TOP NEWS

🏨 Wyndham Hotels & Resorts, known for its economy segment with brands like Days Inn, spun off in 2018 and now has 25 brands. President and CEO Geoff Ballotti discussed the company's Q2 2024 earnings, mentioning a growth slowdown four years post-COVID. U.S. RevPAR for select-service segments grew 2.6% annually since 2000. STR predicts RevPAR growth of 2% for 2024 and 2.6% for 2025. Wyndham's Echo Suites Extended Stay launched in 2022, with the first location in Spartanburg, S.C., and a pipeline of over 270 properties. New supply in the economy segment is down 1-2%, with a shift towards extended-stay, expecting 6% annual growth. Wyndham opened more than 18,000 rooms in Q2, 16% more domestically than the previous year, and its global development pipeline increased 7.4% YOY to 245,000 rooms. Internationally, room growth was 8%, with RevPAR up 7%. They're leveraging technology like Wyndham Connect and anticipate an additional $15 million in adjusted EBITDA by 2026 through royalty rate increases. The company also sees the $1.2-trillion Infrastructure Investment and Jobs Act as a potential $3.3-billion opportunity.

🏨 Accor's H1 2020 revenue increased by 11% to €2,677 million ($2,903.05 million), with RevPAR up by 6%. Premium, midscale, and economy division grew 4% to €1,473 million ($1,597.38 million), while luxury and lifestyle surged 22% to €1,243 million ($1,347.96 million). Potel & Chabot takeover contributed €117 million ($126.87 million) to the latter. Group EBITDA rose 13% to €504 million ($546.55 million) despite currency impacts. Accor opened 146 hotels, totaling 24,000 rooms, and expects 2024 RevPAR growth of 4-5% and EBITDA between €1,095 million ($1,187.46 million) and €1,125 million ($1,220 million).

🔔 Over 70% of guests would pay extra for preferred amenities, impacting booking decisions and review positivity. Epic Hotel in Miami and Dorsett Hotel in Hong Kong cater to niche markets with personalized amenities, while Brewdog craft beer hotels and Hard Rock offer unique experiences. McKinsey found that 71% of consumers expect personalized interactions, with 76% frustrated when absent. Tailored amenities, like monogrammed pillow slips at The Peninsula Beverly Hills, enhance guest experiences. Oracle and Skift report 43% desire voice-activated room controls. Hotel 1000 in Seattle integrates heat sensors and offers Topgolf Swing Suite, while InterContinental in China introduces AI service rooms. Personalization, unique offerings, and advanced technology are key to guest satisfaction.

🚧 NTIA leads a campaign to save Boxpark Shoreditch after closure announcement. Founding in 2011, Boxpark created over 1,000 jobs, contributed £80m annually to the local economy, totaling over £1bn, and welcomed 10 million visitors. Negotiations for site extension failed despite efforts with multiple stakeholders. Lease expiration and planned redevelopment by Bishopsgate Goodsyard and London authorities led to the closure set for summer end. Open letter urges Hackney Council to prevent a major setback in Shoreditch's regeneration efforts.

💾 Guestline, integrated with AI, launched self-service features in its GuestStay portal to ease hotel staff workload. The portal allows guests to modify reservations and order extra services. ResDiary, also part of Access Group, is now integrated for seamless restaurant bookings. Trials show corporate travellers prefer the portal for its quick amendment capability. Hotels see an increase in restaurant bookings, with some properties noting 25% of table bookings via GuestStay. Digital registration completion rates are at 31%, and hotels collect more real guest emails, encouraging direct repeat business over OTA bookings. Additional enhancements are expected later in 2024.

🏆 Folio, dubbed the "Amazon for hotels," offers a mobile-friendly procurement platform for hotel operations, streamlining inventory management. Affixify is a free-to-use hotel tech selection platform using an algorithm to match hotels with vendors. Away Together, a mobile app developed by a couple, enhances guest communication through real-time updates and offers geofenced social connections. Bon App, a POS system with a 20-minute setup, focuses on user-friendliness and cost-cutting via QR code ordering. Directful, an AI marketing platform, predicts guest booking patterns, sending direct booking texts with a 98% read rate within five minutes. Yipy provides a digital standards management platform for hotels, ensuring compliance with updates and performance tracking.

🛒 Restaurant sales forecast to top $1 trillion; hospitality industry to add 200,000 jobs, total employment reaching 15.7 million. Over two-thirds of hotels face staffing shortages. 62% of hospitality workers experience burnout from unpredictable schedules; 60% of managers report burnout leading up to peak seasons. Shift scheduling software and apps can save hours per week, reduce overtime costs, and improve scheduling forecasting. Flexible scheduling leads to a 25% decrease in turnover. Optimizing scheduling can increase revenue by up to 15%.

💵 Deliverect launches Pulse, a market intelligence platform integrating with Uber Eats, Deliveroo, and Just Eat, providing restaurants with insights to optimize marketing and increase order volumes. Leveraging actionable insights, restaurants can assess performance, benchmark against competitors, and make informed decisions for targeted campaigns. Pulse features include an estate overview across channels, competitive intelligence, and an all-in-one marketing management tool, aiming to simplify marketing across third-party apps and enhance ROI.