Why Rate Parity Still Has To Be “The Law of the Land” in Hospitality?
Max Starkov | November 14, 2023
By Max Starkov There was a recent discussion on LinkedIn about the need for maintaining rate parity in hospitality and its implications. Just to clarify for the non-revenue management folks here, Rate Parity traditionally means maintaining the same publicly available rate for the same room/same stay across all public distribution channels i.e. channels available to any member of the public that is not a loyalty member or member of some guest appreciation or reward program. Rate Parity is not a new online policy specifically designed for the OTAs. It existed long before the “commercial internet" came into being and there was only ...
How to Make the 2024 Hotel Budgeting Process as Smooth and Painless as Possible
HotStats | November 6, 2023
By Jeannette King, Marketing Manager at HotStats For hotel owners and operators alike, the annual budget is often a grueling and time-consuming process. This year, with persistent inflation, added pressures on cost control, and uncertainty about the economy, the process is as fraught as ever. Are there ways to make the 2024 budgeting process more streamlined and efficient? For insights and advice, HotStats reached out to leading hospitality experts around the world. 1. Start Early but Submit Late Hoteliers often complain that the budgeting process seems to start earlier every year. This is especially true for large hotel groups with mult...
Dr. Donald W. Wise and Turnbull Capital Group Recognized by London-Based Revenue-Hub
Turnbull Capital Group | November 2, 2023
Turnbull Capital Group (“TCG”) is pleased to announce that Co-founder and Chairman Dr. Donald W. Wise has been honored by London-based Revenue Hub for the third time as their featured hospitality investment banking speaker on the state of the industry. Please watch our most recent interview posted with London-based Revenue-Hub Coffee Time Chat (taped just days before the terrible events in Israel). Dr. Wise has been named by Real Estate Forum magazine as one of Rainmakers in Debt & Equity and has been a recent speaker at the monthly Mastermind Hospitality Zoom meetings. Dr. Wise authors weekly electronic mail updates ...
Accor Reports Third-Quarter 2023 Revenue of €1,286 Million Up 13% Like-for-Like
Accor | October 27, 2023
REVPAR UP 15% COMPARED WITH Q3 2022 UPGRADED REVPAR GROWTH GUIDANCE FOR 2023 EBITDA EXPECTED TO IMPROVE AT BETWEEN €955 MILLION AND €985 MILLION Sébastien Bazin, Chairman and Chief Executive Officer of Accor, said: “The Group’s strong performance during the quarter illustrates once again the strength of business momentum in all of our markets, notably in Asia, and for the brands in our two segments: Premium, Midscale and Economy, on the one hand, and Luxury and Lifestyle on the other. For Accor, this is the 6th consecutive quarter of growth since the return to post-pandemic business levels. These positive trends and our strict ...
Wyndham Hotels & Resorts Reports Third Quarter 2023 Results
Wyndham Hotels & Resorts | October 27, 2023
Company Raises Full-Year 2023 EPS Outlook Grows Development Pipeline by Another 12% PARSIPPANY, N.J., Oct. 27, 2023 -- Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months ended September 30, 2023. Highlights include: Global RevPAR grew 3% compared to third quarter 2022 in constant currency. System-wide rooms grew 3% year-over-year. Development pipeline grew 4% sequentially and 12% year-over-year to a record 237,000 rooms. Signed over 230 contracts, an increase of 8% year-over-year, including 60 new construction projects for ECHO Suites Extended Stay by Wyndham. Returned $134 million to sh...
Is the Annual Budget Process Still a Necessary Evil for Hotels?
HotStats | October 26, 2023
By Kathrin Cockhill For hotels, the annual budget process is like a high-stakes poker game in which the owners keep their cards close to their chest and the operators try to guess what cards they’re holding and if they’re bluffing. By the time everyone shows their hands and the year kicks in, the game has often changed significantly, and all bets are off. Does it have to be this way? Today, more data than ever is available to enable operators to budget and forecast based on current conditions rather than rely on outdated projections. But will this serve the needs of owners? For insights, HotStats reached out to hospitality leader...
Hilton Reports Third Quarter Results
Hilton | October 25, 2023
MCLEAN, VA - Hilton Worldwide Holdings Inc. ("Hilton" or the "Company") (NYSE: HLT) today reported its third quarter 2023 results. Highlights include: Diluted EPS was $1.44 for the third quarter, and diluted EPS, adjusted for special items, was $1.67 Net income was $379 million for the third quarter Adjusted EBITDA was $834 million for the third quarter System-wide comparable RevPAR increased 6.8 percent, on a currency neutral basis, for the third quarter compared to the same period in 2022 System-wide comparable RevPAR increased 11.4 percent, on a currency neutral basis, for the third quarter compared to the same period in 2...
Sonnenblick-Eichner Company Arranges First Mortgage Financing for The Lodge at Tiburon and Toll House Hotel Los Gatos, California
Sonnenblick-Eichner Company | October 24, 2023
Beverly Hills, CA (October 24, 2023) -- Sonnenblick-Eichner Company has arranged first mortgage financing for The Lodge at Tiburon and Toll House Hotel Los Gatos. The 5-year non-recourse floating rate loan pays interest-only for the entire term and provided proceeds to pay off a maturing loan. The new loan also provided for a SOFR floor of 3.75% equating to approximately 155 basis points below the SOFR index at closing allowing the borrower to realize a lower cost of capital if interest rates decline. The 104-room The Lodge at Tiburon and the 115-room Toll House Hotel Los Gatos are boutique hotels located in downtown Tiburon, a coastal ...
1
Technology
2
Appointments/People on the Move
3
Operations
4
Industry Happenings
5
All Things Independent
Today's News
The Evolving Landscape of Hotel Reviews: Insights and Implications
WTTC Statement on the Death of Henry Kissinger
U.S. Hotel Results for Week Ending 25 November
LuxUrban Hotels to Operate Two New Four-Star Boutique Hotels in New York City
As the first news aggregate for the hotel industry, Hotel-Online is the industry’s must-read daily news source for everything hotel curated for busy professionals. Sign up today for industry news delivered to your inbox.