News Archive: October 2018
Cannabis & The Hospitality Industry
Chamberlin Public Relations | October 1, 2018
As more states ease laws on cannabis usage, hotels are finding new ways to incorporate the drug into their product offering, either catering to new demographics or offering new services for those eager to try something different and exciting. According to a Gallup poll from late last year, more than 65 percent of Americans "support legalizing marijuana for both recreational and medicinal use." So far, 31 states across the country now permit marijuana use in some form, even though the drug is still classified as "schedule 1," meaning that it has a high potential for abuse. Even so, recreational use of cannabis is now legal in nine states...
Hyatt Hotels Corporation to Acquire Two Roads Hospitality
Hyatt Hotels Corporation | October 8, 2018
CHICAGO—October 8, 2018-- Hyatt Hotels Corporation (NYSE: H) today announced an agreement to acquire Two Roads Hospitality, an international lifestyle hotel management company with a unique collection of distinctive brands, properties and a robust development pipeline around the globe. Through the addition of Two Roads, its established lifestyle brands and the management agreements for the majority of its 85 properties in eight countries, Hyatt will expand its brand presence into 23 new markets while enhancing its offerings in lifestyle hotel experiences and wellbeing. With Two Roads and its distinctive collection of lifestyle hot...
Shiji Expands Hospitality Services Adding PMS / POS Support & Consulting Services to the Americas
Shiji Group | October 23, 2018
Atlanta, October 23, 2018 - Continuing Shiji Groups' strategy to service customers locally in region, Shiji is adding a new Professional Services team to consult on and support leading proprietary and third-party hotel and restaurant technologies in the Americas. Shiji's Professional Services team will focus on Property Solutions Support Services, Project Management and Consulting Services. Lead by a team of subject matter experts with application experience averaging more than ten years each; Shiji's Professional Services team provides critical support when needed. The team consists of 40+ trained experts in all levels of hotel softwar...
The Future of Revenue Management Is Not What It Used to Be
Dr.Gabor Forgacs | October 11, 2018
By Dr.Gabor Forgacs Not too long ago we thought the future of Revenue Management would be more data; faster processing capability; more revenue streams optimized; and more properties managed by one revenue professional. Now that the second decade of the 21st century is nearing its final year we can see that the "more" and "faster" will give way to something slightly different. How We Got Here The revenue profession in the hotel industry has grown up: there are revenue analysts, revenue managers, directors of revenue, even vice presidents and other executives – it is fair to say the revenue profession is emerging as a champion of p...
Hotels to Face New Accounting Regulations That Could Impact Bottom Line
Clark Nuber | October 10, 2018
(Bellevue, Wash., October 10, 2018): Hotels, motels and inns should prepare now for changing accounting regulations that will impact how they recognize revenue. "These new Generally Accepted Accounting Principles (GAAP) may significantly impact the bottom line of hospitality businesses," said Julie Eisenhauer, a CPA and shareholder of Clark Nuber, PS, in Bellevue, Wash. "Although the new rules won't take effect for private companies until 2019 and 2020, businesses would be wise to start planning for them now." One significant change involves customer loyalty programs, which allow customers to acquire additional accommodations or service...
How Marijuana Legalization Impacts Hotels
Larry Mogelonsky | October 10, 2018
By Larry Mogelonsky, MBA, P. Eng. (www.hotelmogel.com) With national legalization of marijuana in Canada coming into effect on October 17, 2018, it raises quite a few lucrative opportunities for hotels to capitalize on this new market, as well as a few cautionary notes. Further, with numerous states already adopting similar policies and even more soon to join the fold, this trend is one you must pay attention to. For starters, you must ask whether or not there is any money to be made in marijuana tourism. While you can certainly draw affirming statistics from the likes of anomalies like Amsterdam or Copenhagen's Christiania District, a ...
Banyan Tree and Angsana Lang Co Appoints Justin Wermers as New Area Director for Food and Beverage
October 25, 2018
LANG CO, Vietnam (Oct. 25, 2018) – With 280 hectares of prime oceanfront real estate, Laguna Lang Co offers plenty of scope for special guest experiences. And it is this potential for creativity that most excites Justin Wermers, who has just been appointed as Area Director for Food and Beverage at Banyan Tree and Angsana Lang Co – the two award winning luxury resorts currently on the books at the integrated project in Central Vietnam. Wermers, a Dutch national with more than 15-years of experience in F&B and hospitality, comes to Lang Co following stints in the Middle East with InterContinental and, most recently, at the...
Online Customer Reviews: Their Impact on Restaurants
Dr Jean-Philippe Weisskopf | October 5, 2018
By Dr Jean-Philippe Weisskopf and Philippe Masset Dining out, going for a movie, or enjoying a bottle of fine wine are all 'experience goods', that is, they have to be consumed or experienced in order for them to be assessed and evaluated. Online customer reviews are valuable as they allow potential consumers to get in-depth information from others for a relatively low cost and little effort. With one click, they can solve an information asymmetry problem in which service providers are better informed than customers. The internet allows customers to share their views and feedback cheaply and efficiently with a large audience. Why do con...
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