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The Integral Link Between Hotels, Real Estate and Proper Airbnb Regulation

Airbnb is a game changer for the hotel industry with many citing it as having dire effects on a property’s long-term revenues and overall asset value. While government agencies have been slow to react to the appeals of hospitality lobbyist groups, they have acted far less sluggish with regard to the impact of these alternate lodging providers on the housing market. As a legislative body’s primary mandate is to get re-elected, the last thing any regulatory agency would want to do is (excuse the expression) piss-off its constituents – that is, the voters who might be negatively affected by unregulated Airbnb lodging usage. The city of San Francisco offers a clear example where rampant Airbnb hosting combined with a huge demand for short-term leases in and around Silicon Valley has caused rapid inflation of both average monthly rent and average house price. Normally increases in these two metrics would be …

lmaadminThe Integral Link Between Hotels, Real Estate and Proper Airbnb Regulation
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Conspicuous Conservation for Hotels

If you’ve ever taken a course in economics, you’ve likely heard the term ‘conspicuous consumption’ tossed around to describe the purchasing of goods or services as a means of publicly showing off one’s power and increasing one’s social status. Yellow Humvees, gaudy jewelry and bottle service at nightclubs are first to mind as is every other drug dealer cliché you can conjure. Now, however, this term has been retrofitted to account for the 21st century trend of people wanting to publicly signal their alleged altruism through the purchase of green or sustainable products. Although it’s a relatively recent phenomenon, conspicuous conservation is definitely one that you should embrace. While there are some lucrative marketing angles, the bottom line is that engaging in activities that are environmentally friendly will ultimately help our planet and potentially save you quite a bit of cash in the process. Even though your back-of-house upgrades are …

lmaadminConspicuous Conservation for Hotels
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Understanding Millennial and Baby Boomer Travelers: Seven things you didn’t know and how to cater to both demographics

Rarely a day will go by where the phrase ‘millennial traveler’ is not mentioned in some sort of industry bulletin. Being a baby boomer myself, it makes me smile every time a headline proclaims that radical changes to the way we operate our hotels are necessary in order to accommodate this new wave of guests with increasing spending power. To start, put your mind at ease; there are very few changes required to accommodate both the millennial as well as the aging boomer. You can successfully deliver an outstanding guest experience for everyone, as long as you recognize the critical steps that contribute to guest satisfaction. Some Definitions The Baby Boomer generation is loosely defined as those born after World War II, from 1946 to 1964, and by rough figures representing about 20% of the population. They have also been dubbed the ‘me’ generation, reflecting their financial success and consumer-spending …

lmaadminUnderstanding Millennial and Baby Boomer Travelers: Seven things you didn’t know and how to cater to both demographics
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Limited Service Does Not Mean Limiting Your Imagination

Long-term capital appreciation and on-going income, coupled with perceptive timing and commitment to success will ultimately make for a highly profitable return on investment. This is why hotel investors purchase limited service properties. But it does not mean that you have to limit everything that isn’t immediately suggested in this formula. One of the secrets to limited service property success comes from top-down brand directives. Expertly developed, franchise guidebooks detail everything you need to know about the running of your establishment and provide an operations manual for your team to follow. Sounds great, right? But are these operating procedures enough? Location aside, why do some properties perform far better than others? One has to realize that the brand standards are only the beginning. A property rarely dominates a coveted location on its own for a long time before the competition comes sweeping in. Just when you seem to have it …

lmaadminLimited Service Does Not Mean Limiting Your Imagination
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In Search of Hotel Excellence: Fogo Island Inn

If you want to experience Canada – I mean, really, truly, authentically experience the heart of our great ‘northern’ nation– Fogo Island Inn is one of the few places you must visit. Opened three years ago along the windswept coast of Newfoundland, this 29-room independent property already has more than its share of accolades, all driven by its improbable architecture, fantastic F&B, remarkable interior design, and prearranged activities that immerse you with the barren landscape and its people. Looking at the photo of this contemporary box of a hotel sitting on stilts over jagged rocks, you are probably asking yourself: Why? How was this even funded? The story of Fogo begins with Zita Cobb, a local who made her fortune in the tech industry then decided to reinvest it back into her hometown. Warm and friendly, the community of some 2,607 fishermen and related occupations has for centuries eked a …

lmaadminIn Search of Hotel Excellence: Fogo Island Inn
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Questions To Ask Your Marketing Team

No matter the time of year or how well your occupancy figures look for the quarter at hand, the prep and planning for next year’s marketing budget is never too far away. Undoubtedly, it will include the usual spattering of KPIs established at the start of the fiscal period, which will be scrutinized and massaged to death until all senior executives are happy. This process makes me yawn. Not that it doesn’t work, but it can take up too much time which would be better allocated elsewhere. How about a different approach? Here are six questions that I am encouraging you – as a general manager, owner or other senior team manager – to ask your sales and marketing team right away and in advance of the plan’s development for next year. These questions are not necessarily the easiest and will probably require some data analysis. But, the work done …

lmaadminQuestions To Ask Your Marketing Team
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The Three Axioms Of B2B And B2C Communications

For about five years ago, I’ve encouraged readers to examine their B2B and B2C communications from a Marshall McLuhan-esque standpoint – that is, how the medium impacts the message itself. To help organize my thoughts on the matter, I proposed a heirarchial flowchart outlining 13 different forms of modern communications based on the level of importance conveyed by each. My motivation for tackling this subject was the rise of email and mobile communications, both of which have had sweeping influences on how we behave and socialize. With each passing month, mobile becomes more significant as a channel, thus necessitating a reexamination of the communications hierarchy I first drew up half a decade ago. This updated ranking is based may not be exactly the same for everyone, although the broad strokes will ring true. What remains unchanged, though, is that the more intimate the interaction, the greater the influence. Any opportunity …

lmaadminThe Three Axioms Of B2B And B2C Communications
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Housekeeping or Loyalty Points, You Decide

Traveling for work puts me up close and personal with a wide variety of hotels, but even though I love dabbling in the luxury segment, the wallet just isn’t fat enough to make that a year-round thing. Instead, I opt for business-oriented properties, often downtown or near a convention center, and shrewdly designed for the harried guest. As you all know, this is a humungous category of hotels worldwide, and any new features that help optimize revenue for this market are often rapidly gormandized across all major brands. I could address the omnipresent issue here of whether such widespread adoptions are homogenizing product to the point of making every brand look and feel the same way. But that’s too much for a terse morning read. Instead, let’s focus on the recent trend of giving guests the option of trading in daily housekeeping service for a paltry amount of loyalty points …

lmaadminHousekeeping or Loyalty Points, You Decide
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Gray is the New Green Part 17 – The Starving Boomer

I’m borrowing a term from the art world where the ‘starving artist’ is a burgeoning creative mind living hand-to-mouth, toiling away at his or her work while also probably taking on a part-time gig and waiting for that golden ticket of making a sale. Adapting the term to describe a new trend within the baby boomer generation is a bit of a stretch as they are hardly starving per se. But it does illustrate the point in that many boomers who have entered a second career or a state of semi-retirement, after departing from the breadwinning days in their former full-time jobs, are struggling to find consistent work. In the old days – and by ‘old’, I mean 20th century – the line between employment and retirement had not a single shade of gray. You opt to retire (or are forced out at age 65) and you are done working …

lmaadminGray is the New Green Part 17 – The Starving Boomer
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Fish on Every Menu

One fish, two fish, red fish, menu fish. As health eating takes the world by storm, many people are adopting strict or esoteric diets that are becoming commonplace in any urban area. Vegetarians, vegans, paleo, raw diet – all must be appeased. As a staunch meat-lover, I can’t fully grasp those who stave off cow and lamb entirely. But if I had to, I could give up red meat and poultry, but never fish. There are so many regional varieties and flavors of fish that I simply couldn’t go without getting my krill fill each and every week. It’s a fantastic protein compromise on the spectrum of striploin to tempeh. Smack full of omega-3 fatty acids, it’s also rather healthy (barring any heavy metal buildup). While pescatarians – those whose diets allow them to eat fish on top of what’s inscribed by vegetarianism – are a still budding market segment, …

lmaadminFish on Every Menu