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Topic - PKF

Sustainable Hotels
Hotel Gilbert - Exterior

Showcasing Hospitality Properties and Their Pioneering Eco-friendly Practice - By Adam Maclennan and Aneliya Antova

This article showcases real life examples of hotel businesses that are taking steps to contribute towards achieving the United Nations Sustainable Development Goals and meeting the targets by the Paris Agreement. Businesses and governments need to take action to meet the challenges we all face. We have highlighted seven hotels below where owners and operators are taking these challenges seriously and are finding ways for their businesses to be part of a solution which embraces hospitality and nature.

Greenwashing
Hotel Marcel New Haven, Tapestry Collection by Hilton, USA

Greenwashing: How Green is It? - By Adam Maclennan and Tomislav Sili

On March 22, 2023, the European Commission adopted a 'Proposal for a Directive on Green Claims'. The proposal is designed to put a stop to the practice of greenwashing and, if adopted by Member States of the Union, it will force companies doing business in Europe to be more scrupulous and evidence based about their environmental claims.

Co-Living
Social space at Zoku Vienna

Co-Living - The New Real Estate Generation - By Tobias Siegel

Co-living can be defined as a mixed concept of hotel and permanent residence for different target groups. The focus of these concepts lies hereby on the attractive design of the public areas. One target group are digital nomads and young professionals who can work independently of their location and usually stay in a particular city for a few months before moving on and working from another location.

Uniform System Of Accounts For The Lodging Industry

USALI Changes Offer New Benchmarks- By Robert Mandelbaum

Every ten years or so, the Financial Management Committee (FMC) of the American Hotel & Lodging Association revises the Uniform System of Accounts for the Lodging Industry (USALI). The USALI serves as the industry standard for reporting hotel revenues and expenses. Revisions to the USALI are necessary in order to keep up with changes in industry practice, as well as changes in accounting rules and regulations.

Hotel Cancellation Fees

Hotel Attrition and Cancellation Revenue - By Robert Mandelbaum

In an attempt to gain better control over their inventory and pricing, hotels have begun to tighten up their transient cancellation policies. Starting in 2015, some of the major hotel companies began to extend the time required by guests to provide notice that they will not be arriving and avoid being charged any cancellation fees. Prior to that, hotel companies introduced discounted non-refundable room rates similar to the airlines.

Boutique Hotel Trends

Bucking Trends Boutique Hotels with Food and Beverage - By Robert Mandelbaum

For the past several years, limited- and select-service hotels have been extremely popular among hotel developers. According to STR, Inc. 80 percent of the properties (70 percent of the rooms) that opened in 2015 did not offer a restaurant. Also lagging in development activity are independent hotels. Of the 775 new hotels that opened in 2015, only 79 (10.2%) were not affiliated with a brand. These trends are the result of consumer preferences and the realities of financially feasible hotel development.