Revenue Management

📖 Dan Frommer collaborates with Coefficient Capital to release a 75-slide Consumer Trends Report, covering Gen. Z beauty, cannabis, nicotine habits, GLP-1 weight-loss drugs, and YouTube’s entertainment future. Surveying over 3,000 US consumers with Toluna, the report is freely accessible for New Consumer members, with deeper analysis in newsletters and podcasts. Membership options include an annual subscription for $200/year or a monthly subscription for $20/month.

🏨 In June 2024, the U.S. hotel industry saw occupancy at 69.6% with no change from June 2023, while ADR rose by 1.5% to $161.30, and RevPAR increased by 1.5% to $112.33. New York City led the Top 25 Markets with the highest occupancy (up 2.5% to 87.8%), ADR (up 4.4% to $317.91), and RevPAR (up 7.0% to $279.08). The lowest occupancies were in New Orleans (56.9%) and Phoenix (63.4%), with Top 25 Markets outperforming others in occupancy and ADR.

🐶 A Jack Russell requires substantial exercise and is prone to hunt and chase with a sense of smell 100,000 times better than humans. Dogs can have 125 to 250 million smell receptors, compared to a human's five million. The author's daily routine includes three walks with their dog, Olive, which has taught them the value of a slower pace for better decision-making. The idea is parallel to the business of hotels and strategic thinking, emphasizing the benefits of an unhurried, deliberate approach.

🐶 Jack Russell dogs require significant exercise and are bred for hunting, with a sense of smell 100,000 times better than humans. A dog's brain dedicates 40% more to smell than humans, and they possess 125 to 250 million smell receptors compared to a human's five million. The author describes daily walks with his Jack Russell named Olive, emphasizing the importance of a slower, more intentional pace to absorb the world—paralleling careful decision-making in hotel business operations.

💸 Corporate travelers can save up to 20% on travel expenses with Emburse Reshop's integration with Amadeus Cytric, announced at the GBTA Convention 2024 in Atlanta. Emburse Reshop allows users to rebook hotel reservations if a better deal is found, potentially for nearby hotels as well. This integration provides analytics and reporting for travel managers to optimize hotel spend and policy compliance, offering enhanced visibility and control over travel programs.

🏨 June 2024 data reveals hotel pipeline activity increases in the Americas (17.8%) and Asia Pacific (4.5%), with a drop in Europe (-3.8%) and Middle East & Africa (-4.2%). Europe's in construction rooms fell by 2.4% to 165,858, with Germany (27,302) and the UK (25,312) leading. Asia Pacific's in construction rooms rose by 4.4% to 503,770, with China (319,012) and Vietnam (36,521) ahead. Middle East has Saudi Arabia (42,786) and UAE (18,933) topping construction. The Americas saw an 8.3% growth in construction, with the US (157,713), Mexico (13,301), Canada (8,686), and Brazil (5,948) leading.

🍹 Chefs Zachary Engel of Galit in Chicago and Satinder Vij of Ilili in Washington, D.C. reinterpret Kibbeh nayeh using tuna, mixing global flavors. Roman Andres presents a scallop tostada at Siempre J.B. in Las Vegas, while Gladstone’s in Pacific Palisades, Calif., serves scallops over green risotto. Balcón Rooftop in Midtown Manhattan introduces a purple gin cocktail with blueberries, passion fruit, and Champagne.

🏨 U.S. hotel industry experienced a dip in performance with occupancy at 69.2% (↓3.7%), ADR at $158.21 (↓1.5%), and RevPAR at $109.51 (↓5.2%) from July 7-13, 2024, compared to the same week in 2023. Houston outperformed with increases in occupancy (↑13.4% to 72.2%), ADR (↑22.4% to $137.17), and RevPAR (↑38.8% to $98.97), due to Hurricane Beryl. Meanwhile, Denver and San Diego faced the sharpest RevPAR declines of 29.4% and 26.7%, respectively.