Analysis-Companies Boost Social and Climate Reporting Amid ESG Backlash
November 4th, 2024
Bally’s Enters Into Merger Agreement With Affiliates of Standard General L.P.
Bally’s Corporation | July 25, 2024
Bally’s Stockholders to Receive $18.25 per Share in Cash, Representing a 71% Premium to the Company’s 30-day Volume Weighted Average Price Prior to the Initial Standard General Proposal Bally’s Special Committee Unanimously Recommended and Board of Directors Approved the Transactions and the Per Share Cash Merger Consideration In Lieu of Receiving the Per Share Cash Merger Consideration, Bally’s Stockholders Can Elect to Remain Invested in the Company via Rollover ElectionBally’s to be Combined with The Queen Casino & Entertainment PROVIDENCE, R.I.-- Bally’s Corporation (“Bally’s” or the “Company”) (NYSE: BALY) an...
Accor – First Half 2024: Solid Performances in Line With Growth Targets
Accor | July 25, 2024
REVPAR up 6% in the first half compared to H1 2023 - Net unit growth accelerated to 4.1% over the last 12 months Revenue up 11% to €2,677M EBITDA up 13% to €504M Earnings per share up 11% to €0.90 Once again in this first half-year, Accor posted solid performances, in line with the medium-term outlook we presented to our investors last year. This demonstrates the strength of our model, the operational and financial discipline of our teams, and the strong momentum of the Group and its brands. Activity in the second quarter remained strong in all regions and for all our brands, our pace of development accelerated and our le...
U.S. Hotel Results for Week Ending 20 July
CoStar Group | July 25, 2024
WASHINGTON – 25 July 2024 – The U.S. hotel industry reported higher performance results than the previous week and positive comparisons year over year, according to CoStar’s latest data through 20 July. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 14-20 July 2024 (percentage change from comparable week in 2023): Occupancy: 73.5% (+1.0%) Average daily rate (ADR): US$165.91 (+2.4%) Revenue per available room (RevPAR): US$122.02 (+3.4%) The U.S. RevPAR level was the highest for any week on record. Among the Top 25 Markets, Houston saw the high...
Hospitality CEOs on the Industry Today: Transformation, Value, Optimism
Jeanelle Johnson | July 25, 2024
By Jeanelle Johnson The annual NYU International Hospitality Industry Investment Conference, now in its 46th year, offers a deep dive into the current and future state of the hospitality industry. This year, I had the privilege of leading a CEO panel discussion on "Innovative hospitality concepts, new spaces for expansion." I describe innovation in hospitality as the transformation of how the industry creates, delivers and captures value. Drawing from PwC’s 27th Annual Global CEO Survey, I highlighted a few key statistics to kickstart our conversation: 52% of CEOs say their top goal over the next three years is to identify new sour...
Wyndham Hotels & Resorts Reports Strong Second Quarter Results
Wyndham Hotels & Resorts | July 25, 2024
Company Raises Full-Year 2024 EPS Outlook - Company Grows Development Pipeline by 7% and System Size by 4% PARSIPPANY, N.J (July 25, 2024) – Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months ended June 30, 2024. Highlights include: Global RevPAR grew 2% in constant currency. System-wide rooms grew 4% year-over-year. Opened over 18,000 rooms globally, including over 7,000 in the S., which represented a year- over-year increase of 16%, and the first ECHO Suites Extended Stay by Wyndham. Awarded 180 development contracts globally, including 96 contracts in the S., which represented an increase of...
AI May Make Mistakes, But It Won’t Shoot a Customer
Shep Hyken | July 25, 2024
Customers are not yet 100% comfortable with AI technology. It still makes mistakes, which is frustrating. Consider these findings from our annual customer service and CX research (sponsored by RingCentral): 70% of customers said they would rather use the phone than self-service solutions including AI-fueled technologies like ChatGPT or voice recognition software. 63% of customers are frustrated when using AI or ChatGPT technologies. 56% of customers admit to being scared of AI and ChatGPT. Even with customers’ concerns and trepidation about interacting with an AI-fueled chatbot or voice recognition technol...
Hilton Signs With Acre Hotels to Debut Hampton by Hilton at London Heathrow
Hilton | July 25, 2024
LONDON, UK – Hilton (NYSE: HLT) has announced the signing of Hampton by Hilton London Heathrow Bath Road, marking the brand’s debut at Europe’s busiest airport, as part of a franchise agreement with Acre Hotels Ltd, part of the Westcombe Group. Conveniently located near the M4 motorway, the hotel will be a short 7-minute drive from Heathrow Airport Terminals 2 and 3, with easy access to Central London in 30 minutes via the Elizabeth Line. The 157-room hotel will offer onsite parking and Hampton by Hilton’s signature amenities including flexible communal spaces, complimentary Wi-Fi and a hot breakfast, and a retail market for o...
InterContinental Bellevue at the Avenue Arrives in the Pacific Northwest
IHG Hotels & Resorts | July 25, 2024
InterContinental Hotels & Resorts, part of IHG Hotels & Resorts’ luxury and lifestyle portfolio, announces that InterContinental Bellevue at the Avenue is open to guests. This 208-room luxury hotel, situated within the $1bn+ Avenue Bellevue complex developed by Fortress Development, marks the brand’s debut in the Pacific Northwest, setting a new standard for luxury accommodations in the region. With breathtaking views of Lake Washington and downtown Seattle, InterContinental Bellevue at the Avenue is poised to become a premier destination for local, regional, and global travelers. General Manager Haje Roger Thurau, a 30-yea...
Kasidy DeWitt Appointed as Spa Director for Shutters on the Beach and Hotel Casa del Mar
Edward Thomas Collection | July 25, 2024
Santa Monica, CA (July 25, 2024)—Shutters on the Beach and Hotel Casa del Mar, the iconic side by side properties situated along the coveted Southern California coastline, proudly announce a key appointment to their world-class team of associates—Director of Spa, Kasidy DeWitt. Under Kasidy’s helm, Shutters on the Beach’s ONE Spa and Hotel Casa del Mar’s Sea Wellness Spa will further strengthen the wellness experiences for guests, blending state-of-the-art treatments with Santa Monica’s laidback California lifestyle. Renowned as a bespoke refuge for celebrities and an authentic reflection of coastal sophistication by travellers an...
The St. Regis Bahia Beach Resort Appoints Diego Ortega as Executive Chef
St. Regis Hotels & Resorts | July 25, 2024
Rio Grande, Puerto Rico – The St. Regis Bahia Beach Resort is delighted to announce the appointment of Diego Ortega as Executive Chef of the beloved resort. Boasting extensive knowledge of the culinary and hospitality industry, Chef Ortega brings a wealth of experience to his new role at The St. Regis Bahia Beach Resort, where he will oversee the resort’s culinary direction. Chef Ortega joins The St. Regis Bahia Beach Resort from Dorado Beach, a Ritz-Carlton Reserve, where he served as Executive Sous Chef. During his tenure, he played a pivotal role in developing and enhancing culinary offerings. He also held prior positions at The Ritz-...
Commonwealth Hotels Welcomes Mark Shine as Director of Sales and Marketing, The Art Hotel, Curio Collection by Hilton
The ART Hotel Denver | July 25, 2024
DENVER, Colo. (July 25, 2024) – Commonwealth Hotels announced today that Mark Shine has been appointed Director of Sales and Marketing of The ART Hotel Denver, Curio Collection by Hilton. With over 25 years of tenure in the hospitality industry, Shine aims to draw upon his extensive hospitality expertise in his new role where he will lead the sales and marketing teams, and exceed guest satisfaction all while successfully driving sales, maximizing opportunities for leisure, business and group travelers, and more. “Mark emulates all of the qualities we deem essential for success on property. His proven track record in the industry will un...
CoralTree Hospitality to Manage California’s Outbound Mammoth
Outbound Hotels | July 25, 2024
DENVER – July 25, 2024 – CoralTree Hospitality, one of the top independent hospitality management companies in the United States, adds Outbound Mammoth in Mammoth Lakes, Calif. to its growing management portfolio. The 184-room resort is located in the heart of the Sierra Mountains with access to all of the region’s year-round activities including skiing at nearby Mammoth Mountain. “Our company’s roots are in managing year-round mountain resorts like Outbound Mammoth,” said Tom Luersen, president of CoralTree Hospitality. “This property is an exciting addition to our management portfolio. Outbound Mammoth is located in an ico...
GBTA Convention 2024 Delivers Record Forecast Outlook and Positive Future Vision for Business Travel While Bringing Education, Connections and Inspira
Global Business Travel Association | July 25, 2024
The world’s largest gathering of the global business travel industry transcends travel disruption challenges, hosts 5,400 global delegates in Atlanta during its annual event July 22-24 The global business travel industry converged in Atlanta, Georgia, for the GBTA Convention 2024 held July 22-24 at the Georgia World Congress Center. Attracting 5,400 registered attendees from 50 countries – including more than 1,100 travel buyers from 600+ companies and 310 travel supplier exhibitors – the not-to-be-missed industry event featured over 200 dynamic presenters, 86 peer-reviewed and curated education sessions, unmatched networking oppor...
International Visitors to U.S. Spent $21.6 Billion in May 2024
NATIONAL TRAVEL AND TOURISM OFFICE | July 25, 2024
Data recently released by the National Travel and Tourism Office (NTTO) show that in May 2024: International visitors spent a record-setting $21.6 billion on travel to, and tourism-related activities within, the United States during the month of May, an increase of more than 16 percent compared to May 2023 and surpassing pre-COVID records set in March 2018; in fact, monthly U.S. travel and tourism exports have never been higher. Conversely, Americans spent nearly $20.5 billion traveling abroad during May, yielding a balance of trade surplus of more than $1.1 billion for travel and tourism-related goods and services. International ...
Amadeus Improves Sales, Meeting & Event Planning With Enhanced Delphi® Experience
Amadeus | July 25, 2024
A newly enhanced and expanded sales and catering suite of solutions will allow hotels of all sizes to maximize efficiency and profitability July 25, 2024 - Group business is top of mind for hoteliers in 2024, with new research finding that hoteliers are prioritizing ways to strengthen customer relationships, to improve outreach with new and repeat business, and to plan and execute events more effectively. Recognizing this, Amadeus has harnessed over three decades of expertise to develop an enhanced Delphi solution. Designed to support teams from sales lead to execution, Delphi has been updated to better meet the needs of any hotel, no matte...
Growth in Room Rates Continues To Drive Canada Hotel Industry
CoStar Group | July 24, 2024
WASHINGTON – 24 July 2024 – Canada’s hotel industry achieved continued performance gains through average daily rate (ADR), according to CoStar’s June 2024 data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. June 2024 (percentage change from 2023): Occupancy: 74.5% (+0.5%) Average daily rate (ADR): CAD231.04 (+3.7%) Revenue per available room (RevPAR): CAD172.10 (+4.2%) “ADR continues to be the main driver of RevPAR improvement in Canada,” said Laura Baxter, CoStar Group’s director of hospitality analytics for Canada. “The 3.7% increas...
The Top 7 Pain Points in Hospitality Procurement and How to Overcome Them
Johannes Vocke | July 24, 2024
By Johannes Vocke, FutureLog Chief Financial Officer Siloed and fragmented procurement software often complicates the procure-to-pay process. Outdated solutions are typically expensive, inflexible, and inefficient, yet many organisations persist in using these antiquated systems. This reliance on old-fashioned procurement management systems hinders operational efficiency. A 2023 Procurement Insights report reveals that 80% of organisations still depend on manual or semi-digital tools to manage their P2P cycle. These businesses typically utilise ERP or accounting software—an approach comparable to using a flashlight to crack a nut. W...
Sustainable Hospitality: Using Technology To Go Green Means More ‘Green’ for Hoteliers
Joe Vargas | July 24, 2024
By Joe Vargas SVP & General Manager, Infor Hospitality In 2023, the World Tourism Organization spotlighted an impressive trend: a significant 73% of global travelers now prefer hotels that adopt sustainable practices. This shift is driving hotels to incorporate green technology extensively in their operations. According to the Global Sustainable Tourism Council, by 2025, green technology will distinguish industry leaders in the hospitality sector. However, despite these advancements, the hotel industry still struggles with achieving environmental sustainability. It remains a significant contributor to global carbon emissions an...
Valencia Hotel Group Secures Largest Equity Raise to Date, Acquiring Cavalry Court and The George in College Station, Texas
Valencia Hotel Group | July 24, 2024
HOUSTON, TX – Valencia Hotel Group is thrilled to announce a major achievement in its growth trajectory with the successful completion of its largest equity raise to date. This landmark investment facilitates the acquisition of Cavalry Court and The George, two premier boutique hotel properties located in the heart of College Station, Texas. With this significant expansion, Valencia Hotel Group now holds majority interest in all hotels within its management portfolio. The acquisition of these distinguished hotels was made possible through the purchase of the controlling interest from Harrison Street, a leading investment management firm ...
Coast Hotels Announces New 91-Room Franchised Property in Courtenay, British Columbia
Coast Hotels | July 24, 2024
Vancouver, B.C. – July 24nd, 2024 – Coast Hotels Limited, a fully owned subsidiary of APA Hotel Canada, Inc. and one of North America’s fastest-growing and one of Canada’s largest hotel brands, is pleased to announce the opening of its latest franchised property in Courtenay, British Columbia. The reimagined Coast Courtenay Hotel officially opened its doors to guests on June 04th and is offering a comfortable and convenient stay for travelers visiting Vancouver Island and the Comox Valley. Conveniently situated just two blocks from the Strait of Georgia, near the vibrant downtown core of the stunning oceanside community of Courtena...
Sandpiper Hospitality Managing First ECHO Suites Extended Stay by Wyndham in Spartanburg, South Carolina
Sandpiper Hospitality | July 24, 2024
Richmond, Va. – (July 24, 2024) – Sandpiper Hospitality – a Virginia-based hotel management company with vast expertise in the extended-stay segment – is managing the new ECHO Suites Extended Stay by Wyndham Spartanburg in Spartanburg, South Carolina. Opened earlier this month, the ECHO Suites Extended Stay Hotel by Wyndham Spartanburg is the first property to open in Wyndham’s new brand of extended-stay hotels. Each of the 124 suites in the newly constructed hotel features a kitchenette with two stovetop burners, a full refrigerator, and a microwave. The modern rooms also offer smart HDTVs, free WiFi and a bathroom with a c...
Hotel 1000, LXR Hotels & Resorts Appoints James Cassidy as Executive Chef
Hotel 1000, LXR Hotels & Resorts | July 24, 2024
SEATTLE (July 24, 2024) – Acclaimed Chef James Cassidy brings his international culinary expertise to All Water Seafood & Oyster Bar as its new executive chef, elevating the dining experience at Hotel 1000, LXR Hotels & Resorts, located near the Seattle Waterfront and Pike Place Market. With more than three decades in fine dining at award-winning, five-star hotels and resorts across three countries, Chef Cassidy has developed a distinct culinary perspective. His formal training in traditional French technique and classic Italian cooking, combined with extensive experience with Asian and Latin flavors, informs his approach to Pa...
Hyatt Signs With CR Land for New Park Hyatt Hotel in Xi’an
Park Hyatt Hotels | July 24, 2024
Park Hyatt Xi’an will be ideally located in the Xi’an CCBD commercial complex along the city’s central axis, creating a new landmark in the city CHICAGO / SHANGHAI (July 24, 2024) -- Hyatt Hotels Corporation (NYSE: H) and China Resources Land (CR Land, HKEX: 1109) announced that Hyatt has entered into a management agreement with CR Land for a Park Hyatt hotel in Xi’an, Shaanxi province, China. This project will be ideally located in the CCBD, one of the key mix-use commercial complexes along Xi’an’s central axis. Park Hyatt Xi’an will provide worldly travelers a sophisticated home-away-from-home in the ancient capital of China....
Bunkhouse To Make Fall Debut in Houston With Opening of Hotel Saint Augustine
Bunkhouse | July 24, 2024
Houston, Texas (July 24, 2024) – Hotel Saint Augustine, a forthcoming boutique hotel from Austin’s acclaimed hospitality group Bunkhouse, is now accepting reservations for fall 2024. As the first Bunkhouse hotel concept coming to Houston, Hotel Saint Augustine will further the brand’s reputation for creating some of the most celebrated hotels with a strong emphasis on design, rooted in the communities in which they exist. Located in the cultural heart of the city in Montrose’s Museum District, the hotel will be a brand-new build with 71 rooms and suites spread across five small buildings over two floors, in addition to an all-day r...
