TOP NEWS

🏡 UKinbound recognized Blenheim Palace as the Sustainable Tourism Provider of the Year on 26 September during the Awards for Excellence ceremony, held at Liverpool Cathedral. The UK's inbound tourism industry, represented by UKinbound, generated over £31 billion last year. Blenheim Palace aims for Net Zero by 2027 and to sequester 230,000 tonnes of CO2 by 2050. Over 320 professionals attended the event, which also featured a convention with speakers like Scott O'Neil, CEO of Merlin Entertainments.

💾 Key facts: Choosing the right Revenue Management System (RMS) enhances profitability and simplifies operations. Considerations for an RMS include automation, real-time dynamic pricing, centralized control, and scalability. Independent hotels need user-friendly RMS with minimal manual intervention. Urban hotels require sophisticated RMS for real-time pricing adjustments. Hotel groups benefit from centralized control across properties. Hotel management companies need an RMS for efficient performance optimization across portfolios. Aligning RMS features with hotel needs is crucial for success.

🏩 Adam Zembruski, hotel investor and founder of Hospiamo, Inc. and the Hospitality Industry Impact Initiative, Inc., shares his journey from a front desk agent to COO and his return to hospitality's roots on Oct. 5, 2024. Highlights include the value of staying connected to front-line staff, overcoming industry challenges, and the therapeutic benefits of expressive outlets, all discussed in an episode of the Hospitality Daily Podcast.

🍳 José Andrés and partners have developed the José Andrés Group over 25 years, now featuring nearly 40 concepts across Chicago, Vegas, LA, Miami, NYC, Orlando, DC, The Bahamas, and Dubai. Vegas restaurants like China Poblano offer unique desserts such as the Giggling Buddha, and Jaleo's top dessert is Andrés' mom's traditional flan.

🏨 Hyatt Hotels Corporation announced a 25% increase in its select service pipeline in the Americas over three years, now over 50% of its total pipeline as of June 30, 2024. Caption by Hyatt revealed design and operational enhancements, including a cost-effective prototype for expansion. Hyatt Studios, since its announcement 18 months ago, boasts over 4,000 pipeline rooms and 250 deals in negotiation, with two recent groundbreakings and four hotels under construction, targeting openings in 2025 and 2026. Hyatt House and Hyatt Place are being upgraded based on feedback, focusing on operational efficiency and cost reduction.

💰 The Employment (Allocation of Tips) Act 2023, enacted after receiving Royal Assent in May 2022, mandates businesses to distribute 100% of tips to staff. Chef Calum Franklin will oversee Harrods’ The Georgian's evening menu, highlighting British cuisine and his signature pies, after his departure from Holborn Dining Room in summer 2022. Despite a turnover increase from £15.7m to £16.4m in 2023, Richard Corrigan Restaurants reports a £1.1m loss, contrasting with a 7% revenue rise and 57% adjusted EBITDA increase at Virginia Park Lodge, Ireland. Michael O’Hare closes Leeds restaurant Psycho Sandbar after seven months. StreetSmart's charity campaign, starting November 1, 2024, aims to raise funds with over 500 restaurants, including newcomers like Julie's and Kolae in London, and Mana in Manchester.

🏨 Peachtree Group is constructing a 19-story dual-branded hotel in uptown Dallas, featuring Marriott brands AC Hotel and Moxy Hotel, to open in summer 2026. The development adds 264 upscale rooms to the McKinney Avenue corridor, with AC Hotel offering 110 rooms and Moxy Hotel 154 rooms. Amenities include a signature Moxy Bar and Restaurant, an eighth-floor bar and lounge with an outdoor terrace, a fitness center, and a 261-stall parking garage. Peachtree has recently expanded its portfolio by 789 rooms and launched a restaurant management division.

🏨 U.S. RevPAR growth in 2024 revised down to 1.2% from 2%, with a stronger 2% increase expected in H2 over H1's 0.5%. Urban and airport hotels to outperform; resorts to underperform. Costa Rica's occupancy to surpass 67% from 2019; Colombia to attract over 6 million tourists. Europe's RevPAR growth slows to 5% due to weaker U.S. demand. Middle East H1 2024 shows a robust hotel performance. Asia Pacific sees RevPAR growth driven by 80bps occupancy increase, with China's outbound air travel nearing 90% of pre-pandemic levels by year-end.

💸 Small and mid-size hotels rely on the right OTA channel manager to update room availability, pricing, and bookings on platforms like Booking.com and Expedia. A proper channel manager streamlines operations, prevents overbookings, and maximizes revenue. Key considerations when choosing include real-time updates, integration with the Property Management System (PMS), user-friendly interface, dynamic pricing tools, and reporting analytics. Additional factors are OTA network coverage, customer support, cost, and scalability to support business growth.

💲 In June, a report showed 63% of hospitality businesses took a cut of employees’ tips, with 29% using them to cover costs and 28% taking a profitable share. The Employment (Allocation of Tips) Act, which prohibits businesses from withholding service charges from employees, was enforced this week, aiming to reallocate £200m yearly back to staff. A RSM UK survey found 80% of consumers support staff receiving 100% of tips. Ping Pong, a London-based restaurant chain, faced backlash for trying to circumvent the law with a 15% 'brand charge,' later reducing it to a 5% discretionary service charge distributed to staff.