In the hospitality industry, a hotel’s success often hinges on the strength of its leadership team. This team’s ability to effectively manage areas like human resources, finance, revenue management, marketing, and operations can make the difference between a thriving business and one that merely exists. Gauging the efficiency through baselining the team can be challenging without a systematic approach.
Learn from a leading expert in hospitality, Adam Mogelonsky, about the latest trends in wine and how to make money from it. Tune into this podcast episode for valuable insight on turning wine sales into profit!
While room revenue management is commonplace in accommodation providers, food and beverage revenue management is infrequently discussed. In this episode, we discuss the importance of revenue managing food and beverage, including conference and banqueting, the impacts on a range of accommodation providers from limited service to resorts and how to best manage the function in the business.
Reviewing 2020 by the numbers and the Profit Matters, Global Hotel Performance Review 2020 report with David Eisen from Hotstats. Here is the hard evidence of the impacts of pandemic restrictions on hotel performance by region.
A major contributing factor to the decline in rooms profit has been the stark increase in rooms expenses, which reflects the systemic impact of OTAs on the hotel industry since the turn of the century.