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HotelExecutive.com Daily Digest
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HOTEL BUSINESS REVIEW: Monday Sep 05, 2016
Eco-Friendly Practices
By Larry Gillanders, Co-founder, Ace DuraFlo Systems
Americans are increasingly concerned with their water quality. But you should be, too. You may not even know that your property could be liable for delivering lead-contaminated water to guests. But what causes high lead levels in water, anyway? What actions can you take to ensure your hotel's water is safe and healthy? How do insurance companies leave you liable? This article will help provide vital knowledge about the current lead problem and how you can make your property's water safe. Read on...
DAILY HEADLINES - Monday Sep 05, 2016
Business & Finance
Hyatt and Southwest Value Partners to Develop 540-Room Hyatt Regency in Nashville, Tennessee
Business & Finance
Hotel Equities Selected to Operate Newly-Renovated Fairfield Inn & Suites in Alamogordo, New Mexico
Appointments & Promotions
The Hollywood Roosevelt Hotel Appoints Akshay Bahl as General Manager
Appointments & Promotions
Mark Wachal Appointed New General Manager of Steigenberger Hotel Bremen
Business & Finance
Kimpton Hotels & Restaurants Completes Investigation of Previously Announced Payment Card Security Incident
Appointments & Promotions
Peter B. Mikkelsen Named General Manager of the Steigenberger Hotel Cologne
Appointments & Promotions
Dr. Jillean Justice Introduced as New President of The Greenbrier
Business & Finance
London's Hotel Xenia Joins Autograph Collection
Acquisitions & Hotel Openings
Chateau on the Park Reopens as a DoubleTree by Hilton Following Complete Refurbishment
Acquisitions & Hotel Openings
The Westin Jakarta Debuts in Indonesia Led by General Manager Arun Kumar
Acquisitions & Hotel Openings
Hangzhou UDC Group Opens New Marriott Hotel in Qianjiang New Town CBD, Hangzhou
Appointments & Promotions
John Edwards Joins Hospitality Ventures Management Group (HVMG) As Vice President of Design and Construction
Acquisitions & Hotel Openings
New 110-Room Homewood Suites by Hilton Opens in Trophy Club Area of Fort Worth, Texas
Business & Finance
The Exeter Inn Honored with 2016 Business of the Year, Tourism/Hospitality Award by the Exeter Chamber of Commerce
Business & Finance
FHG to Develop Hampton Inn and Suites in Village of Bridgeview Illinois
Hotel Newswire is a free daily newsletter offered through the Hotel Business Review
Group Meetings
By Irby Morvant, Jr., General Manager, Hyatt Regency San Francisco Airport
As hotel group meeting business grows in 2016, groups are looking to hotels to offer cutting edge technology and environments that are especially conducive to collaboration, creativity and fresh perspectives. Gone are the days of professionals working alone in their rooms-across industries, people want to work in open areas, interacting and socializing seamlessly. With this in mind, Hyatt Regency San Francisco Airport, located between Silicon Valley and San Francisco, recently completed a top-to-bottom transformation to become a hub of connectivity for professionals and group meetings. The Burlingame-based property welcomes approximately 330,000 guests each year, with almost half the hotel's overnight guests visiting for meetings and events. Read on...
       
Coming Up In The October Online Hotel Business Review


Feature Focus
Revenue Management: Measuring All Hotel Revenue Streams
Revenue Management is a dynamic and ever-evolving profession and its role is becoming increasingly influential within hotel operations. In some ways, the revenue manager's office is now the functional hub in a hotel. Primarily this is due to the fact that everything a revenue manager does affect every other department. Originally revenue managers based their forecasting and pricing strategies on a Revenue per Available Room (RevPAR) model and some traditional hotels still do. But other more innovative companies have recently adopted a Gross Operating Profit per Available Room (GOPPAR) model which measures performance across all hotel revenue streams. This metric considers revenue from all the profit centers in a hotel - restaurants, bars, spas, conference/groups, golf courses, gaming, etc. - in order to determine the real gross operating profit per room. By fully understanding and appreciating the profit margins in all these areas, as well as knowing the demand for each one during peak or slow periods, the revenue manager can forecast and price rooms more accurately, effectively and profitably. In addition, this information can be shared with general managers, sales managers, controllers, and owners so that they are all aware of and involved in forecasting and pricing strategies. One consequence of a revenue manager's increasing value in hotel operations is a current shortage of talent in this field. Some hotels are being forced to co-source or out-source this specialized function and in the meantime, some university administrators are looking more closely at developing a revenue management curriculum as a strategy for helping the hospitality industry close this gap. The October issue of the Hotel Business Review will address these significant developments and document how some leading hotels are executing their revenue management strategies.



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