How To Keep Hotel Labor Costs Down When Business Ramps Up
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.
By Rayna Katz, Writer, HotStats
Opinion Articles
Hospitality Financial Leadership The Daily Revenue Audit – The Must Do’s
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.
By David Lund, The Hotel Financial Coach, David Lund
Five Essentials For Present Day Hotel Operations
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.
By Antoine Berberi, Founder and CEO of Cedar Hospitality Partners, Cayuga Hospitality Consultants
Why Now Is The Best Time To Finance
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.
By Dr. Donald Wise, Consultant with Strategic Solution Partners, Strategic Solution Partners
Is This The Lean Hotel Of The Future?
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.
By David Eisen, Content Director, Media, Questex
HVS Monday Musings: Indian Hotels Sector – Brand Signings In 2020
In the aftermath of the ongoing pandemic, brand signings by keys in India witnessed a year-on-year decline of 42% in 2020. Signings were especially low in the first half of the year, due to the uncertain market conditions and challenges related to closing deals on virtual platforms because of the COVID-19 lockdown and restrictions.
By Mandeep Lamba and Dipti Mohan
HVS Musings: Hotel Transactions in India in 2020
Hotel transactions value in India contracted by approximately 50% to reach INR24,611 million (approx. US$332 million) in 2020 compared to INR49,372 million (approx. US$690 million) in 2019, but was still higher than the previous peak of INR19,929 million achieved in 2015.Going into 2020, mergers & acquisitions (M&A) activity in the sector was expected to be stronger than that witnessed in 2019.
By Dipti Mohan and Akash Datta
Hospitality Financial Leadership – Disco Dick Hatfield
My hometown is St Andrews, New Brunswick in eastern Canada. The town overlooks Passamaquoddy Bay and to the south we are flanked by the great state of Maine. Every year in this part of the world the US governors and the Canadian provincial premiers get together for bilateral talks, some good food, and fun. This story is about one of those meetings, The Algonquin Hotel, and how I met our then Premier, Richard Hatfield who is partially responsible for my hotel career.
By David Lund, The Hotel Financial Coach, David Lund
What Drove Hotel Values to Decline in 2020?
The once-in-a-century pandemic has caused hoteliers to endure a firestorm that decimated the hotel and leisure industries.
By Joseph Pierce, Director of Appraisal & Consulting Services, Hotel & Leisure Advisors (H&LA)
What we can learn from our Restaurant Pandemic P&L
We are all trying to find silver linings from this now nearly year-long unimaginable situation that has somewhat stopped us in our tracks. We find comfort and sanity in things like spending more time with our families, picking up new or dormant hobbies, appreciating and improving our homes, keeping up with goings on around us, and so many others. The one you don't hear too much, if at all, is how much better my business is operating.
By Stacy Moore, Founder of ToolKit Consulting and partner, Cayuga Hospitality Consultants
Turn 2020 Profit Losses Into 2021 Wins For The Hotel Industry
Q1 of 2021 is not going to be profitable, fun or exciting for us in the hotel industry. The goods news is Q2 will come up quickly and having been through six recessions in hospitality, all the signs of a recovery are finally here. Given the significant impact of the virus on our economic, physical and mental health, I am offering a few sentences of my personal plan to recovery; we'll dive into the following areas below:
By Bob Rauch, President of RAR Hospitality, R.A. Rauch & Associates, Inc.
Financial Leadership in the Hospitality Industry – By Guest Author – Amber Habing
This post will tell you about financial leadership in the hospitality industry. It is a summation of information from her research thesis at the Hotel Management School of Maastricht in The Netherlands. The aim of this research is to provide hoteliers with tools to improve their hotel's financial performance with effective financial leadership.
By David Lund, The Hotel Financial Coach, David Lund
Hotel Lawyer: PACE Financing – Now an accepted tool for hotel lenders and borrowers
Hotel finance lawyer: PACE Financing is now mainstream
By David Sudeck and Jim Butler
A Conversation About Investor Sentiment and the Role of Human Capital in Acquisition Due Diligence
Romain Semmel is Investment Director at Pygmalion Capital. He built the foundation of his career with globally recognised property advisory firm Jones Lang LaSalle, where Romain has been involved in over EUR €2.5billion in hotel acquisition and financing deals across Europe. He joined Pygmalion in 2018, a dedicated European investment firm deploying institutional capital to acquire hospitality assets and operating platforms. The company has had its first foray into the hotel sector by acquiring a portfolio of Spanish upscale hotels and is now looking to continue its acquisitions despite the current environment.
By Thomas Mielke, Managing Director, AETHOS Consulting Group
Impact of Recent Federal Stimulus on the Travel Industry
The COVID-19 crisis consumed the United States for approximately three-quarters of the past year. In December 2020, the U.S. Food and Drug Administration issued emergency use authorization for the Pfizer-BioNTech COVID-19 vaccine.[1] The development and distribution of an effective COVID-19 vaccine, alongside other public health measures, should allow us to combat the health effects of the global pandemic. With certainty coalescing around the health solutions to the pandemic, attention must turn to economic solutions.
By Thomas Hazinski and Joseph Hansel
HVS Monday Musings: India Union Budget 2021: Seeing the Glass Half-full?
After making several representations to the government, the Indian hospitality sector, one of the worst-hit by the pandemic, was expecting some game-changing announcements during the Budget 2021 speech which would help accelerate the sector's recovery.However, the first ever 'digital' budget of the country failed to provide any direct and immediate support to the sector.
By Dipti Mohan and Akash Datta
Hospitality Experts Predict 2021 Trends
Cayuga Hospitality Consultants don't always agree, but when asked to predict the future of hospitality, everyone felt the same: Don't expect recovery to be quick.
By Susan Barry, President and Queen Bee of Hive Marketing and consultant with Cayuga Hospitality Consultants, Hive Marketing
Planning is Everything; the Plan is Nothing
This quotation is usually attributed to former US President Dwight Eisenhower. He meant it in a military context. When the wolves at the door are soldiers (or even heavily armed and bizarrely-dressed "Republicans"), your plan may have to change rapidly and radically, but you must have one, and you must be clear about where your plan is taking you. This means strategy.
By Philip Bacon, Global Chair and Practice Leader for Valuation & Transaction Advisory, Horwath HTL
Hospitality Financial Leadership – What’s Possible in the Future with Hotel Financial Statements
I am a big fan of the Uniformed System of Accounts for the Lodging Industry (USALI), or as she is affectionately called "You Sally." It has been the guide that our industry uses to properly present financial information for a long…long time, in fact almost 100 years. It lays out the format for our financial statement presentation and essentially acts as a referee if you like, to tell us what goes where. What revenues, costs of goods, expenses, and payroll belong to which department.
By David Lund, The Hotel Financial Coach, David Lund
Hotel Lawyer on PPP2 and the COVID Relief Bill’s changes to Paycheck Protection Program
We have a new PPP Loan authorization bill out of Washington, after months of political wrangling. Congress could have done more, but they did provide for up to $2,000,000 in additional forgivable loans per borrower, along with provisions which specifically cater to the hospitality industry.
By Jim Butler, Partner & Co-Chair Hospitality Practice, Blank Rome LLP, Blank Rome
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