Market Trends

🏠 Wyndham Hotels & Resorts, the world's largest hotel franchisor, enters a 10-year development relationship with Reside to launch residence-style hotels in U.S. cities like Houston and Washington, D.C. Wyndham Residence debuts in the U.S. with five hotels open or under development. Reside operates in 60 countries, complementing Wyndham's extended-stay segment with brands like ECHO Suites, Hawthorn, and WaterWalk. New locations include Reside Seattle Downtown (55 rooms), Reside Houston Downtown (79 rooms), and upcoming hotels in New Orleans (22 rooms), and two in Washington, D.C. (81 and 67 rooms, respectively).

🍴 Bret Thorn, Senior Food & Beverage Editor for Nation’s Restaurant News and Restaurant Hospitality, has guided F&B trends since 1999. Host of "In the Kitchen with Bret Thorn" podcast, he covered New York City’s restaurant scene for The New York Sun from 2005-2008. Before that, Thorn worked in Thailand as a writer (1992-1997) and ABC News runner in 1989. He's a Tufts University magna cum laude graduate, a Phi Beta Kappa member, and studied French cooking at Le Cordon Bleu. His editorial work earned him the 2006 Jesse H. Neal Award and a presidency at IFEC in 2005. Thorn authored food entries for Oxford Encyclopedia (2012) and Oxford Companion (2015), and was inducted into Disciples d’Escoffier in 2014.

🏦 The Surrey in Manhattan's Upper East Side, now The Surrey, A Corinthia Hotel, has reopened under U.K. billionaire owners Reuben Brothers. Acquired in 2020 for $150 million, the hotel offers 70 rooms, 30 suites, and 14 private residences. Serving as Corinthia Hotels' first North American property, The Surrey has been a New York fixture since 1926. The hotel features interior design by MBDS, suites with dedicated butler services, and the first New York Casa Tua eatery with a private members' club.

💰 Accor's Q3 2024 revenue increased by 12% to €1,434 million with RevPAR growth normalizing. Accor CEO Sébastien Bazin highlighted the role of luxury and lifestyle brands, high-potential markets, and the French Olympic Games in their growth. 47 new hotels with 8,000 rooms opened, marking a 3.2% net unit growth over 12 months; total portfolio reaching 838,826 rooms (5,638 hotels). Future projections include RevPAR growth of 4%-5%, net unit growth of 3%-4%, and an expected EBITDA of €1,100 million to €1,125 million. PM&E division revenue was €821 million, a 7% increase from Q3 2023, while luxury and lifestyle division revenue jumped 18% to €635 million. France's RevPAR rose 6%, Middle East and Africa's represented 20%, and Americas', mainly Brazil, saw an uptick from business demand.

🏥 Meg Kennedy and Rob Blood, founders of Lark Hotels, discussed hospitality innovation on their podcast episode from Oct. 25, 2024. They explored extended stay models and family-friendly accommodations during a road trip in Northern California. Insights include rebranding extended stays, creating hotel brands like Bluebird and Blind Tiger, and the benefits of partnerships and resort passes. They mention lodgings such as Dawn Ranch and Calistoga Motor Lodge, and discuss luxury in terms of access.

🏖️ DidaTravel reported hotel bookings from China's Golden Week (Oct 1-7, 2024) increased by 190% in the Americas, 78% in Europe, 77% in Asia-Pacific, and 106% in the Middle East. The average hotel stay remained at two nights. The top international destinations were Japan, Thailand, and Malaysia, with Bangkok and Tokyo being the most booked cities. Domestic travel favored Hong Kong, Shanghai, and Guangzhou. The data reflects Chinese travelers' evolving preferences and a resurgence in outbound tourism.

🏨 STAAH, a hospitality industry platform, invites both seasoned hoteliers and newcomers to test their knowledge with a Weekly Hotel Industry Quiz. The latest edition includes topics on luxury hotel brands and essential hotel software, aiming to keep participants informed on industry trends. Quizzes are available weekly, with past quizzes accessible for those who missed them. Participants are encouraged to share the quiz and strengthen their industry knowledge.

📖 Joanna Fantozzi, Senior Editor at Informa Restaurant & Food Group since August 2021, has over seven years in restaurant and hospitality journalism. Degrees: bachelor's in English literature and creative writing from The College of New Jersey, master's in arts and culture journalism from CUNY. Former positions: Freelance writer, Insider, The Daily Meal. Published in The New York Times, Forbes, Vice. Expert in restaurant industry news, innovations, political/cultural issues. Joined Informa in October 2018, previously at Insider (June 2017-Feb. 2018) and The Daily Meal (Jan. 2014- June 2017).

🏨 Europe saw a decrease in hotel construction with 163,135 rooms in September 2024, down 1.0% from the previous year. Germany led with 27,175 rooms, outpacing the UK's 24,733. Asia Pacific increased by 1.7% to 509,167 rooms, dominated by China's 322,440 and Vietnam's 35,810. Middle East & Africa's construction dipped by 4.3% to 110,229 rooms, while Saudi Arabia and UAE led with 41,828 and 18,959 rooms respectively. Americas grew by 9.5% with 209,312 rooms, with the US at 157,253, followed by Mexico, Canada, and Brazil.

🏠 Faena is expanding with the Faena District Miami River, featuring two towers designed by Rafael Viñoly Architects, offering 440 homes within a 14-acre park and 45,000 sq. ft. of cultural space. Hilton is opening the 118-room Hilton Udaipur in early 2026, aiming to triple its South Asian presence to 75 properties. Berkadia refinanced two Carlsbad hotels for $92.5 million with a 65% LTV. Mandarin Oriental Residences will bring 228 luxury homes to Saadiyat Island, Abu Dhabi, near cultural landmarks, with sales starting later in the year.