Hospitality Heroes of 2023: Leading Amidst Market Shifts

Hospitality Heroes of 2023: Leading Amidst Market Shifts

By Author

Published on December 27, 2023

As 2023 winds down, it's time to look back at a year that was both challenging and rewarding for the hotel industry. Despite some financial turbulence, the sector saw its fair share of success stories, with certain companies not just surviving but thriving.

The Year in Review: A Mixed Bag for Hotels

The hotel industry globally maintained a steady ship with an occupancy rate hovering near 63%. This was a slight decrease from 2019's 66%, but not too shabby considering the circumstances. Average Daily Rates (ADR) inched up by about 5%, touching around $155 USD.

Interestingly, group room nights bounced back impressively, somewhat offsetting the decline in domestic leisure travel. However, the transactions market hit a bit of a cold patch. The surge in federal funds rate, from less than 1% in early 2022 to 5.25-5.5% by late summer 2023, alongside some early-year bank failures, shook the investment world. This led to a 35% drop in transaction volume compared to the previous year.

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Regional Insights

  • United States: The U.S. saw a bit of softening in hotel fundamentals during the second quarter, as more Americans traveled abroad and international arrivals slowly recovered. However, modest growth in Revenue per Available Room (RevPAR) is expected in late 2023 and early 2024, thanks to improved business and group travel.

  • Caribbean: The region kept its momentum, with significant increases in visitor arrivals. New hotel projects are on the horizon for 2024, signaling investor confidence in the Caribbean market.

  • Europe: Driven by pent-up consumer demand, Europe's hotel sector showed signs of recovery, especially in the luxury and upscale segments. However, investment remained cautious due to higher debt finance costs.

  • Asia-Pacific: Domestic tourism made a comeback, but international visitors were slower to return. The Chinese market played a crucial role in boosting Hotel ADR in most areas.

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2023's Standout Performers

  • Marriott International Inc.: Leading the pack with a 22% year-over-year revenue increase to $23.541 billion, Marriott's diverse portfolio played a significant role in its resilience.

  • MGM Resorts International: Garnering $15.38 billion in revenue, a 22.15% increase, MGM benefited from its combination of resort and gambling services.

  • Caesars Entertainment Corp: Marking an 8.81% increase in revenue to $11.524 billion, Caesars' strategic expansion and entertainment offerings paid off.

  • Hilton Worldwide Holdings: Hilton's global presence and diverse brands helped it achieve a 23.33% revenue jump to $10.070 billion.

  • Hyatt Hotels Corp: With a focus on customer experience and expansion, Hyatt saw a 22.61% increase in revenue, reaching $6.595 billion.

  • Las Vegas Sands Corp: A staggering 114.3% increase in revenue to $8.574 billion, thanks to its entertainment diversification.

  • Galaxy Entertainment Group: A monumental 374% jump in net revenue to $9.7 billion, Galaxy leveraged its focus on the Asian market.

Looking Ahead to 2024

The outlook for 2024 in the hotel industry is cautiously optimistic. A slow start is expected, but momentum should build towards a strong finish. The U.S. might dodge a recession, and with potential Fed rate cuts, transaction activity could see an uptick in the hotel sector and beyond. The key will be adaptability and strategic positioning in an ever-evolving market landscape.


Raki Phillips to Lead Accor’s PME Division in Middle East, Africa & Türkiye

Raki Phillips to Lead Accor’s PME Division in Middle East, Africa & Türkiye

By Manu Vardhan Kannan

Published on August 2, 2025

Accor has appointed Raki Phillips as the new Regional President for its Premium, Midscale & Economy (PME) division across the Middle East, Africa and Türkiye, with effect from November 2025. Phillips will succeed Paul Stevens and oversee more than 250 operating hotels across 27 countries, along with a development pipeline of 85 new properties.

This leadership move comes after Phillips' impactful tenure as CEO of the Ras Al Khaimah Tourism Development Authority (RAKTDA). Under his leadership, Ras Al Khaimah witnessed a tourism boom, revenues tripled, international connectivity improved, and the region attracted its largest foreign investment with the Wynn Resorts project.

Bringing over 20 years of global hospitality experience, Phillips has held senior positions at renowned brands like Fairmont Raffles Hotels International, The Ritz-Carlton, and Universal Studios Orlando. At Fairmont, he played a key role in global brand strategy and spearheaded major projects, including the launch of the Fairmont, Raffles, and Swissôtel complex in Makkah.

In his new role at Accor, Phillips will report to Duncan O'Rourke, CEO of the Premium, Midscale & Economy division for Middle East, Africa and Asia Pacific. Commenting on the appointment, O’Rourke said, “Raki brings a rare combination of commercial agility, regional knowledge, and purpose-led leadership. His appointment reflects our long-term commitment to the region and our belief in the power of local leadership to drive impact.”

Phillips steps into the role after Paul Stevens, who spent nearly three decades with Accor and was known for championing operational excellence and values-driven initiatives like Purpose Week and ESG programs.

With more than 350 hotels currently in operation and 140 more in development, Accor’s PME division continues its robust expansion in key markets such as the UAE, Saudi Arabia, and Egypt. Phillips will be based in Dubai and oversee a diverse brand portfolio including Swissôtel, Pullman, Mövenpick, Novotel, Mercure, and ibis.


Schengen Visa Set to Go Fully Digital by 2028

Schengen Visa Set to Go Fully Digital by 2028

By Manu Vardhan Kannan

Published on August 2, 2025

The European Union is moving towards a fully digital Schengen visa system by 2028, bringing an end to traditional paperwork and visa stickers. Travellers will soon be able to complete the entire application process online, from uploading documents and paying fees to receiving a secure, encrypted 2D barcode that replaces the physical visa sticker.

France tested this digital system successfully during the 2024 Paris Olympics, issuing 70,000 barcode-based visas. Once fully implemented, travellers can scan the digital barcode at EU border checkpoints, giving immigration officials instant access to their personal and visa details via a centralised database.

While first-time applicants will still need to provide biometric data, such as fingerprints and photographs, in person, repeat visitors will benefit from a simplified and faster process.

The digital system aims to boost security, reduce paperwork, and streamline visa management across the Schengen area. Applicants will be able to track their application status online and receive notifications on their visa outcome.

To apply, travellers must first determine which country’s embassy to approach, typically based on the destination where they will spend the most time. Most Schengen states use VFS Global for processing in India, while Spain uses BLS International. France, meanwhile, has introduced an online appointment platform called Démarches Simplifiées.

Applicants must carry key documents such as a valid passport (with at least six months validity and two blank pages), visa form, photographs, travel insurance (minimum €30,000 coverage), confirmed flight and accommodation bookings, a cover letter, and proof of finances like recent bank statements or salary slips.

Visa fees remain at €80 for adults and €40 for children aged 6–12, with free applications for those under six. Additional service charges apply based on the chosen processing agency.

Applicants are advised to apply well in advance, ideally 30 to 60 days before travel. Certain embassies, such as those of Lithuania, Latvia, and Estonia, are known for quicker processing and lower rejection rates. Some, like Germany or France, may require a personal interview, especially in complex cases.

From July 1, 2025, Germany will no longer allow informal appeals on rejected visas; applicants will have to go through formal legal channels. Meanwhile, Indian nationals with two previously used Schengen visas within three years may now qualify for longer multi-entry visas of up to five years, as part of the EU’s new “cascade” rule.

Travellers are encouraged to check official EU visa portals regularly for updates.


Hyatt Regency Chennai Welcomes Pankaj Behl as Director of Rooms

Hyatt Regency Chennai Welcomes Pankaj Behl as Director of Rooms

By Nishang Narayan

Published on August 2, 2025

Hyatt Regency Chennai has announced the appointment of Pankaj Behl as its new Director of Rooms, a move that strengthens the hotel’s leadership team and reaffirms its focus on exceptional guest service and operational excellence.

Behl, with over 14 years of experience across leading hospitality brands including Hyatt, Marriott, IHG, Starwood, and Taj, brings with him a stellar reputation for enhancing service delivery, driving innovation, and mentoring high-performing teams. His past roles have seen him lead operations at flagship properties, contributing significantly to both guest satisfaction and brand positioning.

In his most recent role at Andaz Delhi and Hyatt Delhi Residences, Behl was responsible for 401 rooms and luxury serviced residences, supported by a team of over 150 associates. His leadership helped the property attain a 98% room cleaning YTD score, top-tier green zone audit results, and accolades such as Department of the Year and Leader of the Year (2022).

Currently also serving as the Area Guest Experience Specialist – West Region for Hyatt Hotels Corporation, Behl has been instrumental in implementing guest insight programs, enhancing CES and NPS metrics, and conducting hotel audits across 11 Hyatt hotels.

Speaking about his appointment, Behl said, “Joining Hyatt Regency Chennai as Director of Rooms is a proud milestone in my professional journey. I believe that every moment of the guest experience counts, and I look forward to leading a team that strives for excellence, consistency, and heartfelt hospitality at every touchpoint.”

Earlier in his career, Behl held senior roles at The Westin Sohna Resort & Spa, Crowne Plaza Today Gurugram, JW Marriott, The Leela, and Taj Bengal, where he led major operational improvements and championed training, sustainability, and guest satisfaction.

In his new role, Behl will oversee front office, housekeeping, guest services, and residences, with a clear focus on service excellence, workflow enhancement, and building a team culture rooted in care, accountability, and memorable guest experiences.

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