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How to Make Restaurants & Menus Appeal to Millennials
By Elizabeth Blau, Founder & CEO, Blau & Associates
As the fastest growing consumer group today, Millennials are becoming increasingly influential on the way we operate our business – for the better. They are making their purchasing decisions based on a holistic and lifestyle changing approaches to their wellbeing. One central theme that seems to have encompassed this generation is the need for healthy food and fresher options. Every generation leaves its mark on society and Millennial’s “you are what you eat” mentality has spread like wildfire, forcing society to re-think what it means to be healthy. We’ve been listening, and taking notes every step of the way.
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| TRENDING THIS WEEK |
6 Essential Electrical Solution Tips Every Hotelier Must Know
By Nancy Snyder, Senior Manager of Hospitality Sales, Legrand North America
In a world of constant connection, hotel properties can no longer ignore the prevalence of mobile devices and connectivity. With eighty-five percent of travelers bringing their smartphones on leisure trips, eighty-eight percent bringing it on business trips and eighty-two percent bringing laptops on business trips, connectivity is no longer a convenience, rather a necessity. Easy-to-access outlets and USB ports for charging and smart lighting controls are imperative for enhancing today’s hotel spaces. Hotel decision makers need to keep guest preferences top of mind, install smart lighting and have ample access to power both inside and out – all which can improve guests’ overall experience.
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DAILY HEADLINES - Tuesday Aug 14, 2018 |
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Hotel Newswire Top Pick
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A Hotelier's Guide: Managing U.S. Lawsuits from the Caribbean
By Bruce Liebman, Co-Managing Partner, Kaufman Dolowich & Voluck LLP
Most of the projected growth in the Caribbean region is expected to come from foreign visitor spending and the United States has remained the most important supplier of tourists to the Caribbean region. However, what happens when these foreign visitors return to the United States and bring lawsuits against the resort in their home states? Defending lawsuits throughout the 50 states is financially and logistically burdensome. This article offers best practices for hotels in the Caribbean to protect themselves from claims brought in the US, preemptive measures and how to get the lawsuits moved to their home turf.
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More from our online Library Archives... |
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Hotel Performance Metrics: Net Operating Income Forecasts
By Bram Gallagher, Economist, CBRE Hotels' Americas Research
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. The inverse is demonstrated for occupancy retrenchment. Forecast values of occupancy and ADR can be applied to the model to produce a forecast of NOI.
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Having Trouble Communicating? Understanding the Millennial Mindset
By Cara Silletto, Founder, Crescendo Strategies
Ever wonder what planet your new hires are from? For most, it is called Millennialland. It is my homeland, and it is a whole different world than where Boomers and GenXers were born. So why are your younger workers from this strange land so hard to understand, manage and retain? Why is it that they lack the loyalty of those who came before them? Why do they need so much handholding in the workplace? And where does this tremendous sense of entitlement come from? Being born in a certain generation does not give everyone in that cohort the same personality. It is more about the fundamental similarities they hold due to the time in which they grew up, and the way their parents raised them. Allow me to explain.
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Outsourcing Increases Sustainability Through Volume Production
By Joseph Ricci, President & CEO, TRSA
Resource conservation is becoming more of an economic necessity than a choice in hotel business practices as the cost of water, energy and other supplies rises. Laundry operations represent a fertile frontier for such improvement. Using mass-production technologies easily accessible via outsourcing decreases a property's carbon footprint thanks to water and energy conservation in linen processing. Ensuing labor savings from this greater mechanization add to this economic benefit. TRSA aids hotels in locating high-efficiency outsourced linen, uniform and facility services through its Clean Green certification program and provides a published guide to finding certified green suppliers of all kinds of products and services needed for hotel operations.
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May 2019: |
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Eco-Friendly Practices: Corporate Social Responsibility |
The hotel industry has
undertaken a long-term effort to build more responsible and socially conscious
businesses. What began with small efforts to reduce waste - such as paperless
checkouts and refillable soap dispensers - has evolved into an international
movement toward implementing sustainable development practices. In addition to
establishing themselves as good corporate citizens, adopting eco-friendly
practices is sound business for hotels. According to a recent report from
Deloitte, 95% of business travelers believe the hotel industry should be
undertaking “green” initiatives, and Millennials are twice as likely to support
brands with strong management of environmental and social issues. Given these
conclusions, hotels are continuing to innovate in the areas of environmental
sustainability. For example, one leading hotel chain has designed special
elevators that collect kinetic energy from the moving lift and in the process,
they have reduced their energy consumption by 50% over conventional elevators. Also, they
installed an advanced air conditioning system which employs a magnetic
mechanical system that makes them more energy efficient. Other hotels are
installing Intelligent Building Systems which monitor and control temperatures
in rooms, common areas and swimming pools, as well as ventilation and cold
water systems. Some hotels are installing Electric Vehicle charging stations,
planting rooftop gardens, implementing stringent recycling programs, and
insisting on the use of biodegradable materials. Another trend is the creation
of Green Teams within a hotel's operation that are tasked to implement
earth-friendly practices and manage budgets for green projects. Some hotels
have even gone so far as to curtail or eliminate room service, believing that
keeping the kitchen open 24/7 isn't terribly sustainable. The May issue of the
Hotel Business Review will document what some hotels are doing to integrate
sustainable practices into their operations and how they are benefiting from
them.
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Guest Service: A Culture of YES
