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By Author
Published on January 12, 2024
Forget the rigid office confines and say hello to workation: the hottest trend blurring the lines between work and vacation. Imagine swapping your daily commute for a stroll along a sandy beach, trading in fluorescent lights for the warm glow of a tropical sunset, and collaborating with colleagues over piña coladas instead of stale coffee. That's the workation life, and it's taking the world by storm.
What is Workation?
Workation blends remote work with travel, allowing professionals to relocate to inspiring destinations, often in the company of fellow remote workers, and experience new cultures while fulfilling their work commitments. This trend is fueled by the rise of remote work opportunities, advancements in technology, and a growing desire for work-life balance and meaningful experiences.
Benefits for the Working Soul:
Boosted Productivity: Studies show that workations can actually increase productivity by up to 30%. The change of scenery, reduced stress levels, and increased motivation contribute to sharper focus and a more creative mindset.
Work-Life Harmony: Workation removes the rigid work-life separation, allowing you to integrate work seamlessly into your exploration of a new place. Imagine taking a midday break for a surf session or attending a local workshop – the possibilities are endless!
Networking and Community: Many workation hubs cater specifically to remote workers, offering co-working spaces and social events. This fosters a sense of community and provides valuable networking opportunities with like-minded individuals from around the globe.
Personal Growth: Immersing yourself in a new culture broadens your horizons, challenges your perspectives, and teaches you valuable life lessons. Workation can be a catalyst for personal growth and self-discovery.
Besides, the workation boom is a boon for the hospitality industry, opening up new markets and driving demand for destinations beyond traditional tourist hotspots. Hotels, resorts, and co-living spaces are adapting to this trend by offering dedicated workcation packages, co-working facilities, and wellness amenities.
Extended Stays: Workationers typically stay longer than traditional tourists, leading to increased revenue and occupancy rates for hospitality providers.
Diversification: Catering to workationer needs allows hotels to attract a new demographic and diversify their offerings, making them more competitive in the ever-evolving travel landscape.
Local Development: Increased tourism revenue from workationers can benefit local communities through job creation, infrastructure development, and support for small businesses.
Workation is more than just a trend; it's a shift in how we work, travel, and experience the world. It's about finding personal fulfillment in a flexible and enriching environment. So, are you ready to work from paradise? Start planning your workation today and discover the joys of blending work and adventure in ways you never thought possible.
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By Manu Vardhan Kannan
Published on January 17, 2025
JLL's Capital Markets group has announced the successful arrangement of a $300 million refinancing for the Omni Nashville Hotel, an 800-key luxury property located in the heart of downtown Nashville. The refinancing was secured on behalf of TRT Holdings, Inc., the hotel’s parent company, through a fixed-rate, seven-year loan facilitated by a U.S.-based insurance company and AllianceBernstein Commercial Real Estate Debt.
A Prime Destination
The Omni Nashville Hotel, a 21-story property seamlessly integrated with the Country Music Hall of Fame and Museum, is celebrated for its prime location at 250 Rep. John Lewis Way South. Opened in 2013, the hotel offers over 80,000 square feet of meeting space, including Nashville's largest hotel ballroom at 23,800 square feet. Its amenities include multiple dining options such as Bob's Steak & Chop House, a rooftop pool, the Mokara spa, and a state-of-the-art fitness center.
Strategic Importance
The property is positioned across from the Music City Center convention facility, which spans 2.1 million square feet. Nashville, one of the top-performing lodging markets in the U.S., draws over 14 million annual visitors, bolstered by both booming tourism and a growing corporate sector.
Expert Insights
Commenting on the financing deal, Kevin Davis, Hotels & Hospitality Group Americas CEO at JLL, said, “The Omni Nashville exemplifies the strength of Nashville's hospitality market, consistently ranking at the top of its competitive set for RevPAR. With its irreplaceable location next to Music City Center and high-quality amenities, the property is well-positioned to continue its market-leading performance as Nashville experiences tremendous growth in both leisure and business travel demand.”
About the Stakeholders
TRT Holdings, Inc., the Dallas-based parent company of Omni Hotels & Resorts, has been a leader in hospitality and real estate since its founding in 1989. AllianceBernstein (AB), a global investment management firm, played an advisory role in securing the loan through Equitable Financial Life Insurance Company.
JLL’s Market Expertise
JLL, a Fortune 500 company and a global leader in commercial real estate and investment management, has a proven track record in delivering tailored capital solutions. With a team of over 3,000 specialists worldwide, JLL continues to shape the future of real estate.
This $300 million refinancing underscores the robust growth trajectory of Nashville’s hospitality sector and reaffirms the Omni Nashville Hotel’s position as a key player in the market.
Published on January 16, 2025
Zoomcar Holdings, Inc. has achieved a milestone in its financial performance, reporting its highest-ever unaudited and unreviewed contribution profit for December 2024. The provisional financials for the month indicate a profit of USD 494,506, marking a significant achievement in covering operational costs in India, the company's sole market.
This accomplishment underscores Zoomcar's focus on operational excellence and sustainable growth, driven by a strong surge in consumer demand. Compared to December 2023, bookings grew by 17 percent, showcasing the increasing popularity of Zoomcar’s car-sharing platform among Hosts and Guests.
Consistent Financial Turnaround
Zoomcar’s financial trajectory over the past year reflects remarkable improvement. Key milestones include:
A contribution profit of USD 0.46 million (20 percent) in Q1 FY 2024-25, recovering from a loss of USD 1.2 million (-45 percent) in Q1 FY 2023-24.
A record quarterly contribution profit of USD 1.21 million (54 percent of revenue) in Q2 FY 2024-25, a stark improvement from a loss of USD 0.12 million (-5 percent) in Q2 FY 2023-24.
December 2024’s unaudited and unreviewed profit continues this streak, with four consecutive quarters of contribution profit growth.
CEO's Remarks on the Milestone
Hiroshi Nishijima, interim CEO of Zoomcar, highlighted the significance of this achievement, stating, “Achieving a record contribution profit in December 2024, our peak seasonal demand month, and covering operational costs reflect that our business fundamentals are on track. By prioritizing customer experience, we’ve cultivated an organic flywheel of growth through repeat bookings and Host retention while minimizing marketing and discount spend.”
He further added, “With improved profitability, we are committed to reinvesting in enhancing the customer journey and launching innovative products that add value to our community.”
The Path Ahead
Zoomcar’s record-breaking performance highlights its robust business model and growing consumer appeal. As India continues to embrace car-sharing solutions, the company is poised to capitalize on its momentum, paving the way for sustainable and profitable growth in the automotive sharing space.
A solid waste treatment facility established by the Goa Waste Management Corporation (GWMC) in Saligao village is proving to be a game-changer for the state's tourism belt, effectively processing 250 tonnes of waste every day. Since its inception in 2016, the facility has become a key player in both managing waste and generating energy from it, benefiting the state’s environment and tourism sector.
According to Dr. Sharad Kale, advisor to the Goa government on solid waste management, the plant is an exceptional example of waste-to-energy innovation. “The plant processes 250 tonnes of waste daily, including 125 metric tonnes of dry waste and an equal amount of wet waste sourced from restaurants and households around North Goa,” Kale explained.
The plant's output is impressive, producing 1.02 megawatts of electricity and 7,000 cubic metres of cooking gas daily from the biodegradable waste. These by-products are critical in powering the facility and supporting local energy needs. Additionally, the plant produces 20-30 tonnes of manure each day, which is distributed to nearby panchayats for gardening and forestation projects.
Goa’s Path to Sustainability
Under the guidance of Goa Chief Minister Pramod Sawant and Prime Minister Narendra Modi, the waste management facility is helping the state progress towards its vision of "zero waste." The plant has integrated recycling processes for dry waste, including plastic and glass bottles. “Around 28-30% of the dry waste is recycled, with plastic bottles shredded into fine powder and sent for manufacturing, while discarded glass is sent to Aurangabad for recycling,” Kale noted.
With its impressive ability to produce 22 by-products from the dry waste, the plant has set a record in waste management. The vision for the future is clear: to make Goa a leader in waste management and sustainability.
Meeting Seasonal Demands
The facility operates year-round, with a surge in activity during the festive season. The plant’s capacity is stretched to process 150-200 tonnes of waste during peak times, ensuring that the waste is treated within 24 hours to maintain cleanliness and sustainability in the region.
Gargi Raote, head of the treatment plant, shared that the electricity generated from the wet waste is used to power 35 units at the facility. “Fifty percent of the electricity is used for plant operations, and the remaining is supplied to the state electricity department,” Raote added.
The Goa Waste Management Corporation’s initiative is an inspiring example of how waste can be effectively managed while contributing to energy production and sustainability. This facility is not just managing waste; it is powering Goa’s tourism industry and supporting the local community in a more sustainable way.
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