During my first night at Le Royal Monceau - Raffles Paris in June, I noticed something was amiss. The large chair in the corner had been slightly repositioned, the curtains were drawn, and the bed looked tidier than I left it earlier that day.
02.10.2023 - 17:15 / skift.com / Sean Oneill
Generator Group, which owns or runs 21 hotels, gave a financial update on Monday that underscored the post-pandemic boom in travel.
London-based Generator Group forecasted that it’s on track to produce revenues of about $238 million (€225 million) this year — which would represent a 25% jump over the company’s revenue in the pre-pandemic year of 2019.
The privately held company anticipates this year it will produce earnings before interest, tax, depreciation, and amortization of about $80 million (€75 million). That would represent a 50% jump in earnings compared with 2019 — highlighting strong pricing power in so-called “compression,” or high-demand, markets.
Private equity firm Queensgate Investments bought Generator for $480 million (€450 million) in 2017, and the group’s flagship brand is Generator, a set of premium economy hostels. Queensgate spent about $400 million in 2019 to acquire Freehand Hotels, which operates properties in New York, Chicago, Los Angeles, and Miami, and folded that into the group.
Generator said it has nearly 12,000 beds in ten countries. It told the Financial Times, “in the next year, it is planning to launch 10 more sites worldwide under an asset-light model where it does not own the long-term lease, including a new hostel in Bangkok.”
Queensgate is a part or whole owner of nine Generator-run properties. Generator also acts as a management company for other hostels.
For more context on Generator’s strategy, watch the interview with its CEO from last year’s Skift Global Forum East (below) or read Skift’s piece Generator’s Takeover of Paramount Hotel in Times Square Is Part of Broader Hostel Reboot.
During my first night at Le Royal Monceau - Raffles Paris in June, I noticed something was amiss. The large chair in the corner had been slightly repositioned, the curtains were drawn, and the bed looked tidier than I left it earlier that day.
The global travel industry is on an upswing, with all regions registering growth over the previous month, according to the Skift Travel Health Index: September 2023 Highlights. The Skift Travel Health Index stands at 106, three points higher than August 2023 – a new record high.
United Airlines executives outlined third-quarter earnings results in an October 18 conference call. Here are six of the most interesting takeaways.
Langham Hospitality Group is a global luxury hotel company with 25 luxury hotels and 7 other hotels. Some context:
When German teacher Richard Schirrmann converted a former classroom to accommodate young travellers on a budget in 1909, no one could have predicted the global movement he would inspire. Three years later, Schirrmann bought a castle near Dortmund to establish the world’s first youth hostel and by the 1920s, Germany had 2,000 low-cost hostels dotted around its rural areas. But it wasn’t until a group of Brits brought the idea back to the UK and launched the Youth Hostels Association (YHA) in 1930 that the new movement gained its poster child.
Unless you’re inheriting family vineyards—or celebrating an IPO windfall—Napa Valley isn’t the most affordable place to start a wine brand. And when Malek Amrani created The Vice in 2016 he had neither of those—just a vision that placed equal focus on both his passion and business approach. The Vice concentrates on single-vineyard and single-varietal wines from 15 of Napa’s 16 AVAs, has a line of orange wines and bottles that begin as low as $29, far below the average price for the region. Amrani has also just been appointed to the Board of Directors of Napa Valley Vintners—quite a journey for someone who came to New York as a teenager from Morocco. I spoke with Amrani about his love of Napa, his sales-first approach to winemaking and why orange wine may be here to stay.
Prime Day is an excellent time of year for travelers to save on luggage, electronics, clothing, and sneakers, too. We've rounded up the best Prime Day sneaker deals from brands you know and love—New Balance, Adidas, Asics, Reebok, and more—all available to score during Amazon's Prime Big Deal Days. If you're in need of a fresh pair of kicks for walking, running, or everyday wear, we've got you covered. There are steep discounts on plenty of comfortable, versatile, and lightweight options for travelers, whether you're looking for a stylish pair of dad sneakers or a supportive performance pair for your next destination run.
Chase cardholders should check their accounts for a generous new travel offer.
If you’re planning a camping trip to the great outdoors, now is the perfect time to check out the top Amazon Prime Day camping deals. Travelers can save on all the outdoor gear you'll need for your next adventure. In case you need a quick refresher, Amazon Prime Day is a 48-hour sales event where Prime members can save on products across all categories, including luggage, shoes, outdoor gear, home goods, and more. Amazon is calling its October savings event Prime Big Deal Days, and the sale runs through today, October 11.
Southern California has a distinctive atmosphere. Sun, beach, ocean, and no shortage of experiences that get you out into all three make any trip to the state memorable. That’s seen perfectly in Oxnard at Zachari Dunes on Mandalay Beach, a Curio Collection Hotel by Hilton.
Prime Day is an excellent time of year for travelers to save on luggage, electronics, clothing, and sneakers, too. We've rounded up the best Prime Day sneaker deals from brands you know and love—New Balance, Adidas, Asics, Reebok, and more—all available to score during Amazon's Prime Big Deal Days. If you're in need of a fresh pair of kicks for walking, running, or everyday wear, we've got you covered. There are steep discounts on plenty of comfortable, versatile, and lightweight options for travelers, whether you're looking for a stylish pair of dad sneakers or a supportive performance pair for your next destination run.
If you’re planning a camping trip to the great outdoors, now is the perfect time to check out the Amazon Prime Day camping deals. You’ll be able to save on all the outdoor gear you'll need for your next adventure. In case you need a quick refresher, Amazon Prime Day is a 48-hour sales event where Prime members can save on products across all categories, including luggage, shoes, outdoor gear, home goods, and more. Amazon is calling its October savings event Prime Big Deal Days, and the sale runs from Tuesday, October 10 through Wednesday, October 11.