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.


Hilton Debuts Flagship Property in Kathmandu: A New Landmark for Luxury Hospitality

Hilton Debuts Flagship Property in Kathmandu: A New Landmark for Luxury Hospitality

By Nishang Narayan

Published on July 27, 2024

Hilton (NYSE: HLT) is excited to unveil Hilton Kathmandu, marking its entry into Nepal and expanding its presence in the Indian subcontinent. Nestled in Naxal, just four kilometers from Tribhuvan International Airport, the new flagship hotel is ideally situated near popular attractions like Thamel and Durbar Marg, making it a prime choice for both business and leisure travelers.

A Blend of Heritage and Modernity

Hilton Kathmandu, the tallest hotel in the city, is a marvel of contemporary architecture and design. Its striking glass façade, inspired by traditional Nepali prayer flags, features vertical fins that change color with the light. The hotel’s interior incorporates intricate patterns of Nepali Dhaka fabric, creating a unique blend of local heritage and modern luxury. With rooms and presidential suites offering breathtaking views of the Langtang Valley’s mountains, Hilton Kathmandu ensures an unforgettable stay for its guests.

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A Statement of Excellence

Alexandra Jaritz, Senior Vice President, Brand Management, Asia Pacific, Hilton, commented, “Hilton has a long history of pioneering international hospitality. Hilton Kathmandu stands as a landmark for the city’s discerning guests, immersing them in Nepal’s rich history and culture against the stunning backdrop of the Langtang mountains.”

Prime Location and Local Integration

The hotel’s central location offers easy access to the vibrant Thamel district, known for its cafes, pubs, and entertainment options. It is also conveniently close to Kathmandu’s cultural sites, including the Narayanhiti Palace Museum and Durbar Marg.

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Exceptional Dining and Amenities

Hilton Kathmandu features five distinctive dining venues, including:

  • THE LAVA BOX and HAVA: Offering quick meals and relaxed bistro dining at the lobby level.

  • ASA: A live cooking station on the 13th floor where chefs create personalized dishes.

  • ORION: A rooftop bar with stunning views transitioning from day to night.

  • LYRA: The pool bar on the rooftop, perfect for alfresco dining and drinks.

Commitment to Sustainability

In line with Hilton’s sustainability goals, the hotel incorporates eco-friendly practices, including EV charging stations and a green fleet of electric vehicles. The building’s seismic-resilient infrastructure ensures a secure and environmentally conscious stay.

Hilton Honors Benefits

As part of Hilton Honors, the award-winning guest loyalty program, Hilton Kathmandu offers members exclusive benefits such as flexible payment options, discounts, and free standard Wi-Fi. The Hilton Honors mobile app enhances the guest experience with convenient check-in and room selection features.

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Future Expansion

Hilton Kathmandu joins nearly 90 Hilton Hotels & Resorts across Asia Pacific, with recent additions including Hilton Singapore Orchard and Hilton Saigon. Future openings are planned in Shanghai, Hyderabad, and Kyoto.

For more information, visit Stories from Hilton.

Location: Hilton Kathmandu, Thirbam Sadak, near Bhagwati Bahal, Naxal, Kathmandu 44600, Nepal.


Lilac Hotels Opens in Kumbakonam: Tamara Leisure’s Third Property in Tamil Nadu

Lilac Hotels Opens in Kumbakonam: Tamara Leisure’s Third Property in Tamil Nadu

By Nishang Narayan

Published on July 27, 2024

Tamara Leisure Experiences is excited to unveil its latest venture, Lilac Hotels in Kumbakonam, Tamil Nadu. This new addition to the brand’s portfolio marks their third property in the state and strengthens their presence in pilgrimage destinations across South India.

A Cultural Haven

Kumbakonam, renowned for its 188 temples, offers a serene backdrop for the new hotel, adding to the city's rich cultural tapestry. The grand inauguration featured a ceremonial lamp-lighting by Shruti Shibulal, CEO and Director of Tamara Leisure Experiences, followed by a brand presentation by Hotel Manager V. Unnikrishnan. This launch highlights Tamara’s commitment to affordable yet exceptional hospitality experiences.

Expanding Horizons

Shruti Shibulal expressed enthusiasm about the new property, stating, “As a group, we have remained highly optimistic about the travel market in India. We are committed to expanding our presence in key pilgrimage towns. Lilac Hotels, our mid-segment brand, is perfectly suited for families and groups visiting these religious and historic sites. We are delighted to unveil Lilac Hotels Kumbakonam as our third property in Tamil Nadu and ninth in India.”

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Hotel Highlights:

  • Location: Centrally located in Kumbakonam, just 1 km from the railway station and close to major temples such as Navagraha Temple and Kasi Vishwanatha Temple.

  • Rooms: The hotel features 27 Executive rooms, 13 Premium rooms, 4 Elite rooms, and 1 suite, all designed for spacious family accommodation.

  • Decor: The hotel’s architecture and interior design are inspired by the local heritage of Kumbakonam.

  • Dining: Kesar by Lilac, the 80-seater signature restaurant, offers local delicacies and the renowned Kumbakonam Degree Coffee.

  • Banquet: Utsava, the banquet hall, is ideal for small gatherings and ceremonies, accommodating up to 60 guests.

Community and Authenticity

Tamara Leisure Experiences takes pride in employing a predominantly local workforce, fostering strong community ties and boosting the local economy. This approach ensures guests receive an authentic and culturally rich experience.

The launch of Lilac Hotels in Kumbakonam marks a significant milestone for Tamara Leisure Experiences, enhancing their portfolio with the fourth Lilac property in South India and reinforcing their dedication to exceptional hospitality in key spiritual and cultural destinations across India.


Shivneet Pohoja Appointed Executive Chef of ITC Maurya

Shivneet Pohoja Appointed Executive Chef of ITC Maurya

By Nishang Narayan

Published on July 27, 2024

ITC Maurya proudly announces the appointment of Shivneet Pohoja as its Executive Chef. With a distinguished career spanning over two decades at ITC Hotels, Pohoja is set to elevate the hotel's culinary experiences to new heights.

A Culinary Maestro

Pohoja's illustrious career includes managing a portfolio of award-winning food and beverage outlets and bespoke banqueting. As an alumnus of the ITC Hospitality Management Institute, he has honed his skills across various acclaimed dining destinations in India, including Yi Jing, Pavilion, Ottimo at West View, and Peshawri. His specialization in sustainable Indian cuisine, including farm-to-fork and plant-based options, will bring a fresh perspective to ITC Maurya.

Elevating Dining Experiences

In his new role, Pohoja will lead a team dedicated to curating exquisite menus that celebrate indigenous cooking techniques while integrating global influences. His focus will be on enhancing ITC Maurya's dining offerings, ensuring that they continue to set the benchmark for luxury dining in the region.

A Vision for Excellence

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Amaan R Kidwai, Area Manager Luxury Hotels (North) and General Manager of ITC Maurya, expressed enthusiasm about Pohoja's return. "We are thrilled to welcome Chef Shivneet Pohoja back to ITC Maurya. His exceptional culinary talent and unwavering commitment to excellence perfectly align with our ethos of delivering consistent gastronomic experiences. Under his leadership, we are confident that ITC Maurya will continue to set the standard for culinary excellence in the region."

With Pohoja at the helm, ITC Maurya is poised to continue its tradition of culinary excellence, offering guests a unique and memorable dining experience.

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