In just one year, CBRE's Global Hotel Asset Management practice has grown to oversee 40+ properties with 8,500+ rooms worldwide. Our success stems from leveraging CBRE's vast resources and our team's global expertise to deliver unmatched results.
Userguest, the pioneering force in hotel technology dedicated to maximising direct revenue, is thrilled to announce the successful closure of a €2.2M seed funding round. Led by Al Mada Ventures and bolstered by CDG Invest, Saviu Ventures, UM6P Ventures, Kalys VC, Plug & Play and esteemed business angels Philippe Limes and Thane Kuhlman, this investment marks a transformative moment for the hotel tech start-up as it prepares for rapid expansion and groundbreaking product innovation.
The hospitality sector is experiencing major transformations influenced by several key factors. As the industry grows, investors will prioritize opportunities that balance profitability with social and environmental responsibility, ensuring a dynamic and forward-thinking hospitality industry.
Rolling forecasts are nothing new but I must point out that most hotels don’t use them, and they really should. It’s an incredibly useful tool that is literally worth its weight in gold. That being said, it doesn’t weigh much but once you start to use one it’s an indispensable tool that you must have each month, and its impact and importance usually gains weight and momentum into the final few months of the year. Like the plot in a good mystery, it can take a sudden turn and produce an unexpected ending.
HVS is Thrilled to Announce the Return of Henrich Huang and Chariss Kok to Our Team in Key Leadership Roles, LOTTE REITs to Acquire L7 Hotels Gangnam Tower for KRW330 Billion, Schwartz Family Company Acquired Leura Gardens Resort for AUD25 Million, Hostel Brand Selina Sold to Collective Hospitality, Dusit Hotels and Resorts Enters Strategic Partnership with Generator and Freehand Hotels, Correction for Last Week’s Newsletter Titled Star Asia Acquires Four Hotels in Japan for JPY34.7 Billion.
HVS, the leading global hospitality consulting and services firm, is pleased to announce the launch of TrendTrack, a proprietary tool that enables hospitality clients to make better business decisions.
Hotels as an investment engine are easily considered one of the most, if not the most, complicated real estate classes because revenue levels can be unpredictable and are especially vulnerable to changes in the economy and external factors such as market conditions and weather.
Historically, hospitality professionals have viewed procurement as a cost centre. But now, after years of social, economic, and political upheaval, procurement is evolving into a strategic function that helps hospitality organisations realise their broader business goals.
Sonesta, the 8th largest hotel company in the US, today announced a new incentive program that provides a 2% incentive to franchisees who utilize Sonesta’s procurement program for purchasing needs. This initiative offers significant financial benefits to owners and underscores Sonesta's commitment to transparency, innovation, and strong franchise relationships.
The federal government per-diem rate is made up of a lodging allowance, a meals allowance, and an incidental expense allowance. The per-diem lodging rates, which set the maximum amount a federal traveler can reimburse, are based on the average rates for mid-priced hotels and are set annually by the U.S. General Services Administration (GSA).
Kasumigaseki Capital Transacted Two Japanese Hotel Development Sites, Osaka’s New Mixed-use Development Opens with Three New Hotels, The Light City Mixed-Use Development in Penang is Set to Welcome Two New Hotels, Malaysia Set to Enhance Cruise Tourism Infrastructure, Grand Fortune Hotel Bangkok to be Rebranded into a New Avani Hotel in Bangkok.
Each year, HVS researches and compiles development costs from our database of actual hotel construction budgets. This source provides the basis for our illustrated total development costs per room and per product type.
This summer, as we witnessed the world's top athletes compete in the 2024 Olympics in Paris, there were some profound parallels between pursuing excellence in sports and leading procurement in hospitality. Both domains demand precision, innovation, and a deep commitment to collaboration.
Now that’s a big statement to put out there, but I’m very confident that I’m pretty close to 100% correct with my observations. The reason why I’m so sure is that I know most hoteliers are not financial people and they are oblivious to the issue I am going to explain. On top of that – I see this all the time.
Premia to acquire two hotels in Greece from Nordic Leisure Travel Group, Atom divests Exe Coruna hotel in Galicia, Spain.
Spanish hotel transactions exceeded €1.6Bn in H1 2024, involving 56 properties and over 8,100 rooms. This is about a 3% increase compared to H1 2023 and 56% above the 5-year average (2019-2023). The Balearics, Barcelona, and Madrid were the most active hotel investment markets, supported by healthy operating results. Elevated investment activity is expected going forward, likely exceeding €3.0Bn by the end of 2024.
Anthony Capuano, President and Chief Executive Officer, said, “Marriott reported strong second quarter results, with net rooms up 6 percent year over year and worldwide RevPAR[1] growth of nearly 5 percent, as consumers continued to prioritize travel. International RevPAR increased more than 7 percent, with Asia Pacific excluding China leading the way, posting an impressive 13 percent RevPAR increase from the year-ago quarter.
With my workshops and speaking, I often do an exercise where I challenge each leader to find a minimum of $250 in next month's forecast. That can be savings in the form of reduced payroll or expenses. It can also be a source of new revenue. The participants come up with some amazing ideas that really work. The great thing about these ideas is that we almost always get to repeat and compound. An idea that works next month just works EVERY month. Read more about creating asset value here.
One of the initial steps when considering a new hotel development is the all-important hotel feasibility study. Or is it the market study? Or should you, the developer, be considering an interim step?
Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months ended June 30, 2024. Highlights include: