Analysis-Companies Boost Social and Climate Reporting Amid ESG Backlash
November 4th, 2024
HVS Las Vegas Casino and Hotel Market Outlook 2024
Shannon S. Okada | April 16, 2024
By Shannon S. Okada Las Vegas continues to evolve, with billions of dollars being spent on the development of new world-class venues in recent years. The market hosted 40.8 million visitors in 2023, exceeding the 40.0 million visitor threshold for the first time since 2019. Gaming revenue for Clark County in 2023 was $13.5 billion, which set a market record for the second straight year. In 2023, occupied room nights, as well as total occupancy (83.5%), continued to lag 2019 performance; however, like gaming revenue, the market’s ADR ($191.29) and RevPAR ($159.73) for 2023 reached record levels for the second year in a row. As Las Vegas l...
Choosing the Right Hospitality Suite – A Changing Landscape
Joe Vargas | April 16, 2024
By Joe Vargas Over the last couple of decades, hoteliers have been faced with two main options when upgrading hospitality management software: Acquire new point solutions that address specific challenges or adopt an integrated platform that manages multiple functions in one place. Another factor that hotels now must consider is whether to maintain legacy, on-premise systems or modernize software with the cloud. Tech-forward hoteliers know that moving to the cloud is inevitable to succeed in this competitive industry—it’s just a matter of when and how. Still, many hotels struggle to progress past legacy property management systems. T...
ASSA ABLOY Acquires Axxess Industries
ASSA ABLOY Global Solutions | April 16, 2024
Additions to solution portfolio include Axxess’ innovative Electronic Do-Not-Disturb systems, Doorbells, Keypads, Lighting Controls, Curtain Controls, Guest Presence Detections and more - each designed to create the ultimate Smart Hotel experience. Stockholm – April 16, 2024 – ASSA ABLOY Global Solutions is announcing the acquisition of Axxess Industries Inc., a renowned innovator of electronics and smart technologies engineered for the needs of hotel and residential environments. Axxess’ solutions will be offered alongside the offerings of Vingcard, the main brand for ASSA ABLOY Global Solutions’ business area Hospitality, promoti...
Amadeus Brings Personalization, Choice, and Flexibility to the Forefront of the Hotel Tech Stack With Expanded iHotelier® Suite
Amadeus | April 16, 2024
The latest innovation to Amadeus’ leading reservations system and booking engine will address hoteliers’ top goals and challenges with a “build-your-own” suite of solutions model April 16, 2024 – As the hospitality industry continues to evolve, the rising need for personalization serves as a powerful indication that new strategies are essential to elevate the customer experience and unlock untapped revenue potential. Just as guests expect their preferences and challenges to be addressed immediately and accurately, hotels too are seeking innovative solutions to meet these demands effectively. In response to this growing trend, Am...
Penn State’s Master of Professional Studies in Hospitality Management Elevates Careers in Hospitality
Penn State School of Hospitality Management | April 16, 2024
UNIVERSITY PARK, Pa. — The Penn State School of Hospitality Management is accepting applications for its Master of Professional Studies in Hospitality Management for the fall 2024 semester. The program helps professionals gain in-demand skills and leadership experiences that translate directly into hospitality management and upper-level management positions. Applications to start the program in fall 2024 are due by June 1. “Obtaining a graduate degree in hospitality management sets individuals apart in the field,” said Lori Walker, coordinator of the Penn State Master of Professional Studies in Hospitality Management program. “A...
Radisson Brand Enters Cape Town With the Newly Rebranded Radisson Hotel Cape Town Foreshore
Radisson Hotel Group | April 15, 2024
Brussels/Cape Town - 15 April 2024 - Radisson Hotel Group brings the renowned Radisson brand to South Africa's "Mother City" with the rebranding of Park Inn Cape Town Foreshore to Radisson Hotel Cape Town Foreshore. Strategically located just minutes away from the International Convention Centre (CTICC) and the famous Victoria & Alfred Waterfront, Radisson Hotel Cape Town Foreshore marks the Group's third Radisson property in South Africa. Positioned at the heart of Cape Town's city center, Radisson Hotel Cape Town Foreshore is the perfect destination for travelers visiting South Africa’s oldest city for both business and leis...
DiamondRock Hospitality Company Implements Leadership Changes and Simplified Organizational Structure
DiamondRock Hospitality Company | April 15, 2024
Jeffrey Donnelly Appointed Chief Executive Officer; Briony Quinn Appointed Chief Financial Officer; Justin Leonard Appointed President Appointments Capitalize on DiamondRock's Strong Bench and Proven Talent to Drive Continued Business Momentum Company Reaffirms 2024 Annual Guidance BETHESDA, Md., April 15, 2024 -- DiamondRock Hospitality Company (the "Company") (NYSE: DRH), a lodging-focused real estate investment trust that owns a portfolio of 36 premium hotels and resorts in the United States, today announced leadership changes and a simplified organizational structure to drive continued business momentum: Jeffrey Donnelly, previ...
Hotel Pipeline Activity Down Globally, Except in The Americas
CoStar Group | April 15, 2024
WASHINGTON – 15 April 2024 – The Americas is the only world region that showed a year-over-year increase in pipeline activity at the end of the first quarter, according to March 2024 data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. March 2024 (% change in comparison with March 2023): Europe In construction: 172,499 rooms (-6.8%) Final Planning: 99,744 rooms (-25.3%) Planning: 160,404 rooms (+3.1%) Total Under Contract: 432,647 rooms (-8.8%) Among countries in the region, Germany (28,500) led in construction activity, closely fo...
Partners Group Acquires a Strategic Minority Stake in Trinity Investments
Trinity Investments | April 15, 2024
LOS ANGELES--April 15, 2024--Partners Group, a leading global private markets firm, has agreed to acquire a strategic minority stake in Trinity Investments, a U.S. based hospitality-focused real estate investor, to support its future growth. Partners Group will initially target a U.S. $500 million investment with Trinity and will also have the opportunity to commit further capital to Trinity’s North American, European, and special situations investment platforms. Partners Group’s acquisition of a strategic minority stake in Trinity aligns with the firm’s strategy to invest in real estate operating companies in order to provide exposu...
Wyndham Alltra Opens Newest Resort on Coast of the Dominican’s Samaná Peninsula
Playa Hotels & Resorts N.V. | April 15, 2024
Unveils plans to expand all-inclusive footprint with signing of new Wyndham Alltra Punta Cana PARSIPPANY, N.J., April 15, 2024 -- Guests looking for a low stress, family-friendly getaway can now book and enjoy an idyllic, all-inclusive escape at the newly opened Wyndham Alltra Samaná. Located in the charming town of Las Galeras in the Samaná province of the Dominican Republic, the hotel boasts ocean views, pristine white sands and endless, all-day entertainment for all ages. Managed by Playa Hotels & Resorts, one of the world's leading all-inclusive operators, Wyndham Alltra Samaná marks Wyndham Alltra's first resort in Dominican...
Hilton Announces 2023 Americas Development Award Winners
Hilton | April 15, 2024
Today, Hilton revealed its 2023 Americas Development Awards which recognize the achievements of owners, development partners, and hotel teams in the Americas across several categories. These annual awards celebrate the resiliency and commitment of our owners and team members who spread the light and warmth of hospitality. “We are thrilled to celebrate our owner and development partners who are the recipients of the 2023 Americas Development Award,” said Danny Hughes, president, Americas, Hilton. “Over the last year, we’ve seen travel continue to grow across the Americas, creating even more opportunities for our partners to welco...
IHG and NOVUM Hospitality Sign Agreement That Doubles Presence in Germany, Launches Holiday Inn – the niu Collaboration, and Debuts Garner and Candl
IHG | April 15, 2024
IHG Hotels & Resorts (IHG) and NOVUM Hospitality announce a long-term agreement that will double IHG’s presence in Germany to more than 200 hotels in almost 100 cities through an exciting Holiday Inn – the niu brand collaboration and European debuts for IHG’s Garner and Candlewood Suites brands. The agreement with NOVUM Hospitality, one of Germany’s largest private hotel operators, owned by David Etmenan, will make IHG one of the leading players in midscale and upper midscale, and includes the following key elements: Up to 108 NOVUM Hospitality open hotels (15,334 rooms) and 11 hotels under development (2,369 rooms)...
Aligned Hospitality Management Expands Portfolio With The M Solvang in California
Aligned Hospitality Management | April 15, 2024
PHOENIX, AZ — April 15, 2024 — Aligned Hospitality Management, a leading third-party hotel management company, continues its impressive growth by adding The M Solvang to its esteemed portfolio. This marks the company's 25th property and its inaugural venture into the diverse California market. In recent years, Aligned Hospitality Management’s remarkable expansion has been marked by strategic acquisitions and diversification into new markets. The M Solvang joins a prestigious lineup of boutique properties in Aligned’s portfolio, including The Tuxon in Tucson, AZ, The Alice in Tucson, AZ, and The Sedona Collection in Sedona, AZ....
AHLA Rallies Industry in Support of Hotel Tax Relief
AHLA | April 15, 2024
WASHINGTON (April 15, 2024) – The American Hotel & Lodging Association (AHLA) today is leading an industry-wide Tax Day of Action in support of the Tax Relief for American Families and Workers Act, H.R. 7024. The Tax Relief for American Families and Workers Act would extend critical tax relief for hotels that would incentivize new investments in properties and employee hiring and help keep hoteliers competitive at a time of economic uncertainty. The bill passed the House in January with a broad, bipartisan vote and is currently pending in the Senate. The Tax Day of Action membership mobilization push complements AHLA’s consi...
Hospitality Asset Managers Association (HAMA) Releases Spring 2024 Conference Industry Outlook Survey Results
HAMA | April 15, 2024
NASHVILLE, Tenn., April 15, 2024—The Hospitality Asset Managers Association (“HAMA”) today announced the results of its Spring 2024 Industry Outlook Survey. The semi-annual report expressed the updated opinions, experiences and predictions of nearly 70 hotel asset managers on topics ranging from overall economic concerns to RevPAR predictions. Conducted in conjunction with HAMA'S 2024 Annual Spring Meeting that was held in Nashville, the results were presented to media live with a concluding Q&A session via online conferencing. In total, 68 asset managers, comprising approximately one-third of membership, participated in the s...
Cloudbeds Observes Shift Towards Longer Stays
Cloudbeds | April 15, 2024
Hospitality management platform Cloudbeds has observed a moderate (1%) uptick in medium-term stays globally in 2023, accompanied by a slight decline of 2% in short stays. The findings come from Cloudbeds’ 2024 ‘State of Independent Lodging Report’, which suggests the surge in three to four-night stays may be an indication of the rising popularity of “bleisure” or blended travel, as more travellers take advantage of the flexibility of remote work to extend their stays. The technology provider says the return of international tourism could also play a role in the shift towards longer stays, as inbound tourists tend to stay longer ...
Hospitality Financial Leadership: The Top 10 Cash Controls
David Lund | April 15, 2024
By David Lund Cash is King. That’s an old expression but it’s also one that still rings true today. Everyone likes cash even if we don’t carry so much with us personally anymore. It’s important to recognize that some people will help themselves to your cash if you let them. That might sound extremely clinical and you’re right it is, but it’s also a fact. The only way to minimize your risk is to have a set of controls in place to keep honest people honest and the less than trusty, on their back foot. That’s what this piece is all about – keeping more of what’s yours and making sure it’s properly controlled. Cash contr...
Grant Hart Promoted to Director of Sales at Fenway Hotel in Florida
Fenway Hotel | April 15, 2024
DUNEDIN, Fla. (April 15, 2024) – Mainsail Lodging & Development is thrilled to announce the promotion of Grant Hart to Director of Sales at the company’s historic Fenway Hotel in Dunedin, Florida. As Fenway’s Director of Sales, Hart will handle training and supervision of the sales and event planning team to generate and execute meeting business in the corporate, government, sports, and social market segments. Hart’s promotion marks an exciting new chapter for Fenway and highlights Mainsail’s commitment to fostering talent and driving excellence within the industry. “We’re thrilled to see Grant continue her success ...
Tourism Tidbits: Travel Ethical Review
Dr. Peter Tarlow | April 12, 2024
By Dr. Peter Tarlow It is not an exaggeration to state that the twenty-first century’s third decade has been one of challenges both for the tourism industry and for nations around the world. Security and safety issues, mixed with issues around energy, ecology, and sustainability have and will continue to play major roles in in the development of travel and tourism. These challenges do not pertain solely to the tourism and travel industry. The travel and tourism industries, however, are to a great extent dependent on disposable income. For example, when nations around the world face difficult economic hurdles these economic pro...
Redefining Business Mobility: Insights Into Travel and Office Trends for 2024
Charles Oswald | April 12, 2024
By Charles Oswald During his recent conversation with Ryan Embree for the Hospitality Trailblazers series on the Suite Spot podcast, President and CEO Charles E. Oswald talked through his trends and predictions for 2024. Here, Charles expands on those thoughts. In the ever-evolving business travel landscape, we observe significant shifts in market trends. Currently, there’s a general softening in leisure travel trends coupled with an improvement in business travel. These changes are critical as we adapt and strategize for the future. Key indicators that are paramount in our analysis include Office Utilization trends and Air Traf...
HITEC Announces Compelling Charlotte Headliner Sessions Schedule
HFTP | April 12, 2024
Hospitality Industry Technology Exposition and Conference (HITEC®) is stepping into its next era with three transformative Headliner Sessions in the form of Dr. Bryan K. Williams, Glenn Haussman, Anthony Melchiorri and another exciting installment of E20X. Produced by Hospitality Financial and Technology Professionals (HFTP®), HITEC Charlotte will take place from June 24-27 at the Charlotte Convention Center in Charlotte, North Carolina USA. “In a rapidly evolving industry like hospitality technology, the right keynote speakers aren't just voices on stage — they're the architects of our collective future,” says HFTP CEO Frank W...
U.S. Hotel Results for Week Ending 6 April
CoStar Group | April 12, 2024
WASHINGTON – 12 April 2024 – U.S. hotel performance showed mixed results from the previous week but positive comparisons year over year, according to CoStar’s latest data through 6 April. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 31 March through 6 April 2024 (percentage change from comparable week in 2023): Occupancy: 64.1% (+4.7%) Average daily rate (ADR): US$156.96 (+2.1%) Revenue per available room (RevPAR): US$100.59 (+6.9%) Among the Top 25 Markets, Philadelphia reported the largest year-over-year occupancy lift (+17.5% to 66.1%) and t...
Six Senses La Sagesse Grenada Debuts in the Caribbean
IHG | April 12, 2024
LA SAGESSE, Grenada – April 12, 2024 – This week marks the much-anticipated opening of Six Senses La Sagesse, the brand’s debut resort in the Caribbean. With a pride of place beachfront setting, verdant rolling hills and spacious accommodation, the resort’s location offers effortless access to Grenada’s shimmering reefs and mystical rainforests. The island’s incredible natural beauty and soul-connecting cultural experiences provide the perfect backdrop for a journey of discovery, rejuvenation and celebration. Thomas Fehlbier, General Manager, says: “Grenada is divided into six parishes, and La Sagesse, which is in the South...
Why Time Is the New Currency
Audrey Hall | April 12, 2024
By Audrey Hall “Time is money” is an often-repeated phrase attributed to Benjamin Franklin. When the aphorism was written, Franklin was pointing out that time spent not working was time not making money. Fast forward to today’s society and the value, or currency, no longer comes from the time spent working to achieve results, but on the time saved. When interacting with customers, the focus is no longer on spending more time working, but on being more efficient with time. In the context of the hospitality industry, by giving time back to guests, hotels not only extend value but increase loyalty with their customer base. The ...
