Revenue Management

📋 John Luckett returns to Kessler as president of hospitality, expanding on his 15-year tenure. Tiffany Cooper is appointed head of development for Americas by Mandarin Oriental Hotel Group. Jason Caughron takes charge as dual general manager for Courtyard Atlanta Midtown and Element Atlanta Midtown. Limelight Denver names Kim Corrigan as general manager, bringing over 30 years of experience. Simon A. Fricker joins Fairmont Miramar Hotel & Bungalows as general manager with two decades of experience. Full House Resorts, Inc. hires Jeff Michie as VP and general manager of Rising Star Casino Resort. Royal Sonesta New Orleans appoints Adrienne Breaux as director of sales and marketing. Mary Beth Seamands is named as director of sales and marketing by The Westin La Paloma Resort & Spa. Hyatt Regency Tamaya Resort & Spa welcomes Gerry Trumper as director of engineering. Central Romana Corporation appoints Jason Kycek as chief marketing officer. Terranea Resort adds Louis Gonzalez and Ador Bustamante to its executive team. Hawks Cay Resort introduces a new meetings and events team including Joshua Torai, Elise Gertenbach, Marissa Salway, Kimberly Hanna, and Marisela Baraniewicz.

💸 In April 2022, restaurant-related inflation peaked but has since declined, with full-service restaurants experiencing a 4.3% inflation rate and quick-service restaurants a 3.6% rate as of September, as reported by Square. Full-service restaurants have seen inflation rise since the year's start, in contrast to a steady decline in quick-service categories. Over the past seven years, labor costs have surged 73.9% for full-service restaurant employees and 60.2% for those in quick-service restaurants. Square highlights the ongoing operational challenges for restaurants, including balancing increased expenses with customer affordability.

💸 The Consumer Price Index in October increased by 0.2% and is up 2.6% year-over-year. Food costs rose 2.1%, with food prices overall up 2.3% year-over-year in September. Food-away-from-home prices soared 3.8% year-over-year compared to a 1.1% rise for food-at-home. October marked 20 consecutive months where restaurant pricing exceeded grocery pricing, with a 270 basis point gap noted by Kalinowski Equity Research. The U.S. restaurant industry may see 2024 as the worst same-store sales year since 2016.

🏨 IDeaS, founded in 1989, partners with over 30,000 hotels in 164 countries and has a 98% retention rate. Duetto, started in 2012, serves more than 6,000 hotels, focusing on dynamic rate adjustments and profitability. FLYR, partnering with over 2,000 hotels, leverages AI for revenue management. RoomPriceGenie, assisting over 2,500 hotels, was founded to optimize pricing for independent hotels. Atomize, established in 2016, has 500+ hotel partners and specializes in real-time pricing optimization using AI and machine learning.

💰 Choice Hotels International, Inc. reported a record total revenue of $428.0 million for Q3 2024, a 1% increase from Q3 2023. Net income rose 15% to $105.7 million, with diluted EPS up 23% at $2.22. Adjusted net income and adjusted diluted EPS also grew by 15% and 23%, respectively. Adjusted EBITDA ascended to $177.6 million, a 14% increase. The global pipeline expanded by 11%, reaching over 110,000 rooms, while hotel openings soared by 75%. Stock repurchase amounted to $352.9 million, over 6% of the company's early market cap. Guidance for full-year 2024 net income and adjusted EBITDA has been raised.

🏖️ Upmarket Leisure launched Cabana Club at ME Malta on November 4th. Located in St. Julians, part of Zaha Hadid-designed Mercury. Cabana Club, with a 200-cover Mediterranean restaurant, is open daily. Luciano by Gino D’Acampo, 300 seats, and Radio Rooftop arrive in early 2025. ME Malta has 140 rooms, while Mercury Suites features 48 suites and 450 apartments. Upmarket Leisure also reopened Radio Rooftop in London after a £2.5m refurbishment.

📖 Demand Calendar advocates for total revenue management in the hotel industry, encouraging hoteliers to adopt a lean approach with step-by-step implementation. They provide an integrated solution for data consolidation across all revenue streams, emphasizing customer-centric management. Their platform enables proactive data analysis, breaking down silos, and optimizing marketing for profitability. Demand Calendar's vision is to transform hotels' operational strategies to maximize revenue, control costs, and enhance guest satisfaction, thereby increasing profitability and ROI for investors.

💸 In September, inflation rose by a seasonally adjusted 0.2%, with an annual rate of 2.4%. Food prices increased by 0.4%, contributing to a 2.3% year-over-year rise. Food-away-from-home prices saw a 3.9% annual increase and a 0.3% monthly rise, while grocery/supermarket prices were up 1.3% from the previous year. Menu inflation has outpaced grocery prices for 19 consecutive months, with a 260 basis point gap favoring grocery stores in September. According to Circana, 86% of American eating occasions were home-sourced over the past year. Dining out costs four times more than eating at home, affecting restaurant visits and sales.

🏨 The article titled "Important Hotel KPIs to track in the Hotel Industry" lacks specific factual data, such as key facts, dates, locations, numbers, statistical information, or examples. Authored by Suniti Bahl, the article's intent is to educate on critical Hotel KPIs and includes information on analyzing hotel reports to improve performance and staff efficiency. However, no concrete data is provided. The article's URL is https://blog.hotelogix.com/hotel-kpi/, and it was last updated on October 18, 2024, at 04:30:40 UTC.