Peter Greenberg Worldwide · 2 Jun
Read the full article on PeterGreenberg.com at - Bizarre State Laws You Should Know AboutMany of you might already be law breakers - a number of U.S.
Farazad Group Ltd. · 2 Jun
The rapid spread and the increasing transmission rate of COVID-19 has demonstrated how interconnected and globalised our world is. This pandemic has caused unprecedented health and economic consequences around the globe. The governments have implemented strict social distancing measures in their continuous effort to reduce the amount of world's population, which has been infected by the coronavirus and has currently reached over 3 million active cases globally.
Hoteliers need to be equipped with the most up-to-date and cost-effective business solutions available. Finding the right technology partner can be l
green lodging news · 28 May
McMenamins announced a $20 million Preferred Stock Offering to retire short-term debt as a result of the COVID-19 shutdown and to proceed on some “se
The Hotel Financial Coach · 25 May
Inside of the hotel company I worked for there has always been a constant movement to increase efficiency, especially inside the financial function. Not surprising, right? That’s what all businesses have done and continue to do, to evolve and ultimately outsource or eliminate seemingly needless, value lacking work. I was heavily involved in such a project that took me all the way to England.
Pimlico Asset Management · 22 May
Today's COVID-19 is without precedent and requires us to adapt very quickly to ensure business sustainability. The impact on the hospitality industry has been severe and forcing the closure of many hotels and restaurants due to a lack of demand.
HotStats Limited · 22 May
You wouldn't trust a doctor's mere intuition with your health, right? Of course not. You'd require testing and data. Operational benchmarking is the hotel industry's electrocardiogram (EKG), MRI, X-ray and ultrasound — the instruments that provide the cold hard facts. Isn't your bottom line worth it?
Global Asset Solutions · 21 May
Much has already been written about insurance issues arising from the Covid19 virus. With many hotels closed throughout the world it's inevitable that hotel owners/ investors are looking to their insurance policies for compensation under the Business Interruption section.
Cayuga Hospitality Consultants · 21 May
I wanted to share with you some thoughts I have around the potential unintended consequences connected with the necessary winnowing of hotels' finance and operational headcount. First and foremost, hotels had to take all steps necessary to stem their evaporating cash. Every minute counted. Many of these decisions resulted in reassignment of roles and responsibilities that under normal business operations would not be acceptable as it violated generally accepted internal control protocols.
Hotel Law Blog · 19 May
As California lawmakers release new guidance on easing stay-at-home restrictions, many employers are wondering how they can safely begin to reopen th
Global Asset Solutions · 18 May
An essay on the importance of trust and communication, during these days of COVID-19. As you're reading this, regardless of where in the capital stack you sit, you probably have a stronger than usual desire to know exactly what's going on with the underlying asset, the cash flow, the promised CapEx program, the debt covenant compliance, and how badly you mispriced your risk (you're not alone).
Hotel Law Blog · 17 May
Since the mid-1990s, lenders on hotels and resorts have generally required their borrowers to transfer the asset being financed into a “single purpos
Global Asset Solutions · 15 May
As hotel asset managers, we are able to work alongside hotel owners and operators to guide a hotels' recovery from COVID-19. We can use our expertise to guide and create a re-opening action plan, bring back the hotel's property value, and enhance communication between the owner and the management team. This article will outline the key areas where hotel asset management can come into play to improve and adjust your operations post COVID-19. Hoteliers, owners, you are not alone.
HotStats Limited · 14 May
COVID-19 has made breaking-even more tolerable than the alternative—going broke. It's not the hand hoteliers wanted, but it's the hand they've been dealt, forcing them to approximate at what occupancy rate they can operate their hotel such that cost and revenue are equal.
ASSA ABLOY leader Nicolas Aznar encourages hotel industry.
HVS · 12 May
With the advent of the COVID-19 pandemic in the U.S. in early to mid-March 2020, hotel owners and managers watched demand for their rooms suddenly evaporate. Since then, tough decisions have been made regarding whether to remain open or temporarily suspend operations. Hotels that have temporarily suspended operations now need to decide when to reopen. This article addresses the considerations to be weighed in this process and provides one example of the calculus for a hypothetical hotel.
CBRE Hotels · 8 May
The practice of asset management for hotels entering the third decade of the 21st Century has evolved into an intricate process of analyzing layers of data and operating results, and then acting based upon the conclusions. The process requires great focus. Asset management is the practice of managing the value of the owner's investment. And now that process becomes more urgent, but also more important than ever before.
Hotel Mogel Consulting Limited · 8 May
In a socially distanced world, one thing we are already seeing is far fewer in-person credit card transactions because people aren't out and about nearly as much. A lot of that traffic has moved online while some of it has shifted towards other types of less secure, card-not-present dealings like taking down a guest's information over the phone.
HVS · 7 May
HVS ANAROCK spoke about ancillary revenues in early 2019 and the concept of focusing on Revenue Per Square Feet at our HOPE conference again in Bengaluru in August last year - thus, initiating a dialogue with the industry on the concepts of Total Revenue Management.When the times are good, Ancillary Revenues seem very small and we let the opportunity pass by, as the effort does not add up to the return!
As U.S. hotels close or dramatically scale back business during the COVID-19 pandemic, it’s difficult to assess the value of a lodging asset that may
RAR Hospitality · 4 May
Welcome to the Twilight Zone or the surreal existence of those of us in hospitality with empty hotels. They are slowly and not so surely picking up but we will return to a "new normal" soon. What will it look like? The "light and warmth of hospitality," coined by Conrad Hilton, will not be apparent upon entrance to a hotel post COVID-19. Expect acrylic covered front desks, masks and gloves, signage advising guests to use caution, frequent disinfecting of public spaces, wide open lobbies with limited seating and restaurants and bars that have six feet of separation in every direction. The good news is that we are approaching the re-opening of the economy!
The Hotel Financial Coach · 4 May
Having been around awhile I have seen the changes that have come as a result of major global events. The starkest example is our pre- and post-911 world. It showed us that the idea of getting on an airplane means we need to prove we do not have any threatening objects with us, like guns, knives and explosives and we need to prove we are who we say we are. We even must prove we're not a threat and that we're on the right security list.
HVS · 30 Apr
A recently published article by several of my colleagues at HVS forecasts the expected pattern of decline, and the subsequent recovery, in the market value of hotels in the United States under "best case," "most likely case," and "worst case" scenarios. And while they further acknowledge a variety of factors that will also influence the ultimate value impact realized by a hotel under each of these scenarios, the decline in asset value under the "most likely" scenario is expected to average 26% in 2020, with 2019 market values not being fully recovered until 2023, at which time they are anticipated to surpass 100% of the 2019 market value.
BLLA · 30 Apr
Today's climate may present a new opportunity for the hospitality industry for those sitting with cash, or some form of available cash.
green lodging news · 28 Apr
The COVID-19 pandemic has impacted the hospitality industry around the world, leading to temporary leaves or significantly reduced work schedules for
The Hotel Financial Coach · 27 Apr
In the hotel business we need to be relevant and on top of the key issues that make our venture successful and ultimately sustainable in the long run. This piece is about how we can differentiate between expenses and investments to make sure we recognize the difference and make the best decisions for the ongoing health of our enterprise. Especially now that we are sidelined and looking for a new normal.