A hotel real estate advisor panel comprised of an owner, financial advisor, attorney and architect talked about the need for tax credits and other subsidies including adaptive reuse to get a boutique style hotel financed at the third annual Lifestyle/Boutique Hotel Development Conference. One of the major issues addressed is the mindset of lenders that…
Generating new business in an innovative way through texting is a solid idea when you buy a nightclub and want to add another marketing channel. Equally important is controlling wine pours that notoriously fluctuate more than mixed drinks and draft beer. Check out these ideas for your bar and club investment to promote sales and…
Our hotel expert review this week focuses on the recent report that demand will rise contrasted by the expectation that more room rate discounts will prevail this year as well. Is it possible the two can occur and overall room revenues will continue to rise more than just modestly? According to Tim Hart, executive vice…
The hotel income that a hotel economist considers when determining the potential loss resulting from a construction defects damages lawsuit usually starts with room revenue as its basis. In addition to the guestrooms that may have been impacted and the subsequent revenue loss, there are related revenues to be considered too. These include on-site food,…
There were two contrasting stories that talk about whether raising prices is a good idea especially if you are restaurant turnaround consultant. Of course, if you are charged with helping a failing restaurant regain lost market share, the first thought is to increase customers by way of lower priced promotions, specials and so on. However,…
Hotel investment advisors have their work cut out trying to follow the latest news, trends and studies on the lodging sector. Trying to advise investors to buy, hold or sell as a result of that information is challenging on any given day. Are we headed back to a recession after December 2011? Or, is it…
In part three the importance of having a ninety day plan as part of interim hospitality management services was addressed, including why it is a critical aspect at the beginning of the takeover by a temporary manager or management team. However, there are certain areas that require one to hone in on and drill down…
An operator and hotel management expert may be faced with performance issues in economic downturns that can affect their relationship with the owners and investors of the lodging property. This may be a result of when it is perceived that the operator gets all of the benefit through compensation and incentives, while the financial risk…
Recent reports suggest a hotel asset manager and lenders should take advantage of rising profit histories and sale transactions to sell distressed and underperforming hotel assets soon. It appears we are at the beginning of the cyclical nature of hotel valuations once again. Coupled with the lack of any significant new hotel development, demand for…
Going without a name brand to manage a lodging property can present both challenges and opportunities for a hotel real estate advisor and their investor objectives. Part of the challenge is the associated costs of that management agreement when a hotel turnaround is necessary. The other is whether having an independent management company will be…