Hotel & Motel Management - September 18, 2007 - (Page 24)

24 Columns H&MM September 18, 2007 | HotelMotel.com www.HotelMotel.com/digital_edition Renovate Continued from page 8 lio. According to White, during the 12-month period following these renovations, the average revenue per available room for this portfolio went from $55 to $75. White said that this portfolio increased value from $92 million to $160 million, hotel revenue increased 36 percent and the net income increased 49 percent. In this case, the renovation was a wise investment. As consultants, we are asked by many clients to evaluate the return on investment for various hotel renovations. This evaluation involves several tasks: comparison of your hotel to the competition, an understanding of new supply coming online, analysis of the hotel’s demand mix and historical ﬁnancial performance, a true estimate of the costs of the renovation, prepara- tion of ﬁnancial projections and assuming no renovation (base case) and with a renovation. One consideration in the base case model is to determine whether performance will decline without the renovation. Today’s hotel customer is smart and savvy. Owners and operators must provide a fresh look to maintain their position within a marketplace. The owner can, in many cases, extend the life of the hotel and generate more proﬁts with a renovation. Careful consideration and the spending of renovation dollars can provide returns that owners are looking for in today’s very competitive hotel market. hmm@questex.com Rachel J. Roginsky (rroginsky@ pinnacle-advisory.com), a member of the International Society of Hospitality Consultants (ishc.com), is principal of Pinnacle Advisory Group in Boston. Inspired Continued from page 20 reading and welcome materials were walking and activity kits. They provided inspiration to explore different sites and areas I might have otherwise overlooked. (Afﬁnia Hospitality) It was relaxing enough to inspire me to read my book. The pool area was inspiring enough for me to want to go and swim some laps. (Best Western) I’m inspired by the frontdesk girl who always knows my name when I walk in, and remembers what kind of room I like. She and the other employees always make you feel as if they are genuinely happy to see you and that’s a good feeling when you’re away from home! (Country Inns & Suites by Carlson) My daughter and I found the comfortable room conducive to having long talks. We wrote a letter to a relative telling her of our stay at the hotel. I enjoyed reading a book sitting in the wing chair, feeling totally relaxed. (Crowne Plaza) The room decor was very warm and elegant. It inspired me to do some redecorating at home. (Embassy Suites) Hotel grounds were beautifully arranged for all senses, vision, tactile, sound, and at every step one found something of interest and beauty. (Hilton) The atmosphere in the hotel was almost regal. The staff was friendly, right down to the housekeeping crew. And the art—amazing! I really like the Hilton Anatole in Dallas! (Hilton) It just made me feel like I was somebody. The whole atmosphere was that way. The atmosphere includes the paintings, sculptures, rugs, chandeliers, lighting, and I could go on. (Hilton Hotels Corp.) Simply being treated with respect and care. (Starwood Vacation Ownership) hmm@questex.com Jonathan Barsky and Lenny Nash work for Market Metrix LLC (MarketMetrix.com), a ﬁrm that provides customer and employee programs for the hospitality industry. For more information, call (800) 239-7515. Experience Integrity IN THE details Details summary Detail point Detail point Detail point Results Nearly 70 exclusive listings available on our website: www.mumfordcompany.com Since 1978, the Preferred Broker in High-Quality Mid-Market Hotels T H E M U M F O R D C O M PA N Y ATLANTA CHICAGO DALLAS NEWPORT NEWS 757.873.0962 CIRCLE NO. 155 http://HotelMotel.com http://www.HotelMotel.com/digital_edition http://ishc.com http://www.mumfordcompany.com http://www.mumfordcompany.com http://MarketMetrix.com

Table of Contents Feed for the Digital Edition of Hotel & Motel Management - September 18, 2007

Hotel & Motel Management - September 18, 2007 Contents Vista Inns Redefines Business Model Conley Applies Satisfaction Theory to Boutique Hotels Questex Acquires Oxford Publishing Perspective At Your Risk Consultant’s Corner Sales Clinic Travel Trends On Finance Franchise Law Cornell Insights HotelWorld Update Training Trends Satisfaction Trends Management Trends Speakers Named, Registration Open for IH/M&RS Going Green Saves Green Trends & Stats Vacuums Go the Extra Mile Transactions Offsetting Emissions is Newest Sustainability Initiative Minibar Advancements Supplier News People on The Move ADA Compliance Can Be Easier With Programs Business Travelers Interested in Remote Check-In/Out Awards Markets Dictate Renovations vs. New Builds More Development Opportunities Available Top Hotel Companies Survey The Lodging Conference Previews Ad/Editorial Index Marketplace Classifieds Checking Out

Hotel & Motel Management - September 18, 2007

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