The global travel market is one of the fastest and dynamic growth businesses on the planet. Not only are business travelers jetting around the globe attending to, and managing the globalization of commerce, but leisure travel is just as robust as the so-called 'tourists' look for more adventure and uniqueness in their limited free time. How has the travel and hospitality industry adjusted to meet this insatiable demand for both business and leisure travel? READ MORE

The retail and commercial space within a hotel is one of its most important components. In some ways, it helps define the image of the property; a chic spa or hot new restaurant can generate publicity and excitement that brands the hotel in a very positive way. It also provides important services to hotel guests and having the right mix of retailers, restaurants, and other amenities contributes to the experience people have when they stay there. And of course, it provides a significant revenue stream. Most managers are very conscious of maintaining the correct balance for their property. But what are the best techniques for achieving that? READ MORE

New rules governing eligibility for overtime pay for various types of employees have significant implications for the hotel industry. Designed to clarify and update what were perceived to be ambiguous and sometimes confusing regulations, the U.S. Department of Labor has redefined what constitutes exempt and non-exempt employees. Although the new regulations do not alter the fundamental rationale behind the Fair Labor Standards Act's overtime rules - that employees who work over 40 hours per week must receive overtime pay unless they are otherwise exempt - these new developments are extremely important for hotels, especially those whose workforces are not governed by collective bargaining agreements. READ MORE

Under most circumstances, hotel owners want to maximize the value of their properties. However, doing what appears to be the opposite - arguing that your property is worth less - can actually have a positive impact on your bottom line. Having a lower valuation is desirable for the purposes of real estate tax assessment. The lower the valuation, the lower the property taxes. At a time when the economy is weak and the hospitality industry is suffering, any cost-saving can be helpful and a reduction in property taxes can sometimes provide a good financial cushion. READ MORE

The economy has caused serious problems for numerous hotel properties across the country, as it has for every segment of the travel and hospitality industries. But challenges for some can mean opportunities for others. With so many properties in distressed financial condition, there are buyers in the marketplace, actively seeking to identify opportunities. There are individuals and companies with the resources to buy and hold onto a promising hotel, and ride out the tough economy. READ MORE