JMBM · 14 Jan
We have a new PPP Loan authorization bill out of Washington, after months of political wrangling. Congress could have done more, but they did provide for up to $2,000,000 in additional forgivable loans per borrower, along with provisions which specifically cater to the hospitality industry.
HVS · 11 Jan
A crisis is often needed to make drastic changes and the ongoing pandemic is one of the most challenging crises that the world has faced since the Second World War. The COVID-19 outbreak came in suddenly, swept across the world and changed us in an unprecedented way - not only our businesses but even the way we live.
Hotel Law Blog · 8 Jan
We have a new PPP Loan authorization bill out of Washington, after months of political wrangling. Congress could have done more, but they did provide
US Hotel Advisors · 8 Jan
It is obvious that hotel operating performance will be much better in 2021 than 2020. It is, perhaps, less obvious that hotel lending has already begun staging a comeback that will accelerate throughout the year while continuing to stay ahead of actual hotel performance.
HVS · 8 Jan
Like many people, I returned to my desk this week after the now-familiar five-second commute between the kitchen and my office at home and pondered what the New Year is likely to bring the UK hotel industry. By the time Boris Johnson started his TV broadcast at 8pm on Monday and Lockdown 3.0 had now commenced, any optimism we might have had was substantially depleted.
HotStats Limited · 7 Jan
Does a pandemic qualify for business interruption insurance? It's a question hoteliers shouldn't be asking themselves, but rather, their insurance company.
Hotel Mogel Consulting Limited · 7 Jan
Is COVID-19 the Armageddon for the hotel industry? That's the first question I asked Dr. Donald W. Wise, co-founder and senior managing director of Turnbull Capital Group. With over 36 years of investment banking experience in the hospitality industry, he and this firm have been involved in roughly $20 billions of advisory, consultation, note sales, preferred equity and debt placements, and transactional engagements on both the buy-side and the sell-side.
Hotel Law Blog · 30 Dec
See how JMBM's Global Hospitality Group(r) can help you. Click here for the latest on labor and employment guidance. As 2020 comes to a close, many e
Cayuga Hospitality Consultants · 29 Dec
In the world of forensic accounting there is a somewhat similar collection of cautioning indicators called Red Flags. Unfortunately for us, the Red Flag list is not limited to seven "sins". As you can imagine, for every hotel's control environment and operating structure the opportunities for Red Flags to emerge can be fluid, especially in the COVID-19 era we are operating.
The Hotel Financial Coach · 28 Dec
As you know the front office is the command post for your operation, and it's also the point where all the receipts come through. Making sure you have solid internal controls at the desk is not only good business, it's mission-critical. Without these safeguards you are wide open and as someone once said, good internal controls help keep honest people honest. Now don't get me wrong. I believe we need to trust the people we have on our teams, and I also have seen what can happen when there is an opportunity. So, this piece is about eliminating most of those weaknesses at the front desk.
Cayuga Hospitality Consultants · 25 Dec
During crisis times, the hospitality industry becomes fragile as demand is driven by guests. Conditions that affect guests also affect the business. As its nature, hospitality investments usually have longer return on investments, and sometimes detached investor profile as owning a hotel and operating it are two different practices.
Cayuga Hospitality Consultants · 23 Dec
Many hotel owners made quick decisions this past Spring to survive the uncertainty ahead. The need has never been greater to rethink what the optimal plan is to move forward in the fast-changing market. Don't assume that the current business model will still yield the highest and best use going forward.
HVS · 21 Dec
In the past few months, several state governments have been proactively lending a helping hand to the tourism & hospitality sector in their respective states, providing various relief measures to help the sector stay afloat during these trying times. Last month, in a move to reboot the sector, the Maharashtra government conferred 'industry' status to the state's hospitality sector.
Hotel Law Blog · 20 Dec
Most of the world has been anxiously waiting for the “silver bullet” of an effective COVID-19 anti-virus vaccine to save lives, reopen business, save
EHL · 16 Dec
As the world marks the one year birthday of COVID-19, it is reeling from the force of the first wave, battling the second and bracing for a third. Yet, the impact of this pandemic on the real economy (goods and services) remains uncertain. The "Great Lockdown" has resulted in a severe drop in economic activity during the first quarters of the year, but the most recent figures suggest that the economy has since significantly rebounded.
Hotel Law Blog · 14 Dec
Last week, the Department of Transportation modified the rules of the Air Carriers Act so that “emotional support” animals will no longer be permitte
The Hotel Financial Coach · 14 Dec
In this hard-hitting interview, you will learn what to tell your owner about how you're going to successfully manage their asset. What are the leadership strategies you will use to generate a superior return on their investment? How will you show up as the number one and instill confidence and lead your team around the money piece? If you're looking for the silver lining in all that is COVID in the hotel industry right now and getting your aspiring career back on track, then you are not going to want to miss this one.
Hotel Law Blog · 11 Dec
Due to the Covid-19 crisis, getting receivers appointed in many state courts may be difficult. Some state courts are effectively closed, others are b
EHL Advisory Services · 10 Dec
As with many other sectors, the banking and insurance industries have experienced tremendous changes over the past few years. Consumer demands, behavior and expectations have put pressure on these businesses to adjust, adapt and ensure that they remain relevant and helpful for their target customers.
The Hotel Financial Coach · 7 Dec
If you wish you could do more each day and you're open to looking at things differently, to consider there may be a stronger system to follow, perhaps this one is for you. Also, if you're a big fan of multi-tasking then YOU HAVE TO read this.
HVS · 7 Dec
All hotels strive to improve and reduce costs on an ongoing basis. During the normal course of operations, hotels try to achieve this by implementing various techniques, such as using alternate products, implementing process improvements, enhancing inventory management, and evaluating more efficient equipment, which allow them to save certain costs during the year. But the question here is whether these efficiencies are significant enough.
HotStats Limited · 3 Dec
Here's the bottom line..." It's a familiar turn of phrase that is succeeded by the speaker getting to the sum or crux of the issue—the overarching point.
The Hotel Financial Coach · 30 Nov
By someone's estimate there are roughly one million hotels in the world. I take it that number includes all the different kinds of hotels from small inns and hostels all the way up to your full-service multi-outlet mega hotel operations. For simple math I am going to estimate that half of this number of hotels fall into the small inns and hostels, and that leaves 500,000 of what I'm going to call real hotels.
HotStats Limited · 26 Nov
With the pandemic still raging and hotel operations still in flux, hoteliers are still left figuring out what to do next. Churning out profit in the age of COVID is a Herculean task, but consulting the right data can be a step in the right direction.
RAR Hospitality · 25 Nov
The hospitality industry has endured tremendous shifts and disruptions over the past year, forcing businesses to rapidly implement innovative trends that will reshape the future of hospitality.
In Extenso Avocats · 24 Nov
With an asset and liability guarantee agreement (Garantie d'actif et de passif, or GAP, under French law), the buyer obtains a contractual warranty for ensuring that the price it is paying matches the value of the company being sold. A post-sale tax adjustment or industrial tribunal proceedings in favour of an employee? A GAP agreement covers disputes prior to the sale, if these disputes were undeclared or if insufficient provisions were made for them.