Market Trends

🏨 Gencom completed a $550 million recapitalization of the Fairmont Southampton resort in Bermuda, aiming for a major redevelopment and expansion of the 593-key property. Institutional lenders including Starwood Property Trust and Clarien Bank financed the deal. The renovation will modernize guestrooms, the lobby, meeting spaces, and ballrooms. The project includes a residential program with Fairmont-branded residences and is set to open in early 2026. Gencom's portfolio is worth around $8 billion, with 24 owned assets exceeding 7,000 rooms and a management affiliate with 240 properties totaling 50,000 keys.

🏗 Eighteen architects and designers, including Keiji Ashizawa, Patricia Urquiola, and Lee Broom, convened this week in London at the One Hundred Shoreditch hotel to finalize the winners of the Dezeen Awards 2024. From nearly 100 countries, over 4,000 projects were narrowed down to 225 shortlisted entries. The ceremony for the 46 award winners will be in November, with celebrations at the Dezeen Awards 2024 party. A special accolade, the Bentley Lighthouse Award, recognizes contributions to social and environmental sustainability. Tickets for the awards party in Hackney Church, London on November 26 are discounted by 20% for entrants and available at £270 for others, with an additional 10% off for groups of five or more.

🚧 Thermal destratification in hotels reduces energy consumption, balances room temperatures, and cuts costs. It evenly distributes air, reducing temperature differences and heat loss. Advancements include improved compressor technology, safer coolant gas, and optimal HVAC system programming. These innovations lead to more efficient energy use, lower replacement costs, and enhanced guest comfort. Purdue University's study highlights energy savings and guest satisfaction. This marks a sustainable, cost-effective future for hotel operations.

🍴 Berg Hospitality Group, founded by CEO Benjamin Berg, opened its first restaurant, B&B Butchers, in Houston in May 2015. Now, the group operates 16 restaurants across Fort Worth, Houston, and Arlington, Texas. The group's latest opening is Soy Cowboy, a pan-Asian-inspired eatery at the Loews Hotel in Arlington, and has plans for a partnership with Roark Capital-owned Carvel to launch Buttermilk Baby in Houston, a fast-casual concept reminiscent of a nostalgic soda fountain, with a second location in Sugarland, Texas, and an ambition to open 10 more within five years. Berg Hospitality also anticipates the launch of a speakeasy and Canopy Social rooftop bar in Houston in the next 6-7 months, along with expansion of other concepts like Turner’s Cut steakhouse in San Antonio and Austin. Berg emphasizes service and hospitality as core values in his business.

🌮 South Dakota's cuisine is evolving beyond American staples with restaurants like Justin Warner's Bokujo Ramen in Rapid City and Joseph Raney’s Skogen Kitchen in Custard drawing attention. Despite a population under 910,000 as per the 2022 census and challenging weather, the state's restaurant industry is growing, highlighted by four new independent eateries that demonstrate a shift in food and dining style.

🚿 Hospitality professionals require frequent towel replacement, making selection and procurement critical for cost management. Online purchasing offers convenience, such as one-click reordering and automatic reshipments. Criteria for choosing the best suppliers include towel quality, variety, price, ease of ordering, return policy, customer service, and overall shopping experience. The top ten recommended merchants are Towel Supercenter, Direct Textile Store, DZEE Textiles, Towel Hub, Bulk Linen Supply, Acme Mills, Textiles Depot, United Textile Supply, InnStyle, and Wholesale Textiles, Inc., featuring a wide range of products suitable for various sectors and focused on quality, customer satisfaction, and expedited shipping options.

🏖️ Hyatt Regency Samarafushi Maldives, set to open in 2027 by Hyatt and SingHaiyi, will add 130 private pool villas over 24 acres. Sheraton Grand Nashville completed a multi-year renovation led by Looney & Associates, featuring 494 rooms in one of the city's tallest buildings. TROBBU Boutique Collection, directed by Elías Barbosa, will open TROBBU Tulum in January 2025, offering 10 luxury villas in Mexico. Jumeirah Dar Al Masyaf in Dubai unveils refurbished Arabian Houses designed by La Bottega Interiors' Sahar Al Yasser.

🏨 Online reviews on platforms like Google and TripAdvisor are crucial for a hotel’s success, influencing reputation, ranking, and profits. Hotels should provide unforgettable experiences, simplify review submission with direct links and calls-to-action, and automate requests using tools like STAAH ReviewMinder. Engaging with all reviews, taking action on feedback, and promoting direct bookings through review incentives can also boost review quality and quantity. Consistent efforts in these areas can lead to enhanced online reputation and more direct bookings.

🍴 Award-winning chef Sean Brock opened Joyland's first location in Nashville in 2020; the second opened in Birmingham, Ala. in mid-August. The fast-casual restaurant serves biscuits, burgers, fried chicken, and features a popular Crustburger. The Birmingham location seats 84 inside and 49 on the patio. The menu includes items like breakfast burritos, biscuit sandwiches, and seasonal hand pies. Organic chicken is sourced from Springer Mountain Farm in Georgia, and Bear Creek Farm in Tennessee provides a proprietary beef blend. Joyland is in partnership with Nick Pihakis of Pihakis Restaurant Group and Southall Farm & Inn founder Paul Mishkin. More Joyland locations are expected to open in the South in the coming months.

🍽 Fine dining offers an immersive experience with exquisite food, impeccable service, and elegant ambiance. Key characteristics include tasteful decor, formal attire, and etiquette standards. Culinary reputation is built on awards and reviews. Menus feature high-quality seasonal ingredients and include prix fixe, a la carte, and tasting options with signature dishes demonstrating creativity. Service is professional with trained staff, sommeliers providing wine expertise, and synchronized serving. Fine dining differs from fast food with its focus on luxury and gourmet preparation, while fast casual and casual dining offer less formality and more affordability.