Selina, a hotel and experiences brand focused on youth travelers, said on Wednesday that its financial metrics were trending in the right direction as it reported earnings results.
25.08.2023 - 13:10 / skift.com / Greg Ohara / Sean Oneill
Certares, a private equity firm that invests in travel, said on Wednesday it had closed its first real estate hospitality fund, with $284 million of equity commitments.
The fund is acquiring hospitality real estate assets in U.S. growth markets. It has already made investments in 10 hotels that together have more than 2,100 keys.
The New York-based investments specialist has invested heavily in travel companies — most prominently American Express Global Business Travel, car rental brand Hertz, the airline Azul, and Liberty Tripadvisor Holdings.
“A targeted real estate strategy is a natural extension of our experience in travel and hospitality,” said Greg O’Hara, founder and senior managing director at Certares.
The 10 hotels that Certares has made investments in include:
The fund’s operators can take advantage of Certares’ leisure and business travel distribution assets, which it said “enhance demand and provide market intelligence for the hotels.”
The fund has an active pipeline of new investments, said Nolan Hecht, senior managing director and head of real estate at Certares, in a statement. Hecht previously oversaw hotel investment and asset management at Square Mile Capital Management.
Selina, a hotel and experiences brand focused on youth travelers, said on Wednesday that its financial metrics were trending in the right direction as it reported earnings results.
The Lake Tahoe region of northern California is, arguably, the best place in the state for year-round outdoor activities, from world-class mountain biking in the summer to epic skiing in the winter, with hiking, camping, and all manner of lake activities occupying their seasonal niches. It’s an appealing place for a second home for anyone who’s looking for an active lifestyle year-round, no matter what your jam. Anchoring the California side of Lake Tahoe (which encompasses a stretch of Nevada south of Reno, as well) are the towns of Truckee and Tahoe City, both real mountain towns with good healthcare, solid schools, chef-driven restaurants, and year-round communities that thrive in the context of healthy tourism. And the real estate market continues to be nimble, even as it normalizes after the madness of the 2020 pandemic boom.
Hilton said Thursday that it plans to install at least six electric vehicle chargers per property at 2,000 hotels in North America, and will buy devices from Tesla. Once it fully installs them, Hilton will own more electric vehicle chargers than any other U.S.-based hotel group.
New York City’s short-term rental regulations could slash up to 70% of Airbnb’s 23,000 active listings in the city after September 5. Experts are divided on how the move might affect hotels, and their forecasts are foggy. Yet the analyses reveal interesting details about this critical lodging market regardless.
A new pilot program is introducing closed-loop packaging aboard Carnival Cruise Line ships through a collaboration that includes Bacardi and ecoSPIRITS, a circular economy technology company.The pilot will determine if re-usable containers developed by ecoSPIRITS can be used to serve Bacardi rum on Carnival ships, in turn reducing single-use packaging by 95 percent. The concept is being tested for three months on three ships operating from Miami: Carnival Celebration, Carnival Horizon and Carnival Sunrise.“As we continue to work towards our sustainability goals, the collaborative work of our beverage team, ecoSPIRITS, and Bacardi is a great example of thinking in ways that are truly out-of-thebox, or in this case—out-of-the-bottle, to develop new partnerships and practices that further our ongoing efforts,” said Zachary Sulkes, senior director of beverage operations at Carnival Cruise Line.To support the new collaboration with Bacardi and Carnival, ecoSPIRITS created a specialized version of its closed loop glass packaging format, the ecoTOTE 3.0SC Cruise Edition, specifically for the maritime environment.
During the initial phase of the project, development of real estate specific to the aviation sector will take place on the southern side of the runway. An investment of 30 million euros has already been allocated to this area, with the completion of the first structures targeted for 2025.
Delays are an unpleasant but inevitable part of air travel, but delays on the tarmac after boarding the airplane can be especially frustrating — and potentially dangerous.
Accor, the Paris-based hotel giant, said on Tuesday that Omer Acar will head its brands Raffles & Orient Express as of March 1. Acar will join Accor’s other brand CEOs in its luxury and lifestyle group (Fairmont, Sofitel & MGallery, and Ennismore) — all of whom report directly to group CEO Sébastian Bazin.
Not all hotels should pursue remote workers, a hotel group CEO has suggested, because they mostly served their purpose during the pandemic.
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The U.S. hotel sector will this year finally surpass 2019 levels on a few performance metrics, according to research commissioned by the country’s largest hotel lobby.
Travel has a labor problem, but defining it is tricky. Market dynamics vary by location and time. At any given moment, London might be a harder place to hire hotel staff than Dubai, while a tech market crash might suddenly make California a good place for travel companies to source software engineers.