What New Research Reveals About Technology Investment for Hotels
Study shows that chain hotels are more likely to prioritize investments in new technology. In a study of 1,200 hoteliers, Expedia Group found that large, chain hotels are twice as likely than independent hotels to prioritize technology investment. Inversely, smaller, independent hotels are 1.5 times more likely than chain hotels to prioritize room renovations. So,…
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Hospitality Labor Shortage is Affecting Profits
How a lack of workers will affect hotel sector profits. Despite high occupancy rates and a steady increase in average room rates, the hotel sector is expected to see a lower profit margin this year. This is largely due to the fact that revenue growth is not fast enough to keep pace with increasing operating…
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Luxuries That Improve Customer Satisfaction and RevPAR
Offering the right perks to impress guests and boost revenue per available room (RevPAR). Revenue per available room (RevPAR) is an accurate measure of how a hotel is doing. This measure takes into account the hotel’s occupancy rate and its average daily rate to get a more exact estimate of the revenue that the property…
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Tips for Reducing Workers Comp Insurance Claims on Your Property
Learn how you can save on your workers comp costs. As the owner of a hotel property, you understand that workers are vulnerable to on-the-job injuries. While some incidents are completely unavoidable, many on-site injuries can be prevented by taking the appropriate precautionary measures. Here’s what you can do to reduce the number of workers…
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Hoteliers, Use Thee Tips to Control Project Costs
Consider this advice to help you control your project costs. For new hoteliers or companies with smaller budgets, finding the money to undergo a new building project or renovation can be difficult. However, controlling your project costs isn’t an impossible task. Careful planning and an emphasis on open communication can ensure that your project stays…
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