Labor Challenges In The Hotel Industry
The hotel industry is currently facing a labor shortage and according to the U.S. Bureau of Labor Statistics, approximately 2 million hospitality posts remain vacant. However, in a study conducted by Joblist.com, 69% of respondents claimed nothing would change their minds about re-entering the hospitality industry. Ultimately, labor challenges in the hotel industry can be […]
How Hotel Brands Utilize AI To Their Advantage
Creating a memorable and satisfying guest experience is crucial for fostering customer loyalty in the hospitality industry. Fortunately, hoteliers today have access to a range of innovative tools to help them achieve this goal. Among these tools, artificial intelligence (AI) stands out as a powerful technology that is increasingly being utilized by multiple hotel brands […]
The Future of Hospitality: Innovations In The Hotel Industry
For the last decade, the emergence of new innovations and disruptions within the hotel industry are changing consumer preferences. In tandem, hoteliers have started adopting innovative solutions to ensure their businesses thrived. Innovations such as online booking platforms, mobile apps, virtual reality tours, and AI-powered customer service are transforming hotels’ operations. Unfortunately, these changes can […]
Are Hotel Guests Really Loyal To Loyalty Points?
Customer loyalty is one of the most important aspects of a successful business. For large brands, this is especially true as customers may choose to consistently only stay at one brand regardless of where their travels take them. On the flip side, a smaller, independent hotel may become a local favorite for visiting guests if […]
2023 Hotel Trends Hoteliers Should Adopt
The hotel industry has had some extraordinary changes in 2022 while recovering from the financial wreck of the 2020-2021 lockdowns. As we move forward, travelers are becoming more ready and willing to explore in the new year. Thus, global reliance on technology for services, communication, and bookings shot up exponentially. Hoteliers need to be aware […]
How Hoteliers Should Prepare for 2023
2022 brought a mix of successes and challenges for the hotel industry. Travelers were eager to return to exploring after COVID lockdowns, and global hotel occupancy reached 5% higher than 2019 levels over the summer. At the same time, hotels continued to struggle with effects of labor shortages. Many workers who were laid off during […]
What You Need To Know: Inflation In The Hotel Industry
Inflation is having a substantial impact on the hotel industry, particularly as it is related to the US hotel rate landscape. Prices of services and goods provided by hoteliers steadily continue to rise, including the cost of running hotels. Many hotel managers are hesitant to raise their current rate, fearing it might deter potential clients […]
5 Biggest Mistakes Of First Time Hotel Buyers
Buying a hotel is not like buying empty office space. You are purchasing a living, ideally thriving, property with an existing business model, clientele, and an environment that shapes the guest’s experience. Your first hotel will be an adventure filled with business models, renovation, hospitality management, and of course, financial strategy. If you want to […]
Considerations for First Time Hotel Buyers
Investing in a hotel can be a rewarding and profitable way to step into the business world of hospitality. The profitability of your hotel depends on how well it is designed, staffed, and run. If it attracts guests and inspires delight, then your investment will thrive. Of course, this poses a unique set of considerations […]
Why Are Sustainable Hotels On The Rise?
The pressure for sustainability is growing now more than ever as travelers are more willing to stay in a sustainable hotel. Sustainability is increasingly being recognized as the key to a profitable organization in the twenty-first century, and it has emerged as the top interest for the hospitality industry. The pandemic forced hotels to change how […]