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GBTA: Business travel spending to reach $1.8T by 2027

Hotel Business

trillion by 2027. Now in its 15th edition, this latest report outlines the top-level outlook for forecasted global business travel spending and other trends for 2023 to 2027. trillion by 2027, fueled by more favorable economic conditions than expected in 2022 and 2023. by 2027 appeared first on hotelbusiness.com.

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Host Hotels to acquire Turtle Bay Resort for $680M

Hotel Business

The purchase price allocation is expected to be $630 million for the resort and $50 million for the land parcel, subject to final appraisal. The acquisition price represents a 16.3x Host Hotels & Resorts Inc. EBITDA multiple or a cap rate of approximately 5.3% on the resort’s 2024 estimated results.

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Sustainability: The Next Stop for Spanish Tourism Excellence

Revenue Hub

1 Travel and tourism accounted for around 14 percent of Spain’s total GDP and provided one in eight jobs. And as travel resumes in an era of high inflation, Spain will likely face stiff competition from several destinations that also offer sunshine and coastal vacations at similar, or lower, prices—Egypt, Greece, and Turkey, for example.

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Are EV Charging Stations Worth the Investment?

Modern Restaurant Management

Zero-emission vehicles (ZEV) will account for 70 percent of new passenger vehicles globally by 2040. Historically high gas prices are pushing consumers towards EV options. Experts predict that the EV market will more than double by 2027. In January, Tesla reported $5.5 The spike in EV sales is due to a few key factors.

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Four Reasons to Consider a Virtual Kitchen Now

Modern Restaurant Management

though late to the game, is seeing an explosion in these types of kitchens and is expected to dominate the global market by 2027, according to Allied Market Research. Virtual kitchens, with their low barriers to entry and streamlined delivery focus, are a smart and inexpensive way to get your food into customers’ hands.

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The History of Tipping in Restaurants: The Complicated Past, Present, and Future

7 Shifts

And Danny Meyer created the Hospitality Included service model, increasing menu prices to offset higher wages. The District of Columbia is looking to ban it by 2027. Hourly wage doesn't always reflect performance, but tips can account for this. Alice Waters implemented a service charge at Chez Panisse as early as the 1980s.

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2023 hotel and travel trends

Boutique Hotel News

This means that during periods of high consumer price growth, hotels have been able to raise room rates and pass on these rising costs to guests. Payments will also form a major part of a hotelier’s CRM strategy moving forwards, especially taking into account the shift to eCommerce. per cent on average above inflation per year.

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