Freelancers and independent contractors are at the forefront of the New Economy. Hotel executives have the opportunity to work with members of this global network of experts and professionals. This movement benefits employers and employees alike, enhancing quality and increasing efficiency. These benefits can be an advantage for the hospitality industry as a whole, as talent expands and choice grows at an exponential rate. Seizing this chance to innovate is one that hotel executives can leverage regionally, nationally or internationally. These facts illustrate the strengths of the New Economy and its worldwide influence. Welcome to the beginning of a new chapter in business leadership. READ MORE

Due to the exponential growth of digital media, how we plan and book our vacations has changed dramatically over the past two decades. The environment is constantly evolving; with an increase in the use of mobile content being amongst the most recent advances. Travel Public Relations firms can help you to remain fully informed about this rapidly-changing landscape. Magazines, guidebooks and newspaper supplements were once seen as the ultimate authority on travel. But now the biggest touchstones also include online reviews, travel websites and blogs. READ MORE

The matters weighing on the minds of hotel and resort owners and operators are many: average daily rates, occupancy levels, market penetration, revenue generation, operating costs, growth trajectories, tourism trends, customer service demands, real estate concerns, budget constraints, inventory management, cyber security and effective marketing strategies are a few of the major ones. Labor and employment issues are an unusually significant source of concern for hotel executives as well, demanding a disproportionate amount of their attention given the burdensome legal requirements imposed upon employers. READ MORE

Revenue management has come a long way since its early days of basic yield management. Many consider 1989 a pivotal turning point when revenue management became a permanent part of hotel management and not just a passing trend. With advancements in market data, decision science, and technology, revenue management continues to evolve. This is especially true of the groups and meetings segment, where revenue managers are using market data and advanced analytics to inform their actions, hone sales strategies, and unite sales and revenue management toward a common goal. READ MORE

Revenue managers are increasingly interested in the potential for alternative performance metrics to give a better understanding of profitability than RevPAR. In this paper, I describe an NOI metric CBRE Hotels' Americas Research is developing to give a better understanding of the relationship pass-through performance has with occupancy. To produce this metric, I estimate expenses and revenues from all sources separately with an econometric model. The difference of the sum of expense from the sum of revenues is the NOI. I demonstrate that when occupancy is increasing, revenues grow more quickly than expenses, and NOI growth exceeds RevPAR growth. Take a look… READ MORE