New Blog – Sept. 26

September 27, 2018

YOUR INVITATION TO ACCESS OUR CROWN JEWELS

Welcome to our blog! We’ll break down industry data, offer profitability tips and share expert advice to benefit hotel owners and operators alike.

Our third Crown Jewel is all about Improving Operational Performance which involves three steps – study, streamline and focus. To get the most out of your hotel’s operational performance, you have to study your current operations. Be intentional about rooting out any and all challenge areas, inefficiencies, and guest pain points. After identifying those key areas to streamline operations and improve efficiencies, next you must develop tactical objectives and update or create new processes. Finally, it’s time to focus! Focus your efforts on the top three tactical objectives that will deliver the most significant cost savings. At this point, you want to turn to your team to solicit feedback. Getting them involved in the process will lead to buy-in which is critical for building morale and improving the likelihood of successful execution resulting in real cost savings … and improved financial performance!

Click on the video below for more invaluable tips to help you boost hotel profitability using these three steps:

The next time we meet, we’ll take a look at driving Gross Operator Profits (GOP). See you then!


US Hotel Data Update

A natural disaster has taken a toll on industry data in the last week. Negative year-over-year results in the three key performance areas were reported during the week of 9-15 September. In comparison to 2017, the industry recorded the following:

  •  Occupancy:  -3.3% to 69.8%
  • Average daily rate (ADR):  -0.3% to US$131.03
  • Revenue per available room (RevPAR): -3.7% to US$91.47

The data dips are noted in several major markets impacted by Hurricane Florence. Additionally, an earlier Rosh Hashanah may have contributed to the fluctuations.
*Data source: STR

Industry News
Hilton Expands All-Inclusive Reach

The world’s second-largest hotel company is building up its all-inclusive property portfolio by forming a new, strategic alliance. Hilton Worldwide Holdings Inc. has inked a deal with Playa Hotels & Resorts NV, a real estate investment trust that specializes in all-inclusive resorts.

Playa will convert two Caribbean hotels into Hiltons, and the companies will team up on an additional eight resorts by 2025, according to a statement. Hilton currently has 11 similar properties in its portfolio. As Hilton expands its all-inclusive portfolio, Marriott and other brands are sure to follow. CLICK HERE for more on this transaction.

 


Why Hire Crown Hospitality Consulting?

We leverage years of diverse industry knowledge and attention to detail to ensure you are able to focus on your core business. When you engage Crown Hospitality, it’s our committment to our clients to…

  • Protect your time
  • Minimize risk
  • Maximize return on investment
  • Increase hotel profitability

As your trusted advisor, we are the eyes and ears of your business, ensuring that every aspect of each project is executed with excellence. Let us help you build your kingdom!

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