Market Trends

📅 Jason Himber, CEO of MINA Group, details his evolution from fast-food franchises to a fine dining empire. He shares leadership insights, the significance of being overprepared for success, overcoming challenges, and strategies to combat imposter syndrome, all while emphasizing the leveling playing field hospitality provides. Relevant to anyone in the hospitality industry seeking to enhance their business and leadership skills.

💰 Business travel poised to surpass 2019 levels by 6.2%, reaching $1.5 trillion in 2024, accelerating past projections, per WTTC report. In 2023, leisure travel almost rebounded to 2019 figures (-2.9%), while business travel lagged (-5.4%). The U.S. leads with a 30% share, expecting $472 billion (up 13.4% from 2019), followed by China at $211 billion (+13.1%). Germany's anticipated spend is $87.5 billion, marginally surpassing 2019, with the U.K. and France projected at $84.1 billion and $42.1 billion, respectively. The recovery is attributed to the significance of in-person interactions and the contribution of travel to global GDP, with a nod towards the mixed role of bleisure travel and the MICE industry's return to live events.

🏦 Wyndham Hotels & Resorts partners with NILE Hospitality LLP for the expansion of the Microtel by Wyndham brand in India, targeting 40 new hotels by 2031. The collaboration marks Wyndham's eighth brand in the country and will focus on Tier II, III, and IV cities, with the first openings planned for 2025. Each hotel will have a minimum of 50 rooms. The company, which currently operates 60 hotels in India, aims to grow by 25% within the next 18 months. Wyndham franchisees can leverage nearly $325 million in technology investments and a Wyndham Rewards program with 110 million members.

🏷 TAPIS Studio unveils the NOMAD Collection, a line of rugs inspired by the Greek concept of 'aesthesis', designed to offer a multi-sensory experience. Creative Director Micael Carvalho emphasizes the collection's intent to reconnect individuals with nature through sensory engagement. Designs infuse cultural and natural scents like vetiver, fig, and patchouli into visual and tactile forms, incorporating new shapes and bold patterns suitable for various interior styles. The collection aims to bring the essence of remote cultures and nature's beauty into homes, elevating comfort through nature-inspired elements.

📖 Dezeen collaborates with SketchUp to start a Design Workshops video series featuring designers like Julien Sebban and Tola Ojuolape. Launching in two weeks, the series will showcase Sebban's Uchronia, a Paris-based practice, explaining the creation of a 70s-themed bar interior using SketchUp. Sebban won emerging interior designer at the Dezeen Awards last year. London-based Ojuolape, also an award nominee, will share a library design proposal for Clerkenwell, London. SketchUp, by Trimble, is widely used for various 3D design projects.

🏨 STAAH, a hospitality company, hosts a Weekly Hotel Industry Quiz designed for both seasoned hoteliers and those new to the industry. The quiz aims to sharpen knowledge and stay updated with industry trends. Participants can join weekly and engage with a variety of questions about luxury hotel brands and hotel software. The quiz also invites sharing among colleagues and promises new quizzes each week for continuous learning.

🍺 BrewDog, in its 2023 financial report, disclosed a pre-tax loss of £59.2m, which widened from £30.5m in the previous year. However, revenue increased from £321.2m to £354.6m, and underlying trading EBITDA improved from a £12.8m loss to just £2.5m. CEO James Arrow, who succeeded co-founder James Watt earlier in the year, reports a significant operational efficiency improvement. In the first half of 2024, BrewDog achieved EBITDA positive trading with revenue reaching £137.5m. The company's global bar sales rose by 12.3% in 2023, and they continue to expand internationally, including new markets like Thailand.

📈 In Q3 2024, the Guest Experience Benchmark Infographic presents a summary of guest experience trends over the past three months, including regional breakdowns, in a concise PDF format designed for visual ease.

🍋 Yuzu, a citrus fruit with a tart yet sweet flavor and a distinctive floral aroma, is gaining traction in the US, featured on 5.9% of restaurant menus, marking a 29% rise in four years, according to Datassential. Its juice is used in various drinks and Japanese ponzu sauce, and it's increasingly adopted in desserts, marinades, and other sauces, particularly by independent and fine-dining venues. The fruit is most popular among Asian consumers.

🍽 Margo, a modern European restaurant, highlights Scotland's larder, led by Jonathan MacDonald of Scoop and chef Robin Aitken. With a focus on local seafood, meat, and in-house bread and pasta, the menu offers dishes like smoked haddock churros, beef tartare, and red prawn agnolotti. The drink list boasts fine wines and unique cocktails, like frozen martinis. Margo seats 138 and features an industrial chic design with an open kitchen. Located at 68 Miller Street, Glasgow, G1 1DT, another venue, Sebb’s, is set to open beneath it, offering a grill-centric menu.