brian wiegand

If you are a hotel data person at heart, check out this webinar about USALI 12th Edition changes. "This is how the sausage gets made", so to speak... https://lnkd.in/gkky2nB3

31

The 10-year plan for Orlando Tourism Had the chance to go to the annual Visit Orlando luncheon this past with a focus on the future. As a DMO (Destination Marketing Organization). VO is essentially tasked with driving visitation to Central Florida funded through tax dollars that tourists pay. While nothing groundbreaking was announced, attendees did have an opportunity to provide input towards the development of a 10-year tourism plan for the region. As a fan of theme parks, I was interested to hear what the hot topics would be. Here are two key takeaways that resonated with me: 1. Iconic Events: The Power of Tentpole Attractions One section of the discussion emphasized the creation of "tentpole attractions" within the city to boost off-season visitation. This strategy echoes successful events like Halloween Horror Nights at Universal and  The Food & Wine Festivals at Disney, which have become major draws in themselves.  Imagine future events that capture the imagination and encourage visitors to plan trips specifically around these experiences, extending Orlando's tourist season beyond peak periods. 2. Building a Talented Workforce: A Shared Challenge Attracting and retaining top talent remains a critical hurdle, further complicated by the ongoing housing affordability issue. If Orlando is going to grow, we need to have a workforce that can support this growth. We’re nowhere near AI being able to clean a hotel room. Theme parks, aware of this challenge, have activated some programs to help with staffing needs. This includes actively investing in college programs and international recruitment initiatives to get people on-site for a committed period of time. These efforts ensure a (somewhat) reliable and passionate workforce that can provide the labor hours, especially during peak seasons. What do you think? Are there bigger issues facing Orlando and other theme park-driven destinations? ### 🎢 If you found this interesting and want to learn more about the business of theme parks, give me a follow Tay Mauro #themeparks #orlando

31

1 Comment

Despite initial concerns, hoteliers are seeing the promising start of new demand after Miami Beach "broke up" with spring breakers. In this HNN article, Bryan Wroten examines how hoteliers coped with this decision, what their adapting strategies looked like, and how they'll plan for 2025 . More here: https://bit.ly/3VTXLlE

37

2 Comments

Group travel is a key component of an effective sales strategy for hoteliers, but responding to a request for proposal (RFP) can be time consuming, resource intensive, and sometimes fruitless. This doesn’t have to be the case. By taking stock of your strengths, you can identify which opportunities to pursue and create open channels of communication with planners to maximize bookings and win more market share. John Russell, Product Director, Sales & Event Management, Hospitality, Amadeus explains how to take the friction out of group RFPs in this article for Premier Hospitality Magazine: https://lnkd.in/ehQ-mqe9

8

Group travel is a key component of an effective sales strategy for hoteliers, but responding to a request for proposal (RFP) can be time consuming, resource intensive, and sometimes fruitless. This doesn’t have to be the case. By taking stock of your strengths, you can identify which opportunities to pursue and create open channels of communication with planners to maximize bookings and win more market share. John Russell, Product Director, Sales & Event Management, Hospitality, Amadeus explains how to take the friction out of group RFPs in this article for Premier Hospitality Magazine: https://lnkd.in/gxUuRXEG

3

Are you tasked with finding the perfect hotel/venue for your next conference or event? Let me help you! As a meeting planning expert, I specialize in finding venues that exceed expectations. Message me for more information! #SharonGatesBooksMeetings #MeetingProfs #EventProfs

57

4 Comments

Another successful course on the books. Here is one of the comments from one of my students: "The course was very helpful and engaging. Tim is a wonderful instructor with his valuable knowledge and experience." The next class starts May 7, and we still have some slots available. Please let me know if you have questions. #hsmai #revenueoptimization #revenuemanagement #CRME #commercialstrategy

14

Take a look at Steven Shapiro's article in HOTELS magazine on the diverse career paths within the hospitality industry, emphasizing the importance of education in preparing students for success. The evolving nature of hospitality curricula, student interests and industry demands, and the significance of soft skills coupled with technical knowledge... https://lnkd.in/eqqATmWG

11

In a #podcast interview, labor attorney Andria Ryan explains the recent changes to the overtime exemption threshold and banning of non-competes, and why hotel operators need to make plans now. https://bit.ly/3JPie3A #legal #laborlaws #hoteloperations #hospitalitynews

3

In a #podcast interview, labor attorney Andria Ryan explains the recent changes to the overtime exemption threshold and banning of non-competes, and why hotel operators need to make plans now. https://bit.ly/3JPie3A #legal #laborlaws #hoteloperations #hospitalitynews

2

Real talk vs. Fake talk. Miriam Ramsey and I join Scott Fasano, Adam Norko & Conrad O'Connell on The Art of Hospitality podcast to discuss: - Short-term perspective is challenging with lower nights booked and lower average daily rates - Long-term prospects of the industry are strong b/c travelers value experience and vacation rentals offer great experiences - People/companies raised expenses when times were good and now cuts are difficult - Social media influencers promoted how easy the industry is, but now it’s hard. (we name people like Wil Slickers) - Short term, we need real talk from people with experience - Vacation rental management is hard - What happens if/when last minute bookings don’t come - Costs are up across the board - Get lean and set expectations - Low commission and high overhead doesn’t work - Many in the industry are facing a downturn that they’ve never had to face before - We need to hear from professional managers that have done this before - There is a large portion of the industry that doesn’t make money, or worse, is losing money - Unit count means nothing - V-Trips has trimmed down 1,000 units - Do a P&L for all units - Get rid of bad units - Profit matters - Value of “old guard” vs. “new voices” - Happy talk vs. real talk - People are in very difficult situations - We should be cutting travel expenses - Time for financial discipline - Value of learning from the best - Challenges ahead for conferences - Challenges for vendors - How does Steve grade V-Trips - Value of local brands - Value of constructive criticism - Value of change & the opportunities that arise - Value of apprehension and attention to detail Click here now for the podcast: https://lnkd.in/en24ew-S

80

28 Comments

The just in! U.S. hotel performance is now being led by weekdays. After some fluctuations due to events like the eclipse and holidays, normal patterns returned with solid weekday performance and strong group demand. https://lnkd.in/e6iV8gWv #TheHardyGroup #HARDY #HotelPerformance #Hotel #Hospitality #Resort #CostarNews #Data #Analytics #Analysis

3

In honor of National Haiku Day, here’s one about Kalibri Labs’ HummingbirdPXM commercial strategy platform. Data streams align Guiding stars that brightly shine Profit peaks we climb Here’s to better bottom lines 😊 #commercialstrategy #hospitality

3

1 Comment

Cloud-based technology is important for automating and streamlining hotel processes, from working with the market to keeping your in-house systems updated. "Over 80% of businesses using an integrated cloud platform experienced higher customer satisfaction, employee productivity, and sales." These types of upgrades are valuable, once you get through the learning curve and into their benefits and capabilities. #HotelManagement #Hospitality

4

Simplify the hotel booking process: Interactive Pricing Filters at Your Fingertips We know that budget is a top priority for travelers when booking a stay. Our GX design methodology includes an intuitive feature that allows potential guests to toggle prices up and down, finding the perfect room within their budget at a glance. This feature ensures that users don't just see what's available; they see what's affordable for them, all in real-time and directly connected to the booking engine.

10

Hospitality is booming, but it's not always smooth sailing. Get the inside track on the hot topics facing the hotel industry right now – think rising costs, labor shortages, and more. Charles Oswald, CEO of Aperture Hotels, lays it all out for Ted Kelly on the latest episode of Ted's Hospitality Minute. You do not want to miss this out https://lnkd.in/eX45JN5C! #hospitalitymanagement #hoteltrends #industrynews

24

𝐆𝐨𝐨𝐠𝐥𝐞 𝐇𝐨𝐭𝐞𝐥 𝐚𝐧𝐝 𝐭𝐡𝐞 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 𝐀𝐜𝐭 Have you noticed some recent changes on the 𝐆𝐨𝐨𝐠𝐥𝐞 𝐇𝐨𝐭𝐞𝐥 section? 👀 👉 𝑺𝒘𝒊𝒑𝒆 𝒕𝒉𝒆 𝒄𝒂𝒓𝒐𝒖𝒔𝒆𝒍 𝒕𝒐 𝒅𝒊𝒔𝒄𝒐𝒗𝒆𝒓 𝒎𝒐𝒓𝒆 and dive into our latest article where we break down the most significant updates and share our expert insights and tips on how to navigate these changes effectively: https://lnkd.in/eZ8FVguA

35

2 Comments

NEWMARK WEEKLY LODGING INDUSTRY RECAP April 7 thru 13 Over the past week we saw how hotel transactions and trends in the broader capital markets are closely intertwined, significantly impacting investment strategies in the hotel industry. The latest CPI report showed unexpected high inflation, which pushed Treasury yields to their highest points this year. This shift is making hotel acquisitions more expensive due to rising borrowing costs. Despite these challenges, the CMBS market is still active, highlighted by Freddie Mac’s recent deal, indicating that there's still interest in hotel-backed securities despite economic headwinds. Additionally, the overall lodging sector has seen dips, with major hotel chains experiencing fluctuating stock values influenced by the broader economic climate and specific financial indicators like the slowdown in RevPAR growth among major C-Corps. Focusing on specific transactions helps to illustrate the dynamic nature of the market amidst these economic challenges. For example, the sale of the Hilton Back Bay in Boston for $171 million highlights ongoing interest in premium real estate, despite economic hurdles. Also, changes in hotel management, such as those seen at DiamondRock Hospitality, suggest strategic realignments within companies to better navigate the current economic conditions. These shifts are crucial as they indicate broader trends of adaptation and resilience within the hospitality industry, important for stakeholders like investment bankers and hotel managers to keep an eye on. Moreover, developments in the hotel sector extend beyond transactions to include expansions and renovations, showing a long-term confidence in the market’s recovery. Initiatives like the proposed convention hotel in Pittsburgh and major upgrades at Camino Real’s properties in Mexico exemplify this optimism. These developments, along with strategic acquisitions such as the purchase of the Courtyard Providence Downtown, reflect a thoughtful approach to growth and investment in the sector. Download our Top 104 Hotel Market Insights Reports: https://lnkd.in/gP3tpHVN Newmark Valuation & Advisory Newmark

3