How Hotel and Retail Brands are Joining Forces
The growing trend of convergence between retail and hospitality isn’t anything new. Hotel brands that work with retail brands provide a personalized experience for customers, draw in more bookings, create a better brand value, and have higher returns. Finding the Right Fit Hotel property owners or investors in hotels need to find retail companies with […]
U.S. Hotel Profits Hit Record High in 2018, Even as Labor Costs Rose
While expenses for hotel businesses continue to rise, 2018 turned in stronger profits than expected. That bodes well for the future of hotel owners and investors. Uptrend Profit Growth Maintaining profitability will prove to be a challenge for hotels as flattening occupancy levels and low unemployment will likely get in the way of achieving gains. […]
Online Ratings and Hotel Investments
Star ratings matter. In an age where consumers check reviews and feedback online before they buy a product or try out a service, ensuring that your property consistently has high ratings can draw a lot of customers to your doors. With plenty of review sites such as Bookings.com, Hotels.com, Expedia, and more, people have a […]
New Hotel Supply and Strong Economy Influence Hotel Forecast
Experts in the hospitality industry foresee a strong performance for U.S. hotels in 2019. Property owners and those looking to invest will not need to worry about new rooms added to the market because demand will continue to overtake supply. Hotel Occupancy Increase Hotel occupancy levels in the U.S. are expected to rise to about […]
Hotel Finance: Attrition and Cancellation Fee Revenue
Rising costs mean that a lot of hotel property owners are finding ways to better manage their finances-such as imposing attrition and cancellation fees. Why it’s Happening A lot of the available online booking programs make it easy for consumers to book multiple lodgings and then cancel before the period where cancelation fees apply. This […]
Guest Ratings Hold More Weight Than Brand Value
Buying a hotel can be a brilliant investment move. However, finding the right hotels for sale can present quite a challenge. One of the many factors you’ll need to take note of are the guest ratings of the property. Guest Ratings Over Brand Studies show that consumers are putting more weight in guest ratings and […]
For in-Room Technology, Look to the Living Room
Connected technology is quickly becoming the newest addition to hotel guest rooms. By investing in multiple device integration with in-room technology, hotels will start to see the benefit of building a technology ecosystem, one that’s going to improve guests and the hoteliers both in the long term. Intertwined Technology As more and more of in-room […]
Back to Basics: Elevating the Guest Experience Starts with Mastering the Essentials
The hotel industry is booming. More people are traveling and they’re happy with the accommodations they’re getting. At the rate it’s going, we can only expect the industry to grow even bigger. This begs the question: now that most of our guests are satisfied, how can we give them more? This is perhaps the question […]
First Opportunity Zone Project Breaks Ground
The first opportunity zone project breaks ground in Phoenix, with the development project on the 130-room Springhill Suites by the Marriott in the suburb of Avondale, spearheaded by Virtua Partners and Hotel Equities, its hotel management affiliate. Opportunity Zone Investing Efforts in the area continue to be geared towards providing affordable housing in underserved communities, […]
Deloitte: CFOs Anticipating a Slowdown, but Not a Recession
While the economic outlook continues to be positive, the CFO Signals points out expectations for a slow-down by the end of 2020, one that could lead to the softening of lodging-industry fundamentals in the short term. Not a Recession Expectations run to a deceleration of U.S. economic activity by the end of 2020. However, industry […]