According to Smith Travel Research, “The outlook for 2010 looks slightly better than 2009, but the industry still is expected to end 2010 with decreases in all three key metrics. Occupancy is projected to end 2010 with a 0.6-percent decrease, ADR is forecasted to end the year with a 3.4-percent decrease, and RevPAR is expected to end with a 4.0-percent decline.” Although this outlook is less than optimistic, there are strategies that can be implemented to turn your business around regardless of your base of business. This article will address the key components to put your property(s) on the path to success in this new economy and maintain success regardless of market conditions. READ MORE

While some signs of economic stabilization have started to emerge, many hotel workers are still handling heavier workloads due to downsized staff levels - a stressful situation that can result in worker burnout. As a hotel leader, it's essential to closely monitor your staff and make an effort to reduce burnout and promote healthy work/life balance. This article offers five solutions to help your hotel workers manage these challenging times, so that they can keep stress levels low and productivity high. READ MORE

When it comes time for hotel owners to sell their businesses, they'll often rush to make improvements to make their establishments more appealing to buyers. While it is sometimes possible to make "quick fixes" to make a business more appealing to buyers, the hotel owners who have the greatest success selling are the ones who have taken the necessary steps to improve their businesses all along the way. In this article I discuss five important questions hotel owners should ask themselves - whether planning to sell soon or much later down the road - to ensure their business is fit for sale. READ MORE

Fractional ownerships have emerged as the hot new trend in the hospitality industry. Fractional ownerships enable multiple individuals to own a specific piece of real estate in common, with each holding a deed for an undivided share in the property that may be bought, sold, traded, or bequeathed like any other real estate asset. In addition, much like a timeshare, each interest entitles its owner to possession of real estate for a certain amount of time each year. However, in timeshares, the "owner" typically purchases only a contractual right to occupancy, not an interest in real property. Thus, the critical difference between the two concepts is in the nature of the investment. READ MORE

The trend over the past few years has been for more colleges and universities to add lodging products to their campus community. Some of these are single use facilities dedicated to executive education and weekend MBAs. Many are mixed use facilities that cater to all of the university departments and administration. Many of the departments on campus will have lodging and meeting needs. It is intended that these facilities serve as the front door and the living room of the campus. One of the keys to the success of these lodging facilities is that the operator fully embraces the philosophy and mission of the campus. READ MORE