Market Trends

🏡 The Crawford Hotel at Denver Union Station, originally established in 1881, reopened in July 2014 following a $54 million renovation. The latest refresh includes updates to the Great Hall and 112 guestrooms. The redesign was led by Sage Studio and DLR Group, with public spaces revamped by Goodrich. The Crawford introduced The Parlour, a new lobby with private elevator access. Guestrooms feature custom-made furniture in jewel tones, local art, and Grown Alchemist bath products. Upgrades include Loftie alarm clocks with custom content. Denver Union Station is owned by Union Station Alliance and hosts various shops and restaurants, with new additions set for early 2025.

🏨 In Washington, CoStar's data revealed a decline in U.S. hotel industry performance for the week of January 5-11, 2025, compared to the same period in 2024. Occupancy dropped by 7.7% to 49.2%, ADR decreased by 5.9% to $144.03, and RevPAR fell by 13.2% to $70.92. Tampa experienced the highest gains with occupancy up 18.2% to 79.1%, ADR rising 7.6% to $178.42, and RevPAR increasing 27.2% to $141.20. Los Angeles saw occupancy grow by 5.7% to 65.0% and RevPAR by 8.6% to $122.63 due to fire displacement demand, while San Francisco's RevPAR plunged 78.1% to $85.89, affected by the J.P. Morgan Healthcare Conference calendar shift.

🏠 London, as a global hub, welcomed around 20.3 million overnight visitors in 2023, according to the Office for National Statistics (UK), nearing the 2019 pre-pandemic level of 21.7 million. This influx boosts accommodation demand and supports the tourism sector, highlighting the city's diverse events from business conferences to cultural and sporting activities as key drivers of tourism performance.

💰 Aimbridge Hospitality, the world's largest third-party management company, has agreed to convert over $1.1 billion in debt into equity and inject $100 million in new capital. This deal will reduce Aimbridge’s debt from $1.3 billion to a maximum of $210 million. First- and second-lien lenders have shown "overwhelming support," with first-lien lenders becoming majority owners. Although not explicitly stated, the Restructuring Support Agreement (RSA) often precedes Chapter 11 bankruptcy proceedings. Aimbridge, under CEO Craig Smith, aims to strengthen its balance sheet and continue investing in operations, targeting improvements and industry leadership. The company manages over 1,000 hotels in more than 20 countries and has recently reshaped its operational structure for greater efficiency.

🏢 Anthony Torres, a top hospitality food and beverage leader, led the Grand Wailea to a $30M revenue growth over two years. Details were shared in a Hospitality Daily Podcast episode on Jan. 16, 2025. The episode was supported by Shiji Group, a global hospitality technology company. Music was produced by Clay Bassford of Bespoke Sound. More resources and episodes featuring Anthony Torres are mentioned.

📌 In 2024, an election year with economic challenges, the Travel Prediction 2025 report surveyed travelers from 33 countries, revealing wellness and comfort as top travel priorities. Singapore Changi Airport was highlighted for its appealing facilities. Over one-third (34%) of travelers look for airports with enticing amenities, while 60% seek improved pre-departure facilities. Wellness trends such as body vibration therapy (56%) and red light therapy (52%) are in demand, with 67% planning to continue treatments post-vacation. Nearly half of neurodivergent travelers (49%) have had negative experiences due to a lack of accommodation for their needs, and 68% would appreciate more sensory rooms, while 74% desire noise-blocking options. The industry sees these evolving preferences as an opportunity for transformative travel experiences by 2025.