Everything you wanted to know about buying and selling hotels.
Thousands of hotel workers across 18 cities in the U.S. and Canada are gearing up to demand significant pay raises ahead of contract negotiations with major operators.
Unlocking the secrets behind hotel cap rates reveals a world of nuanced variability, shaped by market demand, property type, location, operational performance, and economic conditions.
Cap rates provide a snapshot, but to truly unlock a hotel's potential, delve deeper into location, brand reputation, and market demand. Discover the keys to successful hotel investments beyond mere numbers.
Investors beware! Relying solely on cap rates when assessing hotel investments can be perilous. Dive into this article to uncover the hidden risks and overlooked factors that could spell disaster for your investment strategy.
The traditional presence of TVs in hotel rooms is being questioned by hoteliers like Samir Hammam of Wadi Sabarah Lodge in Egypt, who prioritize immersive experiences over screen time. Similarly, Villa Làrio in Lake Como and Le Grand Contrôle at the Palace of Versailles have opted to forego TVs in favor of breathtaking views and historical authenticity, respectively. However, decisions to exclude TVs are not always straightforward due to government regulations and guest expectations. Observations suggest that many guests don't...
Hotels in Europe are focusing on sustainability, with Austrian and German establishments leading the charge in investments towards eco-friendly practices. Additionally, there is a concerted effort to attract Gen Z travelers in countries like Greece, France, and Austria, while hotels continent-wide are expanding vegetarian, vegan, and locally sourced food options to meet evolving consumer preferences.
The European Hotelstars Union oversees a standardized rating process across 21 member countries, evaluating hotels based on 247 criteria. Hotels can achieve up to five stars based on these criteria, with an emphasis on exceptional service for superior ratings. Claims of hotels with 6 or 7 stars are considered misleading, as Europe adheres strictly to the five-star scale. Star ratings play a crucial role for travelers seeking predictability and comparability when selecting accommodations across different countries.
In today's dynamic hospitality landscape, offering guests a wide array of payment options is essential for enhancing convenience and satisfaction. By diversifying payment methods, hotels can cater to the varied preferences of their guests, ensuring seamless transactions and a positive overall experience. From traditional credit and debit cards to emerging digital wallets and cryptocurrencies, providing flexibility in payment options is key to staying competitive and meeting the evolving needs of travelers.
Dynamic pricing has revolutionized revenue management in the hotel industry by enabling real-time rate adjustments based on market demand. This strategy empowers hotels to maximize occupancy and revenue, although it requires careful implementation to mitigate potential challenges such as rate perception issues and software integration complexities. Similar dynamic pricing strategies are also employed across various industries to optimize revenue based on market dynamics and customer behaviors.
Fraud is a pressing challenge in the hotel industry, impacting up to 6% of annual revenue. Without a strong defense strategy, hotels risk reputation damage and financial losses. Prevention measures include clear policies, secure digital systems, and staff training to detect and deter fraud at all levels. Understanding evolving fraud tactics is essential for maintaining trust and profitability in the hospitality sector.
Manchester's tourism surge is fueled by exciting hotel openings like Maldron Chapel Street and Mollie's Manchester, set in a former TV studio. Treehouse Manchester and the historic Station Agent's House add to the city's diverse accommodation options. Combined with revamped properties like Manchester Marriott Hotel Piccadilly and Malmaison Deansgate, along with the Visit Manchester Pass, Manchester offers an enticing blend of heritage and modern amenities for visitors.
Guests at Epic Universe's How to Train Your Dragon area, "Isle of Berk," can look forward to an immersive experience featuring thrilling attractions, interactive shows, and themed dining options reminiscent of the beloved film franchise. This exciting addition to Universal Orlando Resort will offer a complete adventure, allowing visitors to step into the world of Berk and enjoy family-friendly entertainment, including meeting Hiccup and Toothless, all within reach of nearby hotels for a seamless vacation experience.
Travel Leaders Network unveiled Internova SNAP, a user-friendly version of Sabre Red Launchpad designed to streamline booking processes for travel advisors. SNAP offers a simplified graphical interface within the Sabre GDS, enabling easy flight, hotel, and car rental bookings while reducing the learning curve associated with traditional GDS systems. This innovation aims to accelerate onboarding for new advisors and empower independent contractors with efficient retailing tools, enhancing client retention and competitive advantage within the industry.
Hilton's acquisition of a majority stake in Sydell Group marks a significant expansion of its luxury offerings, with the inclusion of the prestigious NoMad brand. Under this partnership, Sydell will oversee NoMad's design and management while Hilton focuses on development, aiming to integrate NoMad's unique luxury experience into its portfolio and loyalty program.
The FTC and DOJ's interest in algorithmic price-fixing cases within the hotel industry reflects a broader concern over anticompetitive behavior facilitated by technology. Recent legal actions signal a push to ensure fair competition and consumer protection in pricing practices.
At the International Hospitality Investment Forum in Berlin, Marriott International announced plans to add nearly 100 properties and over 12,000 rooms to its European portfolio by the end of 2026 through hotel conversions and adaptive reuse projects, representing more than 40 percent of its European development pipeline. This expansion aims to strengthen Marriott's presence across Europe, leveraging established brands and attracting increased interest from hoteliers and investors in conversion opportunities.
Discover why hotel rooms offer the perfect haven for a restful night's sleep, from the tranquil environment to the impeccable bedding and thoughtful room design. Unwind and recharge during your stay, experiencing the luxury of hotel sleep like never before.
As of April 1, 2024, the minimum wage has risen in all four Atlantic provinces, reflecting adjustments aimed at supporting workers in the region.
As of April 1, 2024, the minimum wage has risen in all four Atlantic provinces, reflecting adjustments aimed at supporting workers in the region.
In the dynamic landscape of the hotel industry, maximizing profitability requires a multifaceted approach. Understanding and leveraging your average profit margin serves as a foundational step toward effective revenue management. By diversifying revenue streams intelligently, embracing technology, prioritizing guest satisfaction, implementing strategic marketing, and investing in staff training, hotels can elevate their financial performance and ensure long-term success in a competitive market.
