As COVID-19 was declared a global pandemic by the World Health Organization (WHO) on March 11, the hospitality industry began to experience sharp declines in lodging demand given the cancellation of events and the travel restrictions set by the gove…
Here’s How COVID-19 Has Altered USALI Financial Reporting
Occupancy decimation isn’t the only curveball COVID-19 has thrown at hoteliers. Turns out, accounting procedures have been hard to figure out as well. Enter the Financial Management Committee of the American Hotel & Lodging Association (AHLA), which…
Hospitality Financial Leadership – Everyone Is Famous for 15 Seconds
This pop-culture expression was coined by Andy Warhol and a friend Nat Finkelstein in 1968. I’m taking some liberties here but in 1968 it was 15 minutes of fame and in today’s world – who’s got 15 whole minutes anymore – it’s 15 seconds! This story …
Independent Hotel Owners Should Look At Integrating Their Assets Into A Portfolio
Stronger together! Merge to survive… and thrive! For hotel owners and investors, access to friendly capital, shared resources and additional capital appreciation provided by entering assets into a partnership – that famous “portfolio effect”, can th…
Social Distancing And The Hotel Breakfast Buffet: Where To From Here?
Could coronavirus close the hotel buffet breakfast for good? International hotel adviser Russell Kett says “the breakfast buffet is likely to become a thing of the past.” When the majority of hotels re-open, the all-you-can-eat buffet won’t be part …
COVID-19: Is The Tourism Industry At A Crossroads?
Despite the existential challenges facing numerous businesses and the enormous uncertainties and personal anxieties experienced by large sections of our society, now may be a good time to think about the future. The coronavirus pandemic has knocked …
Service Failures: 5 Basic Steps To Customer Service Recovery
Why is customer service recovery important? Failures in customer service are inevitable. Whether you’re just starting out as a business or a well-oiled machine, you’re bound to slip up and disappoint a customer at some point; your reservations desk …
SiteMinder Report: Travel Desires Outweigh Safety Concerns For The Post-COVID Hotel Guest
SiteMinder’s Changing Traveller Report 2020: Special COVID-19 Edition series, based on the survey responses of more than 500 holidaymakers in each of the three countries, shows that ‘well-promoted health and safety practices’ rank as the top conside…
Top Considerations for Hotel Balance Sheets Amidst COVID-19 and Beyond
Balance Sheets deserve more attention and are an often-overlooked financial statement. While it is the Operator’s responsibility[1] to ensure accuracy, the simple fact that it isn’t tied to management fees means there is often little effort going in…
Staff Safety Risk Assessment: Assessing your Business for a Panic Button
The reality is that for far too long, the safety of hotel employees has been placed on the back burner. A passing consideration to follow the foremost priority: the guest experience. Yet, over time, the outcry of hospitality staff who have suffered …