Colorado Springs’ hotel industry has been in business for more than a century, with a wide spectrum of entities driving demand. The market wasn’t hard hit by the recent recession, and major events this summer should bode well for local hotels.
The hotel industry has seen great benefits from the increase in hotel education however, the industry is struggling to recruit and retain these educated professionals in traditional operational roles.
This article is the third of a three-part series that explores the rationale, methodology and results related to RevPAR-adjusted budgets. Such budgets are proposed as a tool to measure management’s performance that is superior to unadjusted budgets.
Steve Rushmore's May 2011 article for Lodging Hospitality magazine.
This article highlights the impact that the pro-democracy uprisings in countries such as Tunisia, Egypt and Libya have had on the region’s hotels, including dramatic changes in values.
Budgets are inappropriate to use as benchmarks for measuring a manager’s performance. One of the best ways to make budgets relevant is to adjust them using actual RevPAR indexes as the year progresses.
HVS, in conjunction with NYU’s Tisch Center for Hospitality, Tourism, and Sports Management, presents the 2011 Manhattan Hotel Market Overview, which features the NYU Survey and examines the market’s strong recovery from the recent recession.
Steve Rushmore presents his review of rate and recovery, transactions, turnaround and timing at the 33rd Annual New York University International Hospitality Industry Investment Conference.
Steve Rushmore's April 2011 article for Lodging Hospitality magazine.
Operating budgets are planning tools that should not be used as benchmarks to measure management’s performance. Adjusting budgets for the market’s RevPAR performance makes them far more relevant. This article explains how to make these adjustments.