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Hotel lobby overseen by hotelAVE, a hospitality consulting firm providing hospitality industry insights and hotel advisory services
Archive
Category: Operational Effectiveness

Market in Decline? – It’s time to focus on fundamentals and implement these metrics and operational strategies to maximize financial performance during declining economic periods

Industry prognosticators continue to revise the U.S. lodging outlook downward. In a declining economic period like the one currently underway, hoteliers—including owners, asset managers, and operators—need to proactively develop and implement strategies that preserve both top and bottom lines, and best allow them to successfully navigate lean times. Here, we present and discuss a number..
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Challenging the Industry Standard Paradigm to Management Performance Tests

Hotel management agreements formalize the contract made between the hotel owner and the operator. They document the requirements, conditions and expectations placed on each party involved. Performance tests figure prominently among these.  They are included in hotel management agreements to protect an owner’s investment by allowing the owner to terminate the agreement in the event of poor performance..
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Where brand concessions have had biggest impact

Steering a firm with more than U.S. $5.5 billion in assets under management and a deep track record, hotelAVE CEO Michelle Russo has a firm grasp of both the big picture and the day-to-day details. She recently shared her perspective on how the owner-brand dynamic has evolved, best coping strategies for owners and how the..
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Hotel Management, COVID-19, Government/Politics and You

COVID-19 has become our worst nightmare or our brightest star, it all depends on the part of the economy you call home. If your revenue stream relies on success in the hotel, travel and tourism industries, you may be seriously disappointed. Beginning in January 2020, this virus changed segments of the economy that are unlikely to fully..
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Labor Forecasting Post-COVID 19 – Why Using “Old” Productivity Metrics and Job Classifications Doesn’t Work

As hotels gear up to reopen, owners and operators will rely heavily on their property teams to produce operating forecasts to guide their bumpy ride back to stabilization. An important part of these forecasts will be the estimates of future labor needs required in a post-COVID-19 operating environment – both in terms of covering core..
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Labor Forecasting Post-COVID 19 – Why Using “Old” Productivity Metrics and Job Classifications Doesn’t Work

As hotels gear up to reopen, owners and operators will rely heavily on their property teams to produce operating forecasts to guide their bumpy ride back to stabilization. An important part of these forecasts will be the estimates of future labor needs required in a post-COVID-19 operating environment – both in terms of covering core..
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What worries owners, Operators about group business

Hotel owners and operators continue to reassess their business models as the industry continues to reel from COVID-19. During a webinar titled “Emerging strong: Shaping the future of travel and hospitality” presented by Dixon Hughes Goodman, executives discussed their outlook on corporate travel demand, their pivots in development strategy and their theories for how the..
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