Le Portee - Weekly Hospitality News

Content of this week’s podcast:This episode of Le Portee podcast, hosted by Jeremy and Michael (Mish), delves into various topics relevant to the hospitality industry and beyond. Here's a summary of the main points discussed:* Introduction: Jeremy and Michael introduce the podcast, emphasizing their focus on global events, academic insights, and software developments relevant to the hospitality industry.* Airbnb Experience: Jeremy shares his recent, somewhat disappointing experience with Airbnb, highlighting issues like impersonal service, automated check-ins, and inflexible host policies. This discussion reflects broader concerns about the evolving nature of hospitality services like Airbnb.* Sleep Tourism: Michael introduces the concept of sleep tourism, where hotels offer packages designed to enhance guests' sleep quality. This new trend caters to the growing demand for better sleep experiences, with hotels around the world adopting innovative approaches to attract guests seeking restful escapes.* Taylor Swift's Exclusive Singapore Concert: The hosts discuss the controversy surrounding Taylor Swift's decision to perform exclusively in Singapore, skipping other Southeast Asian cities. They explore the implications of such exclusivity deals on fan access to culture and entertainment, questioning the fairness and potential trend of privatizing cultural events.* Hilton's Expansion: Hilton's strategic acquisitions and growth plans are highlighted, including the purchase of the Graduate hotel brand and ambitious expansion in India. These moves are part of Hilton's broader strategy to diversify its portfolio and capitalize on emerging markets.* Starlink and Cruise Ships: Jeremy discusses the introduction of Starlink internet service on cruise ships, addressing a long-standing complaint about slow internet at sea. This development promises to significantly improve connectivity for both guests and crew, enhancing the overall cruise experience.* Academic Insights on Grand Hotels: The hosts critique an academic paper that investigates why people choose to stay in grand hotels. They question the methodology and findings of the paper, suggesting that guest perspectives might differ from those of hotel employees. Get full access to Le Portee - Hospitality News at www.leportee.com/subscribe

* Introduction of Yvonne Heß: Mirjam introduces Yvonne as a highly accomplished finance professional, highlighting her transition from banking to leasing and her role at NUMA.* Yvonne's Career Path: Yvonne shares her accidental entry into banking, her fascination with the financial industry beyond basic banking operations, and her decade-long experience at UniCredit Group and a savings bank in Germany. She then discusses her move to leasing and her eventual role at NUMA.* Women in Finance: Yvonne touches on the surprise and shock many express upon learning about the scarcity of women in the finance sector. She emphasizes the importance of managing expectations and the unique selling proposition (USP) in finance.* Navigating Gender Dynamics: Yvonne discusses the necessity of balancing feminine and masculine traits in the finance industry, sharing personal strategies for success and the challenges faced by women in male-dominated meetings.* The Importance of Storytelling: The conversation shifts to the critical role of storytelling in finance, with Yvonne explaining how it aids in translating complex financial concepts for clients and stakeholders.* Client Relationships and Financing: Yvonne and the hosts discuss the nuances of building relationships with investors, the importance of understanding and communicating business models, and the specifics of obtaining loans and financing.* Banker and Client Dynamics: The dialogue covers the dynamics between bankers and clients, emphasizing the importance of clear communication, understanding the banker's perspective, and the role of storytelling in securing financing.* Market Trends and Banking Industry Insights: Yvonne provides her perspective on the current state of the banking industry, the impact of market trends on financing, and the future of real estate financing.* Advice for Young Professionals: Yvonne offers advice to young career starters, especially women, encouraging them to believe in themselves and persevere through challenges.* Recommended Reading: Yvonne recommends "The Big Five for Life" as a must-read book, explaining how it influenced her personal and professional decisions. She also mentions the importance of staying ahead of the news, suggesting that by the time news is printed, it's already old. Get full access to Le Portee - Hospitality News at www.leportee.com/subscribe

Content:* Discussion on a Manila luxury resort's innovative attraction to compete with Macau's gambling industry.* Analysis of Accor's financial results, comparing current performance with past data.* Report on strikes affecting Paris landmarks, including the Eiffel Tower, in light of upcoming Olympics.* Overview of customer loyalty in the hospitality industry, highlighting a low return rate compared to other sectors.* Exploration of co-branding in the cruise industry, featuring a partnership between Regent Seven Seas and Aston Martin's Formula One team.* Examination of the growth and ratings of short-term rentals versus hotels in various cities.* Guest Satisfaction Ratings Decline Across All Accommodation Types* The Unique Appeal of Airbnb and Short-term Rentals Diminished:The full newsletter with sources is available on leportee.com Otherwise our podcast is available where ever you get your podcasts!You can find out more about our current guest over here.To support us, you can donate over at paypal.me/LePortee Get full access to Le Portee - Hospitality News at www.leportee.com/subscribe

Content:1:18 - Career Longevity at CitizenM: Edouard attributes his long tenure at CitizenM to the company's support for his growth and opportunities for advancement.3:33 - Introduction of Edouard and his Role: Edouard has overseen about 10 CitizenM hotel openings in the last year and is now focusing on a major project in Boston.10:56 - Innovation in Hotel Openings: Edouard helped innovate the hotel opening process, focusing on efficiency and overcoming challenges like COVID-19 impacts and modular construction advantages.14:14 - Shift to Construction and Development Focus: After years of focusing on hotel openings, Edouard is now learning about construction, aiming to reduce development timelines and costs.18:56 - Adoption of Lean Six Sigma for Efficiency: CitizenM is exploring Lean Six Sigma to improve construction efficiency and address challenges in convincing partners to adopt new methods.26:23 - CitizenM's Ownership and Operation Model: While primarily owning its properties, CitizenM also explores leases and management agreements to expand its presence.31:21 - Edouard's Reflections on Pre-Opening Challenges: Sharing stories of adaptive problem-solving during hotel openings, Edouard highlights the importance of flexibility and creativity in his role.41:44 - CitizenM's Staffing and Guest Experience Philosophy: Edouard discusses the balancing act of staffing levels to enhance guest experiences, emphasizing the value of personal interactions over automation.49:44 - Adapting to Technology and Innovation: CitizenM's rapid adoption of new technologies, like changing PMS systems across all hotels within weeks, showcases its commitment to innovation and efficiency.You can find out more about our current guest over here.To support us, you can donate over at paypal.me/LePortee Get full access to Le Portee - Hospitality News at www.leportee.com/subscribe

TLDL: Too Long Didn’t ListenIn follow-ups, the European Travel Commission highlights safety and affordability as key factors for international travelers in 2024 🌍✈️💰, while Paris prepares for the Summer Olympics with high hotel bookings but significant room vacancies 🇫🇷🏨🥇.In industry news, Europe leads in hotel sustainability reporting 🌱🏨, Soho House considers privatization amid financial scrutiny 💼💰, and staffing shortages persist in the hospitality sector 👥🏨. China sees a shift towards adventure-based travel 🇨🇳🌄, and Naples (US) attracts a younger demographic through sports-focused initiatives 🇮🇹🏟️.Meanwhile, outside factors impact the industry, with U.S. states like Tennessee emerging as economic powerhouses 🇺🇸💼, and sub-Saharan Africa grappling with a housing crisis 🌍🏘️.Academically, a study explores millennial preferences for job retention factors 📚💼, and in tips, Tin Inn-Hotels gain popularity for their sustainable container-based design 🌿🏨, and the travel industry shares lessons from early adoption of generative AI technology 🤖📊.To support us, subscribe over at leportee.com or donate over at paypal.me/LePortee Get full access to Le Portee - Hospitality News at www.leportee.com/subscribe

Podcast text The full newsletter with sources is available over at leportee.com. This Podcast can also be found over at: Spotify → Pocketcasts → https://pca.st/m08x5zfp Apple Podcasts → To support us, you can donate over at paypal.me/LePortee Get full access to Le Portee - Hospitality News at www.leportee.com/subscribe

The full newsletter with sources is available here. This Podcast can be found over at: Spotify → HerePocketcasts → https://pca.st/m08x5zfp Apple Podcasts → HereYoutube → To support us, you can donate over at paypal.me/LePortee Get full access to Le Portee - Hospitality News at www.leportee.com/subscribe

TLDR: Too Long Didn’t ReadIn the follow-up section, there's a report on the travel habits of Gen Z and Millennials, highlighting their preference for Instagram as the top social media platform 📸🌍, their focus on adventure and outdoor activities 🏞️🌄, and their willingness to spend more on travel 💰✈️. In the main hospitality news, the US ranks 17th in attractiveness among global destinations due to safety, government leadership, and visa rule issues 🇺🇸🌐. Hilton and IHG are expanding in China 🏨🇨🇳, while political decisions in Maldives are causing a loss of Indian tourists 🏝️🇲🇻🇮🇳. The rise of the middle-class travel market is noted, with many hotel brands targeting this segment 🌐💼. In externalities, Taiwan's election results could have implications for geopolitical conflicts 🗳️🇹🇼🌏. In academia, a study from Ghana emphasizes the correlation between HR practices and hotel revenue 📚🏨💰.Finally, a digital hotel operations report by h2c provides insights into industry trends like digital check-in and CRM adoption 📊🏨💻.0. News snippetsNot important enough to expand on, but worth hearing aboutIf you are a fan of the White Lotus show, it was recently announced that season 3 will be filmed in Thailand | DEHOGA, a major German Hospitality Sector association asked its members about the increase of taxes on the F&B. Results. Operators are not happy!0.5 Follow upWhere we follow up on news from previous weeksNew Gen Z and Millenial trendsAnother report on Gen Z and Millennials’ behaviour is out. Where they book, what they book and why they book. Results are slightly different to those from last year and can be seen here. Number 1 Social Media platform is Instagram (1 fifth of the total market share). The number 1 reason to travel is “Adventure and Outdoor Activities”. Around 60% of people book hotels and the rest is distributed amongst vacation rentals and other forms of accommodation. Finally, both Gen Z and Millennials are expected to spend more, 59% of Gen Z and 65% of Millennials. Must be all that money they are currently earning.Choice and Wyndham Part 3Remember Choice trying to acquire Wyndham? Well, now it's an information war. Wyndham has released a report claiming Choice acquiring them would go against anti-trust laws (creating a quasi-monopoly) and Choice is now releasing a presentation disputing that. 4 Points they don’t agree with are: There are 9 other competitors in the market, therefore it ain’t a monopoly, the acquisition would decrease costs for franchises, guests would get a bigger offer as part of their loyalty programs, Choice expects the commence the process on the 11th of January. The employees of Wyndham are probably convinced too and hyped about the upcoming hostile acquisition.1. Main Hospitality NewsCore news related to the industryThe US scores 17th in attractiveness among top destinations worldwide.The US is 17 out of 18 top destinations worldwide for global travellers. According to a recent report by Euromonitor International. Reasons for it falling behind are a low safety index, Government leadership and strict customs and visa rules. At least those are the indicators by which the US has scored low and are used to build up the total score. Despite all the above, the land of the free still is number 3 in the world share of inbound visitors even though that has decreased by 0.1%. France was number 1 and Spain number 2. See the full list and how other markets performed over here.Hilton and IHG are capturing the Chinese market.Hilton has opened its 600th hundred hotel in China with its entire brand portfolio, while IHG is on their 700th. IHG on the other hand has 12 of their 19 brands in there. Both are trying to open up in several regions. Hilton has even been named “Best Workplace in Greater China” 4 years in a row. Different sub-brands are testing different models. From Management and franchise to Master Leases. Different brands, different strategies. These numbers, however, do not come even close to Chinese brands like Jin Jiang which has over 10 thousand hotels open. All top 10 hotel chains in China are indeed Chinese. Indeed almost everywhere you look in the greater Asian continent, Western chains are growing comparatively slow compared to the local players. Nonetheless, Accor for example was petting itself on the back with 62 signings across Singapore, the Philippines and India or a total of 14.8 thousand keys in one year. Given that India has a total of 105 thousand rooms operated by major hotel chains (old data from 2017), this is a pretty significant growth. Indication of the huge potential India has for various hotel chains, while China (even though a bigger economy as of now) is mostly operated by local players.Maldives losing 10% of travellers due to politicsOn the topic of India, Maldives was hooked on Indian tourists, making it 10% of the total market share. A pretty significant dependence, when 30% of your GDP comes from tourism. That has likely been lost now due to a political move from its current president Mohamed Muizzu, where the campaign was “India Out”, betting on the Chinese market. This turned out to be a wrong bet since the Chinese travel market has yet to pick up from COVID-19. Finally, Prime Minister Modi made a series of posts in Lakshadweep, a destination similar to Maldives, which has caused an instant drain of bookings from Maldives to the Indian alternative. Several Indian OTAs are now even suspending their Maldives segments and removing any related content. Next time when you make a political move, consider that a major share of your GDP is tourism, hence making enemies on the global market is perhaps not the best for your economy.Middle-class guests are the future?At least most major hotel brands seem to think so. Middle-class demand is likely to increase by another 700 million participants. Mostly sourced from China, India and other regions. With it, hotel chains are investing in appropriate brands to host that demand. Express Four Points by Sheraton, Garner by IHG, Hyatt Studios and more. Hence, the expectation is that most properties developed in the upcoming decades will be mid-scale properties, despite their lower profit margins (at least previously, since digital-only concepts seem to improve that). But are these new market participants interested in the big brands or can new players take over the lead here?2. ExternalitiesEconimics, finance, geopolitics. All have an impact on the hospitality sector.Taiwan votes against Mainland ChinaThese 3 hot geopolitical topics can be described as current or potential conflicts: Israel, Ukraine and guess who? Taiwan. The 2 that are already taking place are impacting the world economy whether you want it or not. Taiwan, being the majority producer of electrical chips is on that list as well. This week the party that is a non-Chinese “separatist” has won (DPP) the Taiwan elections. Why are they not pro-Mainland China? Mainly because China denounced their political Leader Lai Ching-te. And so the show continues. With China pressuring Taiwan into submission and Taiwan playing a sort of diplomatic game. Let’s hope there won’t be 3rd hot conflict this year.Gaza Status Quo“The Economist” has recently released an article breaking down the status quo of Gaza in connection with the availability of food, medicine and other supplies. A neutral take on the situation, that is otherwise hard to judge. Read about it here.3. AcademiaScientific papers related to the topics above. For those who want to know for sure ;)HR practices have a direct correlation with hotel revenueA recent paper all the way from Ghana has looked at how Human Resource practices impact the bottom line, specifically what measures are most effective. From the obvious results like competitive hiring, training initiatives and technology integration, the study goes into the previously said topic and lists other strategic HR practices and their impact on revenue. Most importantly, a direct correlation between these and a revenue increase is shown, hence maybe do not ignore your HR next time and give it a bit of professional love!5. Tips & Tricks Tools & SaaSAny new software you can use? Industry tricks you missed?Digital Hotel Operations Reporth2c has surveyed various hotel operators and created a digital hotel operations study for 2023. This report serves well when trying to compare yourself with the industry. For starters, only 34% of chains offer digital check-in and not many more are planning to offer an increase in the offering. The main concern is an increase of the total digital cost system by 14%, the concern is especially elevated due to inflation as a whole. Internal CRM and recording online direct booking have been growing and are currently offered by 54% of participants, while 76% were going to offer it. Meaning if you don’t have CRM yet, you are below average at this point. Get full access to Le Portee - Hospitality News at www.leportee.com/subscribe

The full newsletter with sources is available here.This Podcast can be found over at:Spotify → HerePocketcasts → HereApple Podcasts → HereTo support us, you can donate over at paypal.me/LePortee Get full access to Le Portee - Hospitality News at www.leportee.com/subscribe

Podcast text The full newsletter with sources is available here. This podcast can be found over at: Spotify → HerePocketcasts → https://pca.st/m08x5zfp Apple Podcasts → HereTo support us, you can donate over at paypal.me/LePortee Get full access to Le Portee - Hospitality News at www.leportee.com/subscribe

The full newsletter with sources is available here.You can find out more about our current guest over here.This Podcast can be found over at:Spotify → HerePocketcasts → https://pca.st/m08x5zfpApple Podcasts → HereTo support us, you can donate over at paypal.me/LePortee Get full access to Le Portee - Hospitality News at www.leportee.com/subscribe

The full newsletter with sources is available by clicking here.You can find out more about our current guests over by clicking here.This podcast can also be found over at:Spotify → https://open.spotify.com/show/3al1PMnfywqyDP7kY0JHB9 Pocketcasts → https://pca.st/m08x5zfpApple Podcasts → https://podcasts.apple.com/us/podcast/le-portee/id1681498396To support us, you can donate over at paypal.me/LePortee Get full access to Le Portee - Hospitality News at www.leportee.com/subscribe

TLDR: Too Long Didn’t ReadThis week in the hospitality industry. UNWTO's recognition of the best tourism villages based on sustainability, the growing influence of food in travelers' decisions, Viking Cruises' success in multiple categories on Condé Nast Traveler Readers' Choice Awards, strategies to reduce pollution in ports, a medical partnership in French Polynesia to provide healthcare to remote islands, and Japan's efforts to combat over-tourism. In the realm of external factors, Israel's military plans in Gaza and Ukraine's concerns about waning support. The academia section hints at scientific papers related to the discussed topics, and there's a recommendation for a hospitality podcast and tips for innovation in the industry. With guest speaker Galy Jérémy, check out his consulting agency!0. News snippetsNot important enough to expand on, but worth hearing aboutGoogle is driving more traffic towards smaller companies to be found | Hotel chain Upstalsboom is now offering its own travel agency, where you can book its hotels and connected experiences (Interesting diversified for chains?) offered via major GDS platforms | Remarkable Spa for 130 million opened up in Germany | Musk is introducing different subscriptions models for X users to be able to interact on the platform1. Main Hospitality NewsCore news related to the industryBest tourism village of the year (according to UNWTO)UNWTO has released their winners for the best tourism villages of the year. Yes, there is a UNWTO village contest. You might ask Le Portee, but how do they rate these villages? Is it by their popularity amongst tourists or is it perhaps their value/price comparison? None of it is for tourists from the 20th century and UNWTO is modern. They rate their villages by sustainability. So if you dig coal in your village, sorry you are not on the list. It is not a ranked village list, it's just a list of villages that made it (at the moment there are a total of 190 members), hence you won’t find the top 10. Want to visit any of them? Here is the list. A variety of countries have some, hence you might live close to one! We can proudly say the Le Portee team has been at least 3.Food driving travel decisionsPeople are making their travel decisions based on cuisine with increasing speed. The article mentions booking exclaiming that it is a growing decision driver, and apparently 34% of booking amongst all travellers now prioritise restaurants and dining. Unfortunately, the article does not list sources, we however trust them. Don’t we? The generations who are most touched by this are millennials and baby boomers. Italy and France of course are leading.Viking Cruises scores big on Condé Nast Traveler Readers' Choice AwardsIn a historic first, a single cruise line, Viking, has claimed the top position in three distinct categories: Best Ocean Line, Best River Line, and Best Expedition Line. Viking, known for its prominence in river and ocean cruises, entered the expedition market with the Viking Octantis, a 205-meter mid-size vessel offering comfort and style to 378 guests across 189 staterooms. Despite fierce competition, Viking made significant inroads into the competitive Arctic-Antarctic market traditionally dominated by small 5-star vessels with superior expedition equipment and hulls. Their successful expansion into these polar regions is evident, with many 2024 cruises already fully booked. The response of competitors like Ponant, Silversea, and Seabourn to this formidable new rival will be a topic of keen interest.A solution to fight pollution in portTo enhance port sustainability and safeguard the well-being of residents, numerous cities are exploring strategies to curtail the release of noxious gases from docked ships. A prevalent approach involves fitting berths with high-capacity electrical plugs, enabling vessels to connect and draw power from the port grid while at rest. Reykjavik, Iceland, has successfully deployed this technology, permitting mid-size ships to minimize fuel usage and reduce their environmental impact during port activities. This eco-friendly approach yields a dual benefit: ships lower fuel consumption, save on costs, while cities mitigate air pollution, and ports generate supplementary revenue by selling power to berthed vessels. Nonetheless, this green solution faces two constraints: the significant expense and time required to equip berths with such infrastructure, a feat not feasible for every global port, and compatibility constraints, as only modern vessels possess the requisite equipment to connect to shore-based power supplies. Widespread adoption of this technology is likely to be a gradual process, but it represents an encouraging step towards environmental responsibility in the maritime industry.A medical partnership between French Polynesia and the ship Paul GauginPaul Gauguin Cruises and the government of French Polynesia have joined forces to provide accessible medical services to the inhabitants of the most remote islands in the region. This partnership consists of two components: voluntary consultations offered by the ship's doctor during the scheduled stops of the Paul Gauguin, and the free transportation of healthcare professionals appointed by the government's Health Department to provide specialized anticipatory consultations (CSA). The program will include 40 consultation sessions annually and will initially be extended to the Marquesas and then to the Tuamotu regions, which are among the furthest regions of French Polynesia. Patients will also have access to certain medical equipment on board, such as X-rays and ultrasounds.Japan is tired of tourists (too)Another week and yet another destination is now starting to fight overtourism. This time Japan. Due to a sharp increase in visitors (2 million monthly visitors), we suppose that is the maximum Japan is comfortable with (France has 90 million annually). Their solution is to increase travel infrastructure, grow the bus prices, promote less known locations & finally the golden solution of taxing. A basic recipe for any destination.2. ExternalitiesEconimics, finance, geopolitics. All have an impact on the hospitality sector.Israel is readyIsrael is about to go into Gaza. According to the defence minister of Israel, a 3 step plan is to first, destroy the terrorists, second, any remaining nests of Hamas destroyed too, and third military move out and focus on its own defence. Optimistic, if indeed the case that it is about to happen, the next few weeks will show if this is going to turn into a full-fledged regional war or indeed a “quick operation”. The consequences, depending on the outcome will influence the world heavily.Did somebody forget Ukraine?In another set of news, Ukraine is now concerned with weakening support against Russia, partially due to Israel taking up most of the media attention and partially due to the West experiencing “fatigue” over Ukraine’s limited success. Like a distracted teenager on TikTok, the Western public is jumping from one piece of news to another, losing interest in anything that is mildly repetitive. Or at least so reports the article. Upcoming months (hopefully not years), will show.3. AcademiaScientific papers related to the topics above. For those who want to know for sure ;)Why would people want to travel to any given destination at all? One reason would be Culture shipping to other countries. A study looking into Korean TV Dramas tries to track the impact of these dramas on how the Japanese see Korea in general and how they would more likely want to travel to Japan because of being fans of these dramas. Hence, maybe the best way for destinations to advertise themselves is to make TV deals with other countries.4. ReadablesBooks, podcasts & the big stuff.Hospitality podcastAnother podcast from the travel industry, interviewing some big players called “Next Gen in Lodging”. It’s corporate, unlike our homemade artisanal Le Portee one, but still pretty good. We recommend you start with the episode about hotelier experiences in hiring the pandemic generation for the first time.5. Tips & Tricks Tools & SaaSAny new software you can use? Industry tricks you missed?How do I innovate?Some of the finest Tips and tricks are coming to you this week. Do you want to innovate with your hospitality business but lack the know-how? Fear not, here is an article giving you five tips to follow. Get business intelligence and forecast, personalize your experience, use tech to automate, make experiences contactless, and use integrated solutions. Simple, we would say. Innovation at its finest, especially when nobody has done the above before! Get full access to Le Portee - Hospitality News at www.leportee.com/subscribe

TLDR: Too Long Didn’t ReadIn follow-up news, there are concerns that bedbugs, previously in France, might have migrated to the UK, potentially impacting the hospitality industry. Expo Real Munich 2023 addressed industry challenges such as interest rates, construction projects, and inflation, emphasizing collaboration to overcome difficulties. In sustainability news, certification is recommended to meet guest preferences, with data showing a willingness to pay extra for sustainable accommodation. Motel One experienced a cyberattack resulting in a data breach, raising concerns about cybersecurity in the hotel industry. The Q2 Guest Experience Benchmark report highlighted improvements in hotel reviews and responses. AMEX's 2024 forecasts suggest positive growth for top tourist destinations. India is embracing experiential hospitality offerings. In external news, conflict in the Middle East, including the Hamas-Israel situation, could have global economic implications. Nobel Prize winners were announced, including Nobel Laureate Claudia Goldin, recognized for her work on gender differences in the labour market. For those interested, her book "Career & Family" is recommended. Lastly, there are tips on preventing data hacks in the hospitality sector.0. News snippetsNot important enough to expand on, but worth hearing aboutMichelin Guide is going to offer hotel ratings too now. Since their acquisition of Tablet hotels, it is going to be marched together with the core brand; China’s peak season 8 Day Golden Week only shows 85% of travel volume compared to 2019; The rail industry gives out awards for best picture/promoters of their industry, this year the “Grand Tour of Switzerland” won;0.5 Follow upWhere we follow up on news from previous weeksBedbugs - in the UK, likely…Remember the story of bed bugs spreading across France? Well, they might have migrated to the UK already. While the article is more of a clickbait FAQ for those amongst us who fear bedbugs most, it is still a slowly unfolding bedbug infestation that can be yet another topic that makes hospitality professionals’ lives more difficult.Expo Real Munich 2023EXPO REAL 2023 featured 1,856 exhibitors from 36 countries and attracted over 40,000 participants.The event served as a platform to address challenges such as increasing interest rates, stagnating construction projects, and inflation, fostering discussions on topics like ESG, digitalization, urban development, housing construction, and (re)financing.Despite the industry's challenges, there was cautious optimism as participants emphasized the importance of exchange, networking, and finding solutions together to overcome current difficulties. More here.1. Main Hospitality NewsCore news related to the industrySustainability matters, get certification?While we try to avoid sponsored articles, that inherently are biased and hence might not be the best representation of what happened this week, this article still made it. Sustainability matters, say the authors, yet there is no, one, well-recognized way to certify your business for the guests to know. Why you ask, should I get a certificate when I can just implement sustainable practices and advertise them if needed to the guest? Well, the authors say that over 65% would feel better booking sustainable accommodation. Funny that if you go to the source they mention (the initial data comes from the booking sustainability report) which mentions only 36% willing to pay extra for it (in the sponsored version it mentions 45%). Nevertheless, this is data only regarding the UK. Hence, if you buy a sponsored article, at least make sure the data you quote is represented correctly. Nonetheless, for you keen business owners, people do care and getting recognized as “sustainable” upfront, would come as handy and can serve as yet another USP for your guests."ALPHV” Hackers’ Cyberattack on Motel OneMotel One, a hotel chain, experienced a cyberattack resulting in a data breach, exposing millions of customer names, travel data, and credit card information.The breach revealed six terabytes of customer records on the black market, dating back to 2016, including private details, internal business data, and employee phone numbers.Despite acknowledging the attack, Motel One described the hackers as "extremely professional" and has not issued an apology to affected customers. The incident has raised concerns about cybersecurity in the hotel industry. More Info in German here.Q2 Guest Experience BenchmarkOver 3 million reviews and 9 million review comments from 9,500 hotels around the world were analyzed.* Global Review Index rose by 1.0 points to 85.5%, with notable improvements in 4 and 5-star hotels (+1.2 points) and 3-star hotels (+0.8 points).* Review volume increased by nearly 20% in Q1 but remained 8% below pre-pandemic levels from Q2 2019, with Asia Pacific experiencing the highest growth rate at 70.6%.* Booking.com lost 8.7% in market share, while Google gained 5.0 points, with Booking.com generating 39.2% of total reviews.* Hoteliers responded to 61.6% of reviews, with positive reviews receiving a 63.5% response rate (average response time of 3.6 days) and negative reviews receiving a 53.7% response rate (average response time of 4.3 days).Complete report here.AMEX forecasts 2024AMEX does hospitality forecasts too! Are you from one of the top tourist destinations in the world and are concerned about how your market is going to grow or decrease in 2024? No problem, AMEX has you covered. Spoiler alert, all cities are going to increase and not just increase but overtake inflation & GDP growth of those corresponding countries too (according to AMEX). How? Easy, small-paragraph explanations can be seen when looking through the report. Barcelona is expected to grow by 9%. Amsterdam 10.8% (something the locals surely will love, especially with closing flight routes). Overall, some cities are expected to grow more than others, but all are set to grow at least 4%, hence optimistic is how this data nugget can be described.India goes into experiencesOne often talks about how countries mature from wanting to buy things to wanting experiences. We have mentioned an extensive amount of news about this in the last few months and this time it's India’s turn. A recent article from HVS outlines a new generation of hospitality experiences that India is offering more and more right in time for economic development. Some of the places mentioned are glamping stays & even a military-style resort. While the Indian economy service sector is already exceeding 60% of the total GDP (similar to first-world countries), almost 49% of it is Software. Travel is around 4%. 2. ExternalitiesEconimics, finance, geopolitics. All have an impact on the hospitality sector.Hamas, Israel & WarHamas has attacked Israel & Israel is now striking back. A piece of news that unfortunately adds to the series of wars, coups and COVID pile. Now obviously the tourism sector is effectively shut down, but you might say who cares? Well, no matter your stance on this issue or lack thereof, this is likely going to impact the entire Middle East and with it, the rest of the world. Stock prices have dropped and oil prices surged (even more). The US has moved warships closer to Israel (like it's a tabletop-based game, Risk). Finally, the Abraham peace accords we mentioned in our previous editions, were bringing Saudi Arabia, UAE, Israel & others closer and generating millions if not billions of extra GDP dollars for everyone involved might be at risk. On top of that, the war in Ukraine is still happening and can likely cause another oil & wheat shortage due to the Black Sea turning into a battlefield.The Oscars Nobel prize winners are announcedThe full list can be seen here. Pretty exciting! Medicine goes this year to Katalin Karikó and Drew Weissman for technology that enabled the development of the COVID mRNA-based vaccines. Physics is awarded for the “Experiments with light capture the shortest of moments” & in Chemistry for “quantum dots”. If you want to know what that is we wish you good luck. Literature went to Jon Fosse, amongst his works there is “Septology” if you want to check it out. Finally, economics went to Claudia Goldin for being the first to uncover the key drivers of gender differences in the labour market. If you are interested in her work, we provide her academic sources in the section below.3. AcademiaScientific papers related to the topics above. For those who want to know for sure ;)Gender Pay GapThe gender pay gap and different genders in the labour market. How did that develop and why is it the way it is now? Claudia Goldin, the Nobel Laureate we mentioned above is the very economist who proved certain reasons as route causes we now all think as obvious. Her recent book “Career & Family” is a good way to discover that.4. ReadablesBooks, podcasts & the big stuff.All the Nobel Prize booksIn the spirit of this week’s news, we thought it would come in handy to just recommend all the books that won the Nobel Prize by popularity over at GoodReads. Check out the full list here. So if you have a bit of free time coming up, just start from the top.5. Tips & Tricks Tools & SaaSAny new software you can use? Industry tricks you missed?How to prevent your data from being hackedHow to prevent and deal with hacks in the hospitality sector. Here is an interview with the CEO of comforte AG to enlighten us (disclaimer it's in German). Within the context of Motel One having been hacked recently and guest data available online, this topic is unfortunately still present, and likely always be. Since Comforte seems so confident, perhaps the hackers can see that as another “fun” challenge. Get full access to Le Portee - Hospitality News at www.leportee.com/subscribe

TLDR: Too Long Didn’t ReadThis week highlights significant developments in the hospitality industry, including Hilton's adoption of AI for personalized experiences, Numa Group's $59 million funding for European expansion, and New York City's strict restrictions on Airbnb. Sleap.io introduces the first blockchain-powered hotel booking platform with cryptocurrency acceptance and NFTs. HVS presents a comprehensive report on US hospitality taxation, revealing average tax rates and top-contributing states. In externalities, the possibility of a US government shutdown and market concerns arise due to record-high bond yields. Academic research scrutinizes Airbnb's impact on Barcelona in 2016. Lastly, a recommended book, "The Book of Satoshi," explores blockchain and bitcoin. Plus, the article provides insights into seven key marketing channels for hotels, covering websites, email marketing, texting, online reviews, paid advertising, social media, and OTAs.0. News snippetsNot important enough to expand on, but worth hearing aboutGermany is number one in Refugee intake, 2023 current forecast lies at 1 million asylum applicants; STR ADR & occupancy performance with Italy & Greece recovering entirely from 2023 & China still underperforming; Whiskey can be a solid replacement for investing into stocks, with 300% ROI, a minimum 10 year investement period & even an entire whiskey index one can combine the love for whiskey and money making into one.1. Main Hospitality NewsCore news related to the industryHilton implements AIHilton is jumping on the AI train wagon and implementing a digital concierge with which you can likely book personalized experiences. The company isn’t promising the world with this new feature, since the plan is to expand it within the next 10-20 years, nonetheless, the potential is pretty big. As per CEO’s statements, the AI model will be able to access guest data available from all sorts of sources & customize communication for this specific guest. The main feature the CEO praised is the ability to react in moments to any complaints & therefore prevent delay-driven additional costs (like sorry treatments).Numa raises 59M Dollars in series C roundNuma Group offers a hybrid model blending features of traditional hotels with the flexibility of short-term rentals, listing over 4,500 rooms and apartments in 28 European cities.Numa secured $59 million in a Series C funding round led by Verlinvest, known for investing in companies like Oatly and Vita Coco. The funding will be used to support Numa's European expansion, with a goal to reach 15,000 rental units across Europe. Here in German and her in English.Airbnb is restricted in NYIf you have missed the news, New York City has the joined line of many who have implemented serious restrictions on Airbnb in an attempt to lower housing prices for regular folk. Basically, hosts have to register their Airbnb with the city and a likely ban on renting out completely is a likely future implementation as well. Similar to that of Berlin & Barcelona. The CEO of Airbnb was “disappointed” and mentioned that ADRs are going to go up next year due to limited supply. Yet the NYC government is certain that tourism prices will be fine and no increase is likely coming. Funny, when the reason you ban Airbnb is to lower housing prices, yet you do not expect to rise in tourism ADR. Moving supply to one market to another surely should impact the dynamics of that very market. Except, of course, tourists do not vote for NYC government, yet locals who have to pay rent do.First Blockchain-OTASleap.io, a Swiss start-up, has launched the world's first hotel booking platform powered by blockchain technology, primarily targeting the cryptocurrency community. Positioned as the inaugural Blockchain Online Travel Agency (OTA), Sleap.io utilizes the Camino blockchain, created by Zurich-based start-up Chain-4-Travel. The platform connects users to a wide array of global hotels via traditional interfaces and plans to establish direct links with hotels and chains in the future. Sleap.io aims to substantially reduce transaction fees and commissions compared to traditional online travel agencies, thanks to cryptocurrency acceptance. It also uses non-fungible tokens (NFTs) for hotel bookings and employs wallet marketing to offer personalized deals while keeping user data anonymous. More here (in German).Tax paid by state in US (by HVS)HVS has provided an excellent report on how the industry is being taxed in the US. With the US complexity of various tax rates in each state, understanding the market average is rather complex. Nonetheless, if done, one can clearly see economic trends impacting the total tax paid, employment changes & top tax-paying states across the country. For starters, the average additional tax rate for tourism alone is 6,26%. With all the other taxes combined, you end up with an average of 14,21%. Pretty high, especially compared to Germany's 9 & likely 7% in the future. One of the most expensive areas is St. Louis, MO (25,15%) & the cheapest Fontana, CA (8%). Hence, if you want to open a hotel business and really do not want to pay taxes, the full list is available in the article. When it comes to total tax paid by the state, Hawaii is the highest contributor. In the cities list, NY is obviously number 1. Overall a very detailed report that we recommend to anyone who is interested in the US market and its performance (also over the last 5 years). Such a report for the EU would be highly appreciated HVS!HVS summarizes Europe`s Hotel transactions ending Sept. 23* Blackstone, via its subsidiary Magma Pledgeco, acquires the Cascade Wellness Resort in Lagos, Portugal, with 164 rooms, for around €50 million.* Dalata Hotel Group to acquire the operating leasehold of the Hard Rock Hotel Amsterdam American from Zien Group, set to become Clayton Hotel Amsterdam American.* Extendam and Atalante Hotels jointly acquire the Novotel Mechelen Centrum (122 rooms) and ibis Namur (92 rooms) in Belgium.* Wirtgen Invest purchases a future 269-room Motel One in Munich from CONCRETE Capital, set to open in Q1 2025.* Swedish investor Stig Svedberg's company, Tvättbjörnen Fastigheter, acquires Best Western Hotel SöderH in Söderhamn, Sweden, from Oscar Properties, with plans for renovations and continued hotel operation. More details here.Bed Bugs on French trainsBed bugs in French trains and cinemas are now a thing. If you thought that bed bugs only show up in hotels and homes you were wrong. The media in France as well as social media have exploded with sightings of the little bugs and it has even caused the French government to vow to get rid of the bugs before the Olympics. I guess the locals are used to the little crawlers, hence no need to do it before then. Now if any of you have been “lucky” enough to get the bed bugs, and know how difficult it is to get rid of them, doing that on an entire country scale, will truly be a massive project to undertake.2. ExternalitiesEconomics, finance, geopolitics. All have an impact on the hospitality sector.US Shutdown, again…We have reported on this before and will likely again. The US government is likely to shut down again, due to not agreeing on the budget (disclaimer they did not). What are the disagreement topics you ask? Easy, the Republicans (a minority group) want to remove easy access to abortions, build the Mexican wall & you guessed it removes various forms of climate policies. A total sum of 120 million USD. A seemingly ridiculous set of reasons to shut down the government for, yet some of the most disputed political topics currently on the agenda. For starters the US government has shut down 27 times before, hence this is surely not the first time. The approximate loss for the GDP is 0.2 for each week of shutdown. Will it impact the stock market though? Nobody is quite sure, since looking at previous shutdowns the stock market has both collapsed and rallied, depending on the circumstance. On the other side of this, what are some of the things that will stop working, since they are considered non-essential? For example the National Parks. Closed gates, no entry allowed, no tickets sold. A minor loss compared to the 0.2 GDP loss, yet still quite annoying. Finally, data collection and analysis for the Federal Reserve is also considered non-essential, hence if the shutdown happens the Federal Reserve will not be able to make the decision to higher or lower the interest rates in November since there won’t be any data to make that decision.The stock market is doing a flipWhat is going on in the stock market? In short, bonds of various countries are record high, so the regular stock market with its 7-8% annual returns is slowly becoming less attractive than buying bonds. As a result, fear is apparently spreading across the stock markets, where a massive amount of investors might opt out of stocks and switch, causing a significant price drop for any company that isn’t boasting a 20%+ return on annual investment. On the other side of things, how are various ETFs doing? (stock options that combine top companies from several industries, basically representing the market as a whole). Leading ETF MSCI World (supposed to cover the whole world) is doing pretty well, except it is 70% US and 20% only 5 companies (Apple, Microsoft, Tesla etc.). Indeed diversification hasn’t really paid off this year. And the polar opposite ETF called FTSE Developed (EU stocks) is underperforming.3. AcademiaScientific papers related to the topics above. For those who want to know for sure ;)Airbnb? No Thanks. Barcelona 2016While Airbnb was in many ways rejected by city authorities in NY this year, Barcelona did it back in 2016. This paper was one of the prerequisites that pushed public opinion over the board. In short, Airbnb made 3 claims as to why it was a net positive for the city and the paper questioned them. First, Airbnb locations are mostly outside hotel locations & as a result support underdeveloped neighborhoods (False, 70% of Airbnbs are in the main tourist locations). Second, Airbnb guests want to live like locals, and therefore support local businesses the same way. In this case, the paper argues that people who stay at Airbnb have different cultural backgrounds than the locals (i.e. more Germans stay in Airbnb than live in Barcelona) therefore it is “the same as locals”. Finally Airbnb states that locals get to subsidize their income by hosting, while the paper cannot verify this, it goes into comparing the demographics of Airbnb hosts & locals. Overall not a very academic paper which makes short cuts when data is not on their side, yet a good insight into the politics of Airbnb vs. city.4. ReadablesBooks, podcasts & the big stuff.About blockchain from the creator himselfIn the spirit of blockchain, we wanted to recommend the book that explains Bitcoin & blockchain from the perspective of its creator “Satoshi”. A good way to understand the philosophy of blockchain and how it works.5. Tips & Tricks Tools & SaaSAny new software you can use? Industry tricks you missed?7 Marketing channels for hotelsHere is a quick summary of 7 main marketing channels for hotels. If in doubt just look it up, the article also provides minor instructions on how to approach each. Your own website, Email marketing, Texting, Online Reviews, Paid and metasearch, OTAs & finally social media. Perhaps you can rate your own presence on each and calculate some sort of ROI. Get full access to Le Portee - Hospitality News at www.leportee.com/subscribe

TLDR: Too Long Didn’t ReadThis week touches on several key facets of the hospitality industry, including the integration of AI in revenue management and the importance of data utilization and team collaboration. It also highlights the performance fluctuations of the Skift Travel 200 Index due to the COVID-19 pandemic and the challenges faced by Berlin's clubs, such as rising costs and noise complaints. The impact of online review platforms on hoteliers' reputation and bookings is discussed, along with a decline in bleisure travel and the shift toward separate business and leisure trips. Future trends in the industry, like demographic changes and the influence of remote work policies, are explored, as well as the potential for continued economic growth in China, which could benefit hotel businesses.0. News snippetsNot important enough to expand on, but worth hearing aboutTech growth in India is powering hospitality growth; Another week another war, this time in Armenia; Since they had nothing else to do, the Mexican police arrested Chucky the demon doll (Sharp contrast to the effectiveness of the cartels);1. Main Hospitality NewsCore news related to the industryRevenue management with AIA recent interview with a Google ex, co-founder of FLYR sheds some light on companies that are trying to use AI and thus optimize revenue (in this case for others). The interview goes into basic recommendations like hotels “actually” using their data to optimize revenue (something several hotels still do not do), for the revenue teams to focus on uplifting revenue itself and not keeping previous guests happy. As well as, highlighting how a severe lack of collaboration within teams is according to Jens Munch, a big reason for a lack of good results. While the rest of the interview goes into promoting the product itself (check it out under flyr.com in case you want to get AI help with your revenue management), the interesting learning for us is that basic problems in the industry, like lack of collaboration, persist. And that stating basic things like working with others and improving your revenue can get you a long way. In a nutshell, all the AI model of FLYR does is look at past data and can optimize prices, and restrictions when needed (certain days can only be booked in the group), planning of revenue & management of the group quotes and displacement analysis.Skift Travel 200 Index - Shows the movement of the travel industryThe Skift Travel 200 stock index is designed to measure the $1 trillion-plus market for public travel companies, providing a number to represent the performance of publicly traded travel companies. For now, it tracks 196 public companies from 34 countries divided into five sectors: Accommodations, Airlines, Travel Tech, Cruise and Tours, and Ground Transportation.As of September 15, 2023, the Skift Travel 200 index stood at 985, down slightly from its starting value of 1,000 on December 31, 2018, with notable fluctuations due to the COVID-19 pandemic and subsequent recovery, outperforming the broader U.S. stocks over the past year by 8%.When looking at the sectors, it showed Travel Tech has been the best-performing sector over the past year, with a 42% increase, while Cruise and Tours have also seen significant gains, though ground transportation has underperformed, and Accommodations have slightly lagged. More on Skift.Clubs in Berlin are going underThe best clubs in the world, at least some, are in Berlin. Lately, they haven’t been doing so well. Why? A recent study/survey of club owners across the city showed a few cracks in the current business model. First of all, growing costs make it hard to make a profit (a trend all other industries have noticed too). A decrease in pure revenue, and no clear pre-corona recovery insight, showing a lack of visitors. Finally, perhaps even more interesting, a 37% spike in complaints from local neighbourhoods about the club's noise. Perhaps all the home office people need to just go back on business trips? Together we can likely see a wave of bankruptcies very soon. Similar to that of bars in the UK, which we reported on a few months back. If this piece of news touches you, make sure you tip your bouncer and spend a bit extra on that overpriced beer in the club, since that might be the last time you are doing it.Hotels can not remove themselves from review platforms (in most cases)Online review platforms, like TripAdvisor and HolidayCheck, significantly impact hoteliers' reputations and bookings as travellers increasingly rely on reviews for online reservations. While hoteliers must actively manage their profiles to address criticism and fake reviews, there's generally no right to demand full profile removal.Legal principles dictate that hotels must accept reviews on these platforms to preserve freedom of expression and information. However, exceptions exist when a platform's commercial practices compromise neutrality. Especially if they offer paid premium packages that may bias reviews and advertising. Decisions will depend on individual circumstances and the platform's focus – neutral reviews or commercial offerings. More on Top Hotels.Bleisure is down, replacement none?Some of you might remember, how the post-corona period was showing very profitable trends for hotels, where shoulder days that otherwise were always empty, were booked up by bleisure travellers. Business & Leisure. Even the CEO of Accor was bragging about how Corona allowed him to fill days like Sundays, which otherwise were always troublesome. Well, that is decreasing now and people are going back to their normal selves. Holiday or Work. Not combined. This is calling for a return to B2B travel, which however, as reported last week, is still not recovered from corona and might not be coming back any time soon. What remains is, standing out and being better than competition, a strategy that usually does not fail.Skift does a future trends summaryAnother week, another industry trends summary. This time by Skift. 4 main topics are mentioned, that “should” impact the future of the hospitality industry. Demographics change (people getting older, need for appropriate products & of course staffing crisis). Loneliness crisis and how Western communities are struggling to provide connection and travel making money from that. Advances in AI and how we will all not work, but just chill. Finally climate adaptation. Exciting 4 trends, that we heard elsewhere, except the loneliness part. Future forecasting for the win!Travellers are spending less on their tripsWith all the news above, another "positive" impact has been reported this week. Travellers are trading down their travel costs. Whether it's a cheaper hotel or an entirely different destination. The trend is also largely associated with increasing prices for that travel, hence if anything people are not spending less, they just haven't caught up with the inflation. Interestingly enough, the article provides a statistic on high price hotels make of up the total hotel sector. And while it has dropped from 22 levels, it now looks very similar to 2019. Hence, if anything, people have likely spent their cash reserves from Corona, outtravelled their urge to explore after sitting inside for 2 years and now are going back to normal.2. ExternalitiesEconimics, finance, geopolitics. All have an impact on the hospitality sector.Home office not as welcomeHome office not welcome? Not as much anymore. Google, for example, is pushing for 3 days at the office for all employees, with alternatives being negative performance reviews. In leading German firms, the situation is mixed. It has become acceptable in some, where 1-3 days remote is acceptable, while in others it is outright not possible. Nonetheless, almost all companies accept it in some way or form. While in the US 39% of new hires have hybrid contract models, where part of the week can be spent working from home. The old news, whatever Google is pushing for people have realised they can stay at home and work, while employers save money on offices. Hence, it is here to stay.China is old, but still good to goThere is an urban myth going around, that China has grown old before it has grown rich. The demographics are already showing a decreasing ageing population, while the GDP per Capita is still not at the first-world level. That is a myth. Most of the GDP growth came not necessarily from population growth but from university attendance & a general increase in highly skilled professionals. Additionally, China’s strict retirement age hasn’t done the job market any good. 55 for women & 65 for men. Something that can be fixed with a policy. Women alone can be brought up to another 10 years of work (surely “exciting” news for those retired). With a few other factors as well, future economic growth can keep going and isn’t likely at risk of collapsing, because of demographics alone. Hence, hoteliers, hope for another good decade of Chinese coming to your business to spend that hard-earned cash!3. AcademiaScientific papers related to the topics above. For those who want to know for sure ;)During the pandemic, an academic study was conducted to see how the lockdowns were affecting people’s perception of travel. Initially, an average traveller would plan to go on holiday at least once every 12 months. The study showed that people in the pandemic were already planning to go at least once every 6-9 months, due to the lockdowns. While easy to agree to today, a few years back this was still a speculation. Academia, folks, sometimes uncovers data that we only take for granted years later!4. ReadablesBooks, podcasts & the big stuff.How it is like to build the biggest cruise ship in the world?While the construction industry is not solely related to Hospitality or Services, big chunks are. This week we recommend a recent podcast from “The World’s Best Construction Podcast” (their actual name). Specifically their episode about building the latest biggest cruise ship in the world and how it's done. While the podcast does not go into the service details, the construction process is pretty exciting. Get full access to Le Portee - Hospitality News at www.leportee.com/subscribe

TLDR: Too Long Didn’t ReadLobbying in the German hospitality industry includes inviting the Chancellor for VAT reduction discussions. WeWork's financial woes continue with losses and board resignations. Business travel costs rise amid a demand paradox. Hotel interior design trends focus on organic, multifunctional spaces, comfort, and clarity. China restarts cruises and lifts group tour bans. kununu's Best Employers 2023 for Germany includes hospitality. A loyalty program study shows travelers prioritize cost over rewards. Air India rebrands as its fleet expands. Real estate prices vary globally. Stock market predictions for 2024 are uncertain. Latin America's resource demand could lead to growth. An academic study forecasts hotel prices using game theory. "The Big Con" book questions consulting firms. Sonder's innovative guest journey breakdown. Hotels consider removing TVs from rooms.0. News snippetsNot important enough to expand on, but worth hearing aboutA new brand from Marriot StudioRes to provide midterm stays at 80$ ADR, Occupancy & ADR forecasts 2023 vs 2024 are about 1% by STR, bear attacks are being politicized in Slovakia, and African coups might be stopped by an African version of EU.1. Main Hospitality NewsCore news related to the industryLobbying in the German Hospitality industryWhat does lobbying look like in the hospitality industry? Easy, you invite the Chancellor of Germany for a meeting with industry professionals in a hotel garden (Game of Thrones style), talk about the importance of entrepreneurship in the industry and finally ask to keep the 7% VAT reduction of F&B (initially a temporary measure during corona). Special interests at its finest!Is WeWork bankrupt?WeWork's financial struggles continue, its stock already plumbed by 90% last year from a peak valuation of $47 billion (today´s market cap is 431M). The Q2 report indicated a $397 million loss, a slight improvement from last year. The resignation of three board members causes a 27% dip in WeWork's New York stock. The company acknowledged doubts about its future and plans to restructure, seeking cheaper rents, cost reduction, and fresh capital in the coming year. Read more in Capital.Business travel paradoxBusiness travel costs have risen, while demand for in-person meetings has risen as well. A sort of paradox between a likely recession looming, rising costs due to inflation, yet still recovering demand for B2B travel. A recent report is forecasting continues high prices, hence the question rises if Business travel will remain as is now. On the other hand, a recent report by MasterCard surveying over 500 business travel professionals (the people who manage travel for their companies), shows unique optimism in their own profession. 90% are expecting a rise in travel due to hybrid work locations (contradictory in itself). 85% even go as far as to say that a Chief Travel Officer, will likely be needed soon. Given that people are unlikely to be unsure of their own profession, this report comes as no surprise. The only thing missing is a 100% affirmation rate in survey responses (North Korean style).4 Hotel Interior Design TrendsHere are the key interior design trends in the hospitality industry:* Delicate and Organic: Designs are detailed and organic, with wood, pastels, and accent lighting creating a warm ambiance.* Multifunctional Lobbies: Lobbies serve as bars, cafes, and more. Green plants and self-service options are prevalent.* Emotional Individuality: Rooms offer comfort and advanced technology. Sustainability is a priority, with eco-friendly materials.* Cozy Clarity: Designs prioritize guest needs, combining comfort and clarity. Warm tones, clear accents, and sustainability play key roles.China, the big restart!The big restart in China is on its way. Cruises are restarting again, in fact, the first boat since 2019 has set sail. In fact, a ban on group tours for over 70 countries has been lifted. For relative comparison, the Chinese have spent 777 billion USD prior to the pandemic on tourism, 255 of which was spent internationally. Germany, 2nd on the list of top spenders, for comparison spent half of that in 2019. Hence, while we have very mixed news on this tourism source, this week around is mostly positive. Economically speaking, the paradox of high travel, and low economic performance is also present. In fact The Economist, this week released a very insightful caricature of how China is doing economically, over here.Best Employers 2023 (in Germany)Best Employers of the Year was released for Germany by Kununu. A platform that allows to rate and compare employers. Hospitality is not overly present with top winners being in the industry starting around the top 100 and spreading down to 500. In case you are interested full results are here & for hospitality specifically here. Next week will post a summary by industry in our notes, over at substack.com.Loyalty programs studyThe state of loyalty in travel has been explored in a study by Barclays & Wakefield Travel. The wording of the results is for us the most interesting. “Nearly half of the travelers in such programs prioritize earning rewards over lower costs”. Or how we would put it the majority care more about lower costs than rewards. In the end 44% care more about rewards. Millennials are apparently the most impressionable, since 74% care more about rewards compared to the average. If you are wondering how much of an actual discount do I get from collecting miles, then the calculation is as follows. To collect one 1 mile you have to spend around 31 cents. 1 mile is worth between 1-1.5 cents in various forms of redeeming programs. Hence the actual discount you get from using loyalty programs is around 3%. Truly magnificent.Air India is rebrandingOne of the leading airlines from India has decided to rebrand and modernize. It will be “bold, confident & vibrant”. A lot of powerful words that get thrown around a lot at every rebranding party. Nonetheless, these words stand behind an order of 470 Airbus & Boeing aircraft. Very bold indeed. For comparison, the number one customer of Airbus (Indigo, another Indian airline) has ordered 830 planes in total. Lufthansa stands at 521 historically. A very quiet growth that not many are noticing.2. ExternalitiesEconimics, finance, geopolitics. All have an impact on the hospitality sector.Real Estate prices or what it is like to ride the wavesReal estate prices are going down. Yet in what ways? In the US rental prices have risen significantly, which is currently leading to a rising number of vacant apartments and in turn is likely to impact purchase prices. On the other hand, a study of real estate prices across Germany shows a likely increase by 2035 in AAA cities and a much slower growth or even a decrease in prices in less populated regions. Combined with news reported last week on an Airbnb bubble, the Real Estate market is surely too complicated to expect to behave uniformly across all regions.Stock market news at it againStock market professionals are raising alarms again. At least some are. Various influencers, credit agencies, and consulting firms are all forecasting different economic outcomes in 2024. Whether it is a full-blown recession or continuous growth with rainbows. Like in early 2023, the media landscape is uncertain of the economic future.Latin America, the future success continentLatin America is in the news again. What big trends are impacting the world and pushing some continents ahead of others? For starters resources and their forecasted demand across the globe. In this regards Latin America is at least second if not 1st. Due to the increase in green economy demands worldwide, materials like Lithium & Copper are rising in demand. Which puts this wonderful continent at an advantage above most others. If all things go well and Latin America manages to deliver on metals & even food export, it might get a pretty good base for development in the coming decades. The world economy grows and with it travel. Hence, if not for the Chinese at least Chileans might stay over at your hotel in 2040.3. AcademiaScientific papers related to the topics above. For those who want to know for sure ;)In the spirit of forecasting the future of hospitality, why not look into the most basic KPI that every single hotel company tries to forecast? The ADR. A recent study was released exploring game theory and with it predicting the prices of hotels during the covid period. Spoiler accuracy was above other more common historic models. Full study here with the PDF.4. ReadablesBooks, podcasts & the big stuff.Consulting firms are great, aren’t they? Everybody wants to work for them! Yet is there perhaps another side to the whole thing? Indeed there is, at least according to “The Big Con” by Mariana Mazzucato & Rosie Collington. Check it out here or read the 10-minute summary here.5. Tips & Tricks Tools & SaaSAny new software you can use? Industry tricks you missed?Guest journey of an innovative hotel chain (How to)We talked a lot about a few new hotel chains that are doing things “differently” from the conventional chains. This week, an interview with the co-founder of Sonder, and a breakdown of their “innovative” approach to the guest journey is available here. Take the whole thing with a grain of salt, since their stock price is still at 48 cents.No TV in hotels anymore?It might be time to get rid of TVs in your hotel room. An interesting take on removing TVs among hoteliers is apparently happening all over. Whether it is with the idea of maintaining an 18th-century vibe of a chateau or a move to simply save money. Given the current growth of individual devices, those who did remove them report little or no complaints. “As long as you provide excellent wifi of course”. An interesting take that might go against other findings, is that over 42% of people are looking for smart TVs in their rooms. Get full access to Le Portee - Hospitality News at www.leportee.com/subscribe

TLDR: Too Long Didn’t ReadTimeshare sales increased by 30% in 2022, but it comes with high costs and limited flexibility. US airlines face challenges with strong demand but lower yields during peak season. OTAs distribute but don't generate demand. Booking.com's Q3 bookings exceed forecast, while Expedia and Tripadvisor fall short. Casai, a short-term rental startup, ceases operations and shares lessons learned. The Greek government offers free trips to evacuated tourists after wildfires. Google wins a court case against bias claims. A take on VW's situation suggests potential benefits for Germany in the long run. A guide offers insights on implementing AI in hospitality.0. News snippetsNot important enough to expand on, but worth hearing aboutSTR report indicates positive trends across all US travel statistics this week | Sceptical about Twitter's change to X? Well at least you will be able to see the fight between Musk & Zuckerberg streamed on there! | F&B Sector is demanding more teen workers due to shortages, more specifically changes of legislation.1. Main Hospitality NewsCore news related to the industryHow Europe combats “Overtourism”Popular European destinations are facing over-tourism issues, causing problems like housing shortages, traffic, pollution, and discomfort for residents and tourists alike.To address over-tourism, several countries are taking actions such as banning cruise ships from ports, imposing entry fees and restrictions on popular sites, regulating tourist flows, introducing tourist taxes, imposing fines for loud music at beaches, and implementing luggage drop-off systems.These measures aim to control tourism and maintain the beauty and sustainability of these destinations while providing a positive experience for visitors and locals. More details in the Forbes article.What was first, demand or OTAs?Recently a very valuable question was asked over at hospitality net. What makes people decide to go for a specific destination/hotel? Industry experts were given a chance to respond and that they did. Results? From an experience standpoint no, “since destination demand and desire is something predetermined, by the time guests arrive on an OTA”. From a statistics perspective, a very insightful study by Expedia was cited, where only 28% of people go to an OTA to find a destination, the majority starts with social media & meta platforms. Hence, overall OTAs are demand distributors, but not generators.Mixed Q2 results across OTAsWhile Booking.com has upped its Q3 forecast and is seeing an increase of 27% in bookings (from forecasted numbers), Expedia’s Q2 results have also risen, but are below forecast (specifically all sectors besides hotel bookings have not performed as well. At the same time, Tripadvisor has reported similar results. Rising revenue, but “not as good”. The boring world of forecast news is indeed based on makeshift statistics & assumptions that completely ignore the sheer impossibility of calculating the revenue of an entire travel sector without including millions of variables.Let´s talk TimeshareTimeshare is a vacation ownership model where individuals buy the right to use a property for a specific period annually. Pros include vacation accommodations at desired locations, but cons include high upfront costs, maintenance fees, and limited flexibility.Timeshare sales in 2022 increased by 30% and the industry has evolved to offer more flexible club products, leading to higher satisfaction among owners. Despite short-term challenges, the industry's prepaid vacation model and multiple revenue streams make it a promising opportunity for developers and resort owners. The specialist from HVS writes more in detail here.Short-term rental startup fails, what does the CEO learn?A recent ceasing of operations has been announced for Casai. A Latin-American company that started in 2019. Lucky for us though the CEO has decided to share his learnings from the failure. In fact, there are 4 in total: Invest more in financial infrastructure (better bookkeeping), More investment in HR and company culture, ignore the 2021 spike in cheap cash (plan for the worst), open up and ask for help sooner or in general. 4 Lessons the rest of us should surely use!US Airlines face “weird” marketU.S. airlines find themselves in a peculiar market with strong demand for travel but lower yields during the peak summer season. Typically, airlines would cut flights and raise fares to address this situation, but given the high prices and demand, these measures are not effective.The dynamic is causing airlines to make schedule adjustments and explore growth strategies to balance the strong demand and higher costs, but the overall outlook for the industry remains positive, with some carriers benefiting from a leisure peak flying approach. Several Airlines are relatively immune to the trends due to premium offerings, loyalty programs, and large international networks. More on airline weekly.Wildfires in Greece? No problem, the government will give you a free tripWith recent wildfires in Greece, and thousands of tourists being evacuated the government has announced a pretty compelling plan. Did your holidays get interrupted by the fires? No problem, since the government is offering 1 free week in Rhodes islands as a “sorry treatment”. A pretty unique approach to trying to restore trust in a destination, let's see if it works!2. ExternalitiesEconimics, finance, geopolitics. All have an impact on the hospitality sector.Google did not skew results in its own favour?Apparently not, according to the latest judge hearing in the District of Columbia. The judge dismissed the claim that Google was pushing its own products above TripAdvisor and others, due to the evidence being entirely opinion based and not factual. In contrast, a similar case in EU ordered Google to pay 2.4 billion Euros for doing just that with its shopping feature.VW might fail, but is that bad?A recent take on VW’s situation is indicating that VW is being outcompeted by Tesla, Chinese revenue might fall (40% of the entire business) and VWs slow adaptation of software development would be the final cherry on top. But is that bad? On one side 2.5 million are directly employed or dependent on the automotive industry in Germany. If they are all fired, what will replace that giant gap? The argument is that innovation will simply push new joiners and current professionals to other sectors, finally freeing up a giant lump of Germanies talent to innovate in tech and therefore benefit the country (which is behind worldwide) much more.4. ReadablesBooks, podcasts & the big stuff.Destination Life-CycleTourist destinations are predestined to have a life cycle, just like hotel buildings or any other business. Richard Butler indeed invented a destination life cycle, which shows various up & downs related to investment & demand. For more read here.5. Tips & Tricks Tools & SaaSAny new software you can use? Industry tricks you missed?How to use AI in hospitalityA recent guide provides insight into understanding & implementing AI features within your hospitality business. With all the talk of “potential” gains we though you might actually use some hands-on advice. Get full access to Le Portee - Hospitality News at www.leportee.com/subscribe

TLDR: Too Long Didn’t ReadIn the news snippets, Putin suggests peace talks and Niger experiences another coup. In hospitality news, U.S. Senators criticize tech giants like Google for anti-competitive practices, Sonder launches its first hotel collection, Hopper faces challenges but may maintain market position, Disney's CEO returns to focus on cost-cutting and cartoons, and Chinese tourists show rising interest in visiting the West again. Hotel development costs are slowing down after previous increases. In externalities, China's economy is uncertain, and Italy regrets joining China's BRI project. Academia discusses China/Russia tourism relationships. In Tips & Tricks, Bob W is a rising self-automated hospitality chain.0. News snippetsNot important enough to expand on, but worth hearing aboutPutin says peace talks are a possibility; Another coup in Africa joins the line of 4 coups within the last 2 years, this time Niger? Why did it happen? “Unclear”.1. Main Hospitality NewsCore news related to the industryTech Giants Accused of Obstructing Travel CompetitionU.S. Senators Lindsey Graham and Elizabeth Warren have criticized Google, along with other tech giants like Amazon and Apple, for allegedly engaging in anticompetitive practices that "suppress competition." The Senators specifically point out Google's search engine bias towards its own travel products, such as Google Hotels and Google Flights, which they claim give the company an unfair advantage over competitors in the travel industry.The Senators are sponsors of the Digital Consumer Protection Commission Act, which proposes creating an independent regulator to oversee major tech companies and address issues related to online harm, free speech, competition, privacy, and national security. Read more on Skift.From Apartment Service to HotelsSonder Holdings Inc. has launched its first hotel collection called "Powered by Sonder," which includes 23 uniquely designed boutique hotels in 13 markets. These hotels are operated by Sonder, so newly the offering includes SPA and F&B services in combination with app-enabled modern services. Is this a way of improving their financial situation? Read the full article on Wall Street online.Hm… Hopper has allegedly anti-consumer bends too.Expedia accused Hopper of having anti-consumer fintech products. However, Hopper is still offering its major fee-based features, such as price freeze, flight cancellation, and disruption guarantee. CapitalOne Travel, a major investor and distribution partner for Hopper, has not commented on the impact of Expedia's withdrawal. Hopper runs promotions and explores new social media strategies, such as the Hopper Content Creator beta, which lets users upload travel-related content for rewards or vouchers. Industry experts suggest Hopper may weather the split with Expedia and maintain its position in the market. The exit from the partnership raises questions about the viability of B2B distribution partnerships with competitors, possibly influenced by Hopper's travel partnership with Uber. Expedia is not expected to feel a material impact from the end of the partnership, as it didn't file a notice with the U.S. Securities and Exchange Commission. Yahoo has more details.Disney come back!Disney CEO from 2020 is coming back and the focus this time is cost cutting & focusing on what Disney does best, which is cartoons & experiences. Stock market media is optimistic about the change. Combined with Disney’s successful approach to automation the dropping stock price is expected to come back. This is seen in things like the “MagicBand”, a simple magnetic band that allows repeat guests to check in, pay and open any doors they should be allowed to and a few more modern hotel tools, that allow to automate the boring stuff and capture the “magical moments” well. Given the failure of Disney's latest movies & poor profitability of the streaming service, reinventing the wheel might be necessary. Disney already had similar moments in 2008 when both the parks & film content weren’t doing so well. Exciting to see how the ultimate hospitality experience provider will survive.Are the Chinese coming?What happened to the Chinese tourist boom? A topic we have seen come up several times in the last few months, mostly with the conclusion that it won’t happen yet, but just “wait for it”. A recent study of Chinese travellers has shown rising interest in visiting the West again. Prior we saw rising interest in travelling across Asia-Pacific & locally. This is apparently changing now. Combined with higher spending on services vs products due to the economy developing (a natural trend that makes people want more experiences than products the richer they get) a comeback is expected any moment now! Not in the US of course, due to geopolitical tensions that can be seen in the day-to-day thinking of regular folk.Hotel Development costs are following the rest of the economyHVS released insightful survey results outlining hotel development costs in 2023. While we previously have seen increased costs due to an unlucky combination of factors during the last 3 years. Cheap loans, high investment, breakdown of supply chains & labour shortages. Cost increases have finally started to slow down. Causes are to be examined elsewhere, nonetheless, a full breakdown of cost-per-room by development type can be seen here.2. ExternalitiesEconimics, finance, geopolitics. All have an impact on the hospitality sector.China’s economy and how is it?China, China China. This is what the news expressed this week. A variety of different statistics were put together by the economist this week, to indicate whether the Chinese economy is in trouble. This a long-standing question that worries everyone everywhere at all times, since such high dependence has been built between the West and China. Conclusion? While the state says they are doing great, the public feels like things are “going down” while the state statisticians are reporting good numbers. The actions of the state itself (an more explicit indicator of what the government thinks) show are not extreme. Meaning no fiscal plans were released to support a “crumbling” economy. That data itself shows mixed results. Consumer prices have not risen (likely due to purchase power still being pretty low), GDP growth is below expected, unemployment is relatively low, and so on. This leaves us, regular folk, guessing (as always)Italy wants to leave the China fan clubOn the other side of things, Italy is regretting having joined China's BRI project. Belt and Road Initiative was designed to build a silk road 2.0. Trading route infrastructure allows next-level import/export traffic between any willing participants. China would finance infrastructure projects and the country benefits from new trading routes. Italy has nonetheless discovered the results were mostly beneficial for China. Imports from China to Italy growing, but not the other way around. And now it wants to leave.3. AcademiaScientific papers related to the topics above. For those who want to know for sure ;)A study into China/Russia tourism relationships has been recently published here. Outlining how such a “partnership” results for both countries. You are outlining typical tourists that China sent to Sankt-Petersburg and how this behaviour has been connected with the overall economic state of both China & Russia. You guessed it right, big groups, mostly women, are saving money and focusing on shopping. At least that is what Sankt-Petersburg has mostly experienced.4. ReadablesBooks, podcasts & the big stuff.In the midst of mixed news and uncertainty, we thought to recommend something different. Emotional health is an important topic ignored by many. How is it though to go to a psychotherapist? “Maybe you should talk to some” provides a pretty insight into what conversations with a therapist are like coming from real examples. Check it out here.5. Tips & Tricks Tools & SaaSAny new software you can use? Industry tricks you missed?Bob W founder and what is pushing a new chain forward?A rising new hotel chain Bob W is one of the leading new players in the self-automated hospitality experience. A recent interview with one of the co-founders provides a pretty good insight into how such a chain is started, operated & where it is leading! In a nutshell, a self-driven, tech stack, with a high NPS score of 80+ is the main focus, for more read here. Such interviews are obviously not confessions of all secrets such founders possess, nonetheless show pretty well what they think matters in the eyes of potential investors ;) Get full access to Le Portee - Hospitality News at www.leportee.com/subscribe

TLDR: Too Long Didn’t ReadIn hospitality news, Airbnb is causing a housing bubble and correction in the US market, while Amex reports increased spending among Gen Z and millennials. In externalities, global warming is worsening due to more than just CO2 emissions, and inflation remains a concern. Academia highlights the poor quality of research into information technology's impact on the industry. Finally, a report on EU travel, trends and tips for OTAs surviving the pandemic and diversifying revenue streams are shared.0. News snippetsNot important enough to expand on, but worth hearing aboutLimehome (leading self-reception hotel concept) has opened up 1000 new units, a total of 4.5k so far in 2023, the new goal of 5.5k by EOY; Israel’s protests are taking place due to the supreme court losing power and more rights going to the parliament, the law, however, has already been implemented; Twitter is no longer Twitter, it is now “x: Spanish elections are showing mixed results, no party can take the lead, conglomeration is upcoming; Germany’s leading political parties have tried to adopt a few views of the “far right” AfD, but apparently, people tend to believe the source material more than the copy cat.1. Main Hospitality NewsCore news related to the industryAirbnb causes housing mini bubble, correction in progressAirbnb is an endless source of money and wealth. Do you want to retire? No problem just buy an apartment in a nice area and rent it out short term. Well, unfortunately as per free market rules, where there is opportunity, there is usually a queue of people waiting to claim it. In a recent case in several counties across the US, the housing market initially was booming mostly related to Airbnb purchases, yet now the reverse has happened. High competition, lower ADR, more legal limitations & the next thing you know there is a frenzy to sell real estate. Hence, folks next time you think this is profitable at this moment, consider you are not the only one.AMEX spending is up, especially amongst the younger generationsAmex has reported on their travel-associated spending for the Q2, so far. It has obviously grown, in fact by 14%. Interestingly enough an additional growth in new AMEX users was also seen. Specifically amongst Gen Z & millennials (60% of total growth). Their spending also increased on average by 21% and not the 14% representative total user pool. A trend a lot of media has reported on for a while, finally coming to fruition.How easy is it to steal at Hotels?In Germany, a person got a sentence of 5 years in prison for 17 different hotel heists. How did he steal? I just asked the 5-star hotel staff convincingly to open “his” room as he has forgotten something. Closed the door behind him and tookIn Germany, a person received a sentence of 5 years in prison for committing 17 different hotel heists. How did he steal? He simply asked the 5-star hotel staff convincingly to open "his" room as he had forgotten something, closed the door behind him, and took what he wanted. This serves as a small reminder to put your important belongings into a safe when travelling. Red in German here.Get rid of registration requirements in HotelsNancy Faeser (SPD) proposed abolishing the registration requirement for German citizens in hotels. The idea aims to reduce bureaucracy in the hospitality sector.The Federal Ministry of Justice supports Faeser's proposal, welcoming moves towards bureaucratic simplification by the government. The Hotel Association of Germany (IHA) and the German Tourism Association (DTV) support the initiative, but some challenges remain, particularly regarding the treatment of foreign guests and the potential impact on tourism and local regulations. Article here.Fast and loose tweet about AirBnB Revenue CollapseNick Gerli tweeted about an alleged "Airbnb Revenue Collapse" using data he sourced from AllTheRooms, but it was later revealed that he had manipulated the data to show dramatic drops in revenue for certain metro areas. The misleading claims caused investor concerns and led to a slew of news articles and social media posts, potentially impacting Airbnb's reputation and raising unwarranted doubts about the company's financial health. However, other data analyses from different sources, like Key Data and AirDNA, showed more modest declines in Airbnb host revenue compared to Gerli's claims. More on Skift.STR occupancy digestWeekly statistics digest by STR has been released for the US market. Apex occupancy has been reached, now the trend is only downwards. Shoulder days (Sunday & Thursday) have decreased funny enough (counter to Accor’s CEO appraisal for a long-term positive shoulder day trend). Global occupancy levels have finally reached pre-pandemic, meaning 3rd world has finally caught up (since Western economies have recovered in Q1). Future Q4 looks good and is in accordance with pre-pandemic levels.2. ExternalitiesEconimics, finance, geopolitics. All have an impact on the hospitality sector.Global warming is getting worse, and its because of CO2You might have heard record temperatures across the globe. Yet again! In fact, this year is the hottest since proper global temperature recordings have started. Is it all greenhouse gases or is it more? This article provides an interesting insight into how there is a whole lot more going on than just CO2 emissions. For one the bell curve of extreme weather has now moved a few deviations above, likely making the extreme more common. A volcanic eruption of Mount Pinatubo. While CO2 wise is not too bad, the sulphuric dioxide released is so high it is reflecting the sun's rays back into space. Additionally, ice caps starting to melt is adding additional trapped methane into the atmosphere making the whole situation even more complicated. Given the article comes from the economist and not a crazy left-leaning blog, it truly makes one thing what is coming next,Inflation down, crisis over?As the title implies, not really. While monetary inflation has dropped, CPI is still way above usual margins (energy & food 4.8% etc.). The labour market has not seen major layoffs, just fewer open positions (likely related to the demographic crisis), but nobody is quite certain if the surplus of open positions will last another few quarters with less money on the table. Finally, while the US is at 3% inflation, others are still experiencing a high %, while others haven’t even started paying attention (aka Japan). So overall, the honest answer seems, f**k if I know.3. AcademiaScientific papers related to the topics above. For those who want to know for sure ;)Research into information tech is of poor quality, a research paper says.In the spirit of science, a recent paper enlightens its readers of the poor quality of papers that try to research information technology (internet, APIs, tech, etc.) and its actual impact on the industry. Siting lack of rigour & relevance to 2023. A great paper, we would argue, since indicating issues in one's source of truth is often the hardest thing one can do.4. ReadablesBooks, podcasts & the big stuff.EU heavy-duty report on travel trendsOn the topic of statistics, a huge statistics report on EU travellers has been released detailing where people want to go and why. Full on 45 pages on valuable insight for all thinks EU tourists. In case you want to avoid reading misquoted clickbait, this report comes highly recommended!5. Tips & Tricks Tools & SaaSAny new software you can use? Industry tricks you missed?How to survive during a pandemic as an OTA (China case)How to survive guide for OTAs during Pandemic. A case study of Chinese OTAs making it through the Corona period with one of the world's harshest quarantines. In case you are interested check it out here.More creative ways to diversify from room revenueJumping on a topic of creative revenue diversification from hotel guests a few weeks ago. Lucky for us HVS has put together a few more examples this week. Amongst these, HVS shows examples of hourly rentals, pool revenue from reservations (via QR codes) and so on. For more tips here. Get full access to Le Portee - Hospitality News at www.leportee.com/subscribe

TLDR: To Long Didn’t ReadThe hospitality industry faces challenges in adopting fintech advancements due to legacy systems but can partner with and invest in fintech startups to enhance guest experience. The US tourism industry needs better coordination, investment, and collaboration to achieve a full recovery post-COVID-19. More bookings than last year, but much more short-term, making it hard for revenue managers to forecast traffic. Global Distribution Systems are becoming outdated and a new tech protocol NDC is slowly giving back airlines control over their own fares and additional bookings. China's economy is on course for a double dip, and the tourism boom may not last due to higher interest rates and decreased spending. The most successful German hotel chain, Motel One, has a unique revenue management strategy and is mostly independent of OTA channels. Tips include using guest names effectively and benchmarking guest experience scores.0. News snippetsNot important enough to expand on, but worth hearing aboutIsrael is bouncing back in tourism, mostly thanks to the Abraham Accords (Middle East Internal market might become self-sufficient); More startups are starting to go bust, mostly due to a lack of funds to support day-to-day profitless businesses; Airbus is expecting demand for over 39t new planes by 2040, half of which are replacements of older models.1. Main Hospitality NewsCore news related to the industryGDSs are becoming just another distribution networkGlobal Distribution Systems are slowly becoming outdated and a new tech protocol NDC is slowly giving back airlines control over their own fares & most importantly additional bookings (like hand baggage). Effectively NDC allows airlines to create their own API integration to which anybody can connect, multiple GDSs, clients directly etc. And most importantly guests who booked via an NDC system can then go back to that booking and upgrade (directly getting data from the airline). Previously GDSs were the ones putting this data together for passengers limiting communication & upselling opportunities. Basically, airlines can now communicate directly to the bookers without intermediary limiting that, more details here. As part of that news, Air Canada has announced their own NDC and has recently announced a deal with Sabre (a GDS) to become part of that network and not the sole operator of it.Concerns of hotel executives regarding fintech disruption.Fintech companies offer alternative payment platforms and blockchain-based systems. The benefits of this include reduced transaction costs, increased security, and improved efficiency in financial operations.However, traditional hotels face challenges in adopting new technology due to legacy systems and processes that are not compatible with fintech advancements.To embrace fintech, the hospitality industry can partner with and invest in fintech startups to adopt their solutions. For example, in loyalty programs and revenue management, fintech can enhance the guest experience through streamlined payments. More here on Skift.How can the US Tourism market recover fully?The U.S. tourism industry needs better coordination, investment in infrastructure and technology, improved air travel policies, sustainable practices, a diverse and inclusive workforce, innovation, traveller safety and security measures, and collaboration between public and private sectors to achieve a full recovery post-COVID-19. Read more here.How to make an airport soundproof for the neighbourhoodThe case against flights being cut has been raised by a multitude of airlines in the main airport of the Netherlands (Schiphol) after the local government decided to stop giving new routes (flight permissions) and has even decided to cut some existing flight routes as part of noise decreasing & more environmentally friendly policies. KLM uses it as their central hub or in other words as their main platform to grow and has also proposed a more “smart” alternative. Reroute some of the flights to avoid noise & to upgrade the planes being used in the airport, which would comply with local standards. This is a very interesting case of the government going for a drastic solution, while a major business is trying to propose more lean resolutions. Schiphol is the first airport in the world (as far as we know) to try to impose such measures, hence this might create a domino effect across the world. Unless of course airlines and place producers won’t come up with some innovation, like Airbus reducing noise by over 50% in their new A320neo models.More bookings, but also more short-term chaosMore bookings than last year, but much more short-term. Making it hard for revenue managers to forecast traffic. A trend illuminated by the recent meeting of hotel executives at an Investment Council meeting. Hence, while all the recent data shows an uptake in guest bookings relative to 2019, it has become more sporadic and less manageable for the hoteliers themselves. (Source)2. ExternalitiesEconimics, finance, geopolitics. All have an impact on the hospitality sector.China doing great, but not reallyChina, China, China. Will it bring back its tourists to the rest of the world and take over major chunks of hotel rooms & of course restaurant sits? Hard to say, since the news on this front is very much mixed. On one hand, China has made a trade deal with over 15 countries in the Asian region and has in many ways out-traded the US. On the other hand, internally there are “issues”. While the rest of the world is still running around with high-interest rates, China is forcing them down in order to revitalize the real estate market. The tech market is apparently suffering from the overreaching hand of the authoritarian state. Local governments have overspent and are struggling under internal debt that cannot be paid back. So while on the outside China seems to represent prosperity, internally things are not so simple. Whatever it is, long-term Western world is not seen as a partner for China. Especially when even Japanese banks are raising internal alarms and are likely to decouple themselves from the Chinese market.Economics vs tourismWill the tourism boom last? This is a question we have seen many ignore in the past few months, blinded by the happy return of countless guests from all over. But will it? According to this article, likely not. Why? Likely higher interest rates that stay higher for quite a bit longer, hence slowing the economy down. Decrease in other forms of spending like clothes & dining out. Chinese lower than expected demand and opting in for staycations. Overall, not a very positive forecast for hospitality professionals.3. AcademiaScientific papers related to the topics above. For those who want to know for sure ;)Future of airline distribution from 2006 forecastA study all the way back from 2006 forecasting the future of airline travel distribution. Conclusion? Air travel distribution will become more fragmented even allowing passengers to book more directly with the airline. In other words “deregulation” of the sector, forces various b2b providers to offer more value when it comes to organizing trips. I suppose the forecast was correct!4. ReadablesBooks, podcasts & the big stuff.Motel One founder interview or the number 1 German hotel chain.The most successful German hotel chain Motel One is doing great and has survived Corona well. But how did it come about at all? A recent interview with the Motel One founder has shown light on the thinking and strategy that Motel One implemented for over 23 years now. Amongst them is the very peculiar way of revenue management that Motel One has, which is basically none. In fact, Motel One Promise is always one price no matter what, except of course exceptional events throughout the year. This resulted in 80% of direct bookings that make Motel One more or less independent from the OTA channels (an achievement, almost no other hotel chain can claim). There are several other outside-the-box innovations that this chain has brought, hence we highly recommend you watch the interview.5. Tips & Tricks Tools & SaaSAny new software you can use? Industry tricks you missed?How to use guest names in the day-to-day businessUsing your guest’s name has been a long-standing rule in hospitality. A recent article here illustrates 5 ways you can do that effectively. Some academic sources indicate a 6% increase in tipping from restaurant guests if addressed by name. Hence, it is a strategy one should try to use more.Benchmarking guest experienceHow to benchmark your guest experience scores vs the market? We found a Q1 benchmark report with just that topic, going by star rating and regions. To look it up click here.Cybersecurity for hotels, the how-to-guide for beginnersWhile cybersecurity is extremely important, it often seems so complicated for that regular hotelier, that the topic is entirely ignored. Until of course, your guest is stolen, bank accounts are hacked and you have a lawsuit on your lap. So should one do? For starters, the article provides a simple guide on what data is actually important. 2nd step is to make sure it is safely secured behind a 10-step process. Understand what you need to protect & protect it (following best practices here) Get full access to Le Portee - Hospitality News at www.leportee.com/subscribe

TLDR: To Long Didn’t ReadThe Fintech in Hospitality newsletter for Week 23 reports on the death of the brand in hospitality, the release of the new Apple AR headset, and the possibility of Expedia catching up with Booking.com. Other news includes China's slow recovery in tourism, mandatory registration for political lobbying organizations in Germany, and the potential for more tourists in the Middle East due to the Abraham Accords. The newsletter also includes tips for increasing profitability and improving the guest journey in the hospitality sector.0. News snippetsNot significant enough to expand on, but worth hearing aboutThe US agreed on a new debt plan, which means more treasury bills will be released than ever before; Berlusconi died, and Italian politics is likely to shift; Kyiv has started the counter-offensive, will it end the war? Nobody knows; One of the first damage trials has started against the BioNTech vaccine, more to come?1. Main Hospitality NewsCore news related to the industryDeath of brand as we know itA pretty interesting opinion piece has been released about what it means to have a distinctive brand in hospitality. In short, 2 ways, personality & hybrid brands. Personality brands are designed to attract specific groups of people with one single goal. Make the service concept for them to relate to, allowing higher ADRs and stronger brand recognition. 2nd are hybrid brands. Concepts like “The Student Hotel” (now known as The Social Hub). Not only offering heads in beds, a coworking space, an F&B concept, and so on. Basically diversifying your offering inside the building to cover the needs of a multitude of groups. But most importantly to advertise it as such. As the author put it “everyday product” to cover the needs of its guests 365 days a year. For a more detailed read go here.Next big hype, Vision Pro, for hospitality too?You might have heard of the new revolutionary Apple AR headset being released (release trailer here). Arguably the best VR/AR headset released so far. If any headset will change the computing industry, it is this one, but what about hospitality? Well apparently no, at least not yet. Why? Neck pains and discomfort in wearing them. At least according to the article!Expedia is catching up with booking.comDepending on where you live you will likely use booking or Expedia as your main OTA. As well as several subbrands that do not call themselves either, but belong to them. Up until recently, booking.com was by far the more profitable OTA. This might change. Why? Booking wasn’t previously as present in the US, where commissions on air travel are lower. Booking previously gained market share through lower commissions (both might adjust their commission % and equalize). Finally, while Expedia has been cutting its costs, booking is planning to expand to the US (which means higher investment costs). One can certainly poke some holes in the argumentation, nonetheless, it is still worth considering. End result, Expedia will likely reach a 23% profit margin by 2025 & Booking’s EBITDA might decrease.China is still not recovered (apparently)While domestic tourism has almost fully recovered, foreign tourism not so much. April 2023 the volume was 25% of 2019 levels. The flight capacity as well is forecasted to grow by EOY to 80% and only 50% this summer. Might be time to look for other markets? (Source)Germany forced lobbyists to registerThe German government has forced mandatory registration of any political lobbying organizations that spend money of pushing their agenda politically, including our wonderful sector. Relatively speaking to insurance, hospitality is like a small lemonade stand vs a food factory. But fear now, there are quite a few organizations spending money elsewhere, like data analysis, marketing etc. An interesting data pool that shows what might be impacting German politics. (Source in German, translate using deepl.com)2. ExternalitiesEconimics, finance, geopolitics. All have an impact on the hospitality sector.Peace in the Middle East, more tourists for investorsAbraham accords, ever heard of them? It's the first agreement of its kind (for a long while), uniting 3 countries: Israel, United Arab Emirates & Bahrain. An agreement, that will likely bring countries of the middle east together that were previously sworn enemies. What does it mean for our sector? Peace → More trade → More tourists → More money! Lucky for you HVS, a leading hospitality consulting firm has released a report on the exact opportunities this accord might bring. Download the full report here.Is employee loyalty, a thing of the past?An interesting array of studies combined by the economist delves into loyalty in 2023. In short, loyalty is dying or at least needs to be revisited by society as a whole. In short, loyalty at a workplace is not emotional (like for a family member) it is transactional. This makes it very difficult for people & companies to fool themselves into believing something else. If loyalty is built it becomes irrational like patriotism or even a cult. Hence, loyalty to companies, studies showed, isn’t beneficial for the whole society, since people are less willing to release damaging information3. AcademiaScientific papers related to the topics above. For those who want to know for sure ;)Does Tech actually decrease employment in hospitality?With all the tech of self-check-in & automation in the industry what is the actual net effect on employment? Will the sector need more or less staff in the future? According to this recent study from China (that reviewed over 30 regions across the country), due to the increase in quality of “product” (hotel services) offered employment quantity is indeed going up, while due to the tech progress, it is going down as well. As a result, both trends are equaling each other. Creating an interesting new question in the end, who will win?4. ReadablesBooks, podcasts & the big stuff.In the spirit of this year’s biggest trend, ChatGPT and AI we thought to recommend the “Scary Smart” book. Written by one of the world’s leading AI specialists, it wants of the dangers that might come if AI development is not done right. As always here is a quick summary of the book for those with limited time.5. Tips & Tricks Tools & SaaSAny new software you can use? Industry tricks you missed?How does one increase profitability? A recent article calling for “total” profitability goes into 6 strategies on how to do that. Diversify incomes, target guests with higher total guest value, actually run a channel strategy, promote loyalty with guests, and look at costs and not only revenue. More in detail here.Heard of the guest journey? Great. Apparently, there is a big weak spot in the hospitality sector when it comes to guest journeys. It is, of course, payments! Want to learn more, check out the link. Keep in mind the article is interviewing the head of payments in hospitality for Adyen an actual payment provider (bias might be present). Get full access to Le Portee - Hospitality News at www.leportee.com/subscribe

TLDR: To Long Didn’t ReadThis week's hospitality news includes hotel CEOs being happy with record ADRs and occupancies despite the new financial crisis, EU hoteliers being cautiously optimistic, and Latin America's overall recovery. Externalities impacting the hospitality sector include Brazil's deforestation project and Erdogan's new finance minister. The OECD has raised its forecast for global economic growth, and business leaders are revisiting China. Tips and tricks include travel marketing and making hotels stand out.1. Main Hospitality NewsCore news related to the industryTravel CEOs are optimisticThe new financial crisis is stopping hotel openings, but it isn’t stopping hotel guests. With an average 2.5% growth in inventory down to 0.4% CEOs of various hotel companies are “happy” with record ADRs and occupancies and record low competition. Exciting if you believe that the financial crisis won’t show its ugly side. This positive sentiment is supported by Sebastien Bazin’s statements unravelled in a Skift podcast summarized here.Hoteliers thinking about their futureEconomics aside what do hoteliers think of their future? Specifically regular private hotel owners were asked that very set of questions and the results aren’t that surprising. EU hoteliers are “cautiously optimistic”. The main challenges are high energy costs, recruitment, retention and of course tricky economic conditions. Social media was the way to grow according to 31% of hoteliers (article on how to in “tips & tricks” & minimizing costs was the main goal across the board.Latin America's performance in travelEU & US are doing great, but what about the rest of the world? As seen in the last week’s post, 3rd world is recovering slower than 1st. Nonetheless, what about Latin America? Each country is doing overall well. Recovery is happening across the board, however, the reason why 3rd world is 3rd world is unfortunately still there. Political uncertainty in countries like Peru. Chile was impacted the most, apparently also due to a presidential election which decreased hotel demand. Nonetheless, all things end well and recovery is seen across the board. Life continues.2. ExternalitiesEconimics, finance, geopolitics. All have an impact on the hospitality sector.Brazil wants to cut forests to build roadsBrazil has decided to organize a major deforestation project to build a road through the whole of Amazon down to their neighbours Bolivia & Peru. This is causing a slight backlash amongst the Western media and locals as well. Indigenous people are even calling for genocide. This is similar to the project we saw in Peru, where a new railway was supposed to be built, which in turn caused outrage. Easy to sit on a high horse in the developed world and complain every time a poor country tries to build a road crucial for its future growth.Erdogan is playing a new SimCity saveErdogan has been elected and if you followed last week’s news, that meant according to our sources the end of hope for Turkey to join the developed world of democracies. Yet the current appointment of the finance minister shows that even authoritarian states can change (as long as the leader decides to do so). Basically, a new, more sustainable economic strategy will likely be taken by the new office, where endless borrowing won’t be an option anymore and a more sustainable spending strategy will be implemented. As always time will show, how that would turn out for the rest of the country.OECD forecast growthAnother week, another forecast. This time OECD. The Organization for Economic Co-operation and Development (OECD) has provided a slightly more optimistic outlook for global economic growth, raising its forecast to 2.7% from 2.6%. The recovery is attributed to factors such as lower energy prices, improved supply chain conditions, and China's earlier reopening. However, challenges persist with higher interest rates and ongoing inflation, which may require further rate hikes by central banks. The OECD warns of remaining risks, including uncertainty surrounding Russia's aggression against Ukraine and potential changes in energy demand. Factors impacting the forecast all are an effect of whatever is going on in the world, not the cause.Elon Musk and road trip to ChinaWorld business leaders are revisiting China. Elon Musk as well apparently. Why is this interesting? Well, they are doing it in “secret”. No PR announcements, campaigns or tweets from the CEO of Twitter. Why are they visiting? Business is booming again in China, money is flowing. Overall, western business wants to understand what are the rules of the game now and what to expect, hence the meeting with exclusive government officials.3. AcademiaScientific papers related to the topics above. For those who want to know for sure ;)Big Data in Hospitality (A Meta-study)Imagine analysing 295 scientific articles on big data in the hospitality industry & then summarizing the findings. Well, you do not have to, since it has been recently done here. Unfortunately, the paper is behind a paywall, nonetheless, the abstract goes into proposals of what can be done in hospitality and how to train those who can do it.4. ReadablesBooks, podcasts & the big stuff.What to start a small business in the hospitality sector? Try out “The E Myth”. A book that goes into the basics of running a business at its core, including automating processes and extracting learnings from your team to avoid micromanagement.5. Tips & Tricks Tools & SaaSAny new software you can use? Industry tricks you missed?What is the next big thing in travel marketing? The fight between advertisers & influencers of course. To find out more on how to get the attention of your potential guests, check out this article here.How to make your hotel stand out? A recent article by hotel speak examines 5 examples of hotels in Romania here. In a nutshell, niche experience offerings like rural luxury tourism or an aristocrat-like stay.Skift pulled a marketing stunt by offering short-term rental operators 5 things that they definitely need in their business. Turn out it's 2 summits organized by Skift, 2 reports & regular newsletter. Fair enough. Feel free to proceed here. Get full access to Le Portee - Hospitality News at www.leportee.com/subscribe

TLDR: To Long Didn’t ReadThis week's hospitality news includes AO Hostels' approach to sustainability by repurposing existing buildings, cost-conscious travellers opting for alternative accommodations, and positive travel forecasts. Other news includes Booking.com's potential antitrust warning, Wyndham's stock impact on management, and global events such as Turkey's elections and Russia's military effectiveness. Academia highlights the importance of creativity in hospitality businesses, while tips and tricks cover ChatGPT for hotels and a chart of hotel distribution technology.1. Main Hospitality NewsCore news related to the industryThe A&O ApproachA&O Hostels a European hostel chain that provides budget accommodations is presenting its “innovative approach to transforming "dirty and ugly" buildings into sustainable accommodations.* AO Hostels is a European hostel chain that aims to convert existing buildings, such as former office spaces or factories, into eco-friendly hostels fitting the ESG requirements.* By repurposing existing structures, AO Hostels aims to reduce waste and set ambitious sustainability targets, aiming to achieve carbon neutrality and zero waste across its properties.* AO Hostels' concept represents a growing trend in the hospitality industry, where companies are increasingly focusing on sustainability and repurposing existing structures rather than building from scratch.More hereSurging hotel rates have prompted cost-conscious travellers to seek creative solutions to reduce their lodging expenses.Travellers are increasingly opting for alternative accommodations like hostels, vacation rentals, and short-term apartment rentals as more affordable options compared to traditional hotels.Digital platforms and online marketplaces have facilitated the discovery and booking of these alternative accommodations, providing travellers with a wider range of choices at lower prices. Additionally, strategies such as choosing accommodations in less expensive neighbourhoods, taking advantage of loyalty programs, and incorporating work or leisure activities into trips are being embraced by travellers as ways to offset lodging costs and make their travel budgets more manageable. Read more on Skift.Travel forecasts are positive again (for now)What will happen with hospitality this year? To answer that question objectively one would have to consider countless variables, some of which nobody knows the future of and some that we do not even know exist. We saw data in the past weeks and months indicating growth in some areas (OTA bookings) and a slower recovery in others (like business travel). https://www.hospitalitynet.org/news/4116573.html#:~:text=CBRE is again raising its,%240.43 from its previous forecast.. Based on lower growth in new hotel investments & thus higher occupancies for existing inventory. As well as overall economic growth & comeback of business travel. Another day another forecast.Booking.com is about to be slapped on the wrist by EU AntitrustBooking.com is trying to acquire Etraveli Group for over 1.63 billion. As if it does not already have enough control over the market. Fear not, for the EU antitrust agency is likely to issue a warning to booking.com for doing so (according to sources from reuters). Such a warning is not a stop to the transaction yet but requires booking to take “some actions”. For those who don’t know, Etraveli owns sites like my trip and TripStack.Hospitality companies are not much different from the restA lot of us have heard how stock markets can influence corporate decisions. Starting with short-term profit incentives for executives to perform instead of investing in the next 20-30 years. But what does it look like for hospitality companies? This week a rumour surfaced that Wyndham might be taken over by Choice Hotels. Result? A rapid spike in stock prices for Wyndham from 66 USD to 71. The group has denied such a takeover happening, yet now the question resides if the executives of the company might reconsider and indeed merge with Choice Hotels, since that is what investors obviously want. Time will tell!2. ExternalitiesEconimics, finance, geopolitics. All have an impact on the hospitality sector.Social Progress Index and which people are well provided for?A recent article by the economist explains a relatively new index, ranking countries by the well-being of their people. Switzerland is number 1, while the US is not even in the top ton. Another interesting finding is that GDP growth over the last 3 decades was not necessarily connected to the SPI index (Social Progress Index). China had an 11x growth in GDP, while it only increased its SPI by 45%. The overall growth trend in the 80s is much slower than that of today. In some continents, it has mostly stopped (Latin America), while in others it has gone down (US)To Erdogan or not Erdogan, that is the questionTurkey elections are not the most interesting topic for people who aren’t from there. Yet it's one of the top developing countries that act as major logistics, production & tourism hub for Europe and beyond. What is the future of this country? Well, one can argue that the elections on the 28th of May will decide that. An arguably authoritarian leader Erdogan has for the first time been forced into a second round of elections and can theoretically lose after 20 years of rule! Data however shows otherwise. On Monday we will either wake up with a new state that might be ready to join the club of democratic countries and freedoms that come with it for its people or join the sad long list of one dude rules it-all states.Russia the giant conglomerate & Ukraine the lean startupThink of how scary the Russian military seemed a few years ago. The biggest country in the world with the most resources, limitless weapons stored and of course nukes. Like a big company chain (if you will). Turns out it's rather immobile and slow to react military force cannot even take a little neighbour Ukraine. A recent study also showed that its countless rocket attacks are actually not as effective. Why? Like any centralized force, it takes Russian forces almost 48 hours to make a decision. Say a target is identified, this information flows to Moscow, to high command and then back with orders. By then Ukraine has already moved its forces. Self-organization is therefore a far more superior approach even in war. Where decisions can be made quickly and often with much more accurate and thus better-informed decisions. Be like Ukraine folks and let your teams make your own decisions because the alternative is Putin.Deadlines and how the US government is speed learning for its final examRemember the news from the past few weeks on the US defaulting? Well, apparently a deal has almost been reached. Deadlines are a perfect way to increase productivity. So have Democrats and Republicans learned in the past few weeks, trying to agree on almost every fiscal policy for the next 10 years. Let's if they get an A+ or a C-, given that a preliminary agreement has been reached!The world innovates, North Korea builds a wall!While some countries have spent revisiting their tourism strategy and sources of economic growth during the pandemic, North Korea has built a wall. One that spans from its Chinese border down to the Russian coast. Next time you complain about the wrong policy your elected officials are trying to implement, at least they didn’t build a wall for you to stay in the country forever.3. AcademiaScientific papers related to the topics above. For those who want to know for sure ;)Creativity helps solve admin issues & makes people more flexibleWhat matters in hospitality for a business to be successful? Apparently creativity! A recent study showed that the high level of creativity of hospitality employees allowed businesses not only to come up with cool and hip ideas but also helped to solve administrative problems in the organization, adaptation and flexibility to changes. Subsequently increasing the level of competitiveness of the hospitality establishments. Next time you hire an employee, check how creative they are!4. ReadablesBooks, podcasts & the big stuff.Given our latest recommendations on looking closer into the experience economy, here is another great add-on called Designing Experiences, by Rossman J. A book that goes into the actual execution of experiences in a variety of scenarios.5. Tips & Tricks Tools & SaaSAny new software you can use? Industry tricks you missed?ChatGPT in hotels (how to guide)ChatGPT is now a more or less established tool that one can use for free (for now) and increase one’s efficiency by at least 10% (not a bad bargain). But how can I apply it in hospitality? Easy! Here is a set of expert opinions on how to do it.All hotel distribution tech there is in one graphStruggling to understand what software & technology is out there that can benefit your hotel business? Well a more recent chart by snapshot, has recently been released listing PMS, distribution tools, booking channels and marketing tools. Take a look here if you want to understand more closely what can be used in day-to-day operations. Get full access to Le Portee - Hospitality News at www.leportee.com/subscribe

TLDR: To Long Didn’t ReadThe emerging $300 billion workforce travel market is seeing brands like Marriott and Hilton invest in extended stay options, while the hotel transaction industry is experiencing changes in operators due to rent arrears and slow developments. Egypt is focusing on medical tourism, while Accor's CEO suggests designing hotels for locals to diversify visitor groups. Externalities include rising producer prices in Germany, global competition for payment providers, and China's grand plan for Central Asia's development. Tips and tricks include a recent study on guest perception of online and self-checking in hotels.1. Main Hospitality NewsCore news related to the industryEveryone wants in on the extended stay game.'Long-Stay-Condos', 'Serviced Apartments' and 'Aparthotels' are the new asset classes covering the emerging $300 billion workforce travel market.Brands like Marriott's 32nd and its 5 other extended stay brands, H3 by Hilton, Staybridge, and Limehome are some new directions in hospitality for the following reasons and more you can find here on Skift.* Work-life balance through digitalization. When working away from home, you want good internet, a desk, and a kitchen to make a snack.* Investment landscape. Construction and material prices have increased, and investors look to hedge their risk. By building apart-hotels, they can also lease them out long-term.* Hotels fill revenue gaps. Before, Sunday nights were empty. Now, staycations start on Sunday, and key companies look for long-stay options to gather their international teams for offsites.Fewer transactions but many operator changesThe projections for the hotel transaction industry were mixed, some kept faith others were Grimm. (C&W) recorded a total hotel transaction volume of EUR 200 million in Germany. This was 56 per cent below the previous year's figure and around 70 per cent below the 10-year average. EY thinks the industry will be robust, read here.The mood at IHIF Berlin last week clearly showed operators are changing due to rent arrears where owners have the chance to terminate the contract, some do. While transactions, especially developments are slow due to the market conditions. Some more info here in German.Egypt focuses on Medical TourismIn 2022, Egypt was 26th on the Medical Tourism Index. Leading are Canada, Singapore and Japan. But Egypt is determined to climb the ladder with favourable natural conditions such as a suitable climate, mineral water springs, sulfur water baths, mud, and hot sand.Treatments and labour are still affordable. Many people choose Egypt for recovery and wellness, but also for hair transplants, bypass surgery or hip replacements. The Egyptian Government allows these medical tourism companies to offer health insurance plans that remain valid for the duration of the stay.30% of the people in Egypt work in the tourism sector, they have skilled medical staff and are this way able to diversify their visitor group.Get locals to visit your business (according to Accor CEO)The CEO of Accor is at it again. During the latest IHIF convention in Berlin, he went into detail about how local guests (aka people from the area) are key in how several hotels have survived the pandemic. Local guests spend their money on deciding to visit (with a recommended revenue margin of 60%). This is an easy thing to say when you are fresh out of covid period, yet something that several travel businesses were effectively trying to fight off by diversifying their guest portfolio. One cannot predict the next crisis, but one can always rely on trying to not put your egg into one basket.The Star Wars hotel is closing 😟Sad news for some of us. The Star Wars hotel, operated by Disney is due to close as part of the general cost-cutting plan going ahead in the next few years. In simple terms, it was simply too expensive and thus too costly for the visitors. In economic turmoil, luxury for the middle class usually goes first.2. ExternalitiesEconimics, finance, geopolitics. All have an impact on the hospitality sector.Inflation is down, and costs for goods are up (or are they?)Producer prices in Germany have risen, even though inflation has dropped. A peculiar trend that however is indicating once again that all things economics are not so simple. The working theory of the article is that cost increases in production are a result of delayed inflation effects. A trend that is widely observed across several countries, is however in the grand scheme of things still a downward trend. Meaning prices were at peak around December 2022, yet are now dropping. Hence, as a restaurant owner or hotel operator, one can likely wish for a continued downward trend in basic costs of business (likely).Global payment providers are receiving competitionStruggling with payment providers taking their fees? Well, the good news a global competition for market leadership is coming or indeed already happening. With Chinese and Indian providers coming to the European and Western markets to compete. Perhaps a good piece of news that can decrease processing fees for the rest of us in the long run.China is swooping up Russian territory of influencePresident Xi Jinping of China has revealed his grand plan for Central Asia's development, and it's like a blockbuster movie! Get ready for "Xi and the Central Asian Adventure!" With flashy infrastructure and turbo-charged trade, China is taking on a region that used to be Russia's playground. While Russia is busy with its Ukrainian drama and the US is packing up from Afghanistan, China is swooping in with its charm offensive. They're offering alternative routes for fuel, food, and who knows what else! It's like a game of Monopoly, and China just bought all the best properties. Plus, they're promising tons of financing and grants, as if they're the Oprah of Central Asia. So buckle up, folks, because China is bringing the popcorn, the action, and a whole lot of yuan! Why should I care you ask? Depends if you want to live in a Chinese colony or not of course.3. AcademiaScientific papers related to the topics above. For those who want to know for sure ;)Why medical tourism?Why do people embark on Medical tourism? A study is luckily available for us to take a closer look at. 1. Low costs, 2. Avoid Waiting lists, 3. The procedure is not available at the home country 4. Actual Tourism 5. Privacy. The list is ordered by priority in the eyes of the aforementioned tourists. For more details check out the study here.4. ReadablesBooks, podcasts & the big stuff.Want to know the tricks Apple, Facebook and TikTok use to make you use their platforms more? Here is a great book explaining just that - Hooked by Nir Eyal. Summary for those with little time available here.Written by the same author, here (in our opinion) is the best book on how to fight procrastination, be more focused and actually do the things you want to do, without falling into 6 hours of Instagram checking. Summary here.5. Tips & Tricks Tools & SaaSAny new software you can use? Industry tricks you missed?Experience Market and Status QuoExperience market is a famous buzzword that we have looked into in the previous posts, however, what is there to know about it currently? A recent study by PhocusWire goes into detail.Online Check-In and why now?A recent study of guest perception and hotel owners on online & self-checking has recently been released here. Conclusion? More and more hotels are starting to offer such services. Hence, it is becoming an expected offer in the industry. Hence, while you likely won’t stand out anymore as a self-check-in hotel, you can still automate your operations, saves costs and guests will not be frighted of it. Get full access to Le Portee - Hospitality News at www.leportee.com/subscribe

TLDR: To Long Didn’t ReadThis week's hospitality news includes a hotel's experiment with a 4-day workweek, GDS's slower recovery compared to OTAs, and Airbnb's focus on budget offerings to attract Gen Z. Externalities discussed include the potential impact of AI on search engine monopolies and the possibility of a US debt default. A scientific study compares what Airbnb guests value versus what hotel guests value. Tips and tricks include 10 ways to cut costs and improve hotel bottom lines and a recommendation list of books to become a cocktails specialist.1. Main Hospitality NewsCore news related to the industryPros and Cons of a 4-Day Working Week at HotelsA 4-day workweek means working 36 hours over 4 days, with an additional 4 hours available for overtime. At Hamburg's 25hour hotel, 80% of employees chose this new model.After one year, the Vice President of People drew the following conclusions: Read the article in German here.Pros:* More job applications, especially for kitchen and waiting staff who are in high demand.* Happier employees give positive feedback, improving the guest experience.Cons:* Sick leaves can cause immediate understaffing.* Only applies to full-time staff, causing resentment among trainees and working students.Global distribution systems (GDS) are recovering slower than expected.GDS is an online platform where companies and travel agents can book generally cheaper flight fares and hotel stays than the B2C client in order to make packages or buy in bulk. The Spanish GDS, Amadeus, shares strong numbers in Q1 due to the full recovery of the Asian travel market and the lifting of travel restrictions. However, GDS has recovered slower than OTAs as business travel, conventions, and long air travel have picked up later than leisure trips. More details are in the Skift article.Airbnb's lowest-priced listings receive the most engagement.To attract Gen Z travellers in the future, Airbnb CEO Brian Chesky is focusing on two things: lower rates and an improved booking experience.To cater to the demand for affordable travel, they introduced a product called Airbnb Rooms. This product spotlights stay in people's homes, which cost an average of US$67 per night instead of US$168 for an entire apartment.In regards to the booking experience, they decided against implementing a planned Chatbot, as Gen Z demands interfaces that are multimodal, meaning rich in photos and video. This approach creates a much more immersive experience.2. ExternalitiesEconimics, finance, geopolitics. All have an impact on the hospitality sector.Will AI tools be open source or just another monopoly?The new hope for internet libertarians is apparently AI. Google is worried according to their new memo. Google has underestimated how quickly AI might progress and it might cost them their search engine monopoly. Or will it? That is the big question. AI search can be the next big thing and if it is controlled by an array of open-source companies competing against each other or turning into a quasi-like monopoly will impact the rest of us in a major way. Unfortunately, Juri isn’t out yet and only time will tell. Google being worried though is already positive though.The default of the US (in short)A default of Unites States Debt might happen. An event that can impact most of us. What is there to know? First, technically it has never happened before but came close 4 times in US history. The biggest concern in the market is US's inability to pay down its debts. If it does, it only means that the US will stop issuing more debt and will still actually pay its interest on existing debt. Most of the debt is actually internal (and countries like Russia and China have been decreasing their US share Bonds, etc.). Debt issued is all in US dollars and as plan B they can just print more of the very currency they own to others. Compared to other countries US's total cost of servicing this debt is lower than most other Western countries. The actual fuzz lies in politics, one party not wanting to decrease the allowed debt ceiling, the other satisfied with the current amount. For more here.Where to keep the money?Where to keep the money, given the current financial turmoil or in other words how to invest? Make sure your bank has a high amount of deposits (still), likely the case for several local banks. Look into banks’ % of loans invested in commercial real estate (the riskiest type at this point) and avoid those. Or just join a major bank like JPMorgan and ride on the too-big-to-fail train.3. AcademiaScientific papers related to the topics above. For those who want to know for sure ;)Airbnb guests vs Hotel Guests. What makes them happy?In the spirit of this week’s news, a study that was published just this week has finally looked into what Airbnb guests value vs what hotel guest value. At its core while the list of items that impact guest satisfaction is more or less the same, the priority of these items is different. In short, Airbnb guests value proximity to attractions and recommendations are important, hotel guests care more about the facilities offered and staff professionalism. One can say Airbnb bookers want to go out and explore and hotel guests lean more towards relaxing in the guest pool.4. ReadablesBooks, podcasts & the big stuff.Everyone likes a chance to meet key decision-makers in the hospitality industry. Smack podcast holds intimate interviews with hospitality leaders, have an ear full here.5. Tips & Tricks Tools & SaaSAny new software you can use? Industry tricks you missed?Cutting costs or improving your hotel bottom line. How?In the age of inflation, cutting costs is becoming crucial. Here is a good take on the top 10 methods on how to do it. Here they are:* Invest in the Right Tech Stack* Reinvent your Marketing Strategy* Making Full Use of Your Hotel´s Floor Space* Reduce Food Waste and Improve Sustainability* Leverage Outsourcing and Automation* Reduce Energy Consumption* Optimize Inventory Management* Improve Staff Retention and Productivity* Streamline Housekeeping Operations* Conduct Regular Cost Audits and AnalysisHow to Become a cocktails specialistOne of the most iconic experiences in the service industry is cocktails. A lucid art that often seems too complicated to master. Apparently not, or at least not impossible. Here is a recommendation list of 3 books that can help you understand the craft. Get full access to Le Portee - Hospitality News at www.leportee.com/subscribe

* IHG CEO Resigns: A Look at His 5-Year Impact on the 4th Largest Hotel Chain* Marriott's Latest Brand Acquisition: City Express and Its Potential in Mexico* In-Person Conferences Preferred Over Virtual for Content and Networking: HVS Survey* AI and Job Security: The Data Suggests the Hype is Overblown* Childcare Shortages in Germany: A Symptom of a Collapsing Demographic Situation* Patient Experience Correlates with Profitability in Healthcare IndustryFor sources: bit.ly/40Xam6iTo get the newsletter 2 days before the podcast, subscribe here: bit.ly/3LpnGMc Get full access to Le Portee - Hospitality News at www.leportee.com/subscribe

On the podcast this week:Hospitality is expected to replace offices as over 30-40% of offices are due to be closed, freeing up a lot of commercial real estate; India has announced 50 new destinations for tourism development; Development of a direct train network in the Yucatan Peninsula in Mexico has caused debate due to environmental concerns; Bob W is a new hotel chain on the rise, growing by buying up other smaller chains; Inflation in Europe is connected to the Ukrainian war and rising costs of energy and basic supplies, which the European Central Bank is struggling to solve; A study shows that hospitality professionals tend to stay put in their jobs when turnover rates in other industries rise.For sources: bit.ly/40Xam6iTo get the newsletter 2 days before the podcast, subscribe here: bit.ly/3LpnGMc Get full access to Le Portee - Hospitality News at www.leportee.com/subscribe

In this week’s Podcast, we talk about a wide range of topics that happened last week. India becoming the new economic world power and how that might impact hospitality. The moral question of opening a luxury hotel in an ex-Mussolini torture prison. Why does InterContinental want to start trading its stock in New York instead of London and many more!This week’s newsletter & Sources → https://bit.ly/3UYdugRSubscribe for upcoming podcasts & newsletter → https://bit.ly/3LpnGMc Get full access to Le Portee - Hospitality News at www.leportee.com/subscribe

In this week’s podcast, we touch on several sustainability topics. While hospitality is reporting more on ESG data, the rest of the world is taking more sustainable decisions that are likely financially grounded. Toyota is changing its long-term strategy; Saudi Arabia seems to be the beacon of hospitality investment; people have used 16% less energy this year; and many more.To get notified 1 day before the podcast release, subscribe at https://leportee.substack.com/For all the sources used in this podcast check out this weeks newsletter at: https://leportee.substack.com/p/how-to-grow-sustainbly-or-at-least Get full access to Le Portee - Hospitality News at www.leportee.com/subscribe

In this weeks podcast we explore what happened in week 13 of this year. Focusing mainly on the service industry experts expectating demand to grow, while the rest of the economy is in crisis. Sustainability is once again a hot topic this week and we have a quick discussion as to if people actually make decisions based on eco friendliness or they just want to save money. From the world of global news we have also observed China & US taking trade war to the next level. A likely long term change that will impact the rest of the world.On this and more topics in this week’s podcast. Get full access to Le Portee - Hospitality News at www.leportee.com/subscribe