Raising awareness of and gaining additional exposure for your property is one thing. Being able to prove the efforts behind such an increase in market visibility and occupancy is a direct result of a public relations campaign is quite another. The difference lies in identifying and tracking the effect of a public relations campaign on your business, and the biggest factor is measurement. Public relations is a powerful tool in the hospitality industry. From establishing or repositioning a brand to drawing attention to a hotel opening or the addition of a new amenity, public relations can be one of the most value and credible communications tools around. Not only can a well-executed public relations program raise awareness, but it also can be a highly influential force with current and potential guests. READ MORE
HOTEL BUSINESS REVIEW
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The current economic climate is undoubtedly influencing the way you do business and like many, you likely are looking for places to cut back. Marketing may seem like the best place to get started, but in tough economic times it is more important than ever to keep the lines of communication open on all fronts. If you stop communicating and differentiating your organization, you risk joining the ranks of hotels viewed as commodities. Once that happens, it is very difficult to remove the label and revive your brand. In this article, I explore ways to position your hotel as a must-visit destination in cost-effective ways. READ MORE
Building a reputable hotel brand goes beyond the everyday service and hotel atmosphere. The real success comes when your brand also grabs the attention of the media. Having a media kit available for inquiries is crucial. Fresh publicity materials ensure relevant information is readily available - on hand and online. READ MORE
While swine flu is a significant health threat, if we are armed with the knowledge about what it is, how it is transmitted, and what is being done to combat the threat nationally and globally, we can be better prepared to deal with this crisis. Additionally, there are concrete steps we can take to ensure our personal safety and health, and the continued vitality of our business operations in the event of an influenza pandemic. Read on for a thorough explanation of the swine flu and how the travel industry can prepare themselves for the worse case scenario. READ MORE
Purchasing business insurance in today's economy has grown to be a large ticket item on businesses' increasing budgets and diminishing bottom lines. As complicated as insurance coverage can be, the process of choosing a broker can make it even more difficult. With insurance rates drastically fluctuating, more businesses are reviewing their current policies and weighing all options - including whether to keep their current broker or look elsewhere. The following are several essential guidelines to help you become a better informed buyer for selecting the right broker. READ MORE
Considered to be a luxury service to the hospitality industry, most hotels, restaurants, airports and even banquet halls, include the service of valet parking. Although this is a value-added service to your clientele, its ultimate costs and risks are a growing concern for the hotel or restaurant owner. While some establishments choose to employ their own staff as attendants, more are leaning toward contracting outside firms who use their own employees. Although outsourcing this risk does lessen some of the liability headaches, both in-house and outsourced services have the same everyday problems that may ultimately end back up on the establishment's doorstep. READ MORE
- Insurance
- Certificates of Insurance Can Be Dangerous to Your Health: Know What They Are and What They Cover
Buying Business insurance for any business is a complicated process. Whether you're a small entity with one location or a multi-national corporation, insurance is never a topic of likeability. Encompassing a language of its own, insurance has defined itself to be understood only by the few and mostly by those that are in the industry or working directly for it. Those of us who have had the pleasure of learning about insurance have been educated more or less through the process of trial and error, prior claims and their brokers understanding of their clients need base. While the diversity of types insurance is endless, one common factor remains true with all businesses, the necessity to provide proof that they are in compliance with their insurance responsibilities. Whether it is workers compensation, general liability, directors and officers or property coverage, no business can escape the obligation to be able to produce a Certificate of Insurance. READ MORE
- Environment & Sustainability
- Tourism's Future Leaders: Preparation for Responsible Leadership through Responsible Travel
Shortly after 9-11, in an address at Georgetown University, former U.S President Bill Clinton said: "Don't you think it's interesting that in this the most modern of ages, the biggest problem is the oldest problem of human society - fear of the other. And how quickly fear leads to distrust - to hatred - to dehumanization, and to death." Travel is the best and truest form of one to one, people to people diplomacy with the potential to shatter the isolation and fear of the other to which President Clinton refers. In its most authentic form, it serves as a means of dialogue at a personal level, providing us with the opportunity to experience the welcome and hospitality of other peoples and cultures, their human values and qualities, their kind deeds, and what is different in their lives. READ MORE
"The trend has greatly increased in the past year or so and the absence of available financing has caused it." - Charles Reiss, a pioneer in the business who started working on condo hotel projects several years ago as part of the Trump Organization, also previously President and COO of the Sunshine Group. As an active advisor to clients in the hotel debt and equity capital markets, I find the above statement particularly troublesome. It is no secret that hotel capital, both debt and equity is abundant in part due to relatively healthy lodging fundamentals, drastically reduced hotel loan delinquencies, positive forecasted investment returns especially relative to other commercial real estate sectors and potentially a longer hotel investment cycle due to predicted lower supply growth. If creative financing or a lack of alternate financing is the impetus behind the condo-hotel craze, this is pause for concern in light of the superabundance of capital in the market. Before reading further, it should be noted that condo-hotels can and do work in certain circumstances. Such circumstances are few and far between to warrant the type of attention that has been droned on this niche within the lodging sector. READ MORE
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
- Revenue Management
- Is Your Hotel or Restaurant Insurance Adequate? Twelve Tips to Get the Right Coverage & Reduce Risk
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
Men's increased interest in their appearance offers significant sales opportunities. A new generation of men for whom image has been important since their teenage years, is now entering its thirties. There is much evidence to support the rise of male grooming across the world. Comparisons of sales data regularly shows that male grooming is growing faster than other segments of the beauty market. The main beneficiaries are product retailers, and in services hair salons, gyms, cosmetic laser clinics, and cosmetic surgeons. Products suppliers report that the male grooming market is no where near saturation point READ MORE
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