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To achieve a FTG rating is truly a rarity and an achievement that a property should cherish. Of the roughly 700,000 hotels and resorts in the world, only 0.002% of properties attain this distinction.
Twelve months ago, our heads exploded when we tried ChatGPT. Now, AI is a workhorse for writing emails, social media posts, grant submissions, and analysing financials or customer reviews on Google. We’re all early adopters when something is so intensely useful. So what else is promising big changes for sales, cost control, and productivity? Self-service kiosks Stand in McDonald’s and notice how kiosks are part of the scenery for most customers.
Part 1: Solo, Duo, Trio Aylin and I work together in the Connectivity tribe at Mews, where our primary focus is the connectivity of our hospitality platform. This enables hoteliers to connect their crucial external systems, such as processing reservations through connections to CRS, OTAs, etc., and manage their business from a single unified platform.
Cyber risks have been around for a long time, but that doesn’t mean they’re static. Attacks are growing more sophisticated and more expensive. The average cost of a data breach in 2023 was almost $4.5 million, a figure that’s more than 15% higher than just three years prior. Statista’s market insights forecast the global cost of cybercrime will increase from $9.22T in 2024 to $13.82T in 2028.
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.
In the world of managing hotels, one tool is essential which is the occupancy report. It helps you to see how well your hotel is doing and guides you in making smart decisions, especially when there is a lot of competition. In this article, I will talk about why occupancy reports are so important, explain the important numbers in them, and share some ideas to get more guests to stay at your hotel, so you can keep being successful even as things change in the hotel industry.
David Chang during an appearance on “The Kelly Clarkson Show.” | Weiss Eubanks/NBCUniversal via Getty Images After drawing backlash, Dave Chang released a special podcast episode to explain his side of the chile crunch trademark controversy Last week, chef Dave Chang drew ire across the food community after the Guardian reported that Momofuku, the packaged goods brand that Chang spun out of his popular restaurants, had begun to enforce its trademark on the term “chile crunch” and was sending cea
By embracing these innovative promotion ideas in 2024, hotels can differentiate themselves, attract new guests, and foster loyalty among existing clientele.
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By embracing these innovative promotion ideas in 2024, hotels can differentiate themselves, attract new guests, and foster loyalty among existing clientele.
Sydney’s Surry Hills is set to welcome the White Horse back to the neighbourhood this Wednesday. The venue we were all once familiar with has undergone a major transformation led by Craig Hemmings, with the space now covering a ground-floor restaurant, upstairs public bar and garden terrace, and function rooms. “We’ve approached the White Horse with a contemporary lens, elevating the offering without the price tag,” says Hemmings.
Bad friction In simple terms, friction is when two opposing forces encounter each other. But, of course, the world isn’t simple – especially the world of hospitality – and so it’s important to make the distinction between good friction and bad friction.
Fast food fraud has seen a 45-percent increase in the last year or so, largely driven by a digital transformation sea change that has made these restaurants more vulnerable, according to data from fraud prevention company Forter. Fast food restaurants are all about convenience with the latest step in providing convenience for guests being the welcoming of digital payments and corresponding loyalty apps.
Online Travel Agencies (OTAs) serve as popular platforms for travelers seeking package deals, accommodations, flights, tours, and various travel services. They play a crucial role in distribution channels, extending reach and boosting bookings. Yet, while OTAs offer extensive reach, they come with the drawback of commission payments on each booking.
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.
David Chang during an appearance on “The Kelly Clarkson Show.” | Weiss Eubanks/NBCUniversal via Getty Images After drawing backlash, Dave Chang released a special podcast episode to explain his side of the chile crunch trademark controversy Last week, chef Dave Chang drew ire across the food community after the Guardian reported that Momofuku, the packaged goods brand that Chang spun out of his popular restaurants, had begun to enforce its trademark on the term “chile crunch” and was sending cea
Hotels anticipating and incorporating trends – from experiential travel to influencers, health & wellness, medical tourism, culinary experiences, and the business of worship – set a new standard for the ultimate guest experience, moving beyond mere accommodation to become architects of unforgettable journeys.
After expanding from Sydney to Japan back in 2014, Single O has grown to become a staple in the local landscape. Now, the coffee brand is gearing up to open the doors to a brand-new roastery and cafe in the historic area of Ryogoku, Tokyo, tomorrow. “Moving the roastery into a bigger and better space is really an opportunity to double down in support of partners and grow our offering,” says Co-Founder Dion Cohen. “We are now roasting for more than 130 wholesale partners across Japan.
What is a night audit in a hotel? A night audit is a critical process used in hotels to ensure financial accuracy, operational efficiency, regulatory compliance, and guest satisfaction. By meticulously reviewing the hotel's daily operations and transactions during off-peak hours, hotels can maintain financial integrity, mitigate risks, and optimize performance.
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.
According to the National Restaurant Association, competition in the restaurant sector is strong. In fact, 45 percent of restaurant operators expect competition to be more intense than last year. Why? A chief reason is due to caution or uncertainty exhibited by conscious consumers, with 48 percent saying they are taking the ‘wait and see’ approach and holding back on spending in 2024.
By reading this article, you will get a complete guide about the key card reader. Discover how Hotel MyKad Reader and Key Card Systems seamlessly enhance guest experiences and streamline hotel operations. Delve into the details of key card readers and explore the hidden features that make them indispensable tools in modern hotels. Join us as we reveal the secrets of Hotel MyKad Reader and Key Card Systems.
Food delivery apps have recently added new fees in response to minimum pay rules in New York City and Seattle. | Getty Images/iStockphoto As delivery discourse rages, don’t forget the middlemen: apps like UberEats, DoorDash, and Grubhub. No one is happy about the delivery apps. Not the customers, who feel gouged by an avalanche of fees. Not restaurants, who feel gut-punched by the commission apps take from them.
The more renewable energy is integrated into the hospitality industry, the better understanding industry professionals will have of the impact it makes on ROE and the environment. Innovations will continue to develop as the importance of renewable energy in hospitality is realized.
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.
Acclaimed chef Josh Niland has closed the doors of two Sydney stores. Charcoal Fish in Rose Bay and Fish Butchery’s Paddington location both ceased trading on 31 March. A spokesperson told Nine the reason for Charcoal Fish’s departure was due to “the variable seasonality of that location”, with the store’s Instagram bio reading “closed.
“Trust is the highest form of human motivation. It brings out the very best in people.” – Stephen R. Covey For hospitality employers looking for the magic ingredient for motivating their teams, they can look no further than trust. Trust improves retention, productivity, and morale. Without it, employees will quickly leave, or worse, stick around and perform poorly.
Merch might a somewhat newer term in a restaurant owner's lexicon, but having a focused merchandising effort can connect a person to a brand as well as be a great way to build awareness and put buts in seats. While someone might want to express their admiration by wearing or displaying brand merch, it's important for those brands to create products that will not simply collect dust in a corner.
What are the main front desk duties? The front desk serves is responsible for welcoming visitors, answering questions, and addressing any issues that may arise during their stay. It's essential that they always prioritize guest needs and anticipate their preferences to ensure a pleasant experience.
Dive into the transformative potential of business automation within the hospitality sector. This comprehensive overview showcases how innovative technologies can streamline operations, reduce costs, and elevate guest satisfaction. Discover the advantages of integrating systems like automated check-ins, CRM, and energy management to not only save on expenses but also to provide a seamless and personalized guest experience.
Marge in hot water. | The Simpsons Simpsons writer Cesar Mazariegos explains why the show decided to tackle minimum wage, ghost kitchens, and the gig economy “It kind of shakes my faith in billionaires,” Marge Simpsons admits to Lisa, three-beers deep after a grueling shift at Gimme Chow, a ghost kitchen and delivery app. In the latest episode of The Simpsons , “Night of the Living Wage,” Marge takes the job to pay off an unexpected medical bill (for someone else’s “emotional-support chicken”).
Implementing effective strategies to increase direct bookings is essential for maximizing revenue, enhancing guest relationships, and maintaining control over the booking process.
Martin Place has a new addition to its dining landscape with the launch of Alejandro Saravia’s Morena. The restaurant opens its doors on 15 April, and is the first Sydney location for the Farmer’s Daughters chef. While the Saravia is renowned for his hyper-local approach to cooking, Morena is an homage to his Latin American background, with dishes inspired by the cuisines of Peru, Colombia, Venezuela, Brazil, and Argentina.
The concept of a contemporary, boutique motel, either as a new build or retrofit, that commands sizably higher-than-market rates started to become a trend in the 2010s but has grown since the pandemic. Spurred on by a core psychographic of drive-to-vacation culture amongst Gen X and millennials, in the United States we are seeing multi-property brands like Bluebird and Urban Cowboy achieve success by opening exquisitely decorated lodges in sought-after rural areas near major cities.
Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.
Limited Time Offerings (LTOs) have been a staple of the restaurant industry, although their very nature is short-lived. For consumers, LTOs often bring to mind seasonal offerings that have become synonymous with specific times of the year. For restaurants, LTOs create new avenues to connect with customers and generate opportunities for chefs to expand offerings.
What is RevPAR in hotels (revenue per available room)? Your RevPAR informs you about your most profitable periods and the most in-demand rooms. It helps clarify the inventory you can expect from month to month and guides your booking numbers. It also serves as a basis for other revenue formulas. There are some things TripAdvisor can't achieve, and a balanced RevPAR is one of them.
Indian bartenders are reshaping what was once a holdover from British rule into a celebration of homegrown flavors, ingredients and a burgeoning cocktail culture.
The journey towards a guest-centric revenue management approach is multifaceted, involving a shift in strategies and a transformation in the tools and mindsets of those who implement them.
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.
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