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 […]