David Eisen - 10 Minutes News for Hoteliers - Page 10

2 min

Four Seasons and Extell pair on new Deer Valley resort and residential development

🏖️ Four Seasons is partnering with Extell Development Company to create a new resort in Deer Valley, Park City, Utah, marking North America's first luxury alpine village in over 40 years. The project, led by ODA Architecture, will offer 134 guestrooms, suites, and 123 private residences (1-6 bedrooms, 1,200-7,000 square feet) with ski-in/ski-out access. Additionally, 55 residences will be above the resort and an adjacent building will house 68 owner-exclusive units. The Deer Valley’s East Village will also feature a skier services facility, retail, culinary experiences, and après venues. The resort is positioned 40 minutes from Salt Lake City International Airport.

1 min

December Suppliers Guide issue of HOTELS is live

A good craftsman is only as good as his tools. It’s a well-known saying and one that has ample application to the hospitality industry. Hotels can only operate with the…

6 min

A short drive’s journey into respite: How Molly Hardie crafted Keswick Hall

🏖️ Keswick Hall, an 80-room luxury resort in Virginia, originally built in 1912 as a manor house, underwent a multimillion-dollar renovation led by Robert and Molly Hardie after their 2017 acquisition. The resort fully reopened in summer 2022 with features like a Jean-Georges Vongerichten restaurant and a Pete Dye-designed golf course. Room rates start at $500, peaking during weekends and summer. The Hardies also own The Hermitage Hotel in Nashville, sharing an excellence in customer service and luxury experience. Both hotels highlight Jean-Georges Vongerichten's culinary expertise.

4 min

Certifiably well: How accreditation can prevent ‘wellness washing’

🏩 Wellness tourism's growth has led to an increased demand for hotels with authentic wellness experiences. Sam Nazarian and Tony Robbins recently launched longevity clubs and hotels aiming to redefine wellness through life extension and holistic health practices. Wellness certification acts as third-party validation, ensuring hotels meet rigorous, evidence-based wellness standards. It represents operational excellence, credibility, and guest satisfaction. Robin Ruiz, CEO of WITT, emphasizes that wellness accreditation will be key in guiding travelers through the evolving hospitality landscape.

3 min

Hotel investment risk has normalized. That’s good news. Here’s why.

🏨 Hotel cap rate spreads decreased to 2.44% in Q1 2024, nearly 50 basis points below their long-run average since 2001, suggesting normalization in hotel investment risk. During the pandemic, hotel mortgage interest rates doubled, but by Q1 2024 spreads to 10-year Treasuries and 15-year residential mortgage rates returned close to pre-pandemic levels, at approximately 100 basis points and 124 basis points, respectively. The CBRE report indicates that these trends in the capital market signal a stabilization in the relative pricing of hotels.

2 min

L+R Hotels bulks up C-suite with Pettigrew appointment

🏨 Cody Bradshaw, CEO of L+R Hotels for two months, was previously with Starwood Capital for over 13 years. Joe Pettigrew, after 11 years with Starwood and six months as CCO at EOS Hospitality, joins L+R Hotels as Group Chief Commercial Officer. Pettigrew will oversee commercial strategies for the group’s approximately 23,000-room global portfolio, targeting efficiency and growth in North America, Palm Beach, Marbella, Venice, and beyond. He will be based in London, reporting to Bradshaw.

2 min

The two biggest lessons I learned at the Lodging Conference weren’t at The Lodging Conference

🚗 The Lodging Conference, an essential hotel industry event, occurs annually in Phoenix as summer transitions to fall. Phoenix Sky Harbor Airport visitors have been intrigued by Waymo's autonomous taxis, especially after the company secured a $5.6-billion funding round for expansion. Driverless Waymo vehicles are available in cities including Phoenix, L.A., and San Francisco. A human driver's assistance, highlighted by a traveler's struggle with a malfunctioning Waymo vehicle trunk, contrasts the convenience of technology. Culinary Dropout, a Scottsdale restaurant, offers exceptional service, showcasing the value of human interaction in hospitality.

7 min

Commercial appeal: A Q&A with KSL Resorts’ CCO Kristie Goshow

📌 Kristie Goshow, Chief Commercial Officer at KSL Resorts, discusses advancement in hiring women in hospitality, with Marriott and Accor having 40% and over 50% women in leadership respectively. She stresses merit over quotas for leadership roles. A 2023 Korn Ferry Institute study found 1 in 4 women affected by menopause consider quitting, highlighting gender disparities in career advancement. Goshow advocates for greater recognition of women's potential in executive recruiting, emphasizing the use of predictive tools and AI to aid the process. Women in hospitality features will continue until boards reflect guest demographics and more women become CEOs. Key trends include AI integration, agility in teams, personalized brand experiences, and innovative revenue management. 🏨

6 min

On rate: HOTELS Magazine’s top 5 revenue management companies

🏨 IDeaS, founded in 1989, partners with over 30,000 hotels in 164 countries and has a 98% retention rate. Duetto, started in 2012, serves more than 6,000 hotels, focusing on dynamic rate adjustments and profitability. FLYR, partnering with over 2,000 hotels, leverages AI for revenue management. RoomPriceGenie, assisting over 2,500 hotels, was founded to optimize pricing for independent hotels. Atomize, established in 2016, has 500+ hotel partners and specializes in real-time pricing optimization using AI and machine learning.

6 min

Virgin Territory: How Virgin Hotels fits into Richard Branson’s travel universe

🏡 Virgin Hotels CEO James Bermingham, who joined in 2021, has expanded the brand further with the opening of Virgin Hotels London Shoreditch in August 2024, marking the ninth Virgin hotel. This London location is a conversion of the former Mondrian, aligning with Virgin's strategy to have properties in all destinations Virgin Atlantic flies to. Virgin Hotels started in 2010, launched its first hotel in Chicago in 2015, and currently has properties in the U.S. and U.K. Upcoming expansions include Virgin Hotels Denver Fox Park, scheduled for 2026. Virgin Group, founded in 1970, encompasses various ventures, including airlines, cruise ships, and space travel. Virgin Atlantic Holidays generates thousands of room nights for Virgin Hotels in key cities like New York and Las Vegas. Virgin Hotels operates largely under long-term management contracts and franchises, like the 1,500-room Virgin Hotels Las Vegas. Virgin Limited Edition, the luxury resort arm, includes nine properties with room rates averaging $2,000 per night, and was founded in 2009. Virgin Hotels and Virgin Limited Edition were combined under Virgin Hotels Collection in 2023, following Jon Brown's departure.

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