In the hospitality business, selecting a competitive set to benchmark performance is a common task. Unfortunately, selecting the wrong set can have long-term consequences that may ultimately impact asset value. Operators and owners need a practical approach to determining an appropriate competitive set by using information and techniques that are readily available to them. This article outlines the key factors that should be considered when selecting a competitive set and provides helpful tips along the way. READ MORE

Federal, State, and Local government agencies offer a number of incentives to businesses. Some incentives are put forward to guarantee that developmental benefits will be sustained, other incentives support decreased energy usage in buildings to encourage investment in underdeveloped areas and to reward environmentally friendly building practices. These incentives can not only encourage you to increase your overall efficiency, but can reduce your out-of-pocket expenses. It's imperative that owners, designers, and project managers don't overlook these incentives, as they can add up quickly. READ MORE

Like other industrial sectors, the hospitality industry can catapult its sustainability efforts forward through expansion of its initiatives to its own global supply chains through Sustainable Supply Chain Management. The unique characteristics of the hospitality industry require its supply chain practices to be modified from those of manufacturing or retailing. This article addresses these unique characteristics and also outlines how redesigning buildings, processes and products will be necessary for any seismic shift in sustainable supply chain practices. READ MORE

Revenue managers squeeze every last dollar of revenue opportunity from each product - frequently managing dozens of rates over hundreds of days in detail. Automated revenue management systems have taken some of the burden from revenue managers, by producing analytically-derived rate recommendations and automatically updating selling systems. However, revenue managers still need to review recommendations and manually intervene when necessary. This detailed analysis is not only time-consuming, but it keeps revenue managers in the weeds, taking time away from strategic thinking. For hotels to survive and thrive, there must be a balance between driving short-term revenue and building sustainable long term profits. READ MORE

Global marketing content is an important part of how you communicate your hotel brand promise to customers while making sure it remains consistent from country to country. But a marketing concept that strikes a chord in one region won't necessary elicit the same strong response in a market thousands of miles away due to cultural differences. Transcreation allows you to re-create your marketing message so that it achieves the same impact in each target country. Today's hotel marketer should understand how transcreation works, what the process looks like and how it can actually strengthen a global hotel's core brand identity. READ MORE