In the early years in this industry, corporate meetings and conferences were stodgy affairs with limited options in terms of location and capability. Although sites offered room accommodations for large groups, guests had only two choices on the dinner menu. Meeting equipment consisted of an easel and a slide projector, and too frequently, there was a coffee hour that offered more varieties of sweeteners than beverages. Clearly we have come light years when it comes to the depth and variety we offer meeting planners in our meetings, but it is the choice of venues - the meeting site or destination - that has truly made a big impact on the industry. In fact, the excitement, anticipation and expectations that surround a conference are completely contingent on the venue choice. Meeting planners live by this truth. READ MORE

Cicero tells the story how in ancient Syracuse, Damocles gave back the throne to the reigning king when he realized the king had perched above him a sword hanging from a fine thread. Liquidated damages, in some instances, work like the proverbial "Sword of Damocles": hovering above the parties as a threat in case of a breach of contract. While the law in each state differs as to the use and acceptance of liquidated damages, the most widely-used basis for a generic explanation of the concept of liquidated damages comes from the Restatement of the Law: Contract Second... READ MORE

A well-managed restaurant in your hotel can be a terrific source of revenue. After all, a high quality restaurant will keep guests on your property for meals and can even draw non-guests to your hotel for dinner and/or drinks. But competing with other restaurants, lounges and bars in your area may not be as easy as you think. As great as your food, service and location may be, guests are increasingly seeking out exciting venues. Unless your hotel's restaurant is up to date with the latest design trends, you could very well be letting money walk out the door. If you are considering building or renovating your hotel restaurant, there are several ideas to consider. Read on to learn ten important tips that can help guide your project. READ MORE

Making the decision to build a spa involves a substantial capital investment in a business that has unique nuances and is very different from the hotel business. Today, spa is a requirement in most five star properties and is considered an advantage in most four and even three star properties. Ultimately, when investing capital in a project that has the ability to increase the value of the asset, taking the initial steps to define the market research ensures that the size, scope and concept always pay dividends. Learn more. READ MORE

Hospitality managers have paid much attention to the practice of both revenue management and customer loyalty over the last few years. Unfortunately, these managers often come from different departments; and as a result, they often have different goals and different financial targets. For instance, those in marketing are measured by increases in repeat purchase, word of mouth, and satisfaction, while those in revenue management are measured by REVPAR index and yield index. While in an ideal world these goals would be complimentary, this is often not the case. Rather than being a zero sum game, it is a winners take all game, where the win is the incentives that come from reaching specified targets. For example, in one of my executive education classes a sales manager of a large international hotel company told me the following story... READ MORE