Hotel operators considering new construction, expansions or major renovation projects are now in the best economic environment in recent memory. That's good news for independent properties in need of expansion or upgrades as well as for larger brands with extensive capital needs across their portfolios. Where the traditional sources of financing were equity participants and banks (which usually required significant equity investment before they would lend money), today we are seeing considerable interest among investment banking firms, pension funds, mutual funds and other entities which have not been as active as the hotel market. But with limited vehicles for delivering the kind of returns they need, these investors are starting to look at hotels as an opportunity with great potential. READ MORE

How do you make your project a reality in the face of organized opposition? Preparation at the outset is one of the keys. Property owners can't simply design the project they think is best and expect to put their heads down and push it through. You need to do your due diligence and truly understand the issues that are likely to arise. Retain local consultants, experts, attorneys and public relations people if necessary to provide insights into the issues the community considers important and where the obstacles are likely to lie. READ MORE

With the first of America's 78 million Baby Boomers turning 60 this year, the hospitality industry is bracing themselves for the onslaught of active senior travelers, as well as a plethora of executive positions to fill, both in the hotel business, as well as in corporate America in general. In fact, nearly 8,000 boomers are turning 60 on a daily basis, according to U.S. Census Bureau statistics. What needs to take place to ensure the successful transition of our retiring Boomers and the next working generation is education. Education comes in multiple forms whether its continuing education, succession planning and training or development of formalized mentorship programs. READ MORE

Developers are increasingly finding alternative uses for their hotel properties, including condominium conversions, fractional, condo-hotels, extended stay and other alternative uses to the traditional hotel. Whether to convert a hotel to another use depends largely on market factors. In the past few years, we have seen many hotels being converted to residential condominiums. We are now starting to see conversions of commercial office space to hotels. Conversions raise a myriad of property, regulatory and zoning issues. Developers often overlook the labor and employment aspects of such transactions and conversions. Conversions of hotel properties are far more complex transactions than a traditional real estate transaction. Hotels are the most labor intensive of all commercial real estate uses. If not handled properly and in a timely fashion, labor and employment issues related to a hotel conversion can derail or significantly delay any contemplated change in the use of the hotel property. READ MORE

Over the last 10 years, many things have changed conference and convention attendees' behavior - the way they travel, and the way they conduct business from the road. Further, there is no question that the rapid advancement of technology has also had a great impact on the way a conference or convention actually operates. Let's take a trip back not too many years ago when an overhead projector was a commonplace presentation tool. Those days seem like ages ago but in reality, not too many years have passed. Now presentations are turning into a form of entertainment. Presentations today involve a wide variety of up-to-the-minute technology that every Convention Service Manager (CSM) and Meeting Planner needs to have a working knowledge of. READ MORE

When people think of public relations, they automatically think "Oh! That person can get me on Oprah!" While someone like Oprah can make you, it's very rare for a company to be on her show, unless it's a company owned by a celebrity. You must think about targeted trade publications and reporters at your daily newspaper and business journal. You also must think about additional tactics you can do that are directly translated back to sales. READ MORE

All businesses depend on employees to deliver quality service. For most businesses, improving customer service levels is more important than providing a good product. It is wise to remember Sam Walton's famous adage, "There is only one boss, the customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else." Research clearly shows a link between employee performance and customer satisfaction. Put in the reverse, your customer satisfaction level accurately reflects your employees' performance. Thus, who better than your customers to let you know how effective your internal processes are at providing the appropriate levels of customer service? READ MORE

More than a century ago, author Wendell Phillips (1811-1884) reminded us that "we are all wholesale borrowers. In every matter that relates to invention, to use or beauty or form, we are borrowers." Translating into today's highly competitive hotel world, you do not have to literally re-invent the wheel to innovate. With the trends to guide you, you can turn to the twist principle and bend the trend around your hotel's promotions, or you can tweak some aspect of your hotel to build your guest base. In either case, you will develop a product or service that will be right for the time, the place, and the target market. READ MORE

With today's advanced technology, there is no longer a need for your sales team to spend time engaging in lengthy RFP responses for simple meetings for up to 100 participants. Through the use of a web based meeting booking engine, customers and meeting planners can now literally search , compare live quotes and request bookings that include meeting space, catering and amenities themselves. This means hotel sales teams can focus on customers who have already been pre qualified on budget, timing and space needs. This article shows you how to reduce sales and marketing costs associated with meetings up to 100 participants, while serving these high value, customer relationships. READ MORE

Residential trends and spa environments lines of demarcation are blurring. Destination spas Such as Mirival, Canyon Ranch and Red Mountain Resorts, are creating residential components highlighting their consumers' desires to have easy, immediate and equity access to a spa lifestyle. Destination resorts with full-service wellness spas like the Montage, La Costa, and the Four Seasons are creating residential components for much the same reason. And to round out the picture private communities such as Big Horn, Laughlin Ranch, and Kiawah Island are developing wellness environments to enhance their residential communities. READ MORE

Prior to starting my health spa consulting firm, I was the spa director for glamorous celebrity filled world renowned spas. Being a director of a spa encompasses a myriad of responsibilities, most important of which may be the personal meeting and greeting of guests utilizing the facility. Of course, guest service and care is vital to the success of a spa, and if your spa caters to a sophisticated market, then meeting these guests' expectations can be a bit more challenging. But, has anyone ever revealed what really goes on inside a spa? Here's a peek at some of my experiences behind those tightly closed doors, no names, of course! READ MORE

This new "medspa" category is growing - strongly. In the USA, the most developed medspa market, the numbers more than doubled between 2004 and 2006. And in barely more than a decade medspa dollars went from zero to over one billion dollars a year. (There is as much conflict about market sizes as there is about definitions.) The medspas are themselves but one segment of a relatively new category, the day spa. Currently in the USA, revenues in 14,000 "spas" are over $12 billion a year. The spa market is growing faster than wider professional beauty services market. Indeed spa revenues compare to the $60 billion revenues in about 313,000 hair salons/beauty salons in the USA. READ MORE

For all of us, communication - both verbal and non-verbal - is an integral part of our daily world. And as the world moves faster, as our fingers do the talking, and as the sense of urgency drives our ability to knock out scores of brief, electronically transmitted messages daily, some of the valuable communication skills that our moms taught us run the risk of being overlooked. Earning an intangible Ph.D. from Mom's School of Communications, and then taking those well-honed skills out into the marketplace, can be the single most influential factor affecting a business relationship. READ MORE

Planning and executing a valuable meeting while adhering to a reasonable budget is the goal of every meeting planner. To accomplish this, many turn to Complete Meeting Packages (CMP), the conference center's niche total pricing structure which allows clients to budget an event with confidence, while offering options ranging from budget to upscale. However, today's meeting planners are savvier and striving to find unique venues or add-ins, such as an out-of-the-box team-building activity, when planning their upcoming events. READ MORE

This year is going to be one of the most exciting times in the meetings and conference industries to date. With all the changes taking place, it can also be daunting if you're not on top of the competitive arena. The following article outlines some of the most significant trends and opportunities in the industry as projected by myself and my team at ARAMARK Harrison Lodging, a leading provider of professional services to 50 conference and corporate training centers, specialty hotels, national and state parks, resorts and other tourist destinations throughout the United States. READ MORE