Operational Efficiency Archives

What Operators Can Do to Mitigate ‘Quit Rate’ Acceleration

March 29, 2022
Operational Efficiency
85 views

David Butler addresses the labor shortage by the numbers, provides insight into why employees are quitting and leadership competency tips that can improve retention. Read Full..

2020 Toolbox – Best practices for revenue management using the latest resources and tactics

March 1, 2021
Industry Insights
622 views

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..

Beyond Benchmarking – A simple statistical approach to unlocking value in food and beverage pricing

February 22, 2021
Operational Efficiency
593 views

When hotel managers determine the prices associated with room revenue, they apply a rigorous approach that draws on industry and market data. This allows hotel managers to optimize room pricing for their market, balancing supply, demand, services, and brand. Considering the rigor applied to room revenue pricing decisions, it is remarkable that the approach to..

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

February 8, 2021
Operational Efficiency
597 views

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..

Challenging the Industry Standard Paradigm to Management Performance Tests

January 25, 2021
Operational Efficiency
854 views

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..

Where brand concessions have had biggest impact

December 17, 2020
Asset Management
648 views

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..

Hotel Management, COVID-19, Government/Politics and You

September 24, 2020
COVID-19
575 views

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..

Labor Forecasting Post-COVID 19 – Why Using “Old” Productivity Metrics and Job Classifications Doesn’t Work

August 17, 2020
COVID-19
817 views

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..

Labor Forecasting Post-COVID 19 – Why Using “Old” Productivity Metrics and Job Classifications Doesn’t Work

August 11, 2020
Operational Efficiency
1,180 views

By: Jordan Bell, VP, PostScript Hospitality, hotelAVE’s Operational Efficiency division 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..

What worries owners, Operators about group business

July 30, 2020
COVID-19
972 views

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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