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One of the industries with the fastest global growth rates is the luxury hospitality and real estate sector, which provides a premium experience to high-end customers. The market trend is anticipated to increase in 2023 as the world continues to recover from the epidemic, and businesses in the industry must keep up with new developments […] The post Luxury Hospitality and Real Estate Market Trends for 2023 appeared first on Are Morch, Digital Transformation Coach.
The Melbourne bakery has launched their third outpost just a short stroll from their original hole-in-the-wall site on Bridge Road. Following their stores in Camberwell and Moorabbin, the new location features a larger offering for both dine-in and takeaway. The menu stars hot pies, salads, toasted sandwiches, sausage rolls and a range of freshly-baked croissants, cruffins and danishes.
US: Meetings, events and hospitality technology provider Cvent has entered into a definitive agreement to be acquired by Blackstone at an enterprise value of $4.6 billion. Blackstone has received a $1 billion credit facility as part of the financing of the transaction. A wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) will be a significant minority investor alongside Blackstone.
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. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.
Dynamic pricing would add friction to the guest experience, according to Capterra’s 2023 Dynamic Pricing in Restaurants. Sixty-five percent of consumers say dynamic pricing would make the decision of where and when to eat more difficult; 63 percent say it would make it harder to budget their restaurant spending. The research indicates consumer sentiment on dynamic pricing is overwhelmingly negative, and that most customers are unlikely to utilize it in a way that benefits restaurants.
The best commercial strategies for hoteliers will help you grow your hotel business. Use these 5 strategies to attract new clients and retain existing ones.
Sydney’s Bistrot 916 has announced the restaurant has a new head chef in the kitchen. Seasoned culinary professional Will Elliott joins the Potts Point venue after time at Swillhouse’s Restaurant Hubert and the globally lauded St. John in London. “Thanks to the hard work of Dan [Pepperell], Mikey [Clift], Andy [Tyson] and everyone else, the venue is already so well established two years in,” says Elliott. “I get the benefit of coming into Bistrot’s already-incredible offe
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Sydney’s Bistrot 916 has announced the restaurant has a new head chef in the kitchen. Seasoned culinary professional Will Elliott joins the Potts Point venue after time at Swillhouse’s Restaurant Hubert and the globally lauded St. John in London. “Thanks to the hard work of Dan [Pepperell], Mikey [Clift], Andy [Tyson] and everyone else, the venue is already so well established two years in,” says Elliott. “I get the benefit of coming into Bistrot’s already-incredible offe
The Netherlands: Amsterdam-based boutique hotel group citizenM has secured a dual currency €243.3 million and £201.7 million sustainability-linked loan (SLL). The funding is linked to ESG (environmental, social and governance) targets such as reducing CO2 emissions and improving green building certifications. It will incentivise citizenM to achieve environmental benchmarks in a bid to secure lower interest rates. citizenM currently operates 31 hotels worldwide across 18 cities and nine countries
In this time of economic insecurity, payments fraud has the potential to hit businesses harder than ever before. Currently, the average US business is losing $300,000 to payments fraud each year according to the latest Financial Census , a study which surveyed 2,750 senior finance executives across the globe – 15 percent of whom work in the retail, catering and leisure industry.
Hotels are often biased when creating offerings and packages for potential guests because they make decisions based on a hunch or past experiences that are no longer relevant. Let's examine which data a hotel needs to implement a successful guest personalization process.
Jenifer Kern highlights eight trends that restaurant operators need to embrace in a rapidly progressing digital world where efficiency is no longer an easy equation.
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. Mistakes can lead to costly penalties and operational disruptions, making it essential to adopt advanced solutions that ensure accuracy and efficiency.
Check-in is one of the most important parts of the hotel experience, giving you the chance to make a positive impression on your guests, starting with digital registration cards. Hotels are constantly looking for ways to tailor the guest experience, and being able to offer a smooth check-in process is one of the main benefits of these digital cards.
The restaurant industry is an increasingly competitive market. And more restaurant owners are searching for ways to encourage repeat customers and successfully grow their businesses. One way to gain a competitive edge is with music – which is often overlooked. Music can help restaurants strengthen relationships with their customers and build loyalty.
First impressions count. Scratch that; they are everything. Mille Club member hotels not only given them some thought but make them perfect, which requires an ongoing effort.
France: Radisson Hotel Group (RHG) has opened the Hotel YAC Paris Clichy , a member of Radisson Individuals, located in the northwest Parisian suburb of Clichy. The hotel offers 75 rooms, a restaurant and bar, fitness centre, an indoor pool and sauna, along with a meeting room with capacity for 50 people which will open later in the year. The meeting facilities will provide videoconferencing technology, LED/LCD projector, and catering services, whilst the rooftop and patio spaces are also availa
Driven by a diverse and exciting ecosystem of passionate, ambitious, and often young entrepreneurs, the Food & Beverage (F&B) sector is a highly competitive environment full of immense challenges and exciting opportunities. Expert Market’s 2024 industry report, sponsored by Toast, is informed by a survey of 522 U.S. food and beverage professionals, from restaurant owners to food service managers, providing insights into the real-time challenges and opportunities within the industry.
We’re only a few weeks away from Unfold and its smorgasbord of e xciting hospitality topics. Top industry leaders are joining us in Amsterdam on April 4 th to explore this year’s theme: The New Standard in Hospitality.
In the waning days of 2022, FDA issued an updated Food Code with several important updates. FDA is responsible for more than a quarter of the U.S. economy, and the Food Code impacts virtually every American. According to FDA, the Food Code: represents the FDA's best advice for a uniform system of provisions that address the safety and protection of food offered at retail and in food service, and while it is a model code that is not required, it has been widely adopted by state, local, tribal
France: The four-star Pullman Cannes Mandelieu Royal Casino has been acquired by Poseidon Hospitality, an entity owned by Luminare and Unik Capital Solutions. Global real estate advisor CBRE advised on the sale on behalf of Joa Group, a French casino company owned by Blackstone and Kings Park Capital. The Pullman Cannes features 213 keys and provides direct access to the beach.
Managing HR tasks like payroll, compliance, and employee data can overwhelm small businesses. That’s where a Human Capital Management (HCM) solution comes in. Our eBook, Why Every Small Business Needs an HCM Solution: A Comprehensive Guide , shows how an HCM system automates tedious processes, ensuring your business stays compliant and efficient. You’ll learn how to simplify payroll, eliminate costly errors, and empower your employees with self-service tools.
After tasting the 21 cocktails that made the shortlist, Australia’s Bombay Sapphire Brand Ambassador Corina Retter has revealed the final four bartenders to reach the last stage of the competition. The four finalists are: Jake Down of Sydney’s Apollonia; Jessica Favaro of Adelaide’s Bar Torino; Lachlan Bentley of Melbourne’s Gimlet at Cavendish House and Pauric Kennedy of Sydney’s Barangaroo House.
To say that small businesses, particularly those in the restaurant industry, have suffered over the past couple of years is an understatement, and unfortunately it doesn’t look like things are getting better any time soon. Strict pandemic restrictions on customers, a systemic labor shortage, serious supply chain problems, and skyrocketing inflation have already decimated local restaurants — and the threat of significantly higher taxes and more regulations and red tape from Washington
Regent Santa Monica Beach, poised to open late 2023, is pleased to announce the appointment of Younes Atallah as the resort’s general manager. Atallah—awarded Outstanding General Manager of the Year 2022 by California Hotel & Lodging Association—joins Regent Hotels & Resorts to open the first destination in the Americas for IHG Hotels & Resorts’ reimagined upper luxury brand.
UK: Luxury hotel in the Scottish Highlands , Kincraig Castle, has been sold by Graham + Sibbald to Ruchir Gupta of Siya Properties. Since the 17th century, Kincraig Castle has been home to generations of the Mackenzie Clan. It sits on 10 acres of land and now offers 15 bedrooms, a resident’s lounge and reading room, the Alexander Restaurant, a function suite for up to 60 people, a bar and commercial kitchen.
Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System
Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Duke Heninger, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.
The concept of pairing food with entertainment is not new to hospitality. After all, it seems like bowling alleys, arcades, and music venues have always offered concessions. Likewise, billiards have always gone hand in hand with drinking establishments. But in the last few years, concepts like Top Golf and Punchbowl Social have paved the way for a new evolution of conceptual, upscale, and food-focused “eatertainment”.
How to improve the housekeeping department is a topic that all hoteliers should think about because by increasing productivity you can also improve the guest experience. A more productive housekeeping team means faster and earlier check-ins are possible as well as turnover from one set of guests to the next, which leads to increased revenue. The housekeeping department is an integral and essential part of any hospitality operation, and this department has been steadily adopting new technology to
The board of directors of Marriott International, Inc. today announced the election of Lauren R. Hobart, President and Chief Executive Officer of DICK’S Sporting Goods, and Grant F. Reid, former President and Chief Executive Officer of Mars, Incorporated, as independent directors of the company, effective March 15, 2023. Both are expected to be included in the company’s slate of nominees for election at its upcoming 2023 annual meeting of stockholders.
Rising costs associated with inflation has reignited sustainability efforts. News in this morning that citizenM has secured a €480 million sustainability-linked loan , which incentivises the company to achieve low interest rates by hitting ESG targets, is a prime example. Given citizenM’s reputation within the industry, it marks a significant step towards pushing sustainability to the top of hoteliers’ priority list.
Payroll optimization can be one of the most time-consuming and complex factors of small business management. Yet, organizations that crack the code on streamlining employee compensation often discover innovative avenues for growth. With the right strategies in place, outsourcing and streamlining payroll processes can result in substantial time and resource savings.
Peerless Foods is proud to announce the acquisition of the Tangold Pastry Australia Business based in Victoria, Australia. The strategic acquisition provides for an extension of its current bakery ingredients range into the bakery and foodservice markets both domestically and overseas. Tangold is an established, family owned business producing high-quality, ready-to-use bakery ingredients such as pastry rolls and shells as well as ready-to-bake croissants and Danish pastries.
Carrot cake and strawberry shortcake are perfectly lovely ice cream flavors. But ranch? Not so much. | Van Leeuwen The latest wave of pop culture-inspired collaborations leaves me with one question: What if we didn’t? Too often in human history (and in Jurassic Park ), we ask ourselves, “Can we?” when the real question worth asking is, “Should we?” Little else embodies this sentiment better than what is currently the bane of my existence as a person with taste buds: the latest wave of attention-
Radisson Hotel Group announces the opening of Hotel YAC Paris Clichy, a member of Radisson Individuals, the Group’s first Radisson Individuals property in Paris, located in the leafy suburbs of the city of lights. Following an extensive renovation, the hotel welcomes guests with its magnificent rooftop, lush garden, and beautiful patio, as well as renovated guest rooms and an indoor swimming pool, all within a short walk of the Seine and the Clichy Bridge.
UK: Today, the Chancellor of the Exchequer Jeremy Hunt has outlined his Spring Budget. According to Hunt, the UK is expected to avoid a technical recession in 2023, and that inflation is set to fall by 2.9 per cent by the end of the year (inflation is currently at 10.1 per cent). Hunt said that “high inflation is the root cause” of the strike action currently affecting many industries in the UK.
Dive into the transformative potential of business automation within the hospitality sector. This comprehensive overview showcases how innovative technologies can streamline operations, reduce costs, and elevate guest satisfaction. Discover the advantages of integrating systems like automated check-ins, CRM, and energy management to not only save on expenses but also to provide a seamless and personalized guest experience.
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