GCommerce Partners With Jonas Chorum as Its Preferred Metasearch Provider
Jonas Chorum | April 17, 2024
Last 30 Days
3 in 5 Younger Travelers Go the Extra Mile for Live Events, AAA and Bread Financial Survey Finds
AAA | April 26, 2024
New study shows Gen Z and Millennials are willing to travel the farthest and spend the most to attend destination events COLUMBUS, OH (April 26, 2024) – A new study from AAA and Bread Financial finds younger generations are driving a surge in live event travel. Approximately three in five Gen Z (65%) and Millennial (58%) respondents confirmed they have traveled in the past 12 months and/or plan to travel in the next 12 months for in-person events like concerts, sporting events, comedy shows, and book readings that are more than 50 miles from home . This compares to 43% of Gen X and just 27% of Baby Boomers. Going the Extra Mile and Spen...
Fewer Global Markets Recording RevPAR Growth, Japan a Big Exception
CoStar Group | April 26, 2024
Analysis by Eddie Yeung Note: All financial figures presented in US$. STR's global "bubble chart" update for the four weeks ending 6 April 2024 shows 60% of markets with year-over-year growth in revenue per available room (RevPAR). That volume was noticeably less than the 77% of markets with growth in our last update, showing more of the world has reached a normalization period. China contributed the most to the decline against 2023 levels, with 90% of its markets experiencing lower performance compared to last year. This further underscores the slowdown in the country's economy. When excluding China, 67% of global markets recorded ...
Grand Hyatt Atlanta in Buckhead Launching Multi-Phased Renovation
Grand Hyatt | April 26, 2024
ATLANTA (April 26, 2024) –– Nestled in the heart of the vibrant Buckhead neighborhood, Grand Hyatt Atlanta, in Buckhead announces an extraordinary transformation of its legendary premises. This multi-phased renovation will revolutionize the iconic 25-story landmark. Set for a grand reveal in early 2025, this extensive project will enhance every aspect of the hotel, from the luxurious guest rooms and dynamic meeting spaces to the arrival experience with the newly conceptualized lobby lounge, ushering in a new era of unparalleled luxury and elegance. As a beacon of sophistication within Atlanta's bustling business and shopping district...
WoodHouse Set to Open The Hotel at The Moore in Miami’s Design District
WoodHouse | April 26, 2024
(MIAMI, FL – April 26, 2024) – Today, WoodHouse announced that The Moore in the Miami Design District has officially begun its re-opening. The iconic landmark enters its next century as a new cultural destination, complete with a private members club, public restaurant, boutique hotel, executive offices and gallery space. One of the most recognizable façades in the city, The Moore was built in 1922 during the 1920s Florida Land Boom on a former pineapple farm and estate, and would influence the development and design of the surrounding area for 100 years to come. Occupying a nearly 90,000-square-foot space, each floor of The Moore...
Embassy Suites by Hilton Deerfield Beach Resort & Spa Unveils Multimillion-Dollar Property Renovation
Embassy Suites by Hilton Deerfield Beach Resort & Spa | April 26, 2024
DEERFIELD BEACH, Fla. (April 26, 2024) – Embassy Suites by Hilton Deerfield Beach Resort & Spa is ready to unveil the completion of its multi-million-dollar property renovation, just in time to welcome summer travelers. Located between the popular city centers of Boca Raton and Fort Lauderdale, Deerfield Beach is a peaceful, beachside getaway for locals and tourists alike. The extensive renovation includes a redesign of public spaces, more than 11,700 sq. ft. of newly renovated event space, an aesthetic refresh of guestrooms and décor, and a rebranding of its signature dining destination, Beach Terrace Restaurant. “We are absolu...
IHG Hotels & Resorts and Brigade Group To Bring the InterContinental Brand to Hyderabad
IHG Hotels & Resorts | April 26, 2024
Bengaluru, April 26, 2024: IHG Hotels & Resorts, a global hospitability company, and Brigade Group, renowned property developer in India have announced the signing of a management agreement to debut the InterContinental brand in Telangana − InterContinental Hyderabad Neopolis. Slated to open in 2029, this newly constructed hotel is expected to be an integral part of Brigade’s upcoming, mixed-use development. The world-renowned brand, InterContinental has over 220 open hotels across more than 60 countries. Commemorating its 75th Diamond Anniversary in 2021, InterContinental continues to uphold its esteemed status as the world's fi...
A New Approach to Hotel Management Fees
Marcus R. Lee | April 26, 2024
By Marcus R. Lee In the ever-evolving hospitality industry, the question of how to effectively compensate hotel operators remains crucial. While the basic premise of paying managers for their management skills holds true, the prevalent incentive fee structures may no longer adequately align with market realities, particularly for owners. Management Fees Breakdown Hotel management companies earn fees through three main avenues: In the typical hotel management agreement, hotel management companies are typically paid a base fee equal to 2.0% to 4.0% of total operating revenue—3.0% being the most common—plus an incentive, typically an...
Wyndham Hotels & Resorts Reports Strong First Quarter Results
Wyndham Hotels & Resorts | April 26, 2024
PARSIPPANY, N.J., April 26, 2024 -- Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months ended March 31, 2024. Highlights include: Global RevPAR grew 1% in constant currency and ancillary revenues grew 8% compared to first quarter 2023. System-wide rooms grew 4% year-over-year. Opened over 13,000 rooms, representing a year-over-year increase of 27%. Awarded 171 development contracts, an increase of 8% year-over-year. Development pipeline grew 1% sequentially and 8% year-over-year to a record 243,000 rooms. Entered upscale extended stay segment through a strategic relationship with WaterW...