10 Smart Hotel Investment Tips to Ensure Higher Profits
Measured by revenue, the market size of the U.S. hotel and motel industry is currently about $133.5 billion. Moreover, experts expect the industry to continue growing in the post-COVID era, meaning new investments in the sector will likely be profitable. Here are 10 smart hotel investment tips to ensure higher profits. Conduct Due Diligence To…
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How Hotels Are Making It More Comfortable for Their Guests to Travel
As various states reopen following mass COVID-19 vaccinations, people are hitting the road again. While the increasing demand for business travel may be a relief to businesses and entrepreneurs, the COVID-19 pandemic is still a threat. As such, hotel businesses should ensure that their guests are both safe and comfortable. To achieve this, different hotels are…
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How Hoteliers Are Dealing with Labor Shortages Following COVID-19
While the U.S. hotel industry is increasingly showing signs of a post-pandemic rebound, hoteliers are still struggling with labor shortages. At the start of 2020, there was a shortage of about 900,000 workers in the hotel industry. More than 3.1 million jobs were lost during the pandemic in the hospitality and leisure sector, aggravating the…
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Understanding the Benefits of Hotel Industry-specific Financial Software
Financial bookkeeping is a time-consuming yet essential aspect of your business. To give you an idea, it enables you to track your income and expenses, determine the profitability of your business, establish your financial strength, and make sound business decisions. Depending on the size of your business, you may require financial software to analyze and…
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Boutique Hotels’ BYOB Experiences to Address Travel Anxieties
Social distancing requirements have limited the number of people that can safely be at a venue at the same time. Thus, brick & mortar businesses have come up with the “Bring Your Own Bubble (BYOB) concept. The idea is trending in the hospitality industry, where boutique hotels are offering exclusive spaces to families or groups…
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