While wage negotiations are always at the center of hiring, recruitment and retention, hotel leaders said young employees are also being more direct with their expectations of a career trajectory in the industry.
U.S. hotel performance declined from the previous week and showed lower comparisons year over year, according to CoStar’s latest data through 5 August.
Each of Europe’s key hotel markets saw year-over-year improvement and their highest 2023 levels in gross operating profit per available room (GOPPAR), according to CoStar’s June 2023 P&L data release.
U.S. hotel gross operating profit per available room (GOPPAR) fell year over year for a second consecutive month, according to CoStar’s June 2023 P&L data release.
The midyear 2023 California hotel development survey from Atlas Hospitality Group indicates a slower pace of new openings, which is expected to continue as fewer hotel projects enter the construction phase.
Executives with Google, Meta and Amazon agreed how travelers book online is shifting, particularly as Gen Z grows more prevalent, and they shared insights during the 2023 Revenue Optimization Conference on how to make the most of that change.
As hotel companies continue to work to better bridge the gaps across their commercial teams, which include revenue management, sales and marketing, leaders must do a better job giving employees diverse experiences.
United Kingdom hotel loan agreements are undergoing summer stress testing as debt maturities peak.
In a review of hotel transactions for the first six months of the year, hotel industry experts say that the cost of capital and sellers holding out for a higher price while would-be buyers seek a better deal are slowing the pace, but there's potential for a turnaround.
Tata Crocombe, who owns and operates resorts in the South Pacific, says technologies such as ChatGPT offer new possibilities for operational efficiency.