For the non-accounting readers, I’m going to start out with a simple definition. Inventory turnover equals cost of goods sold divided by average inventory. Our industry is used to turning the food inventory every two weeks (sometimes quicker). With a food inventory turnover of 26, restaurant managers are often unprepared for the much lower wine turnover rate.

More: continued here

Weekly Hotel Industry News Roundup from Asia Pacific

More: continued here

Net Profit, Group Share : EUR596 Million Compared to EUR241 Million as of June 2006

More: continued here

Wyndham Hotels and Resorts today announced that it has become manager of the 364-room Lakeside Princeton Conference Center & Hotel in Princeton, N.J., which will be renamed The Wyndham Princeton Forrestal Hotel & Conference Center.

More: continued here

Meridia Capital Hospitality announced its entrance into the Latin American market through its first acquisitions. The €150million fund has purchased The Ritz-Carlton Hotel in Santiago, Chile. Meridia Capital holds a 100% stake in the asset.

More: continued here

There seems to be an Anti-OTA feeling in the air. In well-publicized moves, big brands, like ICHG, have pulled their inventory from leading online agencies. So as major hotels and airlines brands are concentrating on driving direct bookings, where does this leave the OTAs? What is their role in the distribution landscape? Do the suppliers have all the power and potential for growth?

More: continued here

Resort to Include 2nd Casino, Hotel, Meeting and Conference Space

More: continued here

Wende Blumberg has been promoted to general manager Hilton Atlanta Airport, according to Jean Simmons, area vice president Hilton Hotels Corporation Southeast region, effective September 17, 2007.

More: continued here

The American Hotel & Lodging Association (AH&LA) has named Matt Rhodes as the director of legislative communications.

More: continued here

Forecast of 3.12 Million Occupied Rooms Per Night Represents an Increase of 2.5 Percent Over 2006

More: continued here