LODGING Staff - 10 Minutes News for Hoteliers - Page 150

1 min

CoStar: All Regions Besides Europe Increase Hotel Pipeline Activity

🏨 Europe saw a decrease in hotel construction with 163,135 rooms in September 2024, down 1.0% from the previous year. Germany led with 27,175 rooms, outpacing the UK's 24,733. Asia Pacific increased by 1.7% to 509,167 rooms, dominated by China's 322,440 and Vietnam's 35,810. Middle East & Africa's construction dipped by 4.3% to 110,229 rooms, while Saudi Arabia and UAE led with 41,828 and 18,959 rooms respectively. Americas grew by 9.5% with 209,312 rooms, with the US at 157,253, followed by Mexico, Canada, and Brazil.

3 min

This Week’s Comings & Goings

📈 Zen Valli appointed as RMS Cloud's chief revenue officer, having been managing director for EMEA. Matt Riley rejoined JLL's Hotels & Hospitality Group as senior director, specializing in hotel and resort transactions. Maverick Hotels and Restaurants promoted Vasileios Ioannoum to regional director of operations. Dorian Franklyn Phillips named general manager of The Art Hotel, Curio Collection by Hilton. Pierre-Alex Maillard became area general manager of VERANÓ Hotels + Resorts, leading VERANÓ San Juan. Desy Setiawati promoted to hotel manager at Mandapa, a Ritz-Carlton Reserve. Joe Mauro appointed as director of sales and marketing at The Ritz-Carlton, Boston. Kathryn Fink joined High Stakes Rooftop Grill as executive chef. L’Ermitage Beverly Hills appointed Todd Matthews as executive chef. Paul Funk named executive chef at Kimpton Journeyman Hotel. CBRE expanded with Mark Fluent, David Milestone, and Bill Moyer as vice chairs in Los Angeles. Club Med named Armelle De la Porte des Vaux as VP of marketing and Ron Gulaskey as VP of U.S. sales and strategy. Rosewood Hotels & Resorts announced four new leadership team members: Jillian Katcher, Natacha Cuvelier, Mitchell Laufer, and Jonne Buijtels as vice presidents. The Westin Alexandria Old Town appointed Ravi Gaur as general

1 min

CoStar: U.S. Hotel Rooms Under Construction Increases for Seventh Consecutive Month

🏢 In September 2024, U.S. hotel rooms under construction rose for the seventh month in a row. Construction saw 157,253 rooms (up 7.0%), final planning included 268,190 rooms (up 10.4%), and planning had 336,205 rooms (up 38.4%). Upscale and upper midscale segments represented 50% of rooms in the final pipeline phase. The luxury and midscale categories had the highest construction growth, at 48.5% and 34.5% respectively, with luxury accounting for 8,508 rooms (5.6%) and midscale 14,902 rooms (2.9%).

2 min

AHLA and World Wildlife Fund Revamp Hotel Kitchen Platform

🍴 The American Hotel & Lodging Association (AHLA) and World Wildlife Fund (WWF) updated the Hotel Kitchen platform to aid U.S. hoteliers in food waste prevention, with a 2030 goal to cut food waste by half. Since its March 2017 launch, over 36,000 hotel staff have been trained, resulting in a 17-38% reduction in food waste at pilot properties. Enhancements include new guidelines, quicker resource access, and improved online training with Lobster Ink. These efforts are part of AHLA's Responsible Stay initiative, promoting sustainability in the hotel industry.

6 min

Hilton Reports Q3 2024 Results

💰 Hilton Worldwide Holdings Inc. reported $344 million net income and $904 million adjusted EBITDA for Q3 2024. Diluted EPS stood at $1.38, adjusted EPS at $1.92. Q3 saw 1.4% system-wide comparable RevPAR increase and the addition of 36,600 rooms, achieving a net unit growth of 7.8%. Their development pipeline reached 492,400 rooms, marking an 8% growth. Hilton repurchased 3.3 million shares and projects full-year 2024 system-wide RevPAR growth of 2.0% to 2.5%, with net income between $1,405 million and $1,429 million. Full-year capital return is estimated at $3.0 billion.

3 min

AHLA: Hospitality Companies Reach Dignity of Work Pledge Goal

🏡 The American Hotel & Lodging Association (AHLA) and Procure Impact reached a milestone with $7.4 million pledged by 23 hospitality companies for 100,000 hours of paid employment to support vulnerable and marginalized workers. Procure Impact oversees 100+ U.S. suppliers, one example being Cameron's Coffee & Chocolates in Fairfax, Virginia, which employs 30 disabled individuals and services 90 hotels. Participating hospitality companies manage 1,800+ hotels nationwide. The Dignity of Work Pledge aligns with AHLA's Responsible Stay initiative for sustainability and social impact, aiming to create 1 million hours of work by 2030.

2 min

Marriott Launches Connect Responsibly Program for Meeting Planners

📈 Marriott International, Inc. announced Connect Responsibly with Marriott Bonvoy Events to enhance sustainability in meetings at Marriott Bonvoy hotels globally by end of October. Program provides Meeting Impact Reports for environmental assessment and carbon credit purchase options through South Pole collaboration. Reports, available in 11 languages, detail event carbon and water footprints. Marriott focuses on industry-informed sustainability, responding to customer demand for eco-conscious meeting solutions.

7 min

IHG Reports Q3 2024 Trading Update

📅 IHG's Q3 2024 trading update showed global RevPAR up 1.5 percent, Americas up 1.7 percent, EMEAA up 4.9 percent, and Greater China down 10.3 percent. Year to date (YTD) global RevPAR rose 2.4 percent. A 5.9 percent YOY gross system size growth with 17,500 rooms opened in Q3, and net system size up 4.1 percent YOY. Global system reached 968,000 rooms across 6,505 hotels. Q3 saw 19,200 new rooms signed, a 14 percent YOY increase. IHG's share buyback program for 2024 reached $614 million of the $800 million target, reducing shares by 3.7 percent, and the company is on track to return over $1 billion to shareholders. The Venetian Resort Las Vegas will no longer be affiliated with IHG from January 1, 2025, impacting less than 0.1 percent of revenue.

2 min

Hotel Alpenrock Breckenridge, Curio Collection by Hilton, to Open This Winter

🏖️ Hotel Alpenrock Breckenridge, a 205-room hotel, is set to open this winter in Colorado. Located at the base of Peak 9, it's near the Breckenridge Ski Resort and historic downtown. The hotel will feature two dining experiences, nearly 10,000 square feet of event space, and is part of the Curio Collection by Hilton. Breckenridge offers a historic district, over 70 restaurants, 200 shops, and a ski resort with five peaks and 187 trails.

1 min

CoStar: September Reports Mixed U.S. Hotel Performance Results

🏨 U.S. hotel industry performance in September 2024: Occupancy at 64.6% (↓2.5%), ADR (Average Daily Rate) at $162.63 (↑1.2%), RevPAR (Revenue per Available Room) at $105.04 (↓1.3%). New York City led Top 25 Markets with 87.0% occupancy due to events like the United Nations General Assembly, Fashion Week, and the U.S. Open. Lowest occupancy seen in New Orleans (53.6%) and Tampa (61.4%). Top 25 Markets outperformed others in occupancy and ADR.

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