This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Many operators struggle with low profit margins, and it’s easy to fall into this trap. In fact, the average restaurant profit margin just falls between 3% and 6%. By finding the right balance, you can avoid these pitfalls and ensure your business stays profitable. Let’s explore what this number means, how you can calculate it, what the average margin is for different types of restaurants, and the factors that can affect low profit margins.
Despite its high price, cilantro remains essential in Mexico City’s taquerías, such as Tacos la Chula in Colonia Escandón. Mexico City’s recent drought turned cilantro into a luxury good for the city’s taqueros. It’s unlikely to be the last time. A recent dry spell has taken a toll on Mexico City’s taco stands. Over the course of this spring, as May turned to June without any sign of the usual early-summer rains, a simple ingredient reached extravagant prices.
Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.
Whether you accept transient or group business to your hotel is more than just a revenue management question. It’s also a risk management question. How much are you willing to risk? And what is the philosophy of the hotel, the ownership, the general manager, and other stakeholders? Do they want to take a high risk and get a high return, or do they want to minimize the risk for a more reliable income?
ECHO Suites Extended Stay by Wyndham celebrated the grand opening of its first location, ECHO Suites Spartanburg in South Carolina, this Wednesday. LODGING was on hand for the ribbon-cutting and tour of the highly anticipated property, which broke ground last October as part of a development pipeline that has grown to nearly 270 ECHO Suites hotels across the United States and Canada.
Sign up to get articles personalized to your interests!
Hospitality Management Today brings together the best content for hospitality management professionals from the widest variety of industry thought leaders.
ECHO Suites Extended Stay by Wyndham celebrated the grand opening of its first location, ECHO Suites Spartanburg in South Carolina, this Wednesday. LODGING was on hand for the ribbon-cutting and tour of the highly anticipated property, which broke ground last October as part of a development pipeline that has grown to nearly 270 ECHO Suites hotels across the United States and Canada.
Water is a precious resource that is becoming more scarce. The United States Environmental Protection Agency found that water used in hospitality and food service establishments accounts for an estimated 15 percent of the total water use in commercial and institutional establishments, amounting to an average of 25,000 gallons per day. With 58 percent of consumers prioritizing sustainability when dining out, embracing sustainability within restaurant operations isn’t just a goal, but
WASHINGTON, D.C.—JLL Hotels & Hospitality Group announced that it arranged the sale and financing of Home2 Suites by Hilton North Scottsdale near Mayo Clinic, a 130-room hotel located in Scottsdale, Arizona. JLL represented the seller, and working on behalf of the new owner, JLL also procured the acquisition loan from a regional credit union. Built in December 2022, the hotel is designed to provide an extended-stay experience with amenities including a fitness center, outdoor pool, […]
Social media strategy can be a beast for marketing teams to manage. Every few months there are game-changing updates, and every day seems to bring a new trend or tool to consider, but change isn't the only constant in digital marketing. Here are seven social media truths from high-performing hotel marketing teams. 7 Social Media The post 7 Social Media Truths from High-Performing Hotel Marketing Teams appeared first on Revfine.com.
Wyndham Hotels & Resorts has announced the opening of the first ECHO Suites Extended Stay hotel in Spartanburg, South Carolina. The post ECHO Suites Extended Stay by Wyndham opens hotel in Spartanburg, US appeared first on Hotel Management Network.
Payroll compliance is a cornerstone of business success, yet for small and midsize businesses, it’s becoming increasingly challenging to navigate the ever-evolving landscape of federal, state, and local regulations. Mistakes can lead to costly penalties and operational disruptions, making it essential to adopt advanced solutions that ensure accuracy and efficiency.
Gaby Melian’s secret to the perfect nachos lies in her mango chimichurri On this episode of Give a Chef: a Steak , Argentinian chef, teacher, and author Gaby Melian turns a T-bone steak into nachos, her way. Melian starts her nachos by making a Brazilian-inspired chimichurri with mango, garlic, and cilantro. After chopping the mango and pulsating the cilantro and garlic together in a food processor, Melian brings everything together with lemon juice, olive oil, red wine vinegar, and spices.
Are you a PlayStation pro or a Nintendo novice? From consoles to PCs to phones, gaming is a multi-billion-dollar industry, with estimates valuing the worldwide market at around $350 billion.
Tock, a reservation, experiences and events platform for the hospitality industry, has partnered with Curator Hotel & Resort Collection. The collaboration will offer Curator member hotels and resorts access to Tock’s solutions suite, which will enhance its food and beverage operations and provide additional experiential amenities to its guests.
Data and cookies have long been used in advertising to understand, target, retarget, track, and report on consumers’ purchasing journey. Many of these capabilities have been enabled by third-party cookies, the technological cornerstone of personalized digital advertising.
Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System
Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Duke Heninger, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.
The Cambridge House announcement comes as Auberge reaches a point of strategic expansion in urban and European markets. The post Auberge to run Cambridge House hotel in London’s Mayfair appeared first on Hotel Management Network.
Travelodge, the UK’s first budget hotel, has launched a recruitment drive to fill over 300 jobs across its business. The company operates over 600 hotels across the UK, Ireland and Spain, with 47,000 rooms, employing more than 13,000 people. Travelodge is committed to flexible, secure employment, reflected in its ‘Find where you Belong’ company initiative, which ensures inclusivity, support and flexibility for all its colleagues to be their true self at work and belong.
Travel technology company OneAir has introduced its Hotel 2.0 platform to revolutionise the hotel booking experience by offering transparent pricing and savings. The post OneAir launches hotel booking platform ‘Hotel 2.0’ appeared first on Hotel Management Network.
Driven by a diverse and exciting ecosystem of passionate, ambitious, and often young entrepreneurs, the Food & Beverage (F&B) sector is a highly competitive environment full of immense challenges and exciting opportunities. Expert Market’s 2024 industry report, sponsored by Toast, is informed by a survey of 522 U.S. food and beverage professionals, from restaurant owners to food service managers, providing insights into the real-time challenges and opportunities within the industry.
In the not-so-distant past, hotel PMS were glorified booking engines, handling reservations and basic operations like housekeeping. Fast forward to today, and the hospitality world demands a PMS that can juggle more than just bookings. Welcome to the era of omnichannel integration, where a seamless, interconnected approach isn’t a luxury – it’s a necessity.
The hotel meeting and events business is a lucrative segment, with corporations and organizations continually seeking venues for conferences, seminars, weddings, and social gatherings.
NBA legend Michael Jordan is famous for his thrilling game style, but he didn’t get there without mastering the basics of the sport. As he famously said, “You can practice shooting eight hours a day, but if your technique is wrong, then all you become is very good at shooting the wrong way. Get the fundamentals down, and the level of everything you do will rise.
Marriott International, Inc. released its 2024 Serve 360 Report sharing the company’s global environmental, social, and governance (ESG) efforts and progress toward its 2025 Sustainability and Social Impact Goals. The report reflects data for the calendar year ended December 31, 2023. This year, the report includes an “Around The World Highlights” addendum, which shows ESG initiatives spanning each of the company’s regions—Asia Pacific excluding China; Caribbean & Latin America; Europe, Midd
Managing HR tasks like payroll, compliance, and employee data can overwhelm small businesses. That’s where a Human Capital Management (HCM) solution comes in. Our eBook, Why Every Small Business Needs an HCM Solution: A Comprehensive Guide , shows how an HCM system automates tedious processes, ensuring your business stays compliant and efficient. You’ll learn how to simplify payroll, eliminate costly errors, and empower your employees with self-service tools.
In the world of hospitality, traditional approaches often operate within rigid, pre-defined time slots (Night stays, for example) where a room was either fully occupied for a night or it wasn’t. In contrast, the modern trend of day-use hotel rooms is a much-needed upgrade on the traditional approach to cater to the dynamic demands of the modern guest.
Hilton veteran Phil Cordell is retiring after 40 years at the company, transitioning to an advisor role effective this July. The company announced that Cordell will serve as a mentor and coach, providing guidance and support to the Hilton team. Cordell began his career as a bellman with Hilton while in high school, eventually becoming general manager of the second Hampton Hotel in 1983.
Hotels have worked with third parties such as airlines, travel agents, online travel agents (OTAs) and the Global Distribution System (GDS) for decades. The dynamic landscape of hotel distribution offers numerous opportunities for hotels to maximise their market presence and profitability. NB: This is an article from Guestline {newsletter] By leveraging a diverse array of distribution channels, hotels can tap into different market segments and geographical regions, increasing visibility to attra
Payroll optimization can be one of the most time-consuming and complex factors of small business management. Yet, organizations that crack the code on streamlining employee compensation often discover innovative avenues for growth. With the right strategies in place, outsourcing and streamlining payroll processes can result in substantial time and resource savings.
Indian Hotel Company Limited’s (IHCL) premium homestay collection, amã Stays & Trails portfolio, has reached a milestone, now encompassing 203 bungalows, with an additional 97 under development. The post IHCL’s homestay brand reaches over 200 properties across India appeared first on Hotel Management Network.
Due to the Fourth of July holiday, the U.S. hotel industry reported lower performance results from the previous week and mixed comparisons year-over-year (YOY), according to CoStar’s latest data through July 6. June 30 through July 6 (percentage change from comparable week in 2023): Occupancy: 61.3% (-0.9%) ADR: $157.27 (+0.5%) RevPAR: $96.35 (-0.4%) Among the top 25 markets, New Orleans saw the highest YOY increases in each of the three key performance metrics: occupancy (+15.5% to 56.6%), ADR
WASHINGTON—Due to the Fourth of July, the U.S. hotel industry reported lower performance results from the previous week and mixed comparisons year over year, according to CoStar’s latest data through July 6, 2024. U.S. Hotel PerformanceJune 30-July 6, 2024 Percentage change from comparable week in 2023:Occupancy: 61.3 percent (down 0.9 percent)ADR: $157.27 (up 0.5 percent)RevPAR: $96.35 (down 0.4 percent) Among the Top 25 Markets, New Orleans saw the highest year-over-year increases in eac
Chase and Marriott Bonvoy have announced upgrades to the Marriott Bonvoy Bold credit card including automatic Silver Elite status. The post Marriott Bonvoy and Chase enhance Bold credit card offering appeared first on Hotel Management Network.
In today’s competitive market, pricing is more than just a number — it’s the cornerstone of profitability. The right pricing strategy ensures that you capture the true value of your offering, paving the way for sustainable growth and long-term success. Join Igli Laci, Strategic Finance Leader, in this exclusive session where he will explore how a well-crafted pricing approach balances customer perception with business objectives, creating a powerful tool for securing both competitive advantage a
We organize all of the trending information in your field so you don't have to. Join 11,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
158 
Let's personalize your content