A 30-year hotel vet, David has seen everything, a lot of which he shares in his book, The Prosperous Hotelier. Susan Barry host of the Top Floor Podcast and David talk about railroads, scams, and Russians.
As U.S. lodging industry performance decelerated in 2023, so did the amount of fees paid by owners to their management companies. Preliminary results from CBRE's annual Trends in the Hotel Industry survey find that total hotel revenue growth slowed to 6.9% in 2023, while GOP inched up by 3.5%. As a result, total management fee payments rose by just 1.2% during the year, well below the double and triple-digit growth rates seen in the previous two years.
Hotel industry analysts share their expectations for the first-quarter earnings calls from publicly traded hotel brand companies and real estate investment trusts.
This article is all about cash - keeping more of what's yours and making sure it's properly controlled. Cash controls are not complicated, but they need heightened awareness and a constant effort to be effective.
Over the past four years, utility costs at U.S. hotels have increased at a pace greater than total operating revenue. As a result, utility department expenses increased from 2.9 percent of total revenue in 2019 to an estimated 3.3 percent in 2023. As hotels have
February's job gains appear to validate the Federal Reserve’s cautious approach to lowering interest rates. We do not expect the central bank to begin cutting rates before June.
The decision, effective from March 15, 2024, was made by Euronext Paris's Expert Indices Committee following the quarterly review of the CAC 40 index.
Do you remember back in school when you learned about homographs? You remember, of course, those are words that have the same spelling as another word but have a different sound and meaning. What does this have to do with operational benchmarking? Is spelling important? Well, yes and no, spelling is always important, but when implementing operational benchmarking as part of the finance culture of the organization, it is important to understand what is significant in terms of your operation.
Roughly 7 in 10 Americans surveyed say they are still concerned about rising prices for everyday purchases, down only slightly from summer 2022 (83%) - when inflation peaked at 9.1%
For most U.S. hotel owners and operators, one of the major challenges in 2023 has been the need to control expenses amidst slowing revenue growth. Through September of 2023, the properties in CBRE's monthly survey of hotel operating statements have seen their total operating revenues increase by 7.4% year-over-year, while total operating expenses grew by 10.0% during the same period. The net result was a decline in Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of 0.2%.