The Woodlands (Houston), Texas, August 2018… BENCHMARK®, a global hospitality company, has appointed Kendra P. Clough director of conference services for the Doug Pitcock ’49 Texas A&M Hotel and Conference Center, which is nearing completion in College Station, Texas.  The Benchmark Resorts & Hotels property is expected to open in August.  Greg Stafford, general manager, made the announcement.

“I am very pleased to welcome Kendra to our property,” said Mr. Stafford. “She brings vast skills and experience in meeting and event planning to her new role, from both the venue’s as well as the professional planner’s perspective, which will be invaluable to our conference services team.”

Kendra Clough comes to the Texas A&M Hotel and Conference Center with a keen understanding of the hospitality industry and the Texas meetings market. She was previously director of conference services for the landmark Woodlands Resort & Conference Center located near Houston. Prior to this, Ms. Clough served as an ExxonMobil Event Planning Contractor for Oce, the domestic and international event and meeting coordination company. She has also been an independent meeting consultant with PricewaterhouseCoopers.

Ms. Clough received her Bachelor of Science degree from the University of North Texas, majoring in hospitality management. She is relocating to the College Station area.

Newburgh, IN – August 15, 2018 – Get ready to be real and be you on long stays. Marriott International’s TownePlace Suites by Marriott Newburgh Evansville is scheduled to open for business on Tuesday, September 4, 2018. On average, a TownePlace Suites opens every six days. Built for travelers looking for a simple and friendly place where they can settle-in, keep their routine, and easily connect to the Newburgh area. The new hotel located at 9922 Pointe View Drive, will operate as a Marriott franchise, owned by Newburgh Lodging, LLC and managed by Anderson Hospitality Group of Bowling Green, Kentucky.

“We are excited to introduce the TownePlace Suites brand to the Newburgh area,” said Diane Mayer, vice president and global brand manager, TownePlace Suites. “At TownePlace Suites, we get it. We want to go above and beyond to do everything we can to make our guests feel comfortable. We encourage our guests to be real, and help them to do so by providing a seamless residential atmosphere with a friendly staff who genuinely care about our guests. That is what our brand is all about, and this property is a great example of that.”

All service team members are thoroughly trained on local knowledge and look forward to connecting guests to the local area. Our floor-to-ceiling TowneMap® also helps guests instantly acclimate themselves to Newburgh by featuring great places to eat, play and live (explore). The TownePlace Suites Newburgh Evansville is located just five minutes from downtown Newburgh and the riverfront, and offers guest convenient access to Angel Mounds and Evansville, Indiana.

Ideal for travelers who need accommodations for longer stays, this new property offers studio, one-bedroom and two-bedroom suites with fully equipped kitchens, as well as separate living/working and sleeping areas. Guests can work and relax on their own terms in modern suites that feature full kitchens with stainless steel appliances and granite countertops, adjustable work spaces with built-in shelves and lighting, a large flat screen television, as well as luxurious new bedding. Most rooms also feature the Home Office™ Suite, designed to provide guests with plenty of storage and flexible space to spread out and make it their own.

Hotel Wailea, Hawaii’s only luxury adults-only resort, has selected ALICE to enhance their internal communication and align their staff task management within the most exclusive retreat community on Maui. ALICE is the hospitality industry’s leading operations technology, connecting every department of the hotel with one platform for all staff communication and guest requests. Last year, ALICE acquired concierge software provider GoConcierge to augment its technology and customer service offering.

Prior to implementing ALICE, Hotel Wailea used radios for communication across their 15 tropical acres and printed checklists to assign staff work. However, communicating only by radio created many obstacles for Hotel Wailea’s staff. First, this method challenged accountability because there was no written or time-stamped documentation on tasks. Second, due to the constant radio chatter, the front desk would turn the volume down on the radio to avoid guests overhearing. Because of this, the housekeepers and maintenance staff had difficulty contacting the front desk as they would not hear the radio calls. Finally, housekeepers would utilize the in-suite phones to contact the front desk, which increased call volume for agents and hampered productivity.

Now, all guest requests and internal work orders are placed by staff directly into ALICE. Each department has easy access to internal work orders and guest requests, and staff members can see who is responsible for a specific task and receive real-time status updates through to completion. “It was definitely an eye-opener for our front desk to see how many housekeeping & maintenance requests were made daily,” said Chris Mitsumura, Hotel’s Wailea’s Director of Operations. “With the implementation of ALICE, the ability to monitor and manage all requests in real time, allows for better communication via staff and guests. This also gives management the opportunity to adjust procedures to become more efficient, by retrieving accurate data upon demand”.

Employees on property appreciate how easy it is to use ALICE, and how fast communication has become between staff members. Management has also noticed a decrease in guest complaints, ”Our guest reviews have always been excellent, however, one thing we’ve noticed is we have virtually eliminated any complaints about housekeeping and maintenance service,” highlights Mitsumura. “The overall fluidity of our communications has improved immensely, which correlates directly with our guest feedback.”

ALICE has additional benefits for Hotel Wailea beyond aligning staff on property. Hotel Wailea overlooks three Hawaiian islands and has an abundance of activities for their guests to indulge in, including complimentary Hawaiian Outrigger Canoeing Tours and Tropical Mixology classes. With ALICE, the staff can now create itineraries that allow for a “more professional experience for our guests and keeps them informed on all the details for their bookings,” comments Mitsumura.

Digital Marketing Firm Celebrates Two Decades of Success in August

Vizergy, the hospitality industry’s leading digital marketing and technology company celebrates it’s 20^th anniversary while enjoying record growth and revenues.  The company, originally branded as Secure-Res, started in 1998 with a goal of helping hotels and resorts solve a common problem: understanding how to capture customers and generate revenue in the early years of the Internet.  

“Our founder Joe Hyman really was a bit of a visionary in our space. He developed a piece of software that allowed consumers to make online reservations before platforms like Travelocity and Expedia were household names. This booking engine was a cloud-based solution that hotels licensed for a monthly fee rather than the standard percentage model and the market loved it. Joe and Secure-Res quickly had thousands of customers, many of whom are with us today,” says Robert Arnold, Vizergy’s President.    

In the late 1990’s, most of these types of software applications were downloaded on location-based servers and connected through an Application Service Provider (ASP). Vizergy’s booking engine has undergone a number of transformations over the years and is now a fully functional cloud-based tool recognized by hoteliers as a reliable and secure revenue generation tool.

Today, Vizergy serves more than 1400 clients in more than 20 countries. Working with internationally recognized brands such as Hard Rock International, Marriott, Hyatt and the Melting Pot, Vizergy enjoys a strong reputation for creativity, service, technology platforms and execution. That reputation earns them engagements with several of the country’s top independent hotels.

The company, with a team of more than 70, offers a full suite of digital marketing solutions including website design, search engine optimization, media planning and buying and database leveraged marketing.  The centerpiece of its portfolio is the Vizergy Marketing System (VMS), a complete cloud-based toolkit allowing client to manage their own content, deploy media strategies and measure their results, in real time. Recently, the VMS added TargetingHub™, a data marketing platform that allows hotels to use existing customer databases to pinpoint, engage and capture past guests and find new guests using online media, social platforms and email. 

Joe Hyman, the company’s CEO says “our goal has always been to be the best at what we do. We are specialist in hospitality marketing. Our tools are built for hospitality marketers. We know how travel buyers shop and what it takes to win in this highly competitive space.” 

Over the years, Vizergy has been named to the Inc Magazine 500/5000 Fastest Growing Companies twice. Additionally, Vizergy’s been honored with hundreds of awards, co-authored several publications and developed a secondary certification program (Certified Hospitality Digital Marketer), with the Hotel Sales and Marketing Association International. In 2017, Vizergy was recognized by CIO Magazine as one of the Top 10 Digital Platforms.

Asked what’s next for Vizergy, Hyman says “Innovation. We are always listening to our customers.  We work hard to understand their challenges and what they need to achieve and move our business to those opportunities. The development of TargetingHub is a great example of that. We heard, loud and clear, that marketers wanted to make big data easy to manage. We built a platform that solved that problem and makes our clients money at the same time. This kind of thinking has kept Vizergy relevant from our earliest days and will carry us into the future.”  

To commemorate the anniversary, the company has planned a celebration this month with staff members, friends and family.  Additionally, there will be several events throughout the remainder of the year to honor clients, long time partners and team members.  

By Kristina M. D'Amico

It has been one year since the most dynamic, active, and destructive hurricane period hit the Caribbean in decades. Despite the devastating effect to the region, the resiliency of the Caribbean hotel market has been demonstrated particularly well over the last year, spurred by a strong recovery effort and bolstered by an influx of new airlift to the region. 

Strong Recovery Effort

Of the 32 Caribbean island nations, just seven were significantly affected (three quite severely) by the 2017 hurricane season. Significant progress has been made on each of these seven major islands, as follows:

Source: HVS Research and Market Interviews, as of July 31, 2018

In addition to the significant progress that has been made in the rebuilding process, there are many new developments in the pipeline of the affected islands, including 400 new hotel rooms in Dominica and more than 3,000 rooms in Puerto Rico. In addition, St. Martin/Maarten is also experiencing new hotel stock with renovations and conversions to new brands, such as the former Riu Palace to a Secrets Resort, and the Sonesta Great Bay Beach Resort to an all-inclusive Planet Hollywood Resort. 

Lessons Learned

One year later, hoteliers have learned many lessons. The 2017 hurricane season was unique given that the region had not faced a major hurricane in years; thus, many hoteliers were not prepared for what was to come. After discussions with many hotel owners that experienced different levels of damage, one of the biggest topics was related to insurance policies. Hotel owners quickly learned to be patient, as there was an unexpected challenge given the overload of claims and lack of adjusters. Delays were evident, and not planned, due to the lack of personnel to assess each claim. Historically, given the high costs to operate assets in the Caribbean, many owners have focused on keeping insurance costs low with high deductibles because of so many years of non-activity. Owners have now learned the importance of having a significant amount of money in their reserve accounts for such an occurrence. In addition, with the many delays to receive insurance settlements, owners realized how much more crucial it was to be able to react with significant capital reserves available, as without the significant funds, many hotels were forced to close. Owners on islands with damages not related to structural issues (e.g., landscaping, minor water intrusion, and general cleanup) also learned the importance of understanding the details of their premiums, as these items did not add up enough to meet their deductibles; therefore, the entirety of the money needed to be funded from reserves. 

However, on the positive side for the affected resorts, insurance proceeds have helped to provide hotel owners the opportunity to carry out capital improvements in an effort to renovate and modernize their properties. Many hoteliers have taken advantage of this opportunity to reposition and will reopen as a different brand to better position their assets going forward. Concurrent with the rebuilding process, building codes will be more strictly monitored going forward, which may help mitigate damages in the future.

Positive Regional Outlook, Bolstered by New Air Lift

One of the most crucial elements to the success of the region is airlift, as tourism to any island destination is dependent first and foremost on the accessibility of the destination. Despite the minor setback in the region, American, Delta, JetBlue, and Spirit Airlines have announced new routes and increased their frequencies to many islands in the Caribbean, as shown in the chart below.

Source: HVS

In addition to the above U.S.-based carriers, carriers such as Bahamas Air, Copa, and Sunwing have also announced new routes to the Caribbean, attesting to the strength and resiliency of the region, as well as the renovations at major airports, to grow capacity throughout the region.

Both St. Vincent and the Grenadines Argyle International Airport and Antigua’s V.C. Bird Airport underwent major transformations during the last few years and are now benefitting from the additional airlift. St. Martin’s Princess Juliana International Airport’s renovation is scheduled to begin in the fall of 2018 and will include an 18-month rebuild to a state-of-the-art facility with roof designed to sustain Category-5 wind guests. St. Thomas Cyril E. King Airport also recently announced an expansion plan to create new jet bridges, build new parking garages, and connect a ferry terminal to expedite travel to St. John and St. Croix. Curaçao’s Hato International Airport, an island unaffected by the 2017 hurricane season, is also amid a major transformation with a new arrivals hall, check-in area, and terminal expansion.

Increases in airlift and capacity have provided developers with opportunities for new projects in the islands, helping to bolster a robust pipeline of development. The significant and ongoing intra- and inter-Caribbean airlift continues to support positive tourism and development growth.

Closing Thoughts

In the song “Better Boat,” Kenny Chesney sings “Now and then I let it go/I ride the waves I can’t control/I’m learning how to build a better boat.” One year later, affected hoteliers have also had to build a “better boat” for their businesses. Through this rebuild, many positive conclusions have been drawn from the situation, as aging products were forced to undergo renovations and as insurance policies were thoroughly reviewed anew. Even throughout the trials and tribulations in the region due to hurricanes and previous epidemics, such as the Zika virus, visitors to the Caribbean keep coming back, as evidenced by the recent increases in airlift. The Caribbean is unlike any destination and is meant for long-term hospitality investments.

To learn more about the topics presented in this article, as well as hotel investment opportunities in the Caribbean, join HVS for the 8th Annual Caribbean Hotel Investment Conference and Operations Summit (CHICOS) to be held November 8 & 9 at the Fairmont Southampton in Bermuda. CHICOS brings together more than 300 regional and international investors and operators, in addition to the numerous other industry stakeholders, each year to discuss the region's markets and possibilities.

Register now https://chicos.hvsconferences.com/

By Jos Schaap
CEO and Founder - StayNTouch

It’s no secret — providing a high-level guest experience requires the support of high-level technology. As we shift into a mobile-centric, hyper-personalized era led by the digital demands of the modern consumer, the pressure for hotels to continuously introduce new technology and advance their existing offering(s) is staggering.

While the adoption and timely implementation of new technology is undeniably paramount in a hotel’s appeal to the modern consumer — the success of this new technology relies largely on whether that technology is built on an open API.

Think of it this way: imagine there are two great minds sitting in one room, with the knowledge and insight to solve a major problem for a company. The only catch? They speak different languages. Without a translator, they can’t work together to solve the problem at hand. An open API acts as that translator, ensuring all systems (with their various purposes) can communicate openly to ensure a seamless operational model.

APIs (Application Program Interfaces) act as the integral backbone of a hotel’s digital network, connecting hospitality software, applications and programs that keep operations running on any given day. In simpler terms, an API is a way for applications or programs to interface or connect and communicate with each other effectively.

Unfortunately, technology integration between systems has always been somewhat of an uphill battle for hoteliers and tech providers. The complexity of connecting two different systems together in order to not only communicate, but to transfer data in an intelligent way, has proven to be an industry-wide challenge. Why? Because different clients often express interest in different data sets or information, and the act of connecting two systems has traditionally been associated with high costs. Rather than paying one fee to ensure seamless integration, the PMS vendor would charge an interface fee as well as the secondary system provider. This likely attributed to the slow pace at which the hospitality industry has traditionally adopted new tech — it was, at times, simply too expensive a venture. Luckily, we’ve shifted into a time where open API’s are becoming an industry-wide gold standard, with technology providers offering an advanced solution without the hefty fee for connectivity.

So, in this world of API and robust technology demands, where did we begin, where are we at now and where are we headed?

In the early days, interfaces were hard wired via serial interfaces. High-Speed Serial Interface (HSSI) was a short-distance communications interface that was commonly used to interconnect routing and switching devices on local area networks (LANs) with the higher-speed lines of a wide area network (WAN). Typically, HSSI is used to connect a LAN router to a T-3 line. A great deal of computing power was required and sometimes a little black box was in place to enable the transfer of data.

After that came XML and thus API’s and the capability to utilize the Internet to complete interfaces and speed up the connective process. While this was a much-needed step in the right direction, it did not come without its challenges. Namely, companies saw this movement as an opportunity to monetize the integration process at the expense (rather than the benefit) of the hoteliers. Combine this with the unavoidable challenges that come with the adoption of new technology, and many hoteliers found themselves rightfully skeptical of the introduction of new systems (PMS, CRM, CRS and more). Sure, connectivity was now possible, but those APIs were far from open — rather, that kind of access was trapped behind expensive processes.

With the shift to an open model (which is finally being embraced by the hospitality industry) developers can freely access API’s in order to link systems seamlessly and create a streamlined experience for hoteliers which translates to an enhanced guest experience. With the power of readily-accessible API’s, hoteliers can cultivate a data-driven, guest-centric experience utilizing shared data across all applications, therefore curating a unique, personalized offering. This is the future of the hospitality industry, as the modern guest demands a more personalized relationship with the hotels they frequent and demand communications, upgrades, offers and on-property experiences that go that extra mile.

In fact, open API’s aren’t just the progressive ‘gold standard’ of connectivity— they are shaping up to be the only way in which hoteliers can truly keep up with the technology demands transforming the hospitality industry. With the constant bombardment of new entrants (apps, data and revenue streams, engagement opportunities) the only way to utilize the data from these new platforms will be through the use of APIs. Of course, there are a number of issues that still stand between the hospitality industry and total hotel system integration, including: security, legacy vs. modern system versions, lack of unified standards between systems, cloud-based vs. on-premise systems and more. But with this shift to an open API infrastructure and reduced implementation costs, in combination with the increased adoption of cloud-based, mobile-friendly software and modern (versus legacy) PMS technology, the hospitality industry is making major strides in the right direction.

After all, with so many different hotel systems (by various technology vendors and developers) frequently running at a single property, the need for a fully integrated, cloud-based and data-driven operational experience is paramount now more than ever before.

By Nina Simons

A hotel website is not a pretty banner that showcases the facility’s best assets – it’s actually the place where the guest experience begins nowadays. Through design and content, the website can present your hotel and the experience it offers effectively, making it your best tool for establishing trust and encouraging direct booking.

Now, we can have different opinions on which website “looks good” and which details of its design we like. But our subjective opinions on the intricacies of design are completely irrelevant to the question of conversion. The user experience is what essentially drives conversions, and a good website design guides the experience effortlessly. It’s about understanding what your guests are looking for on your website, how they use it, and how certain elements of design can entice them to book.

What’s important for driving conversions?

Optimizing usability is what will guide the website design through and through. Even the things such as the colour palette and typeface are most effective when chosen in regards to the overall user experience. You’re clearing the path to conversion through design, hence the most important aspects of hotel website design that can’t be overlooked:

• Mobile-first

This is the most obvious and absolutely unavoidable part of modern web design for any industry. Mobile has already taken over, and researchers estimate that by 2019, 70% of all online travel bookings will be made on mobile devices. While responsive web design and mobile optimization are normative, it’s best to start designing hotel websites for the mobile-first experience, considering that that is how they will be predominantly accessed.

• Important information emphasized

Considering that the majority of people rely on search engines when planning trips, you can expect that they’ve already done a bit of research and they’ve landed on your site to look for deals, compare prices, seek specific amenities, book directly, etc. Make this information clear and visible and use typography to emphasize it. Don’t forget to provide the phone number and address at a visible place. It’s equally important on mobile and desktop, and we can’t assume that your website visitors won’t ever wish to call you. They are there looking for information, and this is very much like your name tag.

• Effortless navigation

This is the pinnacle of optimizing the user experience, and something that really separates the work of the best web design companies from those that are just average. That’s because effortless navigation entails articulate design which ultimately guides the user’s actions without them really feeling guided. Simplify the menu, include directional cues (arrows and visual pathways), highlight the availability search button, and make sure that the booking process is simple and efficient (always shorten your forms to avoid site abandonment).  

• Visual storytelling

People visit your hotel’s website to get an idea of what a stay at your facility would feel like, and they rely on photographs more than anything. The importance of having high-quality images of the interior and exterior that give a clear idea of the spaces can’t be emphasized enough. But that’s not all: the images are not just there to exist in high resolution; their aim is to tell a story. Too many hotel websites use generic stock photos or even their own photos that tell absolutely nothing. Convey your message and use visuals to entice the user’s imagination and make them feel the atmosphere.

• Call to action

Your call-to-action button is there to grab the user’s attention and encourage them to book directly. It’s an extremely important part of your website and it’s supposed to guide the user effortlessly toward their next step, so you’ll need to draw their eye towards it. Contrast matters a lot here, and keep in mind the tunnel vision effect when directing the users towards your CTA.

Now that we have the basics covered, let’s look at some hotel web designs that do a marvellous job.

Casangelina
There’s a hotel website that conveys the atmosphere of the stay incredibly well. The entire design – the hero images, whitespace, typography, etc. all tell a story of the guest experience and immerse the user, encouraging them to continue exploring. There’s also background music which is a matter of preference and definitely not for all hotels. The “book now” button – spot on; it’s completely unobtrusive yet the first thing your eye is drawn to. There’s relevant information below the fold, including the contact details.

Dedeman Hotels & Resorts International
Notice the images used to represent an entire chain of hotels and convey a message about the brand – simple, bold, and effective. You’re instantly guided to all the bits of information you may be looking for: contacts, the “about us” section, special offers, and categories dedicated to their different hotels and venues. It’s simple and unobtrusive, with a very clear system of navigation and emphasized booking engine.

Tofino Resort
Here’s a beautiful and immersive website that entices the user’s imagination and encourages them to book right from the start. It truly tells a story with its powerful imagery and uses Parallax to emphasize the atmosphere, but it doesn’t stop there – the typography, pictograms, layout, and logo all contribute to the overall message the website is conveying. The “book now” button is placed at the top right-hand corner, where the user looks straight away, and the menu categorization presents one of the most beautiful examples of conciseness and simplicity. This is a website to take notes from. 

Take some time to explore these three websites and feel the experience yourself, keeping in mind the main points we’ve previously mentioned. Needless to say, you can try it both on your phone and desktop. It’s important to get a feel for these things as well as to know the technicalities behind them so that you can actually meet your potential customers’ expectations. You can apply all these principles to your own website, telling your own authentic story and pulling the visitors in.

PHOENIX (August 16, 2018)—The U.S. Travel Association announced the recipients of the 2018 Mercury and Destiny Awards and the State Tourism Director of the Year at its 35th annual ESTO conference (the Educational Seminar for Tourism Organizations), held here August 11-14.

Twenty-six U.S. Travel member organizations were honored for excellence and creative accomplishments in destination marketing and inspiring the continued development of imaginative promotional programs.

Mercury and Destiny Awards

A full list of the Mercury and Destiny Award recipients is available online.

The Destiny Awards recognize excellence in destination marketing on the local and regional level, while the Mercury Awards recognize this achievement on the state level. A judging panel of marketing experts from organizations including JPMorgan Chase, Hylink North America and the University of South Carolina selected the winners for these two award programs.

New this year, both the Mercury and Destiny Awards featured a People's Choice category. Voting was open to all U.S. Travel DMO and state tourism office members, as well as ESTO delegates.

State Tourism Director of the Year

The National Council of State Tourism Directors selected Sara Otte Coleman of the North Dakota Tourism Division as 2018's State Tourism Director of the Year. This annual award recognizes a state tourism director who has successfully raised the profile of his or her state as a travel and tourism destination. Each year's honoree is selected by a panel of their peers; prior to ESTO, state tourism directors from all U.S. states and territories vote for the individual exhibiting the most impressive achievements in destination marketing.

Carmel Valley, Calif. (August 16, 2018) – Esteemed hospitality veteran Giuseppe Lama has been appointed Managing Director of Carmel Valley Ranch, an award-winning resort that sprawls across 500 bucolic acres in Carmel Valley on California’s Central Coast. Lama, who holds more than 30 years of international hotel and resort experience spanning several countries, will guide daily and long-term operations for Carmel Valley Ranch.

“I am honored to join Carmel Valley Ranch, which brings to life the magic of the Carmel Valley landscape for every guest,” said Lama. “I look forward to working with this special team to create new experiences, unique spaces and more opportunities for discovery that honor our spirit as a haven for the young and young at heart.”

Lama brings a wealth of hospitality leadership expertise to his Managing Director role at Carmel Valley Ranch, most recently serving nearly 10 years as Managing Director of The Resort at Pelican Hill in Newport Beach, Calif., where he led resort operations and management for the prestigious oceanfront resort. He previously held General Manager positions at Estancia La Jolla Hotel & Spa in La Jolla, Calif.; the grand dame Hotel del Coronado across the bay from San Diego, Calif.; and Westin of Chicago in Chicago, Ill. Additional previous experience includes serving as Director of Operations at the star-studded The Century Plaza Hotel in Los Angeles, Calif., and assuming several Director roles with The Ritz-Carlton Hotel Company. 

Lama holds a degree in hotel management and administration from Oxford Brookes University in Oxford, England, and enjoys training for triathlons during his free time.

WAYNE, P.A. – August 16, 2018 – Gulph Creek Hotels, a leading Mid Atlantic hotel management and development company, today announced that they have been selected to manage the 270-room Crowne Plaza Hotel in Newton, Massachusetts.

The Crowne Plaza Boston Newton offers the best in comfort and convenience. Perfect for visiting local attractions and experiencing the bustling city life. The hotel is located near Fenway Park, the aquarium and convention center. 

The hotel features an indoor pool, fitness center and onsite restaurants, Lobby 320 and Social Restaurant & Bar. “We are excited to be entering the New England market with such a high-profile asset, states Derek Sylvester, principal of Gulph Creek Hotels, the hotel and Gulph Creek are poised for long-term growth and expansion in the region”.  

For more information, visit Crowne Plaza Boston Newton, email us or call 617-969-3010.

ANNA MARIA ISLAND, Fla. (August 17, 2018) – Waterline Marina Resort & Beach Club, a full-service boutique waterfront hotel on Anna Maria Island, announced today new additions to the hotel’s executive team: Christopher Hunter, general manager and Noland Dunnan, food and beverage manager.

General Manager Chris Hunter will oversee the hiring of new staff and day-to-day operations of Waterline Marina Resort & Beach Club, as well as its sister property, Mainsail Beach Inn, an award-winning 12-unit luxury beachfront property on the west coast of Anna Maria Island. With more than 14 years of experience in the hospitality industry, Hunter comes to Waterline from MGM Hotels & Resorts in Mississippi, where he worked for one and a half years as front service manager. During his career, Hunter has earned several recognitions, including Manager of the Year at both The Resort at Singer Island and Palm Beach Marriott Singer Island Beach Resort & Spa.  Hunter also served eight years in the U.S. Marine Corps and during his time was Sergeant of Marines stationed around the world.

Noland Dunnan has been appointed as the food and beverage manager of Eliza Ann’s Coastal Kitchen, the resort’s signature restaurant. Dunnan will oversee day-to-day restaurant operations, staff training and customer relations. Prior to joining Waterline, Dunnan served for more than one year as manager of the upscale Pier 22 Restaurant in downtown Bradenton, where he directed daily operations and coordinated seamless functions between restaurant and culinary teams. He also worked as a manager at the Sandbar Restaurant on Anna Maria Island. Dunnan has more than 15 years in the hospitality industry and served in the U.S. Army.

“This team we have formed at Waterline Marina Resort & Beach Club is truly exceptional,” said Joe Collier, Mainsail Lodging & Development president. “Our employees are the spirit of the hotel and are responsible for our continued success, and we look forward to seeing them succeed and grow with us.”

Waterline Marina Resort & Beach Club features 37 stylish, two-bedroom suites; a 50-slip marina offering a variety of water activities; 2,000 square feet of indoor and outdoor meeting space; the signature Eliza Ann’s Coastal Kitchen restaurant and bar; as well as a resort-style swimming pool with oversized sun deck extending into the marina.

For more information on Waterline Marina Resort & Beach Club, visit Waterlineresort.com.

SAN FRANCISCO, Calif. (August 17, 2018) – Four Seasons Hotel San Francisco announces Joerg Rodig as the General Manager to the downtown luxury hotel. Most recently, he was General Manager of Four Seasons Resort Whistler. A dynamic leader whose reputation as an innovator has made lasting impressions with his team, Rodig brings more than 20 years of global hospitality, food & beverage, and finance experience to the property.

“Leading the iconic Four Seasons Hotel San Francisco in the heart of the city is a dream come true and huge honor,” shares Rodig. “I can’t wait to dive in, get to know my team, the community, and fall further in love with the vibrant culture, active vibe, incredible food scene and dynamic people. It’s really my kind of destination.”

Rodig will lead all aspects of the recently redesigned hotel operation, as well as stakeholder and community relationships. The Forbes Travel Guide Five-Star hotel features California cuisine at MKT Restaurant-Bar; complimentary access to the best fitness club in San Francisco, Equinox; and a central location from which to explore the city.

“For me, innovation triggers excitement and builds energy, and I hope that I can bring that energy to San Francisco,” said Rodig. “Four Seasons is one of the key players in the destination – we see it not just as a privilege, but a responsibility in how we contribute to San Francisco.”

Rodig led Four Seasons Resort Whistler to stand tall with global talent - hosting events with culinary stars from Four Seasons Lanai, Maui, Vail, Jackson Hole, Westlake and, of course, San Francisco for Bici Gusti, Cornucopia Food & Wine Festival and a festive pop-up restaurant, The Cabin.

Known for his leadership role in bringing a sense of place, taste and ownership to his properties in Vancouver and Whistler, Rodig takes great pride in celebrating local talent, boosting regional bounty and making real connections with his signature enthusiasm for staff, residents, and guests.

“Since joining Four Seasons, I’ve been fortunate to have great mentors along the way. It’s been my goal to give back, and to invest in people to help shape the paths of future hoteliers,” continues Rodig.

Born and raised in Germany, Rodig grew up in food and beverage, with parents and grandparents in the restaurant business. He knew as early as age 10 that it was something he wanted to pursue.

What began as a Room Service Assistant Manager position in Boston, morphed into positions in finance departments at Four Seasons properties in Nevis, Austin and Palo Alto before moving to Vancouver as Director of Finance in 2009. In 2014, Rodig was promoted to Hotel Manager in Vancouver, where he was prior to Four Seasons Resort Whistler.

“At Four Seasons Hotel San Francisco, we have a great canvas for service innovation and an opportunity to create memorable experiences for our guests through our employees. I look forward to sharing these stories and connecting guests with this world-class destination,” said Rodig.

White paper establishes best practices for adopting voice technologies in hotels

CHICAGO (August 17, 2018) - HTNG's Voice Interaction Framework Workgroup announces the publication of a first of its kind white paper that offers guidance and best practices for the implementation of voice technologies in hotels.

The rapid growth of interest in voice-based hotel guest engagement makes this release particularly timely and valuable to HTNG members and the broader community of hoteliers.

Key industry players from hotelier and technology vendor communities met bi-weekly over the course of 12 months to identify and vet suggested guidelines for the implementation and operations of voice-based technologies, along with use cases and management features to be employed by hoteliers. The workgroup aims to give hoteliers a jumpstart in how they are thinking about the implications of voice technologies on their properties, saving them the time and effort associated with developing a unique voice interaction framework for their portfolio.

This framework ultimately gives hoteliers and technology vendors a common language to discuss the implementation and management of voice-based technologies in hotels and ensure that hotel guests and staff have a positive experience with the rapidly evolving voice medium.

HTNG's Voice Interaction Framework was led by Chairs David Berger, CEO of Volara and John Swain, director of product management at Evolve Controls.

"Adoption of voice based technologies in hotels has been rapid and varied," said David Berger. "These frameworks and guidelines - which result from months of collaboration between both hoteliers and hotel technology professionals in the HTNG Voice Standards Working Group - aim to ensure the adoption of minimum viable practices for the management of guest-facing experiences using voice-based technologies, while allowing for ample opportunity for creative differentiation."

John Swain added, "This white paper serves as a great primer for any hotelier looking to implement voice-activated controls to enhance the experience of the guests."

The Frameworks and Guidelines for Implementing Voice-based Solutions in Hotels document is available for download here.

For questions or for more information, please contact workgroups@htng.org.

From buildings filled with sensors tracking employees, to software that monitors reams of leasing documents, new technologies are rapidly being incorporated across the commercial real estate industry.

While no two tools are the same, they share a common output: data.

Big data, and the technology driving it, are promising huge leaps forward for the real estate industry. While broad-based data collection requires requisite caution, the eventual outcome is likely to be greater transparency, especially in markets where information remains tightly held, according to JLL and LaSalle’s Global Transparency Index.

“Property is in the midst of a technological leap,” says Jeremy Kelly, global research director at JLL. “The adoption of new technology platforms generates new and more easily-accessible market data, which is key for overall real estate transparency.”

In recent years, progress in improving transparency has failed to keep pace with growing demands from investors and the public. “We’ve gotten used to using technology to track everything from our health to our relationships, and this has raised the bar in terms of what we expect from real estate technology,” says Daniel Mahoney, vice-president, research and strategy, at LaSalle Investment Management.

But significant change is on the horizon. In the last two years, US$6 billion has been raised by so-called proptech start-ups – companies developing technologies dedicated to the property industry. More than 250 start-ups are developing and rolling out proptech around the world.

Take Israeli start-up Skyline AI. The company claims to have the most comprehensive dataset – including stock-market performance, interest rates and financial indicators, commercial real estate analytics, city and district level data – drawing on more than 130 sources going back 50 years. This allows the platform to make algorithm-based predictions around real estate asset performance, pricing, rents, effects of renovation and broader market trends.

Corrigo, a facilities management platform with more than a million users, has developed a platform that is able to predict how many cooling systems will need repairing in a particular city each summer, and to then allocate engineers appropriately to fix them.

New technology platforms and services will give investors, tenants and property managers access to more easily-manageable datasets, allowing for better-informed decision-making processes.

“As these companies mature, proptech has tremendous potential to improve transparency wherever it is adopted,” Kelly says.

Transparency through technology

Countries like the U.S., the Netherlands, and Canada, which already boast high levels of real estate transparency, have embraced proptech, the index shows.

But it’s markets such as China, Dubai, Mexico and Brazil – where data coverage by traditional operators may be less extensive – that innovations like blockchain and brokerage apps will significantly boost transparency.

“Technology is enabling these markets to leapfrog the transparency process undergone in more developed markets,” Kelly says.

Listings websites are among the most widely-adopted technology platforms, even in low-transparency markets like Egypt and Argentina. At the other end of the spectrum, blockchain technology could lead to greater global standardization in all areas relating to property, from city planning to environmental reports.

Trials have already started. Dubai plans to record all real estate transactions on blockchain by 2020. Estonia is also using the technology to authenticate property registries.

Long-term promise, short-term problems?

But the path to greater transparency has its hurdles.

Accurately monitoring real estate markets requires high-quality insights from strong data sets. However, the rapid expansion of proptech tools has provoked concern around the consistency and reliability of some of the data, a natural side effect when some of the new data providers rely on scraping online sources.

Kelly warns of unintended consequences for the industry. “Many proptech pioneers claim they have solutions to real estate data problems, but there may be compromises,” he says.

The ownership of information is also a key concern. Property owners and managers can collect vast amounts of data on tenants through sensors, internet-linked devices, and video feeds. If the information is tightly-held among operators, it could limit the broader benefits of new tools on wider market transparency.

Publicly-shared data “expands the size of the market and makes it more efficient. Proptech data certainly has this potential, but this outcome is not guaranteed unless the firms involved choose to take this path,” says Mahoney.

As real estate becomes a mainstay allocation for almost every institutional investor, access to consistent and reliable information is crucial.

“Improvements continue to be mad but investors and corporate occupiers are demanding ever higher levels of disclosure,” Kelly says. “And proptech firms are promising to accelerate progress.”

Download Now

REDWOOD CITY, CA – August 17, 2018 – According to new research by FutureBrand Speck, part of Interpublic Group (NYSE: IPG), Millennials (those currently 22-37) have a higher demand for enriching experiences over traditional hotel amenities. FutureBrand Speck surveyed 250 travelers to better understand how to attract and retain guests in the hospitality sector, and found disparate results among the generations. Younger generations are more willing to pay for technology and wellness services when they are well integrated into the hotel journey. Millennials surveyed would be more appreciative of fitness and wellness offerings during their stay than older generations, with Millennials being 1.5X as likely compared to those 40-55 and 2X those 56+.

They’re more likely to cite issues with fitness and wellness as a reason for negative hotel experiences. 2X as many millennials answered ‘Fitness and Wellness Issues’ on what made your hotel experience negative, other than pricing or location as compared to those twice their age.

Technology is also a major interest to Millennials, with 71% saying it increases the speed and efficiency throughout their hotel stay. As technology has allowed personalized content to be in every room of their home, Millennials want the same experiences on-the-go, with 67% wanting the same video streaming services and 52% smart TVs in hotel rooms, to binge those coveted Netflix shows their entire travel.

While almost everyone has a smart voice assistant in their pocket, and many having additional smart speakers at home, the study revealed, there is not a big need for such voice technology in the hotel space, with only 10-17% requesting them in their future hotel stay. “Voice interfaces are still refining their personal experience. Until people have a better sense what they can do with these voice assistants and where, they will focus more on the tried and true technologies they are aware of first”, said Jonathan Carpenter, Director of User Experience, FutureBrand Speck.

A majority of millennial respondents feel that integration of modern technology is one renovation that would most improve their overall experience at a hotel (45%). But, “Hotels cannot lose track of comfort (61%),” the report notes.

By J. Carter Allen

This article focuses on specific market analysis and data applicable to the development and operation of dual-branded hotels. Much has been written about the dual-brand concept over the last several years, particularly related to the asset type’s benefits and challenges. Instead of providing another such piece that rephrases the same concepts in different ways, this article will focus on data collected from our work with dual-branded hotels over the last several years. While a review of the history of dual-branded hotels and some basic concepts are necessary, this article will hope to provide new data and prove, or disprove, some commonly accepted themes related to dual-branded hotels in the United States.

History

Just as the early 2000s realized the proliferation of the boutique hotel concept, the second decade of the new millennium will arguably be known for the growth of the dual-brand hotel concept. While the concept of dual-branded hotels is not new by any means, the pipeline for these projects has exploded in recent years. Originally, developers maximized the return to a site by developing two hotels, in two separate buildings. While this method allows for some management efficiencies and enables the property as a whole to capture a wider range of demand, it fails to achieve significant development cost efficiency. The model prevalent today is the development of two brands within a single building, thereby allowing the developer to build a denser product that maximizes the return to the land. This pairing of multiple brands within one building allows management to capture a greater range of demand, improving revenue potential while capitalizing on development and management cost efficiencies.

Factors Influencing Development

Many factors must be analyzed prior to developing an opinion as to the highest and best use of a particular site. Demand trends must be identified to determine the timing and use that best fits the site. The potential development of a dual-branded hotel, or multi-branded hotel for that matter, is simply an expansion of the highest-and-best-use analysis. A build-up analysis should be preformed to identify the primary market area. This analysis essentially quantifies the existing demand in a market by estimating occupancy and market segmentation for each hotel in the competitive set and results in a forecast of occupancy for each brand.

Dual-brand hotel developments are most prevalent when the size of the site allows for a hotel with a relatively large room count; however, the market demand analysis would not support a large hotel of a single brand. For example, the demand analysis may suggest that there is not enough demand in the market to support a 225-room select- or limited-service hotel but could support a 125-room select-service hotel and a 100-room limited-service, extended-stay hotel. The ability to build a denser product also delivers more value to the land, which is why dual-branded developments have become popular in urban areas and mixed-use developments where available land is limited.

Dual-branded hotels must work in concert with one another to maximize management’s ability to capture demand and drive RevPAR. The pairing of the two brands is therefore of the upmost importance. The most popular pairings are of select-service and extended-stay hotels under one roof, enabling the developer to offer two different products while maintaining relatively similar chain scales and guest profiles. While this type of development is attractive to developers, and the synergies between the two somewhat comparable brands are significant, substantial design issues can still arise, as the respective amenities and brand identify of each product must be protected.

The Dual-Brand Relationship

As part of our research, we have collected historical occupancy, average daily rate (ADR), and revenue per available room (RevPAR) indices for four comparable dual-branded hotels located throughout the United States. The properties analyzed comprise one select-service hotel and one limited-service, extended-stay hotel. All properties were affiliated with Hilton or Marriott. As one may expect, the occupancy relationship between the select-service hotel and the limited-service, extended-stay hotel within a dual-brand model is typical and similar to how one would anticipate the properties to operate independent of one another. The following table illustrates the typical occupancy, ADR, and RevPAR relationships between the two brands.

Select-Service Brand Commands ADR Premium

Source: HVS

The data are consistent with the system-wide differences between Hilton and Marriott’s respective select-service and limited-service, extended-stay brands, which suggest that an extended-stay product would operate four to six points higher in occupancy. However, system-wide data suggest that the extended-stay brand would also perform at a higher ADR, contrary to the data illustrated above. The all-suite, extended-stay package and popular amenity set (specifically, the complimentary breakfast and evening manager’s reception) are primary factors that contribute to this trend on a system-wide basis. The inclusion of hotels in secondary and tertiary markets likely contributes to the difference in data, as the comparable hotels are located primarily in urban areas in strong markets, where the select-service property is able to charge a rate premium.

Accordingly, the dual-brand model is most widely seen in strong markets with high barriers to entry, as management teams can command a rate premium for the select-service property by leveraging multiple demand sources. In weaker markets with less rate differential, the two products become much more competitive, decreasing the likelihood of success. Accurate micro lodging trends, including market segmentation and ADR levels, are necessary to properly understand the rate potential of each hotel separately within the market. The two hotel operations related to the respective brand must be forecast independently of each other and each must have support within the market for occupancy and ADR positioning.

Expense Ratios

One of the factors that make dual-branded developments attractive is the relatively high yields that investors can achieve compared to other types of hotel development. For example, a developer is able to build a hotel with a room count comparable to a full-service property, but with the operating ratios of a select-service hotel. The higher profit margins compared to a full-service development make the projects more attractive to both debt and equity investors. The following table illustrates the composite operating statement of the four dual-branded hotels analyzed.

Source: HVS

The comparable operations achieved a relatively wide range of house profit from 37% to 51%; however, the composite figures are consistent with the aggregate data we collected for the Courtyard by Marriott, Hilton Garden Inn, Residence Inn by Marriott, and Homewood Suites by Hilton brands. Based on an overview of more than 250 operating statements, the four brands combined to achieve a house profit of 46.0%. Separately, the aggregate of the select-service hotels reflected a house profit of 45%, while the extended-stay hotels achieved a house profit of 48%. The data suggest that a dual-branded lodging property should operate at expense ratios consistent with a blended average of what the two brands would be anticipated to achieve individually. Specifically, departmental expenses tend to be more consistent within a ratio-of-sales and per-occupied-room basis, while undistributed operating expenses tend to have a closer relationship on a per-available-room basis.

The operational benefit for dual-branded hotels is realized primarily when the management company can run both hotels and employ just one person for key positions, such as the General Manager, Director of Sales, and Chief Engineer. This seems to be the typical arrangement; however, every project is looked at independently, and some brands may require multiple positions for the property. While hourly employees are generally brand-specific, the ability to cross-train team members can also lead to operational efficiencies.

Conclusions

The dual-brand model offers developers and owners a chance to command a larger share of the market, maximizing potential cash flows and producing a greater return to the land. However, not all sites are best suited for dual-branded hotel development, and accurate market segmentation and demand trends are critical components to success. Moreover, dual-brand projects often require much more time to work through the design process to ensure the protection of individual brand standards and amenities. The benefit of multiple brands is that management is able to leverage multiple sources of demand to drive RevPAR premiums over the competitive set, while maintaining profit levels consistent with select-service operations.

While the size of the dual-brand hotel market is growing at a rapid pace, the number of transactions of this property type is not yet significant enough to analyze differences in investor sentiment. Our conversations with developers, owners, and investors reflect that these assets are comparable to other select-service hotels in similar locations. Exit strategies should be particularly vetted early in the development stage. The unique design of a dual-brand hotel is incredibly specialized and could potentially lead to extensive capital costs when the property requires repositioning.

Reprinted from the Hotel Business Review with permission from www.HotelExecutive.com.

Honolulu-based hotel management company announces appointments of Nicole Darity as director of sales, Hawaii, Alyson Wee as revenue manager and Steve Keller as controller

HONOLULU, AUGUST 17, 2018 – OLS Hotels & Resorts, a leading hotel management company of 22 hotels and resorts throughout the U.S., is proud to announce the appointments of three key management positions within the company’s Honolulu headquarters: Nicole Darity as director of sales, Hawaii, Alyson Wee as revenue manager and Steve Keller as controller. With their extensive knowledge and experience in the Hawaii market, the new team members will play an integral role in OLS Hotels & Resorts’ expansion in Hawaii. The management company currently operates three hotels in Hawaii, Hotel Renew in Waikiki, Oahu, Plantation Hale Suites in Kapaa, Kauai, and Banyan Harbor Resort in Lihue, Kauai, with plans to develop and manage additional boutique properties throughout the islands. With its new Hawaii team in place, OLS Hotels & Resorts will focus on filling the consumer demand for unique, independent properties while bringing a fresh, local perspective to its hotel operations.

“We are thrilled to welcome Nicole, Alyson and Steve as part of OLS’ all-star team in Hawaii,” said Ben Rafter, chief executive officer of OLS Hotels & Resorts. “This team has experience managing thousands of rooms throughout Hawaii, so we are confident they will be valuable assets in achieving new goals and continuing our growth as a market leader."

Darity joins OLS Hotels & Resorts as director of sales, Hawaii, with a focus on military, government, international and domestic wholesale. Prior to OLS, Darity was the director of sales for more than five years at Aqua-Aston Hospitality where she focused on the military and government markets. Previously, Darity was the director of a private school, St. Philomena Early Learning Center, where she successfully brought it from nearly closing to one of the most sought-after schools on Oahu. Darity also has experience as the director and programs manager at USO Hawaii.  She holds a bachelor's degree in business administration with a concentration in information technology from Colorado Technical University.

As the new revenue manager, Wee is responsible for developing, enhancing and leading revenue management strategies and best practices for OLS’ Hawaii properties. She also focuses on rate building, connectivity and distribution. Prior to joining OLS, she served as a revenue manager for Aqua-Aston Hospitality where she focused on several Hawaii properties, ranging from budget to upscale boutique, and successfully increased and impacted important revenue metrics and key performance indicators. Prior to the hospitality industry, she worked at a family law firm and a real estate law firm. She holds a bachelor’s degree in business administration from University of Hawaii at Manoa.

In his new role as controller, Keller is responsible for all financial operations to increase revenue of the company’s Hawaii properties. He brings more than 21 years of experience in finance and operations to OLS and is delighted to be rejoining the hospitality industry after three years as controller for Marathon Group, the largest agriculture and industrial chemical supplier in the state of Hawaii. Previously, Keller was corporate controller for Aqua Hotels and Resorts where he oversaw 28 hotel and resort properties throughout six Hawaiian Islands and Guam. He holds a Master of Business Administration in finance and Bachelor of Science in business administration, hotel and restaurant management from University of Denver.

For more information about OLS Hotels & Resorts, please visit www.olshotels.com.

Phoenix, AZ, Aug. 17, 2018 -- On August 15, 2018, InnSuites Hospitality Trust (NYSE American: IHT), through InnSuites Hotels, Inc., entered into an agreement to profitably sell its wholly-owned subsidiary, IBC Hotels, LLC  (“IBC”) to a wholly-owned subsidiary of OBASA Capital Investments, Inc., an independent third-party purchaser.  The sale was completed, with funds being received by IHT, on August 16, 2018.  The sale price and terms were not disclosed.

IBC provides proprietary software, exclusive marketing services, and distribution to a network of approximately 2,000 unrelated hospitality properties under the names InnDependent Boutique Collection, IBC Hospitality Technologies and IVHTravel.com.  Additionally, IBC provides software and solutions to a variety of branded hotels through IBC’s patent-pending loyalty program, utilizing its proprietary booking engine www.ivhtravel.com.  

Forward-Looking Statements
With the exception of historical information, the matters discussed in this news release may include “forward-looking statements” within the meaning of the federal securities laws.  All statements regarding IHT’s review and exploration of potential strategic, operational and structural alternatives and expected associated costs and benefits are forward-looking.  Actual developments and business decisions may differ materially from those expressed or implied by such forward-looking statements.  Important factors, among others, that could cause IHT’s actual results and future actions to differ materially from those described in forward-looking statements include the uncertain outcome, impact, effects and results of IHT’s review of strategic, operational and structural alternatives, and the risks discussed in IHT’s SEC filings.  Forward-looking statements are not guarantees of future performance due to numerous risks and uncertainties, such as: local, national or international economic and business conditions; competition, loss of membership contracts; effectiveness of IHT’s software program; and other factors.  Such uncertainties, and others affecting IHT are described in greater detail in our filings with the Securities and Exchange Commission.  Although we believe our current expectations to be based upon reasonable assumptions, we can give no assurance that our expectations will be attained.  IHT expressly disclaims any obligation to update any forward-looking statement contained in this news release to reflect events or circumstances that may arise after the date hereof, all of which are expressly qualified by the foregoing, other than as required by applicable law.

From buildings filled with sensors tracking employees, to software that monitors reams of leasing documents, new technologies are rapidly being incorporated across the commercial real estate industry.

While no two tools are the same, they share a common output: data.

Big data, and the technology driving it, are promising huge leaps forward for the real estate industry. While broad-based data collection requires requisite caution, the eventual outcome is likely to be greater transparency, especially in markets where information remains tightly held, according to JLL and LaSalle’s Global Transparency Index.

“Property is in the midst of a technological leap,” says Jeremy Kelly, global research director at JLL. “The adoption of new technology platforms generates new and more easily-accessible market data, which is key for overall real estate transparency.”

In recent years, progress in improving transparency has failed to keep pace with growing demands from investors and the public. “We’ve gotten used to using technology to track everything from our health to our relationships, and this has raised the bar in terms of what we expect from real estate technology,” says Daniel Mahoney, vice-president, research and strategy, at LaSalle Investment Management.

But significant change is on the horizon. In the last two years, US$6 billion has been raised by so-called proptech start-ups – companies developing technologies dedicated to the property industry. More than 250 start-ups are developing and rolling out proptech around the world.

Take Israeli start-up Skyline AI. The company claims to have the most comprehensive dataset – including stock-market performance, interest rates and financial indicators, commercial real estate analytics, city and district level data – drawing on more than 130 sources going back 50 years. This allows the platform to make algorithm-based predictions around real estate asset performance, pricing, rents, effects of renovation and broader market trends.

Corrigo, a facilities management platform with more than a million users, has developed a platform that is able to predict how many cooling systems will need repairing in a particular city each summer, and to then allocate engineers appropriately to fix them.

New technology platforms and services will give investors, tenants and property managers access to more easily-manageable datasets, allowing for better-informed decision-making processes.

“As these companies mature, proptech has tremendous potential to improve transparency wherever it is adopted,” Kelly says.

Transparency through technology

Countries like the U.S., the Netherlands, and Canada, which already boast high levels of real estate transparency, have embraced proptech, the index shows.

But it’s markets such as China, Dubai, Mexico and Brazil – where data coverage by traditional operators may be less extensive – that innovations like blockchain and brokerage apps will significantly boost transparency.

“Technology is enabling these markets to leapfrog the transparency process undergone in more developed markets,” Kelly says.

Listings websites are among the most widely-adopted technology platforms, even in low-transparency markets like Egypt and Argentina. At the other end of the spectrum, blockchain technology could lead to greater global standardization in all areas relating to property, from city planning to environmental reports.

Trials have already started. Dubai plans to record all real estate transactions on blockchain by 2020. Estonia is also using the technology to authenticate property registries.

Long-term promise, short-term problems?

But the path to greater transparency has its hurdles.

Accurately monitoring real estate markets requires high-quality insights from strong data sets. However, the rapid expansion of proptech tools has provoked concern around the consistency and reliability of some of the data, a natural side effect when some of the new data providers rely on scraping online sources.

Kelly warns of unintended consequences for the industry. “Many proptech pioneers claim they have solutions to real estate data problems, but there may be compromises,” he says.

The ownership of information is also a key concern. Property owners and managers can collect vast amounts of data on tenants through sensors, internet-linked devices, and video feeds. If the information is tightly-held among operators, it could limit the broader benefits of new tools on wider market transparency.

Publicly-shared data “expands the size of the market and makes it more efficient. Proptech data certainly has this potential, but this outcome is not guaranteed unless the firms involved choose to take this path,” says Mahoney.

As real estate becomes a mainstay allocation for almost every institutional investor, access to consistent and reliable information is crucial.

“Improvements continue to be mad but investors and corporate occupiers are demanding ever higher levels of disclosure,” Kelly says. “And proptech firms are promising to accelerate progress.”

Download Now

Phoenix, AZ, Aug. 17, 2018 -- On August 15, 2018, InnSuites Hospitality Trust (NYSE American: IHT), through InnSuites Hotels, Inc., entered into an agreement to profitably sell its wholly-owned subsidiary, IBC Hotels, LLC  (“IBC”) to a wholly-owned subsidiary of OBASA Capital Investments, Inc., an independent third-party purchaser.  The sale was completed, with funds being received by IHT, on August 16, 2018.  The sale price and terms were not disclosed.

IBC provides proprietary software, exclusive marketing services, and distribution to a network of approximately 2,000 unrelated hospitality properties under the names InnDependent Boutique Collection, IBC Hospitality Technologies and IVHTravel.com.  Additionally, IBC provides software and solutions to a variety of branded hotels through IBC’s patent-pending loyalty program, utilizing its proprietary booking engine www.ivhtravel.com.  

Forward-Looking Statements
With the exception of historical information, the matters discussed in this news release may include “forward-looking statements” within the meaning of the federal securities laws.  All statements regarding IHT’s review and exploration of potential strategic, operational and structural alternatives and expected associated costs and benefits are forward-looking.  Actual developments and business decisions may differ materially from those expressed or implied by such forward-looking statements.  Important factors, among others, that could cause IHT’s actual results and future actions to differ materially from those described in forward-looking statements include the uncertain outcome, impact, effects and results of IHT’s review of strategic, operational and structural alternatives, and the risks discussed in IHT’s SEC filings.  Forward-looking statements are not guarantees of future performance due to numerous risks and uncertainties, such as: local, national or international economic and business conditions; competition, loss of membership contracts; effectiveness of IHT’s software program; and other factors.  Such uncertainties, and others affecting IHT are described in greater detail in our filings with the Securities and Exchange Commission.  Although we believe our current expectations to be based upon reasonable assumptions, we can give no assurance that our expectations will be attained.  IHT expressly disclaims any obligation to update any forward-looking statement contained in this news release to reflect events or circumstances that may arise after the date hereof, all of which are expressly qualified by the foregoing, other than as required by applicable law.

FOR FURTHER INFORMATION:
Marc Berg, Executive Vice President
602-944-1500
email: mberg@innsuites.com