Market Trends

🏡 In Tempe, Arizona, the 148-key dual-branded Fairfield Inn & Suites and TownePlace Suites Hotels opened in March, managed by Aqua-Aston Hospitality. They feature a custom-designed 30-meter saltwater pool and Old West-themed Way Station restaurant with a weekly live music event. The pool area includes a hot tub, firepit, and 'peninsula' living room with firepits seating. Artist Randi Egley created the "Vistas and Valleys" poolside mural inspired by the native desert. The design emphasizes luxury fabrics and indigenous flora to reflect the desert environment and modern western culture.

🍺 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.

💸 Teen spending increased by 6% year-over-year to $2,361. Nike remained the top brand despite a 4-point drop among females and upper-income teens. Lululemon held the third rank in apparel with a slight decrease in mindshare. New Balance's mindshare among upper-income teens jumped to 8%. The beauty wallet reached a peak since Spring 2018 at $342, with fragrance sales soaring by 25%. Ulta and Sephora saw slight declines in beauty shopping preference, while Target gained 4 points. e.l.f. cosmetics gained 6 points in share among female teens. Teens favor energy drinks over coffee and soda, with Monster and Red Bull leading. Goldfish topped snacks preferences. Roblox's active use climbed to 46%, and gig economy leaders included Uber and DoorDash. 87% of teens own iPhones, with 30% looking to upgrade due to Apple Intelligence. Walmart is shopped by 61% of upper-income vs. 81% of average-income households. Teen females prefer shopping at Target, especially for beauty and non-food items. Stanley Cups became the second most popular trend for teen women. Piper Sandler's "Taking Stock With Teens" survey involved 13,515 teens with an average age of 15.8 years.

🏦 Peachtree Group in Atlanta, Georgia, surpassed $1 billion in loan originations year-to-date and projects to exceed $1.75 billion in 2024. Hotels lead sector growth with $639 million in credit transactions, a 176% increase from last year, while multifamily originations follow. Notable deals include a $47.0 million loan in Bradenton, Florida, and a $41.9 million loan for the Kimpton Sylvan hotel in Atlanta. Private credit lenders are filling a capital gap as debt maturities may reach $1.5 trillion through 2025. Peachtree is the seventh-largest U.S. commercial real estate investor-driven lender.

🏨 Autograph Collection's new hotel, Kali Hotel and Rooftop, to open in 2026 in Inglewood, California, adjacent to SoFi Stadium and YouTube Theater. KPC Development partners with Clayco, Lamar Johnson Collaborative, and Sixteenfifty Creative Intelligence for the 13-story, 300-room (including 34 suites) hotel featuring three dining concepts, a fitness center, pool, yoga deck, and 20,000 square feet of event space, plus 315 parking stalls. Valor Hospitality Partners expands into Saudi Arabia with the Hijla Hotel in Abha, set to open in 2025, offering 151 rooms and suites, two dining venues, pool, wellness center, and meeting facilities. Brittain Resorts & Hotels adds eight Florida properties to its management portfolio, now totaling over 4,000 rooms and 22 properties. The Ritz-Carlton is set for a 2027 return to Cancun, Mexico, with a 131-room luxury hotel and 126 residences, featuring an oceanfront pool, spa, and six restaurants.

This article was written by Travolution. Click here to read the original article Unemployment rate is predicted by the Bank of England to rise from 4.1% to 4.6% The travel…

🍴 Tyler Florence, celebrity chef, restaurateur, and TV personality, emphasizes the value of creating memorable experiences in his restaurants over his TV shows and cookbooks. He believes restaurants are the most crucial part of his work, as expressed in a podcast episode dated Oct. 13, 2024. Florence has been featured on The Food Network for 28 years and plans to continue working in restaurants for life. His 17th cookbook is titled "American Grill," and one of his establishments is the Miller & Lux restaurant. Additionally, chefs Thomas Keller and Daniel Boulud were mentioned in the episode.