You see, the game of budgets in most hotel companies where the corporate or regional master needs to approve the plan before it is presented to the owner, is a game of under promise now and hopefully over deliver next year. Some people I know call this the practice of sandbagging. It is not mean or deceitful, rather it is a game. If you are asleep at the switch when you are doing the review, well, that is your problem.
Another way to assess the bottom-line health of the U.S. lodging industry is to examine the ability of hotel owners to meet their debt obligations. If hotel operations are generating enough funds to pay the interest on the loans taken out by the owners for purchasing, building, furnishing, or operating their properties, then the investment and lending community is at ease.
'If Service is Beneath You Then Leadership is Beyond You.' I cannot find an owner on Google for this statement, so I am going to claim it as mine. If someone already coined this phrase I will let it go, if not it is mine. The reason why is because it is the foundation for the transformation I experienced as a financial leader.
The Baird/STR Hotel Stock Index fell 1.0% in July to 4,883. Year to date through the first seven months of 2019, the index was up 20.0%.
In my recent travels working with clients and delivering keynotes as well as financial leadership workshops for management teams and hotel associations, I noticed an interesting way that more than one client used to subsidize their meetings – reducing their costs – and I wanted to share it with you.
Creating a financially engaged leadership team takes time, commitment, respect for fair play, resources and a sense of adventure.
Yelp Inc. (NYSE: YELP) today released second quarter data for the Yelp Economic Average (YEA), a benchmark of local economic strength in the U.S. The report finds a sluggish local economy, as well as five metros that have bucked the national trend due to growing development.
It is common sense to know: With more knowledge and skills your career prospects and advancement possibilities are enhanced. In hospitality it is not quite as well understood.
Year to date, the Baird/STR Hotel Stock Index is up 21.3%
For any piece of equipment or system required to operate a hospitality business, there are typically many available choices that would perform various required functions. But while any of those machines may do a particular job, they are likely to differ in ways that make selection complicated.