Hotels Food

How the Hotel and Travel Industry Can Monetize Non-Fungible Tokens

September 8, 2024

by suap

How the Hotel and Travel Industry Can Monetize Non-Fungible Tokens

Written by: Dominika Duziak Editor’s Note: This blog post will feature podcast episodes from the HospitalityVerse Podcast, a new series that discusses the latest trends in hospitality technology, including discussions on the Metaverse, blockchain, NFTS and more. Remember NFT: one of the hottest buzzwords of 2021? Looks like last year’s hype died down — impacted by the “crypto winter” and the FTX meltdown. Just to recap: non-fungible tokens (NFTs) represent unique digital assets recorded on a blockchain that certifies their authenticity and ownership. Typically, when we talk about NFTs, we think of digital art and collectibles. Christie’s, one of the…

September 3, 2024

by suap

The Lag in Food and Beverage Recovery

Written by: Robert Mandelbaum and Andrew Hartley According to CBRE’s September 2022 Hotel Horizons® forecast for the overall US lodging industry, rooms revenue per-available-room (RevPAR) will exceed 2019 annual levels in 2022. This is driven by the accelerated recovery of average daily rate (ADR) which first occurred during the third quarter of 2021. For owners and operators of full-service, convention, and resort hotels, unfortunately, food and beverage (F&B) revenue is lagging in recovery and yet to return to pre-COVID levels. This can be attributed to a combination of the following factors: Health regulations The lag in group demands recovery Staffing…

August 30, 2024

by suap

HFTP Presents: 2022 Year in Review

For HFTP, the year 2022 saw the return of some of its most popular initiatives and the launch of a successful new program. It marked the bittersweet departure of some beloved HFTP leaders, and the arrival of enthusiastic individuals ready to take up their mantles. Ready for a rundown of the most noteworthy highlights of the year? Keep reading. The Return of the Biennial Compensation and Benefits Report: Hospitality professionals regularly reach out to HFTP seeking the latest version of this long-standing research report. Over its 30-year history, this report has helped countless professionals gauge the latest industry trends to…

Here Is Why ESG Holds Significance in Asset Management

August 28, 2024

by suap

Here Is Why ESG Holds Significance in Asset Management

Written by Shivam Sharma As an institutional investor, consider your investments — a hotel, club, restaurant, anything. Being an investor requires knowing how to allocate the appropriate funds to the right assets at the right time. But what if you have someone who can intricately manage that for you? This is where an asset manager would step in and decide what exactly investors should expect in returns from their assets. They define the metrics and targets to be achieved so that the entire asset is optimized to its maximum potential. Then, there is ESG: environmental, social and governance. Environment: issues…

August 23, 2024

by suap

An Interview Between HFTP CEO Frank Wolfe and ChatGPT

By: Frank Wolfe, CAE, FIH | HFTP CEO ChatGPT has been dominating the news since (he? she? it?) was revealed to the world in late 2022 as the latest in AI-driven, natural language processing technology. Is this new chatbot launched by OpenAI something to fear or something to embrace? I recently “interviewed” ChatGPT to learn more. Currently, the chatbot does not have a voice and only communicates by text. To give full credit, I have cut and pasted ChatGPT’s text responses to my questions verbatim, without any edits. Enjoy! FW: Who is ChatGPT? ChatGPT: ChatGPT is not a person, it…

August 18, 2024

by suap

No Shortage of Guest Engagement Despite Labor Shortage in the UK

The UK has been all over the news for quite a while. But the UK has been making rounds even on hospitality news because of one problem: A staff shortage is so bad, hotels have to resort to shutting down a few hours or a few days a week. Hoteliers are no strangers to the difficulties of finding, training and retaining staff. With the pressure to make hospitality experiences enjoyable and memorable, the labor shortage can cause serious issues. Especially since traveler volumes have been rising consistently, it’s now high time to find solutions to this pervasive problem. The problem…

August 17, 2024

by suap

Here’s when Food Network star Giada de Laurentiis’ first Arizona restaurants will open

After construction was halted due to the onset of the COVID-19 pandemic in 2020, the Caesars Republic Scottsdale hotel is back on track and is expected to open early next year near Scottsdale Fashion Square. The 11-story hotel will include two new restaurants from Food Network chef Giada de Laurentiis: Luna by Giada and Pronto by Giada. What restaurants will Giada de Laurentiis open in Arizona? Luna by Giada will be a spinoff of her original Las Vegas restaurant, described as an “indoor-outdoor California-inspired Italian concept.” The menu is still under wraps, but De Laurentiis revealed that guests will be…

August 11, 2024

by suap

What is a Hotel Property Management System (PMS) Software?

January 23, 2023 Blog, Hotel Industry A Hotel Property Management System (PMS) is a software application used by hotels and other types of lodging facilities to manage and automate various aspects of their operations. It typically includes features such as front-desk functions, reservations, room assignments, billing, and reporting. The goal of a PMS is to help hotels streamline their operations, improve guest satisfaction, increase efficiency and maximize revenue. PMS also allows hotels to manage and track their inventory, pricing and rate plans, handle customer data, and generate reports. It can also integrate with other systems such as a Channel Manager,…