There are benefits and downfalls to the reliance by hotels in trouble or transition on use of OTA (Online Travel Agents) such as Expedia, Orbitz, Priceline and Travelocity. Since my group works as both an Interim Hotel Manager for short term assignments or being enlisted as the longer term Hotel Asset Manager to oversee a…
Are you a lender or law firm contemplating a hotel receivership as a solution for a possible foreclosure or some other related action? Unlike other types of real estate, such as apartments, offices and industrial uses, hotels are complex real estate assets and an operating business as well. If you are new to working with…
With new technology becoming available, there are fresh opportunities arising for thehotel economist to better collect analytics and understand their customer demographic. With customer data, you can then start to build a better understanding of what expectations may be of your hotel and work to not only meet those wants, but exceed them. Here are some…
Restaurant advisors recommend treating your online reputation as a never ending story. Review sites such as Yelp can also provide powerful marketing solutions if you know how to keep up with your customers input and comments. One online company for marketing and reservations for restaurants suggests taking some ideas from a popular movie story line: “There…
There is certainly a good deal more news suggesting hotel receivers and property managers will be dealing with many hotel foreclosures this year. However, some of that activity appears to be focused in those parts of the country that are east of the Mississippi, at least so far. The bigger question that remains unanswered is…
A recent report suggests green restaurant plan funding by owners and operators for their foodservice businesses will increase this year. Many expect to devote more money toward capital and operational improvements that are green and increase sustainable restaurant practices. Here are some excerpts from that article and the National Restaurant Association’s 2012 Restaurant Industry Forecast…
If you are a bank, lender or investor who usually does not work with a court appointed receiver or use a receivership as a solution for a pending hotel foreclosure or to resolve a dispute, it is important to know these facts: Hotels are complex operating businesses that are also real estate property assets and…
There are times in the course of a lawsuit when a judge appoints a neutral person to be in charge of the business and property of one of the parties to the lawsuit. A court appointed receiver is usually requested by the lender if there is a strong likelihood that the property might no longer be…
Groupon can be a best friend or an unwanted guest from a restaurant management expert standpoint when it is not used correctly. Somewhat like the Entertainment Books of old that the customer could use at whatever restaurant provided the coupons, Groupon is not always going to get you return guests. Like it or not, some…
Foodservice consultants from our group find the new study from the National Restaurant Association on the benefits of food trucks a potential boon to both startups and struggling food and beverage operations alike. Highlights of this research from the NRA suggest several reasons why operators of existing restaurants should consider adding one or more food…