TOP NEWS

💰 Edouard Louapre, head of Bachelor specialization in International Hotel Development and Finance, provides insights into the complexities of hotel real estate investment. The European hotel investment market was valued at €10.7 billion in 2023. Investors include banks, pension funds, insurance companies, sovereign wealth funds, private equity firms, REITs, hotel companies, and high net worth individuals. Key considerations for hotel investment include understanding local market conditions, financial and ESG performance. The Hinduja family invested £1.3 billion in the Raffles OWO hotel in London. Trends in hotel investment include diversifying revenue with private residences and adapting to new travel behaviors. The Waldorf Astoria New York was acquired for $1.95 billion in 2014 and is undergoing a refurbishment set to exceed $2 billion.

🍴 The global hospitality industry aims to reduce food-related emissions by 30% by 2030, potentially cutting 70 million tonnes of CO2 annually. The World Sustainable Hospitality Alliance, Iberostar Hotels & Resorts, the Sustainable Markets Initiative, and Systemiq produced the 'Decarbonising hotel food systems' report. The industry, causing 1% of food production emissions and 3% of food waste, is urged to use procurement and energy optimization to drive change. Innovative technologies like AI waste-tracking can reduce waste by up to 50%. The White Paper, backed by the Sustainable Markets Initiative founded by King Charles III in 2020, promotes AI for food covers estimation and encourages sustainable practices. The findings were presented at the Alliance's Annual Summit in the US, to members representing over 55,000 hotels and 300 brands.

🏨 The American Hotel & Lodging Association (AHLA) calls for legislation on hotel fee transparency before the 118th Congress ends on January 3, 2025. The No Hidden FEES Act (H.R. 6543) and the Hotel Fees Transparency Act (S. 2498) aim for clear, nationwide fee displays. The HOTEL Act (H.R. 9681) promotes anti-human trafficking programs in hotels. The hotel industry is projected to pay $123 billion in wages in the current year and generate $83.4 billion in tax revenue. The Closing the Workforce Gap Act (H.R. 7574) addresses the labor shortage by adjusting visa caps. The Red Tape Reduction Act (S. 1725) seeks to balance the field between hotels and short-term rentals.

🛅 The Hotels Network's analysis of the 2024 Black Friday season for over 4,300 hotels globally showed a 63.8% increase in direct bookings for hotels with dedicated Black Friday campaigns, compared to a 1.2% decrease for those without. Website traffic rose by 9.2% and engagement within booking engines surged by 36.7% for participating hotels. Website conversion rates improved by 36.0% for these hotels, driving a 97.5% increase in direct revenue and a 23.6% increase in average booking value.

📰 In a recent article, Martin discusses the significance of 2025 trends and shares insights from over 100 trend reports. An analyst compiled these reports into a Google Drive directory and created a 25-minute podcast summarizing them. Zendesk's survey across 22 countries indicates a rise in consumer expectations for AI-powered customer service. The evolution from on-premise to SaaS and now AI-based enterprise systems is highlighted, along with the potential for metaphor-driven design in hotel guest technology. Amazon's immersive Black Friday pop-up store in Milan exemplifies the future of experiential retail. Marketing strategies for 2025 emphasize educational content, review management, press releases, trade show presence, adapting to reduced website clicks, and rethinking lead magnets.

💰 In Part 2, hotels harness Business Intelligence (BI) tools across four guest journey stages: Arrival, Stay, Departure, and Post-Stay, to optimize operations, personalize experiences, and boost loyalty. BI tools provide real-time data on room availability, guest preferences, and operational efficiency, enabling personalized check-ins and identifying upsell opportunities. By analyzing guest spending patterns and service profitability, hotels can target cross-selling and enhance service offerings during the Stay phase. Efficient check-out processes and feedback collection during the Departure phase leave lasting positive impressions and facilitate future engagement. Leveraging BI throughout these stages maximizes profitability and guest satisfaction.

🏖 Half of consumers plan to gift travel and experiences this holiday season. A survey found 60% of consumers aim to purchase travel gifts, yet 33% are deterred by the specific date requirement, 29% by the need for precise traveler details, and 21% by itinerary change difficulties. A significant 82% might abandon shopping carts due to frustration or indecision, with 29% shopping elsewhere. Travel companies are urged to streamline booking, offer flexible options, and use Generative AI to facilitate the gifting process.

🏡 The hospitality industry could slash food-related emissions by 30% by 2030. The "Decarbonizing hotel food systems" White Paper, by the World Sustainable Hospitality Alliance, Iberostar, and others, presents a reduction of up to 70 million tons of CO2 annually. The industry, responsible for 1% of food production emissions and 3% of global food waste, discussed these findings at the Alliance’s Annual Summit in the US in October. Innovative measures like waste-tracking could cut waste by 50%. Iberostar aims for net zero by 2030, already implementing AI waste management and transitioning to less polluting kitchen equipment. The Sustainable Markets Initiative's Hospitality and Tourism Task Force, co-chaired by Alliance's CEO Glenn Mandziuk, supports these efforts. Leaders convened at New York Climate Week in September to strategize reaching the 2030 target. The Alliance introduced Universal Sustainability KPIs at COP29 and will host a related webinar on 12th December 13:00 GMT.

🍳 The global Hospitality industry can reduce food-related emissions by 30% by 2030, aiming to cut 70 million tons of CO2 annually, according to a White Paper by the World Sustainable Hospitality Alliance, Iberostar, Sustainable Markets Initiative, and Systemiq. Discussed at the Alliance’s Annual Summit in October with members representing over 55,000 hotels and 300 brands, innovative solutions like waste-tracking technologies could halve food waste. Iberostar targets net zero by 2030, implementing AI waste management and reducing single-use plastics. The White Paper, supported by King Charles III-founded Sustainable Markets Initiative, was reviewed during New York Climate Week in September. A webinar on December 12th, 13:00 GMT, will discuss the report and future actions.