If your gut reaction to paying an 8%, 7%, or 6% cap rate or even less is one of nausea, you have probably been comfortably sitting on the sidelines over the past couple of years. Today's capitalization rates can not be viewed in a historic vacuum. A confluence of three forces has driven hotel valuations to where they are today... How long capitalization rates remain this low is a function almost entirely of what happens in the US Treasury market, assuming the operating environment continues its robust forecasted growth and supply remains constrained by historical standards due to higher real construction costs. READ MORE

In the last several years, the dramatic rise of insurance costs has placed an excessive burden on hotel and restaurant owners. Fortunately, the forecast for the 2007 insurance market remains optimistic with more insurance companies willing to compete and many offering broader coverage terms. As new markets become available, industry analysts advise caution. They recommend hotel and restaurant owners re-examine their existing management programs and develop initiatives to reduce the overall cost of risk. The following outlines a series of twelve tips to help you re-examine your insurance program, its depth of coverage, and related risks. READ MORE

It all starts at the top. Hotel organizations that lead the future of seamless customer care strive for continual improvement and adaptability. The vision and intent that filters down from upper management provides integrative processes in a more decentralized organizational format and the hotel spa becomes an integral part of this scene. When a spa director or manager clearly understands the intent of the organization, they are able to lead and motivate their team to success. READ MORE

What truly motivates a person? You won't really know unless you ask. Too often managers spin their wheels trying to think of ways to motivate their teams and often miss the mark. You might be surprised to know that money is not the driving force, especially once it's spent and gone. People want to be recognized, respected, included and supported. A collaborative style of management can go a long way in getting your spa team to step up to the plate and perform in ways you never imagined. This article explores areas that are not new when it comes to motivation but instead reviews what we most likely already know but aren't putting to use to the degree that we could or should. READ MORE

Due in large part to Governor Davis' efforts to retain his job, none of his selected lobbyist and interest groups were "left behind" at the conclusion of the 2003 legislative session which resulted in passage of a whole raft of labor-related legislation. These new laws impose additional costs and obligations on California employers who opposed such obligations, because of the challenging economic environment-among other reasons. Prudent employers will want to consider reviewing and modifying their polices and practices to ensure compliance with these new laws and to deter and defeat any claims based thereon. These and other important changes and strategic actions for compliance are set out below. READ MORE