TOP NEWS

🎵 Accor's research predicts 2025 travel trends, revealing 1 in 7 Brits will use AI-driven 'AI-tinerary'; searches for this tech in travel increased 100% in a year. 58% prefer lesser-known places, with "hidden gem holidays" searches surging 150%. 24% of Brits plan solo trips, as related searches grew 30%. Food tourism attracts 32%, "cooking tourism" queries up 250%. Concert travel is popular, with 32% planning trips around music events like Oasis, Coldplay, and Dua Lipa tours in 2025. Top 2025 destinations: New York City, Singapore, Maldives, Mauritius, Dominican Republic.

📌 Hospitality Hued, led by founder Ashli Johnson, aims to elevate Black and Brown leaders into positions of leadership and ownership in the hospitality industry. The initiative provides hospitality professionals with tools, networks, and insights for success. Ashli emphasizes the transferability of hospitality skills to other industries, noting the sector's attractiveness for its mix of business and heart. She credits the late Ray Bennett of Marriott International as a formative influence, highlighting his dedication to accessible leadership and creating opportunities for others. Hospitality Hued is actively changing recruitment strategies to address the lack of diversity in hotel executive leadership. Ashli Johnson's work exemplifies a commitment to a more inclusive and equitable hospitality industry.

🏨 U.S. hotel performance year to date shows demand nearly flat (+.1%), RevPAR growth at +1.1%, occupancy down (–.5%), TRevPAR down .3%. Labor costs increased by 5.7%, with GOPPAR declining by 8.9%. Group business is up, driving F&B revenue to 106.9% of 2019 levels but 87.9% when adjusted for inflation. Total F&B expenses PAR rose by 9.6%, with labor costs up 5.1%. In full-service luxury, upper upscale, and upscale properties, F&B revenues PAR increased by 7.5%, but margins are 1.6 points lower than 2019 due to a 26.3% increase in F&B labor since 2019. Top 25 Markets saw a 4.4% rise in F&B revenues PAR, but also an 8.5% increase in expenses; highest growth in Dallas, Atlanta, Nashville, lowest margins in San Francisco, NYC, Philadelphia. Only eight markets had higher profit margins than last year. Technology and menu curation are being used to improve margins.

🏢 Phoenix, Arizona led the top 25 markets in year-over-year growth at 19.7% according to Cendyn's Sales Intelligence, with Las Vegas, Nevada close behind at 17.7%. The data from October 2024 showed Phoenix's event volume growth driven by sectors like national association, technology, healthcare, and financial/banking, with an average event size of 5,612 square feet and 174 attendees. Secondary markets showed significant growth with South Michigan at 99.2% and Kauai, Hawaii at 72%, with the former likely boosted by football-related activities and the latter by weddings among other events. The top secondary markets had an average space usage of 3,841 square feet and an average of 128 attendees per event.

🏨 U.S. hotel industry saw occupancy rise to 60.8% (up 1.9%) with an ADR of $154.99 (up 1.2%) and RevPAR of $94.22 (up 3.1%) in the week of October 27-November 2, 2024. Tampa experienced a 34.7% occupancy increase to 80.5% due to Hurricane Milton. New Orleans reported ADR and RevPAR spikes of 27.7% to $222.51 and 53.3% to $169.73, respectively, attributed to Taylor Swift's tour and a major conference. Las Vegas and San Francisco faced RevPAR drops of 28.8% to $151.47 and 14.9% to $123.16, respectively.

🍴 Northcote's Obsession, a gourmet festival in Europe, marks its 25th year from January 24th to February 9th, 2025. Featuring 21 chefs with a combined 27 Michelin stars, the event will unfold over 17 nights at the luxury Lancashire hotel, Northcote. Chefs from around the world, including Singapore and South Africa, will participate. Obsession began in 2001 and continues to offer guests memorable culinary experiences. Tickets for Obsession25 go on sale on November 13th, priced at £220 per person, with optional wine flights from £70.

🏨 Global hotel RevPAR rose 13% in Q3 2024 compared to Q3 2019, attributed to events like Taylor Swift’s Eras Tour and the Paris Olympics according to JLL. Asia Pacific demand was unstable, influenced by China's economic slowdown. Cross-border investment surged, with U.S. private equity focusing on Europe and Asia. International travel nears full recovery, urban RevPAR outperforms 2019. Transactions in Q3 2024 reached $42.1 billion, 953 in total, with luxury trades exceeding $2 million each. Top markets were London ($2.1 billion), New York ($1.6 billion), and Osaka ($1.4 billion).