Restaurant economist outlooks on consumer spending and the casual dining segment all seem weak according to these recent stories. If your food and beverage operation is feeling the pinch, this may be why: New Low for Consumer Confidence! If the political wrangling over our debt issues has put everything on temporary hold in terms of…
In news we monitor as part of our resort consultant group, AAA is predicting more travelers will drive rather than fly over Thanksgiving. This number is up over last year and the main reason appears to be higher airfares coupled with a struggling economy. According to the report by Travel tracker AAA: “4 percent more…
One of the critical issues – if not the most important – in addition to proposing a Court Appointed Hotel Receiver for a particular hotel receivership is making sure the initial “order” moving to appoint the hotel receiver is sufficiently detailed, broad enough and specific to the uniqueness of a hotel and its operating business.…
A recent study by the National Retail Federation included the energy efficient restaurant cost impact of their foodservice operations from interviews of senior restaurant executives and operators. The biggest savings and overall reduction of costs is felt most in the kitchen, or what we in the industry refer to as the BOH (back of house),…
Earlier this year I attended a hotel valuation workshop to better understand in part what affect today’s investment and lending market will have on hotel real estate values and subsequent sales by a court appointed receiver in hotel receiverships. Put on by The Appraisal Institute of Northern California, the issues focused on how the valuation…
With the US and world economic systems still recovering from crisis, there is a need for hotel economist recommendations on whether to buy or sell hotel properties. Deciding whether to increase or decrease investment in the hotel and hospitality market will require more than just a general economic forecast. It is important to acquire as…
The use of a court appointed receiver by a lender to take over income producing real property and then sell those assets during the receivership may call into question their authority. Whether a rents and profit receiver can sell real property free and clear of liens is one issue. Another is the traditional argument that…
It is highly likely that you will inevitably face a legal issue and engage a Hospitality Expert Witness to bolster your defense, no matter if you are the owner, operator, or participant at nearly any economic or legal level of a hospitality industry entity. The two most commonly-defended liability issues are “standard of care” and “custom…
One key area being watched by investors and their hotel asset management firms is the disparity between hotel values and lodging demand. Although there are still stories about weak occupancies and average room rates, this doesn’t seem to be deterring investor’s price appetite for luxury properties in the USA and what they are paying per…
A recent study by a restaurant consulting and analyst firm says barbell menus will attract lower and middle income consumers. Barbell menus are typically priced and tiered to offer value and affordability targeted to those with less disposable incomes. In a domestic society where eating out is a significant part of our culture, restaurants have…