Transforming a Hotel into a Lifestyle Brand
When it comes to selling services or products, it’s nothing new that you, as the owner, would want to turn it into a brand that people from different parts of the world would recognize. This happens even to those who own property assets such as hotels. You’d want your accommodation to be so remarkable that […]
Marriott to Open More Than 1,700 Hotels by 2021
Hotel giant Marriott outlined a three-year plan to launch more than 1,700 hotels all over the globe. They also aim to return up to $11 billion to shareholders and intend to make a full-year profit of about $8.50 per share by the time 2021 rolls in. Closer Look into The Numbers The brand already owns […]
Accurate Forecasts for Hotel Revenue
Accurate forecasts are an essential part of revenue management for hotels. Property owners who have adopted a more holistic approach to revenue strategy will find that it makes it easier to align departments when the data, goals, and metrics are on the same page. Improving Forecasts Aside from a holistic approach, one way to ensure […]
5 Major Hotel Trends for 2019
Hotel ownership is an excellent revenue source. If you’re looking for ways to diversify your portfolio, then investing in a hotel property can be the right financial decision for you. Before you talk to your hotel brokers, read up on the following major hotel trends for the year. This can influence you in the kind […]
U.S. Department of Labor Releases New Overtime Rule
More American workers may qualify for overtime pay this year. Under the current enforced law, only employees with a salary below $455 every week are eligible for overtime pay if they work more than 40 hours a week. The Notice of Proposed Rulemaking announced by the U.S. Department of Labor may make that happen. What […]
Standard Hotel Group Raises $5m For New App
The Standard International’s hotels have always been a byword for trendy rooms and late-night party spots. Now, it sets to add incubator to its list of accomplishments, as Standard Hotels launches a one-night booking app. Not Pay-Per-Minute The mobile app was launched in 2016 and has a list containing over 200 hotels open for clients […]
Global Hotel Investment Volume Prediction: $67B
Global Hotel Investment Volume Prediction: $67B Could 2019 possibly be the year for hotel investments? Studies say, yes. The market is ripe for the hotel industry, which makes it the perfect time to start investing in properties. There are plenty of opportunities for investment, given the rise in capital flows from all over the world, […]
2018’s Hotel Profit Plunge
Has business been feeling slow lately? Despite the influx of customers, has it been more difficult to breakeven? Don’t worry. You’re not alone. 2018 wasn’t a good year for business, particularly in the hotel industry. Recent statistics show that there was a hotel profit plunge by at least 5%. The factors which led to the […]
Hospitality at its Finest – How Hotel Owners Can Strengthen Employee Engagement
The key components to helping a business succeed in the hospitality industry is a smart financial plan, a solid background in the business, and perhaps most importantly, a stellar staff. Having employees who know how to do their jobs and excel at them pays off more than you might even realize. Here are a few […]
Five Things Every Hotel Lender Wished Borrowers Did
Now is the best time to refinance hotels. But while conditions are ripe for borrowers, that does not automatically mean that your application will be approved. Before you go to a lender, here are five things you should do—or what are essentially five things every hotel lender wants you to do before you submit your […]