April 3, 2024
Hotel News ResourceIHG Hotels & Resorts announced 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 ahead of welcoming guests […]
April 2, 2024
Restaurant DiveDelight Restaurant Group, founded by managing partners Andrew and Richard Krumholz in 2016, previously acquired nearly 100 Wendy’s restaurants in 2021. That year, it grew its presence in Raleigh, North Carolina, after buying 54 units from bankrupt NPC International and […]
April 1, 2024
Hotel News ResourceAnd when it comes to data, there’s no source more important than your Property Management System (PMS). Your PMS is the beating heart of your hotel operations, tracking everything from reservations and check-ins to hotel room rates and billing. But […]
April 1, 2024
Hotel News ResourceWhile the future holds much promise, the rising operational costs pose a significant issue. From labour costs and food prices to energy bills, hotels must find ways to manage expenses and maintain profitability without compromising on quality. Given the current […]
March 29, 2024
Hospitality DesignThe George Hotel has opened its doors within Georgetown, South Carolina’s historic district. Developed and owned by Winyah Hospitality and operated by the Indigo Road Hospitality Group, the waterfront property features 56 guestrooms and suites alongside a full-service restaurant, bar, […]
Finance and Development, Financial
March 28, 2024
Hotel News ResourceThe Savoie and Haute-Savoie regions alone have seen hotel transaction volumes double over the past two years, breaking records with more than €800 million ($875 million) of hotel deals closed, JLL data shows. “Due to the warming climate, and limited […]
Finance and Development, Markets
March 27, 2024
Hotel News ResourceTop-Line Metrics (February 2024, percentage change from February 2023): Occupancy: 58.9% (-1.8%) Average daily rate (ADR): US$158.23 (+3.9%) Revenue per available room (RevPAR): US$93.19 (+2.0%) Key points February produced modest RevPAR growth, reflecting the continued return to low single-digit gains. […]
March 26, 2024
Hotel News ResourceWhen it comes to hotel development across Africa in 2024, just five words tell the story, “Egypt and the Big 5”. In this context, “the Big 5” does not refer to Africa’s major wildlife attractions, (lion, leopard, rhinoceros, elephant and […]
March 25, 2024
Hospitality DesignGlobal hospitality company Aman is bringing a new destination to the United Arab Emirates (UAE). Aman Dubai will occupy a shoreline property with an expansive private beach and nine acres of gardens. Along with an all-suite hotel, it will feature […]
Finance and Development, Trends
March 25, 2024
Hotel News ResourceRecent studies have proven that employees can be a major source of competitive advantage, but they must be managed effectively and considerately to reap those benefits. The industry presents unique challenges for employees and managers, such as long working hours, […]
Finance and Development, Markets
March 22, 2024
Hotel News ResourceSTR’s global “bubble chart” update as of 9 March 2024 shows that 77% of markets increased revenue per available room (RevPAR) from the comparable period in 2023, which was 4% more than the last update. Occupancy and average daily rate […]
Finance and Development, Markets
March 21, 2024
Hotel News ResourceU.S. hotel performance increased from the previous week but showed continued declines year over year, according to CoStar’s latest data through 16 March. 10-16 March 2024 (percentage change from comparable week in 2023): Occupancy: 66.5% (-1.4%) Average daily rate (ADR): US$163.21 […]
March 20, 2024
Hotel News ResourceFollowing the opening in Naples, Margaritaville announces an expansion of the brand’s Compass by Margaritaville collection of boutique hotels. Offering the same lifestyle guests know and love in a smaller, more intimate footprint, openings include: Naples, FL (Opened March 2024) – The […]
March 19, 2024
Hotel News ResourceHilton (NYSE: HLT) today announced plans to expand its presence in Italy, with the signing of three hotels under its Tapestry Collection by Hilton brand. With properties planned in Rome, Naples and Perugia, the hotels will join the existing 36 […]
Finance and Development, Trends
March 18, 2024
Hotel News ResourceIn the recently released HSMAI Foundation Special Report: The State of Hotel Sales, Marketing, and Revenue Optimization Talent 2023-2024, the second trend investigates how the gig economy and fractional staffing models are changing talent sourcing. Employers in the hospitality industry […]
March 18, 2024
Hospitality DesignGlobal hospitality group Noble 33 is joining forces with Super Bowl champions Travis Kelce and Patrick Mahomes to launch 1587 Prime—a name in inspired by the jersey numbers of the two Kansas City Chiefs stars. Crafted by Noble 33’s in-house […]
March 15, 2024
Hotel News ResourceIndian Hotels Company (IHCL), India’s largest hospitality company, today announced the opening of Scenic Munnar – IHCL SeleQtions hotel in Kerala. Nestled amidst lush emerald hills, the city beckons tourists with its natural beauty. Commenting on the opening, Mr. Puneet […]
Finance and Development, Trends
March 14, 2024
Hotel News ResourceAccording to BCD Travel’s Cities & Trends Europe 2023 edition, Amsterdam and New York are the most visited cities for European business travelers. The most popular countries are Germany and the United States. The report is based on BCD flight and […]
Finance and Development, Markets
March 13, 2024
Hotel News ResourceThe travel and tourism sector witnessed the announcement of 93 deals* globally during the first two months of 2024, an year-on-year (YoY) decline of 22.5% compared to the announcement of 120 deals during the same period in 2023, reveals GlobalData. […]
Finance and Development, Markets
March 12, 2024
Hotel News ResourceA series of events pushed all-time high occupancy levels in Dubai, according to February preliminary data from CoStar. February 2024 (year-over-year % change): Occupancy: 90.8% (+3.4%) Average daily rate (ADR): AED887.06 (+9.3%) Revenue per available room (RevPAR): AED805.21 (+13.1%) Read […]