Motivating Teams: A Discussion on Leadership
One of the incredible things about the hospitality industry is that teamwork is truly at the center of our success. No one person can succeed on his or her own be it in hotel [...]
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07, 2019
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06, 2019
Primer on Reading Hotel Financials: Increasing Asset Value Is The Name Of The Game
Part 3: Increasing Asset Value Is The Name Of The Game Now that we have covered Operating Revenue, Departmental Expenses, Undistributed Expenses, and GOP, let’s determine how we use the hotel financial statement to [...]
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06, 2019
Primer on Reading Hotel Financials: GOP Is More Than a Political Party
Part 2: GOP Is More Than a Political Party In the first post of this series, we introduced the concept of the Uniform System of Accounting for Hotels and then looked at Operating Revenue [...]
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05, 2019
Primer on Reading Hotel Financials: A Three-Part Series
Part 1: These Are Funny Looking Financial Statements Among the questions we’re commonly asked is why hotel financial statements look different. The simple answer is that they reflect the actual operations of a hotel [...]
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05, 2019
How Hotel Operations Directly Impacts Asset Value
One of the unique aspects of hotels is that in addition to being a real estate asset, they are also operating businesses. The daily performance of each moving part of a hotel directly impacts [...]
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04, 2019
Municipalities Love Hotels
Working with local municipalities is a key part of the hotel development process. Establishing strong relationships with key players at the local level can streamline entitlements and permitting, ensure a smooth working relationship, potentially [...]
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04, 2019
Hotel Development Process – Part 5: Love Me That Terrific ROI
Now that we have covered location, brand selection, financing, and development, the last major component of a hotel is operations. After all, you’re not just building an asset, it will be a 24/7 functioning [...]
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03, 2019
Hotel Development Process – Part 4: Shovel Meet Dirt
In the first three posts of this series we reviewed location, brand selection, and financing the project. Now we move into the heart of the hotel development process. Development Getting through site selection, brand [...]
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03, 2019
Hotel Development Process – Part 3: It’s All About the Benjamins
In the first two posts of this series, we reviewed the key aspects of location and brand selection. We now turn to how to finance a hotel development. Financing Once a site has been [...]
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03, 2019
Hotel Development Process – Part 2: Brands, Brands, and More Brands!
In the first post of this series, we reviewed selecting the ideal location for your hotel. We now turn to identifying the appropriate brand. Although operating as an independent hotel is an option (more [...]