Stephanie Linnartz

Fantastic job of execution by the #HGV finance team! The recent $375 million dollar securitization has several glimpses of the new normal in today’s environment. Of note, there were 4 classes of notes issued. A,B,C and D. The blended overall weighted coupon average was 5.68%. The impressive parts of the transaction were that they received a 99% advance rate with peak oversubscription of 5.2x. They also achieved the tightest AAA spread in the timeshare ABS markets since March of 2022. There were over 60 orders from more than 30 unique investors. Showing the continued demand for timeshare receivables in the ABS markets. https://lnkd.in/ePhQ2Yjq

81

Thanks, BBC Travel, for including my thoughts in your recent story on why the US consistently ranks as one of the best countries in the world for travel and tourism. "According to Abelson, US-based visitor bureaus and destination management organisations also tend to have robust information hubs that are supported by a strong digital presence. "Training and education for tourism professionals have been evolving in response to industry needs and trends," she said. The pandemic accelerated trends like travel tech adoption (think: room service robots), and new technologies like AI are expected to change how travellers research and book travel – and the US typically has an edge as an early technology adopter and risk-taker when compared to other countries. Training has also been bolstered by industry support, especially by organisations like Brand USA and the (USTA) United States Tennis Association, which work to promote the United States as a top travel destination and communicate visa and entry policies." Angie Kamath, Nicolas G. NYU SPS Tisch Center of Hospitality NYU School of Professional Studies #travel #tourism #destinationmarketing #traveltrends #upskilling #hospitality #traveltechnology

36

4 Comments

Thanks to the Coresight team and Amazon for hosting the #nextgenconference this week in NYC. Many great panel discussions with Ai at the fore and how more robust forms like generative Ai will transform retail in 3-5 years. Most retailers are still on the margins with consensus that taking deliberate steps in the process is important while maintaining the long terms goals of organization. Data is king and it’s proliferation can be generated and managed with tools that are still being applied and understood. #deborahweinswig Aapya Solutions – Vision 37

7

1 Comment

Bisnow's New York Hotel & Hospitality Conference shed light on the resurgence of hotels and future development trends. Hotels are showing inflation resiliency thanks to daily inventory turnover and growing ADR. Capital has become more expensive, but liquidity is available from private equity firms and alternative sources. Next to class A, hotels are increasingly viewed as more desirable than office buildings. Leisure travel is back, exceeding pre-pandemic levels, while business travel has shifted towards retreat-style gatherings. Overall occupancy is still slightly below 2019 levels; however rate has significantly exceeded peak levels. The next 5-7 years look promising for current hotel owners due to constrained supply and robust demand. New York hotel developers face significant challenges in development financing and regulatory permitting affecting new projects. Hotels that focus on bespoke experiences and storytelling are attracting discerning clientele. Brands are playing a critical role in driving visibility and loyalty, with a shift towards less intensive luxury services like QR codes, touchless check-in, and human touch complimented by AI. The market is adapting with new financial strategies and increased interest from institutional investors.

18

Jake Wurzak joins me on Slick Talk today to talk all things hotels, hospitality asset management, capitalizing to grow the business, and so much more! If you didn't have enough podcasts to listen to, Jake also has his show, Masters of Moments. He shares tons of insights and has amazing guests on to talk more in-depth about hospitality capital and real estate! I know many of you Unreasonable Hospitality fans are wondering, what about the hospitality portion of the business? Well, I asked Jake that exact question, and he gave a pretty good answer! Make sure to tune in! https://lnkd.in/grU3sPt2

23

6 Comments

How is American Express driving new growth using strategic renewal? By focusing on dining. With the Cobalt card, Resy and now Tock, they are leveraging the desire to dine to create new growth. The American Express platinum card was launched the same year I was, 1984. It had a long run as THE premium card in the market. Over the past couple years, has been challenged by Chase Sapphire and Visa Infinite Privilege, amongst others. All of these cards have competing on a shared understanding that the consumer valued one thing: status. Amex has decided to reframe what status means for it's customers. Status means access. In their case, access to dining experiences. By moving into the reservation based dining space, they can use their owned platforms to provide benefits to Amex membership that other card companies can not compete with. The Global Dining Access program is like airline status but for restaurants. Exclusive reservations, priority notifications and special events. With the addition of Tock, they get more exposure to higher end dining experience and tasting menus. What Amex is doing is building value in their card ecosystem that can not be easily replicable. Centurion Lounges were great. Now there are Chase Lounges. Airline points? Everyone has them. Access to Alinea, Blue Hill at Stone Barns at Per Se? A little bit of a tougher ask. https://lnkd.in/gkHHarrt

5

This is a good summary of overall U.S. hotel sales activity in the past quarter. Also note the "key corporate moves", a helpful summary of some important changes that took place in the industry. #hotelsales #hoteldata

3

Great article recapping the CEO panel at the NYU Conference. Even with the slow pace in deal making the tune seemed optimistic around the long term outlook of the industry. One of my favorite quotes was from Hilton CEO Chris Nassetta 👇 "We spend too much time on quarter-to-quarter results as we are all in this for the long haul... People want to see the world and experience things. Everyone has greater mobility, there is better infrastructure and people have more flexibility in their work lives. The undercurrent of the hotel industry is as good as any in terms of size, scale and growth rate." #investing #sales #hotel #hospitality #commercialrealestate #cre #realestatenbusiness #realestateagent #realestatefinance #realestate #propertysales #hotelsales #hilton #marriot #choicehotels

4

A compelling case study highlights how Rocco Forte Hotels has harnessed the advanced analytics and intelligence of HotelIQ Decision Cloud to unlock new growth opportunities. This testament to the impact of HotelIQ by Intelligent Hospitality showcases its role in driving clarity, insights, and confidence in strategic decision-making. The platform's power is even more pronounced when utilized by industry leaders like Amy Stevens, a distinguished figure in #RevenueManagement. Jan Arnold, Sameer Umar, Estella Hale, Firas Moolla

15

Insightful interview with Dana Jacobsohn, Chief Development Officer, U.S. Luxury Brands and Global Mixed-Use and Hotel News Now, on how the branded residences segment continues to fuel Marriott's overall growth. Dana highlights that there is a notable shift in the buyer demographic towards younger adults and young families. Marriott has adapted to these evolving trends by enhancing amenities at the properties to meet the needs of these younger demographics. Additionally, younger buyers are increasingly drawn to lifestyle-oriented brands like W Hotels, known for its bold food and beverage offerings and rooftop bars. For instance, the soon-to-open W Residences Manchester is now 80% sold. If you're interested in learning more about Marriott's branded residence business and how we cater to diverse buyer needs, please get in touch. #marriottdevelopment #brandedresidences

51

I've been attending the NYU hospitality conference for years, but this was my first as an investor 😎 Inspired by this industry more than ever. A few takeaways: The role of capital is so important in everything we do in hospitality. I tend to cover more operations, but as you probably well know, what you can do in operations is heavily influenced by owners and investors, so I want to stay very close to what’s happening in that world. Ernst & Young presented market research data showing how political risk is now a top concern for executives and that recession fears have faded. That's somewhat interesting, but I don’t find it all that practical because there’s always risk in the world, and cycles come and go. So much is outside of our control. What is within our control? Much of this is in my favorite topic: operations 🙂 Michael Grove at HotStats made the interesting observation that in the US we haven't been as creative with our hospitality business models and operations because RevPAR recovery has been fast after the pandemic. There's a lot we can learn from Europe on this. Organizations like The Social Hub are leading the way on showing what innovation looks like. Data from EY also showed that a top priority for hospitality leaders now is building a strong customer base through a differentiated experience for loyal customers. This matters regardless of the state of the economy and requires knowing your guests well so you can provide that differentiated experience. That means better ways of interacting with them and better ways of storing and using data from those interactions. (I work with Sojern on this, and they are doing good things in this area.) Talk of AI was everywhere, but we're still in the early days of seeing meaningful implementations. My favorite remarks on this were from Best Western CEO Larry Cuculic who said we all should use AI to evaluate our own performance and give unfiltered feedback and suggestions for improvement. I like the power and potential of this: we all have the ability to play "Moneyball" with our own careers and businesses. I talk about all of this more on the Hospitality Daily podcast today if you'd like more... Overall, this is a huge growth industry. There's been a massive shift in consumer spending to experiences (hospitality!) and that's expected to be durable. More people are living longer, healthier lives and want to travel. Emerging economies are opening up massive new markets of demand. Hospitality job growth will likely outpace other industries for decades to come. There's never been a better time to be working and building in hospitality than right now. Congrats to Alexi Huntley Khajavi and the whole Questex team for a great production with #NYUIHIIC24 this year! 🎧 Listen to the Hospitality Daily Podcast on Spotify or Apple Podcasts 👉 Get my daily email at HospitalityDaily.com

216

26 Comments

Most sub-scale hospitality companies are both thinly capitalized and have large overlap with peer companies. As cost of capital remains high, expect more mergers/consolidation in this space.

34

Occupancy (basically rent), is typically a fixed amount, whether you're open for dinner only, or 3+ day parts (breakfast, lunch, dinner, late night). However a venue can drive incremental revenue (a lesson learned from COVID), we should surely consider. The goal is not only to drive revenue, but hopefully profit as well. So, we should all consider how to use "unused" hours of the day to drive more traffic, hence "Snack Time", whether for in-house, or on the go. In this article with Restaurant Dive, I offer my thoughts. I welcome yours! #restaurantmanagement #snacktime #restaurantbusiness Institute of Culinary Education

12

What's bigger than AI in 2024? Scott Galloway has some thoughts on that...and more. https://lnkd.in/dFi-PsS3 I've long admired Scott Galloway and recently had the chance to meet him in person. As a professor at NYU and a renowned thought-leader, Scott is known for his bold predictions, sharp insights, and often delightful irreverence. In this post, I dive into his provocative predictions for 2024: from TikTok's growing dominance and AI's peak valuations to a revolution in healthcare and the hidden threat of loneliness. Join the conversation and see how these trends might shape our future. #FutureTrends #ScottGalloway #AI #Healthcare #TikTok #2024

110

4 Comments

72% of Americans wish for more memorable summer outings, yet they averaged just 1.6 vacations last year. With 67% agreeing shorter trips are more restful, we're keeping a keen eye on properties that cater to these "daycations" and local getaways. Adapting investment strategy to consumers' everchanging travel habits is not optional. #HotelInvesting #TravelTrends #RealEstateInvesting

3

Unlocking the power of collaboration Yana Kyrylyuk joins Noelani (Berkholtz) Schroy of LodgIQ on the latest episode of Commercial Strategy Obsession to discuss her thesis, "Inside the black box of collaboration: commercial strategy teams in the hotel industry." 𝘋𝘰��𝘯𝘭𝘰𝘢𝘥 𝘠𝘢𝘯𝘢'𝘴 𝘳𝘦𝘴𝘦𝘢𝘳𝘤𝘩 𝘪𝘯 𝘵𝘩𝘦 𝘭𝘪𝘯𝘬 𝘪𝘯 𝘵𝘩𝘦 𝘤𝘰𝘮𝘮𝘦𝘯𝘵𝘴. Here's a breakdown of Yana's research: 1. Definitions and Terminology: Yana explains different ways teams can work together: - cooperation - coordination - collaboration - integration She emphasizes the need for clarity in these terms. 2. Challenges in Collaboration: She discusses the challenges of collaboration, noting it is time and resource-intensive and should be used only for complex tasks. 3. Groups vs. Teams: Yana differentiates between groups and teams, stating that team success depends on working together, unlike groups. 4. Foundational Elements of Collaboration: She identifies three key elements for effective collaboration: - emotionally safe environment - education - alignment. 5. Commercial Strategy Team Variations: There is no uniform structure for commercial strategy teams, with different organizations having different compositions and roles. 6. Technology as a Hindrance: Every interviewee mentioned technology as a significant obstacle in commercial strategy, often requiring manual workarounds.

15

5 Comments

Great recap of the #keynote with my fellow #commercialstrategy leaders Lori Kiel and Gissell Moronta at HSMAI from CoStar Group ‼️ Key Quotes: ➡️ From Lori Kiel : "Each of the three fields...thrive on "mutual respect...That requires trust and vulnerability, two words that do not come easy...The "core" of commercial strategy is understanding and developing the various expertise included in it." ➡️ From yours truly: ""If we wait to use marketing in the booking window, it's too late. We really need to focus on the full planning window to make a substantial, long-term impact on our commercial strategy goals. So don't come to marketing halfway through the month and say 'We're short.'" ➡️ From Gissell Moronta: "..Alignment of goals and continual upskilling and training for the three disciplines are key for broad success...If we continue to be measured by our individual impact, we will never build a commercially focused organization." Sean McCracken You #nailed it, love the takeaways and highlighted #quotes! https://lnkd.in/eMPSJemX

33

13 Comments

Great article in Forbes on Enterprise Mobility. Some great quotes from many amazing leaders giving insights on how Chrissy is driving our business forwards as our CEO. Dan Wessel discusses our strategic initiatives and the impact of Enterprise Mobility Ventures on our future. #enterprisemobility

39

The Tax Relief for American Families and Workers Act of 2024 has the potential to provide tax relief for hoteliers nationwide. This could "incentivize investments in renovations and property upgrades." That means upgrades available to hotel owners could increase, and create more jobs. Helping to work against inflation risks, let's hope this bill is passed shortly. #Hospitality #HotelInvesting

2