The Baird/STR Hotel Stock Index dipped 3.4% in August to a level of 4,911. Year to date through the first eight months of 2021, the stock index was up 7.4%.
A lot gets written about certain things in the hotel industry and others not so much as a mention. I am not saying it is simply a matter of blatant favoritism or anything like that but it is not lost on me that certain items get the limelight. In this piece, I am going to shine a light on two of the hotel teams third-line mainstays. This pair keeps us on track month after month and they need a little more respect.
The Baird/STR Hotel Stock Index rose 1.9% in July to a level of 5,086. Year to date through the first seven months of 2021, the stock index was up 11.2%.
When I was an assistant controller, my boss at the time was fond of saying the following about our general manager, I could do his job, probably not as good as he can, but I could still do his job. BUT, he continued, he could never do mine he doesnt know how to, he is not an accountant. This is a powerful message to get into your DNA as a financial leader.
If you only use RevPAR index, then you are missing the bulk of the story
Over the many years I have worked in hotels, I have had the pleasure of working with some exceptionally fine and talented individuals. This story is about one GM and his penchant for simplicity.
The Baird/STR Hotel Stock Index dropped 3.0% in June to a level of 4,993. Year to date through the first six months of 2021, the stock index was up 9.2%.
Although telecom accounts for a small percentage of expenses, data during 2015 through 2019 revealed a significant upward trend in telecom related expenditures. At the same time, the data also revealed a steep decline in revenue generation from charges for phone calls and internet access.
The Baird/STR Hotel Stock Index dipped 2.8% in May to a level of 5,148. Year to date through the first five months of 2021, the stock index was up 12.6%.
With the vaccine roll-out accelerating globally and recovery on the horizon, the budgeting process can be undertaken with a greater sense of optimism than 2020. However, the hospitality industry is still suffering from the effects of the pandemic. The rebound and recovery varies widely by country, leading to a somewhat clouded outlook for 2022.