There are many factors that directly influence the value of a subject business or hotel, and they can generally be classified under the following three main areas contributing to value: company environment, industry dynamics and economic conditions. These factors then form different aspects of due diligence research. In the following paragraphs, we will discuss the three areas of due diligence research in more detail. READ MORE

Effective and efficient management is one of the most crucial factors to a business' success and survival. An essential responsibility of management is to formulate and execute strategies that increase shareholder value. This is often referred to as strategic planning, which "consists of the process of developing strategies to reach a defined objective. Strategic management is used by businesses to provide overall direction for company operations and establish specific goals and duties in the areas of marketing, finance, human resources, and information technology. READ MORE

If you are not developing a project in California and think this article is irrelevant, keep reading because the California Environmental Quality Act("CEQA") is the model for future regulations in your jurisdiction. We will highlight how CEQA shapes development projects but more importantly how politicians, organized labor, and environmentalists often leverage the CEQA approval process to further their self-interests at the expense of developers and communities. READ MORE

Many cutting edge spa facilities have endeavored upon the education of their therapists in age old techniques and practices that live within the cultures that offer us an artistic palette in which to create and re-adapt ancient treatments, herbs, and tools as modalities for healing in our modern facilities. Along with the trainings, the tools, and the product lines, comes awareness, that as practitioners, these therapists do not just "perform" a therapy, treatment, or ritual, but are deeply spiritually, mentally, and physically involved with the understanding, research, and proper application of these techniques. READ MORE

While lead generation has always been an important topic, it is an issue that has really jumped onto center stage over the last couple of years. Although the growth of technology has helped in the gathering of leads, the conversion factor has not increased. So the critical question we need to explore is: how do sales professionals reliably increase their reservoir of qualified leads, and ultimately convert them to revenue? READ MORE

Keeping up with technological advancements is a constant challenge to Concierges today. How to incorporate the latest innovations into our work without losing the human touch, which is our hallmark, is also a challenge. Innovation and education are the key elements in making technology work for us and making these new products profitable for the hotel or resort's bottom line. Savvy hoteliers will find new uses for the latest inventions like Kindles and learn about the wonders of Emotiv technologies. If you haven't heard of these yet, you will find that they will be part of your vocabulary before too long. READ MORE

Has this internet access changed the need for the concierge? It is a double-edged sword. Yes, the guest has computer access, but then, so does the concierge. So, since virtually everyone now has computer access, the question becomes, "Why do guests need a Concierge?" Is it time for hotels to replace the concierge with a computer and let the guests tap out their questions onto the information highway? It is a question a lot of hotel managers are asking. Chakitan Dev, a Cornell University Hotel School professor, was recently quoted in USA Today as saying concierges are "going the way of the elevator operator" except at luxury properties. READ MORE

The demands of guests have changed over the years, as travel for both business and leisure becomes more commonplace, our visitors are exposed to different experiences, quality and insights. The internet and other new media channels have opened up the opportunity for people to share these insights so customers and potential guests have more information about hotels than simply the website, brochure and possibly a media review. 'Citizen Journalists' are the new influencers of consumer choice and they are continually looking beyond the expected for a memorable and different experience, either for business or leisure. Therefore it is more important than ever that hotels consistently exceed expectations and ensure a quality stay. READ MORE

As the financial markets, banks and businesses adjust and even reinvent themselves in response to the meltdown of 2008, there seems little doubt that corporate travel departments, conference planners and individual business travelers will take a hard look at their travel needs. There may not be any less business travel, and there could even be a greater demand, given the increasingly globalized business community and the need for organizations and institutions to put their houses in order. But, what is certain is that value for money spent will be the very highest priority in making travel decisions. There are two other new realities, however, that also affect how we meet the needs and expectations of corporate or conference guests. READ MORE

International expansion is fast becoming a priority for companies of every size. The decision to extend operations beyond domestic borders is not without challenges, but the potential payoffs are enormous. Factors include intense competition, a desire to reduce dependence on a single market and its economy, and the customer demand for a reassuring brand presence in markets they travel to. Whatever the motivation for international expansion, there are a number of key practices that all organizations should observe to successfully enter a market. READ MORE

There are two ways of dealing with a severe economic downturn. One is to withdraw - pull back and wait it out. That's the "let's hope and pray" approach. The other is to view the circumstances as opportunity - not to simply forge ahead doing what we've done in the past but the chance to find creative solutions to new realities while remaining realistic about the bottom line. READ MORE

Fail to look after your people, be they staff or customers, and you won't be around for long - whether you're selling shoes, diamond watches or burgers. In the hospitality industry duty of care, at a premium standard, for both staff and guests is what makes the difference between a good hotel and a great one. It is certainly true that the hotel business certainly has to go a step further when it comes to its 'people'. If anything, the emphasis on getting your employment and retention policies 'righter' than the rest is even more marked and important. Hotels are in a pretty unique position in that what they provide for customers in terms of experience is 100% in the hands of the team on the ground. And since you are running a 24-hour operation, it means genuine consistency of service is required throughout each guest's stay. READ MORE

Whilst we are living in unprecedented times there is no reason why the basic precepts of good marketing practice should suddenly be removed and replaced by knee-jerk reactions and cost-cutting. Indeed the opposite is true - never has it been more important to be faithful to your brand's promise. Now is the time to remember what makes marketing work effectively and, even more importantly in the current climate, efficiently. Maintaining your marketing activity and budget, whilst ensuring it is working as hard as possible, will be vital to negotiating your way through this recession and in ensuring you are in a strong position when we come out of it. READ MORE

"Happy New Year 'Sweetie'! What can I get you?" "Hey 'Honey', let me help you with that?" "Let me put you on hold, 'Doll', while I check for you." Aaaaggghhh! I don't know these people?!!! Do they think they know me well enough to forego all formalities? Why are they using such familiar terms upon our first encounter? I can actually feel the hairs on my neck stand up one by one when I hear these names. In a society that is often much less personal than it used to be, this is the other extreme...way more personal than appropriate. READ MORE

Money! Food! Shelter! And Love! The four cornerstones of life. Hotels plug into this formula when they provide food and shelter to guests in exchange for money from guests. But what about love? When "love is in the air" life seems so wonderful. When "wonderful" happens to guests, "wonderful" also happens to the hotel's bottom line. How do hotels get 'love in the air 'and why should it matter? When guests visit any hospitality venue, all their senses are potentially in play and can be turned on...or turned off. Each employee contributes to the comprehensive experience and mood of any guest, whether they are on the frontlines or behind the scenes. Guests will feel the impact of any inconsistencies along the way. Those organizations that create a consistent feeling of the desired service ambiance at every point of contact will be rewarded by guests who want more. READ MORE