Market Trends

🏩 Charlie MacGregor, founder of The Social Hub, discussed hybrid hospitality on Oct. 9, 2024. The concept involves blending various groups and using space flexibly. Benefits include creating vibrant areas, maximizing revenue, and promoting a fun, safe environment. The model enhances business agility and robustness. MacGregor detailed what hybrid hospitality is (01:30), the environment it creates (03:07), connecting workers through co-working spaces (04:32), and business agility (09:25).

🏢 Vision Hospitality Group's Mitch Patel is optimistic about development, expecting 2-2.5% demand growth next 5-7 years, outpacing predicted 1% supply increase. Construction costs have stabilized, encouraging development, according to Julie Richter of Concord Hospitality. Starwood's Ben Rosenbaum indicates market limitations, with RevPAR not supporting new development costs. Business travel recovery has improved but might not reach pre-COVID levels, with Dave Pollin of The Buccini/Pollin Group estimating 85% recovery. Extended-stay market received a lift between 2020-2022, but recent months saw a 2-3% RevPAR decrease in the economy segment. Despite this, long-term demand for the new extended-stay supply is expected to be sufficient.

🎭 In Jeddah, Art Jameel announces Hayy Jameel’s new autumn 2024 programme, featuring a group exhibition "We Saw an Endless Cycle" from November 27, 2024, to April 19, 2025, and a solo exhibition, "Moving Mountains," until October 26, 2024. Hayy Cinema hosts Horror Week (October 23 - November 3, 2024) and the "My Heritage Documentary Competition" (October 24 - 31, 2024). Hayy Markets is on November 22-23, and Hayy Matsuri, a cultural Japanese festival, is planned for January 2025.

📌 Dezeen Awards 2024 shortlists interior design projects from Keiji Ashizawa, India Mahdavi, Mesura, and Unknown Works among 49 studios spanning UAE, Sweden, Hong Kong, Canada, and Portugal. Japan leads with eight nominations, followed by the UK's five, and four each from the USA, Spain, and Australia. The winners will be announced at the Dezeen Awards party on November 26, 2024, in London. Renowned designers and architects like Bobby Berk, Patricia Urquiola, and Brigette Romanek are part of the jury. Partnerships with Bentley highlight a shared commitment to design excellence and sustainability.

🌺 Hibiscus, also known as 'jamaica,' is trending on U.S. restaurant menus, featured in 10.2% of them—a 30% rise in four years, according to Datassential. This flowering plant, recognized for its vibrant hue and tart flavor, is rich in antioxidants and vitamin C. Popular in teas, cocktails, syrups, and desserts, hibiscus is most common in independent and fine-dining restaurants, aligning with the demand for global flavors and floral notes.

📊 To win a B2B deal, companies must position against three options: sticking with the current solution, choosing a new solution, or doing nothing. Demonstrating differentiated value, reducing the pain of change, increasing customer’s confidence, and decreasing deal risk are strategies to combat these options. Companies should help buyers understand trade-offs, manage stakeholder objections, and offer direct recommendations. Breaking deals into smaller phases and offering guarantees or proof of concept can reduce perceived risk. 📈

🏫 Lady Henrietta Spencer-Churchill, a 12th-generation member of the Churchill family, reveals Britain’s Blenheim Palace in her 12th book, ‘Blenheim – 300 years of Life in a Palace’. Blenheim Palace is a UNESCO World Heritage Site, renowned for baroque architecture and English heritage. The book features photography by Hugo Rittson Thomas and covers private, staff, and stateroom areas. It was launched at Blenheim Palace and is sold at Woodstock Designs, the palace gift shop, Amazon, and other online retailers. Lady Henrietta studied Art History, attended Inchbald School of Design, and runs Woodstock Designs and Spencer-Churchill Designs Inc.

🏨 Saudi Arabia has made a strategic move to boost its hospitality sector by waiving hotel licensing fees. This bold initiative is expected to stimulate growth in hotel offerings, although the article does not specify the effective date or the duration of this fee waiver. There are no specific numbers, statistical data, or other factual information provided regarding the impact of this policy change. The article image was uploaded in October 2024 but lacks further context or details. Author: Debiprasad Sarangi, associated with @Hotelogix.

📋 In a recent podcast, Adam Zembrowski, an operations leader and hotel investor, discussed systemic issues in the hospitality industry that impact innovation and staffing. Despite wage increases from $10 to $15, employees still need multiple jobs to make ends meet. Zembrowski criticized nonprofit organizations for being ineffective in supporting hotel workers and emphasized the disconnect between industry executives and front-line staff. He highlighted the need for hospitality leaders to connect with the next generation and recommended DECA, a high school program promoting business skills, as a way to engage and mentor youth. His perspective challenges the industry to adopt a more abundant mindset and prioritize genuine progress over maintaining the status quo.

🍴 Holy Basil Market, designed by Weiszblüth & Brown, is a compact Thai restaurant in Los Angeles with a second location in Atwater Village. Occupying just 90 square feet, it boasts 16 seats, emulating the feel of a bustling Bangkok street market. The space features stainless steel counters, small chairs, stools, and flexible tables with vinyl-wrapped tops displaying food imagery. Red baskets are used for storage and can be rearranged as table bases or extra stools. Additional seating is available outside under a neon sign.