Market Trends - 10 Minutes News for Hoteliers - Page 125

2 min

Virgil’s 30th anniversary, happy hour at Mermaid Inn, and Christmas decorations at Pete’s Tavern

🍽 Bret Thorn, Senior Food & Beverage Editor for Nation’s Restaurant News since 1999 and Restaurant Hospitality since 2016, previously wrote for The New York Sun (2005-2008), Asia Times, and Manager magazine in Thailand. He graduated magna cum laude from Tufts University in 1990 and studied at Le Cordon Bleu in 1986. Thorn won the 2006 Jesse H. Neal Award, was president of IFEC in 2005, and was inducted into the Disciples d’Escoffier in 2014. Contact: [email protected]

1 min

Sesame balls, a trending Chinese snack

🍜 Sesame balls, a Chinese snack with rice flour dough and sweet fillings, have increased in popularity on restaurant menus by 36% in the past four years. Datassential's Menucast predicts a further 25% growth over the next four years, as American consumers develop a taste for Asian-inspired treats like mochi and boba. The snack's appeal lies in its crispy, sesame-coated exterior and chewy interior.

2 min

Boka Restaurant Group and Stephanie Izard to open Valley Goat in Silicon Valley

🍕 Boka Restaurant Group, founded in 2002, is launching Valley Goat in Sunnyvale, California, at the Treehouse Hotel Silicon Valley, marking its first Northern California venture. The new 250-seat restaurant, headed by famed chefs Stephanie Izard—a "Top Chef" and "Iron Chef" winner—will open early 2025, offering lunch, dinner, and later brunch. The menu will feature shareable dishes highlighting local produce and globally-inspired flavors, alongside a bar with seasonal cocktails, local brewery and winery selections, and an extensive wine list.

2 min

voco Winchester Hotel & Spa hosts a grand opening event!

🏦 voco Winchester Hotel & Spa celebrated its rebrand and refurbishment on Thursday, 14 November with 100 attendees. The 8-month transformation from Holiday Inn to voco cost £2 million. The hotel, built in 2010, is near South Downs National Park and Winchester City Centre. It underwent a £2.5 million refurbishment in 2019. The 131-room hotel features new premium and grand rooms with enhanced amenities and 9 event spaces. Kitchen 21 offers unique 21-inch pizzas, and the Ana Spa was added in 2019.

BetMGM Rewards Points Now Combined Into Single, Digital Wallet

💰 BetMGM enhanced customer experience by consolidating BetMGM Reward Points into a single account, allowing points to travel across jurisdictions. In August, BetMGM was the first to offer a single, digital wallet for Nevada bettors, providing seamless nationwide connectivity. CEO Adam Greenblatt emphasized the rewards program's integration with MGM Resorts and partnerships like Marriott Bonvoy. BetMGM operates in 29 North American markets, offering rewards redeemable at physical MGM Resorts or for Marriott Bonvoy Points among other options. Responsible gaming education, including GameSense, remains a focus for BetMGM.

4 min

Accor Finds Professionals Value Face-to-Face Meetings

📈 Accor's study with 9,000 professionals worldwide reveals 85% expect a 36% revenue increase by prioritizing in-person meetings. Professionals believe they could close 37% more deals face-to-face, with 81% agreeing better outcomes would result. In-person meetings are considered worth the investment by 35% of respondents, with 92% finding them important for external and 85% for internal interactions, and are preferred threefold over virtual meetings. Key reasons for business travel include closing deals (34%), client/contract negotiations (31%/30%), and attending events/trade shows (30%). Despite digital tools' convenience, a hybrid model of digital and in-person meetings is now standard, with human interaction remaining crucial for successful business endeavors.

IHG Hotels & Resorts Selects HotelKey as First Approved Cloud-based Property Management System in the U.S. and Canada

📈 Accor's research reveals professionals believe revenue could increase by 36% with all key meetings in person. 9,000 professionals globally indicate 85% expect revenue boost from prioritizing face-to-face meetings. One in-person meeting equals three virtual ones in impact, with 41% favoring in-person for business effectiveness. Key reasons for business travel include closing deals (34%), client and contract negotiations (31% and 30%, respectively), and events/trade shows (30%). Despite digital tools, 68% prefer in-person client presentations, with a strong preference for direct interactions in high-stakes situations like deal closures (74%) and negotiations (70%). A hybrid model of digital and in-person meetings is emerging, with a focus on the irreplaceable value of physical interactions for business success.

4 min

Phunware Survey on Resort Guest Digital Experiences Highlights Connection Between Mobile App Integration and Guest Satisfaction

📈 Accor's study with 9,000 professionals indicates 85% believe prioritizing in-person meetings could significantly boost revenue by an average of 36% within a year. A potential 37% more deals could be closed face-to-face. In-person meetings are considered more effective by 92% for external and 85% for internal interactions, equating to the impact of three virtual meetings. Business travel is driven by a 34% need to close deals, while 68% prefer in-person client presentations, and 77% for site inspections. Despite digital advances, the human touch remains critical for business success and fostering relationships.

Pickpad Receives CES 2025 Innovation Award for Restaurant Tech

📈 Accor's research, involving 9,000 global professionals, finds a projected 36% revenue increase from in-person meetings. A striking 85% believe prioritizing face-to-face interactions can significantly boost revenue. Professionals estimate 37% more deals closed with in-person meetings, with 81% agreeing on better business outcomes. In-person meetings are deemed more impactful than virtual ones, equating to the effectiveness of three virtual meetings. The primary driver of business travel is closing deals (34%), with client presentations (68%), and contract negotiations (70%) preferred in person. Sophie Hulgard, Chief Sales Officer at Accor, emphasizes the irreplaceable commercial value of face-to-face interaction, suggesting a hybrid future for business interactions.

2 min

Hotels as Gateways: Connecting Guests to Authentic Destination Experiences – Christine Morairty, Palisades Hospitality Group

🏨 Christine Morairty, VP of Brand + Marketing at Palisades Hospitality Group, discusses hotel's role in enhancing travel experiences on Nov. 21, 2024. The episode highlights strategies for hotels to immerse travelers by collaborating with local businesses, blending tradition with innovation, and using "intuitive programming." Palisades Hospitality Group's Mosaic collection exemplifies this approach. Sponsored by Sojern, the episode also mentions a report on building profitable guest relations.

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