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November 4th, 2024
Palace Hotel Appoints Geoffrey Sarabia-Mason as Director of Sales & Marketing
The Luxury Collection® Hotels & Resorts | January 15, 2024
Seasoned Industry Executive Joins Elite Hospitality Team at San Francisco’s Historic Hotel SAN FRANCISCO (January 15, 2024) – San Francisco’s historic Palace Hotel, a member of Marriott International’s Luxury Collection, is pleased to announce the appointment of Geoffrey Sarabia-Mason as director of sales and marketing. He joins the luxury property with more than three decades of management experience. A tenured industry professional, Sarabia-Mason will be responsible for planning and implementing sales and marketing programs for the landmark hotel. “Geoffrey comes to Palace Hotel with extensive experience in leadership roles ...
Hospitality Financial Leadership – How to Properly Record Packages in Your Hotel
David Lund | January 15, 2024
By David Lund Packages are, on the one hand, straightforward. They are a well-established offering in most hotels, customers love them, and they are not going away. On the other hand, most hoteliers are at a loss to properly set up and manage the transactions so that they do not end up with a mess in their books and systems. That is what this piece is about: How to properly administer these seemingly complicated and unruly devices. First: Pricing aspect Packages are a combination of a room and at least one other component, like a bed and breakfast package. They can also combine many items like we see in a romance package: room, meals, ro...
Baird/STR Hotel Stock Index Jumped 10.5% in December, Ended Year Up 38.4%
Baird | January 12, 2024
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index jumped 10.5% in December to a level of 6,760. For 2023, the stock index was up 38.4%. “Hotel stocks – like the broader market – finished 2023 on a high note as the ‘soft landing’ narrative and lower interest rate outlook continued to boost investor sentiment and valuation multiples,” said Michael Bellisario, senior hotel research analyst and director at Baird. “Both the hotel brands and hotel REITs were up more than 10% in December and outperformed their respective benchmarks. For the year, the hotel REITs’ 19% gain more than doubled the return of re...
Transwestern Hospitality Group Acquires Houston’s Renowned Hotel Granduca
Transwestern Hospitality Group | January 12, 2024
HOUSTON, Jan. 12, 2024 -- Transwestern Hospitality Group (THG) announces it has acquired Hotel Granduca, a 122-key luxury hospitality property located on three and a half acres at 1080 Uptown Park Boulevard. THG partners Tyler Lavin and Thomas Duncan, supported by Transwestern's investment team, facilitated the transaction and will lead a comprehensive repositioning project at the renowned hotel. "Hotel Granduca is an irreplaceable five-star property located in an amenity-rich, walkable enclave situated between the River Oaks and Galleria submarkets," Lavin said. "In a world where travelers increasingly expect a memorable, authentic ...
Starwood Capital Acquires Portfolio of Ten Hotels From Edwardian Group Comprising 2,053 Rooms
Starwood Capital | January 12, 2024
LONDON, Jan. 12, 2024 -- Starwood Capital Group ("Starwood Capital"), a global private investment firm with a primary focus on real estate, announced today that a controlled affiliate has acquired a portfolio of 10 hotels from Edwardian Group for an undisclosed sum via an off-market transaction. The portfolio comprises 10 hotels with 2,053 rooms. Edwardian Group will continue to own and operate The Londoner and its two Radisson Collection hotels, The May Fair and The Edwardian Manchester, following closing of the transaction. Alongside the acquisition, Starwood Capital and Edwardian Group intend to collaborate on future opportunities ...
10 Hospitality Trends for 2024: Crafting Tomorrow’s Experiences Today!
EHL Insights | January 12, 2024
As a testament to its resilience, agility and innovative spirit, this article reflects today’s increasingly dynamic hospitality industry in terms of its long, medium and short-term evolution. Best-selling author, Will Guidara, claims “We are entering into a hospitality economy” – suggesting that what underpins the essence of hospitality, (service excellence, human interaction, personalization and the co-creation of memorable experiences), is actually what many sectors of industry are desperately in need of today. As we charge at break neck speed towards an ever-more digitalized society, the hospitality industry stands out as the succ...
U.S. Select-Service and Extended-Stay Hotel Outlook 2024
JLL | January 12, 2024
In the early 2000s, select-service and extended-stay hotels operated as more clearly defined sectors, differentiated by their target market and length of stays. During this period, individual owners dominated the market with only a handful of prominent brands available. However, in recent years, the distinctions between select-service and extended-stay hotels have become increasingly blurred. Select-service hotels now incorporate extended-stay amenities including in-room kitchenettes and flexible workspaces, while extended-stay hotels have added business centers with more of its brands incorporating 24/7 self-service marketplaces as see...
Wyndham Confirms Receipt of Expansive FTC Second Request Under HSR Act for Choice’s Unsolicited Hostile Offer to Acquire Wyndham
Wyndham Hotels & Resorts | January 12, 2024
Extended Regulatory Review Certain Offer Continues to Undervalue Wyndham and Exposes Wyndham Shareholders to Significant Asymmetrical Risk PARSIPPANY, N.J., Jan. 12, 2024 -- Wyndham Hotels & Resorts (NYSE: WH) ("Wyndham" or the "Company"), the world's largest hotel franchising company with approximately 9,100 hotels spanning more than 95 countries, today confirmed receipt of a 40-page and 65-topic 'Second Request' from the Federal Trade Commission in connection with Choice Hotels International, Inc.'s (NYSE: CHH) ("Choice") unsolicited proposed acquisition of Wyndham: "From the beginning, Wyndham has consistently stated that this...
Signia by Hilton Debuts Flagship Hotel in Downtown Atlanta
Hilton | January 12, 2024
ATLANTA – Today, Hilton (NYSE: HLT) announced the highly anticipated opening of the 976-room Signia by Hilton Atlanta, marking the first new build and Georgia hotel for the Signia by Hilton brand, and Atlanta’s largest ground-up hotel development project in 40 years. Inclusive of the property’s debut, Atlanta represents Hilton’s largest market globally by number of hotels with a portfolio of 136 hotels across 13 brands welcoming travelers to the destination. In Atlanta, Hilton also has a pipeline of more than 40 hotels in various stages of design and construction. Poised to become a signature landmark and economic catalyst on th...
House Votes to Overturn Job-Killing Joint-Employer Rule
AHLA | January 12, 2024
WASHINGTON (Jan. 12, 2024) – American Hotel & Lodging Association President & CEO Chip Rogers released the below statement today after the U.S. House of Representatives passed a Congressional Review Act resolution to overturn the National Labor Relations Board’s (NLRB) dangerous joint-employer regulation. “Today’s House vote is a victory for common sense. Neither companies nor their employees want this job-killing regulation, which will destroy the franchise model that supports millions of small business jobs,” said AHLA President & CEO Chip Rogers. “The bipartisan nature of this vote underscores how destructive ...
JRK Property Holdings Acquires Hyatt Branded Hotel Portfolio in San Juan, Puerto Rico From PRISA Group
JRK Property Holdings | January 12, 2024
Los Angeles, CA (January 12, 2024) – JRK Property Holdings, through its $350 million hospitality fund, has acquired a two-property, 275-key Hyatt-branded hotel portfolio in San Juan, Puerto Rico from the PRISA Group for an undisclosed price. The portfolio comprises two premium select-service hotels located within the Puerto Rico Convention District: the 149-room Hyatt Place San Juan and 126-room Hyatt House San Juan. Developed by the seller within the past eight years, both properties have been recently renovated including lobby refresh, updated F&B outlets, and guestroom and corridor improvements. Both properties were designed t...
International Visitors Spent $19.0 Billion in the United States in November 2023
National Travel and Tourism Office | January 12, 2024
International Visitors Spent $19.0 Billion in the United States in November 2023 Data recently released by the National Travel and Tourism Office (NTTO) show that in November 2023: International visitors spent $19.0 billion on travel to, and tourism-related activities within, the United States, an increase of more than 21 percent compared to November 2022 and the highest level of monthly spending since December 2019 (before the onset of reported COVID-19 cases). In fact, monthly U.S. travel and tourism exports are within $1.8 billion of their highwater mark set back in March 2018 when international visitors spent an appre...
Valencia Hotel Collection Promotes Roy Kretschmer to Chief Operating Officer
VALENCIA HOTEL COLLECTION | January 12, 2024
Kretschmer Transitions into New Role After More Than 20 Years with The Texas-Based Independent Hospitality Group AUSTIN, TX – January 12, 2024 – Valencia Hotel Collection (VHC) proudly announces the promotion of Roy Kretschmer to the position of Chief Operating Officer – Valencia Hospitality Group. This move comes in light of Kretschmer’s exceptional two-decade tenure with the brand, marked by a proven track record of successful hotel openings, prestigious awards, and exhibiting admirable leadership. Previously serving as VHC’s Executive Vice President of Operations, Kretschmer will continue to spearhead initiatives to optimize ...
Conrad Maldives Rangali Island Appoints Thomas Hoeborn as General Manager
Conrad Maldives Rangali Island | January 12, 2024
A hospitality veteran, Hoeborn will lead the team in all aspects of hotel operations and performance. MALE, Maldives – January 2024 – Conrad Maldives Rangali Island is delighted to announce the appointment of Thomas Hoeborn as General Manager. A hospitality veteran with close to 40 years in the industry, Hoeborn’s new role will see him further drive Conrad Maldives Rangali Island's ongoing commitment to luxury and innovative guest experiences. Jamie Mead, senior director, operations, South East Asia, said, “Thomas’ seasoned leadership acumen and track record in luxury hospitality will go a long way in further cementing Conrad Ma...
CoralTree Hospitality to Manage theStelle Lodge in the Heart of Park City’s New SkyRidge Mountain Community
CoralTree Hospitality | January 11, 2024
New Lodge Expected to Open Late 2026 DENVER – January 11, 2024 – Tom Luersen, president of CoralTree Hospitality, today announced that the company will manage theStelle Lodge, a new four-season, boutique mountain resort in Park City, Utah. theStelle is located in the heart of the new SkyRidge Mountain Community, which is located lakeside on the Jordanelle Reservoir and across from Deer Valley Resort. The lodge promises to offer an intimate, luxury guest experience that includes three dining options, a spa and meeting space with access to all of the amenities SkyRidge has to offer including an equestrian center, golf course, shuttle to ...
Global Travel and Tourism Sector Deal Activity Plunges 31.9% in 2023, Finds GlobalData
GlobalData | January 11, 2024
Global travel and tourism sector witnessed the announcement of a total of 723 deals (mergers & acquisitions (M&A), private equity (PE), and venture capital (VC)) during 2023, a decline of 31.9% compared to the 1,062 deals announced during the previous year, according to GlobalData, a leading data and analytics company. An analysis of GlobalData’s Deals Database reveals that all the deal types under the coverage witnessed notable decline in volume during 2023 compared to the previous year. While the volume for M&A deals fell by 32.8%, the number of PE and VC deals were down by 40% and 27.9%, respectively, during 2023 c...
U.S. Hotel Results for Week Ending 6 January
CoStar Group | January 11, 2024
WASHINGTON – 11 January 2024 – U.S. hotel performance decreased from the previous week, while year-over-year comparisons improved, according to CoStar’s latest data through 6 January. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 31 December 2023 through 6 January 2024 (percentage change from comparable week in 2023): Occupancy: 46.8% (-0.7%) Average daily rate (ADR): US$152.17 (+7.2%) Revenue per available room (RevPAR): US$71.28 (+6.4%) Among the Top 25 Markets, New Orleans saw the largest year-over-year increases in each of the three key pe...
Stunning New Research Ranks United States Nearly Dead Last in Competition for Global Travelers
U.S. Travel Association | January 11, 2024
Due to slow recovery and declining U.S. global travel market share, U.S. Travel Association commissioned Euromonitor International to assess the competitiveness of the U.S. relative to other top countries for global travel. The U.S. ranked 17th out of 18 countries analyzed, stemming from decades of underinvestment and a lack of focus and coordination from the federal government. Inefficiencies in the U.S. travel system threaten the economy. One example: The U.S. risks losing 39 million visitors and $150 billion in spending over the next 10 years due to excessive visitor visa wait times (Tourism Economics). U.S. Travel launch...
Three Customer Service Lessons from a World Traveler
Shep Hyken | January 11, 2024
By Shep Hyken I’m always looking for good customer service stories that teach or remind us about creating an amazing customer experience. I experienced something worth sharing recently, and we can take at least three lessons from it. I booked an international trip for a speaking engagement. On the day of departure, I was dropped off at the airport and went directly to the ticket counter. It would take two flights on two airlines to get to where I was going, so I expected two boarding passes. The agent only gave me one and told me to get the next boarding pass when I landed. I’ve done this many times before and never had tro...
Senthil Krishnamurthy Appointed Executive Chef of Goldener Hirsch, Auberge Resorts Collection
Goldener Hirsch, Auberge Resorts Collection | January 11, 2024
Krishnamurthy Has Been Internally Promoted After Nearly 15 Years Serving The Park City Community DEER VALLEY, UT (January 11, 2023) - Goldener Hirsch, Auberge Resorts Collection, the Austrian chalet-inspired resort announced today the appointment of Chef Senthil Krishnamurthy to Executive Chef. With over two decades of fine dining experience, proficiency in eight languages and a passion for the greater Salt Lake and Park City communities, Chef Senthil exudes culinary excellence and cultivates a sense of community in the heart of Deer Valley. “We are delighted to promote Chef Senthil to the esteemed position of Executive Chef,” says Gen...
Coury Hospitality Promotes Andrew Casperson to Chief Operating Officer
Coury Hospitality | January 11, 2024
Coury Hospitality bolsters its leadership to support growing portfolio of lifestyle hotels and culinary concepts DALLAS (January 11, 2024) – Coury Hospitality, a leading full-service lifestyle hospitality management company, is pleased to announce the appointment of Andrew Casperson as Chief Operating Officer. Promoted from Executive Vice President of Operations, Casperson is an industry veteran whose leadership will be instrumental in fostering innovation to deliver guests exceptional experiences in culinary, entertainment, and overall operational excellence. Casperson joined Coury in the spring of 2023 and leads operations strateg...
The Hotel Group Celebrates Conversion and Renovation of Hampton Inn by Hilton in Pullman, Washington
The Hotel Group | January 11, 2024
The Hotel Group Celebrates Conversion and Renovation of Hampton Inn by Hilton in Pullman, Washington Pullman, WA – January 11, 2024 – The Hotel Group (THG), an affiliate of Hotel Equities (HE), and a leading national hotel management, investment and development company is delighted to announce the successful conversion of the former Holiday Inn Express in Pullman, Washington, to the Hampton Inn by Hilton brand. This strategic conversion and complete hotel renovation underscores The Hotel Group and Hotel Equities’ dedication to delivering elevated guest experiences. Launched under the leadership of General Manager Meghan Wiley...
Chatham Lodging Trust Announces Sale of Hilton Garden Inn Denver Tech Center
Chatham Lodging Trust | January 11, 2024
WEST PALM BEACH, Fla., January 11, 2024 —Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on investing in upscale, extended-stay hotels and premium-branded, select-service hotels, today announced the closing of the sale of the 180-room Hilton Garden Inn Denver Tech Center for approximately $18 million. An approximate $6 million renovation of the hotel was planned for 2023 but was not completed due to the pending sale. Proceeds from the sale of the hotel will be used for corporate investments and to repay debt....
Wayside Investment Group Reopens Extended Stay America Suites in Baytown, Texas Following Renovation
Wayside Investment Group | January 11, 2024
Houston, TX, January 11, 2024 — Wayside Investment Group, a privately owned Texas-based real firm specializing in making opportunistic investments in the lodging and real estate sector, announced today the grand reopening of its Extended Stay America Suites located in Baytown, Texas, following a comprehensive renovation to provide more current amenities and services to long-term guests. The three-story, 82-room property renovations included significant upgrades to guest rooms, public spaces, a refinished exterior, and new signage. “We are thrilled to partner with Extended Stay America for the reopening of our Baytown property, replicati...
