Trouble With Your Property Taxes?
Falling behind on property taxes can be a stressful situation. However, there are steps you can take to address the issue and prevent further consequences with your hotel property. Here’s a guide to help you navigate this situation: 1. Understand the Consequences: Tax Liens: If you don’t pay your property taxes, the government can place […]
Boutique Hotels: A Fad, or Here to Stay?
Boutique hotels are a unique lodging option. Unlike many hotel chains, which may have hundreds or even thousands of rooms, boutiques are usually smaller, with between 10 and 100 guest rooms, and offer a specialized experience. They may offer specific themes, including quirky options that focus on trends, fandoms, or personal interests. Increasingly, many travelers […]
Hotel Loyalty Programs in 2024: Are Customers Still Committed?
Guest expectations are constantly evolving in the hospitality industry, and the competition is fierce. In the past, hotel loyalty programs have been a cornerstone of customer retention strategies. In 2024, a critical question arises: Are customers still loyal to hotel loyalty programs? As the industry shifts, hotels must adapt to new customer values and options […]
Hotel Industry’s EBITDA declined since COVID-19
The impacts of the COVID-19 pandemic cut across industries and sectors. However, the hotel industry bore the greatest brunt of the pandemic. From travel restrictions to misconceptions about the spread of the virus, hotel managers had to grapple with unprecedented business downturns. But how did these events impact the EBITDA of hotels? EBITDA and its […]
Should You Build an Extended Stay Hotel?
In the hospitality market, extended-stay hotel construction is booming. Lodgings Econometrics reports that over 1/3 of all hospitality constructions in Q1 of 2024 were extended stay hotels and an increasing number of hotel brands are branching out into extended stay in addition to their full-service hotel and resort properties. Future Market Insights reports that extended-stay […]
How To Elevate Food and Beverage Trends in the Hotel Industry
With the summer months approaching, hotels everywhere are looking to accommodate guests properly during the rising temperatures. Food and beverage trends in the hotel industry are shifting, so guests staying with the hotel decide to keep their dining experiences closer to their rooms and have more time for activities in the area. This is vital […]
What Are Some Summer Trends For Your Hotel?
As a hotel owner or manager, your goal is to attract more travelers and improve your occupancy rate. Each year, guests seek new and unique experiences. Of course, you try to start current and provide what guests want, but you need to know more about these summer trends for your hotel. There are some trends […]
Sustainability and Local Sourcing in the Hospitality Industry
In a world where tourism is growing tremendously, establishing sustainable local sourcing in the hospitality industry is no longer an option. The dire repercussions of a lack of sustainable local sourcing hospitality can already be felt across the global ecosystem, with the hotel sector accounting for around 1% of global carbon emissions, which will be […]
The Integration of Artificial Intelligence in Hospitality
As long as there has been technology, the hospitality industry has evolved along with it, and it’s no different with the latest and most significant advancement: Artificial Intelligence (AI). As predicted by hospitality industry trends, AI is continuously being adopted into different sectors across the hospitality industry as it improves. This largely comes from its cost-effectiveness, user-friendliness, […]
Finding the Right Broker
5 qualities that make for an effective partnership by Suraj Bhakta, CEO of NewGen Advisory Published May 2024 Understanding what you need from your hotel broker is paramount to securing a smooth transaction at an optimal price. Essentially, your broker is the captain of your transaction ship, and finding the right one can make or […]