Over the many years I have worked in hotels, I have had the pleasure of working with some exceptionally fine and talented individuals. This story is about one GM and his penchant for simplicity.
This year has already seen many of the various cryptocurrencies grace the front page of major news outlets. This trend will continue throughout 2021 and, by our predictions, for the rest of everyone’s natural lifespans who happen to be reading this article. Pure hype or not, the technologies underpinning these altcoins are going to keep expanding and maturing as the applications for blockchains are too great to ignore.
Hotel real estate investors need to measure both the absolute and relative financial performance of their properties. A 10% annual return may appear solid unless a collection of comparable investments earned 15%. Risk-adjusted returns measured against the appropriate index provide a way to assess managers’ abilities to generate excess returns. Measures of investment return come in many flavors.
See how JMBM’s Global Hospitality Group® can help you.Click here for the latest articles on EB-5 Financing here for C-PACE Financing.
With a 40% drop in the number of overnight stays in 2020, the Swiss hotel sector is on the verge of suffocation. An exceptional season this summer, however, could limit the damage.
The U.S. isn’t the only country having issues filling hotel positions. In the wake of pandemic-induced layoffs and furloughs, properties around the globe are having trouble staffing up.
The COVID-19 pandemic has drastically altered the world’s economic situation leading many economists to predict that it will have as great, or even greater, impact as the great depression of the 1930s. As such, many of the field’s fundamental principles must be reconsidered for the coming years, including several which received less attention in recent years as learnings from the Great Recession superseded them. In order to properly educate students and managers about the relationship between economic theories and practical implications on the hospitality industry, such shifts must be incorporated into macroeconomic courses and executive education programs as to better reflect the current economic realities facing firms and their leaders.
In the hotel business if you want to get ahead you better be ready to move. It’s the way in which you can multiply your opportunities and increase your chance for greater personal prosperity. That’s the way it was explained to me many years ago and it has certainly been my experience. On the flip side, moving is not easy and it can take its toll on you and the people in your relationships.
EHL’s Institute of Real Estate, Finance & Economics is pleased to present the first update of the European Hotel Transaction Price Index that was initially launched last year. In 2020, European hotel transaction prices decreased on average by 11.1% vs. the prior year. The total transaction volume recorded by Real Capital Analytics (RCA) decreased to EUR 10.5 bn, which is 59% lower than the record transaction volume of 2019.
In the hotel business if you want to get ahead you better be ready to move. It’s the way in which you can multiply your opportunities and increase your chance for greater personal prosperity. That’s the way it was explained to me many years ago and it has certainly been my experience. On the flip side, moving is not easy and it can take its toll on you and the people in your relationships.
The COVID dust is still settling but a new global landscape for hospitality is already taking shape. For the hotel industry, 2020 marked a sharp break, the end of an economic cycle that began at the end of the 2008-2009 financial crisis. The time has come to step back and take a look at the decade we’ve been through. Which strategies delivered value? Which market players reaped the profits?
After recently completing a policy manual for a client, I want to share what worked for this hotel company and what could work for you. I also want to clear the air on policy vs. procedure.
Vaccine rollouts, an increase in local and regional non-air travel trends and higher transaction volumes are all positive news supporting an elevated degree of confidence for a market rebound. Multiple announcements made by large investment funds committing to substantial capital injections into the hospitality lending space will also provide a boost.
PACE financing guidelines are finally available for New York City, and while the program has not officially launched yet, hotel owners and developers in the area should start planning how to use these loans to retrofit their properties. My Partner David Sudeck discusses the program requirements, below.
Practice is what we are missing. Practice with the financial piece is somehow a foreign concept. But in the hotel world practice is everywhere, right?
Some changes made to cope with the pandemic likely will be industry norms, while the crisis also spotlighted the need for new practices to be put in place.
The hotel business is a retail business and in order to stay on top of your business, you must fully and completely balance your daily revenues and settlements. This means dotting the eyes and crossing the Ts, examine them. Every day we begin anew and every day is a story unto itself when it comes to the revenues and settlements. I may sound like I'm repeating "revenues and settlements," but it cannot be emphasized enough.
It has been one year since the historical COVID-19 pandemic made its debut, affecting the entire population and economies around the world. It is evident that out of all the industries negatively affected by this economic tsunami, the hospitality industry has been, and will most likely remain, the most impacted and the slowest to recover.
Winter is officially over, and although the capital markets for hotel and resort refinance, acquisition and new-build construction lending have been frozen, they have been stealthily thawing out since the first of the year.
In one of many entertaining scenes from the 1981 war comedy "Stripes," peak Bill Murray cajoles peak John Candy to mud wrestle a trio of scantily clad women in a bar. You can imagine what ensues, and if you can't, the internet does.