No time to lose, next year is almost here. And a good plan isn’t made overnight. How far are you with your targets, budget, and plan of attack for next year? What REVPAR and GOPPAR do you need to achieve? Is your plan for next year complete, and does it describe all actions in detail? Does everyone on the team know what the objectives are and which steps to take to get there? Did you make your new hotel budget already or are you right in the middle? What methodology are you using? Are you simply adding a 3% to 5% each month based on last year’s performance? Or are you really putting your teet ..read more

Today’s traveler’s journey is more fragmented than ever. With the recent proliferation of new travel super apps, distribution Goliaths such as Google and Expedia updating their ranking algorithms at a frantic pace, and the seemingly unstoppable growth of metasearch engine traffic, building and executing an effective hotel marketing strategy can seem intimidating. Maintaining a holistic, cross-channel approach is essential and always is highly-recommended by our hotel management company. The primary goal of a robust hotel marketing plan, in fact, is to increase your brand visibility (and t ..read more

In 2022, there are many challenges faced by the hotel industry, which may quickly feel overwhelming to address. However, as a hotel management company, we have seen that with the right approach, tech stack, and process streamlining, hotels can drive their success in 2022 and beyond. Article summary: Experience & Personalization Hiring the Right Employees Continuously Changing Consumer Demands and Markets Missing the Marketing Boat Tech stack Marketing Funnel Market Research Rising operational costs Protecting Direct Business Website investment Advertising Measure & track perf ..read more

The concept of the hotel has existed for hundreds of years. Since the days of stagecoaches, overland exploration and urban growth, entrepreneurs around the world have dived into hotel ownership. They sensed the potential, economic opportunity, purpose, growing markets and prestige. In the modern hospitality industry, not too much has changed. So what are the reasons for hotel investment?Let´s take a look from our perspective as a hotel management company. In this article: Financial Reasons Economic Gain Risk vs High Returns Tax Efficiency Leveraging Cost Control Value-add Possibilitie ..read more

Do you like making decisions with sound info? Of course! So do hotel buyers, lenders, owners and sellers. Making informed decisions about potential or operational hotel investments means using accurate hotel valuation methods. Numerous methods exist, each with good and bad points. It’s the classic hotel real estate issue… how do you determine a hotel’s value without selling it? Here’s the guide to hotel valuation methods we put together from our point of view as a hotel management company. 1. Why are Hotel Valuation Methods needed? There are many stakeholders and scenarios that require a ..read more

If you would like to invest in a hotel and are doing your research, at XOTELS, a company specialised in Hotel Asset Management, we would like to share some giveaways and a list of Top 10 tips to make wise decisions when investing in a hotel. 1. Research the company Before making any financial decisions, we advise you to do thorough research. It is essential to be up-to-date about the hotel you are considering as an investment. Some businesses are not as productive and profitable as they seem at first. They might lack popularity due to incorrect marketing or positioning. To assure a good ..read more

The hospitality industry has undergone a seismic transformation since 2020. This period of change is set to continue through 2022 and 2023, with shifts in demographics and technology, and the post-pandemic transition to a new normal all playing decisive roles. As a hotel management company with clients around the world, we have seen these trends in the tourism and hospitality industry take shape and evolve. Join us in this guide to these current and future trends in hospitality, including what hotels can expect and how to proactively take action to future-proof their success. This article ..read more

The sector-wide standard for hotel accounting practises, the Uniform System of Accounts for the Lodging Industry (USALI format) has been in operation in some form or other since 1926. With our experience as a hotel management company, we can say that these best practises are essential for any hotel to create higher uniformity and consistency in the presentation and understanding of a hotel´s performance. The primary functions of this uniform system of accounts for hotels has been to provide hotel managers, owners, and other relevant stakeholders with operating statements, and to be able to r ..read more

If you´re reading this, chances are you´re looking for ways to improve your hotel´s operational performance – and you are unsure what actions to take and which tasks to prioritize. And understandably so, since creating a successful hotel business is anything but a straightforward – cookie-cutter process, and success definitely doesn’t come overnight… It requires careful planning, prioritization and dedication to achieve great results for a hotel. Running operations as a hotel management company for a diverse portfolio of independent and boutique hotels in a variety of cities and countries ..read more

Google is taking the hotel industry by storm to gain market share and grow their advertising revenues. We will take a look at how Google is penetrating the hotel distribution vertical with Google Hotel Ads, and what opportunities this gives in terms of hotel revenue management and marketing. From Hotel Finder to GHA Exactly ten years ago, Google launched what Andrew McCarthy, at the time Software Engineer for the Mountain View’s company, described as an “experimental search tool designed to help users locate and book hotels.” We’re talking, obviously, about Hotel Finder.  In that di ..read more