On average, 60% of a hotel's revenue comes from room sales. The other 40% comes from food, beverage, AV, meeting space, and other hotel services. Onsite events will increase your hotel's revenue simply by keeping your large groups onsite. This increases your opportunity to sell F&B and other hotel services while decreasing your corporate groups' expenditures on buses and offsite activities. READ MORE

The Millennial demographic should not be overlooked. According to Forbes, Millennials represent over a quarter of the population in America and hold $200 billion in annual buying power. To date, about 55 million "Millennials" (16-34 year-olds) form the largest share of the U.S. civilian workforce - surpassing 53 million in “Generation X” (35-50 year-olds), 44 million “Baby Boomers” (51-70 year olds), and 5 million of the “traditionalist” generation. With these non-traditional innovators influencing the market, hotels are wondering how to evolve and cater to this new audience. READ MORE

Remember the days when guests called to make hotel reservations? It was not all that long ago. However, times have changed, and the modern consumer's engagement with digital is absolutely transformative. In today's buyer-driven market, travelers prefer to shop and book hotel rooms online or via mobile device. They go direct to the hotel website or a popular OTA, only after having read dozens of peer reviews and researching options on a travel aggregator. More recently, travelers have been drawn to alternative accommodations and consumer-to-consumer options like Airbnb or VRBO. READ MORE

The economic recession and the demands of a new generation of professionals - the Millennials - have inspired a move towards collaborative, creative meeting spaces. Across the industry, how are hotels rising to the challenge? Something magical is happening in the meetings industry. Perhaps the transformation is a byproduct of the downturn of the global economy and the rise of millennials entering the workforce at the same time. In 2009, the economic crisis hit swiftly and the meetings industry was persecuted in the media and among policymakers as an “unnecessary luxury.” READ MORE

The Caribbean hospitality industry has experienced continuous growth following the global economic downturn that began in the last decade. This is especially present with the re-emergence of all-inclusive hotels. Though this sector saw its lull, it is booming with development now. With the creation of vacation club programs, all-inclusive hotels have been able to foster a reliable client base that is extremely loyal. As operating performances continue to strengthen, even more hotel financing opportunities will be available in the future. READ MORE