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HVS provides thousands of articles on all aspects of hospitality, including hotel valuations, investing, lending, operations, asset management, and much more.
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The Benefits of a Small Hotel Management Company

The benefits of a large hotel management company may seem obvious. However, when choosing a management company for your hotel, consider looking beyond the obvious and evaluating whether a more personalized and strategic approach is appropriate for your hotel investment goals. This article outlines the benefits of selecting a small hotel management company for the day-to-day operation of your hotel.

Paid Publication NEHMER & HVS Design Hotel Cost Estimating Guide

Jonathan Nehmer + Associates, Inc. (nehmer) and HVS Design, leading Architecture, Interior Design, and Project Management firms specializing in the hospitality industry, are proud to announce the release of the 2023 Hotel Cost Estimating Guide. The Guide is a comprehensive listing of capital expenditure construction and FF&E costs for hotel renovations.     

Now in its fifteenth year, the 2023 Hotel Cost Estimating Guide evaluates costs in a variety of hotel tiers including Economy, Extended Stay, Midscale, Upscale, Upper Upscale, and Luxury.  Within each tier, costs are separated into the categories of Guestrooms; Guest Bathrooms; Guestroom Corridors; Public Areas; Food & Beverage Outlets; Function Space; Recreational Facilities; Infrastructure; and Common Additives. 

The 2023 Hotel Cost Estimating Guide also features estimated percentages for freight and warehousing for each tier along with contributing cost variables.  The Guide includes sample schedules for select service renovations (both prototype and custom) and for a full-service renovation.   

The following firms contributed unit cost data to the 2023 Hotel Cost Estimating Guide: Audit Logistics; Benjamin West; Humphrey Rich, Ironstar Construction, Inc., POK Construction, and Reliance Construction Company.

The Hotel Cost Estimating Guide is available as a complimentary download at www.hotelcostestimatingguide.com.

Total Spend Can Be Your Friend

Revenue managers should think like options traders. The COVID-19 pandemic and subsequent recovery taught hotel operators that average daily rates can be extremely volatile. Revenue-management strategies focused on total guest spend can help mitigate the risk involved in achieving RevPAR share through a high ADR. Management companies need to incorporate techniques and practices to evaluate all possible revenue-generating strategies.

NYU Conference Takeaways: Despite Some Challenges, The Hospitality Sector Is Still Looking Good

The tale of the looming recession was mixed, with some forecasting a shallow, short-lived recession, and others expecting a more significant impact. The overall sentiment remains a positive one, and that cash flow growth should continue. Despite high inflation, other economic markers, such as consumer goods, mortgage default rates, and low unemployment rates, look positive.

HVS Monday Musings: Ancillary Revenue Opportunities – Only Our Imagination Limits Us!

The hotel ancillary revenue revolution is expected to gain momentum in the Indian hotel industry, with more radical revenue-generating avenues gradually finding favor. Read on to know more.

Associate Retention & Motivation In Hotels: Let’s Leave Pandemic Crisis Mode and Focus on Employee Satisfaction Again

The Pandemic’s negative effect on the hospitality industry, especially its ability to hire new associates, will be long felt even as we see signs of recovery. Many have left the industry for other opportunities considered more stable. The more leadership can recognize, motivate, and reward team members, the stronger the chances are of rebuilding and retaining staff for the long term.

HVS Market Pulse: The Florida Keys Lodging Market

The COVID-19 global pandemic has significantly impacted lodging markets across the country; however, each submarket has been affected differently, which has largely depended on the supply and demand forces of that submarket. As a renowned leisure destination that has weathered economic downturns and natural/ecological disasters in the past, the Florida Keys has proven to be resilient, and this recovery should be no different.

Ergonomic Design and Lean Management in the Hospitality Industry in India

In today’s world, it is essential for hotel investors and owners to consider all elements of design and efficiency which drive revenue per square foot. Ergonomically designed hotels with operational efficiencies and lean management is the ideal mix. The key here is to achieve a balanced-functional structure and marry operational efficiency with eye catching design, without compromising on class or style in any way. Read on to know more.

HVS: COVID-19 Impact on Hotels in Asia Pacific

While the pandemic is anticipated to prolong, hotels should start to draw up plans in preparation for a recovery. In the meanwhile, it is the perfect time to relook into operational strategies, cost-saving initiatives, refurbishment, marketing distribution channels, staff training and technology upgrade.

Modular Construction: An Evolution in the Development of Modern Hotels

Though historically associated with residential and low-rise commercial buildings, modular construction has gone more upscale in recent years. What are the benefits, and what should hotel developers consider before going modular?
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