Market Trends

📝 In October, the U.S. national unemployment rate held steady at 4.1%, consistent since May 2024 and higher than the pre-pandemic rate of 3.5%. The restaurant and bar industries saw a slowdown in job growth, adding just 3,700 jobs with an employment rate of 3.7%. This was a stark contrast to September's initially reported 70,000 jobs, which was later adjusted to 39,300. Overall, August and September's job growth was revised down by nearly 65,000 jobs. Despite these adjustments, the National Restaurant Association indicates the employment trend remains positive, with industry employment above the pre-pandemic peak of 12.3 million jobs. Full-service restaurants are still 4% below February 2020 employment levels, while limited-service and snack/non-alcoholic beverage sectors are 3% and 17% above, respectively.

🏡 In Q3 2024, Sonesta International Hotels Corporation executed 30 new franchise agreements, underscoring its expansion across the U.S. The agreements span seven brands, including 11 Sonesta ES Suites, 7 Sonesta Essential Hotels, 6 Americas Best Value Inn by Sonesta, 2 each for Sonesta Hotels, Resorts & Cruises, and Sonesta Select Hotels, plus single franchises for Red Lion Hotel, Inn & Suites, and Sonesta Simply Suites. The growth aims at enhancing hotel performance and guest experience, offering a variety of segments from upper upscale to premium economy.

🔔 U.S. hotel industry saw positive gains in October 2024 compared to 2023 with occupancy up by 4.5% at 69.0%, Average Daily Rate (ADR) rising 4.6% to $168.69, and Revenue per Available Room (RevPAR) increasing 9.3% to $116.32. Tampa experienced the largest occupancy increase of 28.1%, reaching 84.2% due to Hurricane Milton. New Orleans led in ADR and RevPAR growth, surging 64.1% to $301.30 and 77.6% to $227.24, respectively, propelled by Taylor Swift’s Eras Tour. Conversely, Las Vegas and Minneapolis saw RevPAR drops of 7.9% to $196.40 and 6.5% to $86.31, respectively.

📍 The article concludes a mid-century modern series by collating 28 influential proponents, furniture designs, places, materials, and companies. Danish architect Arne Jacobsen is known for the Ant chair and the Egg chair initially made for the SAS Royal Hotel, Copenhagen's first skyscraper. Mies van der Rohe and Lilly Reich designed the Barcelona chair for the 1929 International Exhibition, popularized in the 1940s by Knoll. Charles and Ray Eames innovated with molded plywood, creating the Shell chair and Eames lounge chair. Textile designer Lucienne Day impacted Britain with her Calyx pattern, earning a gold medal at the Milan Triennale. Eero Saarinen, known for the Gateway Arch and Tulip furniture, designed the GM Technical Center. Florence Knoll's Planning Unit produced enduring furniture and promoted designers like Mies van der Rohe. Gio Ponti's works include the Pirelli Tower and the Superleggera chair. Hans J Wegner, the "Master of Chairs," created over 500 designs, including the Wishbone Chair. Isamu Noguchi's Akari lights and Noguchi table remain popular. Grete Jalk's GJ Bow Chair is still made today. Poul Kjaerholm's steel furniture is featured in major museums. Lina Bo Bardi, celebrated for her architecture in Brazil, was posthumously awarded the Special Golden Lion in 2021. Moulded plywood

🏨 STAAH, a hospitality service provider, offers weekly hotel industry quizzes to keep hoteliers informed and sharp on the latest trends. The latest quiz touches on luxury hotel brands and essential hotel software. Participation is encouraged to test knowledge and stay updated, with previous quizzes available for those who missed out.

🏡 In Birmingham, Michigan, Daxton Hotel joined Curio Collection by Hilton, expanding the brand’s portfolio to 175 hotels. General Manager Autumn Griffith highlights their dedication to artful sophistication. Transitioning offers guests Hilton Honors perks like digital keys and point-earning opportunities. Opened in 2021 by Mark Mitchell, the hotel boasts 151 rooms and suites, over 400 artworks, dining options like Madam and Geode Bar, and the lobby’s Café Dax.

🏚 InterContinental Hotels & Resorts to open in Indianapolis this winter, housed in the 1926-built historic Illinois Building after a $110 million restoration, adding a floor to become an 11-story luxury hotel with 170 rooms. Keystone Group developed the site, adding a penthouse suite, two dining concepts, a fitness center, and 5,000 square feet of event space. InterContinental's portfolio spans over 220 hotels with 73,350 rooms in 70 countries. 21c Museum Hotel Indianapolis to open in 2028, managed by Ennismore in partnership with TWG, featuring 156 rooms with original art, three dining venues, and 16,000 square feet of gallery space. Daxton Hotel Birmingham joined Curio Collection by Hilton, opened in 2021, owned by Mark Mitchell, with 151 rooms and over 400 original art pieces. The Boardwalk Hotel on Lake Anna by Kasa opened, offering 34 rooms and sustainability-focused infrastructure upgrades.

🎄 The Chalet, an Alpine-inspired restaurant by pop-up legend Jimmy Garcia, reopens on November 13 at Somerset House. Menu highlights include gin-cured salmon with Graveney Gin from Tooting, charcuterie from Tempus in Weybridge, and wild boar sausages supplied by Vicars Game in Reading. The British Cheese Fondue features Neals Yard Dairy cheeses, with a vegan option available. From November 28, the Après Skate experience offers a welcome gluhwein and a three-course dinner for £75 on Thursdays to Saturdays.

🏠 Design studio Simplicity crafted a traditional Japanese ryokan experience on the 28th floor of the Four Seasons Hotel Osaka, located in the Dojima business district. The hotel occupies 12 floors of the One Dojima high-rise and offers 175 guest rooms. The ryokan floor, aiming to blend tradition with modernity, features 21 tatami rooms with interiors inspired by Japanese inns, complete with futon beds, and a Sabo tea lounge. This project aligns with Japan's economic surge and the forthcoming Expo 2025 Osaka.

🎉 Denise Tran, CEO of San Francisco-based Bun Mee, founded the five-unit Vietnamese sandwich concept in 2011. Bun Mee announced national franchising and opened its fifth location in San Francisco's Marina District after traditional stores grossed over $1 million annually since 2021. Its two airport units at San Francisco International Airport reported over $4.6 million and $3.6 million in 2023 sales. With a trimmed menu and upgraded equipment, Bun Mee aims for 5 new franchises in the first year and 50 units in five years, focusing first on Colorado expansion.