Hotels struggle with world's toughest challenge
Travel Tourism and Leisure - Executive Report
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BERLIN – German hotel profits fell an average 12 percent in 2002, according to data released today by Deloitte & Touche at the International Hotel Investment Conference. All hotels recorded in Deloitte's HotelBenchmark survey of Germany reported declines in profitability, reflecting the high fixed costs of the business that could not be reduced in line with the fall in customer demand. Occupancy levels were down nearly five percent.
If you are a company employee, shareholder, or potential investor, it is important to understand several parts of the proxy statement. Part 1 discussed the Summary Compensation Table and how it should be read to effectively track executive pay versus performance. Two other areas of the proxy worth discussing are the Stock Option Grants Table and the Aggregate Option/SAR Table.
I became caught up in the excitement of deciding to train as a coach and so went along with the recommendation I should start working with a coach myself. A minimum of 3 months was suggested and that was fine because I was determined that I didn't need coaching anyway.
The threat of looming war is taking an already elevated level of security to new heights. Public buildings, office towers and military installations are increasingly difficult to access. Hotels, especially large destination and gateway properties, are aware of the potential risks to guests and have their own security issues. This is likely to become more of an issue when and if the US goes to war in Iraq.
This Global Hotel Network® Report, sponsored by Kohler, takes a look at "The State of Pacific Asia's Hospitality Industry" from the perspective of Peter de Jong, President & CEO, Pacific Asia Travel Association (PATA). He reports:
The Internet has changed the way business travel is being negotiated, managed and purchased. According to Forrester Research, 70% of Fortune 1000 companies will have installed their own self-booking systems by the end of 2002. Jupiter Media Metrix estimates that the US online managed corporate travel bookings will grow from $12 billion in 2002 to $32.8 billion in 2005. A major trend over the past years is the blending of leisure and unmanaged business travel on the Web. Are hoteliers ready to handle these new challenges? Are they in control of price integrity or are they already losing high-paying business travelers to the online discounters?
This is the second in a series of articles where we are addressing the problems which some borrowers (and obviously their lenders) are having currently with hotel mortgage loans, along with some ideas as to strategies for possible resolution.
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