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Hotel Investment in the Alps Heats Up
JLL | March 26, 2024
Climate change is driving record transaction levels in high-altitude, luxury hotels Long famed for its ski resorts, mountain towns in the French Alps have recently seen an uplift in investor interest. The Savoie and Haute-Savoie regions alone have seen hotel transaction volumes double over the past two years, breaking records with more than €800 million ($875 million) of hotel deals closed, JLL data shows. “Due to the warming climate, and limited new supply of ski resorts, more snow-sure locations at higher altitudes are commanding premium values,” says Matthieu Subit, JLL’s Vice President of Hotels and Hospitality for EMEA Cap...
Hotel Brands Check Into New Verticals
February 29, 2024
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Global Hotel Investment Volume Will Accelerate in 2024, Exceeding the Previous Year by 15% to 25%
JLL | January 24, 2024
JLL’s 2024 Global Hotel Investment Outlook outlines the resilience and growth of the hotel sector as consumers continue to prioritize spending on travel CHICAGO, Jan. 24, 2024 – JLL’s Hotels & Hospitality Group has released their flagship Global Hotel Investment Outlook, which reveals that global hotel performance soared in 2023, reaching a full recovery. Though 2023 proved to be a challenging year for commercial real estate, marked by geopolitical tensions and capital market dislocation, the lodging industry demonstrated resilience, with RevPAR (revenue per available room) achieving a full recovery and surpassing 2019 levels b...
Why Luxury Hotel Brands Are Hot on India
JLL | November 28, 2023
Hotel operators are looking to ride the boom in domestic travel India is becoming a top destination for luxury and ultra luxury hotel companies, driven by a surge in domestic travel and the growing affluence of the Indian middle and upper classes. New ultra-luxury hotel openings are set for next year in cities across the country, including from notable operators like Waldorf Astoria and Raffles. These luxury hotels get their “ultra” from elements such as exquisite design, personalized services, Michelin-starred restaurants, and high-end spas. The emergence of India as an ultra-luxury hotel destination can be attributed largely t...
How Hotels Are Turning to AI
JLL | November 6, 2023
Hotel rooms are starting to feel like they were made just for you. Personalized music plays when you open the door. Lighting and air-conditioning are set to your ideal levels. A menu of the family’s favorite movies pop up on the TV, while the mini fridge is free from any food allergies. Behind it all: a hotel industry racing to deliver unique guest experiences fuelled by new technologies and artificial intelligence. “If knowing your guest is a priority to winning loyalty and increasing spend, then AI has tremendous potential in helping build guest profiles,” says JLL’s hotel asset management expert Ross Beardsell. “If a gue...
Why New Technology Is Coming to Hotels
JLL | October 5, 2023
A new survey shows technology is the top priority of hotel operators amid the labor crunch Imagine stepping into a hotel lobby and breezing through a check-in powered by facial recognition technology. With a key in hand, your app-ordered room service is delivered promptly by a robot. In some hotels this is already reality. For instance, guests at integrated resort Marina Bay Sands can skip the queue and check in by scanning their faces and unlocking their hotel rooms with the same phone. In the Rolling Hills Hotel on the outskirts of Seoul, hotel guests can place their room service orders through Kakao Talk, a popular messaging app, an...
How Hotel Owners, Operators Are Syncing Up on ESG Goals
JLL | September 6, 2023
Green agreements are helping owners and operators align on sustainability goals Hotel operators and investors are increasingly collaborating to accomplish shared green goals, a sign of growing interest in meeting environmental, social, and governance (ESG) commitments. Take luxury resort group Six Senses and its parent company InterContinental Hotels Group. Each Six Senses property embeds sustainability commitments, such as the adoption of green building standards, the allocation of funds toward local community and environmental initiatives, and even the appointment of in-house sustainability professionals. “ESG is quickly gaining si...
How to Address AI’s Energy Demands? AI Can Help With That
JLL | August 4, 2023
Sustainability efforts are putting the focus on data centers Generative AI technologies that can turn simple phrases into stunning, photo-realistic images have sparked the world’s imagination. They also require a substantial amount of energy. Researchers estimate that running one generative AI algorithm requires up to five times more energy than a regular search engine query. Just training ChatGPT took the same amount of energy as driving 123 combustion vehicles for one year. With AI queries on the rise – openai.com alone pulled in 1.9 billion visits in May 2023, according to SimilarWeb – the boost in energy requirements matt...
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