Extended-stay hotels began evolving in the 1970s to serve business travelers, vacationers and families seeking a home-like atmosphere. They differ from traditional hotels in terms of room types, amenities and particularly, pricing.
Prevalent incentive management fee structures partly align the interests of hotel managers with those of owners. They also arbitrarily reward managers primarily on market performance, rather than management effectiveness. A new approach is discussed.
To add value, asset managers must provide asset oversight that translates into quantifiable value to a hotel owner. This article presents three basic steps that asset managers should follow in order to provide effective asset management.
Shipping, health care, higher education, tourism, and the military are just some of the industries that diversify Charleston’s economy and help area hotels fare better than in most other markets during the recession.
In August 2002, the San Francisco office of HVS International published profiles of several hotel markets in the state of California including San Francisco (SF), Silicon Valley (SV), and Napa, among several others. This article updates and contras