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Over the last two years, resort RevPAR grew over 30% and many bottom lines doubled. Yet, consumers had no rate sensitivity. They craved getting away; they booked suites and splurged on prix-fixe meals and expensive wine. An unintentional reduced workforce and the elimination or reduction of services contributed to the strong bottom line expansion, though..
How Eroding Customer Satisfaction Impacts Profit. As hotel demand returns to pre-COVID levels (or exceeds it in the case of destination resorts), hotels are facing new challenges particularly as it relates to the guest experience. Staffing shortages, supply chain challenges and reduced or modified levels of service show their scars throughout the industry. What has..
July 8, 2022 / USA Today Some hotels are in desperate need of a post-pandemic renovation. Here’s what they should do After a long pandemic, many hotels are run-down and in desperate need of renovation. If you aren’t careful, you could stay in one this summer. When it comes to hotel development spending, the U.S...
According to a May 2022 article published by Trepp, close to 9% of all CMBS loans in the hospitality asset class were in special servicing. Although the year-over-year default rate has improved, there may be signs of trouble ahead..
At its post-COVID peak in 2021, corporate travel indexed at 80 percent of 2019 levels while leisure travel exceeded 2019 levels. All signs are positive for the return of travel. Airports, hotels, restaurants and entertainment venues are busy but corporate travel is still lagging. So why is corporate travel not catching up? Read the..
Travel Daily News article on Branded All-Inclusive Resorts. Once considered primarily a hospitality segment catering to budget-conscious travelers, today’s major all-inclusive companies offer a sophisticated guest experience and a wide array of amenities and services at various price points. These customized and high-end products and services help create lasting memories among a more demanding clientele...
How the hotel sector outperformed expectations. Not only was there no pandemic-induced bloodbath for hotels, but the lodging industry actually exceeded expectations. Michelle Russo, founder and CEO of Hotel Asset Value Enhancement (hotelAVE), joins the program to discuss how hotels finessed the situation, and why she sees opportunities for innovations and heightened profitability going forward...
When Omicron hit in full force, the rate of RevPAR recovery (as a percentage of 2019) in January and February stepped down from December’s level as consumers cancelled upcoming trips in the short-term and delayed future travel planning. As a result, nationwide occupancies dipped to 84% of 2019 levels during the first three weeks of January 2022, compared to above fair share in certain weeks in December, based on STR data.
NEW YORK, March 3, 2022 /PRNewswire/ — hotelAVE is pleased to announce that CEO and Founder Michelle Russo has been named Jack A. Shaffer Financial Advisor of the Year, the most prestigious recognition awarded to the top financial advisor in the hospitality real estate investment industry. The award was presented on January 25, 2022..
