HVMG & Industry News

  • HVMG hiring processes facilitate an increased retention rate.   Read More

  • Accomplished leaders exhibit a collaborative style that produces the best and brightest solutions to whatever challenges they face.

  • Before you are able to speak to the accounting relationship between the Front and Back Office systems, it is important to understand what defines the Front and Back offices within a hotel operation.  These terms, in their simplest form, describe the part of the building where people work.

     

  • Revenue managers are under considerable pressure to increase ADR but as we know, there are many factors that can affect rate. For example, when occupancy starts to slip, a ‘heads in beds’ strategy can prevail. To achieve this, we typically lower rate, offer specials tied to margins on third-party sites, run promotions on Global Distribution Systems (GDS) that include commissions and booking fees, or even play in the opaque booking world.  

  • In today’s ever-changing, online arena, hotels are often faced with bombardment by companies selling something.  Social Media Monitoring tools, Search Engine Optimization (SEO) assistance, Pay-Per-Click advertising, and the list goes on and on.  A big question that I hear lately is, “Do I need an independent website for my hotel?”  My answer to that is “yes.”  And “no”…

  • Transparency is one of those things that is either there or it’s not. You won’t see the word stated in a corporate vision or mission statement but the extent to which financial targets and results are known and shared is most assuredly a deliberate decision made by the company’s senior leadership.

  • December 5, 2011
    LodgingMagazine.com
    Jay Molitor

    It's no secret that profit essentially boils down to two things at a hotel: maximizing revenue and minimizing expenses.  And while they may appear separate from each other at first glance, revenue and expenses are entwined to such an extent that they must be viewed and managed holistically. 

    In fact, the key to controlling your labor expenses - the largest single expense at any hotel - is accurately forecasting and managing your revenue stream.  Here's why.

  • November 15, 2011
    LodgingMagazine.com
    Robert S. Cole

    Work in the hospitality industry as long as I have (since the '80s) and you will inevitably see core principles for success come to light.  Whether it's learning from your own trials and errors or watching the fortunes of your colleagues and competitors rise and fall, I've found that the same basic fundamentals for success come into play time and again.

  • November 1, 2011
    LodgingMagazine.com
    Mary Beth Cutshall

    Take a look at accomplished professionals you respect and admire and I guarantee they have a strong ability to connect with others. Successful business people understand that one of the fundamental aspects of their success is the ability to effectively build and maintain relationships. This is especially true in the ‘people business’ we call the hospitality industry, where an individual’s or even organization’s ability to establish meaningful connections with people often can spell the difference between success and failure.

  • September 30, 2011
    LodgingMagazine.com
    Karan Narang

    Capital Expenditures (Capex) have a significant impact on a hotel both during the project and after completion. With rooms out of order and other potential complications, it can be quite a challenging process. Apart from obvious considerations like seasonality, there are other factors that are even more important when timing a hotel’s Capex.  

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