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November 4th, 2024
Soaring Passenger Traffic, Longer Stays: Mastercard Economics Institute on Travel in 2024
Mastercard Economics Institute | May 20, 2024
PURCHASE, N.Y. | MAY 20, 2024 – The travel sector in 2024 is breaking boundaries. Through March 2024, consumer spending on travel is robust with significant increases in passenger traffic, according to the latest global report from the Mastercard Economics Institute. Released today, “Travel Trends 2024” provides comprehensive insights into the evolving landscape of the travel industry across 74 markets. Despite fluctuating exchange rates and varying levels of affordability, the desire to travel remains stronger than ever. In 2024 the travel sector is flourishing, with nine out of the last 10 record-setting spending days in the glob...
Hospitality Financial Leadership: Putting a Dollar Value on a Hotel
DAVID LUND | May 20, 2024
By David Lund Determining the current selling or asking price for a hotel is a bit tricky. Compared to estimating the present value of a house it’s more like a detailed math exercise rather than a google search on Redfin. That’s what this piece is all about, how you can estimate the value, AKA sales price. Commercial real estate firms specializing in hotel valuations are what your bank is going to require that you use if you’re asking them for financing to buy a hotel. That makes sense because the bank will want to protect their interest. If you own a hotel and want to sell it you can go that route as well but it’s not like two ...
Maverick Hotels and Restaurants Adds The Last Hotel STL to Management Portfolio
Maverick Hotels & Restaurants | May 16, 2024
Chicago, Illinois, May 16, 2024 – Maverick Hotels and Restaurants announced today that it is now managing The Last Hotel STL, located in Saint Louis, Missouri. Maverick founder and CEO Robert Habeeb made the announcement. The Last Hotel STL is steeped in history and architectural richness and embodies the preservation, restoration, and reinvention of the International Shoe Company. Originally opened in 1909, the iconic building boasts elaborate stone carvings, ornate metalwork, and terrazzo floors all in the Neoclassical and Art Deco styles. By forging a marriage of historic details and modern interiors, The Last Hotel STL comes alive w...
5 Practical Ways To Create Instagrammable Spaces in Your Hotel
Debbie Miller | May 16, 2024
By Debbie Miller In the age of social media dominance, providing an experience that’s not only memorable but also shareable is crucial for attracting and retaining guests. You may have a highly engaged online audience along with numerous loyal in-person hotel patrons. But is that audience one-in-the same? Many social media users discover brands they follow online. This means most of your Instagram followers may have never set foot on property. Similarly, those who frequent your hotel may not feel naturally inclined to snap pictures to post on social media. So, what’s the solution? Bridge your Hotel’s Online and Office Experience...
CBRE Expects RevPAR Growth to Improve in H2 2024, Driven by Holiday and International Travel
CBRE Group, Inc. | May 16, 2024
Dallas – May 16, 2024 – CBRE expects revenue per available room (RevPAR) growth to improve in the second half of 2024, following a weaker-than-expected first quarter. CBRE’s latest forecast projects a 2.0% increase in RevPAR growth for 2024, down from the 3.0% estimated in February 2024. RevPAR is now expected to grow by 3% for the remainder of the year, driven by international tourists, holiday travel and limited supply growth. CBRE forecasts GDP growth of 2.3% and average inflation of 3.2% in 2024. The performance of the lodging industry is closely tied to the strength of the economy, as there is typically a strong correlation be...
Sporting Events Elevated Madrid Hotel Performance in April
CoStar Group | May 16, 2024
WASHINGTON – 16 May 2024 – Pushed by the Madrid Open and the UEFA Champions League quarterfinals, Madrid's hotel industry posted double-digit performance growth in April, according to preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. April 2024 (year-over-year % change): Occupancy: 79.5% (+6.6%) Average daily rate (ADR): EUR184.20 (+16.6%) Revenue per available room (RevPAR): EUR146.43 (+24.2%) The annual, two-week-long Madrid Open commenced late in the month and pushed Madrid’s daily occupancy to as high as 93.4% (Wednesd...
U.S. Hotel Performance Reports Higher Performance From Previous Week
CoStar Group | May 16, 2024
WASHINGTON – 16 May 2024 – The U.S. hotel industry reported higher performance from the previous week and positive comparisons year over year, according to CoStar’s latest data through 11 May. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 5-11 May 2024 (percentage change from comparable week in 2023): Occupancy: 66.1% (+2.1%) Average daily rate (ADR): US$162.14 (+4.4%) Revenue per available room (RevPAR): US$107.24 (+6.6%) Among the Top 25 Markets, San Francisco reported the highest year-over-year increases in each of the three key performance ...
Show Me Some Respect – One of the Pillars of Customer Service
Shep Hyken | May 16, 2024
By Shep Hyken Some of you will not recognize the name Rodney Dangerfield, who was one of the funniest comedians of his time, if not all time. He passed away in 2004. (For those who aren’t familiar with Dangerfield, go to YouTube and search for his name, but only if you want to smile and laugh. And just a warning, some of his comedy club material is R-rated.) Dangerfield had a signature line: I don’t get no respect. For example, “I don’t get no respect … … When I was a kid, I played hide-and-seek. They wouldn’t even look for me. … When I was a kid, my parents moved a lot, but I always found them. ...
Sun, Sand, Sea, and Luxury: The Rebound of Barbados Following COVID-19
Kristina M. D'Amico | May 16, 2024
By Kristina M. D'Amico Barbados is an independent English-speaking Commonwealth country and the easternmost island of the Caribbean. It is one of the most mature tourist destinations in the Caribbean. The island is known for offering some of the most serene beaches in the world, as well as an abundance of dining options, local shopping experiences, outstanding golf courses, and numerous other attractions. According to Barbados Tourism Marketing Inc. (BTMI), approximately 80% of visitors to the island come for vacation or tourism purposes. The following graph shows the historical stopover visitation data for Barbados. Number of Stopove...
Hilton Pensacola Beach Unveils $11 Million in Renovations
INNISFREE HOTELS | May 16, 2024
The Innisfree Hotels property exudes simple elegance, modern comforts and culinary delights, all seamlessly blended into one unforgettable experience for guests. PENSACOLA BEACH, Fla. — Hilton Pensacola Beach, a premier beachfront property operated by Innisfree Hotels, has completely refreshed its common areas with $11 million in renovations to the lobby, front desk, award-winning restaurants, bars and more. With every detail meticulously chosen for comfort and elegance, Hilton Pensacola Beach is already stunning first-time and returning guests with its modern and elevated new look from the moment they step inside. Among the upgrades: ...
IHG Hotels & Resorts and Kajima Corporation Sign Agreement to Open ANA Holiday Inn Resort Karuizawa in 2025
IHG | May 16, 2024
ANA Holiday Inn Resort Karuizawa will be the tenth hotel under the Holiday Inn brand family in Japan The project is IHG’s first agreement with Kajima in Japan and is the first step in a broader strategic partnership The new hotel will offer a full range of activities and amenities for families Tokyo, May 16th, 2024: IHG Hotels & Resorts (IHG) today announced that it has signed its first management contract in Japan with Kajima Corporation (Kajima) to open ANA Holiday Inn Resort Karuizawa in 2025. This agreement is the first step in a mid- to long-term mutual development partnership in Japan between IHG, one of the wor...
The Quail Lodge Names Goran Basarov as Executive Chef
The Quail | May 16, 2024
CARMEL VALLEY, CA (May 16, 2024) The Quail Lodge; the idyllic resort in sunny Carmel Valley, California; announced today the appointment of Goran Basarov to Executive Chef. Drawing inspiration from working in kitchens across the globe, Chef Basarov will oversee the hotel’s culinary program, from weddings and events to its signature dining venues, Edgar’s and newly renovated Covey Grill. “We are thrilled to have Chef Goran Basarov leading and mentoring our culinary team,” said Kai Lermen, Managing Director of The Quail Lodge. “Embodying creativity, leadership skills and culinary excellence, he inspires our team with his wealth of ...
Sheraton Princess Kaiulani Completes Renovation of Ainahau Tower Rooms
Sheraton Princess Kaiulani | May 16, 2024
Extensive makeover opens with revamped Ainahau Tower and newly introduced Junior Suites HONOLULU – May 16, 2024 – The Sheraton Princess Kaiulani, which sits on the former site of the Ainahau Estate and was once home to Hawaii’s beloved Princess Victoria Kaiulani, today announced the completion of the Ainahau Tower room refresh. The 664 guestrooms have undergone a thoughtful and extensive refresh, paying homage to Waikiki’s history and Princess Kaiulani’s fashion, celebrating the hotel’s historical grounds and natural landscapes, and breathing new life into the hotel’s original design. Among the highlights of th...
Leo De Leon Named Executive Chef and Director of Food and Beverage of Marriott Long Beach Downtown
Marriott Long Beach Downtown | May 16, 2024
LONG BEACH, Calif. – Twelve years of outstanding hospitality industry experience with Marriott Hotels® has led to the appointment of Leo De Leon as executive chef and director of food and beverage of the new 376-room Marriott Long Beach Downtown. In his dual role, De Leon oversees daily operations of the hotel’s dining program including in-room dining and customized on-site catering for meetings, weddings and special occasions. When complete in June 2024, Marriott Long Beach Downtown will introduce a fresh new dining venue Local Current, a stylish lobby market for grab-and-go fare and private Marriott Bonvoy members’ M Club – all u...
Cross Hotels & Resorts Launches Lumen in Bangkok’s Newest District
Cross Hotels & Resorts | May 16, 2024
Bangkok - Thailand, 16th May 2024 - Cross Hotels & Resorts proudly announces the launch of its new destination-centric brand, LUMEN, a hybrid hotel that amplifies the character of its neighbourhood and celebrates the community. The opening of Lumen Bangkok Udomsuk Station marks a paradigm shift in guest enhancement for Cross Hotels & Resorts as the company expands its portfolio with a vision to redefine the hospitality experience. At Lumen, the tagline “A Brighter Way to Stay” encapsulates the commitment to always create memorable stays for guests. Lumen Bangkok Udomsuk Station elevates every aspect of the guest experience with...
OUTRIGGER Kona Resort & Spa Is Reborn Following $60 Million Transformation
OUTRIGGER HOSPITALITY GROUP | May 16, 2024
The legendary resort enters a “new era” featuring reimagined spaces rooted in Hawaiian culture KONA, HAWAII – Amidst a $60 million investment, the 22-acre OUTRIGGER Kona Resort & Spa proudly introduces a revitalized resort that honors its storied history while embracing the dynamic essence of its namesake, Keauhou, meaning “New Current” or “New Era.” Keauhou, a place steeped in cultural significance as the birthplace of King Kamehameha III and adorned with myriad landmarks, sets the stage for an unparalleled experience. Situated atop cliffs overlooking Keauhou Bay, the iconic resort presents breathtaking ocean vista...
Waymore’s Guest House & Casual Club Appoints Avi Niego as New General Manager
PM HOTEL GROUP | May 16, 2024
Modus Hotels’ East Nashville Property Appoints Hospitality Veteran for Leadership Nashville, Tennessee (May 16, 2024) – Waymore’s Guest House & Casual Club is pleased to announce the appointment of Avi Niego as the new general manager. With over 18 years of leadership in the hospitality industry, Niego brings a wealth of experience managing lifestyle hotels, mixed-use properties, and innovative food and beverage concepts across the country. In his new role, Niego will cultivate an atmosphere that celebrates the hyperlocal community of East Nashville, positioning Waymore’s as the premier destination in the heart of Nashville'...
Marriott International Celebrates the 2024 J. Willard Marriott Awards of Excellence Honorees
Marriott International | May 16, 2024
Annual ceremony honors Marriott associates for exemplary achievements and outstanding service to communities, guests and each other Marriott International is proud to celebrate the winners of the 2024 J. Willard Marriott Awards of Excellence at the company’s annual ceremony, which brought together associates from around the world. Established in 1987 and named after Marriott’s founder, the J. Willard Marriott Awards of Excellence honors the company’s finest associates who are recognized for their achievements, service mindset, and commitment to excellence. At the awards ceremony, the 10 individual winners, three Marriott properties ...
Drive More Bookings: Innovative Strategies for Hotel Landing Pages
Lodging Interactive | May 16, 2024
For the past 25 years, it has become evident that most hotels fail to adequately capitalize on opportunities presented by seasonal holidays and event business drivers. The lack of optimization of these revenue opportunities is due in part to two factors: (1) the DOSM simply doesn’t have enough time and resources to organize marketing materials, and (2) the hotel’s website lacks the ability to create marketing landing pages ‘on the fly,’ which rings especially true for branded properties. Today, potential guests are overwhelmed with endless social media distractions; hotels must cut through the noise and guide potential guests strai...
Hoteliers Prioritize Personalization as They Significantly Increase Investment, Finds New Amadeus Research
Amadeus | May 16, 2024
New study reveals sector plans to increase investment in technology by 16% in the coming twelve months Personalization viewed as a key driver of commercial value for hoteliers, as 85% of hoteliers feel it could help deliver in excess of 5% in incremental revenue The new report, Travel Technology Investment Trends 2024, published today from Amadeus finds hoteliers expect to increase their investment in technology by an average of 16% over the coming 12 months, with one in five planning to invest over 20% more than they did last year. The findings are the result of a survey of global senior hospitality leaders representing a div...
Introducing: Jonas Hospitality Unified Platform, a Technology Platform for All Your Hotel Management Needs
Jonas Hospitality | May 16, 2024
Jonas Hospitality is excited to share the launch of Jonas Hospitality Unified Platform, a full-featured suite of technology solutions that helps independent hotels, resorts, hotel brands, chains as well as management companies, manage operations, revenue, distribution, and marketing. Jonas Hospitality Unified Platform brings together our brand’s industry-leading technologies, connected by our proprietary integration engine, Jonas ARC. This integration allows key guest, stay, and financial data to securely pass between systems within the Jonas Hospitality Unified Platform and third-party systems. “We are excited to launch Jonas Hospi...
Sydney Hotels Saw Improved Performance in April
CoStar Group | May 15, 2024
WASHINGTON – 15 May 2024 – Sydney's hotel industry recorded year-over-year increases in each of the three key performance metrics, according to April preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. April 2024 (year-over-year % change): Occupancy: 72.6% (+7.1%) Average daily rate (ADR): AUD247.70 (+0.2%) Revenue per available room (RevPAR): AUD179.86 (+7.3%) The market’s highest daily occupancy levels were seen on the night of the first IMA MEAPAC Summit held in Sydney (Wednesday, 10 April: 86.7%), closely followed by th...
Four Seasons Hotel Toronto Unveils Multimillion-Dollar Guestroom Renovation
Four Seasons | May 15, 2024
Four Seasons Hotel Toronto announces the completion of an extensive, multimillion dollar guest room renovation, enhancing the luxury experience for its guests from around the world. With a focus on elevating comfort, functionality, and aesthetic appeal, the redesign encompasses all 259 guest rooms including 42 suites within the Hotel. “We have an unwavering commitment to providing guests and residents with the best luxury experience in Toronto, and this fresh, holistic update has surpassed all expectations,” states Shahid Khan, owner of Four Seasons Hotel Toronto. “We ensured that every detail was considered, and refined many iter...
Cvent Announces Top Meeting Destinations and Hotels Worldwide for 2024
Cvent | May 15, 2024
The industry-acclaimed annual rankings recognize the top-performing hotels for group business, as well as the world’s most coveted meeting and event destinations TYSONS CORNER, VA & Frankfurt, DE – May 15, 2024 – Cvent, an industry-leading meetings, events, and hospitality technology provider, today announced its lists of the Top Meeting Destinations and Top Meeting Hotels worldwide. These annual lists – which are issued regionally for North America, Europe, Asia-Pacific, and the Middle East & Africa – are informed by sourcing activity through the Cvent Supplier Network, one of the world’s largest venue-sourci...
