Library Archives

 
Joshua Miller

While hotels spend tremendous time and energy looking for strategic ways to make the most of their operation, they often fail to look at the fact that the property sits in the middle of a large parking facility. This facility often takes up as much real estate as the hotel itself, but because parking is outside of the core focus of the industry, hotel parking facilities are rarely strategically managed. Utilizing an asset management approach for parking is equally as effective as it is for rooms income, and can often make a significant improvement to an asset's overall value. Read on...

Arthur Weissman

Becoming green is not a one-time thing: it requires a concerted effort over time from a number of people and departments. This article will outline some recent trends in developing an environmentally responsible corporate policy, the steps to build a green program in a property or group of properties, and information about what should be covered by written policies and procedures. Read on...

Gini Dietrich

No longer are hotel goers "thinking big" when they book their reservations. Small, themed, and unique hotels frequently steal guests from the most luxurious of hotels. Whether large or small, the difference between a successful hotel and one with far too many vacancies often is simple - a solid public relations plan that delivers essential information to entice potential guests. A strong public relations plan complements your business goals. By increasing brand awareness among targeted groups of prospective guests, you can grow sales and revenues. Following a precise public relations plan including contributes to the goals of any hotel owner. Read on...

John Ely

This article provides just a few ways to help promote your hotel's brand by utilizing the reservations staff - there are many more. The Internet has changed the way we shop and research services and products. It represents a better opportunity to promote your brand than the old days when mass advertising was all that existed. Remember, even with online booking services, many potential guests still make a call into the property to learn more. Either way, by personalizing the experience you can raise your chances of landing that prospect. Read on...

Brenda Fields

The advancement of technology has made the world a smaller place. Movies, television, and now the Internet have created a world which has fostered a better understanding of and access to different cultures. But, does this familiarity and exposure lessen cultural characteristics or nuances? Is it correct to assume that this familiarity creates instant purchases of your product? And does this also ensure that your product will be selected over your competition in these markets? This article will address key components to consider when planning and implementing global marketing campaigns or initiatives or in just reaching specific international markets. Read on...

Marjorie Silverman

There is a hush in the concert hall. All the players are in place. Our talented concierge maestro pauses for a moment reflecting on the complexity of his performance depending on so many others to make it happen. He raises his baton with humility, confidence, finesse and pride; he knows when to call on the strings, the brass, the woodwinds and the timpani. The global concierge chorus is ready to sing. They all acutely feel the expectations of the sophisticated audience and together they are ready to dazzle with their music. Read on...

Richard Dahm

As oil penetrates the $130-a-barrel mark and natural gas prices increase to rates four times what they were since the late 1990s, the use of green building (or building green) has taken seed to a new beginning to reform the cost of energy across all sections of industry. Green building is no longer just another popular cause or fad; it is here to stay as a vital and profitable part of the commercial real estate and construction industries. Anyone in the building trades or anyone involved with real estate investing or leasing needs to understand fully -- green building trends, opportunities, and consequences that can affect all areas including building codes, insurance rates, employee health, customer satisfaction, and more. This article will set out to serve as a survey of the important fundamentals and forecasts of what has happened and what will happen going forward in the efforts to build a green environment. Read on...

Kurt A. Broadhag

Hotel fitness centers are no different than basic health clubs when it comes to decision making on equipping their facilities. Major prohibiting factors including space and budget limitations require management to make smart choices on equipment procurement. These choices are influential in determining equipment quantities and quality with defined specifications unique to each setting. Taking time to research proper selection early on in the design process will not only save money and reduce liability long-term but will allow hotel operators to develop their fitness center around the guests needs. Read on...

Gavin Davis

The past three years have seen the lowest borrowing rates for real estate in the last 40 years. For the hotel industry, this was particularly fortuitous given the rapid decline in property values following general economic and industry business deterioration. The U.S. appears poised to be coming out of one of the best interest rate environments of our lifetime, where we saw the Federal Reserve cut the Federal Funds Rate by 500 basis points from 6.00% to 1.00% in a total of 13 rate cuts over 30 months between January 2000 and June 2003. Read on...

Lori Raleigh

At the recent Americas Lodging Investment Summit conference there was quite a bit of good news - the industry has just finished up the year with record profits for 2006! Transition dollar volume is also at all time high and 2007 is expected to be another record year for RevPAR growth, industry profits and transactions. There was also some not so good news - supply growth is escalating; the rate of RevPAR growth is decelerating and there has been a significant decline in international business (as a percentage of total demand). Additionally, many hotels are facing increased expenses and human resource challenges. And there are also many areas of uncertainty. What does this all mean in terms of where we at in the investment cycle? And where do we go from here? Read on...

Blake Suggs

In a tough economic time, it is of vital importance to discuss methods that will not only help you avoid slumping sales, but also to help you grow your business. There are six specific tactics I discuss in this article, from details on how to utilize natural and local search offerings to the importance of building the top of your funnel for your long-term growth. This list is by no means meant to be a comprehensive guide to running a recession-proof online program. However, these are the first steps you can take to ensure the health of your business, now and to come. Read on...

Jane Segerberg

Haven't spas been around long enough that we know what they are? Why is it important to answer the question? And, even more emphatically, "Why do we care what a spa is"? The understanding can help properties develop, renovate or evaluate their spas or spa plans to produce a more successful spa business. The pasteighteen months have certainly had the hospitality industry scrambling, and at the same time; scrutinizing, evaluating and reflecting on what is valued by our guests. Don't stop here - read further to gain an understanding of 'spa' Read on...

Mike Handelsman

Hotel owners can face tremendous pressure when selling their business, which may prompt them to market the business through all possible channels. Sellers must remember, though, that confidentiality is crucial to ensuring that vendors, partners and customers stay on board as potential buyers become interested. Revealing that your business is for sale can have major repercussions that could impact your bottom line and the ability to secure an interested buyer. There are a few ways to keep your sale confidential, however, while still exposing the right information to potential buyers and maximizing the sale price. Read on...

Elaine Oksner

Today's hospitality world presents a constant ebb and flow of sales and marketing challenges, especially with recent changes in the economy. With that in mind, there may be people on your hospitality team who present an undiscovered sales and marketing resource. Savvy hoteliers can make a strategic move in their overall sales strategy by harnessing the power of the concierge position. Before I tell you how and identify six ways to maximize this often underused resource, let me explain why this strategy will work. 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...

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Coming up in February 2020...

Social Media: Social Listening Tools

The reach and influence of social media is staggering. Nearly 3 billion people use social media daily, posting a range of messages, selfies, images, and everything in-between. According to HubSpot, almost 4 million posts are uploaded to the major social networks every single minute! That's an astounding amount of content and it is crucial for hotels to skillfully use social media in order to effectively compete. From establishing a suitable brand identity and voice to creating content across all the major networks (Facebook, Twitter, Instagram, Pinterest, etc.), the goal is to actively engage consumers and to eventually convert them to customers. Some hotels are initiating online contests as a way to attract new customers, while others are rewarding customers with discounts who subscribe to the their email lists or follow their social media pages. Another recent strategy is to employ social media listening tools that track what people are posting online about their businesses. These tools allow hotels to monitor - or listen to - what's being said about a brand across the entire social web, and this can prove to be very valuable, unfiltered information. Social listening permits hotels to be aware of people's opinions about their business, industry or competitors, and some of these tools even listen beyond social media platforms. They also monitor publicly available information on blogs, forums, news outlets and websites. Some listening tools are more focused on gathering and analyzing data, while others offer more engagement-oriented features, which allow hotels to interact with people right from the platform. Often the information that is gleaned from these listening tools ends up being the most authentic, unbiased insights a business can get. The February Hotel Business Review will document what some hotels are doing to successfully integrate social media strategies into their operations.