Hospitality Net

SEPTEMBER 26, 2023

SkyStem, a leading solution in financial month-end close solutions, is releasing a Buyer’s Guide to help accounting teams navigate the daunting process of selecting a month-end close solution. This guide makes it easy for those who are interested in evaluating and selecting a month-end close solution.

Closing 157

Closing 157

Hospitality Net

NOVEMBER 1, 2023

the leading tech-powered hospitality brand, today announced the close of a $70 million Series C fundraise. Kasa Living, Inc., Citi Ventures and FirstMark Capital led the all equity round with participation from new investors New York Life Ventures and Fireside Investments.

Closing 176

Closing Branding Hospitality 176

Hospitality Net

MARCH 4, 2024

NYSE:TNL), the world’s leading membership and leisure travel company, has successfully closed the acquisition of the vacation ownership business of global hospitality giant Accor (AC:FP). Travel + Leisure Co. The acquisition is expected to be immediately accretive to Travel + Leisure Co. earnings.

Closing 100

Closing Travel Business Hospitality 100

Hospitality Net

APRIL 21, 2023

Singapore-based Mindverse AI kicked off its Closed Beta Launch of MindOS, its debut tool for creating customized virtual characters for hospitality and e-commerce. A recording of the closed beta launch can be accessed here.

Closing 169

Closing Hospitality 169

Hospitality Net

NOVEMBER 17, 2023

KWC Management, LLC, the hospitality investment management company of Kemmons Wilson Companies, today announced its acquisition of the storied Montage Kapalua Bay, following an engagement that began in the early spring. Montage Kapalua Bay has consistently been ranked among the top resorts on Maui and throughout the state of Hawaii.

Closing 233

Closing Management Resorts Hospitality 233

Hospitality Net

JUNE 2, 2023

Although they would like to deny it, Gen Zs and Millennials do have one very important thing (for you!) in common: just like the Millennials before them, Gen Zs are highly motivated by travel and will spend as much of their disposable income on it as possible.

Closing 233

Closing Travel 233

Hospitality Net

JULY 7, 2023

HyperGuest, a leading technology platform for the hospitality industry, announced today that it has successfully closed a $23 million Series A funding round.

Closing 168

Closing Hospitality Accommodation Travel 168

Hotel Business

JULY 27, 2023

Certares , a global investment firm focused exclusively on the travel and hospitality industries, has completed the final closing of its first real estate hospitality fund, Certares Real Estate Holdings I LP, with $284 million of equity commitments. The fund has generated a net IRR of 35% and a 1.4x

Closing 52

Closing Real Estate Hospitality Pipeline 52

Hospitality Net

NOVEMBER 27, 2023

In my life, there are few if any financial moments that have created a lasting positive memory. At least that is how it has been for me. Not too many earth-shattering activities, but one on the money side stands out.

Closing 127

Closing Hospitality 127

Hospitality Net

OCTOBER 9, 2023

Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,100 hotels across more than 95 countries, today announced the upcoming opening of the upscale 178-room Dolce by Wyndham Versailles - Domaine du Montcel.

Closing 170

Closing Hotels Resorts 170

Hotel Business

FEBRUARY 29, 2024

Ashford Hospitality Trust Inc. The sale is expected to be completed in March and is subject to normal closing conditions. 31, 2023, the hotel’s net income was $2.3 million, its net operating income was $14.9 31, 2023, the hotel’s net income was $2.3 million, its net operating income was $14.9

Net Operating Income 59

Net Operating Income Sales Process Sales Closing 59

Hospitality Net

MAY 22, 2023

Disney’s $2,400-a-night Star Wars hotel, which opened to much fanfare just over a year ago, is set to close in September. The Star Wars: Galactic Starcruiser, which launched in Walt Disney World in Orlando, Florida, on 1 March 2022, was initially marketed as an immersive experience.

Closing 148

Closing Hotels Market Marketing 148

Hotel Business

MAY 9, 2024

Hoplamazian, president/CEO, Hyatt, “Our pipeline also reached a new record, expanding 10% year-over-year (YOY) to 129,000 rooms, and we realized net rooms growth of 5.5%. Net income was $522 million and adjusted net income was $75 million Diluted EPS was $4.93 and adjusted diluted EPS was $0.71 In the U.S.,

Real Estate 64

Real Estate Pipeline Sales Casinos 64

Hospitality Net

MAY 22, 2023

According to the latest Europe Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), analysts at LE report that at the close of the first quarter, the country’s hotel construction pipeline stands at 1,776 projects/266,901 rooms.

Construction 137

Construction Pipeline Closing Hotels 137

Hospitality Net

SEPTEMBER 20, 2022

SkyStem LLC, a leading provider of automated month-end close and account reconciliation software is excited to announce the release of a new ebook, Book of Secrets for the Month-End Close. It’s no secret businesses struggle to meet their goals surro.

Closing 100

Closing Business 100

Hospitality Net

JANUARY 16, 2024

Once, hotels stood as beacons of hospitality, where every guest was treated like royalty. The lobby buzzed with the energy of travelers from far and wide, greeted by a concierge who knew the city like the back of his hand. Room service was a call away, and the meticulous housekeeping was a silent ballet that kept everything pristine.

Closing 232

Closing Services Hotels Travel 232

Hospitality Net

MAY 3, 2023

In the world of hospitality sales, ChatGPT and other artificial intelligence (AI) technologies have gained attention lately for their potential to streamline processes. It’s a topic I brought to the HSMAI Sales Advisory Board to see how sales leaders are utilizing it in their business practices.

Sales 183

Sales Closing Hospitality Business 183

Hotel Management

FEBRUARY 20, 2024

Ahead of the inaugural AHICE South East Asia, which takes place in Singapore on February 27-29, JLL Hotels and Hospitality Group CEO APAC, Nihat Ercan, discusses the latest developments in hospitality across the region. Thailand’s well-established and diversified hospitality market also looks attractive.

Real Estate 245

Real Estate Average Daily Rate Occupancy Tourism 245

Hospitality Net

NOVEMBER 12, 2023

In the recently released Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), Asia Pacific’s total construction pipeline, excluding China, continued to show steady year-over-year (YOY) growth to end the third quarter of 2023 at 1,929 projects/398,199 rooms, up 3% by projects YOY.

Construction 181

Construction Pipeline Closing Hotels 181

Hospitality Net

NOVEMBER 30, 2023

International tourism is on track to recover almost 90% of pre-pandemic levels by the end of this year. According to the latest data from the World Tourism Organization (UNWTO), an estimated 975 million tourists travelled internationally between January and September 2023, an increase of 38% on the same months of 2022.

Tourism 130

Tourism Closing Travel 130

Hotel Business

APRIL 29, 2024

Ashford Hospitality Trust Inc. has closed on the sale of the 85-room Hampton Inn Lawrenceville in Lawrenceville, GA, for $8.1 The sale price represented a 6% capitalization rate on trailing 12-month net operating income through March. million ($95,300 per key).

Net Operating Income 69

Net Operating Income Sales Process Sales Closing 69

Hospitality Net

MARCH 15, 2024

Travelodge OpCo Group, the UK’s first budget hotel brand which operates nearly 600 hotels, today announces the completion of the property acquisition as anticipated in the announcement of the agreement on 8 January 2024.

Branding 149

Branding Closing Operations Hotels 149

Hospitality Net

JANUARY 29, 2024

According to the year-end Lodging Econometrics (LE) Construction Pipeline Trend Report for Canada, the country ended 2023 at 294 projects/38,396 rooms, a mere 11 projects short of the country’s peak of 305 projects achieved in Q4 2019. Canada’s pipeline is up 10% by projects and 7% by rooms, year-over-year (YOY).

Pipeline 128

Pipeline Construction Closing Hotels 128

Hospitality Net

MARCH 18, 2024

Peachtree Group (“Peachtree”), a diversified commercial real estate investment firm, announced it has closed approximately $660 million in credit investments since Dec. 1, 2023, with an additional $350 million anticipated closing over the next 30 to 45 days.

Real Estate 250

Real Estate Closing Market Marketing 250

Hospitality Net

APRIL 10, 2023

As frequent readers of my monthly training articles know, I have been a huge advocate of using a “tech for touch” approach for many years. In training articles, webcasts, and in my on-site hotel sales training workshops, I have provided suggestions for using video email apps to put the “people parts” back into hotel sales.

Closing 213

Closing Hotel Sales Sales Hospitality 213

Hospitality Net

JANUARY 23, 2024

According to the 2023 year-end U.S. Construction Pipeline Trend Report from Lodging Econometrics (LE), the pipeline stands at 5,964 projects/693,963 rooms. The pipeline hit record project counts at Q4, with the addition of 260 projects and 21,287 rooms over last quarter, and a 9% increase by projects and a 7% increase by rooms year-over-year (YOY).

Pipeline 100

Pipeline Construction Closing Hotels 100

Hotel Business

MARCH 13, 2023

The Sustainable Hospitality Alliance (SHA) , which brings together the industry to create a prosperous and responsible global hospitality sector that gives back to the destination more than it takes out, has released the Pathway to Net Positive Hospitality v2.0. An outline of the material topics for the industry.

Hospitality 52

Hospitality Tourism Resorts KPI 52

Hospitality Net

APRIL 24, 2024

With close to 50 hotels in the pipeline, IHG® Hotels & Resorts, one of the world’s leading hotel companies, will double its operating portfolio in India in next 5 years. Close to 70% of the signings were in midscale and upper midscale segments, which continues to be a growth driver for the company in India, followed by premium and luxury.

Operations 144

Operations Resorts Closing Pipeline 144

Hospitality Net

NOVEMBER 22, 2023

According to the Q3 2023 Middle East Construction Pipeline Trend Report from Lodging Econometrics (LE), at the end of the third quarter, the hotel construction pipeline in the region stands at 585 projects/139,582 rooms. Project counts in the region are up 9%, while room counts show a 3% increase year-over-year (YOY).

Construction 128

Construction Pipeline Scale Closing 128

Hospitality Net

MAY 14, 2024

According to LE analysts, the region’s total pipeline stands at 1,705 projects/253,777 rooms at the close of the first quarter. Lodging Econometrics (LE) has released its Q1 2024 Hotel Construction Pipeline Trend Report for Europe.

Pipeline 146

Pipeline Construction Closing Hotels 146

Hospitality Net

MARCH 29, 2024

The luxury desert lodge will be closed for the remainder of 2024 for a thorough upgrading of the property’s interiors, spearheaded by the original design team of architects Rodrigo Searle and Matías González, featuring refreshments to furniture and the addition of suite room types.

Closing 229

Closing 229

Hospitality Net

FEBRUARY 14, 2024

The terms of the agreement were not disclosed and are subject to the satisfaction of certain standard closing conditions. Upon closing, Marcus Hotels & Resorts will assume management of the hotel, which will be rebranded under another major global hotel system.

Real Estate 181

Real Estate Resorts Closing Hotels 181

eZee Absolute

JUNE 5, 2023

Introduction In an industry as competitive and dynamic as hospitality, understanding the factors that drive profitability is crucial for the success of any hotel business. Profit and loss analysis allows hotels to closely monitor their expenses and identify areas where costs can be reduced or eliminated. Well, yes and no.

Net Operating Income 96

Net Operating Income Hotels Revenue Operations 96

Hospitality Net

MARCH 25, 2024

At one time, sales reps were able to close deals by simply walking their prospects through the many features and benefits of their product.

Market 195

Market Marketing Closing Sales 195

Hospitality Net

MAY 7, 2024

At the close of Q1 2024, the total hotel construction pipeline in Latin America stands at 604 projects and 100,990 rooms, marking an 11% increase in projects and a 12% increase in rooms year-over-year (YOY).

Construction 163

Construction Pipeline Closing Hotels 163

Hospitality Net

APRIL 19, 2024

Located close to Guilong Park in Shuangliu District, the 145-room hotel is set to bring an inviting and seamless stay experience for travelers in the new area of Chengdu, the capital city of Sichuan province.

Closing 183

Closing Branding Hotels Travel 183

Hospitality Net

JANUARY 3, 2024

Grand Mercure Yichang Waitan has an enviable location overlooking the Yangtze River, with close proximity to the Yichang’s Three Gorges Dam tourist area. Yichang is keeping up with the modern economy by building a modern logistics center, while focusing on the growth of its service sector and high value-added industries.

Closing 218

Closing Services 218