By Dr. Suzanne Markham Bagnera and Emily Stewart While the hotel industry has entered into territories unknown and never seen before in our lifetime, there is no reason to panic. This present perfect storm has—both a health and financial—crisis occurring at the same time. Between the combined terror-related travel concern disruptions from 9/11 (from the historical […]
By Morgan Brown Shortly before Thanksgiving of 2015, it was announced that Airbnb had raised $100 million at a valuation of $25.5 billion. That $100 million was a drop in the bucket compared to the war chest of $1.5 billion the company raised earlier in the summer, raised on the back of increasingly strong growth. […]
By Michael Oshins The complexity and challenges of owning and operating a hotel have changed over the years. Traditionally most hotels were owned and managed by the same person (or company). In today’s marketplace, several entities can be involved, including owners, developers, management companies, brands, affiliations/consortiums and asset managers, resulting in a far more complex […]
By Joshua Bowman In July 2014, Zack “Danger” Brown famously launched a crowdfunding campaign on the Kickstarter website. To his surprise, he raised ten times the desired amount in the first day. Within a few months, Mr. Brown raised over $55,000 from 6,911 different complete strangers. Mr. Brown’s idea? Potato salad. Mr. Brown’s crowdfunding campaign […]
By: Susan Wilson April 14, 2015 was the 150th anniversary of the assassination of President Abraham Lincoln. This is the story of how that fateful day was linked to Boston, the Booth Brothers, and the Parker House. Hotel personnel have always collected wondrous tales about the visiting celebrities they’ve observed over decades of service. Few […]
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 […]