Cogwheel Marketing · 16 Oct

Here are some must-have digital marketing items to include and how to think through that process. Note fro branded hotels: be sure you understand what the brand does for you, and what you need to handle at the hotel level. The brand sets aside funds for branding but generally does not make its way down to promote specific hotels. For Marriott, you have the option to opt into Marriott Digital Services. If you are a Hilton, you are automatically enrolled in Hilton Advance and can opt into Hilton Amplify and Elevate.

apaleo GmbH · 14 Oct

Unless you're living a version of The Truman Show, you've seen the word recession floating around the web-o-sphere recently. The Marriotts and Hyatts of the world have been noticed using words like caution in light of the potential for the U.S., Britain, Germany, Japan, and Brazil to see a recession as soon as 2020. Further, North American hospitality and leisure CEOs are reportedly showing a decline in their confidence about revenue growth, according to PwC (AdWeek). From Brexit to various trade wars, to protests in Hong Kong, there's plenty to be concerned about. But don't panic; studies show that's a bad move. It's most important to start thinking carefully about how to handle a downturn in business if it comes.

The Hotel Financial Coach · 14 Oct

The Stow has always been a great hotel. Sitting high on the hill overlooking the river its bones and lines are completely classic. The 505 rooms all have a view of something great. For decades, the hotel had been the home away from home for the elite of the world. Rock stars, heads of state, actors, CEOs, you name it and they came, stayed and came back. Managing the hotel was a dream job. I never thought I would have the opportunity to be the general manager of such a fine lady. We call them ladies because they are gentle and beautiful and just a little complicated.

Cayuga Hospitality Consultants · 14 Oct

The Uptrend Is Ending, Now What? Most people don’t see all the obstacles a hotel owner faces once their hotel revenues start declining; such as if the next travel recession strikes or new hotel competitors enter the market, cash flows fall, and tensions rise.

Cayuga Hospitality Consultants · 11 Oct

Nearly $4,000,000,000,000 (trillion) dollars were lost from businesses around the world due to fraud in 2016. The typical organization loses 5 percent of revenue each year to fraud.

HotStats Limited · 10 Oct

Revenue per available room, or RevPAR, has historically been the most widely used metric for benchmarking performance in the hospitality industry. Its success as a key performance indicator or KPI is the result of its efficiency and simplicity. RevPAR is efficient because it combines the results of both occupancy and average rate into one number. And it's simple, because all you need to calculate it is occupancy and average rate:

Cayuga Hospitality Consultants · 9 Oct

Disasters are inevitable. So, do you know what reports you will need to determine lost revenue after a disaster? From a hotel owner perspective, coming up with fact-based hotel projections for lost revenue in the event of a disaster will ensure smooth discussions with your insurer and moving on with rebuilding your business as quickly as possible.

The Hotel Financial Coach · 7 Oct

Just like your auto mechanic checks your car's health you can completely review your hotel's financial performance and get a clear reading on as many as 21 different flow thru performance points. Further to that you can even see what you need to do in most cases to correct the results! It's what I call super revealing. And, the best point is you don't need anyone's help to do it because I'm going to give you the list! Flow thru is an essential concept to understand. If you are new to the idea read, my blog on flow first. https://hotelfinancialcoach.com/flow-through-understanding-how-it-works-and-how-to-include-flow-thru-in-your-financial-statements/Checking performance is a step-by-step exercise and we start at the most vital points. Failure to do this analysis is a costly error. By being diligent we can identify the areas that are affecting our financial health and that's the first step in fixing the problem.In this example the flow is measured to the same time period, year-to-date this year to year-to-date last year.

The Hotel Financial Coach · 30 Sep

What is really important to realize is the food cost calculation in your hotel will always come back to the cost of goods formula. Any attempt to track and individualize the outlet food cost that I have ever seen is a big waste of time. It is a waste of time because it always comes back to the fact that the food cost is calculated by adding the opening inventory to the purchases and then subtracting the closing inventory - as well as any legitimate credits at month end - to calculate the food cost. This is never done in hotels by outlet simply because it is completely inefficient to do so.

HotStats Limited · 27 Sep

Online travel agencies are digging their fingers further into the hotel industry. One of the latest disrupting features comes from Booking Holdings-owned Agoda and its Mix and Save option, which it hails as a win for budget-conscious travelers. It could also be a loss for hotel operators.

Rainmaker, a Cendyn Company · 26 Sep

Brilliant autumn leaves and that slight nip in the air signal the start of the fall season, and right along with it comes the start of hotel budget season. After 10 consecutive years of occupancy expansion, CBRE Hotels Research is projecting that hotel owners will experience a slight decline in 2020 due to the combination of limited demand growth and modest supply increases. To effectively ride out the slowdown and plan for profitability, it's more important than ever for hoteliers to concentrate on total revenue management when planning their budgets for the coming year.

dailypoint™ · 26 Sep

Fall is fast approaching, which means that it is almost time for hotel managers to begin planning for the upcoming year. That's right - it's budget season. Budgets must be allocated to different departments, investment decisions must be made, strategies developed and aligned, etc. For some, this may feel like a painful and time-consuming routine. But a bad decision during this process can come with major risks. I'm not talking about the possibility of a distribution channel performs slightly differently than expected. I'm thinking of major, extremely costly moves that can impact a hotel's entire business strategy or profitability.

Francisco Garcia Auyanet · 25 Sep

The objective of this article is to analyze the strategic approach that lodging corporations with owned properties in their portfolio are conducting, which advocates for a bifurcation between operational and asset management orchestration. Such approach is originated inside big hotel chains and is opposite to another industry widespread practice in which a third-party owns several hotel properties and rents those to hotel chains (i.e. Blackstone, Starwood Capital Group, Bain Capital, etc.).

Drees & Sommer · 24 Sep

According to the annual African Hotel Chain Development Pipeline Survey from W Hospitality Group, there are 75,000 branded rooms in 401 hotels in the pipeline across Africa - a growth of 51% in total pipeline rooms since 2015. The big global chains dominate, with Marriott International representing 81 hotels; Accor 57; Hilton 55; and Radisson Hotel Group 47 hotels. The countries with the largest pipelines are Egypt, Nigeria, Morocco and Ethiopia.