1. The Numbers Don’t Lie? Once again we are faced with an incredible array of numbers coming out of respected professionals who are trying to figure out the impact of the National recession. The problem is that the numbers can be made to say anything, but a careful review will show that no matter whose [...]
Archive for the ‘Business Profitability’ Category
Recession Reality for Bed and Breakfast Inns.
Posted in Bed & Breakfast Consulting, Bed & Breakfast Operations, Business Profitability, Discounted Rates, Expense and Income Tracking, Financial Results, Innkeeper trends, Innkeeping advice, Optimizing Results, Yield Management, web marketing on March 2, 2009 | Leave a Comment »
Bed & Breakfast Inns vs. Hotels: We Win, Hands Down!
Posted in Bed & Breakfast Operations, Branding Your Bed and Breakfast, Business Profitability, Financial Results, Hints & Tips, Innkeeper trends, Innkeeping advice, Optimizing Results on January 21, 2009 | Leave a Comment »
We spent some time over the Holidays with our family outside of Boston. Rather than displace some of my nephews, we tried the closest hotel. This was a large chain hotel on a major route west of Boston with a huge shopping center across the street. While there were several small (3 room) bed and [...]
Operating a Bed & Breakfast – Complacency Spells Trouble!
Posted in Bed & Breakfast Consulting, Branding Your Bed and Breakfast, Business Profitability, Discounted Rates, Financial Results, Inn Financials, Innkeeping advice, Marketing Your Bed and Breakfast, Optimizing Results, Yield Management, web marketing on November 20, 2008 | Leave a Comment »
The most recent news from the Hospitality Industry is not good for Innkeepers. Hotel REIT giant, LaSalle Properties announced it was cutting 20% from its hotel staffing (mostly run by large hotel management companies) and has rescinded its 2008 guidance to the stock market. LaSalle reported that its Revpar (revenue per available room) decreased by [...]
Optimizing your Bed & Breakfast Inn Business With Metrics
Posted in Business Profitability, Optimizing Results on June 30, 2008 | Leave a Comment »
With a clear downturn in the economy facing us, it is really time to put your Inn’s business practices in order. Metrics is the study of measuring past performance so that you can improve your business. The basic concept is that you cannot improve the future without looking at what happened in the past. Simply [...]
Bed and Breakfast Expense/ Income Tracking
Posted in Business Profitability, Expense and Income Tracking, PAII, PAII Conference on April 3, 2008 | Leave a Comment »
The only way to improve your Bed and Breakfast or Inn business is to effectively track where you are today and to make realistic goals for the future of your business. At the 2008 PAII Conference Howard Levitan of Quantum Hospitality Group will be discussing the best methods to track where your business is today [...]
ARE YOU READY TO MAXIMIZE YOUR PROFITABILITY?
Posted in Business Profitability, Expense and Income Tracking, Inn Financials on January 28, 2008 | 1 Comment »
Arden Dale writes in a compelling article published in the Wall Street Journal on January 8, 2008 that “Want to Sell a Business? You May Not Be Ready.” Ms. Dale goes on to state quite cogently that many small business owners are relying on the ultimate sale of their business for their own personal retirement [...]
Tough Times for Innkeepers
Posted in Business Profitability, Innkeeper trends, Marketing Your Bed and Breakfast on August 1, 2006 | 1 Comment »
Over the last few months we have talked to many, many Innkeepers around the country to see what is happening out there. We have heard a lot about the wars around the Globe, the weather, the high gas prices, and the poor economy. The hopes of the Early Spring and the nice advanced bookings for [...]
