How long hotels need to keep financial records varies depending on the country in which each hotel’s owning company is registered. In the US, most federal tax records must be kept for three years after the return is filed. In the other six countries covered here, the minimum is five...
Hotel Clusters: Transforming Multi-Property Operations and Efficiency
Hotel clusters—groups of properties that share resources under a single ownership or brand—are reshaping multi-property operations. In the hospitality world, “hotel clusters” are a strategic answer to rising operating expenses, guest expectations, and labor challenges. Rather than treat each property as a standalone entity, owners or management companies coordinate specific...