Service charge

Peter Davies explains why removing service charges is an expensive one-way street for hotel operators.

Every few months I read that another hotel company has made the decision to abolish service charges, tips, trunk diets and everything that goes with it. Most of these companies do it for what they really think is the right reasons and with the best intentions and motives. Some do it to confuse, some to […]

Service charge

In Dubai, 2021 property service fee recoveries are at a dismal 25%, triggering a new crisis

Dubai: Service charge recoveries in Dubai’s freehold property market have fallen to around 25% of what they are expected to be in the first four months of 2021, triggering another major crisis involving landlords and their companies property management. “Generally, year-to-date collections should be in the 60-70% range, but the majority of owners don’t seem […]

Service charge

40% of Leaseholds Don’t Know Exactly What Their Service Fees Are Making

Research by property management specialist Keller Williams UK found that the majority of leaseholds view service charges as unfair, the lack of transparency on how they are spent is also a significant issue. In addition to land rents, rental charges will be paid by some tenants to cover the maintenance costs of the building in […]

Service business

Thermo Fisher Expands Pharmaceutical Services Business with $17.4 Billion PPD Acquisition

People carrying a box from ThermoFisher Scientific, a company that produces coronavirus tests, walk outside Downing Street, as the spread of the coronavirus disease (COVID-19) continues, in London, Britain Brittany, March 17, 2020. REUTERS / Henry Nicholls Join now for FREE unlimited access to Reuters.com Register April 15 (Reuters) – Medical device maker Thermo Fisher […]

Service business

Schneider Electric unveils power and cooling infrastructure “as-a-service” business

NaviX Solutions is designed to provide complete lifecycle management of enterprise power and cooling assets. Image: iStock/Yelantsevv Schneider Electric launched NaviX, a SaaS business model developed in partnership with the Singapore Economic Development Board, designed to incubate Singapore-based companies with global potential. NaviX Solutions provides comprehensive lifecycle management of enterprise power and cooling assets while […]

Service business

Learn about Kyndryl, IBM’s managed infrastructure services business

April 13, 2021 | Natalie Bannerman IBM has unveiled Kyndryl’s name for its independent company that will be created following the separation of its managed infrastructure services business by the end of the year. “Kyndryl evokes the spirit of true partnership and growth,” said Martin Schroeter, Kyndryl’s chief executive. “Customers around the world will know […]

Service business

Signet Jewelers Acquires Rocksbox Rental Subscription, Bringing Billion-Dollar Service Business Goal Closer

“Services are the glue that ties together a lifetime of customer engagement,” says Gina Drosos, … [+] CEO of Signet Jewelers. Getty For three years, Signet GIS Jewelers has been on a “Path to Brilliance”, the official name of its business growth strategy to build and strengthen its portfolio of brands including Kay, Zales, Jared, […]

Service sector

Prices are rising widely in the massive service sector and companies are able to pass on these higher prices

The whole mentality has changed. By Wolf Richter for WOLF STREET. Services represent about two-thirds of the economy. During the pandemic, discretionary services such as travel and entertainment have been hit hard, and consumer spending on services in February was still down 5.2% from a year ago. But the services sector is huge, ranging from […]

Service business

Promoting Your Service Business Online: Tips for Getting Found

If you’re a service provider, you likely experienced severe drops in your business revenue during the pandemic as everyone avoided being indoors for fear of contracting the deadly virus. With more people getting vaccinated every day, up to three-half million a day in the United States alone, you’ll probably want to start promoting your service […]

Service sector

Economic report of construction and service sector at record high

Economic indicators for industries such as construction are showing a “record high”. Construction was the fifth fastest growing sector in the report. “Demand for residential new home construction continues to outpace supply.” Construction companies reported the highest price increases for materials and services in March among 18 service industries. “All-time high” was the buzzword at […]