Agilysys, Inc., a leading global provider of hospitality software solutions that deliver High Return Hospitality, today reported results for its fiscal 2025 third quarter ending December 31, 2024.
The hospitality industry is expected to reach new heights by 2027. Experts predict that the industry will reach $5 billion, especially backed by groundbreaking advancements in technology. The following top 10 financial strategies to enhance automation may help garner the best results for 2025:
Miramar Group Acquires Hong Kong’s Champagne Court for Hotel Redevelopment, Billbergia and MCP to Develop Mixed-Use Development at Sydney, Australia, Star Hotel Group Acquired Rydges Mackay Suites in Queensland, Australia, Hoshino Acquiring Kai Poroto for JPY3.06 Billion in Hokkaido, Japan, Singapore has Established New Route to Labuan Bajo, Indonesia.
[Amsterdam: 21 January 2025] Mews, the industry-leading hospitality cloud, has been named a Major Player in the IDC MarketScape: Worldwide Hotel Point-of-Sale Software 2024 Vendor Assessment. This is the first time that IDC MarketScape has assessed the hotel point-of-sale (POS) market, providing a comprehensive overview of the key strategies and capabilities of global software vendors.
In the dynamic world of hospitality, where every decision influences the bottom line, comp sets—or competitor sets—play a pivotal role in benchmarking and profit intelligence. The right comp set doesn’t just offer data; it delivers context, enabling hotel operators to make informed decisions that optimize operations and boost profitability.
Aimbridge Hospitality, a leading, global hotel management company and the world’s largest third-party hotel operator, today announced that it has entered into a Restructuring Support Agreement with overwhelming support from its first and second lien lenders and its existing sponsor that would right-size the Company’s capital structure by converting more than $1.1 billion in debt to equity, and infuse $100 million in new capital, significantly strengthening the Company’s financial position.
The Caribbean and Latin American (CALA) region remained a top destination for travelers in 2024, with visitation increasing by 5% to 10%. In response, hotel companies are actively developing in CALA, while regional owners and operators are innovating to meet the evolving demands of today's travelers.
Imitation may be considered the highest form of flattery. Bad actors on the internet, though, fall outside the consideration set. As phishing attempts become increasingly sophisticated, hoteliers need to stay vigilant and implement robust security measures. Many security measures include automation and technology. The first line of defense will always be the individual, be they a guest or an employee of the hotel.
Village Hotels acquires former Crowne Plaza Reading in the UK from Brightbay, Extendam sells budget hotels in Grenoble, Saint-Etienne and Valencia, Interesting Hotels acquires former Hilton Garden Inn Snowdonia, UK.
OJR Makes Two Hotel Acquisitions in Japan, JHR Sells Washington Hotel Plaza Hakata, Nakasu for JPY4.61 Billion in Fukuoka, Japan, Madison Plaza Townsville Sold in Australia, Indonesia Aims to Invest IDR2.254 Trillion in Tourism for 2025.
In the hyper-competitive landscape of the hospitality industry, operational benchmarking emerges not just as a tool but as a strategic lever for unlocking profitability. The days of relying solely on traditional KPIs like RevPAR are over; today's hotel operators need to dive deeper into granular performance data to achieve operational excellence.
Warning – this blog post talks about cruelty to cats. I in no way support this practice and I am not promoting the activity in any way. The purpose of this article is to tell a story around the financial controls for hotel paid outs. Even with the disclaimer I am pretty sure I’ll get some flack, but the story is worth it!
Hospitality Financial and Technology Professionals (HFTP®) is pleased to announce that the newly-revised 12th edition of the Uniform System of Accounts for the Lodging Industry (USALI™) is now available as a soft-cover book. This edition was initially released as a digital publication in July 2024, and with the printed version available, users have an additional option for accessing the uniform system’s guidance.
The Global Finance Committee (GFC), a committee of diverse industry professionals sponsored by the Hospitality Financial and Technology Professionals and the American Hotel and Lodging Association is responsible for the production of the Uniform System of Accounts for the Lodging Industry (USALI). The revised 12th edition USALI is scheduled to be effective in 2026. USALI is the global standard for financial reporting in the lodging industry and will feature important changes to financial reporting practices.
The Gulf Cooperation Council region in the Middle East presents a unique and complex landscape for hotel investment.
To get your department managers to play ball with their numbers in your hotel, you need a system they can follow, a sort of roadmap they can use to stay on track every month. Teach them this, and you will have an engaged team that buys into playing their financial part. It's not magic, but the results are MAGICAL if applied consistently.
At the recent annual meeting of Cayuga Hospitality Consultants, we brought together a panel of experts to discuss the state of transactions and development in the hotel industry. Here is a look into some of the key topics and points from the panel.
I discuss this question with hoteliers way too often. It’s not their fault, but the reality is they don’t understand what this statement means and, in this piece, I’m going to lay it out for you. I will say that the lack of understanding and basic ignorance of this is a costly and completely avoidable expense if you just do a little digging and ask the right questions.
As we all continue to find our footing in today’s market, we remain encouraged by the level of interest we have seen from offshore capital looking to invest in U.S. hotel assets, with the driving factors being their search for yield, stability, and growth.
One of the most important events in the hospitality industry occurred this summer at HITEC. HFTP (Hospitality Financial and Technical Professionals) published the highly anticipated Uniform System of Accounts for the Lodging Industry – 12th Revised Edition.