Congress has authorized a much-needed second round of Section 1112 payments to eligible SBA loan recipients. This funding is available to eligible, non-casino hotels and
The hospitality industry evolves at a rapid rate. That hasn’t been more truthful than with recent global events that shape all aspects of lives. The
The pandemic has upended numerous elements of all areas of business. This is especially true for the hotel industry and all who inhabit it. One
In 2019, the employment of travel agents rose by 2.3%. Even during the pandemic, travel agents continue to be in high demand. The year 2021 will
The travel industry went into a tailspin due to the COVID-19 pandemic. As hotel owners welcome the new year, however, they may entertain some cautious
The decline of hotel occupancy in 2020 is not news. Even though occupancy rates have increased since the Coronavirus outbreak, recovery is still uncertain. Hotel
Every financial cycle or economic downturn brings forward its fair share of distressed assets. In these situations, banks and lenders will often start shopping out
With hotels being decimated by COVID-19, hoteliers are looking for any strategies to help them increase revenue. One of the areas that many hotels are
The hotel industry needs additional help to stay afloat, and that help has been slow in coming. With the 2020 presidential election less than a
Given the state of hospitality today, hoteliers need to think very creatively to capture new business. Four out of ten hospitality workers are still not
It’s no secret that COVID-19 has had a tremendous effect on the business travel industry. Since March 2020, experts estimate this $1.5 trillion industry has
Back when the first CMBS loan relief was offered, no one could have predicted how little it would help. Its 90-day deferral of payments got
At the beginning of August, consumer confidence fell to its lowest level in six years amidst summer coronavirus surges. The Conference Board Consumer Confidence Index
The world has changed, and if hotels want to bounce back from the pandemic, they will have to change with it. The old status quo
The more companies use and leverage technology, the higher the security risk to the company and its customer base. This past June, Twitter learned this
As we continue to make our way through the single biggest global crisis in recent memory, hotel owners are left not only with vastly reduced
It’s a whole new world for the hospitality industry as it begins to slowly regroup in the wake of COVID-19. No one is certain what
The numbers are in: bleisure travel is on the rise. How can your hotel attract this growing class of travelers? Most bleisure travelers are millennials,
Technology pushes a more and more interconnected world. Meaning industries like hotel services have a stronger incentive to adapt and expand for their growing audience.
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
As you know, we are in the midst of a presidential election year; wondering who will lead our country into the next four years. Each
Most industries have annual conventions where hundreds (even thousands) of people gather to learn, network and grow their business. The hospitality industry has many annual
When you’re selling a hotel, it’s important to choose the right hotel broker. Choose poorly and the sale could take far longer than you’d like
As a hotel owner, your main concern is to fill as many rooms as possible as consistently as possible. It’s common knowledge that prospective guests
Travelers are relying more and more on online reviews to help them make hotel decisions. In a survey of more than 900 people, travel-technology company
If you think the coronavirus won’t have a significant impact on US tourism, think again. As of the writing of this article, there are 71,000+
Travelers rarely visit a particular place simply to experience a specific hotel—yet that hotel can have an enormous influence on their trip. It is where
Times are tough out there for small businesses, but the hospitality industry is seen as a steady and growing part of the wholesale B2B market.
The hotel and lodging industry can claim numerous reasons why it is one of the most successful fields of operation in the world of businesses.
Many industries pose considerable risk to investors. Between lack of experience in the field to consumer whims changing, and every reason in between, businesses often
Tourism is Everywhere It’s not just the big hotel chains that are profiting from the increase of tourism. Smaller hotels and purely local players are
If you have been to one of today’s trendy bed and breakfast-style accommodations or boutique hotels, you have no doubt experienced the benefits of these
In the nearly 100 years since its opening, it is safe to say that the Hotel Figueroa has been the backdrop for many a scene.
You’ve found some hotel real estate for sale, and after your purchase, you’re trying to think of new ways to enhance the visitor experience. You
Although we’ve relied on hotels and other means of lodging for centuries, that doesn’t mean this sector has no need to innovate. On the contrary,
Beyond the obvious goal of contributing to the welfare of the planet and its natural resources, hotels that meet sustainability goals experience many business benefits
More and more high-net worth investors plan on putting their money in value-add assets. As a wealth-management strategy, investing in high-value real estate is an
Amenities continue to be a significant draw for hotel guests. By providing clients with spaces where they could plan and organize events, hotels can generate
It takes an enormous amount of water—about 2,800 gallons of it—to wash a queen-size bed sheet. Factor in the chemicals needed to sanitize the sheets
Sedona has plenty of breathtaking views, given its well-known red rocks, fantastic sunsets, and some of the best resorts the country has to offer. With
Being in the hospitality business means you’ll need to stay on top of trends and challenges. If you are on the hunt for a new
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
As guests become more demanding in the type of services they want, hotel properties will need to keep up to meet their demands. That includes
The revenue growth forecast for hotels is expected to slow down, indicating that profits may be harder to hit this year. Revenue gains may have
Hyatt is set on a worldwide expansion, announcing plans to build hotels in locations such as Philadelphia, Portland, Senegal, El Salvador, Los Angeles, and Australia.
Hotels are finding it hard to control salaries, with higher pay, wages, as well as benefits taking a chunk out of the company’s revenue. As
The growing trend of convergence between retail and hospitality isn’t anything new. Hotel brands that work with retail brands provide a personalized experience for customers,
While expenses for hotel businesses continue to rise, 2018 turned in stronger profits than expected. That bodes well for the future of hotel owners and
Star ratings matter. In an age where consumers check reviews and feedback online before they buy a product or try out a service, ensuring that
Experts in the hospitality industry foresee a strong performance for U.S. hotels in 2019. Property owners and those looking to invest will not need to