The Top 7 Pain Points in Hospitality Procurement and How to Overcome Them
Johannes Vocke | July 24th, 2024
Navigating the Complex World of Conversational AI – Part 2
Travel Outlook, the premier hotel call center™ | July 16th, 2024
Kimpton Claret Hotel Opens in Denver’s Belleview Station Neighborhood
IHG | July 19, 2024
(DENVER, CO) – July 19, 2024 – Kimpton Hotels & Restaurants, part of IHG Hotels & Resorts' luxury and lifestyle portfolio, announced that Kimpton Claret Hotel officially opens its doors to guests today. Anchoring the burgeoning lifestyle scene of the Belleview Station neighborhood, Kimpton Claret Hotel is a brand new, pioneer property for residents and visitors seeking a fresh yet familiar hospitality experience in South Denver. “We are excited to open our doors as the first lifestyle boutique hotel in this area,” said Kimpton Claret General Manager Keith Siebenaler. “Belleview Station is a destination on the rise as ...
Bob W Forms £400M Joint Venture With OCIM To Convert Hotels and Offices Into Serviced Apartments
Bob W | July 19, 2024
Major joint venture established to raise capital for the acquisition and conversion of obsolete assets into serviced apartments Joint venture is targeting a GDV in excess of £400 million for initial development pipeline Partnership is targeting UK and key European markets to deliver up to 2,000 apartments exclusively for Bob W brand Comes amid growing demand for more flexible, high-quality accommodation options LONDON 19 July 2024 – A new joint venture between Bob W, the tech-powered hospitality operator, and Osborne+Co Investment Management (OCIM), the in-house investment management arm of global build-to-suit developer a...
President and CEO of HSMAI, Bob Gilbert Announces Retirement
HSMAI | July 19, 2024
The Esteemed HSMAI Leader Will Retire After More Than 30 Years of Dedicated Service FOR IMMEDIATE RELEASE: McLean, VA (July 19, 2024) – Following 30 years of executive leadership for the Hospitality Sales and Marketing Association International (HSMAI) Americas, HSMAI Foundation and HSMAI Global, the organization is announcing the retirement of President and CEO, Bob Gilbert. A cherished and admired leader in the global hospitality industry, Gilbert has accelerated his retirement plan as a result of a serious health issue. “It is with the utmost respect that we announce today the retirement of Bob Gilbert from his role of Pre...
Dar Global Collaborates With The Trump Organization To Develop Trump Tower Dubai
July 19, 2024
DUBAI, UAE, July 19, 2024 -- Dar Global, the luxury international real estate developer, has announced a prestigious collaboration with The Trump Organization to establish the iconic Trump Tower Dubai. This extraordinary development, situated in a prime location in Dubai, is set to establish new standards in luxury hospitality and residential living in the region. Both the location and design will be unveiled towards the end of 2024. Trump Tower Dubai, a beacon of elegance and sophistication, promises to captivate and thrill with its unparalleled offerings. The development will include the renowned Trump Hotel and branded residential ...
An Immediate Way to Drive Revenue to Your Hotel’s Top and Bottom Lines
Don Farrell | July 19, 2024
By Don Farrell Who wouldn’t want to make a few hundred thousand more in immediate room revenue and see most of that go to the bottom line? In fact, it may be the largest account your hotel can go after, particularly if you are a focused service property. Where can you find this low-lying fruit and how can you harvest it? Your Single Largest Account is at your Front Desk by Converting More Reservation Inquiries And this is the best form of revenue…..the single room requests that come into your front desk in the form of phone inquiries and walk-ins. Imagine what losing one of your top accounts would look like. With front desk reser...
USALI Global Finance Committee Members Provide Hotel Reporting Guidance Following New California Bill Banning Hidden Fees
HFTP | July 19, 2024
Written by HFTP Publications — Contributor “Whether buying tickets to a concert or sporting event or booking a vacation or a hotel, Californians deserve to know exactly how much they’re being asked to pay, and not be surprised later by hidden junk fees,” said California Senator Nancy Skinner (D-Berkeley) in regard to a proposed bill she coauthored called Senate Bill 478 (SB 478), which has since been enacted and just took effect in the state earlier this month. Designed to protect consumers from hidden fees, businesses and sellers must, as of July 1, 2024, list the price of any good or service to include all mandatory charges ...
The Americas and Asia Pacific Show Growth in Hotel Pipeline Activity
CoStar Group | July 19, 2024
WASHINGTON – 19 July 2024 – Two of the world regions, the Americas and Asia Pacific, showed a year-over-year increase in hotel pipeline activity at the end of the second quarter, according to June 2024 data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. June 2024 (% change in comparison with June 2023): Europe In construction: 165,858 rooms (-2.4%) Final Planning: 93,241 rooms (-20.9%) Planning: 160,651 rooms (+8.0%) Total Under Contract: 419,750 rooms (-3.8%) Among countries in the region, Germany (27,302) led in construction act...
Leading Change Effectively – Insights From Top Hospitality Leaders
EHL | July 19, 2024
Dr. Stefano Borzillo, Dr. Steffen Raub Welcome to a collection of insights and learnings based on the lived experiences of some of the many hospitality managers encountered at EHL. Based on practicing a set of key principles and behaviors, becoming an effective change leader is a skill that develops over time. The need for constant change It has become almost commonplace to state that change is everywhere around us. And yet, it is true that in complex and challenging business contexts few organizations can be successful without continuously questioning and adapting their way of doing things to the changing realities of the industry aroun...
Travel and Tourism Sector Deal Activity Down by 12.6% YoY in H1 2024, Finds GlobalData
GlobalData | July 19, 2024
A total of 347 deals (comprising mergers and acquisitions (M&A), private equity, and venture financing deals) were announced in the global travel and tourism sector during the first half (H1) of 2024, which was a year-on-year (YoY) decline of 12.6% compared to the 397 deals announced during the same period in the previous year, according to GlobalData, a leading data and analytics company. Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Even though there was a decline globally due to a dent in deal-making sentiments, the trend was a mixed bag across different markets and regions, with some countries contributing to the decl...
The Cordish Companies Celebrates ‘Topping Off’ for New $270+ Million Live! Casino & Hotel Louisiana Project
Live! Casino & Hotel Louisiana | July 18, 2024
World-Class Gaming, Hotel, Dining, and Entertainment Destination to Feature First Land-Based Casino in Shreveport-Bossier Market New Development Projected to Generate More Than $200 Million in City and State Gaming Tax Revenue in First Five Years of Operation; Create Approximately 1,500 New Jobs for the Region Property Will Feature 30,000 SF of Best-in-Class Dining and Entertainment Venues Bossier City, LA (July 18, 2024) – LRGC Gaming Investors, LLC, an affiliate of The Cordish Companies, today marked a significant milestone in the construction of the first land-based casino in the Shreveport-Bossier market during the “TOPPING OF...
Jeffery Young Joins Watermark Beach Resort as Executive Chef
Watermark Beach Resort | July 18, 2024
OSOYOOS, BC, July 18, 2024 | Watermark Beach Resort is pleased to welcome Jeffery Young as executive chef at the Osoyoos resort. Young brings a wealth of experience gained over three decades in the hospitality sector, spanning renowned establishments across Canada, including positions at the Four Seasons Hotel and Resorts, Fairmont Hotels, and acclaimed wineries such as Summerhill Pyramid Winery. Young’s culinary career has humble beginnings, with his first position as a kitchen dishwasher at a suburban Vancouver country club, where he was inspired to pursue Vancouver Community College's Culinary Arts program immediately after high schoo...
Yoo2 Rio de Janeiro, Tapestry Collection by Hilton Opens in Brazil
Tapestry Collection by Hilton | July 18, 2024
SAO PAULO, Brazil – Today Hilton (NYSE: HLT) announced the debut of Yoo2 Rio de Janeiro, Tapestry Collection by Hilton marking the company’s 20th hotel in the country and Tapestry’s first property in Rio de Janeiro. Owned and managed by ICH/Intercity Hotéis, the 135-room hotel is located in the trendy Botafogo neighborhood and features spectacular views of Sugar Loaf Mountain and Christ the Redeemer. This property builds on Hilton’s rapid expansion in the market where it plans to introduce two new brands in the upcoming years. “We are delighted to welcome guests to experience this renowned destination through the hotel’...
Riu Plaza Chicago Opens Its Doors in the Heart of the Magnificent Mile Shopping District
RIU Hotels & Resorts | July 18, 2024
Palma de Mallorca, 18 July 2024.- RIU Hotels & Resorts has reached yet another milestone in its international expansion with the opening of the Riu Plaza Chicago. The new four-star establishment with 390 rooms is strategically located in the heart of Chicago's world-famous Magnificent Mile shopping district, and from September it will offer guests and visitors alike panoramic views of the city from the 27th floor of the building in the hotel’s bar, The Rooftop. This opening in a newly built skyscraper not only places the RIU brand in a capital city with one of the most competitive real estate markets in the world, but is also an ...
Raines Adds Sea Palms Resort in St. Simons Island to Its Management Portfolio
Raines | July 18, 2024
FLORENCE, SC — July 18, 2024 — Raines, a leading hospitality management, development, and investment organization, has welcomed the Sea Palms Resort in St. Simons Island, GA, to its management portfolio. This addition, owned by RREAF Holdings, is now part of Woven by Raines, the company’s lifestyle division, and includes a golf course, marking the second golf course managed by Raines. Sea Palms Resort, nestled in an upscale resort community at 515 North Windward Drive, offers a unique blend of luxury and leisure. St. Simons Island, recognized as one of the most popular island destinations in the world in 2023 by Travel & L...
Texas Western Hospitality Opens a Home2 Suites by Hilton in Laredo, Texas
Home2 Suites by Hilton | July 18, 2024
Laredo, TX – July 18, 2024 – Texas Western Hospitality of Addison, Texas today announced the opening of their newest property, Home2 Suites by Hilton in Laredo, Texas. Designed for travelers who want to maintain their normal routine, the hotel features 107 suites and a range of value, tech-focused and eco-conscious amenities. General Manager Rejino Perez leads the management team at the Home2 Suites by Laredo North for Texas Western Hospitality. Located at 1420 Hospitality Drive near the junction of I-69 and I-35 and nine miles from Laredo International Airport, Home2 Suites by Hilton Laredo North offers guests convenient access to Port...
Chatham Bars Inn Welcomes Michael Briggs as Managing Director
Chatham Bars Inn | July 18, 2024
Chatham, MA (July 18, 2024) – Today, Chatham Bars Inn, Cape Cod’s storied oceanfront luxury resort for over a century, announces the appointment of Michael Briggs as Managing Director. A proverbial homecoming, Briggs returns to the Forbes Five-Star resort with familiarity, as he previously held various leadership positions at Chatham Bars Inn for nearly a decade. “We are thrilled to welcome Michael back to Chatham Bars Inn,” said Rikki Boparai, Senior Vice President of Operations for Pyramid Global Hospitality. “His experience speaks for itself. We are confident that his dynamic and dedicated leadership will contribute to the Inn...
InnVentures Adds Two Hotels to Management Portfolio
InnVentures | July 18, 2024
Embassy Suites Portland Oregon and Seattle Washington Add to InnVentures’ Growing, National Portfolio July 16, 2024 (New York, NY) - InnVentures, a division of Highgate that specializes in the management of premium select-service and extended stay hotels, announced today the addition of two hotels to its portfolio. InnVentures will assume management of the Embassy Suites Portland Washington Square, Oregon and Embassy Suites Seattle Bellevue, Washington. The hotels represent 596 keys, the company’s third and fourth Embassy Suites under management, and bring the total number of properties managed by InnVentures to 85. These additions to...
Braemar Hotels & Resorts Closes Sale of Hilton La Jolla Torrey Pines for $165M
Braemar Hotels & Resorts | July 18, 2024
DALLAS, July 18, 2024 -- Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") today announced that it has closed on the previously announced sale of the Hilton La Jolla Torrey Pines for $165 million ($419,000 per key). Including anticipated capital expenditures of $40 million, the sale price represents a 7.2% capitalization rate on net operating income for the trailing twelve months ended March 31, 2024. The Company continues to evaluate the sale of two more hotels, subject to market conditions, to be completed in 2024 and 2025, respectively. "We are pleased to announce the closing of the sale of the Hilton...
Don’t Throw Fellow Employees Under the Bus
Shep Hyken | July 18, 2024
By Shep Hyken I couldn’t hold back. I told an employee to stop complaining about her fellow employees in front of us, her customers. Here’s the story. My wife and I were at a restaurant. The server seemed pleasant and professional, but as our food was delivered, we saw a different side of her. There was a mistake in the order. The side dishes we received were not the ones we chose. I didn’t think it would be a big deal. She could either take our meals back to the kitchen or let us keep our meals and bring out the side dishes we ordered. But to the server, it was a big deal. She started to complain about how this happens “...
U.S. Hotel Construction Activity Highest Since February 2023
CoStar Group | July 18, 2024
WASHINGTON – 18 July 2024 – The volume of U.S. hotel rooms under construction reached its highest level in 16 months, according to CoStar’s latest June 2024 data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. U.S. Hotel Pipeline June 2024 (percentage change from June 2023) In construction: 157,713 rooms (+5.5%) Final Planning: 266,619 rooms (+9.8%) Planning: 333,827 rooms (+38.7%) “The number of rooms in construction has grown year over year for four consecutive months,” said Isaac Collazo, STR’s VP, analytics. “While upscale and upper m...
U.S. Hotel Results for Week Ending 13 July
CoStar Group | July 18, 2024
WASHINGTON – 18 July 2024 – The U.S. hotel industry reported higher performance results than the previous week but lower comparisons year over year, according to CoStar’s latest data through 13 July. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 7-13 July 2024 (percentage change from comparable week in 2023): Occupancy: 69.2% (-3.7%) Average daily rate (ADR): US$158.21 (-1.5%) Revenue per available room (RevPAR): US$109.51 (-5.2%) Among the Top 25 Markets, Houston saw the highest year-over-year increases in each of the three key performance met...
Jacksonville, FL Supports a Robust Hotel Development Pipeline Despite Economic Uncertainty
Hannah McManus | July 18, 2024
By Hannah McManus While many U.S. markets have experienced a slowdown in hotel development amid rising construction costs, increasing financing costs, and general uncertainty, the greater Jacksonville market area has continued to support a robust hotel development pipeline. Factors contributing to this growth include ongoing infrastructure projects in the market, such as the JAXPORT dredging project and Interstate 295 expansion; the ongoing work of the Jacksonville Downtown Investment Authority (DIA) to broaden the city’s appeal as an international business destination; and the availability of land suitable for development. Thus, ...
Upward Climb With Uphill Struggles: 2024 Deloitte Corporate Travel Study
Deloitte | July 18, 2024
Amid steady corporate travel growth, companies are challenged to balance a need for more face-to-face client interaction with steep pricing and persistent environmental impact Corporate travel outlook While leisure travelers returned in a big way to airports, hotels, and vacation rentals beginning in the summer of 2021,1 corporate travel has been slower to return post–COVID-19 pandemic. Caution—initially about health, and then about financial costs and environmental impact—led most companies toward gradual returns to the road.2 New structural realities of working life have also curtailed the need to travel, with more home-centered d...
AI’s Impact on Hotels
CBRE | July 18, 2024
By Rachael Rothman, Jack Corgel, and Christine Bang Artificial Intelligence (AI) and technology enhancements for hotels promise enhanced customer service, higher margins and expanded research and booking, with improved experiences for guests. Of equal importance is the likelihood that AI and broader technology improvements will materially shift the relationship between hotel brands, third-party management companies and hotel owners, as well as the relationship between the online travel agents (OTAs), metasearch platforms and the brands, owners and managers. Key Takeaways Potential implications of artificial intelligence and technology en...