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 …
Hyatt Debuts Path Forward, Focusing on Safety and Wellbeing
Hyatt Hotels Corporation (NYSE: H) today announces Hyatt’s path forward to welcome back guests and customers to Hyatt hotels, helping them once again experience the joy of travel. With a focus on safety first and wellbeing always, Hyatt is reimagini…