Lender's Key for distressed hotel asset strategies: Butler's Matrix
Lender's Key for distressed hotel asset strategies: Butler's Matrix

Hotel Law Blog · 30 Mar

The Comprehensive Situation Analysis should have gathered and considered all the relevant factors concerning the distressed hotel loan documents, the

Covid-19: How The Hospitality Industry Can Find A Way Through
Covid-19: How The Hospitality Industry Can Find A Way Through — By Gareth Ogden

haysmacintyre · 30 Mar

The hospitality industry has been one of the sectors most badly impacted by the Covid-19 pandemic. Across the UK, all pubs, bars and restaurants have had to close their doors and shut up shop, in order to abide by the unprecedented measures ordered by the Government.

Hospitality Financial Leadership – Food Cost Net Weight
Hospitality Financial Leadership – Food Cost Net Weight — By David Lund

The Hotel Financial Coach · 30 Mar

When people hear the term food cost, they generally think of the simple calculation of cost / selling price = food cost %. This calculation does little more than give you a percentage. Understanding and controlling food cost is much more complex.

MGM Pledges $1 Million for Employee Emergency Fund, Donates Close to Half a Million Pounds of Food
MGM Pledges $1 Million for Employee Emergency Fund, Donates Close to Half a Million Pounds of Food

green lodging news · 26 Mar

MGM Resorts International announced an array of initiatives intended to support those impacted economically by the coronavirus (COVID-19) pandemic, i

Hotel Industry Crisis: 8 Do’s and Don’ts for Distressed Hotels
Hotel Industry Crisis: 8 Do’s and Don’ts for Distressed Hotels — By Jim Butler, Guy Maisnik

JMBM · 24 Mar

As the COVID-19 crisis grows in the US and elsewhere outside China, hotels and restaurants are among the businesses hardest hit. In select markets like Seattle and San Francisco, hotels are reporting single digit occupancies and crushed ADRs. Many hotels do not have the cash flow to keep their doors open. The major hotel companies are talking of furloughs for tens of thousands of hotel employees and many properties are looking at closure or skeleton team maintenance operations.

The Comprehensive Situation Analysis: Critical foundation for decisions on lender alternatives for distressed hotel loans
The Comprehensive Situation Analysis: Critical foundation for decisions on lender alternatives for distressed hotel loans

Hotel Law Blog · 23 Mar

20 March 2020 See how JMBM's Global Hospitality Group(r) can help you. Click here for the latest articles on distressed hotel loans and here for The

Pechanga Resort Casino Donates Nearly $100,000 Worth of Food to Local Charities
Pechanga Resort Casino Donates Nearly $100,000 Worth of Food to Local Charities

green lodging news · 23 Mar

TEMECULA, CALIF.--Dozens of giant 25-pound bags of onions, carrots and celery. Pallets of fresh ripe strawberries and blackberries. Thousands of poun

Hospitality Financial Leadership – Beverage Controls – Top 10
Hospitality Financial Leadership – Beverage Controls – Top 10 — By David Lund

The Hotel Financial Coach · 23 Mar

Controlling the beverage cost is a big deal in hotels. People like to drink and that's great for the bar, but you have to remember the people serving your drinks need a tight set of checks and balances or else they will help themselves to your supplies. It's just human nature to mess around with the stuff at your fingertips all day long. There is a certain sense of entitlement as well because the wages are small, and people rely on tips. Bigger portions or the odd free one for a client can make a big difference in the tips left behind.

HVS Brokerage Insight: Outlook for Transactions in the Wake of COVID-19
HVS Brokerage Insight: Outlook for Transactions in the Wake of COVID-19 — By Dustin Robinett, Kelson Reimer

HVS · 21 Mar

As of February 2020, the market remained strong, with low-interest rates continuing to attract investors despite some softening in the outlook for the industry. It's a whole different world just a few weeks later. The coronavirus (COVID-19) has directly impacted the hotel industry through the expeditious cancellations or postponements of large events and business travel across the country.

The Importance of Financial Relief for the Hotel Industry
The Importance of Financial Relief for the Hotel Industry — By Anne Lloyd-Jones

HVS · 20 Mar

The coronavirus (COVID-19) pandemic is having a profound impact on the hospitality industry, as travel restrictions, limits on large gatherings, the closure of restaurants and bars and, perhaps most influential, fear of the virus, have brought travel—and most other aspects of hospitality—to a virtual halt. According to Chip Rogers, president and CEO of the American Hotel and Lodging Association (AHLA), "The impact to our industry is already more severe than anything we've seen before, including September 11th and the Great Recession of 2008 combined."

COVID-19 Financing Strategic Options For Hotel Owners
COVID-19 Financing Strategic Options For Hotel Owners — By Harry George Spirides

Spirides Hospitality Finance Company · 18 Mar

Along with all the other industries around the world the U.S. hotel industry has been blindsided by the COVID-19 Global Pandemic Black Swan Event. Instantly, hotel owners have found themselves with empty hotels, depleted cash reserves, and wondering how they will be able to make their monthly mortgage payments and payroll which were hardly ever considered to be a problem in the expansionary period leading up to COVID-19.

Hotel Lawyer: Hotel and restaurant distress from COVID-19/Coronavirus demands prompt action to deal with loan defaults, layoffs, shutdowns, recapitalizations and stand down agreements
Hotel Lawyer: Hotel and restaurant distress from COVID-19/Coronavirus demands prompt action to deal with loan defaults, layoffs, shutdowns, recapitalizations and stand down agreements

Hotel Law Blog · 17 Mar

For the last three to five years the pundits have increasingly speculated that the longest economic recovery in history could not endure and that we

How Hoteliers Can Get Over the Coronavirus
How Hoteliers Can Get Over the Coronavirus — By David Eisen

HotStats Limited · 17 Mar

COVID-19 is putting an end to 11 years of unprecedented growth in the hotel industry. There is no sugarcoating it: the coronavirus has induced panic across the globe, throwing markets into chaos, postponing conferences, stamping out travel and emptying drugstore shelves.

Resort Fees – A Growing Source of Revenue
Resort Fees – A Growing Source of Revenue — By Robert Mandelbaum

CBRE Hotels · 17 Mar

The 11th edition of the Uniform System of Accounts for the Lodging Industry (USALI) defines resort fees as, "mandatory fees charged at either a flat amount or a percentage of the room rate." These fees are frequently intended to cover services such as fitness facilities, spas, pools, local phone calls, Internet access, airport transportation, and golf driving ranges, among other recreational facilities.

Hospitality Financial Leadership – Separation of Duties – Part 1
Hospitality Financial Leadership – Separation of Duties – Part 1 — By David Lund

The Hotel Financial Coach · 16 Mar

In the business world protecting your assets is a critical strategy. Without it you are open to "things" happening that can cost you a fortune. I was trained with the concept of separation of duties as a foundation so in some respects I take it that everyone else has the same perspective.

3 Undistributed Expense Trends to Watch
3 Undistributed Expense Trends to Watch — By Laura Resco

HotStats Limited · 16 Mar

Hotel operating departments can be divided into two main groups: those that generate revenue and those that don't. Typically, hoteliers focus on the first group when analyzing financial performance— after all, that's where the money comes from!

Secrets of Select Service Success
Secrets of Select Service Success

Hotel Business Review by hotelexecutive.com · 15 Mar

Select service properties hold great appeal to hotel investors and operators at the present time. Contributing factors include their reasonable devel

After A Decade Of Growth And Recovery, What’s Next?
After A Decade Of Growth And Recovery, What’s Next? — By Joseph Pierce

Hotel & Leisure Advisors · 12 Mar

Looking back at the past always helps to give an indication of what the future may hold. The hotel industry has shown tremendous growth in all metrics since 2009.

Asset Management – Why Bother?
Asset Management – Why Bother? — By Russell Kett

HVS · 10 Mar

In the course of each year my colleagues and I see a huge number of hotel P&Ls and, within them, there are often wide variances in performance, even in like-for-like situations - whether it is better or worse revenue generation, cost control or effectiveness. Some hotel management companies don't produce an adequate return on their owners' investment by doing as much as they possibly can to increase revenues, reduce operating costs and improve bottom-line profits and cash flow. Only when given a 'kick' from the owner or from a third-party asset manager acting on behalf of the owner does the optimisation of a hotel's performance - and therefore its value - often become a reality.

Coronavirus COVID-19 force majeure: Contract provisions and governing law are important
Coronavirus COVID-19 force majeure: Contract provisions and governing law are important — By Mark Adams

JMBM · 9 Mar

Force majeure provides an excuse for a party's non-performance of its contractual obligations as a result of an extraordinary event or circumstance beyond the control of the parties, such as act of God, war, strike, riot, etc.

After Watching The Credit Bubble Implode In 2008, I Worry For Hotels
After Watching The Credit Bubble Implode In 2008, I Worry For Hotels — By Ari Andricopoulos

RoomPriceGenie · 9 Mar

I'm no health expert but, for what it's worth, I'm pretty pessimistic about this whole thing. The graph below shows spread so far (to March 6th) outside China, and, as you can see, the cases are exploding. More interesting to me, as a mathematician, is the logarithmic graph which shows the rate of growth.

Leveraging Service Recovery to Increase Revenue & Reputation
Leveraging Service Recovery to Increase Revenue & Reputation

Hotel Business Review by hotelexecutive.com · 8 Mar

Mishaps are inevitable in the hospitality industry. But these mistakes don't have to be fatal. In fact, the strategies you put in place to respond to

How To Use Data To Make Better Group Revenue Choices Resulting in Optimized Profits
How To Use Data To Make Better Group Revenue Choices Resulting in Optimized Profits

Hotel Business Review by hotelexecutive.com · 8 Mar

With the help of strong group and meetings dataset, hotels can leverage these insights to improve sales productivity, make smart revenue choices, and

COVID-19 Coronavirus As Force Majeure Contract Defense — History And Origins
COVID-19 Coronavirus As Force Majeure Contract Defense — History And Origins — By Mark Adams

JMBM · 6 Mar

One often doesn't know the extent of one's insurance coverage until a calamity occurs. So it is with force majeure provisions in contracts. Typically, force majeure provisions are included in contracts to excuse a party from contractual obligations if some unforeseen event beyond its control prevents performance of its contractual obligations.

How To Make The Most Of A Coronavirus Situation
How To Make The Most Of A Coronavirus Situation — By Xenia zu Hohenlohe

Considerate Group · 5 Mar

Mark Carney, the Bank of England's outgoing governor announced on Tuesday: "We have to work out how to bridge this period. We don't want viable firms to go out of business because of the necessary steps that have to be taken to protect the British public."

Hospitality Financial Leadership - What to Do in a Financial Crisis
Hospitality Financial Leadership - What to Do in a Financial Crisis — By David Lund

The Hotel Financial Coach · 4 Mar

A lot has been said about the flue outbreak and the devastating effects it will have on the travel and hotel industry. But what can you do about it? The old saying, "you can't save your way to prosperity" still holds true, but you can be the best of class when it comes to being the least effected. Occupancy and rates are going to fall, they always do. The question is, where will the market go and how can we keep our REVPAR index. I'll leave that piece for the revenue and marketing pundits.