The popularity of staycations has grown manifolds in the last year. However, a prevalent debate in the hospitality industry is whether this is a passing fad or a long-term trend. Read on to learn more.
This article briefly highlights some of the measures that can help Bhopal, the capital city of the Indian state of Madhya Pradesh, become a popular leisure tourism destination.
Due to travel restrictions, Staycations flourished as one of the few remaining sources of leisure demand. We interviewed hospitality experts and conducted a survey to gather data on consumers’ behavior and hoteliers’ response with regards to Staycations in Canada and beyond. Through this article, we share innovative strategies hoteliers can use to develop competing Staycation packages aiming to attract one of the identified Staycations subsegments: Dreamers, Explorers and Business Staycationers.
As we observe World Autism Awareness Day, we want to highlight what our industry can do to help support individuals with autism. To better understand the diversity challenges, growing diversity programs, and opportunities to be more inclusive within the hospitality industry, we interviewed the founders of Autism Double-Checked, an organization that provides autism-specific training to hotel staff to create more autism-friendly travel experiences.
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.
Luxury boutique hotels and resorts, which is still at a nascent stage in India, is expected to become an increasingly preferred choice in the post-COVID era. Read on to know more.
Strictly implementing SOPs with 100% accuracy and training our associates to live by those SOPs is the need of the hour. ‘Safety’ should be built into our hospitality DNA as that alone can help us rebuild trust and customer confidence.
The COVID-19 pandemic and the related restrictions on travel, business activity, and individual movement are having an unprecedented impact on our industry and economy. Hotel owners, operators, lenders, and investors are all facing greater challenges than ever anticipated, as they grapple with plummeting occupancy, average rate (ADR), and RevPAR and seek solutions to mitigate the impact on EBITDA.
During the execution of numerous transactions during 2019, the HVS Brokerage & Advisory team has fielded a myriad of questions from buyer groups about the impact of needed PIPs on asset prices. We are seeing increased variability in PIPs. Thus, a buyer group’s estimate is of paramount importance.
Each year, HVS researches and compiles development costs from our database of actual hotel construction budgets. This source now provides the basis for our illustrated total development costs per room/per product type.