A Case Study in Optimizing Length of Stay From Wellness Capex
Adam and Larry Mogelonsky | April 17th, 2024
IDeaS Releases 2024 Hotel Technology Predictions
IDeaS | November 15th, 2023
Hospitality Financial Leadership: $600,000 Trash Can
David Lund | May 6, 2024
David Lund is the Hotel Financial Coach, a thought leader and trainer on using financial data to drive your business decisions and your career. A 30-year hotel vet, David has seen everything, a lot of which he shares in his book, The Prosperous Hotelier. Susan and David talk about railroads, scams, and Russians. What you'll learn about in this episode: Why it is so important to ask questions How to get better at understanding the P&L What railroads have to do with luxury hotels How much time to spend on your expense checkbook What GMs and owners who don't share numbers are up to [00:00:00] Susan Barry: This is ...
Labor as We Know It Is Changing: How Hoteliers Can Fill the Gap
Elad Inbar | May 6, 2024
By Elad Inbar Hotels with Wi-Fi and televisions were, at one point, unimaginable for hoteliers, but as technology evolved, it became necessary for the hospitality industry to follow. Today, we are in the middle of an AI revolution — one that meets resistance from skeptics — but history has shown that early adopters of technology have kept hotels running by adapting to changing consumer needs. Clearly, new technology pays off. Recent research is showing that the robotics market is expected to grow with a CAGR of 12.29 percent in the next seven years, exceeding $225 billion in 2030. With operations being impacted by short staffing and ch...
Millennials and Their Top Five Expectations in Hotels
Estefania Lozada Pinedo | May 6, 2024
By Estefania Lozada Pinedo The rise of the millennial generation (of which I am one) has led to a significant shift in consumer behavior, especially in the travel and tourism industry. I have noticed that millennials prioritize experiences over material possessions, redefining the parameters of satisfaction and fulfillment. As millennials become the most frequent travelers of our time, the hospitality industry must adapt its offerings to align with their unique preferences. This article explores the top five trends millennials look for when staying in a hotel and what aspects can make a millennial consider your place. Instagrammable S...
Business Travel Professionals Show Optimism, Commitment in Their Career Outlook for 2024, According to Latest GBTA Poll
GBTA | April 30, 2024
Business Travel Professionals Show Optimism, Commitment in Their Career Outlook for 2024, According to Latest GBTA Poll Work life balance, contentment and industry opportunity in their roles fuel loyalty Global travel buyers and suppliers also report continued knowledge gaps, desire for clarity and implementation challenges related to New Distribution Capability As the business travel industry continues to show strong indicators toward reaching a spending forecast of $1.5 trillion USD in 2024, the latest sentiment poll released today from the Global Business Travel Association (GBTA) reveals an industry workforce of experienced,...
DO’s and DON’Ts of Selling Tech to Hotels
Terence Ronson | April 29, 2024
By Terence Ronson INTRODUCTION This DOCUMENT outlines challenges CIOs and CTOs face when approached by tech vendors, highlighting communication issues that lead to frustration. It provides DOs and DON’Ts to help tech sellers effectively engage with decision-makers. This advice is backed by Martin's 35 years of International experience, where he managed tech deployment across hotels in the APAC region. His insights are valuable for vendors aiming to successfully market to the hospitality industry, emphasizing best practices for positively impacting guest experiences through technology. These do’s and don’ts are by no means an exhaus...
Should I Stay or Should I Go?: Keeping Hotels Open During Renovation
Cicero Construction | April 29, 2024
While renovations ensure a hotel continues to be a popular destination, it's no secret that renovations can be disruptive for guests. Confronted with this dilemma, a hotel owner is left with the question: “Should we stay open during the renovation or should we close?” The correct answer depends on several factors. Pro: Closing Your Hotel On one side of the ledger, closing the hotel makes good sense. It allows for a far broader scope with work done in less time. Total re-branding of the hotel, a large-scale PIP, or a major build out can be completed on a fast track schedule without concern for subjecting guests to noise or other dis...
3 in 5 Younger Travelers Go the Extra Mile for Live Events, AAA and Bread Financial Survey Finds
AAA | April 26, 2024
New study shows Gen Z and Millennials are willing to travel the farthest and spend the most to attend destination events COLUMBUS, OH (April 26, 2024) – A new study from AAA and Bread Financial finds younger generations are driving a surge in live event travel. Approximately three in five Gen Z (65%) and Millennial (58%) respondents confirmed they have traveled in the past 12 months and/or plan to travel in the next 12 months for in-person events like concerts, sporting events, comedy shows, and book readings that are more than 50 miles from home . This compares to 43% of Gen X and just 27% of Baby Boomers. Going the Extra Mile and Spen...
The Impact of Airbnb Short-Term Rentals on Rural and Urban Communities
Andrew Brenner | April 25, 2024
By Andrew Brenner In less than two decades, short-term rentals have thoroughly transformed the hospitality industry, wresting 15% market share from hotels. From a feel-good pioneer of the sharing economy to a $100bn behemoth, Airbed and Breakfast, better known as Airbnb, has revolutionized hospitality from its beginnings in 2007 — creating a whole new market in the process. But what happens to a community when Airbnb comes to town? In this second article of our three-part series, we take a deep dive into the impact of STRs, in particular Airbnb, and how communities are reacting. Paris moves to regulate STRs In the beginning, STRs were...
FTC Announces Rule Banning Non-Competes
Michael H. Strub, Jr. | April 25, 2024
The U.S. Federal Trade Commission’s recent decision to ban non-compete agreements marks a pivotal shift in employment regulations nationwide. This rule not only prohibits new agreements but also retroactively impacts existing ones. From its broad definition of “worker” to its exceptions and impending legal challenges, understanding the nuances of this rule is crucial for employers preparing for compliance. JMBM Partner Michael H. Strub, Jr. explains the implications of this landmark decision. FTC Announces Rule Banning Non-Competes by Michael H. Strub, Jr., JMBM’s Litigation Group Employers throughout the country should be aware t...
From Wall Street and Silicon Valley to Hospitality Leader: Exclusive Interview and Insights From DerbySoft Co-Founder Feng Ou
Alan E. Young | April 24, 2024
By Alan Young Steve Jobs once said, “The mark of an innovative company is not only that it comes up with new ideas first, but also that it knows how to leapfrog when it finds itself behind.” There is, perhaps, no more relevant sentiment to apply to the hospitality industry – a sector that is continuously molded by the fire of consumer preference yet often utterly resistant to the crashing waves of technological change. Of course, this isn’t a novel observation; hospitality has long been criticized for its slow adoption of new-age technology and processes. However, it is a reality that bears repeating, both to identify the progr...
Insights into the Hotel Industry: A Conversation with Bob Rauch
Robert Rauch | April 22, 2024
In the interview with Gary London, Bob Rauch discusses various aspects of the hotel industry in 2024, particularly focusing on the United States and Southern California, with an emphasis on San Diego. Listen as we dive into the resilience of the hotel market, technology improvements, and labor challenges within the industry. Resilience of the Hotel Market: Despite facing challenges such as 9/11, the Great Recession, and the COVID-19 pandemic, the hotel market has stayed resilient, with periods of strong growth interspersed between downturns. San Diego, in particular, has managed to capture markets even during weaker periods due to its c...
Radisson Hotel Group Releases Its 2023 Responsible Business Report, Marking 35 Years Since Its Pioneering First Environmental Policy
Radisson Hotel Group | April 22, 2024
2023 was an exceptional year for Radisson Hotel Group’s award-winning Responsible Business program. The Group made significant progress on its Net Zero by 2050 transition, achieved important milestones in employee engagement and diversity, and continued to look beyond its borders to convene the hospitality industry in meeting the growing demand of consumers for green travel. The release of Radisson Hotel Group’s 2023 Responsible Business report marks the 35th anniversary since the Group issued its first pioneering environmental policy – the first ever in the industry. The 2023 report outlines key initiatives and milestones the Grou...
Luxury Hotels and a ‘Sense of Place’: The Branding Imperative
Dr. Suzanne Godfrey | April 17, 2024
By Dr. Suzanne Godfrey ‘Sense of place’ has long been a buzz phrase. Linked to a range of disciplines from urban planning to sociology, nowadays it is increasingly being used in the hospitality industry. It captures the physical aspects, culture and history of a place, as well as its impact on the senses, which can trigger emotions. Over time, it can create feelings of familiarity, comfort and security, as well as a sense of belonging: it’s a place where one feels, quite literally, ‘at home’. As we journey on, checking out brand identity examples will give us a better understanding of this concept. Brand differentiation: Locatio...
A Case Study in Optimizing Length of Stay From Wellness Capex
Adam and Larry Mogelonsky | April 17, 2024
By Adam Mogelonsky The word ‘optimization’ in today’s world implies the use of data and metrics for continuous business improvement, but it also implies making tradeoffs and devoting limited resources to certain goals ahead of others. For today’s hospitality world, we are confronted by so many data points, so many partners or siloed interests and so many different activities vying for our attention or capital. To make informed, strategic decisions that will unify various operations towards a common objective, hoteliers and owners must carefully pick the key performance indicators (KPIs) that they will optimize and prioritize. Wh...
Navigating Challenges of AI and Maximizing Value in the Service Sector
Dr. Nicole Hinrichs | April 16, 2024
By Dr. Nicole Hinrichs Artificial intelligence is revolutionizing not only traditional sectors but also reshaping the very essence of hospitality and service industries. The potential for transformation is vast, yet it's imperative to advance cautiously, striking a delicate balance between technological advancement and preserving the human touch, which remains the cornerstone of the service sector. As we navigate this paradigm shift, let's try to understand the boundaries and challenges of AI application and adhere to strategic investment guidelines. Doing so not only unlocks the boundless potential AI holds but also addresses the legitima...
Tourism Tidbits: Travel Ethical Review
Dr. Peter Tarlow | April 12, 2024
By Dr. Peter Tarlow It is not an exaggeration to state that the twenty-first century’s third decade has been one of challenges both for the tourism industry and for nations around the world. Security and safety issues, mixed with issues around energy, ecology, and sustainability have and will continue to play major roles in in the development of travel and tourism. These challenges do not pertain solely to the tourism and travel industry. The travel and tourism industries, however, are to a great extent dependent on disposable income. For example, when nations around the world face difficult economic hurdles these economic pro...
Redefining Business Mobility: Insights Into Travel and Office Trends for 2024
Charles Oswald | April 12, 2024
By Charles Oswald During his recent conversation with Ryan Embree for the Hospitality Trailblazers series on the Suite Spot podcast, President and CEO Charles E. Oswald talked through his trends and predictions for 2024. Here, Charles expands on those thoughts. In the ever-evolving business travel landscape, we observe significant shifts in market trends. Currently, there’s a general softening in leisure travel trends coupled with an improvement in business travel. These changes are critical as we adapt and strategize for the future. Key indicators that are paramount in our analysis include Office Utilization trends and Air Traf...
4 Tips to Attract & Retain Gen Z Employees
Mark Lewis-Brown | April 9, 2024
By Mark Lewis-Brown The hospitality industry is no stranger to evolution, and after surviving the chaos of the COVID pandemic and the aftermath, hoteliers are much more adept at pivoting as new trends and developments push the hospitality industry in new directions. 2024 has already ushered in a great deal of change, as consumer booking trends change and many of the top global economies experience contractions, but as always, there will be many other shifts that will impact the hospitality industry over the coming years; one of the most significant changes that we are currently experiencing comes with the entry of Gen Z into the workforce, w...
Unlocking Organizational Potential With Human-Centered Leadership
EHL | April 8, 2024
Human-centered leadership is an emerging and influential leadership style that puts people first within an organization. It emphasizes deeply understanding employees' needs, actively supporting their professional growth and fulfilment, and co-creating an engaging, psychologically safe, and inclusive work environment. Human-centric leaders act with authenticity, communicate their vision in a compelling and collaborative way, encourage teamwork and new ideas, and foster a culture of trust and innovation. This article will explore the multitude of benefits that human-centered leadership offers organizations, provide strategies and best practi...
Six Ways to Create Your Brand’s Experience Personality
Shep Hyken | March 14, 2024
By Shep Hyken Last week, I wrote an article that compared the different concert experiences I had with two rock legends, Bob Dylan and Ringo Starr. The title of the article summed up the point I was trying to make: Do You Give Your Customers an Experience – Or Just a Transaction? How to Create an Experience Personality I want to take it a step further this week. Last week’s content was meant to get you thinking. Now, I want you to take action on the content. So, here are six ways to create an experience personality that will transform your company or brand from merely providing products and services to doing so with personality: ...
Best Habits for Hotel Sales Site Tours: Stand Out When They Stop By (Whether in Person or Virtually)!
Doug Kennedy | March 7, 2024
Doug Kennedy’s Next Training Webcast - Complimentary Registration Now Open Sponsored By Travel Outlook, Better Talent, and Track Hospitality Software Register your team and participate live, or view the recording of Doug Kennedy’s next 40-minute training webcast scheduled for Monday, March 18, from Noon – 12:45pm EST. REGISTER HERE “While many group and event bookers go through the buying cycle without ever visiting the hotel in person, there are still plenty who prefer a site tour,” said KTN President Doug Kennedy. “And smart salespeople always offer to conduct live virtual site tours for those who cannot visit.” Ty...
Will 2024 Go Up, Down or Sideways for Hoteliers?
Robert Rauch | March 6, 2024
[fusion_builder_container type="flex" hundred_percent="no" equal_height_columns="no" menu_anchor="" hide_on_mobile="small-visibility,medium-visibility,large-visibility" class="" id="" background_color="" background_image="" background_position="center center" background_repeat="no-repeat" fade="no" background_parallax="none" parallax_speed="0.3" video_mp4="" video_webm="" video_ogv="" video_url="" video_aspect_ratio="16:9" video_loop="yes" video_mute="yes" overlay_color="" video_preview_image="" border_color="" border_style="solid" padding_top="" padding_bottom="" padding_left="" padding_right=""][fusion_builder_row][fusion_builder_column typ...
Fraud Detection in Hotel Transactions: A Machine Learning Framework
Shahinez Guetal | March 5, 2024
By Shahinez Guetal, Area Front Office Manager at Marriott International The hospitality sector is vulnerable to many fraudulent transactions, which can occur in different forms, from bogus bookings to stolen credit card details. These activities have an impact on revenue and erode customer confidence. Machine learning (ML) is useful for detecting this fraud in hotel transactions. The article explores the intricacies involved in fraud detection within the hotel industry and presents a comprehensive ML framework that may be used to address such issues. Fraudulent Activities Digitalization of the hospitality industry has allowed guests...
Hard Rock Hotel & Casino Atlantic City Announces Over $10 Million in Bonuses to Team Members
Hard Rock Hotel & Casino Atlantic City | February 28, 2024
[fusion_builder_container type="flex" hundred_percent="no" equal_height_columns="no" menu_anchor="" hide_on_mobile="small-visibility,medium-visibility,large-visibility" class="" id="" background_color="" background_image="" background_position="center center" background_repeat="no-repeat" fade="no" background_parallax="none" parallax_speed="0.3" video_mp4="" video_webm="" video_ogv="" video_url="" video_aspect_ratio="16:9" video_loop="yes" video_mute="yes" overlay_color="" video_preview_image="" border_color="" border_style="solid" padding_top="" padding_bottom="" padding_left="" padding_right=""][fusion_builder_row][fusion_builder_column typ...