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IHG® Hotels & Resorts Opens Two New Hotels in the Heart of Poland’s Capital
IHG | November 30, 2020
The new openings in Warsaw’s most future-thinking building, the Warsaw HUB, mark the debut of Crowne® Plaza Hotels & Resorts in Poland IHG® Hotels & Resorts, one of the world’s leading hotel companies, today announces the opening of Crowne Plaza® Warsaw – The HUB and Holiday Inn Express® Warsaw – The HUB in the heart of the dynamically developing business district, Rondo Daszyńskiego. The hotels will form part of The Warsaw HUB, a newly built modern business complex by Ghelamco Poland, that offers a unique combination of office and retail space, a conference centre and two hotels. With Warsaw Chopin Airport jus
Short-Term Rentals Outperformed Hotels in Select U.S. Markets During October
STR | November 30, 2020
HENDERSONVILLE, Tennessee—Short-term rentals in three key U.S. cities showed substantial month-to-month performance growth and posted higher occupancy than hotels in the market, according to October 2020 data from STR. Building on STR’s world-leading hotel performance database, Philadelphia, Nashville and Miami are the first three U.S. markets where the company has expanded its benchmarking offerings via a pilot study. Included in STR’s short-term rental sample are both multifamily and single-family short-term rentals. October 2020 short-term rental performance, month-over-month comparisons Philadelphia Occupancy: 70.9% (
U.S Flips to Positive Hotel Profit as Europe Backslides
HotStats | November 30, 2020
The U.S. in October shed the ignominy of being the only global region to have not recorded a positive month of profitability since the start of the COVID-19 pandemic. The country finally reached gross operating profit per available room (GOPPAR) above $0, but at $5.43, it was still down 95.5% compared to the same time last year. And though the U.S. climbed back into the black, Europe regressed, backsliding to €-5.06 after two consecutive positive months, as the Middle East and Asia-Pacific remained above water. Even so, positive momentum heading into the fourth quarter is threatened to be upended by escalating COVID cases combined wit
4 Reasons GOPPAR Should Be on Your List of KPIs
HotStats | November 30, 2020
With the pandemic still raging and hotel operations still in flux, hoteliers are still left figuring out what to do next. Churning out profit in the age of COVID is a Herculean task, but consulting the right data can be a step in the right direction. Unfortunately, if you’re relying solely on narrow KPIs such as RevPAR to craft your hotel performance plan, you might as well be building a house of cards. It’s bound to collapse when the slightest breeze picks up. Looking for a hotel KPI that’s guaranteed to support a stronger hotel performance plan? Try gross operating profit per available room (GOPPAR) on for size. Sure, the top li
Hospitality Financial Leadership: A Bit About “You Sally”
David Lund | November 30, 2020
By David Lund By someone’s estimate there are roughly one million hotels in the world. I take it that number includes all the different kinds of hotels from small inns and hostels all the way up to your full-service multi-outlet mega hotel operations. For simple math I am going to estimate that half of this number of hotels fall into the small inns and hostels, and that leaves 500,000 of what I’m going to call real hotels. Of those 500,000 I am willing to bet that 50 percent do not know about or use “You Sally.” If we ramp that number up by multiplying the 250,000 real hotels by the average number of department managers, GMs and
A New Model for Safety and Automation in F&B Management
Linda Pouliot | November 30, 2020
By Linda Pouliot F&B represents a significant portion of a hotel’s non-room revenue. Especially in the pandemic era, F&B management is among the most critical operational challenges confronting the hotel industry. Today’s environment offers two parallel challenges: Achieving operational efficiency and, at the same time, responding to, meeting and anticipating changing guest preferences that are driving a growing demand for safe, secure environmentally sound on-property experiences. As hoteliers rebuild their businesses, here are guidelines they can consider in constructing a new kind of F&B operating model that meet t
Investors Targeting Distressed Assets Work to Get “Dry Powder” Off the Sidelines
Turnbull Capital Group | November 30, 2020
Firms waiting for an opportunity to invest in distressed assets are looking at different avenues to approach their goals. Turnbull Capital Group is one player in an increasingly crowded field of capital jockeying for opportunity to take advantage of potential distress that may emerge in the commercial real estate market in the wake of the pandemic. Over the past nine months, the commercial real estate investment banking firm has partnered with more than $20+ billion in dry powder that it plans to aim at investment opportunities in distressed assets. Specifically, it has aligned itself with a half dozen domestic family offices and Ameri
The Newly Renovated and Rebranded Margaritaville Resort Palm Springs Opens in California
Margaritaville Resort Palm Springs | November 25, 2020
PALM SPRINGS, Calif., Nov. 25, 2020 -- Global lifestyle and hospitality brand Margaritaville and Davidson Hotels & Resorts debut Margaritaville Resort Palm Springs, a desert oasis located in the heart of Palm Spring's Uptown Design District. This property is the first Margaritaville resort to open on the West Coast. The newly renovated and rebranded destination features 398 rooms with panoramic views of the San Jacinto Mountains or resort grounds from private terraces and patios; six Margaritaville-inspired dining options with outdoor seating; a 10,000 square foot St. Somewhere Spa; and more than 50,000 square feet of indoor and