A new federal tax credit program is designed to help developers of projects that are speculative and sometimes difficult to finance. It is available for a wide range of commercial projects, but hotel developers need to become more aware of it. The New Markets Tax Credit (NMTC) program could easily be the difference between a property being developed or staying on the drawing board - it can provide a financial edge that tips projects toward reality and success. Simply put, the New Markets Tax Credit program was created by Congress in December 2000 to encourage investments in communities which historically have had poor access to capital. It provides a federal tax credit equal to 39% of the investment - obviously a significant value - spread over a seven-year period. Aimed at spurring community and local business development, this tax credit can help lower interest rates and offer developers far greater financial flexibility. READ MORE

According to The Historic/Cultural Traveler, a weathered, but oft-quoted 2003 study by the Travel Industry Association of America and Smithsonian Magazine, more than half of U.S. adults (over 118 million people) include at least one art, history, humanities or heritage activity or event when they travel. You find them swaying to exotic music at cultural events, festivals and fairs. They're drawn to ethnic neighborhoods for authentic foods and imports. Clusters of them are seen looking skyward as they walk through historic districts on guided architectural tours. Others are involved in volunteer projects to both immerse themselves in a destination while helping to preserve it. They walk battlefields, often as knowledgeable about what took place as are local guides. The travel stories they retell are of the cultural treasures they saw and the remarkable local people they met. READ MORE

When hoteliers like you are asked what their primary concerns are in successfully running their businesses and increasing their profit margins, some of the answers are expected: keeping guests happy, matching the competition's prices, acquiring more market share. What is unexpected is the number who cite unfair and confusing card processing fees as something they are forced to contend with as they look to grow and maintain a successful business. Consider how much of your total revenue comes from payments made on your guests' credit and debit cards. It is very possible you could increase your profit margin on every transaction by taking a closer look at the costs incurred with processing those payments. READ MORE

When limited markets are divided among competing hotels with similar facilities and services, hoteliers find that new guests can be attracted and hotel occupancy increased by revisiting the past. They've discovered that heritage corridors create additional reasons to travel a route, be loyal to a property and stay longer. These less-traveled corridors were once the beaten path, but now have nostalgic appeal for travelers in search of a slower pace, authenticity and our nation's history. READ MORE

Cultural events have long been touted by arts organizations as benefiting hotels. Research studies by the Los Angeles County-based organizations prove the claim. In the late 1990s and again in the early 2000s, the effectiveness of major art exhibits to attract visitors to Los Angeles County were studied by the Los Angeles County Museum of Art and by The Museum of Contemporary Art as driven by LA's Cultural Tourism Department. Those studies documented not just the economic and social impact of major Vincent Van Gogh and Andy Warhol exhibitions, but proved once and for all time that strong exhibits - effectively promoted - attract out-of-town visitors, sell rooms and can be extremely lucrative to hotels. READ MORE