Market Trends

📝 On December 23, 2024, Maria Navarro is featured discussing "What It’s Like Providing Hospitality During the Holidays." The Hospitality Daily Podcast, hosted by Josiah Mackenzie, showcases industry leaders sharing insights on delighting guests and successful business operations. Episodes are available on Apple Podcasts and Spotify, covering topics like hotel tech, leadership, and guest experiences. The podcast encourages learning to delight people, make money, and thrive in the hospitality business.

🚫 WaterWalk sold its Phoenix North Happy Valley hotel to Ignite Hotels LLC, with sale details undisclosed. WaterWalk Phoenix opened February 2023, featuring 126 units with both furnished and unfurnished options. It's the first of the Gen2 prototype for WaterWalk, which includes a single four-story building with studio, one-, and two-bedroom suites. The hotel remains under WaterWalk Hospitality management and is part of the WaterWalk Extended Stay by Wyndham brand, the 25th brand in Wyndham’s portfolio.

📊 Survey results on 21 Specific Travel Tech Predictions for 2025 reveal industry expectations vs. desires. Top expected changes: Asian OTA acquisition, cruise residences, India/SE Asia funding. Top desired changes: empathy pricing, inverse bidding, memorable insurance. Exception is 'tourist-free zones' with 33% likelihood and 39% want, suggesting industry alignment. 31% predict AI replacing customer service, but only 13% favor it. Predictions highlight a shift towards human-centric desires contrasted with structural/technological expectations. Industry leans towards addressing over-tourism and values human experience over consolidation and tech disruption.

🏖️ Nekajui, a Ritz-Carlton Reserve set to open in early 2025 in Peninsula Papagayo, Costa Rica, will be the first in Central and South America. With 107 ocean-facing rooms and suites, plus three luxury treetop tents, it joins eight global locations. Including a 872 square-foot base room size, one- and two-bedroom suites, a four-bedroom Grand Villa, and 36 private residences, the resort offers a 10-bedroom luxury home called Villa Guayacan. The dining options feature a signature restaurant by chef Diego Muñoz and various other culinary experiences. The 27,000 square-foot spa and wellness center includes a hydrotherapy pool and private cabanas. Guests can enjoy the 250-acre Palmares Preserve, watersports, and an Arnold Palmer Signature golf course.

🏨 Sandpiper Hospitality manages the new Everhome Suites Cheyenne in Wyoming, offering 114 suites with fully equipped kitchens. The pet-friendly hotel features a fitness center, free WiFi, and a Homebase Market. It's located near Francis Warren Air Force Base and Cheyenne Regional Hospital. The company also plans to open two hotels in Texas in early 2025, partnering with Choice Hotels International and Highside Companies.

🏨 U.S. hotel transaction volume peaked at $45.7 billion in 2015, then dropped to $8.1 billion in 2020 due to COVID-19 and recovered to $42.5 billion in 2022. September 2024 saw the Federal Reserve cut rates by 50 basis points, the first reduction since 2020, followed by a third consecutive cut in December to 4.25%-4.5%. Portfolio sales decreased to 8.3% of total volume in Q3 2024. SOFR is forecasted to fall to 3% during 2025-2027. Construction costs increased by 4.10% in Q2 2024, contributing to limited hotel development, with an increase in supply unlikely before late 2027 or early 2028.

🎐 "A Bamboo Sanctuary" wins Dezeen Awards China 2024 Interiors Project of the Year at a ceremony in Shanghai. The project also secures Home Interior of the Year, praised for its layout, size control, and material planning. Seven winners from five different cities, including Hong Kong, Beijing, Xiamen, and Shanghai, are announced. Entries judged by Kuang Ming Chou, Vera Chu, Vincent de Graaf, Wendy Saunders, and Dirk Zscherpe. The awards, in partnership with Bentley, highlight design that aims to improve the world.

🌸 Rosewood Hotels & Resorts will open Rosewood Miyakojima in Okinawa's Ryuku Islands, the first for Japan, on March 1, 2025. Accepting reservations, the luxury resort features 55 villas and three houses on a peninsula overlooking Oura Bay with a beach. Facilities include four restaurants and bars, an infinity pool, a spa with six treatment rooms, fitness center, and kids' club. Activities offered embrace local culture and environmental education. Rosewood manages 33 properties in 21 countries, emphasizing local history and culture.

🏕 Tui plans significant growth in Asia, aiming to more than double its portfolio of own brand hotels. Currently operating 18 hotels across six Asian countries, including resorts in the Maldives, Thailand, and Sri Lanka. New projects include Tui Blue and Tui Suneo brands, targeting a 2025 launch in China. Additionally, a new luxury brand, 'The Mora,' is being developed for Bali. Tui opened its first hotels in China and Malaysia in 2024 and expanded into Vietnam with Tui Blue Berawa. Tui's presence also includes Tui Blue Maduzi Bangkok in Thailand. Partnership-based expansions under management or franchise agreements are set for 2025. The strategy aims to cater to Asia's growing middle class and diversify Tui's global customer base, reducing dependency on the European market.