Library Archives

 
Mark Ricketts

Many factors go into selecting a new market for a hotel acquisition or ground up development. While development and transaction activity remains robust in the Top 25 markets in the United States, hotel entities are also vigorously exploring secondary and tertiary markets for acquisitions and new builds. Among the attractions are communities with strong employment prospects, a growing economy, outstanding quality of life, access to needed labor, and reasonable living and business costs. Existing and prospective demand drivers, site selection, brand distribution and organizational resources are also part of the decision equation, which will be considered in this article. Read on...

Gavin Davis

Understanding the macro-environment and being ahead of the curve (i.e. before the data provides hard evidence of such in hindsight) in such capacity provides owners and managers the ability to most timely make important decisions that impact profitability and asset valuation. Are you a hotel builder? We look at how purchasing lumber in the middle of an economic slowdown can be advantageous to the future success of your hotel development and investment. Buy Right, Build Right, Manage Right. Read on...

Katharine Le Quesne

Calling all hotels and concept innovators: I am waiting to be swept off my feet by a hotel. We consumers have moved on from seeking on products; and the current obsession with experiences is yesterday's news. But creating products that deliver unique personalised experiences that resonate with consumers is a tough gig and many hospitality companies are still trying to crack it. But we're getting there and the concept creation process is stepping up a gear, using a blend of tangible and intangible tools to create next-generation offerings. It's time we for a more nuanced way to underwrite these deals. Read on...

Felicia Hyde

From culinary to cultural to artistic activities, modern day travelers are in search of the "live-like-a-local" experience. Gone are the days where five-star accommodations and best-in-class-service are the must-haves; now, travelers are on the hunt for unique and personalized destinations and the opportunity for cultural immersion. Backed by research, consumers are relating positive travel experiences to destinations that promote self-discovery and activities that fuel the mind, body and soul. With these trends already shaking up multifamily communities nationwide, hoteliers should consider applying the following design strategies to turn their hotel properties into experience-driven destinations. Read on...

Kristi Dickinson

Asset managers have responsibility for both managing an investment and overseeing physical assets. Finding the highest and best use of a property is the essential role. In the guest service-based hospitality industry, these plans will rarely be achieved without first influencing the people who will execute them. "Soft skills" such as emotional intelligence and an ability to inspire are often under-valued in asset managers, but human connection and influence are vital to success. To be effective you must align the people with the vision through a strong culture. The great irony is that your most important asset, culture, is essentially invisible. Read on...

Michelle Woodley

Preferred Hotels & Resorts, the world's largest global provider of sales, marketing, and distribution services to independent luxury hotels, is approaching the second half of 2019 with vast excitement and momentum after an incredibly successful start to another milestone year, which marks 15 years of ownership by the Ueberroth Family. Representing more than 750 one-of-a-kind independent hotels, resorts, lodges and luxury residences across 85 countries, Preferred Hotels & Resorts brings strategic advantage to hotel owners, operators, and management companies through brand prestige and global operating scale. Read on...

Lisa Ross

Wellness travel is taking tourism by storm. Growing year-over-year at twice the rate of the global tourism industry, hotels and destinations can't afford to ignore this trend if they are to remain competitive. A place on the field requires a full grasp of the niche traveler's scope of demands. The wellness experience permeates the traveler's daily existence: From their dining choices and sleep habits to their state of mind and spirituality practices. Hotels and destinations that leverage this holistic mind-body movement have an opportunity to better profitability, attract new travelers and potentially build greater brand loyalty. Read on...

David Ashen

Inspiration can be found in the most unexpected places. For instance, senior living facilities are taking their design cues from the hospitality industry, which is not unlike what we have seen in the development of luxury high rise living in the last decade. David Ashen, president & CEO of interior design and brand consulting firm dash design, relays the ways senior living developers are applying lessons learned from the hotel industry to create unique experiences in the senior living space, using case studies to demonstrate how they are realizing innovative public spaces and programing. Read on...

Stuart Butler

In this article we look at interesting statistics and takeaways from the 2019 Leisure Travel Study. The annual research provides a comprehensive look into consumer shopping and booking preferences and behaviors. This year's data shows that hotels are missing out on a huge opportunity to reduce reliance on OTAs and drive more direct bookings, that it may be time to invest in a branded mobile app, that consumers aren't quite ready to embrace voice-enabled technology, and that Millennials really are quite different than previous generations. Read on...

Derrick Garrett

Digging deep into many of the complexities of creating successful music architecture solutions, we can move into the future of guest experiences. To me, that means bundling the music content service with the audio and video integration. AV technology today has the potential to be so much more than background music and a screen with static information. There are endless opportunities with the latest technology to drive the guest experience and engagement in innovative and unforgettable ways. Read on...

Dana Kravetz

Way back when, on June 10, 1963, then-President John F. Kennedy signed the Equal Pay Act into law – a bold piece of legislation that amended the Fair Labor Standards Act and requires that men and women be given equal pay for equal work within the same establishment. Fast-forward fifty-plus years, and it's apparent that work remains to be done. Today, females in the workplace earn 80% less than white men, with women of color faring much worse. And while the hospitality industry performs better than the national average in terms of the gender pay gap, disparities remain that must be stamped out once and for all. Read on...

Nancy Brown

A study of hotels in New Zealand shows both strength in their disaster resilience and a few areas for improvement. The Disaster Resilience for Hotels framework is used as a basis for the surveys which were distributed to hotel general managers and staff. Analysis of the results helps to understand hotel resilience predictors. Hotel leaders can use this information to make evidence based decisions about their organizations disaster management activities and operational choices. Key findings: include front line service staff in planning, hotels need to network with community and government organizations, and operational capacities in disasters need analysis.? Read on...

Brian De Lowe

Proper Hospitality is expanding from a single Proper-branded hotel – San Francisco Proper Hotel – to a high-end lifestyle hotel brand with three additional properties opening this summer - Santa Monica Proper Hotel in June followed by Austin Proper Hotel & Residences and Downtown LA Proper Hotel. Led by Brad Korzen and Brian De Lowe, Proper Hospitality designs and operates high-end lifestyle experiences under its three distinct brands - Proper Hotels and Residences, Avalon Hotels and Custom Hotel. Proper Hospitality seeks out emerging, urban innovative districts within dynamic U.S. cities. Each Proper property is designed by world-renowned international tastemaker Kelly Wearstler and is an ode to its respective city. Read on...

Ben Mizes

Unlike with some recent industry-wide disruptions (think Netflix vs. Blockbuster), the hotel industry has weathered the rise of Airbnb, and held on to most of its market. A new study from Clever Real estate uncovers some of the competitive advantages that have allowed the hotel industry to compete with the $38 billion upstart, from 24-hour reliability, to a specific class of amenities, and points the way toward a future of renewed vitality and innovation. Read on...

Steven D. Weber

A trademark can be a recognizable sign or design that defines a brand. Protecting that trademark can be crucial to a hospitality player attracting guests and maintaining a competitive edge. A hospitality player's success may lead to imitation from competitors. That imitation may lead to infringement of a hospitality player's trademark. Protecting any trademark should be a priority for hospitality players. Failing to protect a trademark can lead to waiving rights and claims that a hospitality player may use to enforce its trademark rights. Hospitality players should seek to understand whether any threats exist to their trademark rights and take appropriate action in response to those threats. Read on...

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Coming up in October 2019...

Revenue Management: Focus On Profit

Revenue Management is still a relatively new profession within hotel operations and as such, it continues to evolve. One significant trend in this area is a shift away from using revenue as the foundation to generate key performance indicators (KPIs) and to instead place the emphasis on profit. Traditionally, revenue managers have relied on total revenue per available room (TrevPAR) and revenue per available room (RevPAR) as the basis of their KPIs. Now, some revenue managers are using gross operating profit per available room (GOPPAR) as their primary KPI. This puts profit at the center of revenue management strategy, and managers are increasingly searching for new ways to increase the profitability of their hotels. Return on Investment is the objective of any hotel investment, so it is only logical that profitability and ROI will be emphasized going forward. Another trend is an expanded focus on direct hotel bookings. Revenue managers know that one way to increase profitability is to steer guests away from online travel agencies (OTAs) and book directly with the hotel. This tactic also reinforces brand identity and loyalty, and encourages repeat business. In addition, it provides a valuable platform to market the hotel directly to the customer, and to upsell room upgrades or other services to them. Another trend for revenue managers involves automation in their software programs. Revenue management systems with automation are far more desirable than those without it. Automating data entry and logistics increases efficiency, allowing managers to spend more time on formulating strategy. As a bonus, an automated system helps with aggregating and interpreting data. The October issue of the Hotel Business Review will address these developments and document how some leading hotels are executing their revenue management strategies.