Market Trends

🏡 Mirzoyan Studio renovated a two-bedroom Stalinka apartment in Kyiv, Ukraine, transforming it into a rental property with reflective surfaces and built-in oak furniture. The historical building's structural integrity influenced the careful planning and preservation of its character. The main living space now combines the living room and kitchen, separated by a wooden shelving unit, with stainless steel kitchen finishes. Mirrored closets and broken marble from a local supplier enhance the entryway and bathroom. Despite war-related construction delays and budget cuts, the project emphasized durable design and local materials.

🏠 YSG Studio renovated a seaside home in Byron Bay, Australia, with retro 1970s-inspired interiors. YSG director Yasmine Saleh Ghoniem designed period details like a sunken lounge, chrome additions, and a geometric patterned floor titled Checkmate. The kitchen was doubled in size, featuring a wooden screen and circular island. Vintage Italian dining chairs were reupholstered in chartreuse velvet, and terracotta pavers were laid in a grid pattern in living areas. Custom and vintage furniture pieces, including a Cassina Soriana chair, adorn the home.

🏩 Ernest Lee, Chief Commercial Officer at citizenM, highlights the significance of partnerships and collaborations in a podcast episode dated August 23, 2024. He discusses citizenM's approach to creating unique experiences, engaging target audiences, and leveraging resources efficiently. Lee also details a partnership with Yes Theory, a content creation team with nine million YouTube subscribers, showcasing the alignment with citizenM's brand mission. The episode is supported by Sojern, emphasizing the importance of building profitable guest relationships.

🍴 Bret Thorn, Senior Food & Beverage Editor for Nation’s Restaurant News and Restaurant Hospitality since 1999, reports on food and beverage trends and hosts "In the Kitchen with Bret Thorn" podcast. Wrote "Kitchen Dish" column for The New York Sun (2005-2008), worked in Thailand as journalist (1992-1997), and received the 2006 Jesse H. Neal National Business Journalism Award. A magna cum laude Tufts University graduate, studied French cooking at Le Cordon Bleu, Paris, and was inducted into the Disciples d’Escoffier in 2014. Lives in Brooklyn, NY.

📚 TrustYou's consumer research reveals generational differences in travel review behaviors. Millennials and Gen Z (18-39) read (84%) and write (66%) more reviews than Baby Boomers and Gen X (40-65), especially after a positive experience (37% vs. 24%). Baby Boomers and Gen X prefer hotel websites for reviews, while younger generations favor Google. For surveys, 83% of older travelers respond to emails, whereas 33% of younger ones prefer text messages. Negative reviews are considered genuine by 68% of older vs. 57% of younger travelers. Cleanliness is vital for Baby Boomers and Gen X (7/10), and Wi-Fi is crucial for 43% of Millennials and Gen Z. Younger travelers expect rapid responses to negative reviews, with 55% stating a response doesn't change dissatisfaction. The survey included 800 U.S. hotel bookers, 45% aged 18-39, and 55% aged 40-65, conducted in September 2022.

🥪 Mango habanero flavor is increasingly popular in the U.S., featured in various dishes and drinks. Despite habanero's spice, these mixtures highlight the pepper's floral notes and mango's sweetness. Market research by Datassential shows a 118% menu presence growth over four years, now at 4.8%. Its popularity is notable among Gen Z, millennials, and Hispanic consumers.

☕ Starbucks, the $86B coffee giant, reported a 4% global same-store sales decline YoY, with a 6% fall in store traffic and China experiencing an 11% decline. CEO Laxman Narasimhan cites economic weakness, reflecting trends also seen in other F&B chains. Howard Schultz, former CEO, criticized the company's direction, noting the erosion of the "Third Place" concept due to mobile app sales, which account for 31% of U.S. sales. Over 34m people hold $1.7B+ on the Starbucks Rewards App, and the company recorded $215m in breakage revenue in 2023. Starbucks is investing $450 million in the Siren System to streamline barista processes, despite customer concerns over the loss of community space, recommending a focus on experience rather than transactions.

🎶 Designed by Akin Atelier, JAM Record Bar in Sydney's central business district is a monochrome establishment seating 45 in an 80-square-metre space, featuring a decor inspired by Tokyo's mid-century listening bars. The owners, Justin and Bettina Hemmes of the Merivale hospitality group, named the bar after their parents and their music label, JAM Recordings. The interior includes 15,000 vinyl records, exposed pink fibreglass insulation for acoustic properties, and a central bar area. Kelvin Ho, with over 15 years and roughly 20 projects with Merivale, describes the design style as "simple and analogue but also refined," using materials like cork, plywood, and common insulation in a sophisticated manner. Chef Michael Fox and James Irvine contribute to the Japanese-inspired menu and crafted drinks.

🏠 London's Studio Est, founded in 2020 by Louise East, renovated an apartment inside the iconic Battersea Power Station, designed by Giles Gilbert Scott (1929-1955, decommissioned in 1975). The owner's vision was to mirror personal taste and the building's art deco heritage. Incorporating brutalist elements with softer textures, the design featured custom furnishings and vintage pieces like Mario Bellini leather chairs and a Charles Rennie Mackintosh Hill House Chair. The redevelopment added residential, office, and retail spaces; WilkinsonEyre and Foster + Partners contributed to the restoration and design, including an Apple office and store.