The hotel industry is experiencing a severe down turn. Many hotel loans are in monetary default. A significant number of hotels are not even able to pay operating expenses, let alone service debt. What should the borrower do when the loan goes into default? This article explores strategies for dealing with lenders in this most difficult economic climate. READ MORE

We have all heard it, and quite frankly said it, 2009 was a challenging year. The good news is we have all made it to 2010, but what now? While there are many signs that the economy is beginning to stabilize and move forward, we still have not seen an influx of capital into the market. There are certainly no new build projects, and a select few renovation projects that are moving forward in the current economy. With everyone still waiting to renovate and the industry is off to a slow start to the next cycle in the process, we ask ourselves - why not renovate now? READ MORE

While official management or leadership training is the best approach for those moving up the management ladder, there are several simple ways to utilize your own experiences to your advantage. Effective managers reflect on influential managers of the past and continually strive to learn from those around them in order to modify their style or adjust their approach. In addition, soon-to-be or new managers must always take a personal interest in their team members. By understanding each employee's personality style and passions, you are able to more effectively motivate others to achieve individual and business successes. READ MORE

To make a service culture a reality everyone needs to be on board. This includes the top level executives all the way down through all of the line level associates. Not only does everyone need to buy into the concept and implementation but also play a part in the development of the concept and processes. For, in fact, we with a passion for a service culture know that the process begins with the heart of our operation, the staff members who interact with our guests on an ongoing basis. READ MORE

The year is nearly half over with no significant relief from the credit freeze brought about by the general economic collapse of 2009. Clearly, growth strategies have come to a stop - or have they? How does the lack of available development funds impact our industry and day-to-day performance in our hotels? Hopefully, everyone from CEOs to today's new hire is seeing the opportunity to create growth by refocusing on our most precious asset - the guest. Forced into "slow and steady wins the race" by the lack of new money, how can savvy hoteliers use this time to ensure long-term healthy recovery as opposed to prolonged suffering. The answer is not in cutting costs recklessly, but in refining your brand promise and consistently delivering superior guest experiences. READ MORE