Hotel Industry Outlook
PKF: A Hospitality Investment Boom is on the Horizon
What Are the Main Challenges Facing the Hospitality Industry in 2024?
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Topic - PKF
Sustainable Hotels
Showcasing Hospitality Properties and Their Pioneering Eco-friendly Practice - By Adam Maclennan and Aneliya Antova
This article showcases real life examples of hotel businesses that are taking steps to contribute towards achieving the United Nations Sustainable Development Goals and meeting the targets by the Paris Agreement. Businesses and governments need to take action to meet the challenges we all face. We have highlighted seven hotels below where owners and operators are taking these challenges seriously and are finding ways for their businesses to be part of a solution which embraces hospitality and nature.
Greenwashing
Greenwashing: How Green is It? - By Adam Maclennan and Tomislav Sili
On March 22, 2023, the European Commission adopted a 'Proposal for a Directive on Green Claims'. The proposal is designed to put a stop to the practice of greenwashing and, if adopted by Member States of the Union, it will force companies doing business in Europe to be more scrupulous and evidence based about their environmental claims.
Hotel Development Saudi Arabia
PKF Hospitality Group: Saudi Arabia Currently Represents the Single Biggest Opportunity for Hospitality and Tourism
he PKF hospitality group recently held one of its 196+ spotlight events in Riyadh in recognition of the significant amount of projects that have been announced for Saudi Arabia, the largest sovereign state by landmass in the Middle East with a total of 2,150,000 km2 and 35 million inhabitants.
Co-Living
Co-Living - The New Real Estate Generation - By Tobias Siegel
Co-living can be defined as a mixed concept of hotel and permanent residence for different target groups. The focus of these concepts lies hereby on the attractive design of the public areas. One target group are digital nomads and young professionals who can work independently of their location and usually stay in a particular city for a few months before moving on and working from another location.
Diversity And Inclusion
Hotel Industry Could Be a Leader in Diversity, Equity and Inclusion - By Baron Ah Moo
Is DEI Destined To D-I-E During the Recession?
Ghost Kitchens
Ghost Kitchens - Emerging Opportunities and Increasing Convergence with Traditional Hospitality - By Akshara Walia
Hotels that do not require a full-service restaurant with dining space and may find leasing kitchen spaces to a ghost kitchen provider far more cost-effective.
U.S. Hotel Managers Achieved The Winning Formula In 2015
U.S. Hoteliers Beat Budgeted Revenues and Control Costs - By Robert Mandelbaum
Hotel managers exceeded their budgeted revenue projections while concurrently spending less than expected to operate their hotels. The result was a 2.2 percent profit surplus compared to budget.
Uniform System Of Accounts For The Lodging Industry
USALI Changes Offer New Benchmarks- By Robert Mandelbaum
Every ten years or so, the Financial Management Committee (FMC) of the American Hotel & Lodging Association revises the Uniform System of Accounts for the Lodging Industry (USALI). The USALI serves as the industry standard for reporting hotel revenues and expenses. Revisions to the USALI are necessary in order to keep up with changes in industry practice, as well as changes in accounting rules and regulations.
Hotel Cancellation Fees
Hotel Attrition and Cancellation Revenue - By Robert Mandelbaum
In an attempt to gain better control over their inventory and pricing, hotels have begun to tighten up their transient cancellation policies. Starting in 2015, some of the major hotel companies began to extend the time required by guests to provide notice that they will not be arriving and avoid being charged any cancellation fees. Prior to that, hotel companies introduced discounted non-refundable room rates similar to the airlines.