Making Alan Greenspan Your Hotel Investment Partner

The author presents a capitalization model applied in hotel valuation which is then used to illustrate how an increase in interest rates result in a lower valuation for hotels. It is demonstrated that changes in hotel valuations of up to 20 percent can be directly attributed to changes in interest rates.

Electronic Channels of Distribution: Challenges and Solutions for Hotel Operators

This paper addresses the issues of hotel operators identifying effective means of allocating rooms through various electronic channels of distribution. Relying upon the theory of coercive isomorphism, a think tank was constructed to identify and define electronic channels of distribution currently being utilized in the hotel industry. Through two full-day focus groups consisting of key hotel executives and industry practitioners, distribution channels were identified as were challenges and solutions associated with each.

Hotel Managers' Responses to Ethical Dilemmas

Ethics is a hot topic today in many professions. The author creates a number of scenarios testing ethical situations and surveyed lodging managers as to their reactions.

Is Your Hotel MISsing Technology?

In order to become more effective and efficient in providing guest services, hotels must avail themselves of information technology. A firm's competitive edge and quality can be the result of the successful implementation of an information sys- tem. The authors present in this article the why, who, what, when, where, and how of implementing information systems.

Organizational Commitment and Loyalty Among Part Time Hospitality Employees

Historically, part time employees have played a critical role in the delivery of guest services in the hospitality industry. This study evaluates commitment issues from 169 part time hospitality workers. Discussions focus on effective strategies to boost employee commitment and levels of employee support among part time workers in order to improve behaviors and enhance loyalty.

Hotel Guest e-questionnaires: Implications for Feedback and Relationships

This paper examines the reliability and efficacy of hotel guest e-mail questionnaire compared to the paper questionnaire in the Asian Pacific context. Conducted inPerth,SingaporeandPenang, cities with mature hospitality and tourism industries and a representation of chain and independent deluxe hotels, this exploratory qualitative study examines hotelier views of e-mail guest communication derived from content analysis of guest questionnaires format and content and in-depth interviews with senior hoteliers. The findings indicated that e-questionnaires manifested as e-mails, as a direct replacement of the paper questionnaire, appear to be premature given divergent hotelier views and shortcomings in e-mail response administration. If properly executed, e-mail can play an increasingly important adjunct role to the paper guest questionnaire as a part of a multi-channel approach. The balance/relationship between ���high tech��� and ���high touch��� needs to be maintained: the latter can enhance the latter but should not undermine it.

Toward A Better Understanding of the Evolution of Hotel Development: A Discussion of Product-specific Lodging Demand

In his essay - Toward a Better Understanding of the Evolution of Hotel Development: A Discussion of Product-Specific Lodging Demand - by John A. Carnella, Consultant, Laventhol & Horwath, cpas, New York, Carnella initially describes his piece by stating: ���The diversified hotel product in the united states lodging market has Resulted in latent room-night demand, or supply-driven demand resulting from the introduction of a lodging product which caters to a specific set of hotel patrons. The subject has become significant as the lodging market has moved toward segmentation with regard to guest room offerings. The author proposes that latent demand is a tangible, measurable phenomenon best understood in light of the history of the guest room product from its infancy to its present state.��� The article opens with an ephemeral depiction of hotel development in the United States, both pre��� and post World War II. To put it succinctly, the author wants you to know that the advent of the inter-state highway system changed the complexion of the hotel industry in the U.S. ���Two essential ingredients were necessary for the next phase of hotel development in this country. First was the establishment of the magnificently intricate infrastructure which facilitated motor vehicle transportation in and around the then 48 states of the nation,��� says Carnella. ���The second event���was the introduction of affordable highway travel. Carnella goes on to say that the next ��� big thing ��� in hotel evolution was the introduction of affordable air travel. ���With the airways filled with potential lodging guests, developers moved next to erect a new genre of hotel, the airport hotel,��� Carnella advances his picture. Growth progressed with the arrival of the suburban hotel concept, which wasn���t fueled by developments in transportation, but by changes in people���s living habits, i.e. suburban affiliations as opposed to urban and city population aggregates. The author explores the distinctions between full-service and limited service lodging operations. ���The market of interest with consideration to the extended-stay facility is one dominated by corporate office parks,��� Carnella proceeds. These evolutional states speak to latent demand, and even further to segmentation of the market. ���Latent demand��� is a product-generated phenomenon in which the number of potential hotel guests increases as the direct result of the introduction of a new lodging facility,��� Carnella brings his unique insight to the table with regard to the specialization process. The demand is already there; just waiting to be tapped. In closing, ������there must be a consideration of the unique attributes of a lodging facility relative to its ability to attract guests to a subject market, just as there must be an examination of the property's ability to draw guests from within the subject market,��� Carnella proposes.

The Use of Exit Interviews in the U.S Lodging Industry

This study investigated whether hotel managers systematically collected and analyzed data via employee exit interviews to determine why employees left jobs at their properties. Telephone interviews were conducted to determine whether exit interviews were conducted, what use was made of the interview data, and whether there was a relationship between the use of interviews and the level of turnover. Exit interviews appeared to be more common in larger properties and were used primarily for improving employment conditions, identifying problem areas, and providing closure for the employment relationship. There appeared to be an inverse relationship between the use of exit interviews and the level of turnover

A profile of travelers who are willing to stay in environmentally friendly hotel

The purpose of this study is to describe travelers that have indicated they are willing to stay in green hotel in order to better understand the market segment. There is very little knowledge about these types of travelers, thus making it difficult for hoteliers to know how to create marketing campaigns that target them. Data were collected via an online survey company. Behavior characteristics provided a more distinguishing profile of the traveler than did demographics or psychographics. Most travelers were willing to pay the same amount for a green hotel as a traditional hotel. Implications, future research, and limitations are discussed.

A Study of Online Hotel Reservations on Asia Pacific-Based, European-Based, and North American-Based Travel Websites

This paper reports a study that examined hotel reservation services on travel websites. Using a systematic search, 90 travel websites were selected with an equal number of North American-based, European-based, and Asia Pacfic-based websites. These regions represent the areas of the world with the most Internet users. Based on the developed framework of information quality, the contents of the selected travel websites were evaluated. Be empirical results indicated that the travel websites achieved different levels of quality in online information, and that North American-based websites performed significantly better in some attributes.

A Preliminary Evaluation of the Millennial Shopping Experience: Preferences and Plateaus

This study identified and examined the concerns of hotel general managers regarding ethics in the hospitality industry. Thirty-five managers were interviewed during and immediately following the economic recession to determine which ethical issues in the hotel industry and at their own properties concerned them the most. Results showed that more people and organizations attempted to renegotiate hotel rates, which actions, in turn, led to some lapses in ethical behavior. Managers said that because of the economic downturn, they felt pressure from both private owners and corporate headquarters. They also said a lack of work ethic, low motivation, and low pay caused many workers to underperform in ways that raised ethical issues. Managers also mentioned diversity issues and theft by both guests and employees as ethical issues of concern, and shared stories about their experiences.

A Landmark Decision: The Stouffer Valley Forge Hotel

The information presented in this article is derived from the testimony and exhibits offered in connection with the trial of Auger, et a1 v. The Stouffer Corporation, et al., Civil Action No. 93-2529, which took place in the United States District Court for the Eastern District of Pennsylvania. The authors of this article served as expert consultants and expert witnesses to the plaintiff

Online Pricing Practice for Hotel Room Rates in China: The Case of Shanghai

Travel websites that enable hotel room reservations have created unprecedented business opportunities. However, they have also overloaded hotel customers with information. This situation is particularly true of China, an emerging country with the largest population in the world and the most promising growth prospect in tourism. This study investigated the room-rate pricing practice of five online distribution channels, measured by the lowest available rates. These online channels priced hotels of different categories in Shanghai, China���s largest city. Empirical findings indicated that local websites offered lower room rates than international websites for the selected hotels in different categories. Specifically, Chinatravel consistently offered the lowest room rates for the selected hotels.

A Customer's Expectation and Perception of Hotel Service Quality in Cyprus

In recent years, hotels in Cyprus have encountered difficult economic times due to increasing customer demands and strong internal industry development competition. The hospitality industry���s main concern globally is to serve its customer S needs and desires, most of which are addressed through personal services. Hence, the hotel businesses that are able to provide quality services to its ever-demanding customers in a warm and efficient manner are those businesses which will be more likely to obtain a long term competitive advantage over their rivals. Ironically, the quality of services frequently cannot fully appreciated until something goes wrong, and then, the poor quality of services can have long lasting lingering effects on the customer base and, hence, often is translated into a loss of business. Nevertheless, since the issue of delivery of hospitality services always involves people, this issue must center around the management of the human resource factor, and in particular, on the way which interacts with itself and with guests, as service encounters. In the eyes of guests, hospitality businesses will be viewed successful or failure, depending on [he cumulative impact of the service encounters they have experienced on a personal level. Finally, since hotels are offering intangible and perishable personal service encounters, managing these services must be a paramount concern of any hotel business. As a preliminary exercise, visualize when you have last visited a hotel, or a restaurant, and then, ask yourself these questions: What did you feel about the quality of the experience? Was it a memorable one, which you would recommend it to others, or there were certain things, which could have made the difference? Thus, the way personalized services are provided can make the deference in attracting arid retaining long-term customers

The Specialist: Coming Soon To Your Local Hotel

In an article entitled - The Specialist: Coming Soon To Your Local Hotel - by Stan Bromley, Regional Vice President and General Manager, Four Seasons Clift Hotel, San Francisco, the author���s introduction states: ���An experienced hotelier discusses the importance of the delivery of a high ���quality-to-value��� ratio consistently to guests, particularly as the hotel market becomes specialized and a distinction is drawn between a ���property��� and a ���hotel.��� The author���s primary intention is to make you, the reader, aware of changes in the hospitality/hotel marketplace. From the embryo to the contemporary, the hotel market has consistently evolved; this includes but is not limited to mission statement, marketing, management, facilities, and all the tangibles and intangibles of the total hotel experience. ���Although we are knocking ourselves out trying to be everything to everyone, I don't think hotel consumers are as interested in ���mixing and matching��� as they were in the past,��� Bromley says. ���Today's hotel guest is looking for ���specialized care,��� and is increasingly skeptical of our industry-wide hotel ads and promises of greatness.��� As an example Bromley makes an analogy using retail outlets such as Macy���s, Saks, and Sears, which cater to their own unique market segment. Hotels now follow the same outline, he allows. ���In my view, two key factors will make a hotel a success,��� advises Bromley. ���First, know your specialty and market to that segment. Second, make sure you consistently offer a high quality-to-value ratio. That means every day.��� To emphasize that second point, Bromley offers this bolstering thought, ���The second factor that will make or break your business is your ability to deliver a high "quality/value" ratio-and to do so consistently.��� The author evidently considers quality-to-value ratio to be an important element. Bromley emphasizes the importance of convention and trade show business to the hotel industry. That business element cannot be over-estimated in his opinion. This doesn���t mean an operator who can accommodate that type of business should exclude other client opportunities outside the target market. It does mean, however, these secondary opportunities should only be addressed after pursuing the primary target strategy. After all, the largest profit margin lies in the center of the target. To amplify the above statement, and in reference to his own experience, Bromley says, ���Being in the luxury end of the business I, on the other hand, need to uncover and book individuals and small corporate meetings more than convention or association business.