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 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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Three Ways to Minimize Hotel Food Waste and Cut Costs
When over 800 million people worldwide don’t have enough food, almost one-third of all food is wasted before consumption. Nearly one-fifth of the wasted food ends in landfills that emit greenhouse gases and contribute to global warming. Hotels account for a considerable part of this food wastage. Here are three ways to reduce hotel food…
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Data Analysis of Hotel Downturn Strategies
Data analysis of past economic downturns helps hotels determine which strategies they should employ in the future. Historically, hotel owners and operators have struggled to adapt to downturns in the lodging cycle. One reason for this struggle is that hotel operating expenses do not decrease proportionally to drops in room demand. This issue is demonstrated…
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Making Your Hotel Safer
Steps to take to improve the safety of your hotel property. Regardless of the size, type, or location of your hotel, every property owner’s first priority is creating a safe environment for guests and staff. However, improving hotel safety is no simple task; it involves continuous effort and coordination between owners, hotel staff, and regulatory…
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