By Allison Fogarty Hotels have always been located near transportation hubs. Centuries ago, travelers sought accommodation and refreshment in inns strategically located along the road network to provide a place for man and beast to recharge and refresh. As carriages and stagecoaches gave way to railroads, and sail yielded to steam, hostelries sprang up around […]
By: Andrea Foster & Jenna Finkelstein Business is back for hotels across the United States with occupancy levels surpassing long-run averages and hotels raising room rates more aggressively. According to PKF Hospitality Research (PKF-HR)’s forecast, occupancy is estimated to be above the long-run average in 49 of the 55 U.S. markets they track, 14 of […]
By Alexis Oliver By now we’ve all heard the forecast: the Millennial Generation is set to take the country’s business travel industry by storm. By 2020, Millennials will make up 50% of U.S. business travelers, and will carry $1.3 trillion to $1.7 trillion in total spending power, according to Jeff Fromm, a marketing specialist […]
By Andrea Foster PKF Consulting USA (PKFC) and PKF Hospitality Research (PKF-HR) are respected sources for sound decision-making in the hospitality and real estate industries. We apply our skills to discover the unique aspects of an opportunity for our clients, and to develop practical solutions that can be initiated efficiently, successfully, and profitably. Core areas […]
By Matthew Arrants There is a relative boom going on in college- and university-owned hotel development. Across the country there are approximately 85 hotel facilities that are owned by colleges and universities, with another 14 in the development process. These facilities are unique in that they are owned directly by the schools and are closely […]
By John D. Murtha Doctors say that people who exercise, eat right, reduce stress, and have a balanced outlook on life stay healthy and live longer. So, could it be said that teamwork, having the right resources, maintaining a stable operation and fostering a productive culture will make a hotel healthier and more successful over […]
By Michael Oshins While classroom interactions, readings, group projects and homework can help students develop new insights and understanding, nothing beats experience for the ultimate learning opportunity. With that in mind, Boston University’s School of Hospitality Administration developed Tourism in China, a class that strikes a balance, with classroom learning provided for the first seven […]
By Bradford Hudson A popular cultural narrative suggests that hospitality chains are a product of modern America. Although it seems clear that multi-unit hotel and restaurant brands proliferated in the United States during the twentieth century, historical research demonstrates that the phenomenon is actually much older. The origins of hospitality chains can be traced back […]
By Stephen Jermanok In 1990, I left my job as a broker in Manhattan, booked an open-ended ticket to the South Pacific, New Zealand, and Australia, and wrote my first travel story, “Dining with the Descendants of Cannibals on a Fijian Island” for the Miami Herald. It would prove to be the start of a […]
By Rachel Roginsky and Matthew Arrants Revenue per available room (RevPAR) for the New England region grew 5.2 percent compared to growth of 5.4 percent for the country as a whole. However, there is still plenty of good news: The region was only slightly behind in terms of RevPAR, exceeding the national growth rate for […]