Kathakali Nandi

🏨 Hospitality Ventures Management Group (HVMG) launches Elevate Renovations + Development, an Atlanta-based firm offering development, project management, and advisory services to the hospitality industry. For over 20 years, HVMG has managed projects for over 65 hotels. Elevate's recent work includes a $19.6 million renovation of The Darwin Hotel, completed in 9 months, earning two Gold Key Awards in 2023. The new entity expands HVMG's services beyond its portfolio to meet growing demand.

🏨 U.S. hotel industry forecast for 2025: ADR +1.6%, RevPAR +1.8%, occupancy up to 63.1%, indicating steady growth. Economic stability with low unemployment, slowing inflation, and solid business investment contributes to the positive outlook. High-end hotels expected to lead performance. Trade and immigration policies could pose risks to inbound travel. Labor costs stabilize, GOP margins improve slightly. Growth in group and business travel anticipated, F&B departments to see high growth rates.

🏨 Global Hotel Alliance (GHA) celebrated its 20th anniversary in 2024, posting a record total revenue of $2.7 billion, a 16% increase from 2023. Repeat stay revenue rose to $1.6 billion, up 15%, and cross-brand stays jumped nearly 30% to $370 million. Membership in GHA's Discovery loyalty program grew by 18% to over 30 million. GHA network expanded to 45 brands, 850 hotels, with seven new brands added in 2024, including Cheval Collection, Sunway Hotels & Resorts, and Paramount Hotels, translating to 68 new properties in locations like Sri Lanka, the Maldives, and Norway. A partnership with Plum Guide offered access to 40,000 high-end homes globally. International travel made up 67% of GHA's 2024 revenue, with the U.S. and U.K. being the largest markets. Direct bookings surged 42%, with room revenue up 37% year-over-year, and member spending per booking through direct channels increased by 88%.

🏖️ SLS Hotels & Residences, under Ennismore, to open SLS Punta del Este Residences in Uruguay with an 80-room hotel. The project, developed by GNV Group and designed by Gómez Platero, includes 314 luxury apartments and penthouses with amenities like rooftop pool, spa, and on-demand services. Sizes range from 67 to 223 square meters. Accor One Living supports the sector's growth, with Ennismore operating over 35 properties worldwide.