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…
The revenue pricing cycle is changing in favor of hotels and many a hotel expert and their management peers are suggesting that now is the time to push higher transient room rates. All indications in the hospitality sector point to a stronger travel season this year and next. This is especially true on the domestic…
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 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…
In the recent October 2010 Lender News published by Atlas Hospitality, the delinquency of Commercial Mortgage Backed Securities (CMBS) loans rose again in August. Hotels are hurt the worst with the highest delinquency at 15.5%. However, it has not triggered any increased use of a court receiver and hotel receivership as an alternative remedy to…
Hotel property management services should consider taking advantage of the new Brand USA program to align hotel and resort marketing promotions to attract more international travelers. This is the first move in a long time by the folks in Washington to promote travel and destinations in America and there is an opportunity here for everyone…
The use of interim hotel management requires more focused attention and shorter term results that if a permanent manager is being engaged. It also depends on how temporary the needs are and if this is the better solution than permanent longer term management. This is due to in large part to who the users are…
Depending on what story your hotel investment advisor follows or even writes, there may be a recovery or not. Better said, what is a problem for some are opportunities to others based on recent news reported this last week. Here are some of those summaries that seem to reflect these trends: – According to Bobby…
As the lodging industry starts to stabilize, hotel and motel management companies will face tougher performance measures if the properties they manage lose the franchise. Owners of older hotels and motels that have not kept their up property with a PIP (Property Improvement Plan) can expect less leniency and more aggressive contract terminations as a…
There were three important articles recently that suggest the long awaited distressed hotel deals for investors and their hotel investment advisors may or may not begin to increase in 2011 going forward based on your interpretation of the message. However, an important inference amongst all are that a large amount of distressed commercial real estate…