Hotel Business Review: Week of Sep 25, 2017

John Mavros
  • Hospitality Law
  • The Ever Present Threat of a Disability Discrimination Lawsuit
  • The Family Medical Leave Act, the American with Disabilities Act, and worker’s compensation provide employees that are injured or disabled with various rights to leave or reasonable accommodation. An employer’s understanding of these laws is imperative to avoid disability discrimination lawsuits. This article will explore each law’s parameters and the interplay among them. Read on...

Stephen J. Renard
  • Executive Leadership
  • Six Potential Challenges and Growth Opportunities in the Hotel Industry
  • In a panel moderated by PwC’s Scott D. Berman, Chris Cahill, chief executive officer, Luxury Brands, AccorHotels; ex-chief executive officer Fairmont Hotels Steve Haggerty, global head of Capital Strategy, Franchising, and Select Service, Hyatt Hotels Corporation; Kevin J. Jacobs, executive vice president and chief financial officer, Hilton; Elie Maalouf, chief executive officer, The Americas, InterContinental Hotels Group (IHG); and Mit Shah, chief executive officer and senior managing principal, Noble Investment Group, discussed the industry’s growth potential as it related to geopolitical and economic shifts. Most have seen, and believe they will continue to see, moderate growth. Read on...

David Lund
  • Revenue Management
  • How to Read Your Hotel's Financial Statements
  • The first thing you need to know about reading a hotel financial statement is there are basically 2 different statements that you will want to get comfortable with. The two different statements are the income statement, some call it the P&L for profit and loss statement and the second in the balance sheet. Now I know what you’re thinking, balance sheets are for the accounting types and they are complicated. Nothing could be further from the truth and I am going to give you a new understanding and share a secret about the balance sheet and the relationship to the P&L. Read on...

Bhanu Chopra
  • Revenue Management
  • Yield Management by Distribution Channel
  • The hospitality industry is one of those industries where the people running the show of hotel business cannot lay back and earn easy revenues. Revenues of a hotel may fluctuate like weather depending upon a number of factors like demand, competitor rates, climatic conditions, security & political situation, holiday season, events etc. Revenue managers are always on their heels to ensure that the hotel operates at maximum occupancy throughout the year. Every empty hotel room is a loss of revenue as the operational cost of running a hotel remains broadly the same for 50 customers or 100 customers. Read on...

SEPTEMBER: Hotel Group Meetings: Blue Skies Ahead

Ivan Tamayo

Since first coined in the early 1980s, the boutique hotel is one with quite the noteworthy story. Though a story of evolution, its true claim to fame is how its model has changed the industry. A look at today’s hotel landscape showcases the undeniable influence boutique hotels, generally 100 rooms or less and almost always independently owned and many times self-managed, have had on the industry. Whether in design, location, in-room amenity options, or the locally supported one-off venues that make every ‘must see’ destination guide, the distinctive characteristics that define these hidden gems have gone mainstream. Read on...

Jason Lewis-Purcell

A lot is said about maximizing hotel revenue per available room, but what of revenue per available square meter? It’s a broadened mindset that may be needed from any hotel that aspires to attract the world’s several million business travelers to their property but doesn’t quite know where to begin. Indeed, as Hotel Analyst’s Katherine Doggrell recently observed: “MICE has been a thorn in the side of the sector since windowless rooms with biscuits were invented. Any hotel worth its salt has to have them, but selling them is ... hardly an efficient process. Dead space in which many go to die.” Read on...

Greg Hopton-Jones

Industry metrics have 2017 poised to be another banner year in the meetings business. The trend looks to only continue into the foreseeable future presenting new challenges and opportunities to meet, and hopefully exceed, the expectations of the client, planner, and hotel alike in this dynamic environment in which we find ourselves. The influx of meetings has increased over the last few years considerably along with the expectation to create a memorable ‘experience’ has meeting planners and hotels donning the ‘creative hat’ more frequently to provide a unique event that resonates long after the meeting has concluded. Read on...

Bob McIntosh

We see so much written these days on the similarities and differences in the lifestyles of Millennials, Gen X, Gen Y and Baby Boomers. How are Hoteliers navigating through these differences and similarities so the investment in bringing so many people together for a meeting is realized by the host? While some may think the answers are very obvious, there certainly are opportunities for individual hotels and brands to make their mark and make claim to more market share. At the end of the day, market share defines how effective our brand message, marketing dollars and direct sales efforts are serving our owners and associates who depend on those results for their livelihood. Read on...

Coming Up In The October Online Hotel Business Review




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Feature Focus
Revenue Management: Technology and Big Data
Like most businesses, hotels are relying on technology and data to drive almost every area of their operations, but perhaps this is especially true for hotel Revenue Managers. There has been an explosion of technology tools which generate a mountain of data – all in an effort to generate profitable pricing strategies. It falls to Revenue Managers to determine which tools best support their operations and then to integrate them efficiently into their existing systems. Customer Relationship Management, Enterprise Resource Planning, and Online Reputation Management software are basic tools; others include channel managers, benchmark reports, rate shopping tools and review systems, to name a few. The benefits of technology tools which automate large segments of a Revenue Manager’s business are enormous. Freed from the time-consuming process of manual data entry, and having more accurate data available, allows Revenue Managers to focus on analysis, strategies and longer-term decision-making. Still, for most hotels, the amount of data that these tools generate can be overwhelming and so another challenge is to figure out how to effectively utilize it. Not surprisingly, there are some new tech tools that can help to do exactly that. There are cloud-based analytics tools that provide a comprehensive overview of hotel data on powerful, intuitive dashboards. The goal is to generate a clear picture, at any moment in time, of where your hotel is at in terms of the essentials – from benchmarking to pricing to performance – bringing all the disparate streams of data into one collated dashboard. Another goal is to eliminate any data discrepancies between finance systems, PMS, CRM and forecasting systems. The October issue of the Hotel Business Review will address all these important developments and document how some leading hotels are executing their revenue management strategies.