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At HITEC, I talked with Michael Grove of HotStats, which is now part of Duetto, about why hotel performance has to move beyond rooms revenue.

Michael came with actual numbers on profitability, but the conversation went quickly into how owners and operators should read the business. Demand and rate only tell part of the story. Profit depends on where revenue comes from, what it costs to capture it, and which parts of the operation deserve more attention.

We got into U.S. profitability, global travel shifts, food and beverage pressure, wellness, golf, ancillary revenue, and why Michael likes the phrase "performance engineering."

I like that phrase because it gets closer to how owners and operators actually need to think. Revenue is one piece. Profitability tells a much fuller story.

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