Coming off of a record year in 2015, Caribbean hotel occupancy in 2016 has declined every month so far this year compared to last according to the folks at STR. Blame it on Zika, AirBnB, Brexit, Cuba or the airlines if you like, but there is something else at work this year – the US Presidential election.
The market is poised for boutique hotels to make an impact on the hotel industry like they never have before. With an expected soft landing of the economy in 2017 (2-3 percent RevPAR growth max) it is more important than ever for independent hotels to ensure that they have proper revenue strategies in place. Competing with the big brands for market share can sound like a herculean struggle but with execution of the proper procedures, a boutique hotel can stand apart from the crowd.
While running a successful hotel requires a wide and diverse skillset, most professionals inside the industry wouldn't count the ability to entertain as an important part of that list.
While the newest generation of travelers – the oft written about Millennials – may not yet have the discretionary spending muscle of Gen Xers and Boomers, they are having a decidedly pronounced impact on the evolution of the branded hotel space. Unique experiences, lifestyle, design, and authenticity rule the day now. Does that sound the death knell of the branded hotel?
Hotel experts from across the industry converged last week in Memphis, Tennessee, for the Memphis Hotel and Lodging Association's annual Southern Lodging Summit. Memphis, the birthplace of Holiday Inn and a hub for Hilton Worldwide's corporate operations, has a rich heritage in hospitality, and many of today's top hotel executives trace their professional lineage back to the city.
It is claimed that PIPs (property improvement plans) exist to ensure all franchisees are brand compliant and to drive customer satisfaction. However, it appears big brands such as Choice, Holiday Inn, Wyndham and Best Western, often use them to push hoteliers out of a market to benefit corporate expansion strategies. So are PIPs really in the best interests of franchisees?
Every ten years or so, the Financial Management Committee (FMC) of the American Hotel & Lodging Association revises the Uniform System of Accounts for the Lodging Industry (USALI). The USALI serves as the industry standard for reporting hotel revenues and expenses.
One of America's great resort hotels, the Mountain View Grand Resort & Spa had its origin in the post-Civil War period. On a rainy night in 1865, a group of travelers en-route to Montreal, was stranded when their stagecoach overturned in Whitefield, N.H.. The driver found shelter for his wet passengers a half-mile away at the home of William and Maryjane Dodge who welcomed them with overnight lodging and a home-cooked breakfast. On that morning, the spectacular views of the Presidential Range, a series of 5,000 and 6,000 foot peaks, were overwhelming. Later, the Dodges officially opened an inn called the Mountain View House in 1866 and, after several additions, could accommodate more than 200 guests by 1912, when the Belvedere Tower was added.
In this war to win the hearts and minds of modern travelers, intermediaries like Google, Expedia and Priceline have the resources and major strategic advantages. Individually and collectively, they have massive financial resources to invest in technology (website and mobile), systems, databases, marketing, talent and so forth – more than any single chain, much less an independent property.
Just by the size of their numbers, millennials will have a significant effect on the hospitality industry. In the United States, there are over 90 million in this demographic, making them the largest generational segment with a spending power of over $200 billion. In terms of travel consumption, millennials will account for over half of all travel spending by 2020.
For the US Mountain region, and mountainous areas of the Pacific States, ski resort real estate markets are among the most luxurious in the country. The following is an overview of 10 year trends in sales, pricing and values as of the end of 2015.
As hoteliers, the biggest challenge is how to get customers in the door; making them a return customer is the easy part. So here are some ways to get your hotel's name out in the community, generate a positive buzz about your property and increase business.
Water is a precious resource. We drink it to hydrate our bodies. We irrigate our farms with it to grow food. We run our factories with it. We play in it for recreation. And we develop waterparks to attract tourists and vitalize our economy. In Colorado, where a lot of water originates in high country, there's even a water court and a judge to balance all these demands for water.
These days, the guest journey has grown more complex. On a typical day in 2015, millions of people worldwide will book lodging accommodations. The exponential growth of the internet and the use of mobile devices by travelers who shop, plan, and book online shines a light on the challenges hoteliers face in their fragmented, complex distribution environment.
I am a hotelier. Let's get that bias right out there. Everything I know and everything I do is focused on creating transcendent experiences for the guests who stay at my hotels. But unlike some of my colleagues in the hospitality industry, I am also a strong believer in the sharing economy. And I believe that rooms and cars are only the beginning.
I have long been a proponent for hotels discontinuing drip pricing or hidden fees, rather instead building some or all of those ubiquitous fees into the room rate. Like many, perhaps even most guests faced with the check out bill, I resent being nickeled-and-dimed or being charged for facilities, services and amenities for which I never used nor cared.
If you pay close attention the ebb-and-flow of rankings on TripAdvisor and other guest commentary sites, you may have noticed a phenomenon I like to call "summertime TripAdvisor blues."
Anyone who has faced the prospect of an international flight with an eight-hour layover in New York or San Francisco knows how valuable it is to rest in a hotel room versus a bench in an airport lobby, groggily awaiting a connecting flight. In most cases, however, that short hotel stay comes at the full overnight rate or in less-than-desirable accommodations. Launched in February of 2015, HotelsByDay.com (HBD) aims to change the model, providing convenience and efficient pricing for short-term hotel guests and greater returns for hoteliers
Today's rising popularity of all-inclusive resorts is directly correlated to the value proposition for the guest. The resorts that offer customized products and services with personalized experiences are beneficial to both the owner and the customer.
Direct channel bookings in recent years have become synonymous with online bookings for many hotels, but a closer look at direct booking data shows that for many hotels only 10-15% are web reservations and as much as 75% are voice channel. The outstanding growth in mobile search and planning has, rather than co-opting the voice channel, actually expanded it with click-to-call functionalities driving voice bookings. In 2013, Wyndham Hotel Group reported that for every booking via its mobile website, three are converted after a voice call.