Five Essentials For Present Day Hotel Operations
Five Essentials For Present Day Hotel Operations — By Antoine Berberi

Cayuga Hospitality Consultants · 16 Apr

It has been one year since the historical COVID-19 pandemic made its debut, affecting the entire population and economies around the world. It is evident that out of all the industries negatively affected by this economic tsunami, the hospitality industry has been, and will most likely remain, the most impacted and the slowest to recover.

What To Do About Hospitality Commercial Insurance Due To COVID-19
What To Do About Hospitality Commercial Insurance Due To COVID-19 — By Thomas Cleary

Cayuga Hospitality Consultants · 12 Apr

First and foremost, should you pursue an insurance claim? YES! The first step in this process is filing your initial claim.

What we can learn from our Restaurant Pandemic P&L
What we can learn from our Restaurant Pandemic P&L — By Stacy Moore

Cayuga Hospitality Consultants · 3 Mar

We are all trying to find silver linings from this now nearly year-long unimaginable situation that has somewhat stopped us in our tracks. We find comfort and sanity in things like spending more time with our families, picking up new or dormant hobbies, appreciating and improving our homes, keeping up with goings on around us, and so many others. The one you don't hear too much, if at all, is how much better my business is operating.

Hospitality Experts Predict 2021 Trends
Hospitality Experts Predict 2021 Trends — By Susan Barry

Cayuga Hospitality Consultants · 5 Feb

Cayuga Hospitality Consultants don't always agree, but when asked to predict the future of hospitality, everyone felt the same: Don't expect recovery to be quick.

Identify Red Flags for Hotel Fraud
Identify Red Flags for Hotel Fraud — By Kevin Doyle

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.

Hotel Receivership Case Study: 48-Hour Deployment Due to Bankruptcy
Hotel Receivership Case Study: 48-Hour Deployment Due to Bankruptcy — By Ken Edwards

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.

Reset, Release, Pivot… Think Beyond to Move your Hotel Forward
Reset, Release, Pivot… Think Beyond to Move your Hotel Forward — By Stephen Darling

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.

Managing the Risk of Fraud During COVID-19
Managing the Risk of Fraud During COVID-19 — By Kevin Doyle

Cayuga Hospitality Consultants · 21 May

I wanted to share with you some thoughts I have around the potential unintended consequences connected with the necessary winnowing of hotels' finance and operational headcount. First and foremost, hotels had to take all steps necessary to stem their evaporating cash. Every minute counted. Many of these decisions resulted in reassignment of roles and responsibilities that under normal business operations would not be acceptable as it violated generally accepted internal control protocols.

Responsible Growth, From An Operators Perspective
Responsible Growth, From An Operators Perspective — By Chuck Kelley

Cayuga Hospitality Consultants · 11 Dec

Over the years and in various roles I found myself in serious disagreements with a brand's development and hospitality feasibility group.

Hotel Owner Vs. Debt Service, How To Prepare for the Downturn
Hotel Owner Vs. Debt Service, How To Prepare for the Downturn — By James E. Fitzgerald

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.

5 Ways to Combat Hotel Fraud
5 Ways to Combat Hotel Fraud — By Kevin Doyle

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.

How to Avoid Lost Hotel Revenue After a Disaster
How to Avoid Lost Hotel Revenue After a Disaster — By Romulo Vallejo

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.