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Unable to attend the 2021 NYU Conference? Check out hotelAVE’s Key Conference Takeaways! 1) GREEN SHOOTS DRIVING CONFIDENCE STR forecasting nominal RevPAR recovery one year earlier – now 2023. Return of international travel, expected business and strong group pace bodes well for 2022. 2) UNCERTAINTY IN UNDERWRITING RECOVERY AND INFLATION IMPACT While..
One thing we can say with certainty is that it won’t be easy, nor even, and it will take some time. As with any prior major disturbances to the hospitality industry, there will be some winners and losers. With assets under management from Argentina to Canada, we at HotelAVE have been designing solutions for our..
Hotel operators have many responsibilities that typically center around “day to day operations”, including hiring and training employees, ensuring high guest satisfaction, defining operating procedures, complying with brand standards, complying with local laws, pricing hotel rooms and other revenue sources, marketing the business, managing hotel bank accounts, and purchasing operating supplies, to name a few. ..
While general real estate asset management has existed for decades, hotel asset management evolved as a specialization beginning in the early 1990s, and for good reason. To maximize hotel real estate value, owners need hotel asset managers qualified un-biased advocates with specific expertise in hotel operations, real estate and capital markets. Interested in learning more..
Revenue management technology, data and tools can be overwhelming, especially for hotel owners. Hotel owners often ask asset managers what they must do to stay relevant and even participate in their hotel’s revenue management strategy. They want to know to what extent they should be involved or what their role is, as an owner, in..
Arne M. Sorenson, who grew Marriott International into the world’s largest hotel chain, engineering a $13 billion merger with Starwood Hotels and Resorts while serving as the company’s first chief executive from outside the Marriott family, die Feb. 15 at his home in Washington. He was 62. His company announced the death in a statement...
Of all the nightmare scenarios that may keep a hotelier awake at night, few are scarier than the prospect of having to delay the opening date of a new luxury hotel. The loss in potential revenue, coupled with the negative impact on pre-opening costs, income and cash flow – not to mention the adverse effects..
Hotel owners and operators looking to pick up distressed assets have had to wait longer than previously expected, but industry experts believe those opportunities will arise later this year. During the “Dissecting Distressed Hotels” panel at the online Americas Lodging Hotel Investment Summit Winter Update, hotel executives said owners of troubled properties have been able..
Hotel asset value and owner returns are influenced not only by cash flow from operations, but also by many other considerations. These include acquisition cost, capital expenditure requirements, capitalization rates, the amount and cost of debt, brand and operator encumbrances, physical condition, and upside opportunities. All of these factors must be actively managed within a..
