Hotel operators considering new construction, expansions or major renovation projects are now in the best economic environment in recent memory. That's good news for independent properties in need of expansion or upgrades as well as for larger brands with extensive capital needs across their portfolios. Where the traditional sources of financing were equity participants and banks (which usually required significant equity investment before they would lend money), today we are seeing considerable interest among investment banking firms, pension funds, mutual funds and other entities which have not been as active as the hotel market. But with limited vehicles for delivering the kind of returns they need, these investors are starting to look at hotels as an opportunity with great potential. READ MORE

How do you make your project a reality in the face of organized opposition? Preparation at the outset is one of the keys. Property owners can't simply design the project they think is best and expect to put their heads down and push it through. You need to do your due diligence and truly understand the issues that are likely to arise. Retain local consultants, experts, attorneys and public relations people if necessary to provide insights into the issues the community considers important and where the obstacles are likely to lie. READ MORE

With the first of America's 78 million Baby Boomers turning 60 this year, the hospitality industry is bracing themselves for the onslaught of active senior travelers, as well as a plethora of executive positions to fill, both in the hotel business, as well as in corporate America in general. In fact, nearly 8,000 boomers are turning 60 on a daily basis, according to U.S. Census Bureau statistics. What needs to take place to ensure the successful transition of our retiring Boomers and the next working generation is education. Education comes in multiple forms whether its continuing education, succession planning and training or development of formalized mentorship programs. READ MORE

Developers are increasingly finding alternative uses for their hotel properties, including condominium conversions, fractional, condo-hotels, extended stay and other alternative uses to the traditional hotel. Whether to convert a hotel to another use depends largely on market factors. In the past few years, we have seen many hotels being converted to residential condominiums. We are now starting to see conversions of commercial office space to hotels. Conversions raise a myriad of property, regulatory and zoning issues. Developers often overlook the labor and employment aspects of such transactions and conversions. Conversions of hotel properties are far more complex transactions than a traditional real estate transaction. Hotels are the most labor intensive of all commercial real estate uses. If not handled properly and in a timely fashion, labor and employment issues related to a hotel conversion can derail or significantly delay any contemplated change in the use of the hotel property. READ MORE

Over the last 10 years, many things have changed conference and convention attendees' behavior - the way they travel, and the way they conduct business from the road. Further, there is no question that the rapid advancement of technology has also had a great impact on the way a conference or convention actually operates. Let's take a trip back not too many years ago when an overhead projector was a commonplace presentation tool. Those days seem like ages ago but in reality, not too many years have passed. Now presentations are turning into a form of entertainment. Presentations today involve a wide variety of up-to-the-minute technology that every Convention Service Manager (CSM) and Meeting Planner needs to have a working knowledge of. READ MORE