Ensuring Quality Assurance in the Hotel Industry
Quality assurance is important to the success of any business, and the hotel industry is no exception. In today’s competitive world of hospitality, building a positive reputation and driving revenue growth depends on delivering exceptional guest experiences. Quality assurance is integral to every successful hotel operation, ensuring that guest expectations are met and compliance with […]
What Hotel Employees Find Most Important
As any service company will attest, employees are your biggest asset. It can be difficult in today’s culture to hire and retain good employees. So, you must look beyond the salary to those additional perks that lead to employee satisfaction. After all, your hotel employees from the concierge to the housekeeping staff are the face […]
Tucson Motel to be Converted into a Shelter, Apartments after $2.6M Sale
Jigar Desai, with NewGen Advisory, handled the $2.6 million sale of the 30-unit Amazon Motel on two acres of land at 1135 W. Miracle Mile, near Fairview Avenue.
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 […]