Top 5 Ways Travel and Expense Management Solutions Can Help Companies

A recent study stated that the travel industry faced an estimated $519 billion loss in 2020 due to the pandemic. Some of the challenges that most companies came across are managing travel expenses, maintaining travel and expense process flow, using the right expense management solutions, and more. As the travel industry is getting back in business, it is overcoming challenges sturdily.

To simplify travel and expenses process flow, managers need instant and effective travel and expense management solutions to organize travel plans, submit expense reports, and control overspending on their travels. Before you dive into details about solutions that can improve the travel and expenses process flow and logistics of your company, here is a brief about travel and expense management solutions.
 

An Overview: Travel and Expense Management Solutions

Travel and expense management solutions are only relevant businesses that need to control the travel-related expenses of their employees. These solutions help you in understating the integrated spend data and deliver a better user experience. Other than this, these solutions can also help with:
  • Making clearer and smarter data-driven decisions

  • Encouraging policy compliance automatically into travel and expense process flow
  • Saving time to collect data from expense reports automatically
  • Simplifying budgeting
  • Forecasting a more accurate data of the spend


How Can You Streamline Your Travel and Expense Management Process?

Automated travel management software can help your employees and finance team use the travel and expense management solutions for their benefit. But how? Here are the reasons to support:
Employees could:
  • Effortlessly manage receipts and submits the details of corporate travel
  • Submit digital travel and expenses report instantly using a centralized travel and expense software
  • Maintain compliance with the existing reimbursement policy for corporate travel and expenses in your company

Finance teams could:
  • They can create transparency in corporate spending reports by using travel management software and its automatic function.

  • They can have better control over their travel expenses.

5 Ways Travel and Expense Management Solutions Can Help Companies

Travel and expense management solutions give all travel and expense management services easy access to align in one place. By doing this, you will be able to gain more control over services and enforce compliance. Here are five ways your business can effortlessly adopt new travel and expense management solutions and help you win challenges faced during the pandemic.


Review the Selected Solutions

Before you implement a travel and expense management system, it is vital to review preferred travel and expense management solutions that your business requires. This will help the travel expenses workflow align seamlessly and make employees understand what it takes to manage the entire travel expense scenario accurately.

Conduct Surveys

If you are going to switch the old travel expenses method and adapting advanced travel and expense management solutions, it is crucial to survey the users who have used the solution and know its performance. This survey will help your employees to know if the chosen travel management software suits your requirements. The next step is to keep an eye on the most frequent and critical users, which will help you to have a clear insight into new trends that are being followed in terms of managing the workflow efficiently. By this, you can also implement it in your company. It also helps identify where your process needs refinement to facilitate efficiency in the expense management system.
 

Prioritize the Must-haves

The next step should include the collected input from the survey for setting up the foundation of priority of needs. In this case, creating a checklist is an ideal option. Prioritizing the best travel management software with apt travel and expense management solutions according to your workflow can help you select the right travel expense software for your organization.

You can select travel and expense management solutions that consist of:

  • Report building automation
  • Auto fill options
  • Remote access
  • User-friendly interface
  • Helpful support
  • Mobile functionality
  • Quick international payment


Introduce Demo Sessions

If you use an advanced global travel and expense management system, it is recommended to provide demo sessions of the preferred travel and expense management solutions to your team. The demo sessions could be an opportunity for your team to witness travel and expense management services created from reputable travel management software in action. With this, you can know about a host of details about the implementation of travel expense software, integrations, user training, travel and expense process, and its flow. This contributes towards the successful adoption of a travel expense system and proves the abilities of the travel and expense management solutions selected by you to scale your business as it grows.


Choose a Solution

Once you have organized multiple demo sessions of various global travel and expense management solutions, it's time to choose the best travel expenses management software that fits your company's culture and requirements. Take a good look at the pros and cons of the final travel expense planner you consider for integrated expense management solutions to combat your existing challenges. Being cautious while choosing the right global travel and expense management solutions will benefit your employees, and they will be able to use it for the company's advantage at a much faster pace.
 

Frequently Asked Questions

What you should know about expense management software?

Here are some benefits of an expense management software:
  • Ease of access
  • Minimum manual intervention
  • Higher cost savings
  • Faster reimbursements
  • Eco-friendly process (no paperwork)
  • A simple process that simplifies workflow
  • Encourages errorless work and delays

Your employees can find the best travel and expense management solutions using various expense travel management software. 


How to manage travel expenses?

There are several travel and expense management solutions to manage travel expenses. Here are some ways in which you can manage your travel expenses:
  • Keep a track of expense details
  • Plan ahead before setting a policy
  • Stay aware of the policies
  • Have an effective approval process of expense
  • Organize spend data


Why use an expense management software?

An expense management software helps a business ease expense reporting, manage other aspects, and deliver the right travel and expense management solutions. It offers efficient workflow to the finance teams while recording expenses, data, approvals, controlling costs, and more.


What are the most crucial features to manage expenses?

The most crucial features to manage expenses are:
  • Real-time policy checks
  • The seamless expense reporting process
  • Digital audits
  • Advanced level of data analyses
  • Easy approval process

Spotlight

HRS Stay, Work & Pay

HRS is reinventing the way businesses and governments work, stay and pay in today’s dynamic global marketplace. HRS’ advanced platform technology is extending its reach beyond hospitality to meetings, office space management, payment efficiency and crisis recovery. Beyond cost savings in the global post-pandemic economy, HRS clients gain from an unrivaled focus on essential aspects including safety, security and satisfaction.

OTHER ARTICLES
Business Travel

AI CRM and Online Booking Tipped To Boost Travel Recovery

Article | August 10, 2021

Travel technology professionals view tech as the way to help travel come back stronger, according to research. The TravelTech Show (formerly TTE Europe) polled buyers and suppliers who listed artificial intelligence, customer relationship management and online booking tools as the top three technologies to help boost recovery. Rounding out the top five were self-service portals and innovative payment options. The findings will be unsurprising to many in the industry already looking to AI, the cloud and other technologies to boost efficiency and improve the customer experience. Brian Sheerin, managing director of SABS Travel Technologies, says: Allowing travelers to self-book through an OBT [online booking tool] while still providing simple methods to communicate, such as online chat, are key to reducing customer frustration and allowing travel businesses the space to restructure, to resource and to meet customer expectations. OBTs were already playing a massive part in booking travel pre-pandemic and now it is even more important in the role of rebuilding the sector and customer confidence in it.”In recent weeks, American Airlines announced a far-reaching partnership with Microsoft, Expedia Group unveiled its new tech platform Open World and Miami Airport announced its rollout of biometric boarding technology. Payment developments and other advances in travel fintech also have been highlighted recently as an increasing priority to the industry as it looks to find new revenue streams. The TravelTech Show research also quizzed participants on the top challenges facing the travel technology industry currently, with economic uncertainty taking the top slot (52%), followed by COVID-19 restrictions (46%) and climate change (36%). Cyber security took fourth place compared to two years ago when it was in seventh place. Meanwhile, sustainable travel moved to seventh place compared to the second-place spot it held in 2020.

Read More
Travel Technology, Business Travel

Streamlining Business Operations with Travel Management Agencies

Article | July 20, 2022

Contents 1. Introduction 2. Enhancing Operations of Travel Businesses 2.1 Constant Assistance 2.2 Increased Efficiency 2.3 Travel Spend Reduction 2.4 Advice and Insights 2.5 Travel Policy Compliance 2.6 Greater Knowledge and Visibility 3. Leveraging Business Functions with Services of Agencies 3.1 Travel Management 3.2 Passenger Assistance 3.3 Consulting 3.4 Marketing and Internal Communication 3.5 Technology 3.6 Leisure Services 4. Conclusion 1. Introduction Travel management agencies empower business travel with in-depth analysis, reporting and constant assistance. They improve efficiency in business operations and reduce travel spending through a subscription or one-off payment for their services. With their profound knowledge and vast network of service providers, they offer more discounts and offerings to the travel company’s clients. This feature enhances the visibility and customer reach of the company. They also ensure travel policy compliance, consulting, and other services for better results. 2. Enhancing Operations of Travel Businesses 2.1 Constant Assistance It becomes challenging to manage multiple providers simultaneously, so travel management agencies fill the communication gaps and prevent confusion during travel planning. They reach out various customer support teams and keep track of all communications as an all-in-one solution for global business travel. Some TMCs also assist in day and night shifts to assist with last-minute travel booking and urgent changes in the travel plan. 2.2 Increased Efficiency Travel management agencies help to streamline the booking process. The travel agents would design a comprehensive travel program with travel arrangements as per the requirement of the clients. In addition, they would handle the logistics of making travel arrangements for multiple clients simultaneously. 2.3 Travel Spend Reduction Travel management agencies may charge for a subscription or one-off payment via business travel credit cards for their services. But it leads to significant investment savings, cutting costs over an extended period. They have a vast network of travel service providers offering unique discounts for multiple services. The TMC officials have sound knowledge of reservation availability during particular periods and the destinations at the cheapest fares; that takes care of complex, repetitive and time-consuming travel processes of businesses. Such services make it easy to plan trips, make changes to reservations, and get reimbursed for travel costs. 2.4 Advice and Insights TMC professionals understand the working of the travel industry at its core. As a result, they provide valuable advice on spending the company’s money for greater productivity. In addition, they are experts with in-depth knowledge of new destinations, the best routes for intra-city travel, and general compliance with policies of national and international trips. Moreover, travel management agencies can help to ensure that travelers are fully prepared and equipped for their journey by providing expert guidance and advice on travel requirements, health and safety protocols, and other important considerations. 2.5 Travel Policy Compliance Compliance with travel rules, regulations and policies is vital for travel expense management. It ensures transparency and safeguards the privacy of travel companies or individuals. The travel management agencies adopt a travel policy to ensure efficiency in executing travel business processes. 2.6 Greater Knowledge and Visibility Unclear travel processes cause malpractices and conflicts between travel companies and their clients. Travel management agencies minimize these risks through transparent travel processes. They provide real-time reports of reservations and bookings. They help manage travel within strict budgets, offering travel trend analyses for better decisions. In addition, they manage travel itineraries and assist businesses in every process. 3. Leveraging Business Functions with Services of Agencies 3.1 Travel Management Travel management is the base of organizing and handling travel business, reservation of transport tickets, searches for accommodations, car rental, etc. Still, new technologies have transformed the traditional methods of travel operations. In addition, it undertakes price comparisons or strategies for more deals and discounts. 3.2 Passenger Assistance As global travel continues to increase in frequency and complexity, travelers are often faced with a myriad of unforeseen problems and issues that can potentially derail their plans. Such issues may include repatriation due to illness, accident, or emergency, lost luggage or documents, flight cancellations, and many others. In order to effectively manage and resolve these issues, it is essential to rely on the expertise and resources of travel management agencies. These agencies specialize in providing comprehensive travel solutions and support services to individuals and organizations alike. 3.3 Consulting Consulting services require taking care of different aspects based on the information of interest for the traveler, like traditions of the destination country, recommendations, cultural references, mannerisms, etc. Furthermore, their efforts are geared towards minimizing costs, maintaining control, and offering up-to-date guidance on travel policy. 3.4 Marketing and Internal Communication As a travel management agency gains expertise, it becomes proficient in furnishing robust assistance in the formulation of travel policies for businesses, along with facilitating efficient communication among employees. The process of policy preparation entails regulations pertaining to business travel expenses and management, which the agency is adept at handling. 3.5 Technology Utilizing the most up-to-date and advanced technology is crucial for any travel company in today's world. This allows travel companies to request and compare travel services such as booking tickets, finding suitable accommodations, managing billing, and providing emergency services in a more efficient and effective manner. With the latest business travel software, the companies can leverage automation and artificial intelligence to streamline their operations and offer personalized services to their customers. For instance, chatbots can assist customers with their travel plans, provide recommendations, and handle queries in real-time. 3.6 Leisure Services Travel management companies also offer direct discounts or revised policies for travel and leisure activities in exceptional cases for the company’s employees and relatives. They provide value-adding services meeting the current expectations and needs of the companies through a comprehensive management of corporate travel. 4. Conclusion Travel management agencies help travel companies in every aspect of their business, from travel management, passenger assistance, consulting, marketing and internal communication, and technology to leisure services. They provide constant help, increased efficiency, valuable insights and business advice. In addition, with profound years of experience, knowledge and a solid network, they give enhanced visibility to travel businesses. They reduce travel spend and ensure travel policy compliance between travel companies and their clients, encouraging customer loyalty and trust.

Read More
Business Travel

This too shall pass - but travel will need to adjust

Article | December 22, 2020

Just over a month ago, many of us sat in our offices, surrounded by colleagues, engaged in deep discussions about how best to leverage the increasing demand in travel this year. As per the World Tourism Organization's (UNWTO) forecasts from earlier this year, international tourist arrivals were expected to grow by 4% in 2020, which is not as great as the growth seen in 2017 (7%) and 2018 (6%), but it was still enough to continue fueling the tourism industry, which contributes to about 10.4% of the global GDP and approximately 319 million jobs. We were blissfully unaware of the looming threat of the COVID-19 global pandemic. In fact, several parts of the world failed to take notice of this crown-shaped virus that was about to bring everything to a grinding halt, until March 11, when the World Health Organization officially announced it as a pandemic.

Read More
Hospitality Management

Trends and Opportunities in Hospitality Management Careers

Article | July 18, 2023

Embrace the opportunity in hospitality management careers. Make a difference in tourism to benefit businesses & explore rewarding pathways within sustainable hospitality and tourism industry. Contents 1. Introduction 2. Current Trends in Hospitality Management Careers 2.1. Technology Integration in the Hospitality Industry 2.2. Sustainability and Environmental Consciousness 2.3. Personalization and Customization 2.4. Focus on Wellness and Health 3. Importance of Skill Development and Training for Hospitality Management Careers 4. Emerging Opportunities for Hospitality Management Careers 1. Introduction Embarking on a career in hospitality management opens the doors to a captivating world of endless possibilities within a dynamic and continuously expanding industry. Whether aspirations are rooted in hotel management, restaurant operations, event planning, or tourism, the hospitality sector boasts a multitude of diverse roles and avenues to explore. To embark on this exciting journey, a combination of formal education, practical experience, and a service-oriented mindset is paramount. By acquiring the necessary skills, forging connections with industry professionals, and staying attuned to the latest trends, one can strategically position oneself for a fulfilling and ever-evolving career in this thriving field. 2. Current Trends in Hospitality Management Careers 2.1. Technology Integration in the Hospitality Industry The pandemic accelerated consumers' adoption of technology in hospitality industry, while hotels quickly embraced new tools like contactless check-in systems and branded applications. However, a significant digital skills gap persists among hospitality workers, with nearly one in three lacking necessary AI, machine learning, and content-driven marketing competencies. Trends in the hospitality industry presents a tremendous opportunity for individuals seeking a career in hospitality management. Upskilling in digital roles highly sought after by hotel brands, such as digital marketing, cybersecurity, e-commerce sales, data analysis, social media management, mobile app development, and digital guest experience management, can pave the way for a thriving career in the industry. Combining a hospitality management course with specialized training in digital marketing or ICT equips professionals to excel in the digital hotel economy. As the hospitality industry continues integrating technology, skilled individuals with digital expertise will play a vital role in driving innovation, enhancing guest experiences, and staying ahead of the competition. 2.2. Sustainability and Environmental Consciousness 90% of employees believe that companies should prioritize positive impacts on the planet as much as they prioritize profits. Moreover, consumers are increasingly concerned about environmental issues. A survey among 72,000 Hilton guests revealed that approximately 33% preferred hotels with environmental and social programs, emphasizing the significance of sustainability. (Source: ehotelier) Therefore, many hotels embrace sustainable practices, leading to a global shift towards the low-impact hospitality industry. The rise of green hotels contributes to a more environmentally conscious sector and creates additional employment opportunities for hotel staff. The demand for specialized green skills, such as auditing, compliance oversight, and change management, further reinforces the need for specialization in this expanding field. Sustainable hotels and eco-tourism offer a growing array of career options for individuals passionate about the environment, travel and hospitality sector. By pursuing a career in this sector, professionals can contribute to preserving the planet while capitalizing on the increasing demand for sustainability-focused services. 2.3. Personalization and Customization Customers in today's market seek tailored experiences that cater to their unique preferences and needs, prompting hotels and hospitality businesses to prioritize personalized offerings. The rise of technology has played a crucial role in enabling personalization at various touchpoints. From personalized welcome messages to customized recommendations based on guest preferences, hotels harness data and advanced analytics to deliver exceptional and individualized guest experiences. This trend creates exciting opportunities for professionals seeking to excel in hospitality and tourism careers. Roles such as guest experience managers, data analysts, and CRM specialists are in high demand as businesses strive to provide personalized services to their guests. Additionally, expertise in customer relationship management (CRM) systems, data analysis, and guest profiling can significantly enhance career prospects. By staying updated on emerging technologies, honing customer-centric skills, and understanding the importance of data-driven decision-making, hospitality professionals can thrive careers in hospitality industry that are focused on personalization and customization. Embrace this trend, and position yourself at the forefront of delivering unforgettable, tailored experiences in the hospitality industry. 2.4. Focus on Wellness and Health The pandemic has led people to be health conscious, and therefore, they have started prioritizing it, resulting in the growth of people prioritizing health with massive US $1.7 trillion market. With an expected growth rate of 44% in 2022, wellness is the fastest-growing segment of the tourism sector. With this explosion of consumer interest, hotel brands are expanding into the wellness space and acquiring reputable spa, wellness and fitness brands. Hyatt, for example, recently received Two Roads, Miraval and Exhale, and IHG acquired Six Senses. For hotel professionals , this trend opens up a new potential career opportunity that combine expertise in the wellness area with skills relevant to the hotel industry. For those who are passionate about wellness and health and like the idea of a career in beautiful locations and settings, this might be the right pathway in the hospitality and management career. 3. Skill Development & Training Importance for Hospitality Management Careers The hospitality industry is known for its focus on providing exceptional service and creating positive guest experiences. It is a people-oriented sector that relies on the skills and efforts of individuals to ensure customer satisfaction. Skill development is paramount in this industry as it encompasses diverse skills necessary for running a successful enterprise. Hospitality is a deliberate and sustained effort to maintain mutual understanding between organizations and the public, adapting to market requirements. As one of the fastest-growing sectors in the global economy, the industry faces the challenge of aligning its skills requirements with the evolving labor market. With approximately 10% of the global workforce engaged in the tourism and hospitality-related industry, skill development becomes a crucial concern for every entity operating as a hospitality service provider. Effective skill development programs and training initiatives enable professionals to acquire the necessary competencies to excel in their roles and deliver exceptional guest experiences. By investing in skill development and training, individuals in hospitality management careers enhance their abilities and adapt to changing customer demands. Continuous improvement in skills ensures that professionals meet guests' diverse needs and contribute to their organizations' success. 4. Emerging Opportunities for Hospitality Management Careers The hospitality industry is rapidly growing and evolving, presenting exciting career opportunities. To adapt to changing dynamics, the sector emphasizes the importance of skill development and training. The global health crisis has acted as a catalyst for innovation and technology adoption, enhancing customer experiences. Hospitality education has transformed to meet industry demands, ensuring a talented workforce with relevant skill sets. Aspiring students can explore diverse career prospects in hospitality, culinary entrepreneurship, revenue management, media, e-commerce, client servicing, lifestyle consulting, and health & wellness. Bespoke hospitality has expanded beyond traditional hotels, offering personalized experiences like luxury staycations, glamping, and high-end cruises. Culinary entrepreneurship thrives on creativity and unique dining concepts. The health and wellness segment is rapidly growing, focusing on improving customers' physical and mental well-being. Media and technology play significant roles, with social media engagement, e-commerce platforms, and virtual experiences shaping the industry. Customer service, revenue management, and 'human' skills like critical thinking and communication are highly valued. Skill development is crucial for success in the ever-evolving hospitality field. Professionals who embrace continuous learning and stay abreast of industry trends will seize abundant career opportunities in this dynamic sector. 5. Key Takeaway Careers in the hospitality industry offers various opportunities in hotel management, restaurant operations, event planning, and tourism. To succeed in this dynamic field, skill development and training are essential. Emerging trends such as technology integration, sustainability, personalization, and focus on wellness present exciting avenues for hospitality professionals. Digital skills are in high demand as hotels adopt new technologies and emphasize digital marketing, cybersecurity, data analysis, and guest experience management. Sustainability is a growing focus, with green hotels and eco-tourism creating opportunities for professionals with auditing and change management skills. Personalization and customization are key as hotels leverage technology to deliver tailored guest experiences, requiring expertise in guest management and data analysis. The wellness industry is also booming, offering potential career paths for those passionate about health and wellness.

Read More

Spotlight

HRS Stay, Work & Pay

HRS is reinventing the way businesses and governments work, stay and pay in today’s dynamic global marketplace. HRS’ advanced platform technology is extending its reach beyond hospitality to meetings, office space management, payment efficiency and crisis recovery. Beyond cost savings in the global post-pandemic economy, HRS clients gain from an unrivaled focus on essential aspects including safety, security and satisfaction.

Related News

Hospitality Trends, Hospitality Management

Auberge Resorts Collection Announces Strategic Partnership with Bdt & Msd Partners

PR Newswire | February 02, 2024

The Friedkin Group announced today that the company has entered into a strategic partnership with BDT & MSD Partners ("BDT & MSD"), a merchant bank built to serve the distinct needs of business owners and strategic, long-term investors. BDT & MSD, through its affiliated hospitality investment vehicle, will make a minority investment in Auberge Resorts Collection, the manager of the award-winning portfolio of luxury hotels, resorts, residences and private clubs set in some of the world's most desirable locations. In addition, BDT & MSD's hospitality vehicle intends to invest significant capital towards acquiring and developing luxury hotel and residential assets that will be branded and managed by Auberge Resorts Collection. The partnership reflects BDT & MSD's belief in Auberge Resorts Collection's unique brand positioning and focus on creating one-of-a-kind luxury hospitality experiences. The investment will support Auberge's continued strategic growth in the Americas, Europe and beyond, with a focus on gateway urban markets and high-profile experiential destinations. "This partnership further solidifies Auberge Resorts Collection's position as the leading name in boutique luxury hospitality and marks a new and exciting era for our world-class portfolio," said Dan Friedkin, chairman of Auberge Resorts Collection and chairman and CEO of The Friedkin Group. "BDT & MSD's differentiated, long-term capital and expertise in luxury hospitality investments makes them a perfect strategic partner and will allow us to further grow the strength of the Auberge brand." "Auberge is a world-class manager of distinctive luxury hotel properties, with an exceptional track record of delivering curated guest experiences in the world's leading hospitality markets. We are excited to be a part of its future and look forward to partnering with Auberge's talented team to build on its differentiated strengths and accelerate further growth," said Coburn Packard, partner & head of real estate at BDT & MSD. Since becoming part of The Friedkin Group in 2013, Auberge Resorts Collection has grown into the leading name in boutique luxury hospitality, comprising 27 unparalleled properties across the U.S., Latin America and Europe, with a development pipeline of over a dozen hotels and two additional hotels planned to open in Florence and South Carolina this year. While each property is unique, all share a crafted approach to luxury and bring the essence of the location to life through one-of-a-kind design that reflects the destination, exceptional cuisine and dining experiences that attract both the local community and global traveler, innovative spas and wellness retreats and highly personalized service.

Read More

Hospitality Trends, Hospitality Management

My Place Hotels of America Opens My Place Hotels-Idaho Falls, ID

PR Newswire | January 25, 2024

My Place Hotels of America has officially opened My Place Hotels-Idaho Falls, ID, in Idaho Falls, ID. This marks the 70th open and operating My Place property nationally. Guard Hospitality manages the property, which is owned by MP Idaho Falls and was developed by Legacy Builders. The 64-key property is pet-friendly and offers many amenities, including complimentary high-speed Wi-Fi, onsite laundry, a grilling station, and a 24-hour grab-and-go store stocked with food, beverages, and other necessities. Each guestroom includes a full kitchen and coffee maker. The property sits just minutes from the heart of historic downtown Idaho Falls and is adjacent to the new Snake River Landing Development. Idaho Falls is the largest city East of Idaho's capital, with an estimated population of approximately 64,000 people. The city serves as the commercial, cultural, and healthcare hub for Eastern Idaho, Western Wyoming, and Southern Montana. Idaho Falls' location in the greater Bonneville County is often referred to as the "Gateway to Yellowstone Park" due to its proximity to one of the nation's most popular national parks and its own recreational activities. My Place Hotels-Idaho Falls is also the official hotel partner of the Idaho Falls Spud Kings, one of the newest franchises in the United States Premier Hockey League (USPHL)'s Tier 3 Mountain Division, and is minutes from Mountain America Center, where the Spud Kings play. "We were very excited to see My Place Hotels-Idaho Falls officially open its doors at the end of 2023," stated Ryan Rivett, co-founder and CEO of My Place Hotels. "This property boasts an incredible location, and we are confident that our robust offerings will distinguish us in this dynamic market. As we look forward to additional openings in 2024, we are eager to leverage our momentum to expand our presence with a focus on strategic growth."

Read More

Hospitality Trends, Hospitality Management

Sonesta Announces First Sonesta Es Suites Ground Up Development

PR Newswire | January 24, 2024

Sonesta International Hotels Corporation (Sonesta) today announced plans for the construction of a new Sonesta ES Suites in Port Charlotte, Florida. This new property, expected to open in Spring 2025, marks the first Sonesta ES Suites brand project developed from the ground up. "We are excited that Sonesta ES Suites Port Charlotte will be our first purpose-built location for the brand," said Brian Quinn, Sonesta's Chief Development Officer. "The Sonesta ES Suites brand stands out as an attractive choice for franchisees looking for an upscale option to capitalize on the continued dependable performance of extended stay hotels." "Sonesta ES Suites Port Charlotte will benefit business travelers and tourists who are looking for accommodations near the beaches, golf courses, parks and other attractions that Port Charlotte has to offer," said Alan Lane, one of Sonesta ES Suites Port Charlotte's owners. "The addition of Sonesta ES Suites Port Charlotte to our diverse portfolio reflects Commonwealth Hotels' unwavering commitment to providing an unparalleled guest experience through visionary development, ethical practices and a steadfast dedication to superior service," said Jennifer Porter, President of Commonwealth Hotels, the hotel's management company. To be located at 1321 Claburn Circle in Port Charlotte, Florida, the Sonesta ES Suites Port Charlotte will be an upscale extended-stay hotel spanning four floors and offering 117 rooms with amenities including breakfast and dining services, an outdoor pool, fitness room, market pantry, guest laundry, onsite parking and more. The location of the new hotel is close to over 20 colleges and universities, two hospitals, more than 70 parks and recreational spaces, more than 12 miles of beaches, 14 golf courses and numerous other attractions. Guests of this location will be able to earn or redeem points in the award winning Sonesta Travel Pass loyalty program.

Read More

Hospitality Trends, Hospitality Management

Auberge Resorts Collection Announces Strategic Partnership with Bdt & Msd Partners

PR Newswire | February 02, 2024

The Friedkin Group announced today that the company has entered into a strategic partnership with BDT & MSD Partners ("BDT & MSD"), a merchant bank built to serve the distinct needs of business owners and strategic, long-term investors. BDT & MSD, through its affiliated hospitality investment vehicle, will make a minority investment in Auberge Resorts Collection, the manager of the award-winning portfolio of luxury hotels, resorts, residences and private clubs set in some of the world's most desirable locations. In addition, BDT & MSD's hospitality vehicle intends to invest significant capital towards acquiring and developing luxury hotel and residential assets that will be branded and managed by Auberge Resorts Collection. The partnership reflects BDT & MSD's belief in Auberge Resorts Collection's unique brand positioning and focus on creating one-of-a-kind luxury hospitality experiences. The investment will support Auberge's continued strategic growth in the Americas, Europe and beyond, with a focus on gateway urban markets and high-profile experiential destinations. "This partnership further solidifies Auberge Resorts Collection's position as the leading name in boutique luxury hospitality and marks a new and exciting era for our world-class portfolio," said Dan Friedkin, chairman of Auberge Resorts Collection and chairman and CEO of The Friedkin Group. "BDT & MSD's differentiated, long-term capital and expertise in luxury hospitality investments makes them a perfect strategic partner and will allow us to further grow the strength of the Auberge brand." "Auberge is a world-class manager of distinctive luxury hotel properties, with an exceptional track record of delivering curated guest experiences in the world's leading hospitality markets. We are excited to be a part of its future and look forward to partnering with Auberge's talented team to build on its differentiated strengths and accelerate further growth," said Coburn Packard, partner & head of real estate at BDT & MSD. Since becoming part of The Friedkin Group in 2013, Auberge Resorts Collection has grown into the leading name in boutique luxury hospitality, comprising 27 unparalleled properties across the U.S., Latin America and Europe, with a development pipeline of over a dozen hotels and two additional hotels planned to open in Florence and South Carolina this year. While each property is unique, all share a crafted approach to luxury and bring the essence of the location to life through one-of-a-kind design that reflects the destination, exceptional cuisine and dining experiences that attract both the local community and global traveler, innovative spas and wellness retreats and highly personalized service.

Read More

Hospitality Trends, Hospitality Management

My Place Hotels of America Opens My Place Hotels-Idaho Falls, ID

PR Newswire | January 25, 2024

My Place Hotels of America has officially opened My Place Hotels-Idaho Falls, ID, in Idaho Falls, ID. This marks the 70th open and operating My Place property nationally. Guard Hospitality manages the property, which is owned by MP Idaho Falls and was developed by Legacy Builders. The 64-key property is pet-friendly and offers many amenities, including complimentary high-speed Wi-Fi, onsite laundry, a grilling station, and a 24-hour grab-and-go store stocked with food, beverages, and other necessities. Each guestroom includes a full kitchen and coffee maker. The property sits just minutes from the heart of historic downtown Idaho Falls and is adjacent to the new Snake River Landing Development. Idaho Falls is the largest city East of Idaho's capital, with an estimated population of approximately 64,000 people. The city serves as the commercial, cultural, and healthcare hub for Eastern Idaho, Western Wyoming, and Southern Montana. Idaho Falls' location in the greater Bonneville County is often referred to as the "Gateway to Yellowstone Park" due to its proximity to one of the nation's most popular national parks and its own recreational activities. My Place Hotels-Idaho Falls is also the official hotel partner of the Idaho Falls Spud Kings, one of the newest franchises in the United States Premier Hockey League (USPHL)'s Tier 3 Mountain Division, and is minutes from Mountain America Center, where the Spud Kings play. "We were very excited to see My Place Hotels-Idaho Falls officially open its doors at the end of 2023," stated Ryan Rivett, co-founder and CEO of My Place Hotels. "This property boasts an incredible location, and we are confident that our robust offerings will distinguish us in this dynamic market. As we look forward to additional openings in 2024, we are eager to leverage our momentum to expand our presence with a focus on strategic growth."

Read More

Hospitality Trends, Hospitality Management

Sonesta Announces First Sonesta Es Suites Ground Up Development

PR Newswire | January 24, 2024

Sonesta International Hotels Corporation (Sonesta) today announced plans for the construction of a new Sonesta ES Suites in Port Charlotte, Florida. This new property, expected to open in Spring 2025, marks the first Sonesta ES Suites brand project developed from the ground up. "We are excited that Sonesta ES Suites Port Charlotte will be our first purpose-built location for the brand," said Brian Quinn, Sonesta's Chief Development Officer. "The Sonesta ES Suites brand stands out as an attractive choice for franchisees looking for an upscale option to capitalize on the continued dependable performance of extended stay hotels." "Sonesta ES Suites Port Charlotte will benefit business travelers and tourists who are looking for accommodations near the beaches, golf courses, parks and other attractions that Port Charlotte has to offer," said Alan Lane, one of Sonesta ES Suites Port Charlotte's owners. "The addition of Sonesta ES Suites Port Charlotte to our diverse portfolio reflects Commonwealth Hotels' unwavering commitment to providing an unparalleled guest experience through visionary development, ethical practices and a steadfast dedication to superior service," said Jennifer Porter, President of Commonwealth Hotels, the hotel's management company. To be located at 1321 Claburn Circle in Port Charlotte, Florida, the Sonesta ES Suites Port Charlotte will be an upscale extended-stay hotel spanning four floors and offering 117 rooms with amenities including breakfast and dining services, an outdoor pool, fitness room, market pantry, guest laundry, onsite parking and more. The location of the new hotel is close to over 20 colleges and universities, two hospitals, more than 70 parks and recreational spaces, more than 12 miles of beaches, 14 golf courses and numerous other attractions. Guests of this location will be able to earn or redeem points in the award winning Sonesta Travel Pass loyalty program.

Read More

Events