By: Brian Testorf, Sean Cuthbertson, & Jonathan Jaeger, MAI, LW Hospitality Advisors As one of the earliest forms of lodging establishments, the bed and breakfast inn (B&B) has long been prevalent in American society. The Association of Lodging Professionals defines a bed and breakfast inn as “a small lodging establishment consisting of four to eleven guestrooms, with six […]
By Dr. Taylor Peyton The spread of the COVID-19 pandemic has been accelerated by congregation and travel. By “congregation,” I mean humans gathering to interact in shared, physical space, and, by “travel” I mean that customers traditionally go to a hospitality business to receive their desired service. Our industry has historically depended on both congregation and […]
By Dr. Suzanne Markham Bagnera and Emily Stewart While the hotel industry has entered into territories unknown and never seen before in our lifetime, there is no reason to panic. This present perfect storm has—both a health and financial—crisis occurring at the same time. Between the combined terror-related travel concern disruptions from 9/11 (from the historical […]
By Taylor Peyton and Shashan Bao Successful hospitality companies are masterful at caring for their guests, but do they sometimes fall short when it comes to caring for their own staff? People-related challenges to effective performance abound, particularly regarding attracting and retaining top talent. According to The Bureau of Labor Statistics, the leisure and hospitality […]
By Christopher Muller The restaurant industry is undergoing a tectonic shift as 2020 begins. Traditional segmentation is evolving from the supply side of Full Service vs. Quick Service providers to the demand side of Experience Seeking vs. Convenience Seeking consumers. Restaurant executives and the companies they lead will need to pick one path or the […]
By Minu Agarwal and Prashant Das In this article, we adopt a real estate perspective and explore the sustainability implications of hotels. First, we provide a background on sustainability, describe how it relates to the hotel sector and synthesize literature on the economic implications of sustainability. Further, we provide and explain trends on sustainability certifications, […]
By Leora Lanz and Jenna Berry With the age of technology in full swing and the use of social media at an all-time high, digital marketing is not only recommended, but also necessary. The following list of recommendations will ensure that an independent restaurant’s online marketing presence will survive and thrive in the competitive nature […]
By Priyanko Guchait Mistakes and errors come in all shapes and sizes. In 2015, a number of major hotel corporations fell victim to cyber breaches. Hyatt Hotels Corporation’s payment processing system was breached and affected 250 hotels in about 50 countries. In that same year, data security incidents also occurred in Hilton Worldwide Holdings Incorporated […]
By Lisa C. Wan and Elisa Chan The service industry accounts for more than 70% of global GDP and continues to grow. This growth of the service sector in the foreseeable future is partly fueled by the rapid development of service technology (e.g., artificial technology (AI), chatbots, and automated self-service technology) in the digital age. […]
By Tyler Titherington I am a restaurateur. I’m behind schedule. Again. Not because I am disorganized or have too much to do, more so because I have a hierarchy of tasks that are addressed based on priority. Guest needs are my first priority, staff needs are a close second and everything else last. There is […]