Crucial Metrics for Reflecting a Hotel’s Financial Performance
Hotel management is responsible for tracking various metrics that reflect its business activity, such as the amount of revenue hotel rooms generate. Analyzing this data categorized by hospitality industry acronyms, helps managers with budget planning and staff scheduling. Here’s a look at the most important metrics for hotel managers to track each day. 1. Average…
Read Article →California Lodging Investment Conference [CLIC] Opens Nomination Process for 2023 Hotel Development Deal of the Year
For Immediate Release Contact: Chris Daly, media (703) 864-5553 ch***@da******.com California Lodging Investment Conference [CLIC] Opens Nomination Process for 2023 Hotel Development Deal of the Year Winner Announced at [CLIC] 6 to be Held March 1-2, 2023, at Westin South Coast Plaza in Costa Mesa, Calif. Newport Beach, Cali., November 8, 2022—Officials of the…
Read Article →
How Has Employee Hiring and Retention Changed in the Past Year?
The pandemic changed the hotel industry in multiple ways, particularly how it approaches hiring and retaining employees. Many hotels were able to make a smooth transition toward a sharper focus on employee needs. To attract seasoned hotel talent, hotels must adopt a modern employee hiring and retention strategy. Employee Retention The hotel industry relies on…
Read Article →
Three Ways to Reconsider Your Room Pricing Strategy
While maximizing revenue has been the priority of the hotel industry post-COVID, doing so by invariably increasing hotel room prices would not prove to be very fruitful. Pricing needs to be a well-thought strategy that allows your business to thrive under the conditions under which you can best accommodate your guests. Setting the prices too…
Read Article →
All You Need to Know About Hotel Reputation Management
While providing excellent customer service is vital for building a positive reputation for a hotel, in the social media age, it is increasingly important how customers regard your hotel based on online reviews given by former guests and visitors. And even though internet reviews are becoming increasingly popular, word of mouth still has a lot…
Read Article →
