As more new multifamily properties enter the market, older communities are often renovated to remain competitive. Upgrades to aesthetics, the addition of new amenities, and even structural changes are typically part of the process to help assets stay current. But property owners need to be cautious and strategic in their approach as extensive rehab projects can result in units renters simply don't want or can't afford.
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So much depends on a hotel pre-opening plan that owners and operators can't afford to ignore it. It directly impacts not only the grand opening, but the future operational success of the hotel as well. For hotel management groups juggling multiple projects at once, it becomes critical to have a pre-opening plan to avoid disaster.
The trusty office vending machine. It's always there for you in times of need, like during those dismal afternoon hours when you find yourself falling asleep at your desk. But there comes a time when, despite the machine being full, the options no longer appeal to you. That's a sure sign it's time to replace your vending machine selections with some new products. Here are four options to mix up your product selections.
Managing hotel operations is sort of like juggling knives while walking on a tightrope blind folded. Just when you get a handle on one thing, two more get tossed in the air. One misstep and everything spirals out of control quickly.
A great way for companies to increase revenue is through offering ancillary services. Not only do they add to your bottom line, but they help bring additional value to your core product or service. However, to be successful you must ask yourself two questions:
- Why should you offer them?
- How will they be managed?
The answers will keep your ancillary services focused on adding real value to both your customers and your organization. Knowing "why" will help you decide which services to provide. Planning for ongoing management will keep your internal operations organized to maximize the value of the service and increase revenue.
As with every industry, there's always something changing in vending or news stories worth sharing. New products, technology, and strategies are always being tried and tested. Here are five noteworthy stories from the vending industry.
For companies actively seeking ways to reduce their carbon footprint, vend misers are a great element to incorporate into an energy savings strategy. These devices, once affixed to your vending machine(s), can yield significant savings and energy reduction.
Consistency in business is vital to success. It helps keep an organization focused on its goals. Large companies, particularly those with multiple locations, often find it more challenging to maintain consistency as the distance between field locations and corporate headquarters can muddle the implementation of strategic initiatives set forth by senior executives. To ignore the need for consistent processes and frameworks within your organization is to invite confusion and misalignment. Here are three ways to maintain consistency to help keep your company focused on its goals.
It seems as though everything is connected to the internet these days. Name a device that isn't. Pretty difficult, right? Everything from thermostats to TV's to garage door openers have some form of online functionality. Even vending machines can connect to the internet. That's the world we live in. The world of the internet of things, or IoT.
The only constant is change. If there's an industry that this mantra applies to best it's hotel management. Keeping up with the constant demands of the ever-so-fickle traveler is a real challenge. You can never know for certain if making a decision based on consumer trends will lead to success or failure until after you've made it. Take, for example, the rise in popularity of hotel pantries. In lieu of vending machines, many managers have fit these mini convenience markets into the design of their lobby so guests can easily grab a snack during their stay. But should your hotel jump on board? Will vending machines no longer be a viable option for hotels? Below are the pros and cons of both approaches to snacks and beverages to help you decide which is best for your hotel.