Mayock asked Adler what he was most proud of during his Loews career.
“The last 10 years as president, really transforming the portfolio. Back 10 years ago, we had really a collection of hotels—some were 2-star, some were 3-star and some were 4-star. As part of the evolution of the brand and really having the brand stand for a consistent level of service, amenities and product, we went through an entire process to make sure that not only is the physical property offered at 18 Loews hotels is consistent, but the level of service is consistent. We really became customer-centric, and it’s been recognized by J.D. Power (and Associates) and Market Metrix and really recognized in the meetings business. That transformation and that evolution of the brand is what I’m most proud about.”
Read “Loews’ Adler looks forward to other opportunities”
“Given the instability in the broader economy, CREL CDO delinquencies are expected to continue to seesaw going forward,” Fitch Ratings director Stacey McGovern said in a statement.
There were 11 new delinquent assets reported in September, including three matured balloon loans, six new credit impaired securities and two term defaults.
The typically asset-light franchisor has deployed US$20 million to $US30 million in equity to partially fund three recently announced ground-up Cambria developments, a move that has certainly appealed to developers in times where new-construction debt is nearly impossible to obtain.
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“Whether it be in (joint-venture) money or whether it be in mezzanine positions, us putting up some equity is the only way we’re going to get those deals done,” said Brad LeBlanc, VP of franchise development for Choice. “These developers would’ve never done the deals if Choice hadn’t stepped up. I would just be a second- or third-tier player but it makes all the difference if we step in and have skin in the game.”
Read “New strategy draws developer interest in Cambria”
Noise, for example, is the most common guest problem across the industry at 16%, yet it is only reported 43% of the time. Internet usage-related issues, in contrast, occur less frequently (13%) yet are reported at a much higher rate of 60%.
In measuring hotel problems per hundred guests, meanwhile, hotel/room maintenance, Internet usage and noise are the three problem types hotel staff have the greatest opportunity to address.
Asking whether problems were reported, resolved and to what level of guest satisfaction is an important element in understanding this dynamic in guest tracking programs. While hoteliers can’t address what a guest doesn’t raise to the staff, hoteliers can start to get smarter in learning what is not known.
Read “What you don’t know about your guests’ problems”
Locations popular with vacation-goers saw big rate drops during the month. On the island of Majorca, for instance, Playa del Palma saw rates fall by 41%; Calla Millor was down 38%; and Alcudia was down 33%.
Elsewhere in Europe, rates in Barcelona and Milan, Italy, were down 18%; and cities seeing 15% decreases were Geneva, Switzerland, and Amsterdam.
Compiled by Shawn A. Turner.