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Brillata is an innovative solution for hotel supervisors, housekeeping and maintenance staff. Hoteliers are embracing technologies in all aspects of hotel operations. However, most hoteliers must prioritize which technologies to adopt to maximize efficiency within their budget. In my view, new hotel software should pay for itself; either in reduced expenses and increased top line…
Occasionally a hotel owner will say to me that they rarely even look at the STR, (STR, ie, Smith Travel Research) report which shows ADR, Occupancy, and RevPAR data for the last week to 4 weeks, and the monthly report which goes back for 12 months at least. Also useful are the franchise ranking report,…
The quality of the profit and loss statements, and quality of the record keeping in general are an asset whenever you decide to exit a hotel investment. First of all, it should go without saying that only the revenue that is shown on the statements is used in any valuation of the hotel. The old…
Accounting should be able to provide a hotel owner reliable insight into the operations and financial well-being of their business. Insightful reports must be available without delay all the time to all key personnel without the owner or others waiting for their accountant to get around to creating the reports. To operate your hospitality business…
As a hotel broker, one point of contention I see in many deals is the arrival of the franchise property improvement plan, a.k.a. the PIP. Hotel franchise companies often take advantage of the license transfer to require more extensive renovations than is required of the seller to continue with the flag. Franchise companies know that…
Hotel values are driven by room revenue and net income. So whether you are considering selling or refinancing now or later, the more revenue your hotel generates, gross and net, the greater it’s value and the greater your exit profit. Last month Choice Hotels became the latest Franchisor to join the so called ‘Direct Booking…