Hospitality Financial Leadership: Why Prioritizing Employee Development Has the Best ROI for Owners Too
David Lund | March 27, 2023
Hospitality Financial Leadership: Why You Need to Reconcile Your Credit Cards Every Day
David Lund | May 22, 2023
By David Lund The dreaded credit card reconciliation need not be such a big deal if we bite-size it. That is what this piece is all about: How and why you should balance your hotel credit cards daily. That is right – every day – and I mean you need to know the cards are balanced to three separate and connected points. First of all, just to properly date myself and reminisce just a little, I can remember mailing off the backs of the card imprints each day. I was working at the front desk, and we would separate the imprints by type and run a tape to balance to our front office Micros posting terminal. OMG, can you imagine? Then t...
AHLA Statement in Support of the Main Street Tax Certainty Act
AHLA | May 22, 2023
WASHINGTON (May 22, 2023) – American Hotel & Lodging Association (AHLA) President & CEO Chip Rogers is speaking out today in support of the Main Street Tax Certainty Act, which was introduced in the Senate by Sen. Steve Daines. “The Main Street Tax Certainty Act is a bipartisan effort to keep the Small Business Deduction from expiring in 2025. It would ensure permanent tax relief for millions of employers – including thousands of hotels – organized as sole proprietorships, S corporations, and partnerships,” said AHLA President & CEO Chip Rogers. “This critical legislation would provide hotel small business owner...
Agilysys Announces Fiscal 2023 Fourth Quarter Record Revenue of $52.9M and Full Year Record Revenue of $198.1M
Agilysys | May 17, 2023
Annual Revenue Includes Recurring Revenue of $118.3M and Subscription Revenue Growth of 27.5% Annual Record Adjusted EBITDA of $30.3M, Free Cash Flow of $27.2M and GAAP EPS of $0.49 Fiscal 2024 Annual Revenue Expected To Grow To $230M to $235M With Full Year Adjusted EBITDA of 13% ALPHARETTA, GA – May 17, 2023 - Agilysys, Inc. (NASDAQ: AGYS), a leading global provider of hospitality software solutions that deliver High Return Hospitality, today reported operating results for its fiscal 2023 fourth quarter and full year ending March 31, 2023. Summary of Fiscal 2023 Fourth Quarter Financial Results • Total net revenue increased 13...
Travel and Tourism Sector Deal Activity Down by 43% YoY in January-April 2023
GlobalData | May 11, 2023
A total of 219 deals* were announced in the global Travel and Tourism sector during January to April 2023, which is a 43% decline over 384 deals announced during the same period in 2022, finds GlobalData, a leading data and analytics company. Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Deal activity in the travel and tourism sector suffered a significant setback across several key markets and regions as deal-makers seemed to have become cautious amid recession fears, geopolitical tensions, and uncertain economic conditions.’ North America, the traditionally dominant region in terms of travel and tourism related deal ac...
HVS Webinar: Private Equity Steps Up Its Interest in Hotel Assets
Russell Kett | May 11, 2023
By Russell Kett Organised by HVS with, Bird & Bird, AlixPartners and EP Business in Hospitality, the latest in our series of webinars kicked off with positive feedback from an audience poll in which 41% of attendees said they expected investment in hotels to grow by 10% or more over the next 12 months with city centre, full service hotels and resort leisure hotels the sectors most likely to attract investor interest. AlixPartners’ managing director Graeme Smith outlined the significant funds being raised by private equity although the rising price of labour, energy and the cost of living had prompted investment activity to...
Arch Amenities Group Introduces Wage Insights, a Tool That Provides Salary and Wage Benchmarking Data for Hotels and Wellness Centers
Arch Amenities Group | May 9, 2023
ROCKVILLE, Maryland (May 9, 2023) – Arch Amenities Group, a full-service, global provider of wellness, amenity management and meeting services for commercial and residential properties, hotels, private clubs and pools, today announced the launch of its proprietary survey and salary benchmarking tool, Wage Insightssm. Wage Insights obtains and leverages data across the hospitality and wellness sectors to enable hotels and wellness centers to better formulate their employee compensation and growth strategies. Barry Goldstein, Arch Amenities Group chief executive officer, called the Wage Insights survey and reporting tools “some of the...
Choice Hotels International Reports First Quarter 2023 Results
Choice Hotels International, Inc. | May 9, 2023
ROCKVILLE, Md., May 9, 2023-- Choice Hotels International, Inc. (NYSE: CHH), one of the world's largest lodging franchisors, today reported its first quarter 2023 results. Highlights of first quarter 2023 results include: Total revenues reached $332.8 million for first quarter 2023, a first-quarter record and a 29% increase compared to the same period of 2022. Net income exceeded the top end of the company's guidance and reached $52.8 million for first quarter 2023, representing diluted earnings per share (EPS) of $1.02. As a result of one-time items, including Radisson Hotels Americas integration costs, and the timing of net r...
Hyatt Reports First Quarter 2023 Results
Hyatt Hotels Corporation | May 5, 2023
CHICAGO (May 4, 2023) - Hyatt Hotels Corporation ("Hyatt" or the "Company") (NYSE: H) today reported first quarter 2023 financial results. Highlights include: Net income was $58 million in the first quarter of 2023 compared to net loss of $73 million in the first quarter of 2022. Adjusted net income was $45 million in the first quarter of 2023 compared to Adjusted net loss of $36 million in the first quarter of 2022. Diluted EPS was $0.53 in the first quarter of 2023 compared to $(0.67) in the first quarter of 2022. Adjusted Diluted EPS was $0.41 in the first quarter of 2023 compared to $(0.33) in the first quarter of 2022. ...
IHG Shares Q1 2023 Trading Update
IHG Hotels & Resorts | May 5, 2023
Highlights Q1 group RevPARa +33% vs 2022, with Americas +18%, EMEAA +64% and Greater China +75% Q1 group RevPAR +6.8% vs 2019, with Americas +11.1%, EMEAA +9.7% and Greater China (9.1)% Average daily rate +11% vs 2022, +10% vs 2019; occupancy +10%pts vs 2022, (2)%pts vs 2019 Gross system size growth +5.8% YOY, +0.9% YTD; opened 8.4k rooms (45 hotels) in Q1, ahead of 2022 Net system size growth +4.2% YOY on an adjustedb basis, +0.4% YTD Global system of 915k rooms (6,179 hotels); 66% across midscale segments, 34% across upscale and luxury Signed 16.5k rooms (108 hotels) in Q1, in-line with 2022; global pipeline of 287k...
Marriott International Reports First Quarter 2023 Results and Raises Full Year Outlook
Marriott International, Inc. | May 2, 2023
Marriott International, Inc. (NASDAQ: MAR) today reported first quarter 2023 results. Anthony Capuano, President and Chief Executive Officer, said, “We are off to a great start in 2023. First quarter worldwide RevPAR grew 34 percent year over year, with meaningful gains in both occupancy and average daily rate. International markets were particularly robust, with RevPAR growth of 63 percent. The lifting of travel restrictions throughout Asia Pacific, particularly in Greater China, significantly boosted first quarter demand in the region. “In the U.S. & Canada, we saw solid demand across the leisure and group segments in the...
Wyndham Hotels & Resorts Reports Strong First Quarter 2023 Results
Wyndham Hotels & Resorts | April 27, 2023
Company Grows Development Pipeline by 11% and Global RevPAR by 12%; Raises Full-Year 2023 Outlook PARSIPPANY, N.J., April 27, 2023 -- Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months ended March 31, 2023. Highlights include: Global RevPAR grew 12% compared to first quarter 2022 in constant currency. U.S. RevPAR grew 4% compared to first quarter 2022. System-wide rooms grew 4% year-over-year, including 1% of growth in the U.S. and 9% of growth internationally. Development pipeline grew 11% year-over-year to 226,000 rooms, and signings increased 7%, excluding ECHO Suites Exte...
Hilton Reports 2023 First Quarter Results; Raises Full Year Outlook
Hilton | April 26, 2023
MCLEAN, VA - Hilton Worldwide Holdings Inc. ("Hilton" or the "Company") (NYSE: HLT) today reported its first quarter 2023 results. Highlights include: Diluted EPS was $0.77 for the first quarter, and diluted EPS, adjusted for special items, was $1.24 Net income was $209 million for the first quarter Adjusted EBITDA was $641 million for the first quarter System-wide comparable RevPAR increased 30.0 percent, on a currency neutral basis, for the first quarter compared to the same period in 2022 System-wide comparable RevPAR increased 8.0 percent, on a currency neutral basis, for the first quarter compared to the same period in 2...
Hospitality Financial Leadership – Why Technology Has the Hotel Business Bootstrapped
David Lund | April 24, 2023
By David Lund Bootstrapping is a statistical metric that uses random sample replacements. That definition is not for me, so bootstrapping also has a broader slang meaning that most people get. It means you are stuck or at least unable to take big strides to alleviate or remove the problem that is literally at your feet. In the hotel world it is the operational technology stack that has us all bootstrapped. That is what this piece is all about. How we find ourselves in this predicament and how we might be able to literally run away from it. To understand and begin to solve this problem we need to look at our structure. In the broad...
Travel and Tourism Sector Deal Activity Down 40.7% YoY in Q1 2023, Finds GlobalData
GlobalData | April 17, 2023
A total of 179 deals* were announced in the global Travel and Tourism sector during the first quarter (Q1) of 2023, which is a 40.7% decline compared to the announcement of 302 deals during the same period in 2022, according to GlobalData, a leading data and analytics company. All the deal types under coverage witnessed a considerable year-on-year (YoY) decline in deal volume in Q1 2023. The numbers of merger & acquisitions (M&A), venture financing, and private equity deals fell by 42.9%, 29.4% and 50% during Q1 2023 compared to Q1 2022, respectively. Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Deal activity in t...
Thynk Raises $13 Million of Series A Funding to Drive Innovation in Verticalized CRM for the Hospitality Industry
Thynk | April 13, 2023
End-to-end provider of multi-property sales and operation solutions earns Series A funding for further investment in accelerated product development and global expansion strategies. Brussels & New York - April 13th, 2023 – Thynk, a global provider of advanced technology solutions for data-driven hotel sales and operations management, today announced details on its latest successful round of investment, resulting in $13 million received in Series A funding. The injection of capital combined with Thynk’s impressive revenue growth will further fuel the company’s accelerated R&D efforts as well as its ongoing global expansion, wi...
What Opportunities Will You Find at Meet the Money?
Jim Butler | April 6, 2023
By Jim Butler and the Global Hospitality Group The energy is building as we prepare for Meet the Money’s return in May! Our registrants can look forward to an exciting conference structured around networking, dealmaking, and gathering insight from the industry’s best minds. There are plenty of opportunities in today’s hospitality industry for those seeking them, and Meet the Money is an ideal place to start looking. Who will you meet, and what possibilities will you find? Hotel owners, operators, developers, lenders and investors will come together at this year’s conference to build networks, resolve challenges, find financin...
She Has a Deal Announces 2023 Pitch Competition Finalists
She Has a Deal | April 6, 2023
McLean, Va., April 6, 2023 — Officials of She Has a Deal today announced the five finalist teams of the Early Career track selected to advance to the final round of SHaDPitch 2023. The annual hotel investment pitch competition allows teams of early career women to compete for the prize of $50,000 of equity in SHaD’s Prosperity Fund I, following the conclusion of a virtual, preliminary round of pitching. The goal of She Has a Deal is to increase the number of women owning and developing hotels. The organization is an ecosystem that offers inspiration and education through its EdTech platform to channel the power of collaboration and men...
H&LA’s Takeaways From the Hunter Hotel Investment Conference
Adam Zarczynski | March 31, 2023
By Adam Zarczynski, CHIA H&LA’s Adam Zarczynski attended the Hunter Hotel Investment Conference in Atlanta in March. Here are some key highlights from the conference: Optimism could be found, although many leaders cautioned the industry is still facing significant challenges. While hotels continue to achieve strong KPI’s in many markets, inflation and high interest rates have slowed down the construction pipeline in recent months. Additionally, hotel sales activity has also been impacted as sellers continue to search for strong returns and buyers are looking to acquire assets at lower prices due to the issues with financing. O...
Meet the Money 2023 Program Now Available!
Jim Butler | March 27, 2023
By Jim Butler and The Global Hospitality Group Hotel Lawyers | Authors of www.HotelLawBlog.com The Meet the Money program is now available on MeetTheMoney.com – take a look and see who’s speaking and what topics they’ll be exploring. Meet the Money speakers don’t just come to the conference to share their perspectives; they also come to network with attendees. You can develop relationships, explore partnerships and ask questions one-on-one with our expert panelists and presenters, setting up opportunities that will take you through 2023 and beyond. This year’s program will include: • Investment boot camps covering d...
Hospitality Financial Leadership: Why Prioritizing Employee Development Has the Best ROI for Owners Too
David Lund | March 27, 2023
By David Lund A lot has been said about why we have such a labor crisis in hospitality. Some would say it is no wonder because we have forgotten – or better still allowed – the forces that be to drive the agenda around how we invest in and manage our hotels. So how did we get into this mess, what is the solution, and the best part – how can it pay off? First of all, to understand how to fix a problem one person once said you need to understand what the problem is and why we have that problem in the first place. The problem is people do not want to work for a company, owner or brand that is not loyal to them. What our industry d...
Ray Regan Joins Paramount Lodging Advisors Team
Paramount Lodging Advisors | March 23, 2023
ALBUQUERQUE, NM – The Paramount Lodging Advisors (PLA) team is pleased to announce Ray Regan as their newest Associate. Ray is joining fellow PLA team member, Michael Sheppard in the New Mexico office and will be focusing on the southwestern region of the United States. Ray has a successful background in both individual and portfolio hospitality and commercial transactions in the southwestern market. “I am thrilled to extend the invaluable experience and resources of the Paramount Lodging Advisors platform to the benefit of existing and prospective clients across New Mexico and the broader SW region,” stated Regan. Ray can be c...
Baird/STR Hotel Stock Index Fell 2.5% in February
Baird | March 20, 2023
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index fell 2.5% in February to a level of 5,541. “Hotel stocks – just like the broader market – pulled back in February as the focus turned to earnings and initial 2023 outlooks,” said Michael Bellisario, senior hotel research analyst and director at Baird. “The global hotel brand stocks, while down slightly during the month, outperformed the S&P 500 on the heels on strong fourth quarter earnings reports and guidance that matched expectations; hotel REITs were weaker and relatively underperformed as investors focused on somewhat mixed fourth quarter earnin...
C-PACE Update: Global Hospitality Group® Completes $172M in C-PACE Transactions for Hotel and Other Real Estate Projects in 2022
Jim Butler | March 15, 2023
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com The Global Hospitality Group of Jeffer Mangels Butler & Mitchell LLP (JMBM) is pleased to announce the completion of $172 million in C-PACE (Commercial Property Assessed Clean Energy) financing transactions for the year 2022. This total includes over $97 million in hotels and condos, more than $58 million in multifamily, and $16 million in senior living facilities. C-PACE is a low-cost, nonrecourse financing that creates a lien on the real property and is repaid through property taxes. It first emerged as a technique for funding energy...
Aptech’s Enterprise Accounting Software Scores BIG With Hoteliers Across All Segments
Aptech Computer Systems Inc. | March 14, 2023
Users rank PVNG by Aptech 98 out of 100 for ease of use, ROI, implementation and customer support PITTSBURGH, March 14, 2023 — Aptech was a finalist in the Hotel Tech Report “Best Finance & Accounting Software” 2023 popularity index. Although the provider of hospitality financial management solutions narrowly missed 1st place by a mere 2 points, the company said more than 100 reviews by users of its PVNG enterprise accounting solution say it is No. 1. “We certainly feel like winners, especially since our customers made it abundantly clear that in their eyes Aptech is ‘the best’ hotel accounting software on the market,”...
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