Exploring Hotel Conversion Opportunities: A Guide for Hoteliers
The landscape of real estate and property development is continuously evolving, presenting new opportunities for investors and property owners. One such innovative approach is hotel conversions, where existing hotels are transformed into student housing, apartments, shelters, etc. This guide will delve into how you can determine if your hotel holds potential for such a conversion, […]
Navigating the Rising Costs of Hotel Insurance
In the complex world of hospitality, hotel insurance stands as a crucial but often burdensome expense. With a variety of risks ranging from natural disasters to liability claims, understanding and managing the costs of hotel insurance is vital for hotel owners and operators. This article delves into the intricacies of hotel insurance coverage, the challenges […]
Why Dropping Your Hotel Rates Will Not Create Additional Demand
In the competitive realm of hospitality, hoteliers are in a perpetual quest for strategies that boost occupancy and revenue. A frequently adopted tactic involves decreasing hotel rates, due to the assumption that cheaper rates will lure more guests. However, this strategy is often rooted in misconceptions and overlooks the complexities of demand generation in the […]
NewGen Advisory Recognized in the Annual Platinum Broker Awards by Crexi
Phoenix (March 21, 2024) – NewGen Advisory is thrilled to announce that eight of its distinguished agents have been recognized in the annual Platinum Broker Awards by Crexi, the leading commercial real estate marketplace and technology platform. The esteemed recipients of this year’s accolade are Dinesh “Dan” Rama, Jigar “Jay” Desai, Bharat Patel-Vakil, Ryan Bodine, […]
Navigating Rising Operational Costs: A Strategic Guide for Hoteliers
In the face of an ever-evolving economic landscape, hoteliers across the globe are confronting one of the industry’s most persistent challenges: rising operational costs. These increasing costs are influenced by a variety of factors from CapRates to labor. This not only put pressure on profitability, but it also compels hoteliers to rethink their operational strategies. This […]
Why Food & Beverage Is Important in the Hotel Business
The hospitality industry has seen a transformative shift in the role of food and beverage (F&B) services, evolving from a secondary amenity to a primary attraction for guests. This article explores the significance of F&B in the hotel business, catering to hotel owners, buyers, sellers, and investors seeking to understand its impact on profitability, guest […]
Understanding the True Cost of Running a Hotel Franchise
The decision to enter the hotel industry through franchising opens a world of opportunities, yet it’s accompanied by an array of financial commitments that demand careful consideration. The allure of leveraging a recognized brand, along with the comprehensive operational support a franchise offers, large loyalty programs, and brand recognition is undeniably attractive to aspiring hoteliers. […]
The Rising Trend of Independent & Boutique Hotels
The hospitality industry is witnessing a significant shift with the rising popularity of independent and boutique hotels. These establishments offer a unique blend of personalized service, distinct character, and immersive local experiences. In this article, we will dive deeper into their appeal and the impact of industry leaders. We also explore strategies for capitalizing on […]
Why Are Brand Standards Important?
In an era where the hospitality landscape is marked by fierce competition and ever-evolving guest expectations, one factor consistently stands out as a key differentiator: brand standards. These standards, encompassing everything from guest services to room design and operational efficiency, are not just guidelines but the linchpin of a hotel’s identity and success. In this […]
Sleep Inn Tempe Successfully Transforms into Thriving Student Housing Development
Tempe (February 1, 2024) — In a landmark transaction, the Sleep Inn, located in Tempe, AZ has been acquired by a prominent student housing developer, marking the beginning of an exciting new chapter for the property. The 72-room hotel, strategically situated on 1.38 acres, has been sold to a visionary developer, who plans to demolish […]