Analysis-Companies Boost Social and Climate Reporting Amid ESG Backlash
November 4th, 2024
Trinity Investments, Funds Managed by Oaktree Capital Management, and Funds Managed by UBS Asset Management Acquire Park Hyatt Zurich
Trinity Investments | April 4, 2024
The acquisition marks Trinity’s entry into Europe and extends relationships among the three firms LONDON--A joint partnership among Trinity Investments (“Trinity”), funds managed by Oaktree Capital Management (“Oaktree”), and funds managed by UBS Asset Management’s Real Estate & Private Markets Multi-Managers business (“UBS AM REPM MM”) has acquired Park Hyatt Zurich, a 138-key luxury hotel with ancillary office and parking elements. The joint partnership purchased the hotel from an affiliate of Hyatt Hotels Corporation, and the hotel will remain branded as Park Hyatt Zurich under a long-term management agreement with...
The Singer Oceanfront Resort, Curio Collection by Hilton Appoints Stuart Levy as General Manager
The Singer Oceanfront Resort, Curio Collection by Hilton | April 4, 2024
SINGER ISLAND, FLA. (April 4, 2024) - A reimagined beach escape, The Singer Oceanfront Resort, Curio Collection by Hilton is pleased to announce the appointment of Stuart Levy as its new general manager ahead of the property’s forthcoming transformative, multimillion-dollar renovation. A seasoned hospitality leader with a passion for fostering meaningful relationships and driving growth within the hospitality sector, Levy brings decades of experience leading full-service properties to the role. “Since a young age, I have dedicated my career to providing exceptional guest experiences, and I am excited to bring my expertise in hotel mana...
The Future of Hotel Distribution Channels: Seizing Opportunity in Channel Disruption
Jochen de Peuter-Rutten | April 4, 2024
By Jochen de Peuter-Rutten, Youri Sawerschel The hotel distribution channel landscape is undergoing a seismic shift. Online travel agencies (OTAs) that once leveled the playing field for independent properties now dominate, their economic muscle squeezing hotel margins. Metasearch engines commoditize the search experience, making standalone properties indistinguishable. Meanwhile, the growth in alternative lodging threatens hotels' grip on the accommodations sector. Yet within this disruption lies opportunity for savvy hoteliers. Emergent technologies now enable hotels to tailor the guest experience as never before. Strategic partnershi...
2023 European Hotel Transactions
Matthias Hecht | April 4, 2024
By Matthias Hecht, Serena Yang, Gauthier Champlong Introduction High inflation and consequential rises in interest rates had major impacts on investment markets throughout 2023, including slowed hotel transaction activity in Europe. Reaching €10.7 billion overall[1] , total volume was 19% lower than in 2022, which represented the second lowest level of investment in the last decade. There were 6% fewer transactions than in 2022, indicating that the average price per room was also down in 2023. Source: HVS – London Office Total Transaction Volume Chart 1: Total Assets Average Price Per Room 2015-23 Source: HVS ...
Riding the CFO Roundabout: Securing Hospitality’s Financial Leadership Future
Bill Conn | April 4, 2024
By Bill Conn CFOs are on the move. Since 2022, the hospitality sector has witnessed a dramatic shift in its financial leadership environment. Data shows that during the first six months of 2023, 103 CFO (Chief Financial Officer) changes occurred in Fortune 1000 companies.[1] This number represents a 30% increase from the 79 changes in the same period in 2022. From a hospitality perspective, this CFO “carousel” and the high demand in 2023 for CFOs and other finance executives is unlike anything the industry has ever experienced. The demand for top talent has risen across all disciplines, but 2023 was definitely the year of the CFO. Sur...
HFTP’s New HITEC Technology Investment Conference Takes Shape, Co-Located With HITEC 2024
HFTP | April 4, 2024
Austin, Texas (April 4, 2024) — Hospitality Financial and Technology Professionals (HFTP®) is inviting 200+ participants to its new HITEC Technology Investment Conference, an event designed to provide investors with a comprehensive understanding of the hospitality technology landscape and the companies who contribute to it. Scheduled for June 27–28 in Charlotte, North Carolina, the conference will be co-located with the 2024 Hospitality Industry Technology Exposition and Conference (HITEC®) where 325+ companies, from start-ups to established global brands, will present the latest innovative technology solutions to the hospitality ...
U.S. Travel Welcomes Fred Dixon as CEO of Brand USA
U.S. Travel Association | April 4, 2024
WASHINGTON (April 3, 2024)—U.S. Travel Association President and CEO Geoff Freeman issued the following statement on the announcement of Fred Dixon as incoming president and chief executive officer of Brand USA, America’s travel marketing organization: “Fred Dixon is a world-class destination marketing professional with a keen eye for talent and successful marketing strategies. His 20-plus year experience in New York City and focus on metrics, accountability and achieving ambitious goals are critical attributes as Brand USA writes its next chapter. “Fred’s deep relationships across the business community and throughout the tr...
St. Louis Leads in Growth for Meetings Madness in March, According to Knowland Data
KNOWLAND | April 4, 2024
An early Easter and the accompanying spring breaks bring a decrease of 8.1 percent in March meetings ARLINGTON, Va. — April 4, 2024 — Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, reported that the St. Louis, Mo.-Ill. market led the top 25 markets in March for meetings and events growth with 24.3 percent year-over-year growth. Las Vegas came in second with 20.9 percent growth. National Association and Education groups led in four of the five top markets. This data is sourced from Knowland’s sales intelligence platform and designed to help hoteliers protect and grow th...
Laguna Cliffs Marriott Resort & Spa Appoints Ben Ly as New General Manager
Laguna Cliffs Marriott Resort & Spa | April 3, 2024
DANA POINT, CALIF. (April 3, 2024) – Laguna Cliffs Marriott Resort & Spa, a picturesque resort on the California coastline and Dana Point Harbor, is pleased to announce the appointment of Ben Ly as the new General Manager of the AAA Four Star property, set high on a bluff overlooking the Pacific Ocean. A 20-year veteran with Hilton Hotels, Ly brings a wealth of experience and leadership to Laguna Cliffs, managed by Aimbridge Hospitality, the world’s leading global hospitality management company. Through his two decades in the industry, Ly has demonstrated exceptional leadership skills and a profound understanding of luxury hospital...
The Westin Grand Cayman Seven Mile Beach Resort & Spa Appoints Andre Blasczak as Executive Chef
Westin Grand Cayman Seven Mile Beach Resort & Spa | April 3, 2024
Grand Cayman, Cayman Islands – (April 3, 2024) – The Westin Grand Cayman Seven Mile Beach Resort & Spa proudly announces the appointment of Andre Blasczak as the new Executive Chef. Blasczak brings over two decades of culinary expertise to the acclaimed resort, promising an innovative and elevated dining experience for all guests. With an illustrious career spanning prestigious establishments globally, Blasczak is renowned for his culinary creativity and commitment to excellence. Blasczak’s passion for hospitality and fine dining began as a child when his family owned and operated a hotel in his native country of Brazil. His love...
Accor Signs With EBU Estate Developers for New Sofitel Jaipur Jawahar Circle in India
Accor | April 3, 2024
Jaipur, India – April 3rd, 2024 - Accor, a world-leading hospitality group, is proud to announce the signing of a partnership agreement with EBU Estate Developers Private Limited for the development of a Sofitel hotel in India, the Sofitel Jaipur Jawahar Circle. This new-build luxury hotel is scheduled to open its doors in 2028 and promises to redefine hospitality in the vibrant city of Jaipur. Strategically located at Jaipur’s Jawahar Circle, the hotel will feature 275 exquisitely designed and spacious rooms, each offering the utmost comfort for guests. Joining Sofitel, the only French luxury hotel brand with a truly international foo...
ONYX Hospitality Group Expands Shama Portfolio With Signing of Shama Rayong
ONYX Hospitality Group | April 3, 2024
London - 3 April 2024 - ONYX Hospitality Group, the leading hospitality management company, is delighted to announce the expansion of its renowned Shama brand with the launch of Shama Rayong, capitalising on the demand for serviced apartments. The signing ceremony took place on 1st April 2024 at Amari Bangkok, with the new property expected to welcome its first guests from Q1 2026. Shama Rayong marks a significant milestone for the brand and expanding its footprint in Thailand. The company recognises the increasing demand for serviced apartments, particularly in the post-pandemic era, and is confident that this new addition will be a w...
World of Hyatt Expands in Oklahoma City With Fordson Hotel, Now Part of The Unbound Collection by Hyatt
Hyatt Hotels Corporation | April 3, 2024
The history infused Fordson Hotel marks The Unbound Collection by Hyatt brand’s first foray into the Sooner State CHICAGO (April 3, 2024) – Hyatt Hotels Corporation (NYSE:H) announced today that Fordson Hotel, an industrial revolution-inspired property nestled in Oklahoma City’s emerging West Village District, has officially joined World of Hyatt and The Unbound Collection by Hyatt brand. Owned by Hall Capital and managed by Avion Hospitality, Fordson Hotel is housed in the former Ford Motor Company Assembly Plant, which dates back more than a century and is listed on the National Register of Historic Places. The property brings ...
Hilton Acquires Majority Controlling Interest in Sydell Group to Expand NoMad Hotels Brand Worldwide
Hilton | April 3, 2024
Brand marks Hilton’s debut in fast-growing luxury lifestyle category MCLEAN, Va. and MIAMI – Hilton (NYSE: HLT) today announced it has acquired a majority controlling interest in Sydell Group (“Sydell”) to expand the NoMad Hotels brand from its existing London flagship location to high-end markets around the world. The addition of NoMad to Hilton’s brand portfolio marks the global hospitality leader’s entry into the fast-growing luxury lifestyle hotel market with a meticulously designed brand defined by exceptional food and beverage, interior design and service. Over the last decade, Sydell, led by founder Andrew Zobler, h...
10 Booking Trends & Stats That Every Hotelier Should Know to Drive Guest Experience and Revenue in 2024 and Beyond
Andrew Rubinacci | April 3, 2024
By Andrew Rubinacci Many of us grew up on the precipice of a new digital era, an inflection point after which innovations seemed to multiply to uncover possibilities that our younger selves might have dismissed as fit for a more distant future—if we imagined them at all. In 2024, innovation seems to be waiting around every corner, and no industry is exempt from its influence and subsequent transformation. The hospitality industry is now in an undeniably important state of flux: a widespread upheaval of legacy processes and platforms to make room for big tech and big ideas. Although hotel service will always have traditional roots and ...
IHG To Open voco Seoul Myeongdong in South Korea Following Rebranding
IHG | April 3, 2024
voco Seoul Myeongdong to welcome guests by the middle of this year Seoul, South Korea – 3 April 2024: IHG Hotels & Resorts, one of the world’s leading hotel companies, is proud to announce the signing of voco Seoul Myeongdong in partnership with Gravity Asset Management’s Seoul South Gate Hotel Operations Company and Hotel HDC Co., Ltd. The 576-room property will be rebranded as voco – IHG’s fastest growing premium brand – ahead of welcoming guests by the middle of this year. It will be IHG’s second voco property in South Korea, following the successful brand debut of voco Seoul Gangnam in 2022. Offering though...
Why Prioritize Attribute-Based Shopping in 2024
Adam and Larry Mogelonsky | April 3, 2024
By Adam Mogelonsky, Larry Mogelonsky Exploring the significance of attribute-based selling (ABS) for 2024 requires a nuanced understanding, particularly in light of pivotal events shaping the hospitality landscape. Consider the landmark moment in early December 2020: the much-anticipated Airbnb IPO, which saw the home-sharing platform soar to a staggering $100+ billion market capitalization on its opening day. This valuation surpasses that of industry giants like Booking Holdings and major hotel brands combined, underscoring Airbnb's dominance and offering key insights into evolving traveler behaviors. While some may dismiss Airbnb's st...
KSL Resorts Appoints Greg Kennealey as New Chief Executive Officer
KSL Resorts | April 3, 2024
Greg Kennealey to Head Leading Hospitality Company IRVINE, Calif. – KSL Resorts (KSLR) announced today the appointment of industry leader Greg Kennealey as its new chief executive officer. In his new position, Kennealey takes charge of overseeing the operation, development and strategic direction of KSLR and its growing portfolio of resort properties. Kennealey succeeds Scott Dalecio, who will step down as CEO but continue as a senior advisor to KSLR and executive chairman of Outrigger Resorts & Hotels. A former principal and head of hospitality at KSL Capital Partners (KSLCP), a global leader in hospitality, travel and leisure in...
High Cost of Borrowing Contributes to 19% Fall in European Hotel Transactions in 2023, Says HVS Report
HVS | April 3, 2024
03 April 2024, London: High inflation and interest rate rises had a major impact on the European hotel investment market last year, slowing transaction activity and taking volumes 19% lower than in 2022, the second lowest level of investment in the past decade, according to the HVS European Hotel Transaction Report from global hotel consultancy HVS London and its hotel brokerage arm HVS Hodges Ward Elliott. Transaction volume across Europe reached €10.7bn, with 388 hotels* changing hands – and an average price per hotel that was 9% lower than in the previous year, although significantly ahead of the transaction volume in the year...
Cornell Study Shows How Tax Reform Could Boost Hospitality Investment
AHLA | April 3, 2024
WASHINGTON (April 3, 2024) – The Tax Relief for American Families and Workers Act of 2024, H.R. 7024, could provide substantial tax relief to hotels across the country, incentivizing investments in renovations and property upgrades, according to a Cornell University study commissioned by the American Hotel & Lodging Association. The study, conducted by Cornell’s Center for Hospitality Research, highlights how hotels of all sizes and service levels stand to benefit from H.R. 7024’s provisions to extend 100% bonus depreciation and expand deductibility of business interest. The bipartisan bill to temporarily extend these provisi...
Successfully Fielding Legitimate Guest Complaints AND How to Stop the “Full Refund Scammers”
Doug Kennedy | April 3, 2024
Sponsored By Travel Outlook, Better Talent, and Track Hospitality Software Register your team and participate live, or view the recording, of Doug Kennedy’s next 40-minute training webcast scheduled for Friday, April 19, from Noon – 12:45pm EST. REGISTER HERE “While the vast majority of guests who complain simply want to be heard and have their issues resolved, a small but vocal minority intentionally seek out issues they can use to argue for compensation, discounts, or even a full refund,” said KTN President Doug Kennedy. “Unfortunately, untrained staff and first-level supervisors cave all too easily, and worse yet, grow cyn...
ASSA ABLOY Acquires Messerschmitt Systems
ASSA ABLOY Global Solutions | April 3, 2024
Latest acquisition adds a wide range of access control and intelligent room control systems to the ASSA ABLOY Global Solutions’ portfolio under the Vingcard brand, part of business area Hospitality. Stockholm –April 3, 2024 –ASSA ABLOY Global Solutions is now announcing the acquisition of Messerschmitt Systems, an internationally renowned manufacturer of access and room control hardware and software. Founded in Germany in 1985, Messerschmitt Systems specializes in serving the needs of hotels, with its solutions able to seamlessly integrate with the leading PMS platforms in use by today’s industry businesses. Messerschmitt Systems wi...
Sky Rock Sedona, Tribute Hotel by Marriott, Debuts as Sedona’s Newest Boutique Hotel
Sky Rock Sedona | April 2, 2024
SEDONA, AZ. (April 2, 2024) – Sky Rock Sedona officially announces today its debut following an extensive property-wide transformation and transition to a Tribute Portfolio hotel by Marriott. Managed by Remington Hospitality, the 109-room boutique hotel and buzzy dining hotspot, Bar WooWoo, joins Tribute Portfolio’s growing global family of characterful, independent hotels drawn together by their passion for captivating design and their drive to create vibrant social scenes for guests and locals alike. “We are incredibly excited to welcome guests to the new Sky Rock Sedona and serve as a portal into the destination for guests with ...
TradeWinds Island Resorts Names Kerry Mitruska Director of Sales & Marketing
TradeWinds Island Resorts | April 2, 2024
PETE BEACH, Fla. (Apr. 2, 2024) – The TradeWinds Island Resorts – the Island Grand Resort and RumFish Beach Resort – located along 40 acres of sugary white beach on the island of St. Pete Beach, Florida, has announcedKerry Mitruskaas Director of Sales & Marketing. In this position, Mitruska will develop and lead new business opportunities for the popular beachfront landmark. He will also support prospective accounts and mentor and collaborate with inside sales team members. A member of the resort executive team, Mitruska will maintain relationships with area visitor bureaus, travel agents, meeting planners, and other travel trade in...
