generated, owners and lenders must weigh the benefits of a brand affiliation against the total cost of such a commitment.
HVS · 25 Nov
HVS continually tracks the rates of return on the assets on which we consult. In our most recent review, we found that equity yield rates, on average, have shown a continued trend of decline in the full-service and luxury hotels sector, as well as the lower-tier limited-service sector, with the select-service and upscale limited-service sector showing stability.Equity yield rates were notably lower for full-service and luxury hotels, averaging 16.4% for the year-to-date 2019 period, which is 140 basis points (bps) below the 17.8% most recent peak level recorded in 2017.
HVS · 22 Nov
The most consistent issue HVS Brokerage & Advisory has encountered during transactions is whether a group is budgeting sufficient capital for prospective asset acquisitions that require PIP renovations. An incorrect estimate means buyer groups must increase their capitalizations or request a price reduction on a dollar-for-dollar basis relative to their cost increases. This ultimately changes many metrics late in acquisition processes and lowers IRRs because any extra capital is drawn entirely from equity and not a blend of equity and debt. Recent observations are detailed below. The lesson is that accurate PIP estimating is vital in successfully acquiring hotels today.
CBRE Hotels · 19 Nov
Because federal government employees purchase a significant quantity of hotel rooms, the General Services Administration (GSA) has partnered with Federal Travel Regulation (FTR) compliant accommodations to provide federal travelers with per diem hotel room rates for select high-volume travel destinations in and outside of the Continental United States. These federal guidelines frequently serve to determine the hotel per diem allowances for state and local government travelers as well.
Legislation is being passed worldwide that seeks to protect consumer privacy; most notably, the California Consumer Privacy Act (CCPA) and European U
The Hotel Financial Coach · 11 Nov
Food cost is a never-ending battle in a war that does not end. You can never take your foot off the gas, if you do you will slow down. When you slow down in the food cost world it is costly. Back in the day I cut my teeth as a receiver, F&B cost control clerk and ultimately an F&B cost controller.
HotStats Limited · 4 Nov
Tracking the evolution of key performance indicators (KPIs) over time allows hoteliers to identify meaningful trends, create forecasts and budgets and assess the results of different strategies. To perform this kind of analysis, data has to be recorded within consistent time intervals and in chronological order. This is known as a time series.