Yield management has always been a good idea for hotels, but one that recessed with years of record demand and record profits. Now that the downturn has many hotels fighting for survival, we need to bring yield management back to the foreground.
Most hotel operators are currently facing revenue losses. Using our store of historical data from the prior downturn, HVS has developed an analytic tool for use in projecting income and expense items through the downturn.
Steve Rushmore's Monthly article in Lodging Hospitality
The effects of the challenging economic conditions in 2008 on major gaming markets, as well as other significant events and developments impacting these markets, are briefly summarized in this article.
While it is important to take actions during a recession to respond to economic conditions, it is also important to know when not to do something that causes short- and long-term harm to an asset.
The downturn in the national and worldwide economies, and the resulting decrease in consumer consumption, has reduced visitation to the Las Vegas market in 2008 to levels not seen since 2004.
Unemployment rates are surging, global stock markets are crashing, commodities are collapsing, and the real estate bubble has finally burst. What moves can hotel developers make during the downturn?
Hotel owners need professional guidance in this tough economic climate. Here are some tips to help you weather the storm.
Financial Market Turmoil and Global Recession – What are the Signs for Hotels in Asia’s World City?
A hotel’s pet-friendly policies can bring both trials and rewards.