TOP NEWS

📌 Provident Realty Advisors, led by Managing Director Mason Miller, entered the extended-stay hotel market by purchasing 16 hotels from Extended Stay America (ESA) in 2018, later converting seven and currently building two ESA Premier Suites. One upcoming Premier Suites is a 115-room hotel in Schertz, TX, slated to open by year-end. Their ESA properties consistently exceed 80% occupancy, and recent conversions have increased occupancy and reduced operating expenses. Provident focuses on Texas for development, where 5 of the 10 fastest-growing markets in the U.S. are located.

📆 Kempinski Hotels launched "Responsible Meetings & Events by Kempinski" to reduce the environmental impact of events, in collaboration with EarthCheck. VenueCheck, an essential part of the initiative, helps assess event sustainability, with 43 Kempinski hotels EarthCheck-certified and 17 more pursuing certification. EventCalculator estimates an event's carbon footprint, ensuring compliance with Greenhouse Gas Protocol and IPCC Reporting Guidelines. Currently, 18 Kempinski hotels are VenueCheck verified, with 12 more pending. By 2025, Kempinski aims for all EarthCheck-certified hotels to join the program.

🌍 The 29th annual Lodging Conference gathers nearly 3,000 hotel execs at JW Marriott Desert Ridge, Phoenix, with record attendance and temperatures. Sold out, the conference hosts a mix of industry professionals, including owners, operators, and CEOs. The event, now the world's largest finance and development conference, reflects optimism in the hotel industry and a resurgence in group travel. Educational sessions feature top economists and CEOs, and Sheila Johnson will receive the Peggy Berg Castell award.

🏨 In Maryland, Choice Hotels introduced Lobby in a Box for Suburban Studios and MainStay Suites, promising lobby transformations in 120 days. The modular design enables hoteliers to cater to extended-stay guests with multifunctional, income-generating spaces. Following the success of Kitchen in a Box, which has been implemented in over 30 hotels since spring 2022, Lobby in a Box supports franchisees in expanding into high-barrier extended-stay markets. Hotel owner Rushi Vaidya reported a 43% increase in RevPAR and a 10.2% rise in guest satisfaction after conversion. Choice Hotels is set to open its 500th extended-stay property this year.

🏡 UKinbound recognized Blenheim Palace as the Sustainable Tourism Provider of the Year on 26 September during the Awards for Excellence ceremony, held at Liverpool Cathedral. The UK's inbound tourism industry, represented by UKinbound, generated over £31 billion last year. Blenheim Palace aims for Net Zero by 2027 and to sequester 230,000 tonnes of CO2 by 2050. Over 320 professionals attended the event, which also featured a convention with speakers like Scott O'Neil, CEO of Merlin Entertainments.

💾 Key facts: Choosing the right Revenue Management System (RMS) enhances profitability and simplifies operations. Considerations for an RMS include automation, real-time dynamic pricing, centralized control, and scalability. Independent hotels need user-friendly RMS with minimal manual intervention. Urban hotels require sophisticated RMS for real-time pricing adjustments. Hotel groups benefit from centralized control across properties. Hotel management companies need an RMS for efficient performance optimization across portfolios. Aligning RMS features with hotel needs is crucial for success.

🏩 Adam Zembruski, hotel investor and founder of Hospiamo, Inc. and the Hospitality Industry Impact Initiative, Inc., shares his journey from a front desk agent to COO and his return to hospitality's roots on Oct. 5, 2024. Highlights include the value of staying connected to front-line staff, overcoming industry challenges, and the therapeutic benefits of expressive outlets, all discussed in an episode of the Hospitality Daily Podcast.

🍳 José Andrés and partners have developed the José Andrés Group over 25 years, now featuring nearly 40 concepts across Chicago, Vegas, LA, Miami, NYC, Orlando, DC, The Bahamas, and Dubai. Vegas restaurants like China Poblano offer unique desserts such as the Giggling Buddha, and Jaleo's top dessert is Andrés' mom's traditional flan.

🏨 Hyatt Hotels Corporation announced a 25% increase in its select service pipeline in the Americas over three years, now over 50% of its total pipeline as of June 30, 2024. Caption by Hyatt revealed design and operational enhancements, including a cost-effective prototype for expansion. Hyatt Studios, since its announcement 18 months ago, boasts over 4,000 pipeline rooms and 250 deals in negotiation, with two recent groundbreakings and four hotels under construction, targeting openings in 2025 and 2026. Hyatt House and Hyatt Place are being upgraded based on feedback, focusing on operational efficiency and cost reduction.

💰 The Employment (Allocation of Tips) Act 2023, enacted after receiving Royal Assent in May 2022, mandates businesses to distribute 100% of tips to staff. Chef Calum Franklin will oversee Harrods’ The Georgian's evening menu, highlighting British cuisine and his signature pies, after his departure from Holborn Dining Room in summer 2022. Despite a turnover increase from £15.7m to £16.4m in 2023, Richard Corrigan Restaurants reports a £1.1m loss, contrasting with a 7% revenue rise and 57% adjusted EBITDA increase at Virginia Park Lodge, Ireland. Michael O’Hare closes Leeds restaurant Psycho Sandbar after seven months. StreetSmart's charity campaign, starting November 1, 2024, aims to raise funds with over 500 restaurants, including newcomers like Julie's and Kolae in London, and Mana in Manchester.