The nightclub industry represents a significant part of the hospitality sector. With nightclub sales in excess of 700 billion dollars and with a revenue exceeding 26 billion, according to the official nightclub trade organization NICAA.org, thus, many nightclub managers could find themselves facing similar concerns with inventory control issues. Inventory control represents a core competency for…
A hotel, just like any business, ultimately must remain profitable to keep functioning. This requires its owners and managers to not only look at the day to day workings of the hotel, but also to see them in relation to a longer-term look at the larger financial picture. This is not as simple as cutting…
Are you struggling just to keep your bar’s doors open? If so, you are not alone. Most studies reveal that nearly 90% of all restaurant and/or bar owners will fail. Even though recent Cornell University studies lowered the number of failing bars/restaurants to 60%, this is still a staggering percentage. Unfortunately, many bar owners close their doors…
Leadership transition periods can be difficult for any business. When you go through a change in your hotel property management, you may need to correct course on what has happened to the business, or you may need to maintain a strong performance after losing a key manager. In either case, an interim hotel manager can help not…
Successful restaurant management in today’s constantly changing environment requires a large range of skills and significant breadth of knowledge. These and other factors are why an increasingly large number of successful restaurant owners turn to professional consultants for help and guidance. Finding the right restaurant consultant provides access to the latest in industry trends, regulations, and competitive…
Factoring in a weak economy as part of a restaurant business plan to determine if “now” is the time can be quite challenging and maybe impossible in some cities. If your instincts suggest that diners in 2010 and 2011 are eating out less, you are not alone. In the census reported this week, more than…
A business plan for hotel services should focus on adding value and maximizing the guest comfort experience as well as offering the best room rate. Guest gripes are often universal and reading your comment cards, customer surveys and talking to employees can provide clear insight into what most guests truly expect and want. There is…
If you are a hospitality asset manager and oversee hotel real estate investments in your investors portfolio that include lodging property in San Francisco, consider yourself lucky. Not because my group has been based here for over twenty-five years or because it’s a world class city second to none in many categories. It’s because the…
Owners, operators and restaurant experts who advise these clients are aware that the food service industry has mostly younger, lower wage workers. This demographic of employees in the workplace, who are often teens and twenty year olds especially in the quick service and fast casual sectors, can contribute to issues arising from pilferage, theft and harassment. These younger…
Think again if you are hospitality asset manager planning development of a new hotel here in the USA and you only associate “Made in China” with traditional manufacturing and predominately consumer goods. A Chinese company recently built and opened a 30 story hotel in only 15 days in that country. According to an excerpt from…