Revenue managers should think like options traders. The COVID-19 pandemic and subsequent recovery taught hotel operators that average daily rates can be extremely volatile. Revenue-management strategies focused on total guest spend can help mitigate the risk involved in achieving RevPAR share through a high ADR. Management companies need to incorporate techniques and practices to evaluate all possible revenue-generating strategies.
The pandemic is forcing the hospitality sector to rethink and make hotels more viable as developing hotel assets that drive higher ROI is the need of the hour. How can hotels achieve this? Read on to know more.
The Greek tourism industry has been hit the hardest; but it has also given people the opportunity to step back and fill in the missing gaps. A need to establish well-organised and empowered DMOs is apparent, in order to upgrade Greece's tourism product. Furthermore, the development of a corporate structure will assist family hotel businesses to entrench a desired financial position against stakeholders.
This article gives an overview of hotel investment volumes in Europe in 2015, discussing trends and forecasts and providing a comprehensive list of single asset and portfolio hotel deals above €7.5 million.
The sharing economy – a product of four mega trends affecting today’s society: rising urbanisation, changing demographics, shifts in power and a digital revolution. This article discusses current and future trends for budget hotels in this economy.
In most hotel P&Ls, usually towards the bottom, is a heading called Non-Operating Income and Expense, formerly known as Fixed Expenses. Few costs are uncontrollable in a hotel. There are simply some expenses which take longer to reduce than others!
A hotel manager's most important tasks are making money for the owner and maintaining the asset. Satisfied guests and motivated employees are among the tools, but cost controls are also critical components of the formula.
Constant questioning and challenging of hotel amenities, services, programs and management practices is critical to discover new ways of elevating the guest experience. Asset managers should encourage management to take risks to innovate.