How to Make Your Hotel Recession-Proof
Whether or not we are poised for a recession by 2021 is the subject of much debate but we seem to be trending in that direction. In the wake of the coronavirus, the Federal Reserve just cut interest rates to 0% – a 50-year low. With coronavirus headlines changing by the hour, Bloomberg Economics most […]
Tax Incentives for Opportunity Zones: a Brief Introduction
Hotel investors are taking advantage of opportunity zones, and rightly so. Opportunity zones are a win-win for both low-income neighborhoods and investors, which is why the government has created some major tax incentives for them. Want to learn more? Read Congressional Research Service’s briefing of tax incentives for opportunity zones here. Ready to invest in […]
For in-Room Technology, Look to the Living Room
Connected technology is quickly becoming the newest addition to hotel guest rooms. By investing in multiple device integration with in-room technology, hotels will start to see the benefit of building a technology ecosystem, one that’s going to improve guests and the hoteliers both in the long term. Intertwined Technology As more and more of in-room […]
Back to Basics: Elevating the Guest Experience Starts with Mastering the Essentials
The hotel industry is booming. More people are traveling and they’re happy with the accommodations they’re getting. At the rate it’s going, we can only expect the industry to grow even bigger. This begs the question: now that most of our guests are satisfied, how can we give them more? This is perhaps the question […]
First Opportunity Zone Project Breaks Ground
The first opportunity zone project breaks ground in Phoenix, with the development project on the 130-room Springhill Suites by the Marriott in the suburb of Avondale, spearheaded by Virtua Partners and Hotel Equities, its hotel management affiliate. Opportunity Zone Investing Efforts in the area continue to be geared towards providing affordable housing in underserved communities, […]
Deloitte: CFOs Anticipating a Slowdown, but Not a Recession
While the economic outlook continues to be positive, the CFO Signals points out expectations for a slow-down by the end of 2020, one that could lead to the softening of lodging-industry fundamentals in the short term. Not a Recession Expectations run to a deceleration of U.S. economic activity by the end of 2020. However, industry […]
Transforming a Hotel into a Lifestyle Brand
When it comes to selling services or products, it’s nothing new that you, as the owner, would want to turn it into a brand that people from different parts of the world would recognize. This happens even to those who own property assets such as hotels. You’d want your accommodation to be so remarkable that […]
Marriott to Open More Than 1,700 Hotels by 2021
Hotel giant Marriott outlined a three-year plan to launch more than 1,700 hotels all over the globe. They also aim to return up to $11 billion to shareholders and intend to make a full-year profit of about $8.50 per share by the time 2021 rolls in. Closer Look into The Numbers The brand already owns […]
Accurate Forecasts for Hotel Revenue
Accurate forecasts are an essential part of revenue management for hotels. Property owners who have adopted a more holistic approach to revenue strategy will find that it makes it easier to align departments when the data, goals, and metrics are on the same page. Improving Forecasts Aside from a holistic approach, one way to ensure […]
5 Major Hotel Trends for 2019
Hotel ownership is an excellent revenue source. If you’re looking for ways to diversify your portfolio, then investing in a hotel property can be the right financial decision for you. Before you talk to your hotel brokers, read up on the following major hotel trends for the year. This can influence you in the kind […]
U.S. Department of Labor Releases New Overtime Rule
More American workers may qualify for overtime pay this year. Under the current enforced law, only employees with a salary below $455 every week are eligible for overtime pay if they work more than 40 hours a week. The Notice of Proposed Rulemaking announced by the U.S. Department of Labor may make that happen. What […]
Standard Hotel Group Raises $5m For New App
The Standard International’s hotels have always been a byword for trendy rooms and late-night party spots. Now, it sets to add incubator to its list of accomplishments, as Standard Hotels launches a one-night booking app. Not Pay-Per-Minute The mobile app was launched in 2016 and has a list containing over 200 hotels open for clients […]
Global Hotel Investment Volume Prediction: $67B
Global Hotel Investment Volume Prediction: $67B Could 2019 possibly be the year for hotel investments? Studies say, yes. The market is ripe for the hotel industry, which makes it the perfect time to start investing in properties. There are plenty of opportunities for investment, given the rise in capital flows from all over the world, […]
2018’s Hotel Profit Plunge
Has business been feeling slow lately? Despite the influx of customers, has it been more difficult to breakeven? Don’t worry. You’re not alone. 2018 wasn’t a good year for business, particularly in the hotel industry. Recent statistics show that there was a hotel profit plunge by at least 5%. The factors which led to the […]
Hospitality at its Finest – How Hotel Owners Can Strengthen Employee Engagement
The key components to helping a business succeed in the hospitality industry is a smart financial plan, a solid background in the business, and perhaps most importantly, a stellar staff. Having employees who know how to do their jobs and excel at them pays off more than you might even realize. Here are a few […]
Five Things Every Hotel Lender Wished Borrowers Did
Now is the best time to refinance hotels. But while conditions are ripe for borrowers, that does not automatically mean that your application will be approved. Before you go to a lender, here are five things you should do—or what are essentially five things every hotel lender wants you to do before you submit your […]
Weathering Hotel Downturn – Are You Prepared?
The time to prepare for a flat tire is not after running over a nail. The same can be said for those who run hotels—the time to prepare for a downturn is right now. By the time a financial or economic downturn happens to your business, it is too late to begin planning how to […]
Going Green! How Hotels Are Reducing Their Carbon Footprint and Saving Money
Environmental consciousness is not a new trend—in fact, it is at the forefront of the minds of more and more consumers every day. Smart businesses, including hotels, pay attention to what interests their customers and act accordingly. Whether you have recently become an owner through a hotel sale or you are working to market your […]
5 Ways Hotel Owners Can Improve OTA Reviews
You’re in the market to buy a hotel—maybe a smaller hotel listed for sale by the owner. One of the first things you’re going to do is check out the available reviews for the property, including the OTA (Online Travel Agency) ratings. Reviews can make or break any business, and the hotel industry is no […]
The Art of Depreciation and Refinancing Hotels
If you are looking to build property, market figures indicate that this is not a good time. If you want to refinance a property, though, then that is a different story. With plenty of loans available for existing hotels as fundamentals remain steady, this may be the best time to acquire that hotel you’ve been […]
U.S. Travel and Hospitality Outlook—2019
As we move forward into 2019, investors in hospitality and lodging want an idea of what they can expect. It’s important for hotel investors to understand predictions in the travel industry altogether to prepare for changes in their sector specifically. Deloitte’s 2019 U.S. Travel and Hospitality outlook gives investors a clearer look into this year. […]
Why Hotel Investors Should Be Using Opportunity Zones
The Opportunity Zones program may pose some limitations, but it brings seriously lucrative tax benefits to the table for hotel owners and investors who may have projects in the right location. With more and more investors thinking about taking advantage of the benefits brought on by the program, here’s why you should start giving serious […]
Hotels: Higher Occupancy Low ADR vs. Higher ADR Lower Occupancy
Measuring hotel performance can be difficult. There are several factors that need to be considered when looking at how well a hotel is performing. This includes occupancy, average daily rate (ADR), and revenue per available room (RevPAR). One of the ongoing debates in hotel performance ratings is the efficiency of measuring success using ADR or […]
Trump’s Foreign Policy and the impact on Foreign Travel to USA
From immigration policies to healthcare and tax reform to a government shutdown, U.S. President Donald Trump has had his fair share of challenges since taking office. One of the more recent issues that’s gaining international attention in recent months is his foreign policy. Whether one aspect is directly related or attributed to the other remains […]
Dual Branding: Is it a Successful Model?
The world of commerce is an ever-growing and expanding one. The fight to stay relevant, successful, and efficient is a reality that drives many companies to come up with more and more ways to push the boundaries of their particular fields. Sometimes these boundary-pushing measures flourish, and other times they fail. Risks that are never […]
What is the Value of Your Hotel? – Aligning Expectations vs. Reality
So, you’re looking to sell your hotel. You have a great property in a fantastic location with updated rooms and equipment, and you expect to receive a fair price with these features. Or, you’re looking to buy your first property and are excited about the prospect of owning and running a hotel. Whether you’re buying […]