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Hotel Buffets Are Out. Here’s What’s In.
HotStats | April 29, 2021
By Rayna Katz Hotel food and beverage operations have radically changed in the wake of the pandemic. From breakfast buffets to banquet dinners, service has drastically altered to keep guests safe and as stopgap against weaker demand. Several of the adjustments made due to immediate needs are likely to remain in place for the foreseeable future, according to some F&B authorities. “The buffet is gone,” said Steven Kamali, CEO of Hospitality House, which provides F&B solutions for the hospitality industry, and has worked with many major brands to fine-tune service and offerings. “Hotels are now thinking about how they can pro...
A Year Later, the Hotel Industry Recalibrates, Reassesses
HotStats | April 27, 2021
Just over a year after the World Health Organization declared COVID-19 a pandemic, the global hotel industry is—slowly—stirring from hibernation and seeing at least modest gains in traveler demand. The wait has been long, and it remains a work in progress. But making headway is all you can ask for after a 12-month headache. In the U.S., which saw performance calve last March, before bottoming out in April, small gains continued to be made in most key performance indicators in March 2021—though the strides only shined a light on the decrepitude that was 2020. Consider gross operating profit per available room, which was up 328.9...
How to Keep Hotel Labor Costs Down When Business Ramps Up
Rayna Katz | April 21, 2021
By Rayna Katz Some changes made to cope with the pandemic likely will be industry norms, while the crisis also spotlighted the need for new practices to be put in place. When the coronavirus pandemic surged worldwide in 2020, sending hotel occupancy into free-fall, owners and management companies worked to reduce labor costs wherever possible. On top of layoffs and furloughs, corners were cut—when they could be without damaging the guest experience—and many employees were tasked with multiple jobs. Now, as the industry gears up to get back to business, what will hoteliers do to control labor costs? How many measures that have bee...
Are Hotels Prepared for the Return of Meetings & Conferences?
HotStats | April 5, 2021
Meetings and conferences generate big business for hotels. The pandemic made a big mess of that. On the rebound, hoteliers are eager to see that demand segment return. The arrival of COVID-19 vaccines—coupled with a societal eagerness to get out of the house—has led to a relatively robust bounce in leisure travel, which helped underpin a listless hospitality business. Add Zoom fatigue of workers to the list of travel motivators and the return of medium-sized and large-scale gatherings aren’t too far behind. That’s good news for hotels, as properties suffered massive losses due to the near evaporation of group business last year....
Around the Globe Hotel Profit Perks Up, Just Not in Europe
David Eisen | March 30, 2021
By David Eisen The U.S. hotel industry was in need of a month like February. For Europe, it was another in a string of profitability pain. In a turnaround from previous months, gross operating profit per available room (GOPPAR) in the U.S. turned positive in February and at $10.82, it was 675.5% higher than in January. Though the jump into positivity after eight of the last 10 months being negative was cause for celebration, GOPPAR in February is still 89.5% down over the same time a year ago. In step with the boost in profit was a jump in both rooms and total revenue. RevPAR was up $14 over January to $50.81, while TRevPAR increased...
HotStats Releases 2020 Global Profit and Loss Data Report
HotStats | March 24, 2021
LONDON - March 24, 2021 - HotStats, the global leader in monthly profit and loss data benchmarking, has released the findings of its "Profit Matters Global Hotel Performance Review 2020." The annual report tracks global hotel industry performance across myriad revenue, expense and profitability metrics and features commentary focused on the trends that drove business in 2020. 2020 was like no other year on record and operational data supported that, with most metrics down considerably year-over-year, as the hotel industry was forced to cope with the pernicious effects of the COVID-19 pandemic. Though asset types fared differently, all wer...
Is This the Lean Hotel of the Future?
David Eisen | March 18, 2021
By David Eisen In one of many entertaining scenes from the 1981 war comedy “Stripes,” peak Bill Murray cajoles peak John Candy to mud wrestle a trio of scantily clad women in a bar. You can imagine what ensues, and if you can’t, the internet does. It’s a sexist cinematic trope to be sure (hey, it was the ‘80s), but during the scene, Murray’s character inflates the ego of Candy’s character by calling him a “lean, mean, fighting machine.” A lie, yes (Candy was rotund and not nimble), but it did the trick, leading to an unctuous Candy tussling in a pool of mud. What does this have to do with the hotel industry? Murray...
6 Ways to Keep Your F&B Costs in Check
HotStats | March 8, 2021
Outside of fast-food and fast-casual restaurants, which are predicated on familiarity and uniformity, no two food and beverage operations are the same. Each has its own characteristics; its own challenges. It’s these variables that keep managers up at night wondering how to tweak the revenue side and reduce operational costs without adversely affecting product quality and delivery. It’s a lot to juggle. F&B is the second-most important revenue stream in a hotel after rooms. It is imperative, then, to control the cost structure to ensure a healthy bottom-line. Let’s not forget: F&B is highly volatile, which is to say we all ea...
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