⚡ Hotel Transformations Soar to Record Levels

⚡️ Top Hotel News

📈 Hotel Transformations Soar to Record Levels

⚡ In 2023, a staggering 12,713 new apartments emerged from the ashes of dormant structures, while an additional 151,000 units were in the process of conversion – a 24% increase from the 122,000 projected in 2022. Read More.

🔑 Hotel Financial Executives Pinpoint Poor Management as Key Driver of Industry Distress

⚡ Kevin Gallagher, senior director at Trimont, emphasized that despite predictions of significant post-pandemic hotel distress, the current limited distress is mainly attributed to operational missteps, highlighting the critical role individuals play in determining financial outcomes for hotels as operational businesses. Read More.

🏨 Aermont, Owner of Pinewood Studios, Among Potential Buyers for £850m Village Hotels

⚡ The primary investor behind Pinewood Studios is among the contenders competing to acquire Village Hotels, one of the UK's largest mid-market hotel chains. Read More.

🚨 700 Union Workers Strike 48 Hours at Virgin Hotels Casino Near Las Vegas Strip

⚡ Approximately 700 workers initiated a 48-hour strike at a hotel-casino near the Las Vegas Strip. Union organizers stated that they had been negotiating for months to secure a new five-year contract with Virgin Hotels. Read More.

💡 Preferred Hotels Introduces New Portal for Travel Advisors

⚡ During the 2024 Global Conference, President Michelle Woodley of Preferred Hotels unveiled the announcement. Woodley explained that the portal will offer a user-friendly interface allowing advisors to access rates, book accommodations, and manage reservations seamlessly. Read More.

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