In this economic environment, hotel owners and managers alike are doing all they can to ensure that their hotel is profitable. The structure of the Incentive Fee is a key element to aligning the interests of the hotel owner and the hotel manager. Does the Incentive Fee structure get what it is intended to incentivize? This article delves into the various ways that Incentive Fees can be calculated to incentivize the manger to be fiscally responsible and to reward the owner for taking the financial risk of developing and owning the hotel - and in turn increases the bottom line for both parties. READ MORE

Oh.. what a feeling! Whether this expression comes from Irene Cara in Flashdance, Bad Boys Blue, Van Morrison, Solomon Burke, The Everly Brothers or Crowbar, the concept of” Feelings” and how they move people in all facets of life is really something to sing about! Joy! Excitement! Anger! Anxiety! Confusion, Clarity? Feelings? What role do these and other feelings play in the world of hospitality? Better yet, what are the emotions of service that cause those feelings and what kinds of emotion does service, good, bad or indifferent, cause in guests? READ MORE

Chances are you're swimming in the reams and reams of customer feedback data you have amassed. Adding to the data set is the hospitality industry's newfound recognition of the importance of social media and online customer feedback. But, few companies have figured out how to systematically analyze information shared through social media channels, distill true guests insight, and determine the optimal actions based on this feedback. READ MORE

The traditional organized professional meeting has changed very little since its introduction more than three hundred years ago. But during the last twenty years, a new breed of meetings has begun to emerge; meeting designs that are participant-driven and participation-rich. These new meeting formats come with their own requirements, which many venues are currently poorly equipped to satisfy. Learn the key changes needed to position your venue to successfully handle these increasingly popular designs. READ MORE

Hoteliers who support their clients' SMM initiatives win more group business and build stronger relationships. Strategic Meetings Management (SMM) is the #1 trend in the meetings industry. Simply, SMM is to meetings what Disney is to theme parks. SMM leaders expect hotels to offer high quality, consistent, flawless meetings for all business units in a controlled, compliance-driven environment with personalized attention that appears seamless to attendees, driven by the undercurrent of data consolidation. Those hotels that take the initiative in understanding and collaborating with organizations on SMM are viewed as solid contenders for inclusion in the organization's program. READ MORE

Daily digital deals have exploded in popularity, and the online space once only occupied by Living Social and Groupon has gotten crowded with the arrival of Facebook Deals and Google Offers. These sites and others use collective consumer buying power to offer deep discounts to hotel guests. But given the mournful margin on these hotel flash sales, does this suggest engagement at any cost? This article looks at hotel guest expectations relative to online deals, shares forecasts for web coupon growth for 2011, and delivers digital insights from hoteliers just like you. READ MORE

With Conferences & Events revenues accounting for a significant portion of a hotels financial performance, an increasing number of companies are starting to focus on these activities to support their facility's bottom lines. However, with the rise in prominence of Conferences & Events, there are a number of key issues that savvy revenue managers should consider, including: what are the key issues needing to be addressed when trying to optimize conference & events space and more importantly how will the role of the revenue manager look in the future? READ MORE

Given the importance of generating unsighted and organic revenue in this continued challenging economy, I will identify the myths and reveal the corresponding truths in a "Top Ten" list-giving you the edge and insight you will need to intelligently approach business prospects. Based on almost twenty-five years of hands-on experience in the field of sales and lead generation, my compilation of myths and subsequent truths will be helpful as you continue to grow your respective pipelines to meet your revenue commitments. READ MORE

Whether it is the meeting planner trying to spend their corporate travel budget more effectively or the leisure guest looking for who has the best travel deals and satisfaction ratings, customers are hungry for information and it is readily available. Guests are increasingly savvy in checking not just the property website, but travel-review sites, tweets, blogs, and rating websites written by fellow consumers. The growing availability of hotel and conference center information on the internet and through travel-themed apps has in many ways empowered consumers and helped them make smarter decisions. READ MORE

As an organization that values the feedback of its members and advisory boards in developing exciting new trade show features, HSMAI is on the forefront of the conference industry in order to fuel sales, inspire marketing and optimize revenue for its partners. HSMAI President and CEO Robert Gilbert provides insights into current trends that are being observed at trade shows, including increased pressure on exhibitors to demonstrate ROI, the challenge of attracting attendees who are time impoverished and securing their attention at expo booths, as well as dealing with the increasing costs of exhibiting and producing a trade show. READ MORE

Have you ever wondered what causes a guest to leave a negative online review about one of your hotels? Are these people just trying to get revenge, or do they have another motivation? For the hotel manager that works around the clock to make guests happy, a negative online review can be disappointing. What if you could anticipate exactly what causes negative online reviews, and how this affects your reputation? As an analyst for ReviewPro, I have access to one of the world's largest databases of online customer opinion, looking over 90 million pieces of guest feedback related to hotels. Common themes have emerged that provide insight into why someone leaves a negative review online. READ MORE

It's not a good feeling to be unappreciated -- especially if you are a hotel owner struggling to keep up with fees imposed by the franchise company. Steve Belmonte, Owner and CEO of Centerstone Hotels, discusses the importance of being part of a franchise in which mutual appreciation exists between franchisors and their franchisees. The end result will be a hotel full of guests that show their appreciation via continued loyalty. Because franchising represents about 60 percent of the hospitality industry and contributes billions of dollars in annual U.S. revenues, creating a solid franchisor/franchisee relationship is critical to the overall good of hospitality and travel. READ MORE

The idea of making money with social media is like an abstract dream. Everybody talks about it but nobody is doing anything about it. Applications such as Twitter, Facebook, and LinkedIn are low cost ways of reaching people and clients. No matter where someone is they can be reached with social media. A sales team that is integrated with social media has a huge advantage over teams that rely on outdated forms of media to communicate and build relationships. READ MORE

The last thing any hotel needs are satisfied but underperforming employees. Employee satisfaction might be a byproduct of engagement, but engagement is more about employees working toward a hotel's goals, and the overall company's health. Successful hotels know that the key to an engaged workforce is a shared alignment, and a collaborative “we're in this together” culture. Engagement is defined as the unlocking of employee potential to drive. It's all about building a mutual commitment between management and employees. When done successfully, it results in the capture of discretionary effort of your staff - the “secret sauce” of business success. To look at it another way - satisfied employees care about what they get - engaged employees care about what they give. READ MORE

There are countless ways to describe the meaning of hospitality - the very foundation of our industry. When one considers taking the definition of hospitality and adding that to design as an approach for interior design, architecture and development, good things can happen. It is not just the ability to provide an aesthetic environment that appeals to visitors, quality products that stand the test of time, meeting furniture, fixtures and equipment ("FF&E") and construction budgets. Hospitality design is about the feeling the spaces evoke, the emotionality the interiors create for the guests and the comfort level the surroundings provide. READ MORE