Boutique hotels are a unique lodging option. Unlike many hotel chains, which may have hundreds or even thousands of rooms, boutiques are usually smaller, with
Guest expectations are constantly evolving in the hospitality industry, and the competition is fierce. In the past, hotel loyalty programs have been a cornerstone of
The impacts of the COVID-19 pandemic cut across industries and sectors. However, the hotel industry bore the greatest brunt of the pandemic. From travel restrictions
In the hospitality market, extended-stay hotel construction is booming. Lodgings Econometrics reports that over 1/3 of all hospitality constructions in Q1 of 2024 were extended
With the summer months approaching, hotels everywhere are looking to accommodate guests properly during the rising temperatures. Food and beverage trends in the hotel industry
As a hotel owner or manager, your goal is to attract more travelers and improve your occupancy rate. Each year, guests seek new and unique
In a world where tourism is growing tremendously, establishing sustainable local sourcing in the hospitality industry is no longer an option. The dire repercussions of
As long as there has been technology, the hospitality industry has evolved along with it, and it’s no different with the latest and most significant
5 qualities that make for an effective partnership by Suraj Bhakta, CEO of NewGen Advisory Published May 2024 Understanding what you need from your hotel
The landscape of real estate and property development is continuously evolving, presenting new opportunities for investors and property owners. One such innovative approach is hotel
In the complex world of hospitality, hotel insurance stands as a crucial but often burdensome expense. With a variety of risks ranging from natural disasters
In the competitive realm of hospitality, hoteliers are in a perpetual quest for strategies that boost occupancy and revenue. A frequently adopted tactic involves decreasing
Phoenix (March 21, 2024) – NewGen Advisory is thrilled to announce that eight of its distinguished agents have been recognized in the annual Platinum Broker
In the face of an ever-evolving economic landscape, hoteliers across the globe are confronting one of the industry’s most persistent challenges: rising operational costs. These increasing
The hospitality industry has seen a transformative shift in the role of food and beverage (F&B) services, evolving from a secondary amenity to a primary
The decision to enter the hotel industry through franchising opens a world of opportunities, yet it’s accompanied by an array of financial commitments that demand
The hospitality industry is witnessing a significant shift with the rising popularity of independent and boutique hotels. These establishments offer a unique blend of personalized
In an era where the hospitality landscape is marked by fierce competition and ever-evolving guest expectations, one factor consistently stands out as a key differentiator:
Tempe (February 1, 2024) — In a landmark transaction, the Sleep Inn, located in Tempe, AZ has been acquired by a prominent student housing developer,
The hospitality industry is constantly evolving. With the ever-changing guest demands and economic fluctuations, hotel owners must practice flexibility and maneuverability. While some tendencies remain
FDIC cautions financial institutions in new advisory letter. The Federal Deposit Insurance Corporation (FDIC) has released a crucial advisory for banks, highlighting the need for
The way people work, travel, and live is transforming. Some of these trends are the aftermath of the COVID-19 pandemic and how it changed work.
In November 2023, the commercial mortgage rates are hovering between 7% and 8%— near the same residential mortgage percentages that have been dominating the headlines.
A hotel’s location is a crucial determinant in the overall success of a hotel. A hotel based in a favorable location tends to attract more
Hotels have become a familiar scene of human trafficking crimes across the country. According to the Polaris Project, 75% of those who survive these crimes
In the three years since the peak of the pandemic, the hospitality industry has demonstrated remarkable resilience. Hotels have managed to survive and thrive in
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
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,
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.
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
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
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,
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
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
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
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
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
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
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
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.
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
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
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
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
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
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
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
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
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
Every choice we make has an environmental impact, good or bad. The choices businesses make, multiply their environmental impact a thousand-fold as sustainable travel became