May 13, 2015
By: Ellen Callas, Vice President of Operations at Richfield Hospitality
Walk into a new hotel of any major brand and you will be hard pressed to see the front desk immediately. Instead, your senses will go into overdrive with the delicious aroma from the modern lobby café. Perhaps the presence of a hip microbrew bar will catch your eye but undeniably you will encounter gatherings of customers around large communal tables complete with every high tech convenience under the sun. Contrast this experience with entering a 30 year old hotel with a serene entry way leading to a bank teller style front desk and a bland, quiet corridor to the elevator. The new, sleek gathering place lobbies are becoming more prevalent and a very compelling feature providing a significant differentiation to established properties.
With competition for customer loyalty fierce, hotel owners are embarking on off cycle renovation projects and changing the footprint of their hotel lobbies dramatically. The major brands are supporting these efforts by developing retrofit architectural and design schemes for varying sized properties. With installation investments as low as $150,000, these new lobby transformations are not only updating the cool vibe of the hotel but increasing hotel revenues. With average revenues ranging from $3.00 – $6.00 per occupied room, the ROI on these new lobby outlets can be as short as two years.
One only has to walk into a hotel which has undergone a lobby renewal to see that it is not just the millennial customers desiring the new chic niche, but baby boomers as well are just as invested in the communal space. Whether working on laptops and striking up conversations with other customers or grabbing a quick bite from the grab & go offerings, these relaxing and inviting spaces are making what was once a serene lobby experience into an active, exciting place to be. Turning their guest room to a mere part of their living space while visiting the property.
At Richfield Hospitality, we have partnered with the major hotel brands to identify opportunities to upgrade our lobby spaces, bringing our more mature properties in direct competition with the newer fashionable hotels popping up. These retrofitted lobby venues not only drive incremental revenues and customer loyalty but ultimately increase the value of the asset. As we push through the second half of this decade, lobby conversions will be common place. The hotel industry continues to follow the cues of our customers, from unbelievably plush beds, expanded Wi-Fi connectivity to lobby great rooms. But one thing is certain, it is exciting to see where our business and leisure customers will take us in our need to stay connected.
May 21, 2014
DENVER, Colo. – – Richfield Hospitality, a leading hotel management company, today announced that Will Loughran, the company’s senior vice president of sales and revenue strategy, has been named president.
“Will has been a consistent source of innovation and leadership during his tenure with Richfield,” said Sherman Kwek, CEO of City e-Solutions Limited, Richfield’s parent company. “Over the course of his career, he has proven himself in the various disciplines that he has undertaken and his background comprises a strong blend of operational and sales experience, not to mention his exceptional teamwork abilities. I am confident that his passion for the hospitality business will enable him to deliver outstanding results for both Richfield and the owners of the properties we manage.” (more…)
September 10, 2012
DENVER, Colo. – – September 10, 2012—Richfield Hospitality, a leading hotel management company, today announced that Allen Kramme has been named senior vice president of operations, responsible for directing the day-to-day operations and financial performance of the company’s 29-hotel portfolio. (more…)
September 9, 2011
By: Roger Yu, USA Today
Hotels are spending more to spruce up rooms, lobbies and workout facilities after three years of holding the line.
Spending by U.S. hotels on improvements will increase 30% to $3.5 billion this year, New York University’s Tisch Center for Hospitality, Tourism, and Sports Management newly estimates.
It’s the first increase since 2008 and is driven by a recovery in customer demand and a push from national chains, the research says. (more…)
July 6, 2011
By: Lee Rossiter, Chief Financial Officer at Richfield Hospitality
Credit card processing fees are a significant expense for any hotel. Fees can average 2% of annual revenues; so for a property with $10 million in annual revenues, fees would be $200,000. But, who’s to say your fees shouldn’t be 1.8%, which equates to a $20,000 savings? (more…)
May 3, 2011
By: David Earl, Corporate Centralized Controller at Richfield Hospitality
One of the most controllable expenses in a hotel is labor. Having the right number of employees scheduled to work each day is paramount to the guest experience and controlling the labor costs. Too many employees scheduled will result in lost profit and having less work to do. On the other hand, having too few employees scheduled results in work standards not being met, employees feeling rushed and stressed, along with guest complaints about the service and product quality they receive during their stay. (more…)
February 28, 2011
By: Robert Ferree, Vice President of Operations at Richfield Hospitality
DOING BUSINESS AS USUAL? YOU’RE LOSING PROFITS!
During my travels to various hotels across the country I notice the ways things are done or not done. I speak with many managers about the performance of their hotels and performance of their competitors. Many of these managers spend time grumbling about the things they have no control over and how it’s impacting their bottom lines. I usually walk away wondering why the managers are not focused on those things in which they ARE in control of that would help increase profits. (more…)