The Importance of Curb Appeal
Renovations play a crucial role in improving a hotel’s occupancy rates and overall revenue. However, upgrading the interiors may have a minimal impact if you do not aim to impress guests even before they step through your front door. Most owners typically prioritize decorating the lobbies, meeting areas, guestrooms, and restaurants, while overlooking the exterior […]
Importance of Cap Rates in the Hotel Industry
Classified as income-producing assets, hotels are mainly valued based on their recurrent income-generating potential. Similar to other forms of commercial real estate, one fundamental indicator of their percentage profit is the capitalization rate (cap rate). So, is a higher cap rate always the sign of a great deal? Not entirely. What Are Cap Rates? A […]
Digital Marketing in the Hotel Industry
Digital marketing played an essential role over the last three decades in the hotel industry. In a time where travel planning is done entirely online, digital marketing assists hotels in gaining their greatest visibility and potential for near-instant conversions. “Digital marketing for hotels has become a crucial component of marketing for any hotels.” Says principal […]
Importance of Customer Service & Experience in the Hotel Industry
A recent report by Deloitte emphasizes that a remarkable 29% of hotel guests who receive exemplary attention are inclined to leave positive reviews. Moreover, resolving complaints promptly is found to significantly enhance the overall guest experience, with 40% of guests whose issues are resolved quickly more likely to share positive feedback. Recognizing and acknowledging the […]
Recessions Impact On The Hotel Industry
The hotel industry holds substantial prominence within the global economy, assuming a pivotal position in bolstering the travel and tourism sector. Nevertheless, akin to numerous other sectors, the hotel industry remains susceptible to the ramifications of economic downturns. As consumers within the hotel industry curtail their expenditures on travel and leisure pursuits, a subsequent decline […]
Will Choice Hotels and Wyndham Merge? (We don’t think so)
choice hotels and wyndham hotels & resorts merger- key considerations Media recently reported a potential merger between Choice Hotels and Wyndham Hotels & Resorts. While the two parties are not currently engaged in serious talks, the news has generated interest and speculation among industry observers. We see this transaction as unlikely for several reasons, the primary of […]
How Hotels Can Survive The Alternative Accommodations Boom
When Airbnb first started, nobody thought the company would outcompete the hotel industry. Airbnb founders once said, “We’re not really replacing hotels,” and hotel chain CEOs believed them. However, the data says otherwise. In the beginning, alternative lodgings accounted for 10% of the industry. In 2021, the alternative lodging sector took a 20% share of the $300 […]
Top-Tier Hotel Brands Move Down Market
In the last few weeks, the top-tier hotel brands Hyatt, Hilton, and Marriott have all announced new Midscale Extended-Stay sub-brands, reinforcing an emerging trend over the last several years where top-tier brands expand into more Midscale and Upper-Midscale brand offerings. These new product offerings appeal to guests and owners alike. Guests are responding to economic […]
Johanna Cuevas: Hotel Investment Basics 101
Johanna Cuevas had the opportunity to speak at the Latino Franchise Symposium on April 21st in Dallas, Texas. Her panel focused on discussing hotel ownership amongst the Latino community and how we can spread awareness to help Latinos get into ownership. johanna’s position on hotel investment basics – What is your story and what got […]
Do New Brand Hotels Affect Old Brand Hotels?
From premium economy hotel brand, Spark by Hilton to Accor’s stylishly curated Handwritten Collection, the past few months have seen a proliferation of new brand hotels in the U.S. These new hotel brands are causing a stir in the hospitality sector with many questioning whether the industry can equally sustain both new and old brand […]