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The Tricycle of Guest Service Excellence: A Perfect Model For Remarkable Experiences
Doug Kennedy | October 4, 2024
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Davidson Hospitality Group Tapped by Lennox Capital Partners to Manage Two Hotels
Davidson Hospitality Group | November 4, 2024
ATLANTA (November 4, 2024) – Davidson Hospitality Group, recently ranked #1 in Guest Satisfaction among Third-Party Hotel Management Companies by J.D. Power for the third consecutive year, has been selected by Lennox Capital Partners to manage two distinctive properties: The Highland Dallas, Curio Collection by Hilton in Dallas, Texas, and The Westin St. Louis in St. Louis, Missouri. “We are grateful for the opportunity to partner with the Lennox Capital team on these two outstanding hotels in truly dynamic and vibrant cities,” said Thom Geshay, Chief Executive Officer & President, Davidson Hospitality Group. “We look forward to
Grand Hyatt Scottsdale Resort Debuts $115M Renovation
Grand Hyatt Scottsdale Resort | November 4, 2024
SCOTTSDALE, Ariz. (November 4, 2024) –Hyatt Hotels Corporation (NYSE: H) is proud to announce Grand Hyatt Scottsdale Resort has completed its highly anticipated $115 million property-wide renovation. The property, formerly known as Hyatt Regency Scottsdale Resort & Spa at Gainey Ranch, marks the first Grand Hyatt hotel in Arizona. The newly reimagined luxury resort invites guests to connect with the captivating spirit of the American Southwest, complemented by six elevated dining experiences in partnership with celebrity chef Richard Blais, expanded pool and cabana offerings, a refreshed Spa Avania, expanded group meeting space capabi
ME by Meliá Arrives in Malta With Opening in Seaside Town of St. Julian’s
ME by Meliá | November 4, 2024
Palma - November 4, 2024: November 1 marks the official opening of ME Malta, primely positioned in the seaside town of St. Julian’s on the island’s north-eastern coastline. Located on the water’s edge and designed by the globally acclaimed Zaha Hadid as part of the Mercury Towers development, ME Malta will become a cultural hub for travelers and locals alike, elevating the destination’s urban scene with its restaurants, bars, and cultural programming. The property is ME by Meliá’s Maltese debut and marks the brand’s second collaboration with Zaha Hadid, following the success of ME Dubai which opened in 2020. One of Europe’s
Accor Signs With Alphanam Group for New Sofitel Sapa HOTEL & RESIDENCES in Singapore
Accor | November 4, 2024
(November 4, 2024) HANOI, Vietnam – Accor, a global leader in hospitality, is proud to announce the signing of Sofitel Sapa HOTEL & RESIDENCES, a landmark luxury development set to bring Sofitel’s signature French elegance and cultural refinement to the breathtaking highlands of Northern Vietnam. This exciting new project will be a combination of 176 rooms and 436 branded residences. It is expected to open its doors in 2030, marking another milestone in the expansion of Sofitel’s portfolio in Southeast Asia. Perched in the stunning landscapes of Sapa, a region known for its terraced rice fields, mist-covered mountains, and vib
Hospitality Financial Leadership: What Are CAP Rates and How to Use Them
David Lund | November 4, 2024
A capitalization rate, or cap rate, is a measure of the income return on an asset, such as hotel or rental property, relative to its purchase price. It is calculated by dividing the net operating income (NOI) of the asset by its purchase price. That’s what this piece is all about. It also must be said from the get-go that understanding cap rates is not so difficult. “Normally” NOI is calculated using all income less all operating expenses but does not include costs for debt, depreciation, amortization, reserve for capital expense or income taxes. That’s the typical basis for the calculation of the hotel’s value, est
U.S. Travel Calls on Congress to Pass Critical Disaster Relief by Thanksgiving Holiday
U.S. Travel Association | November 4, 2024
WASHINGTON - In a letter delivered on Friday, the U.S. Travel Association called on Congressional leaders to pass substantial disaster relief to regions devastated by Hurricanes Helene and Milton as soon as Congress reconvenes. In the letter, U.S. Travel Association President and CEO Geoff Freeman writes: “We urge you to swiftly pass a disaster supplemental appropriations bill by Thanksgiving to support communities devastated by Hurricanes Helene and Milton. Damage caused by these storms is estimated to total more than $100 billion dollars, with downstream impacts on travel, visitor spending, hotel bookings, tax revenues and employm
China Expands Visa-Free Policy to 9 More Countries Including South Korea
November 1, 2024
BEIJING (Reuters) - China will extend visa-free entry to citizens from nine additional countries, including South Korea, Norway and Finland, the foreign ministry said on Friday. Starting Nov.8, nationals from these countries, which also include Slovakia, Denmark, Iceland, Andorra, Monaco and Liechtenstein, will be allowed to enter China for business, tourism, family visits, or transit for up to 15 days without a visa, the ministry said. The policy will be in effect through Dec.31, 2025. (Reporting by Ethan Wang and Ryan Woo; editing by Philippa Fletcher)
Australia Household Spending Slips in Sept, Confounding Rebound Hopes
November 1, 2024
By Wayne Cole SYDNEY (Reuters) - Australian household spending fell in September as consumers cut back on clothing and cars, data showed on Friday, further confirmation that billions of dollars in recent tax cuts were being saved rather than spent. That should be a downside surprise to the Reserve Bank of Australia (RBA) which had expected consumption to pick up in the second half of this year and could see it adopt a more dovish tone at a policy meeting next week. "The data looks very weak over the last three months and surprisingly soft," said Gareth Aird, head of Australian economics at CBA. "If the data is close to accurate th