Last week at JMBM’s Meet the Money® national hotel finance conference, The Lodging Industry Investment Council (“LIIC”) released its much-anticipated LIIC Top Ten – the 2024 update of its an annual survey of investment sentiment survey.
Airbnb's latest round of product rollout includes its Icons category, which showcases experiences such as a living room performance by Grammy-winning artist Doja Cat or an overnight hosted by Bollywood royalty Janhvi Kapoor in India. Hotels editor Christina Jelski got an update on the company's latest chapter from Jay Carney, Airbnb's head of global policy and communications.
Four Seasons Resort Rancho Encantado Santa Fe welcomes Melissa Sims as General Manager, following her most recent appointment as Hotel Manager at Beverly Wilshire, A Four Seasons Hotel. Sims brings a diversity of management experience to her new role at the helm of the brand's Santa Fe property, recently ranked the #1 Best Resort in New Mexico by U.S. News & World Report.
Newport Hospitality Group (NHG) proudly announces the promotion of three exceptional individuals to the role of Vice President, as unveiled during the company's recent Leadership Conference, "Together We Thrive,” held in Richmond, Virginia. These appointments reflect Newport's commitment to nurturing talent from within and fostering a culture of growth and development.
Placemakr, a flexible-use hospitality and multifamily operator, today announced a major expansion across Texas with four new property launches, bringing the company's total operations to over 800 units in the state. The expansion includes the acquisition of Placemakr Downtown Austin, formerly named 3Waller, a 259-unit property in the heart of downtown Austin, marking the 6th property acquisition for Placemakr. The expansion also includes Placemakr's first smaller property launch (24 units) as part of a new brand concept, "Hosted by Placemakr." Lastly, Placemakr will also manage its first two exclusively residential properties in Texas. With these launches, Placemakr is investing in Texas as a destination for both work and play, where the tech scene continues to grow.
The Indigo Road Hospitality Group has opened The George Hotel, a 56-key boutique property in historic Georgetown, SC. The George represents major milestones for both The Indigo Road and the city of Georgetown — it is the first hotel to open and operate on the city's historic Front Street in more than 50 years, as well as The Indigo Road's first property to open in the company's home state of South Carolina. The hotel was developed by Winyah Properties and is operated by The Indigo Road.
Conrad Washington, DC announced Dale MacPhee as the new general manager of the luxury 360-room property. Boasting more than 30 years of experience in the hospitality industry, and with Hilton, MacPhee joins the property from Cairo, Egypt, where she most recently led the successful opening of Waldorf Astoria Cairo Heliopolis - the first Waldorf Astoria opening on the African continent. In her new role, MacPhee will lead the team in all aspects of hotel operations, from marketing and hotel administration to luxury hospitality, while delivering on Conrad Hotels & Resorts' commitment to purposeful and passionately delivered service.
Cvent, an industry-leading meetings, events and hospitality technology provider, has announced that Karamo – daytime talk show host and Queer Eye culture expert – will deliver a keynote speaker address for its customer and industry conference, Cvent CONNECT. The conference will take place from June 10-13, 2024, at the Henry B. González Convention Center in San Antonio, Texas and online. Lauded for his ability to meaningfully connect with his audience, Karamo will leverage his personal stories and cultural expertise to inspire Cvent CONNECT attendees to confront challenges, embrace authenticity and transform their personal or professional trajectories.
Outbound Hotels, the pioneering hotel brand redefining adventure lodging in America's great outdoor destinations, unveils its latest addition: Outbound Stowe, nestled in the picturesque beauty of Stowe, Vermont. Following the success of its predecessors in Jackson Hole, WY, and Mammoth Lakes, CA, Outbound Stowe aims to encapsulate Vermont's outdoor charm. With a soft opening scheduled for early July 2024, guests can immerse themselves in the tranquility and adventure of Stowe's landscape. Bookings for stays at Outbound Stowe will be availability from May to July.
U.S. hotel performance showed mixed results from the previous week, according to CoStar’s latest data through 4 May. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
The 46th annual NYU International Hospitality Industry Investment Conference (NYU IHIIC), operated by Questex, a leading information services and event company, in partnership with the NYU School of Professional Studies (NYU SPS) and its Jonathan M. Tisch Center of Hospitality, will deliver unparalleled thought leadership through keynotes, general sessions, workshops and networking events. Top industry executives from CEOs of hotel brands to various investment and real estate executives will discuss the latest trends, economic influences, and projections. The NYU IHIIC will be held on June 2-4, 2024 at the Marriott Marquis in New York.
Ocean City, Maryland, known for its expansive beaches and boardwalk, welcomes millions of visitors annually. This robust tourism industry fuels a thriving hospitality market, and recent strategic investments underscore Ocean City's focus on providing exceptional experiences for all visitors.
Questex, a leading information services and event company, today announces the opening of registration for the NYU International Hospitality Industry Investment Conference (NYU IHIIC) to be held on June 2-4, 2024 at the Marriott Marquis in New York.
Officials of Ashburton Hospitality, a full-service consultancy firm focused on asset management, today announced the addition of ten hotels to its rapidly expanding portfolio. The Marriott-, Hilton- and IHG-branded hotels are located throughout the Midwest, Eastern seaboard and southeastern U.S.
Leading global hospitality management organization, Valor Hospitality Partners, announced the grand opening of Cloudland at McLemore Resort Lookout Mountain, Curio by Hilton, marking a significant milestone in the company's expansion and a historic moment for the North Georgia mountain landscape. Cloudland is Valor Hospitality's second resort property in North America, joining the award-winning Lodge at Gulf State Park, a Hilton Hotel in Gulf Shores, AL. The property is situated at 2,300 feet of elevation among the 800-acre landscape of McLemore Resort that includes two world-class Rees-Jones & Bill Bergin designed golf courses, a beautifully curated clubhouse, state-of-the-art practice facilities and activities for everyone. This is the culmination of 15 years of dedication by Scenic Land Company and the unwavering belief and vision of Valor Hospitality. Developed by Scenic Land Company, Cloudland's arrival at McLemore Resort marks a historic milestone for the area, as it becomes the first hotel built on Lookout Mountain since the Great Depression. In partnership, FlickMars Interior Design from Dallas, Texas collaborated with Scenic Land Company and Valor Hospitality's design and development team to create and incorporate elevated finishes across the property—combining uncompromising service with rustic craftsmanship and comfort. Just 30 minutes from Chattanooga and conveniently accessible from major metro areas such as Atlanta, Birmingham, Knoxville, Louisville, and Nashville amongst others, Cloudland at McLemore Resort promises guests an unparalleled retreat immersed in natural beauty and luxury.
NexGen Hotels, a hotel development and management company based in Itasca, Illinois, today announced the acquisition of the Hotel Versey in Chicago, Illinois. Located at 644 W Diversey Parkway, the 137-room hotel will be managed by Genuine Hospitality Group of St. Louis, Missouri.
AXIS/GFA Architecture + Design, the noted and award-winning West Coast hotel, multi-family residential, and affordable housing architectural design firm, today announced its rebrand as AXIS Architecture + Design. The firm’s name change launches a new chapter in the company’s history, and includes the introduction of a new logo, corporate identity, and new company website.
Hilton Burlington Lake Champlain, soon to be Hotel Champlain, is pleased to announce the appointment of Justin Chapman as the new General Manager of the hotel. Bringing over 14 years of hospitality experience, Justin has moved up through Aimbridge Hospitality to step into the role of General Manager at Hilton Burlington Lake Champlain, soon to be Hotel Champlain. He was previously General Manager of the Embassy Suites by Hilton at Destiny USA in Syracuse, New York, another Aimbridge Hospitality property.
Right in time for IPW, the National Travel and Tourism Office (NTTO) shared updated forecasts that affirm the resurgence of international visits to the United States. According to NTTO, there were 66.5 million international visits the U.S. in 2023, reflecting 31% annual growth, but still at just 84% of pre-pandemic inbound visitation levels.
Only the Midwest, South Atlantic, and West South-Central regions posted moderate single-digit hotel-price gains in the first quarter 2024 (Midwest, 3.2%; South Atlantic, 3.8%; and West South-Central, 1.6%). Hotels in gateway cities experienced a reversal, exhibiting better performance than hotels in non-gateway cities this quarter. Transaction volume fell year over year and quarter over quarter for both large and small hotels in gateway and non-gateway cities. Standardized prices of large hotels continue to soften while those of smaller hotels remain relatively stationary. The cost of hotel debt financing and the delinquency rate for hotels rose in the recent quarter, even though credit spreads continued to tighten and relative risk narrowed. As in prior periods, borrowing costs still exceed the return on hotels. Expect to see a rise in the price of large hotels and a decline in prices for small hotels next quarter based on our leading indicators of hotel price performance.