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.
hotelmarketing.com · 4 Nov
What Uber seems to be doing is precisely what investors want now. The company is trying to stop growing where it doesn't make sense.
The Hotel Financial Coach · 28 Oct
I know a lot of people have some confusion and a slight frustration when it comes to the financial information that's available in a hotel and the way it's presented.
CBRE Hotels · 22 Oct
From the high-tech preferences of Generation Z, to the experiential fondness of Millennials, to the health and wellness realities facing Baby Boomers, hotels continually adjust the amenities and services they offer to satisfy their guests. These adjustments are based on extensive consumer research, much of which has been published in the lodging industry trade publications.
HVS · 21 Oct
Government per diem rates are set for a number of locations, many applying to multiple regions or localities in each state. A per diem rate is made up of three components: a lodging allowance, meals allowance, and incidental expense allowance; however, this article and the data presented below focus solely on the lodging allowance. The per diem lodging rates, which provide a maximum amount that a federal traveler can reimburse, are based on the costs of mid-priced hotels and are set annually by the U.S. General Services Administration (GSA). The following article examines the per diem trends of the top 24 lodging markets, as defined by STR, which reportedly make up roughly 32% of the total number of hotel rooms across the country. Hawaii is typically included in this list of top lodging markets; however, it has been excluded because the per diem rates are only set for the continental states.
The Hotel Financial Coach · 21 Oct
This is a story about a recent client who hired me to coach her. She was the director of rooms in a large hotel in Illinois and was told that it was possible for her to be promoted to a general manager role in the future in a smaller hotel with the same brand. She was excited and nervous. Excited because of the prospect of becoming a GM which she had longed for and worked hard for. Nervous because she knew, as did her whispering boss who said, "You better brush up on your numbers."
Hospitality Times · 21 Oct
Cumbria Chamber of Commerce is asking the Government to change its proposed new immigration system to protect the county's tourism and food businesse
CBRE Hotels · 18 Oct
Rooms revenue per available room, reported as RevPAR, is perhaps the most scrutinized performance indicator in the hotel business. Although the true aim of a hotel's operation is to maximize profit, the wide availability and frequent reporting of RevPAR may make revenue the hotel manager's most immediate target. Revenue-maximizing is simpler to estimate and requires less information than profit-maximizing.
eHotelier.com · 18 Oct
Accounting is one of the most important processes hotels need to do on a regular basis. However, it's not an easy task, and there are many challenges
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.
4hoteliers.com · 14 Oct
Tech, globalization, and younger workforce add to complexity, the world’s first 'paper' bottle, rise of the Chinese guest – let’s (We)Chat and travel
Interests in the hotel industry are bought and sold. Contracts in furtherance of the sale of those interests may contain restrictive covenants. In so
Web In Travel (WIT) · 10 Oct
Imagine how much bigger travel would be if we took on the bad guys collectively and with a level of sophistication that combines human intelligence w
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.
Hotel Interactive · 4 Oct
Human trafficking, illegal home rentals, finding qualified labor and increasing tourism to the U.S. are among the current top areas of focus for the
As hoteliers across the land prepare are in the midst of another budget planning season, consider these five tips to help ease the process, and guide
Dimitrios Journeys · 3 Oct
Empirical findings indicate that recurring textual themes from positive online reviews (in contrast to negative reviews) exhibit a higher degree of h