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Hospitality insolvencies have surged by over 40 percent between December 2023 and December 2024, according to a new report from Equifax. The Equifax Quarterly Commercial Insights – December 2024 report found that the sector has also seen a spike in auto loan arrears rates, up 43 per cent since December 2023.
Here’s a look at some of the key findings so you can reflect on 2024 and prepare for maximum growth in 2025. percent in 2024 and added 210,300 jobs, a standout category led the pack. Despite ongoing challenges in 2024, 67 percent of restaurant managers are optimistic about what 2025 holds for the industry.
Best Bartender Alicia Clarke, Double Deuce Lounge Andie Bulley, The Waratah Best Publican Blair Hayden, The Lord Nelson Brewery Hotel Peter Hollands, The Alliance Hotel Best Bar Caretaker’s Cottage, Melbourne Double Deuce Lounge, Sydney Best Hotel The Old Fitzroy Hotel, Woolloomooloo The Oaks Hotel, Neutral Bay Best Bar Group Operator Applejack Hospitality (..)
By embracing these innovative promotion ideas in 2024, hotels can differentiate themselves, attract new guests, and foster loyalty among existing clientele.
In 2024, as a globally leading cloud-based hospitality technology solutions provider, we have solidified our position as a forerunner in the domain. In 2024, we made remarkable progress in empowering hotels to excel in a fiercely competitive environment, revolutionizing how they operate efficiently to drive overall growth.
As we wrap up 2024, it’s time to reflect on the blog posts that resonated most with our audience this year. 7 Trending Revenue Streams for Your Hotel in 2024 Looking to the future, this blog showcased innovative ways for hotels to diversify their revenue streams, making it a favorite among forward-thinking hoteliers.
Australia Top 10 Online Channels 2024 – Australia India Top 10 Online Channels 2024 – India Indonesia Top 10 Online Channels 2024 – Indonesia Malaysia Top 10 Online Channels – Malaysia Middle East Top 10 Online Channels 2024 – Middle East New Zealand Top 10 Online Channels 2024 – New Zealand Philippines Top 10 Online (..)
Recognizing the need to adapt and diversify, forward-thinking hoteliers are exploring new avenues to bolster their bottom line and enhance guest experiences in 2024.
📆 September 18th, 2024 at 9:30 AM PDT, 12:30 PM EDT, 5:30 PM BST Continuously assess market trends, customer behavior, and competitor strategies to make informed pricing decisions that drive business success. Don't miss this brand new webinar! Save your seat today!
Following the close of the 2024 Black Friday season, The Hotels Network (THN) has conducted an in-depth analysis to uncover how this pivotal period influenced direct bookings, celebrating standout successes and uncovering key lessons for the future.
Jutharat Pinyodoonyachet/Eater NY Raise a glass to the year’s best bars, restaurants, pop-ups, and roving trucks across 20 Eater cities What does 2024 taste like? Carnitas Ramirez in Alphabet City received an award from Eater NY for Best Counter-Service Spot.
during the week ending 14 December 2024. hotel industry revenue per available room (RevPAR) rose a whopping 18.2% This was the highest weekly RevPAR gain since February 2023 (excluding a recent week that was skewed by the Thanksgiving calendar shift). The strong performance was seen across the industry, driven largely by an 8.9%
As we approach 2024, it’s evident that the industry is on the cusp of significant transformation. The hospitality industry has always been at the forefront of adapting to changing trends and customer preferences. Here's how to stay ahead.
Speaker: Hilary Akhaabi, PhD - Founder, Chief Financial & Operations Officer at Go Africa Global
📆 August 20th, 2024 at 9:30 AM PDT, 12:30 PM EDT, 5:30 PM BST Don't miss this opportunity to transform your approach to revenue optimization and take your financial leadership to the next level. Register now to secure your spot!
South Australian wine producers are experiencing a boom with exports to China surpassing previous records in the year to November 2024, according to the latest Australian Bureau of Statistics (ABS) figures. million litres of wine, valued at over $93 million, to China in November 2024 alone. South Australian winemakers sold 11.8
The Malaysian hotel industry continues to evolve in November 2024 with key updates. Here's a look at what's happening in the Malaysian hotel sector this month.
As 2024 comes to a close, were excited to look back at the stories that resonated most with our readers on Hospitality Net this year. From thought-provoking opinion pieces to key industry insights, these articles captured the attention of hospitality professionals worldwide.
The freshly renovated and relaunched Tropicana Los Cabos will open its doors this August 2024 in San Jose del Cabo. Nestled in the heart of this charming ar.
Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success.
2024 marks a tipping point for the hospitality industry - it’s the year in which we witnessed a pivotal transformation where data has all but surpassed even dollars as the primary currency. It empowers informed decision-making, elevates operational efficiency, and guides budget plans.
The 2024-25 ski season is approaching, and with a weaker La Niña pattern expected, ski resorts and hotels near the slopes are in for an unpredictable winter. Read the full article at gcommerce The post Hotel Digital Marketing Tips to Prepare for 2024-25 Ski Season appeared first on Revenue Hub.
hotel forecast revision of 2024. For 2024, projected gains in average daily rate (ADR) and revenue per available room (RevPAR) were each downgraded, -0.5 Hotel Forecast in Final Revision of 2024 appeared first on LODGING Magazine. NASHVILLE—STR and Tourism Economics downgraded the growth rate in the final U.S. ppts to +1.4
ATLANTA—Hospitality Ventures Management Group announced that the company added eight new hotels to its portfolio in 2024, bringing the total number of properties it holds to 51. 2024 was an outstanding year for HVMG, adding nearly 1,200 new rooms to our nationwide portfolio,” said Robert Cole, president and CEO, HVMG.
Payroll compliance is a cornerstone of business success, yet for small and midsize businesses, it’s becoming increasingly challenging to navigate the ever-evolving landscape of federal, state, and local regulations.
reported its fourth quarter and full year 2024 results. MCLEAN, VirginiaHilton Worldwide Holdings Inc. Highlights include: Overview Christopher J. Nassetta, president and CEO of Hilton, said, “We are pleased to report a strong fourth quarter, with both top and bottom line results exceeding our expectations.
In 2024, with rising guest expectations and evolving industry standards, maintaining a welcoming environment is becoming more critical than ever. Housekeeping is one of the backbones of any successful hotel operation.
STAAH SwiftBook , the booking engine connected to hotel websites has made the highest climb in the top channels list for 2024, up two spots to number four. While OTAs will remain a significant channel at least in the near term, lower cost direct bookings via the hotel website are gradually increasing in share.
Expert Market’s 2024 industry report, sponsored by Toast, is informed by a survey of 522 U.S. restaurant sector forward in 2024. food and beverage professionals, from restaurant owners to food service managers, providing insights into the real-time challenges and opportunities within the industry.
SiteMinder, the world’s leading hotel distribution and revenue platform, unveiled the winners of the 2024 SiteMinder Partner Awards during a ceremony at WTM London, recognising businesses across five continents that have successfully simplified an increasingly-complex landscape for hoteliers.
As the hospitality industry continues to evolve, understanding guest behaviors, particularly in how they express gratitude, is crucial for enhancing service […] The post Shiny Releases Second Annual 2024 State of Tipping Report to Highlight Trends appeared first on LODGING Magazine.
The post Australia’s best wine lists of 2024 announced appeared first on hospitality | Magazine. “Never has the scene been more vibrant with a wide range of choices facing consumers; better-educated sommeliers and waiting staff, more thoughtfully curated lists, or more carefully assembled cellars. The full list of winners is available here.
percent for the full year 2024, and over 577,000 rooms in the companys development pipeline at year-end. Marriott International, Inc. announced a year of global growth, with a record 123,000 gross rooms openings, net rooms growth of 6.8 Marriott continued to expand its product offerings across travel purposes and segments.
Luxury resort Four Seasons Resort Punta Mita is proud to announce that its signature on-property restaurant, Dos Catrinas, has been honored for its outstanding wine program as part of the Wine Spectator’s 2024 Restaurant Awards, which represents the world’s only awards program focused exclusively on restaurant wine service.
2024 was another bustling year for the hospitality industry. As we close for the year, we thought wed briefly look back and celebrate the incredible strides hotels and technology leaders made.
2024 was a year of experimentation with AI, with restaurants testing it on customer-facing interactions, like AI drive-thru ordering, with varying degrees of success. In 2024, food prices have been high and consumer spending has been stretched thin, making it even more difficult for restaurants to attract new customers.
Mark Zuckerberg's 2023 "Year of Efficiency" ethos extends into 2024, with leaders seeking cost reductions without stunting growth. Global economies are reeling from recent upheavals—pandemic aftershocks, geopolitical conflicts, and a tech sector crunch. No-code technology emerges as a beacon of hope, fostering resilience and adaptability.
In recent years, the emergence of ‘wellness’ – a broader concept encompassing mental and physical wellbeing – has changed the way hotels sculpt their offerings to go far beyond the simple spa.
Given that year-to-date 2024 RevPAR growth is lower than it was a year ago, we believe this slowdown is more reflective of increasing competition from alternative lodging sources rather than a lagging pandemic recovery. The average number of brands per brand family tracked by CBRE increased to 25 in 2023 from 13 in 2013.
(Network of Executive Women in Hospitality), a premier association committed to scholarships, advancing education, mentorship, and networking in the hospitality industry, unveiled its scholarship recipients last month during a series of events held alongside BDNY, from November 8-11, 2024.
Were pumped to be rounding out 2024 with our fifth venue opening on the shores of sunny Frankston,” says CEO Josh Uljans. The beach club covers 2,000sqm, with the team installing plenty of greenery, a balcony beer garden, cabana huts, four bars, a stage, and hammocks throughout.
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