In our last blog, we wrote about modern hotel history, and how it plays into the ownership structure of properties today. Now, let’s chat about who owns hotels and how the financial structure of hotels works. Privately Owned There’s still myriad hotels owned by individuals or families. In fact, 60% of hotels are owned by [...]
The hotel business is significantly more complicated than people initially think. There’s layers of nuance, understanding and history that can only be understood after some time in this business. So, for our next series of articles, we’re going to demystify some of the elements of the hotel business. For this one, we’ll start with a [...]
Managing hotel revenue has become an increasingly complex endeavor as individual skills and technology constantly advance. Long gone are the days of setting rates once a year, or even setting rates seasonally. Now, it’s about constantly adjusting rates along with the ebb and flow of demand. Complicating matters, we’re entering a post revenue management world. [...]
This week the SkyTouch team is at HITEC in Toronto. Whether for business or pleasure, events like this can be big money makers for hotels, if they have the right tools in place. According to Lodging Magazine, “large-event host cities such as Los Angeles, New York City, and Miami reaped the benefits of abundant lodging [...]
The industry’s biggest technology and trade conference on the horizon, but making it though HITEC successfully takes a lot of planning, some in the moment inspiration, and a pair of comfortable shoes. Coming to Toronto’s Metro Toronto Convention Centre June 26-29, HITEC pairs in-depth educational seminars and keynote speakers with a massive trade show. Read full article here.
GreenTree Inn, the world’s 14th largest hotel brand globally, and SkyTouch Technology, have formed an agreement to use SkyTouch Hotel OS at GreenTree Inn hotels in the U.S. Read full article here.
With the industry’s biggest technology and trade conference on the horizon, we wanted to get you set to maximize your time. That’s because making it though HITEC successfully takes a lot of planning, some in the moment inspiration, and a great pair of comfortable shoes. Coming to Toronto’s Metro Toronto Convention Centre June 26- 29, [...]
Ratings and reviews are changing everything; and independent hotels that are getting great reviews are finding that in today’s world they can be more successful than ever before. Why? According to a new UCLA study, independent hotels that become fan favorites in the online review space are making more than ever before, and these hotels [...]
Part three of our series exploring the basics of hotel operations brings us to the topic of RevPar. To fully maximize hotel performance, we use several specific terms including RevPAR, ADR and Occupancy; each of which we’ve been discussing over the last few weeks. This week we’re examining RevPAR. What is RevPAR? RevPAR is short [...]
Part two of our three part series about the critical metrics we use in the hospitality industry explores ADR. We are going back to the basics to define terms used in accurately measuring hotel performance. What is ADR? ADR stands for average daily rate. It’s a critical benchmark industry statistic that allows us to understand [...]
