David Eisen - 10 Minutes News for Hoteliers - Page 8

1 min

Learn from hotel procurement pros in our next webinar. Register now!

📝 On April 9th at 10:30 AM EST, HOTELS Magazine hosts a free webinar titled “Nimble Moves: How Hotel Procurement Adapts to the Policies of Change”. Industry experts like Jason Reader (COO of Remington Hospitality), Debbie Young (VP at Loews Hotels & Co), and Jeffrey Simmons (VP at Sodexo) will discuss the challenges and adaptations in hotel procurement. Registration is online via Zoom.

5 min

Salamander Collection crawls to head of D.C. class

🏡 Salamander Collection, founded by Sheila Johnson, recently added PGA National Resort as its seventh property. The acquisition by London-based Henderson Park marks PGA National in Palm Beach Gardens, Fla., as the second Salamander property to host a PGA Tour event, specifically the Cognizant Classic. Salamander Washington DC, formerly Mandarin Oriental Washington DC, underwent a renovation completed before January 20, showcasing a new Presidential Suite with White House-like features. The revamped property also includes a dual-story spa and a celebrated restaurant, Dōgon by Chef Kwame Onwuachi, ranked second on Washingtonian’s top regional restaurants within four months of opening. The renovation aimed to align with Sheila Johnson's vision, integrating equestrian elements and a home-like atmosphere to create D.C.’s living room.

4 min

In my room: The convergence of expectation and technology in the guestroom.

🛏 Dometic Group from Solna, Sweden, known for minibars, offers over 30 models including silent-operation units. Vingcard in Plano, Texas, part of Assa Abloy Group, provides eight types of electronic locking systems, including smartphone-enabled access. Philips Professional Display Solutions in Milpitas, California, features MediaSuite for guest entertainment without additional equipment. SuitePad from Berlin allows 70% of hotel guests preferring app communication to personalize their stay via in-room tablets. Hotel Technologies in Rahway, New Jersey, advances the multi-functional hotel alarm clock with charging stations and Bluetooth speakers.

3 min

Blackstone’s latest debt fund could be a salve for hotel investors

🏦 Blackstone announced the final close of their BREDS V real estate debt fund on Friday, securing $8 billion in capital commitments. This matches the record for such investment vehicles and signals a property-market rebound, particularly in the hotel sector. The fund targets vulnerable hotel assets, betting on a commercial real estate upswing. Blackstone Real Estate Debt Strategies is capitalizing on current market conditions by buying underperforming loans and filling financing gaps where banks are reluctant to refinance. Despite pandemic impacts and rising interest rates since 2022 affecting property values, large capital availability continues to drive investments.

4 min

Barry Sternlicht has brought back Starwood Hotels. Can it recapture its past successes?

🏨 SH Hotels & Resorts rebrands as Starwood Hotels; Barry Sternlicht retains ownership of the name despite Marriott International's 2016 acquisition of original Starwood brands. Starwood, originally a REIT, was acquired by Sternlicht in 1995. 1 Hotels launched in 2015, expanded to multiple cities including Brooklyn and London, with further expansion planned through 2025 in locations such as Seattle, Melbourne, and Copenhagen. Baccarat Hotels opened in New York in 2015 and plans to expand to global destinations including Rome and the Maldives. Treehouse Hotels, starting in London in 2019, aims to open in Manchester, Silicon Valley, and other locations. Starwood Capital, with $115 billion in assets, acquired 10 Edwardian Group hotels in January 2024. A new loyalty program and branded residences are in development, with Baccarat Residences and 1 Homes planned for Dubai, the Maldives, Riyadh, Melbourne, Crete, and San Miguel de Allende.

2 min

Digital detox: how hotels are helping us let go of the smartphone addiction

📱 Almost 5 billion smartphone users globally, estimated to reach 6 billion by 2028. Research suggests smartphones may hinder cognitive ability, sleep, and social skills. JPMorgan Chase CEO Jamie Dimon criticized excessive phone use in meetings. Hotels like Miraval and Vichy Celestins Spa Hotel promote digital detoxes, with Miraval enforcing device-free zones and Vichy locking away guests' devices. Haramara Retreat in Mexico offers rooms without electricity to help guests disconnect.

5 min

Simon Says: Corinthia Hotels is a challenger brand. Its CEO is looking to put an end to that.

📌 Simon Casson, with no high school or college degree, became CEO of Corinthia Hotels in 2024. Corinthia opened its first U.S. hotel, The Surrey, in New York. Casson's background includes over 30 years at Four Seasons, reaching President of EMEA. Corinthia, founded over 60 years ago, has 10 hotels and will open new locations in Bucharest (March), the Maldives, Riyadh, Qatar, and Malta. The Corinthia Brussels, a $150 million rebuild, opened in December 2024. The upcoming Corinthia Rome is in partnership with the Reuben Brothers. The company has also launched the Verdi Hotels brand in 2024.

6 min

Trinity Investments prides itself on being a clear-minded hotel investor. Its focus is paying off.

🏨 Sean Hehir, CEO of Trinity Investments, specializes in upper-upscale and luxury hotels, acquiring the Standard, London (266 rooms) in November 2024 and the Fairmont Olympic Hotel, Seattle (450 rooms) in December. In 2023, Trinity and Credit Suisse Asset Management purchased the 1,000-room Diplomat Beach Resort in Hollywood, Fla., for $835 million. Post a $90-million renovation in 2018, the resort secured a $575-million loan for repositioning under Hilton’s Signia brand. STR predicts a RevPAR increase in the luxury segment by 2.9% in 2025, 2.2% in 2026, and 2.5% in 2027, while forecasting a RevPAR decrease in the midscale segment by 0.7% in 2025. Trinity invested over $730 million in hotel assets in 2024, steering more than $8 billion in 25 years. Global hotel deals are expected to rise 25% in 2025.

4 min

In Ruby, IHG Hotels & Resorts hopes its found its magic slipper

🏡 IHG Hotels & Resorts acquired Ruby, a "premium urban lifestyle brand," for an initial $116 million with a potential future payment of $190 million contingent on room growth. Ruby, founded by Michael Struck in 2013, operates 20 hotels in Europe, with 10 more expected by end of 2027. IHG aims for Ruby's growth to over 120 hotels in 10 years and over 250 in 20 years globally. The acquisition includes franchise fees anticipated to be approximately $8 million in 2028 and in excess of $15 million by 2030. Integration of Ruby hotels into IHG's system will start in 2025 and be complete by March 31, 2026, incurring integration costs of about $10 million.

5 min

Marriott added more net rooms than Hilton in 2024. Does it matter?

📌 In 2024, Marriott International added 123,000 rooms, reaching 1.7 million globally and a 6.8% net growth. Hilton added nearly 100,000 rooms, a 7.3% net growth. Marriott's pipeline had 3,800 properties and over 577,000 rooms; Hilton's had 498,600 rooms. Conversions drove growth, with Marriott's MGM and Sonder deals adding 38,000 and 9,000 rooms, respectively. Marriott's Global RevPAR rose 4.3%, with U.S. and Canada's Q4 RevPAR up over 4%. Marriott added over 31 million new members to its Bonvoy program in 2024, totaling around 228 million. They also plan technology investments and property renovations, including the Elegant Hotels portfolio in Barbados. Marriott expects $80-90 million annual savings from restructuring, including 800+ layoffs at its Maryland headquarters from January 3, 2025.

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