Hotel Management Tips & Ideas by XOTELS
Step into the world of hospitality excellence with the XOTELS‘ Hotel Management Blog. Discover valuable insights, strategic tips, and industry updates curated for aspiring and seasoned hotel managers.
Step into the world of hospitality excellence with the XOTELS‘ Hotel Management Blog. Discover valuable insights, strategic tips, and industry updates curated for aspiring and seasoned hotel managers.
It is now more important than ever to make every guest's stay be as fulfilling and enjoyable as possible for your hotel. It is simply too great a risk to lose revenues as a result of bad reviews, having to issue refunds, or through other issues that generate guest complaints.
In this article, we reflect on where such issues may arise, how to measure, and how to take fast, effective action allowing you to manage your hotel in the best way possible.
If you would like to invest in a hotel and are doing your research, at XOTELS, a company specialised in Hotel Asset Management, we would like to share some giveaways and a list of Top 10 tips to make wise decisions when investing in a hotel.
The concept of the hotel has existed for hundreds of years. Since the days of stagecoaches, overland exploration and urban growth, entrepreneurs around the world have dived into hotel ownership. They sensed the potential, economic opportunity, purpose, growing markets and prestige. In the modern hospitality industry, not too much has changed. So what are the reasons for hotel investment?Let´s take a look from our perspective as a hotel management company.
Do you like making decisions with sound info? Of course! So do hotel buyers, lenders, owners and sellers. Making informed decisions about potential or operational hotel investments means using accurate hotel valuation methods. Numerous methods exist, each with good and bad points. It’s the classic hotel real estate issue… how do you determine a hotel’s value without selling it? Here’s the guide to hotel valuation methods we put together from our point of view as a hotel management company.
Sustainability is the future of the hospitality industry. It has grown to be a topic of massive interest to both hoteliers and investors. Its positive outcome is immeasurable no matter the scale of the hotel or resort. Looking through our perspective as a hotel management company, we have put together a list of reasons why hotel investment in sustainable real estate and eco-friendly hotels is essential. Find out why you should work on reducing your ecological and environmental footprint with your next hotel concept project.
Need to know what a hotel investment term means? [...]
Managing a hotel is not an easy nor a [...]
Looking for the best hospitality articles to read?
Well, then you have come to the right place...
We have compiled a list of our most read hotel management articles that will ensure you are fully up-to-date with the latest insights, tips, and best hospitality practices.
The sector-wide standard for hotel accounting practises, the Uniform System of Accounts for the Lodging Industry (USALI format) has been in operation in some form or other since 1926. With our experience as a hotel management company, we can say that these best practises are essential for any hotel to create higher uniformity and consistency in the presentation and understanding of a hotel´s performance. The primary functions of this uniform system of accounts for hotels has been to provide hotel managers, owners, and other relevant stakeholders with operating statements, and to be able to run comparative analyses across different business areas. The 11th edition of USALI was released in 2015, requiring hotels to update how they reported accounting and financial data and introducing many new changes. Now knowing the importance of the system, let's take a deeper look at the details and highlight what is most important to understand as a stakeholder for a hotel.