The hotel industry is always looking for ways to increase occupancy rates and maximize profits. One of the key metrics they track, next to ADR, is the hotel occupancy rate or OCC. So let’s take a look at what the OCC is and how hotels can increase it. So what is the occupancy ...
A certificate of occupancy is a legal document that proves a structure, such as a house or office building, is safe to inhabit. In addition to the property address and owner, a certificate of occupancy will include the following three things: ...
First, the lead investor on a real estate syndication deal is known as the sponsor, or alternatively the general partner (GP), operator, or syndicator.While lawyers quibble that there are technical differences between those labels, we’ll use them interchangeably. Sponsors are professional real est...
What is a transient occupancy tax? Be specific. Tax: Taxes are mandatory financial fees, charges, or levies that are imposed on a taxpayer (company or individual) by the government for the purpose of funding the expenditure of the government. Taxes could either be direct or indirect and are...
The key to headcount planning and forecasting is to avoid being reactive and to be proactive. If you desperately need new hires and staff turnover is outrageous, you're going to have a hard time keeping up. Tight labor markets often spell disaster as skilled talent is scarce and the recruit...
The industrial Internet is a new infrastructure, application mode, and industrial ecosystem that deeply integrates next-generation information communication technologies with the industrial economy. By fully connecting all elements, including people, mac
Occupancy refers to the number of people in a meeting space, while utilization is how often a meeting space is being used. Measuring and reporting on both concepts involves asking (and having relevant data to answer) a number of key questions, including: How often is a meeting room being us...
Group An assemblage of persons or objects gathered or located together; an aggregation A group of dinner guests. A group of buildings near the road. Individual An individual is that which exists as a distinct entity. Individuality (or self-hood) is the state or quality of being an individual...
Once you find a property that fits your criteria, make sure your wholesale real estate transaction will make financial sense. First, find out the property’s fair market value. Looking at comparable properties sold in the area, occupancy rates, and cash-on-cash returns can help. Then, determi...
s income from the property. This is especially important if a property is in great need of repairs and many units are vacant—indicating a low occupancy rate. If the units are not filled on a regular basis, rent collection will be lower than it could be, and purchasing the property may ...