Market Trends

🏨 Key facts about starting a hotel business include planning, building guest loyalty, and staying competitive. The article lacks specific dates, locations, and statistical data, but was last updated on January 12, 2025. Written by Akanksha Mohapatra, it aims to guide entrepreneurs through the process of opening a hotel.

🎧 Listening bars, first emerging in Japan during the 1920s, have become a global trend. Kioku Bar in London's OWO hotel, designed by Pirajean Lees, offers a bespoke wood turntable for guests to play Japanese records. Bar Ton in Bucharest, created by Anda Zota and Muromuro Studio, merges historical architecture with modern design, featuring marble mosaic floors and a central DJ booth. In Sydney, the JAM Record Bar by Akin Atelier aims to mimic the interior of a pink speaker box and holds a library of 15,000 records. Brooklyn's Upstairs lounge, part of Public Records, is shaped for acoustic excellence. Goodbye Horses in London, by Leopold Banchini Architects, is crafted from a single oak tree, while Anima in Berlin is designed by Grzywinski+Pons with a focus on music lovers. Space Talk in London, by EBBA Architects and Charlotte Taylor, offers an eclectic interior with distinct sound and light zones.

📈 The US economy added 256,000 jobs in December, unemployment rate fell to 4.1%. Leisure and hospitality sector grew by 43,000 positions in December, with an average of 24,000 jobs added monthly in 2024, versus 47,000 in 2023. Eating and drinking places added 29,800 jobs in December, up from 23,200 in November. Overall, 172,500 net new jobs were created in 2024 at these establishments, down from 309,000 in 2023. The industry is now 1.4% above its February 2020 peak. Full-service remains 4% lower, while quick-service and fast-casual are 4% higher, and snack/beverage concepts 17% higher than pre-pandemic levels. Twenty-four states and DC have fewer jobs than in November 2019, while 26 states are above pre-pandemic employment. Average hourly earnings' growth slowed, with year-over-year wage growth at 3.8%, the lowest since May 2021.

🏡 Choice Hotels International rebrands Radisson with new logos for Radisson, Radisson Blu, and Radisson Individuals following 2022 acquisition. The repositioning targets the upscale and upper-upscale segments, with revamped identities reflecting each brand's heritage. Radisson's 115-year history is honored; Radisson Blu maintains its Scandinavian design roots since 1960. Upgrades, like Scandinavian-inspired designs and food/beverage concepts, will appear in Radisson properties across the Americas, starting with the Radisson Hotel El Paso Airport and Radisson Blu Fargo. Planned investments include a $15 million renovation of Radisson Blu Mall of America and updates to Radisson Salt Lake City Hotel. Choice Hotels operates over 7,500 hotels in 45 countries.

🏡 JLL Capital Markets arranged a $300 million refinancing for the Omni Nashville Hotel for TRT Holdings, Inc., with a fixed-rate, seven-year loan sourced from a U.S. insurance company and AllianceBernstein. The 21-story, LEED Silver-certified hotel, with 800 rooms and 80,000 sq ft of meeting space, integrates with the Country Music Hall of Fame and benefits from Nashville's 14 million annual visitors. The JLL team was led by Kevin Davis and included Whit Johnson, Jim Curtin, Mike Huth, Shalin Patel, Luke Rogers, and Nick Warta.

📆 U.S. hotel industry saw year-over-year increases from December 29, 2024, to January 4, 2025: Occupancy up 2.9% to 48.3%, ADR rose 11.7% to $168.90, and RevPAR grew 14.9% to $81.53. Tampa had the largest occupancy jump to 77.5% (up 29.7%). New York City led in ADR and RevPAR growth, with ADR at $340.79 (up 30.7%) and RevPAR at $283.03 (up 48.4%). Conversely, St. Louis and Seattle faced RevPAR declines to $36.02 (down 26%) and $54.23 (down 18.4%), respectively.

🏨 Rocco Forte Hotels announces The Carlton Milan, opening this summer after refurbishment. Directed by Olga Polizzi, the hotel will offer 70 rooms and suites, a restaurant, lounge bar, wellness center, and rooftop bar. Marking the group’s second Milan property and 10th in Italy, following Rocco Forte House Milan (2024). Rocco Forte, expanding in Italy, also eyes Spain, the U.S., and has a new hotel in Dubai. Saudi Arabia's PIF acquired a 49% stake for $1.8 billion, including debt. The group, founded in 1996, manages 14 European properties.

🏨 Thomas B. Meier has been appointed as the new CEO of Jumeirah, a luxury hospitality leader. With a history of success in the industry, he aims to double Jumeirah’s portfolio by 2030, as part of the brand's Mission 2030 strategy. Meier's previous roles include COO since October 2021 and Interim CEO. Under his direction, Jumeirah has expanded into Africa with Jumeirah Thanda Island in Tanzania and Jumeirah Thanda Safari in South Africa. The company manages 30 hotels worldwide and is eyeing further global expansion.

📖 Saladplate, part of Informa Markets, serves as the official content and engagement hub for the Hospitality, Food and Beverage industries, offering weekly news updates, a monthly newsletter, and a bi-monthly e-magazine. It provides exclusive insights into over 10,000 brands and companies, alongside updates from over 35 international trade events.