Temperatures rise. Humidity creeps up. Sounds like time to pack up and head to the nearest beach. While your team may be thinking 'vacation', you should be thinking 'revenue' when it comes to your leisure segment.
Every resort owner knows that the time between Memorial Day and Labor Day is peak. The kids are out of school by mid-to-late June, making it family time. For a moment, though, let's focus on city properties. Bricks and mortar are depreciated all 12 months of the year. There are no summer breaks in your debt service even as the meetings and conference segment wanes. You need a plan to cover your business through a quarter that will see limited, if any, group activity. So, let's examine the fundamentals of a solid leisure plan.
(Article by Larry Mogelonsky, originally published in HotelsMag on June 16, 2017)
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