Library Archives

 
Fred B. Roedel,  III

Renovation projects are successful only when all involved parties are aware of and plan for the unique challenges they pose. Completing renovations in an operating hotel, making today's standards work in an older building, completing work within a short down period, and effectively dealing with existing and unknown conditions without negatively impacting the budget, the schedule or guests are just a few common challenges. Read on...

Michael Goldstein

Many properties can not afford the luxury of closing down operations during renovation. As such, one of the biggest challenges that hoteliers across the country face is how to effectively complete either type of renovation while staying profitable and keeping the hotel property open to guests. A quick Internet search shows many disgruntled guests who were unhappy with the quality of service provided to them at various hotels where they stayed while construction took place. They have posted their unflattering experiences and reviews on popular sites where other potential guests are likely to read and be dissuaded from staying at that particular property. Many of the guests' complaints could have been easily resolved, or altogether avoided, had the property adequately planned or known how to deal with guests during a renovation. The following steps and actions can be taken by an hotelier to maintain order, lessen the impact of construction on the guests, and create a more positive environment for everyone involved, including hotel staff. Read on...

Rollin Bell

Hotel renovations are on the rise. According to a report issued by accounting firm PriceWaterhouseCoopers, U.S. Hotels spent a total of $3 billion renovating and upgrading guest rooms and public spaces in 2004. Of this spending, a large percentage was devoted to major structural renovation activities. In its biannual Lodging Survey which includes responses from more than 2, 150 hotel managers and owners, the American Hotel and Lodging Association reported that nearly 90 percent of participants said to be planning major structural renovations in the coming year. Read on...

Rollin Bell

Over the past decade, the hospitality industry - like the rest of the commercial real estate industry - has begun incorporating the use of environmentally friendly, green materials into the design and renovation of existing spaces. The result has been new hotels that are not only aesthetically pleasing - but also sustainable buildings that are making a positive impact on the communities in which they are located. The breakthroughs in green construction have been remarkable. Some international hotels, for example, have been able to reduce energy costs by constructing sod roofs consisting of mud and other organic materials. Other hotels have found ways to minimize waste runoff through innovative engineering techniques, while still others have increased energy efficiency through use of natural and ambient lighting. Read on...

Fred B. Roedel,  III

When developing a hotel, operations must be given priority standing. Operations are essential in order to get a hotel up, running, and producing revenue within a set timeline. Developers must spend the time required to integrate all aspects related to operating the hotel into the overall development plan at its inception. Failure to do so will inevitably result in costly delays. If you do not have an operations expert on staff, hire a consultant. Experienced operators are invaluable when it comes to establishing and meeting performance standards for the design, time, cost and quality of a hotel development. Read on...

Steven Belmonte

How many extra room nights do you have to sell to make an additional $1.5 million in profit? No matter what size or type of hotel you own/operate or what market you compete in, your answer most likely is "a lot more than I might be able to in today's competitive climate." Ironically, few hotel owner/operators think in terms of extra roomnights needed to be sold when weighing the pros and cons of renovating a property and/or reflagging and repositioning it. This is just one reason why so many renovations and reflaggings fail to recoup an adequate return on investment and why capital markets for such projects today often are deemed too risky. These and dozens of other "cancers" are blackening what otherwise undoubtedly would be a much-brighter profitability picture for lodging. Due diligence means 'do your homework, ' which includes many steps along the road to success. Let's look at eight crucial areas that you will need to focus on... Read on...

Fred B. Roedel,  III

There are three options to expanding your portfolio of hotels. You can purchase an existing property and leave it as is, build a new property or purchase an existing one and renovate it. Economics is what will drive your ultimate decision. In order to determine which expansion option best meets your objectives, it is important to properly and reliably evaluate each opportunity by breaking down its time, cost and quality elements in order to ensure success. Read on...

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Coming up in January 2018...

Mobile Technology: Relentless Innovation

Technology has become a crucial component in attracting and retaining hotel guests, and the need to enhance a guest’s technology experience is driving a relentless pace of innovation. To meet and exceed guest expectations, 54% of hotels will spend more on technology in 2018, and mobile solutions in particular will top the list of capital investments. Many hotels are integrating mobile booking, mobile keys, mobile payments and mobile check-in into their operations. Other hotels are emphasizing the in-room experience, boosting bandwidth and upgrading flat screen TVs to more easily interface with guest mobile devices. And though not yet mainstream, there are many exciting technology developments on the near horizon. The Internet of Things (loT) is taking form in some places, and can be found in guest room control systems, voice activation systems, and in wearable sensors that can be used for access and payment options. Virtual reality headsets are available at some hotels so guests can enjoy virtual trips to exotic locations or if off-property, preview conference facilities and guest rooms. How long will it be before a hotel employs a fleet of robots for room service, or utilizes a hologram as a concierge, or installs gesture-controlled walls that feature interactive digital displays? Some hotels are already using augmented reality for translation services, or interactive wall maps, or even virtual décor. This pace of innovation is challenging property owners and brands to stay on top of the latest technology trends while still addressing current projects. The January Hotel Business Review will explore what some hotels are doing to maximize their opportunities in the mobile technology space.