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M&A in Hospitality: Stick or Twist?
February 15, 2018
By Stéphane Haddad What's the outlook for mergers and acquisitions (M&A) activity in the hospitality sector in 2018? We saw deals peak a few years ago in 2015, not in the number of deals as such – they have continued to grow – but rather in the value of the transactions. Landmark deals involving the Marriott's acquisition of the Starwood group and Accor's purchase of Fairmont Hotels & Resorts helped push the value of deals that year to some 200.3 billion US dollars. Since that peak of activity in 2015, M&A activity has cooled somewhat, with two years at a more reasonable pace in the region of 70 billion do...
Marketing Trends in Hospitality: From Technology to Niches
Dr. Meng-Mei Maggie Chen | February 13, 2018
By Dr. Meng-Mei Maggie Chen Over the past year, Google made major inroads into the travel and tourism sector, changing the layouts of Google Flights and Hotels and, as a result, it's hard to differentiate these from online travel agencies and metasearch sites. Further, Google Trips now offers discounts for tours and activities, and allows users to create folders for future travel plans. This option could help Google identify the travel intentions of consumers early in the planning process and make relevant suggestions based on the travel history. Certainly, Google's footprint in the travel ecosystem is expanding. Depending on hoteliers'...
Hospitality Financial Leadership – Creating a Hotel Accounting Policy Manual – The Dos and Don’ts
David Lund | February 12, 2018
By David Lund After recently completing a policy manual for a client, I want to share what worked for this hotel company and what could work for you. I also want to clear the air on policy vs. procedure. I know it is a big challenge to get a policy manual together for a hotel or hotel company. The big brands have resources to get the job done but the smaller brands and management companies do not have the same bandwidth. It is a project that always gets kicked down the calendar to another month or quarter. Check out another article I have written on why creating a hotel accounting policy manual is so challenging: http://hotelfinancialco...
10 F&B Trends and the Next Big Bang for the Buck
Frank Schuetzendorf | February 8, 2018
By Frank Schuetzendorf Food and beverage has witnessed health growth over the past couple of years and with this trend there have been some significant shake-ups. The sector has moved increasingly from imitation to innovation. New technology is driving products such as bio-hacked foods which may not sound very appetizing as they are de-composed and then reconstituted based on artificial intelligence (AI). There's also a deeper understanding of F&B components at the molecular level. Quantum computing, as it is called, allows companies to simplify and speed up the process. And as new and fresh supplies are generated, it becomes a new ...
Nobody Asked Me, But… No. 191: Hotel History: “Buffalo Bill” Cody
Stanley Turkel | February 8, 2018
By Stanley Turkel "Buffalo Bill" Cody (1846-1917) William Frederick "Buffalo Bill" Cody (1846-1917) was an American legend, bison hunter, government scout, Wild West showman, pony express rider and hotel developer. In 1902, Cody opened the Irma Hotel named after his daughter. He anticipated an increasing number of tourists coming to Cody, Wyoming on the recently-built Burlington Railway. While most Americans knew about the legendary Buffalo Bill because of his Wild West Show, he was also a promoter of tourism in the Yellowstone National Park. After his father's death, Bill Cody became a rider for the Pony Express at age fourteen. Durin...
Use Data to Unlock Meaningful Guest Insights
the Author | February 8, 2018
By Terri Miller, Chief Executive Officer & Co-Founder, Concilio Labs Today's hotelier is constantly bombarded with information. In the ongoing effort to keep guests happy, a single hotel may maintain many different systems and solutions in place to keep operations running seamlessly—everything from the PMS to various POS platforms to a CRM and more. Each of these systems, solutions, and platforms represent a potential data goldmine to glean information about guest preferences, purchase habits and even sentiment. Sometimes, more data is just that – more. Access to this data reveals a larger question for hoteliers: How...
Intelity Named HTNG 2018 TechOvation Award Semi-Finalist
Intelity | February 8, 2018
Intelity Voice Request ranked in the Top 3 'Most Liked' product submission videos by the public; Winner to be named at HT-NEXT in March in San Diego [Orlando, Fla. – February 8, 2018] — Intelity, designated as the Official Forbes Travel Guide Mobile and In-Room Technology, was named a 2018 TechOvation Award Semi-Finalist by Hospitality Technology Next Generation (HTNG) this week. The award program recognizes companies for innovative products new to the marketplace from 2017 or coming in 2018. Intelity is one of 10 semi-finalists vying for this top honor. Intelity's Voice Request video submission was ranked among the Top 3 "M...
Hotel Beacon Taps Guestware for Fast Guest Response, Personalized Property Experience
Guestware | February 6, 2018
Higher TripAdvisor Scores Show Hotel Beacon Guests Value Personal Service, Fast Request Fulfillment February 6, 2018 – When the Hotel Beacon completed its most recent upgrade it wanted a way to fulfill guest requests fast. The busy 278-room Upper West Side property installed Guestware to seamlessly connect guests with hotel team members to improve the guest experience. The result today is higher TripAdvisor scores and a new ranking in the top 60 best NYC hotels. "Our guests are experienced travelers who expect a comfortable stay. Many are here for the Metropolitan Opera and New York Ballet. Guestware helps us respond to any reque...
Grupo Posadas Partners with ALICE to Standardize Operations Across Their Portfolio of 147 Properties
ALICE | February 5, 2018
The ALICE platform will allow Posadas to increase accountability and operational efficiency for all hotels across the eight Posadas brands via a unified and shared technology platform New York, NY — February 6, 2018 — Leading hospitality operations platform ALICE has been selected by Grupo Posadas S.A.B. de C.V., the largest hotel operator in Mexico, to power operations for their portfolio of 147 properties. Uniting all eight of Grupo Posadas' hotel brands with a robust technology platform will support and improve standardization of operations across the group and provide for insights from guest request and staff performance...
Build, Buy, Hold or Sell? Late-Cycle Owner Strategies
Robert Rauch | February 5, 2018
Use this guide to determine which strategy you as an owner should pursue in 2018. by Robert Rauch This year, some analysts talk about how the cycle is "getting long in the tooth" since we have been expanding for over 90 months. Since the tourism industry is resilient and still growing, success is very possible for another several years. Further, 2018 will be very prosperous with tax reform, strong consumer confidence, a durable job market and a robust global economy. If you're considering whether to buy or hold a hotel today, the quality of your team is paramount. One operator cannot optimize revenues and expenses, make sales calls and ...
Hospitality Financial Leadership – Free Property Management Software – More Disruption?
David Lund | February 5, 2018
By David Lund Our industry is ripe for all kinds of disruption. The two big disruptors today are online travel agents and home sharing services. If we look back, we see all kinds of "other" disruptors that seemed on first glance to be negative. In many cases, they ultimately helped solve a problem we could not master. Or, they ended up being better at the task than we were. The first and largest one that comes to mind is in food and beverage operations. The disruption comes in two forms: pure outside competition and internal desire. The outside disruption—the free-standing restaurant—has been prolific and its effects are deb...
Why 2018 Will Be Great: Hotel Industry Forecast
Robert A. Rauch, CHA | February 2, 2018
By Robert A. Rauch The big news in 2017 was the stock market, consumer confidence and the economy in general. Tax reform, wage growth, reduced regulations and the strength of our nation could keep this robust economy going and dramatically enhance it. Supply growth has begun to moderate somewhat, in part due to high construction costs and also due to lender restraint. Oil prices are back up, consumer confidence is solid, interest rates remain low albeit forecast to inch up and the U.S. and global economies seem stronger than last year. Gross domestic product may actually approach 3 percent in 2018, personal income growth is strong and l...
Tourism Tidbits: Customer Service: Going Beyond the Expected
Dr. Peter Tarlow | February 1, 2018
by Dr. Peter Tarlow Leisure travel and tourism are all about turning dreams into realities. Be it the traveler seeking adventure, spirituality, knowledge, or relaxation, all travelers are united by certain commonalities. Among these is the fact that the person has sought out this experience, and has chosen a specific locale. Destinations that forget this basic principle are bound to disappear. In fact it does not matter if the Travelers seek the enchanted moments, or dreams turned into memories, how we treat the person will set not merely the tone for the trip but also the person's willingness to return. Some of the main reasons that tr...
Hospitality Financial Leadership – Every Line Needs an Owner
David Lund | January 29, 2018
By David Lund My dear mother Donna often recited her favorite sayings, especially when she wanted to make a point. She had some really good sayings, and several have stuck with me. One of them I relate to hotel financial leadership. Her saying was "Many hands make light work." How does that relate to creating an engaged leadership team at your hotel? Let me explain. It is true in any aspect of our lives at home and work that teamwork makes things easier. The reason it makes them easier is that we have more effort directed toward the thing we are trying to do. The simplest example is trying to lift a heavy rock. If we work in a coordinat...
Your Hotel Has a Score or Ranking So Why Shouldn’t Your Guest?
Terri Miller | January 25, 2018
By Terri Miller, Chief Executive Officer & Co-Founder, Concilio Labs The hotel industry dramatically changed with the launch of TripAdvisor in 2000. Today, the site is one of the largest recognizable brands in the world, with more than 315 million members and over 500 million reviews. While initially reviews were just a small part of their rollout – the site debuted with a button that asked travelers to add their own reviews. Guests embraced the concept and TripAdvisor is now one of the key instruments in measuring guest experiences within the industry. Today, the notion of soliciting user generated content, specifically for t...
Learning from Sushi Master Jiro
Larry Mogelonsky | January 24, 2018
By Larry Mogelonsky, MBA, P. Eng. (www.hotelmogel.com) I trust that many of you have seen the beautiful, 81-minute documentary called "Jiro Dreams of Sushi" which was produced in 2011 (if not, look for it on Netflix). The film discusses the life and opus of Jiro Ono, the 85-year-old proprietor of Sukiyabashi Jiro, a 12-seat sushi restaurant located within Tokyo Ginza subway station. The restaurant does not even have its own washroom, and yet it has been awarded three Michelin stars, with Jiro being the oldest chef ever to obtain this level of prestige. How did he do this? While the movie will explain his methodology and philosophy in de...
Six Ways to Design a Winning Guest Experience
JLL Real Views | January 22, 2018
Even grand can be bland for today's experience-driven hotel guests, who prefer unique amenities and good connectivity over sheer aesthetics. Amid fierce competition from alternative accommodation providers like Airbnb, the industry is getting the message. To address the competitive threat, hotel owners and brands continue to look for innovative ways to differentiate their hotel with technology, unique design and creative operating solutions—with the ultimate goal of increased revenue, great guest experience and loyalty. Global hotel groups are responding by creating a flurry of new sub-brands as well as re-evaluating existing bran...
Hotel Tech in 2018: Tools and Technologies to Remove Friction and Deliver Value
Expedia.com | January 18, 2018
By Arthur Chapin Simply keeping up with the digital expectations of today's tech-savvy consumer is no longer an option. Exceeding those expectations is a travel industry imperative and an opportunity for hotels to focus on the only thing that truly matters to consumers: the end-to-end guest experience. One reason for the growing consumer adoption of new technologies is their growing digital impatience and expectation for instant responses, answers and solutions to their queries and purchasing requests. Underscoring this is the growing adoption of digital assistants. Today, 62 percent of consumers are comfortable with an AI application r...
Nobody Asked Me, But… No. 190: Hotel History: Moana Surfrider Hotel
Stanley Turkel | January 17, 2018
Moana Surfrider Hotel (1901), (Waikiki Beach, Hawaii (791 rooms) The Moana Hotel opened on March 11, 1901 as Waikiki's first hotel. It is known as the "First Lady of Waikiki." In the late 1890s, Waikiki was a swampy backwater area surrounded by duck ponds and taro fields. The beautiful beach was the site of homes of Hawaiian royalty and the wealthy kamaainas including the Honolulu landowner Walter Chamberlain Peacock. In 1896, Peacock incorporated the Moana Hotel Company and hired architect Oliver G. Traphagen (1854-1932) to design it. Traphagen designed many buildings in Duluth, Minnesota for both public and private owners which show t...
Live! Casino & Hotel Selects KEYPR as Guest Experience Technology Partner
KEYPR | January 16, 2018
New Live! Hotel to deploy KEYPR's cloud-based platform which brings the latest guest experience technology to the hospitality industry Los Angeles, CA (Tuesday, January 16th) -- KEYPR®, the leading cloud-based technology platform for the hospitality industry providing an integrated end-to-end experience for guests and staff through embedded and mobile devices, announced today that Live! Casino & Hotel, one of the largest commercial casinos in the country, will deploy its expansive hospitality platform at the new Live! Hotel, which is set to open in Spring 2018. "After conducting a thorough and extensive search, we have deter...
Hospitality Financial Leadership – Recording Average Length of Stay
David Lund | January 15, 2018
The one thing I see time and time again with clients is just how poorly their financial statements are set up. The statements almost always lack basic information that is readily available and is critical information for maximizing profitability: poor design and missing features. If they were a car, I would want to call them a Lada. My apologies to any Russian readers. The flip side of this challenge is all the information that is needed to fix this reporting problem is at your fingertips. No new software is required. No real investment. Your team just needs to use what they already have and put it to work. Typical stumbling blocks to c...
Hotels Step Up Their Online Game to Encourage Direct Bookings
JLL Real Views | January 15, 2018
Getting guests to book directly on a hotel's website rather than through an online travel agent (OTA) is a key challenge that hoteliers are gearing up to tackle in 2018. When OTAs first rose to popularity in 2008 during the economic downturn, hotels viewed them as saviors for their ability to fill hotel rooms that otherwise would have remained empty. Today, that view has shifted dramatically. Popular third-party search engines are raking in more bookings than ever and charging significantly higher commissions, too. In fact, momentum toward convenient aggregate websites has grown to such a fever pitch that in 2016 OTA bookings in the U.S...
How a Small Guest Services Team Delivers Five-Star Service
ALICE | January 10, 2018
Luxury Napa Valley hideaway Milliken Creek Inn & Spa, a member of the prestigious Four Sisters Inns collection, is using ALICE's concierge technology, ALICE Concierge, to help their four-person front desk team provide guests with the kind of exceptional concierge service expected of a much larger team. Guests of Milliken Creek Inn, a 12-suite boutique that sits on a lush three acres overlooking the Napa River, count on the property's guest services team to help them take full advantage of everything this idyllic wine country hotel and locale have to offer. For the Inn's four front desk staff (who not only double as the property's co...
Hotel Trends in Technology for 2018
Larry Mogelonsky | January 10, 2018
By Larry Mogelonsky, MBA, P. Eng. (www.hotelmogel.com) We all know that the future holds many fascinating possibilities about what can be adapted to improve the overall guest experience. The question is what should be acquired and implemented. With this as a guide, I've selected the following hospitality technology trends for the coming year not wholly on wow factor but far more so on practicality and ROI. 1. Wielding Your CRM It's been a long road from simply trying to comprehend what a CRM is to full data terminal integration and leveraging the inferences based from these interconnections. In 2018, those ambitious hoteliers who have f...
