Attention, clubs: on August 8, the United States President issued an executive order deferring a portion of your employees’ payroll taxes. This payroll tax holiday runs from September 1 to December 31, and only employees making less than $104,000 per year qualify.
By Bianca Lopez and Evita Ma / Data usage in the hospitality environment has skyrocketed, and continues to grow every year, making a robust broadband network crucial to guest services and back-of-the-house operations.
It has been an exciting first year for the HFTP Foundation. Between frenzied fundraising and planning a packed docket of upcoming research for 2020, research staff have certainly had their hands full.
Aptech · 20 Oct
PITTSBURGH, Oct. 20, 2020 — Aptech, the industry standard for hospitality financial management, has released the next version of its Execuvue busines
The Hotel Financial Coach · 19 Oct
Most hotels measure payroll as a percentage of revenue or, as it is commonly referred to, labor cost percentage. This is not helpful. Why, you ask? Well, first of all, if sales magically increase because of an increase in the average room rate or average cover, your labor cost will automatically improve. Did anyone actually do anything better with the payroll? No. Or, if there is an increase in wages due to an outside force like the minimum wage increased, then your labor cost will suffer and did anyone actually do anything negative? No. So you see the limitations of labor cost percentage.
AETHOS Consulting Group · 16 Oct
The hotel industry faces an extraordinary challenge today: how to operate a hotel in the "new normal." With the near future so cloudy, it is close to impossible to effectively set accurate property and company forecasts; at this time occupancies and revenue per available room numbers are at painfully inadequate levels.
HVS · 15 Oct
In 2019, the national lodging market reached new heights, with hotels reporting the highest occupancy and ADR levels ever recorded. Similarly, hotel development continued at a steady pace, with new hotels opening to a burgeoning market and new and exciting projects continuously being moved through the development pipeline. Since the start of the COVID-19 pandemic, government restrictions, travel and group cancellations, and an overall fear of traveling have caused an unprecedented drop in travel and tourism demand in the country and around the world, which has resulted in substantially lower occupancies and average rates.
EHL · 15 Oct
The COVID-19 crisis is putting the global economy under pressure in an unprecedented way. Companies worldwide have been forced to cut their dividend payouts. Based on the Janus Henderson Global Dividend Index (August 2020), global dividends fell by 22% to $382.2bn in the second quarter of 2020. However, significant variations appeared across regions and industries. North American dividends barely changed on a year-on-year basis, while in Europe, 54% of firms reduced their dividend payouts. In France, payouts dropped by 57%, in Spain by 70%, in Germany by 19%, while no change appeared (on a year-on-year basis) in Switzerland.
HAMA · 14 Oct
The Hospitality Asset Managers Association ("HAMA") today released the results of a wide-ranging survey of asset managers' thoughts, experiences and
HVS · 14 Oct
Mixed-use development, usually a planned combination of hotels, retail, office or residential space, is a fairly widespread concept globally with several such iconic projects around the world. In the last decade or so, the concept has been gaining ground in India as well, though the combination (two or more elements) of retail, office, and residential spaces have been more popular. However, as investors look to maximize returns through efficient land usage and optimal utilization of FSI, hotels have also been added to the mix.
HVS · 14 Oct
Singapore to Allow Visitors from Australia and Vietnam from 8 October, Seychelles Review Travel Advisory and Open Borders to All Countries from 2 Oct
HotStats Limited · 14 Oct
As COVID-19 continues its charge unabated, it's natural for hoteliers to feel like they're on loose financial footing. And as room revenue becomes less predictable, many hoteliers are seeing their revenue-only strategies give way beneath them.
Ecole hôtelière de Lausanne (EHL) · 14 Oct
The COVID-19 crisis is putting the global economy under pressure in an unprecedented way. Companies worldwide have been forced to cut their dividend
Aptech · 13 Oct
As hotels continue to operate with reduced staff, more and more pressure is being placed on departmental teams to find ways to operate more efficient
HFTP Connect · 9 Oct
How can you forecast for meetings, business conferences, weddings and special holiday gatherings like those that take place at Christmas when you hav
HotStats Limited · 9 Oct
By now, most hoteliers are in the throes of budget season. Only this year's version is unlike any before. COVID-19 has made it so.
Service Properties Trust · 7 Oct
Service Properties Trust (Nasdaq: SVC), or SVC, today announced that it has terminated the management agreements for 122 hotels with Marriott Interna
Sertifi Blog · 6 Oct
What is a chargeback team and what do they do? Think of a chargeback team like firefighters. They hope fires never happen and aim to prevent them, bu
ProfitSword · 6 Oct
ProfitSword, hospitality's premier developer of business intelligence and data integration software, has been selected by Oliver Companies, Inc. to p
HVS · 6 Oct
In a market like India, where land most often than not is mis-appropriately valued resulting in exaggerated project costs and hotel transactions are limited in number, the only viable methodology that remains relevant especially in the current uncertain & volatile market scenario is that of Discounted Cash Flows (DCF). Moreover, the current pandemic has had an unprecedented impact on the hospitality sector, with hotels being temporarily closed and the sector witnessing all-time low performance metrics, by the virtue of which, assessing the value of a hotel on current income fails miserably.
HVS · 5 Oct
Fantauzzo Art Series Hotel Acquired by Ghassan Aboud's Crystalbrook Collection for AUD75 Million, Japan to Allow Entry for All Non-tourist New Visa A
The Hotel Financial Coach · 5 Oct
Hot on the heels of creating a hotel policy manual is the newfound ability to create an internal control review process. Policies are all about the rules of the road and the ICR is all about the roadside check stop.
RAR Hospitality · 2 Oct
The COVID-19 pandemic has caused unprecedented disruption to the hospitality industry, so when it comes to mapping a post-pandemic recovery, it's clear that we are in uncharted territory. The Lodging Conference hosted Bernard Bauhmohl, Chief Economist of the Economic Outlook Group. His remarks related to vaccines, treatments, lack of stimulus package and election results led us to believe we are in for a longer ride along the trough of this recession.
Sertifi Blog · 30 Sep
If you live in a cold place, one of the ways to protect yourself from the frigid temperatures is to layer up with proper clothing. While you can’t co
HVS · 30 Sep
Hotels are complicated investments and therefore selecting an appropriate hotel agreement for a property requires exhaustive research and investigation by an investor. The choice of an operator as well as the hotel operating agreement has a significant impact on the cashflow and the potential value of the property. Hotels and the hospitality market are constantly evolving as a result of brands consolidating, owner profiles changing, technology disruption, changing traveler behavior as well as hotel investment trends altering.
Onyx CenterSource · 30 Sep
Onyx CenterSource, a leading global provider of B2B payments and business intelligence to the hospitality industry, today announced it is a contribut
Aptech · 29 Sep
With operating budgets thrown out the window by second quarter this year, hoteliers are scrambling to find useful historical data to help guide them
HVS · 29 Sep
After realizing record-high RevPAR levels with over 100 consecutive months of growth, the lodging industry continued to strengthen through 2019, albeit at a significantly more tempered rate. Then, in the first quarter of 2020, COVID-19 struck. The unimaginable pandemic erased years of RevPAR gains virtually overnight, leaving owners and operators scrambling to strategize the forthcoming steps. While logistics pertaining to reopening hotels, new sanitation standards, and controlling variable operational expenses are on the forefront of hoteliers' minds, fixed expenses, particularly an asset's property tax burden, are also key factors that hotel owners should keep on the horizon.
At Your Service - A Blog by INTELITY · 29 Sep
It’s difficult in any year to predict what a successful hotel budget looks like. But cliched phrases like “no one knows what the future holds” have f