Market Trends

🏡 Valencia Hotel Group announced the construction of Caravan Court, set to open in 2026 in Arlington, Texas. The eighth property in their collection, it will feature 145 rooms, 7 suites, and honor the 1960s era in design. Amenities include 5,000 square feet of meeting space, a restaurant, multiple bars, and proximity to the Sports and Entertainment District. The project is in partnership with Division Hotel Management and backed by the Arlington City Council, aiming to boost the local economy.

📌 Eric Jacobs appointed as Aimbridge Hospitality's Chief Global Growth Officer, succeeding Allison Reid since July 2022. CEO Craig Smith, joined March after a role at Marriott, teams with Jacobs and Executive Chairman Steve Joyce, also ex-Marriott, targeting the company's expansion. Aimbridge, based in Dallas, Texas, manages around 1,500 global properties. Jacobs, with 35 years in hospitality, previously added 2,400 hotels and 264,000 rooms to Marriott. Aimbridge focuses on Latin America, Europe, and Asia for growth, and maintains a hands-on approach with owners, emphasizing operational leadership despite corporate restructurings, the latest in February creating a dedicated owner relations team. Jacobs aims to build on Aimbridge's pillars in the coming six to eight months.

🏡 Kimpton Santo Hotel in San Antonio, Texas, set to open on August 29, 2024, as part of IHG Hotels & Resorts’ luxury collection, will feature 347 guestrooms, including 16 suites, a rooftop pool, and 13,000 square feet of event space with two ballrooms. The hotel is located at the intersection of the city's arts and business districts, merging a historic 19th-century schoolhouse with modern amenities. The property will also offer four food and beverage outlets, including Dean's Steak & Seafood housed in a restored historic building.

🏠 Choice Hotels International broke ground on three Everhome Suites in San Antonio, Texas; Bowling Green, Ky.; and Wichita, Kan., in partnership with Highside Companies, which has 25 Everhome Suites in its pipeline. The brand currently has four open, 65 planned, and over 20 under construction, aiming to open over 15 in the next 12 months. Everhome Suites Bowling Green, with 115 rooms, will open in November 2025. The equally sized San Antonio suite will also open in November 2025. Meanwhile, the 123-room Wichita suite is set for a fall 2025 opening.

🏖️ IHG Hotels & Resorts is expanding with a Six Senses resort in Telluride, Colo., slated to open in 2028, featuring 77 rooms, 24 residences, and amenities like ski concierge and a spa. Playa Hotels & Resorts will sell the Jewel Palm Beach in Punta Cana for $68 million, expecting the deal to close by Q3. IHG will also open Hotel Indigo Cabal Akhdar Resort & Spa in Oman on September 1 with 173 accommodations. Marriott's Moxy Hotels debuts in Mumbai's Andheri West with a 105-room hotel.

🏨 In July 2024, U.S. hotel industry's occupancy was 68.8% (a decrease of 0.5% from July 2023), ADR was $161.69 (an increase of 0.5%), and RevPAR stood flat at $111.18. Oahu Island led the Top 25 Markets with occupancy at 88.3% (up 4.5%), ADR at $310.46 (up 1.4%), and RevPAR at $274.13 (up 5.9%). The lowest occupancies were in Phoenix (56.9%) and New Orleans (58.9%). Top 25 Markets surpassed other markets in occupancy and ADR.

🏨 In the August 26, 2024 episode of the Hospitality Daily Podcast, Staypineapple Hotels leaders Dina Belon (President), Mike Hirschler (Chief Growth Officer), and Casey Barks (Vice President of Marketing) discuss their career journeys. Belon highlights the role of her design background in leadership, the brand's "elegant whimsy" aesthetic, and her philosophy of kindness with efficiency. Hirschler reflects on his early passion for hospitality, career challenges during COVID, and the importance of cultural fit. Barks offers insights into the contrasts between city and resort hotels, PR during the pandemic, and Staypineapple's brand personality. The episode explores the PATH water bottle initiative and Belon's decision-making process.

🏡 Mirzoyan Studio renovated a two-bedroom Stalinka apartment in Kyiv, Ukraine, transforming it into a rental property with reflective surfaces and built-in oak furniture. The historical building's structural integrity influenced the careful planning and preservation of its character. The main living space now combines the living room and kitchen, separated by a wooden shelving unit, with stainless steel kitchen finishes. Mirrored closets and broken marble from a local supplier enhance the entryway and bathroom. Despite war-related construction delays and budget cuts, the project emphasized durable design and local materials.

💸 Accor established the Global Leadership Council (GLC) with 17 corporate travel managers on August 26, 2024, to reshape business travel post-pandemic. The GLC, uniting finance, engineering, and technology sectors, represents over 2.7 million business travelers. Priorities set: enhancing traveler experience and well-being using technology, optimizing travel costs, and promoting sustainability and inclusive practices.

🏨 Booking.com's 2024 survey reveals hotels as top accommodation for European travelers, with Spaniards most likely to stay in hotels. French less inclined, with less than half favoring hotels, preferring family stays or apartments. Italians opt for bed & breakfasts as a second choice. Full details on Statista, dated August 26, 2024.