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Over the past four years, utility costs at U.S. hotels have increased at a pace greater than total operating revenue. As a result, utility department expenses increased from 2.9 percent of total revenue in 2019 to an estimated 3.3 percent in 2023. As hotels have struggled to recover from the pandemic, any rise in cost ratios is an area of concern for owners and operators. ....
HFTP's New HITEC Technology Investment Conference Takes Shape, Co-located with HITEC 2024 hospitalitynet.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hospitalitynet.org Daily Mail and Mail on Sunday newspapers.
Docyt to Unveil New Voice-Based Transaction Categorization for Its AI-Powered Accounting Automation Platform at AAHOACON24 venturebeat.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from venturebeat.com Daily Mail and Mail on Sunday newspapers.
Article - Gaining Control of U.S. Hotel Utility Costs - By Robert Mandelbaum and Joe Snider - Over the past four years, utility costs at U.S. hotels have increased at a pace greater than total operating revenue. As a result, utility department expenses increased from 2.9 percent of total revenue in 2019 to an estimated 3.3 percent in 2023. As hotels have ....
Article - Hotel Insurance - A Rising Expense With Limited Control - By Robert Mandelbaum and Christopher Nassa - For most U.S. hotel owners and operators, one of the major challenges in 2023 has been the need to control expenses amidst slowing revenue growth. Through September of 2023, the properties in CBRE s monthly survey of hotel operating statements have seen their total operating revenues increase by 7.4% year-over-year, while total operating expenses grew by 10.0% during the same period. The net result was a decline in Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of 0.2%. ....