Everything you wanted to know about buying and selling hotels.
The boutique hotel market is expected to reach $18 billion by 2033, driven by growing demand for personalized, tech-enhanced travel experiences. AI-powered services, sustainability efforts, and unique accommodations are reshaping the industry, catering to both business and leisure travelers.
Marriott's Moxy Hotels debuts in Chongqing, blending playful design with the city's vibrant culture. Located near iconic landmarks, the hotel offers stylish, space-efficient rooms and a lively social hub, Moxy Bar, providing guests with a fun, immersive experience.
Global hotel investment hit $5.7 billion in the first half of the year, up 19%, driven by a tourism resurgence in the Asia-Pacific region. Japan, Thailand, and China are leading markets, with Japan attracting cross-border investors due to favorable market conditions. Investment volumes are expected to reach $11.6 billion by year-end.
Marriott International has signed a long-term licensing agreement with Sonder Holdings, expected to add over 10,500 apartment-style rooms to its portfolio under the new "Sonder by Marriott Bonvoy" brand. This expansion boosts Marriott's offerings in key urban markets, with full integration into its Bonvoy loyalty program by 2025.
Supporting LGBTQ+ employees on international business trips is essential for their safety and comfort. Companies should provide inclusive travel resources, research destination-specific laws, plan accommodations with care, respect individual privacy, and offer cultural training to ensure a supportive and secure experience abroad.
Marriott International has opened its 9,000th property, **The St. Regis Longboat Key Resort** in Florida. This luxurious beachfront destination features 168 guest rooms, 69 private branded residences, and offers stunning ocean views and world-class amenities. The milestone opening underscores Marriott’s leadership in luxury hospitality and its continued global expansion, with a robust pipeline of future projects.
Accor has renewed partnership agreements for over 40 hotels across Australia, representing 5,500 rooms. With over $450 million invested in upgrades since 2022, Accor strengthens its long-term relationships and continues to support local hotel owners through an extensive operational network.
As market dynamics evolve across Europe, Spain has emerged as the top destination for hotel investment, surpassing the U.K. Major cities like Madrid are drawing investors with favorable property prices and government support for tourism, while underdeveloped regions like Albania offer new opportunities for growth. Established brands and new players alike are repositioning assets, driving expansion across the continent.
Hotel housekeepers work tirelessly behind the scenes to ensure our stays are spotless and comfortable, yet they often go unrecognized. Their physically demanding jobs, long hours, and dedication make them the unsung heroes of the hospitality industry. It’s time we give them the respect, fair wages, and appreciation they deserve.
Over 10,000 hotel workers across major U.S. cities have gone on strike during Labor Day weekend, seeking wage increases and a reversal of pandemic-related cutbacks. The action, led by the Unite Here union, is disrupting operations in cities like San Francisco, Boston, and Honolulu, as workers push back against increased workloads and stagnating pay amid the hospitality industry's post-pandemic recovery.
Three (3) Super 8 Hotels| ONTARIOHIGHLY CONFIDENTIAL
Otto, a startup developing an AI-powered travel assistant, has raised $6 million in seed funding led by Madrona Ventures and supported by Direct Travel and notable angel investors. The platform aims to personalize business travel by learning travelers' preferences and integrating with existing travel services. Otto’s technology is expected to revolutionize the travel experience, offering smarter and more efficient planning and booking solutions.
The rise in wellness tourism is boosting hotel revenue, with the Wellness Real Estate Report 2024 showing clear benefits. Major wellness hotels achieve higher ADR and TRevPAR but face higher costs, while Minor wellness properties see significant growth in RevPAR and TRevPAR with better cost efficiency. As wellness programs evolve, they are proving essential for enhancing guest satisfaction and driving profitability in the competitive hospitality sector. Wellness initiatives are increasingly crucial for hotel revenue, enhancing both guest experiences and profitability.
Mastering seasonal trends in group and event planning is key for hospitality businesses to boost sales and efficiency. By aligning with peak booking periods and leveraging AI-driven tools, hotels can optimize operations and deliver exceptional guest experiences year-round.
AI is revolutionizing labor management in the hospitality industry by providing real-time data analysis, predictive insights, and automated budgeting, helping hotels optimize staffing, enhance guest experiences, and control costs.
Hyatt Hotels reported strong Q2 2024 results, with a 4.7% rise in system-wide RevPAR and a 4.6% net room growth. Net income reached $359 million, and the company achieved record fee revenue of $275 million. Hyatt's asset-light strategy continues to fuel expansion, with a pipeline of 130,000 rooms and significant growth in its World of Hyatt loyalty program. Full-year projections remain positive, with continued focus on shareholder returns and global growth initiatives.
Organic social media remains a vital tool for hotels, fostering genuine connections, enhancing brand identity, and offering cost-effective ways to reach local and niche audiences. By creating authentic, engaging content, hotels can drive bookings and amplify their reach without the need for paid ads. The potential for viral content further emphasizes the enduring value of organic social media in the hospitality industry.
Apple Pay is revolutionizing the hospitality sector, offering a secure and convenient payment method for guests. With over 600 million users globally, it’s driving the shift to mobile payments, increasing guest satisfaction, and boosting hotel revenue. Hoteliers who embrace this technology stand to gain through streamlined operations, higher guest spending, and enhanced security.
FHS World 2024 is set to take place from September 30 to October 2 in Dubai, bringing together over 1,500 hospitality leaders. The event will feature groundbreaking discussions on investment, innovation, sustainability, and wellness, with 110+ speakers and new features like the Branded Residences Forum and Country Pavilions.
To impress VIP guests, start by thoroughly researching their preferences and securing the best availability using your network and negotiation skills. Confirm the booking with a personal touch, prepare their room with tailored amenities, and offer a warm, seamless welcome. Follow up throughout their stay to ensure they have a memorable experience, and invite them back for future visits.
