These days, a lot goes into choosing the perfect hotel. Hotel choice no longer depends solely on the location, price, and amenities; it depends on experience. Customers have become more interested in experiential features instead of whether or not the hotel has a five-star review. As the phrase goes, many “do it for the gram.” When looking to book their stay, the Instagram generation is interested in things that are eye-catching and worthy of sharing with their followers. Just searching the hashtag “wanderlust” reveals millions of images of different travel experiences from around the world. READ MORE

While social media has become a mainstream marketing channel, there are many variables that hoteliers are not taking advantage of to increase their revenue. Unlike other mainstream marketing avenues, social media is not static, as platforms continuously find ways to increase engagement with both users and advertisers. As social platforms have realized their massive marketing opportunities within their user base, they have increasingly capitalized on their clearly defined users by providing advertisers access to them. Today, the popularity of social channels has created a “pay-to-play” model that leaves many business owners and managers perplexed as to which channels to focus on, and the right budget to allocate in order to maximize return on investment (ROI). READ MORE

Are you approaching customer feedback reactively, trying to patch up holes in order to prevent damage to your reputation? Or, are you using it as a source of information to help you become more profitable? If the latter, then you need to know and understand the different channels for feedback, and select and combine them according to your needs. The tools to measure customer experience and satisfaction are key success drivers for your business, but in many cases, these tools are not used to their full potential. Service-driven businesses must optimize their way of listening to their customers in order to receive timely and objective feedback. This helps toward improving customer experience and, in turn, your business' profitability. READ MORE

Regardless of property type, tax assessment valuation would appear simple enough. A generally accepted definition of market value is: The probable price, as of a specified date, in cash, or in terms equivalent to cash, or in other precisely revealed terms, for which the specified property rights should sell after reasonable exposure in a competitive market under all conditions requisite to a fair sale, with the buyer and seller each acting prudently, knowledgeably, and for self-interest, and assuming that neither is under undue duress. READ MORE

It's that time of year when everyone is working hard towards their ambitious new year's resolutions. Here's one more I would like to recommend hotel owners and operators to put on their list. Join the Hotel Owners for Tomorrow (HOT) coalition to help advance sustainability for the hotel community. HOT is a no-cost initiative, bringing hotel owners, hotel brands, management companies, industry bodies, and other supporters in hotel development to build awareness and get the important discussion of sustainability started among the hotel community. READ MORE