The majority of money earned on the Las Vegas Strip – about 52 percent — comes from food and beverage as Sin City evolves to keep up with changing tastes and strives to remain a destination for Southern California visitors.
Fear of recession always lurks behind a strong economy, particularly during prolonged recovery periods, which the U.S. has been experiencing for what is now almost a decade.
Check out this video to see highlights from Meet The Money 2018.
While the hotel sector is performing well, it’s hardly a time to rest easy and rake in profits, according to hotel experts speaking at the National Association of Real Estate Editors annual real estate journalism conference in Las Vegas. They offered a list of issues to watch.
Whether a GM rises from within a management company’s ranks or joins a hotel from a different company, the management groups look for some key factors when selecting a property’s next leader.
At this year’s Hunter Hotel Conference, industry leaders spoke about the evolving role of tech in hospitality and how it’s disrupting the industry.
Brands have always shopped themselves as providing unbeatable value through reservations, brand recognition and loyalty programs. Indeed, more than 70 percent of all hotel rooms carry a brand, according to STR.
The struggle to persuade guests to book direct instead of through an online travel agency is ongoing, but hoteliers have a number of factors working in their favor.
As mixed-use developments become destinations for leisure and business travelers, they are likewise becoming a preferred destination for hotel investors.
Low interest rates, although climbing, continue to drive a search for yield that is drawing capital into commercial real estate—particularly hotels, according to Daniel Lesser, president and CEO of LW Hospitality Advisors.