In part one of this series, I used the image of tuning an engine to illustrate a really important process for hotels: Determining what business to take, and at what rate.
Tuning this engine is an ongoing challenge, especially for major city hoteliers. No matter how well things are going, there’s always a thought in the back of your head: How long will this boom last, and for how long should I lock in business?Read More
The perennial failure of New Year’s resolutions has become more of a comical tradition than a cause for disappointment. Even with all the advice on how to make our resolutions stick (be specific, measure your progress, focus on the present), we tend to throw in the towel by Valentine’s Day or even earlier!. Researchers at the University of Toronto have traced this problem to something called “false hope syndrome.” We like how it feels to make those resolutions, but we’re not really prepared to see them through.Read More
Any seasoned hotelier knows that occupancy is only one piece of the puzzle. It’s just not as simple as filling as many rooms as you can. If it were, you could simply offer rooms for a dollar and achieve 100% occupancy overnight. You might even be able to enjoy this perfect number for a month or two before going bust.Read More