HotStats Limited · 10 Aug
Among the many delicious scenes from the movie "Goodfellas" is one where the characters of Ray Liotta and Joe Pesci burn down a restaurant because its credit has run out, putting an end to their graft. "And then finally, when there's nothing left, when you can't borrow another buck from the bank, you bust the joint out. You light a match."
HotStats Limited · 6 Aug
A quote in the 2008 novel "Paper Towns" by John Green reads: "The rules of capitalization are so unfair to words in the middle of a sentence." This droll observation is not at the crux of this blog — well, not that kind of capitalization — but it may be similarly comic for those in financial accounting within the hospitality industry.
EHL · 3 Aug
Dr. Philippe Masset and Dr. Jean Philippe Weisskopf are both associate professors at EHL specializing in Empirical Finance and Wine Economics. They are founding members of the Alliance for Research on Wine & Hospitality Management and have written extensively on the subject. Here they share with us some useful tips on vital pre-learning material for any potential student of economics, equity, finance and management.
HVS · 3 Aug
The Hotel Law Guide helps serve hotel real estate owners, developers and operators as a reference for experienced and well-known lawyers and attorneys with a track record in Asia Pacific region. Each law firm highlights their representative attorneys with the type of services offered and notable projects.
Hotel Mogel Consulting Limited · 3 Aug
Imagine a quick mathematical scenario. Business drops 50% due to the lockdown earlier this year then you see a recovery of 50% of this number once the pandemic is over. Occupancy is back to normal, right? Not true; it is actually still down 25% from where it was before the drop.
The Hotel Financial Coach · 3 Aug
The hotel business is a retail business and in order to stay on top of your business you must fully and completely balance your daily revenues and settlements. Every day we begin anew and every day is a story unto itself when it comes to the revenues and settlements. I may sound like I am repeating "revenues and settlements," but it cannot be emphasized enough.
HotStats Limited · 28 Jul
The tidal wave of COVID-19 has left many in the hotel industry gasping for air amid choppy financial waters. Luckily, governments across the globe have tossed hotels a much-needed financial floatation device.
Global Asset Solutions · 27 Jul
The damage inflicted by COVID-19 cannot be underestimated, it is imperative that hotel owners, including Private Equity (PE) funds stay vigilant and have aligned interests with all concerned parties. What better way than to engage the likes of a Hotel Asset Manager (HAM) who is an extension of the PE fund with relevant industry know-how and expertise. He/she will provide an array of services which can help the hotels navigate this period. For this to happen effectively, PE funds need to trust and have faith in their hired HAM to perform as it is a two-way street.
Global Asset Solutions · 22 Jul
With the advent of the 'new normal', hotel owners and operators must begin considering the various financial and operational scenarios in their forecasts extending into 2021. Accurate forecasting is notoriously tricky, even in "business as usual" scenarios. Often, some operators need more pressure to deliver detailed break-downs forecasts, and they rarely extend more than three months in the future. The objective of a forecast plan is to ask the hotel operator to propose tangible actions: to increase the performance of specific areas of the hotel, to manage the production of the personnel, to schedule productive activities, and to increase customer satisfaction.
HotStats Limited · 21 Jul
The punches thrown by COVID-19 onto the hotel industry have been incessant. First, it landed a blow to public and employee health. Next came a punishing economic swing that knocked out nearly 200 million jobs globally.
CBRE Hotels · 21 Jul
As of the writing of this article we are in the early stages of evaluating the impact of the COVID-19 virus on the U.S. lodging industry. Owners and operators are discussing the potential use of business interruption insurance (BI) to cover expected losses in profits. Business interruption insurance covers the loss of income that a business suffers after a disaster. It is designed to put a business in the same financial position it would have been in if no loss had occurred. Owners and operators are encouraged to review their BI policies to determine if their businesses are covered from any losses attributable to the COVID-19 virus.
CBRE Hotels · 20 Jul
As a result of COVID-19, hotel operators have been forced to make tough decisions, including the most basic one on whether to keep the lights on. Many were required to close their doors after municipal mandates were put in place and some decided to remain open, despite record-low occupancy levels, to house pandemic-related first responders and other essential personnel related to the fallout from the spread of coronavirus, largely in place of more traditional sources of demand during "normal times".
The Hotel Financial Coach · 20 Jul
Internal controls in your hotel are critical and they need to be designed to keep your assets safe and your money where it belongs - with you and not in someone else's pockets. I have seen this go wrong way too many times and I also talk to many hoteliers that are oblivious to this level of control or they just don't see the importance of it.
Global Asset Solutions · 17 Jul
As hotels begin to re-open, it is crucial that they're mindful of their Break-Even Point (BEP) to understand their cost levels and to determine what RevPAR level is necessary to re-open. COVID-19 presented many challenges for hotels who are currently striving to merely break-even instead of maximizing profit as usual. While hotels usually aim for 35% occupancy threshold, many are hoping that COVID-19 cost reductions will lower the breakeven threshold.
Hotel Law Blog · 17 Jul
If you are reading this, you are almost certainly in the hospitality industry, and you are most likely in a financial and emotional distress. During
ROOMDEX, Inc · 14 Jul
Traditionally, hospitality has been a conservative industry when it comes to technology given that the focus has always been on face-to-face service between staff and guest. The central location for the majority of these interactions has been the front desk (or Front Office (FO) department). COVID-19, however, is changing all of this.
Hotel Law Blog · 13 Jul
It’s estimated that 20 percent of hotels in the U.S. have debt held in commercial mortgage-backed securities (CMBS). Among these hospitality industry
The Hotel Financial Coach · 13 Jul
In the hotel business, we have three equal pillars. The guest, the colleague and the money. We need to realize that the third pillar—the money, the owner, the P&L, the paperwork, whatever you want to call it—needs a proper voice. The right voice, a voice that speaks to the leadership and the highest purpose that a cornerstone of our business warrants. Far too often the voice of the money is scary stingy or downright mean. If the paper is going to have a voice, we want to ensure it's the proper one. The voice that will get and give equity to all our constituents.
Cornell · 13 Jul
New research from the School of Hotel Administration (SHA) shows that while earnings are used in the lodging industry to inform key financial decisions, from setting incentives for management contracts to determining capital allocations, little is known about the factors that can have a significant impact on achieving sustainable earnings in the industry.
HVS · 10 Jul
The issue of financing the cost of reopening the hotel sector was the hot topic tackled in the second hotel webinar organised by global hotel consultancy HVS, legal firm Bird & Bird, EP Hospitality and AlixPartners, which was held yesterday [8th July].
HotStats Limited · 9 Jul
In 1969, Swiss-American psychiatrist Elisabeth Kübler-Ross published "On Death and Dying," which posited five stages of grief: Denial, Anger, Bargaining, Depression and Acceptance.
HTI Consulting · 8 Jul
Acknowledged as one of the African continent's leading hospitality investment experts, Wayne Troughton of HTI Consulting shared unique insights in the first 'Virtual Hotel Club' held in early July, a dynamic and informal Pan-African platform for hospitality industry stakeholders the way forward within the industry at this time of crisis.Data from the presentation was gathered from a survey that covered 14 regional and international operators active in the African hotel space (41 hotel brands and 219 projects currently under development). These included the likes of Hilton Worldwide, Marriot International, Radisson Hotel Group and Accor Hotels, amongst others.
Hotel Law Blog · 30 Jun
As ADA lawsuits continue target hotels, it is critical that hotel owners understand what the ADA requires during the online reservations process.
Hotel Law Blog · 29 Jun
ADA website cases continue to be filed against hotels nationwide, but some courts are pushing back against serial plaintiffs. My partner, Marty Orlic
Global Asset Solutions · 26 Jun
COVID-19 introduced the hotel industry to a lot of uncertainties for the future. It also revealed several weak spots and high-risk areas within hotel management agreements (HMA's). As these weaknesses become more evident, it is important to decide which points to focus on, how they can be adapted moving forward, and how each party can make the necessary adjustments to help each other out.
Farazad Group Ltd. · 25 Jun
Trophy hotel is a term used in hospitality real estate to define a property in remarkably high in demand and either super prime or prime locations by investors. These assets are generally a status symbol with well-known name recognition, a landmark, iconic buildings located in prestigious prime address with strong underlying property fundamentals such as unique distinctive design architectures and the finest construction and highest quality finishes money can buy.