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..
Executive roles are being filled at hotelAVE and Louvre Hotels Group, while the Hospitality Sales and Marketing Association International (HSMAI) has introduced its 2021 Americas board. Here’s a look: Stephen Stoycos joins hotelAVE as EVP of hospitality advisory & consulting: Hotel Asset Value Enhancement (hotelAVE) has appointed Stephen Stoycos as EVP of the firm’s hospitality..
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. ..
The HospitalityVIEW working group recently met for its first quarterly meeting of 2021. The group reflected on the tumultuous year the industry has had since the onset of the pandemic, and looked ahead to better understand where innovation and industry transformation are leading. Zach Aarons, partner at Proptech Venture Capital firm Metaprop, keynoted the session..
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..
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..
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...