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HFTP 2020–2021 Global Executive Committee and Board of Directors Begin Term
HFTP | November 3, 2020
The 2020-2021 Global Executive Committee and Board of Directors for Hospitality Financial and Technology Professionals (HFTP®) have officially begun their term at the start of this month. The association leaders represent a wide variety of segments within the hospitality industry, including: clubs, academics, hotels, finance, technology and more. The HFTP Global Board volunteers its time and professional expertise to help guide and progress the association to the forefront of the industry as it carries out its strategic plan. The HFTP Global Board is the primary decision-making body of the association. Under the Board's vision, HFTP is ab
What Hotel KPIs Analyze Complete Operational Performance?
HotStats | November 3, 2020
Consulting the right hotel KPIs can help juice a hotel’s bottom line. But just any old metric won’t do. If hoteliers want to uncover financial weak spots, revamp operations and boost profit, it requires complete operational metrics. These KPIs measure efficiency throughout every corner of the hotel. Want to use data to drive more hotel profit? There are a few essential operational hotel KPIs you need to be tracking. Why Operational KPIs Are Important Before examining the most complete operational metrics, it’s worth noting why these KPIs are important in the first place. Unfortunately, it’s a point most of the hotel industr
U.S. Hotel Profitability Stalled in September
STR | November 3, 2020
BROOMFIELD, Colorado—The U.S. hotel industry reported a third consecutive month with single-digit profitability, but improvements in year-over-year comparisons stalled, according to STR‘s September monthly P&L data release. In a year-over-year comparison with September 2019, the industry reported the following: GOPPAR: -91.7% to US$8.14 TRevPAR: -72.4% to US$68.58 EBITDA PAR: -109.3% to US$-7.03 LPAR (Labor Costs): -62.1% to US$31.94 Previous monthly GOPPAR comparisons came in at -91.3% (August), -93.3% (July), -105.4% (June) and -117.7% (May). “GOPPAR came in a bit higher than August on an absolute basis, but
Hotel Industry Performance: EHL’s Pulse-Taker Reveals 5 Pain Points
Jochen de Peuter | November 3, 2020
By Jochen de Peuter The year 2020 will be marked in history, surely for the travel and hotel industry. Most hotels suffer from a sudden disruption due to COVID-19 crisis and the consequent travel regulations. Still during these days of crisis, hotel performance and business continuity varies significantly from one hotel to another. What makes a hotel more vulnerable than another? We try to find the answers in this article. EHL Advisory Services has developed an online Hotel Pulse-Taker tool that allows hoteliers to evaluate and benchmark the long-term sustainability of their hotel business based on a multi-dimensional questionnaire. A
HOTEL THE MITSUI KYOTO, A Luxury Collection Hotel & Spa Opens in the Heart of Japan’s Ancient Capital
Marriott International | November 3, 2020
The Luxury Collection®, part of Marriott International Inc., today announced the opening of HOTEL THE MITSUI KYOTO, A Luxury Collection Hotel & Spa in Kyoto, Japan. Once the private residence of the aristocratic Mitsui family, the property’s 300-year-old main entrance, the Kajiimiya Gate, still stands today to welcome modern global explorers. HOTEL THE MITSUI KYOTO resides in the heart of Kyoto, the only luxury hotel in the city center with its own natural hot spring drawn from the thermal waters deep below ground. The hotel opens up to one of the world’s most enriching and desirable destination discoveries, including the 17th-centur
Remington Hotels Appoints Keith Oltchick as Senior Vice President of Acquisitions & Development
Remington Hotels | November 3, 2020
DALLAS (NOVEMBER 3, 2020) – Remington Hotels announced today the appointment of Keith Oltchick as Senior Vice President of Acquisitions & Development, further bolstering the company’s budding third party management portfolio. Bringing over 20 years of experience and connections in the hospitality industry to his new role, Oltchick will be responsible for the growth and expansion of Remington Hotel’s third-party platform and supporting clients in acquisitions, management transitions and new build development efforts. “We’re thrilled to welcome Keith to the Remington Hotels team as part of the continued growth strategy of ou
COVID Impacts Expected to Force Hotel Sales in 2021
HAMA | November 3, 2020
3 November 2020, Singapore – HAMA’s (Hospitality Asset Managers Association) member survey of the region’s hotel Ownership was just completed, and results confirm what many industry watchers have been whispering for months. Eric Levy, MD of Tourism Solutions International viewed the results of this survey and commented “In my 30 years in the region, we have had many crises, this one is different. We will see more forced sales of hotels, some by owners freeing up cash to reduce debt, some pressured by lenders and some perhaps even pushed into foreclosure/receivership by impatient lenders…something that lenders i
Estatefy Chooses NextPax as Exclusive Channel Manager
Estatefy | November 3, 2020
Barcelona, November 2020 - Estatefy, a leading all in one software solution for property managers, real estate brokers, vacation home owners and vacation rental management companies selects NextPax, provider of one of the most advanced worldwide channel management technologies for hotels, resorts and vacation rentals as its exclusive channel manager. One of the main selling points for the Estatefy and NextPax combination is that real estate agents can now combine their real estate sales software with vacation rental software capabilities. This powerful combination will provide brokers with much more added value and income. ‘Our partnership