Trends and Opportunities in Hospitality Management Careers

trends-and-opportunities-in-hospitality-management-careers
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
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.

Spotlight

The Hague Marketing Bureau

The umbrella organization for the marketing and promotion of the city of The Hague and its two seaside resorts, Scheveningen and Kijkduin. The Hague Marketing plays an important role in promoting The Hague to national and international visitors as a tourist destination for regular tourists and business people.

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Spotlight

The Hague Marketing Bureau

The umbrella organization for the marketing and promotion of the city of The Hague and its two seaside resorts, Scheveningen and Kijkduin. The Hague Marketing plays an important role in promoting The Hague to national and international visitors as a tourist destination for regular tourists and business people.

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Choice Hotels Proposes to Acquire Wyndham Hotels & Resorts for $90.00 per Share in Cash-and-Stock Transaction

PR Newswire | October 18, 2023

Choice Hotels International, Inc. announced a proposal to acquire all the outstanding shares of Wyndham Hotels & Resorts, Inc. at a price of $90.00 per share, payable in a mix of cash and stock. Under Choice's proposal, the $90.00 per share to be received by Wyndham shareholders would consist of $49.50 in cash and 0.324 shares of Choice common stock for each Wyndham share they own. Choice's proposal represents a 26% premium to Wyndham's 30-day volume-weighted average closing price ending on October 16, 2023, an 11% premium to Wyndham's 52-week high, and a 30% premium to Wyndham's latest closing price. In addition, Choice's proposal includes a cash or stock election mechanism, which would provide Wyndham shareholders with the ability to choose either cash, stock, or a combination of cash and stock consideration, subject to a customary proration mechanism. The proposal implies a total equity value for Wyndham of approximately $7.8 billion on a fully diluted basis. With the assumption of Wyndham's net debt, the proposed transaction is valued at approximately $9.8 billion. Choice is making its latest proposal public following Wyndham's decision to disengage from further discussions with Choice, following nearly six months of dialogue. Patrick Pacious, President and Chief Executive Officer of Choice Hotels, said, "We have long respected Wyndham's business and are confident that this combination would significantly accelerate both Choice's and Wyndham's long-term organic growth strategy for the benefit of all stakeholders. For franchisees, the transaction would bring Choice's proven franchisee success system to a broader set of owners, enabling them to benefit from Choice's world-class reservation platform and proprietary technology to drive cost savings and greater investment returns. Additionally, the value-driven leisure and business traveler would benefit from the combined company's rewards program, which would be on par with the top two global hotel rewards programs, enabling them to receive greater value and access to a broader selection of options across stay occasions and price points." "A few weeks ago, Choice and Wyndham were in a negotiable range on price and consideration, and both parties have a shared recognition of the value opportunity this potential transaction represents. We were therefore surprised and disappointed that Wyndham decided to disengage. While we would have preferred to continue discussions with Wyndham in private, following their unwillingness to proceed, we feel there is too much value for both companies' franchisees, shareholders, associates, and guests to not continue pursuing this transaction. Importantly, we remain convinced of both the many benefits of the combination and our ability to complete it," concluded Pacious. STAKEHOLDER BENEFITS The proposed transaction is expected to provide important benefits for both companies' stakeholders – franchisees, shareholders, associates, and guests – that will be particularly significant in the current uncertain economic climate: Franchisees Win with Lower Total Cost of Ownership and Increased Hotel Profitability. Capitalizes on Choice's proven franchisee success system, dedicated to driving incremental topline reservation delivery to hotel owners' properties, while lowering the total cost of hotel operations. Nearly doubles the resources available to spend on marketing and driving direct bookings to franchisees' hotels, lowering the cost of customer acquisition. Establishes an even larger rewards member base on par with the top two global programs in hospitality. Drives more business to franchisees through lower cost direct booking channels, lower customer acquisition commissions and fees, and lower hotel operating costs and technology-driven labor efficiencies, while continuing to determine their own commercial and pricing strategy. Improves the value of franchisees' real estate assets by enhancing applicable cap rates and cash flows resulting from affiliation with the proforma company. Reduces friction by offering guests a broad portfolio of brands across segments, no matter their stay occasions, within a single system. Promotes increased investment and innovation in proprietary technology systems, processes, and training at the hotel and corporate level, which drives returns for Choice franchisees. Creates an opportunity to replicate the tremendous success of Choice's recent acquisition of Radisson Hotel Group Americas. During the integration of the nearly 600 Radisson Americas hotels into the Choice platform, Radisson's franchisees have already meaningfully benefited from increased guest traffic to direct and digital channels, improvement in conversion rates, and access to more corporate accounts, among other benefits. Shareholders Win with Superior Value Creation. Represents a 26% premium to Wyndham's 30-day volume-weighted average closing price ending on October 16, 2023, an 11% premium to the 52-week high, and a 30% premium to the latest closing price. Anticipates meaningful annual run-rate synergies, estimated at approximately $150 million, through the rationalization of operational redundancies, duplicate public company costs, and topline growth potential. Enables Wyndham shareholders to benefit from Choice's historically 3x higher EBITDA multiple on a go-forward basis and receive deferred tax treatment on their stock consideration. Creates additional capacity to further support Choice's revenue intense strategy, ultimately helping drive growth across its organic revenue levers. Generates predictable high free cash flow through an asset-light, fee-for-service model, providing resiliency through all economic cycles and enabling additional investments for future growth. Offers Wyndham two seats on the combined company's board and Wyndham shareholders the opportunity to participate in the significant upside potential of the combined company. Cash/stock consideration mechanism enables Wyndham shareholders to choose between immediate upfront proceeds or long-term value creation, subject to a customary proration mechanism. Guests Win with More Lodging Options and Value. Creates a combined rewards program on par with the top two global programs in hospitality and will offer best-in-class program benefits through partnerships and compelling hotel redemption options. Builds a global network of brands and hotels that meets the needs of the value-driven traveler across geographies, stay occasions and price points, supported by a seamless reservation system that provides guests with a more effective and efficient booking and shopping experience. Improves data analytics, enabling the combined company to personalize communications and tailor recommendations to best meet the needs of the up to 160 million combined rewards program members. Associates Win with Expanded Opportunities and Increased Stability. Offers the ability to retain and attract "best-in-class" talent to one of the world's premier hotel companies focused on employee well-being, bringing together a wide range of experience and deep industry expertise. Provides more opportunities for advancement and career growth as part of a larger, more diversified organization. Combines two performance-driven cultures with a continued emphasis on associate development and growth. RECENT ENGAGEMENT OVERTURES Choice has been engaging with Wyndham for nearly six months. In April 2023, Choice sent its initial letter to Wyndham regarding a potential transaction, proposing to acquire Wyndham for $80.00 per share, comprising 40% cash and 60% Choice stock. The proposal represented a 20% premium to the closing price of Wyndham common stock on April 27, 2023, and a 19% premium over Wyndham's 30-day volume-weighted average share price as of such date. Wyndham rejected the proposal and refused to engage in further discussions. In the days and weeks thereafter, Choice continued to attempt engagement with Wyndham, increasing its proposal to $85.00 per share, comprising 55% cash and 45% Choice stock, explaining that further discussions could clarify Wyndham's hesitation to proceed with negotiations. The companies' respective Board Chairs and CEOs then met in person, and following that meeting, Choice improved its proposal yet again. Choice made its best and final offer which represented an increase of the per-share consideration to $90.00, comprising 55% cash and 45% Choice stock. In September 2023, the Choice and Wyndham Board Chairs continued engagement, along with each of their respective financial and legal advisors. Wyndham acknowledged the strategic rationale of the proposal and that terms were within a negotiable range but raised questions regarding the value of Choice stock and timing for obtaining regulatory approvals. In response, Choice proposed to enter into a one-way, short-term non-disclosure agreement to facilitate Choice providing information that would address Wyndham's concerns (a draft of which was subsequently sent to Wyndham) and made its external counsel available for several discussions. However, during a follow-up call between the Chair of each company's Board and their respective advisors, Wyndham made clear their unwillingness to proceed with further discussions. FINANCING, CONDITIONS AND APPROVALS Closing of the contemplated transaction would be subject to satisfaction of customary closing conditions, including receipt of required shareholder and regulatory approvals. Choice would not make this offer if it were not confident that its franchisees and guests would embrace the proposed combination and that the transaction would receive applicable regulatory approvals in due course. The cash portion of the purchase price is expected to be funded with a combination of cash on hand, as well as proceeds from the issuance of debt securities. Choice is highly confident in its ability to obtain fully committed financing based on indications from two separate bulge bracket global banks for the entire cash portion of our proposal. Strong free cash flows will allow for continued investments in the proforma business and rapid deleveraging of the balance sheet. About Choice Hotels Choice Hotels International, Inc. is one of the leading lodging franchisors in the world. Choice® has nearly 7,500 hotels, representing almost 630,000 rooms, in 46 countries and territories. A diverse portfolio of 22 brands that range from full-service upper upscale properties to midscale, extended stay and economy enables Choice® to meet travelers' needs in more places and for more occasions while driving more value for franchise owners and shareholders. The award-winning Choice Privileges® loyalty program and co-brand credit card options provide members with a fast and easy way to earn reward nights and personalized perks.

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Aimbridge EMEA Named First Third-Party Manager of Costa Blanca Resort Grand Luxor Hotel & Village

PR Newswire | October 20, 2023

Aimbridge Hospitality EMEA, a division of global management leader Aimbridge Hospitality, has been appointed by Santa Maria Group to manage its independent, 402-key Grand Luxor Hotel & Village resort on the Costa Blanca beginning October 1, 2023. The deal marks a major milestone for both companies, signaling their joint ambition to accelerate growth and provide exceptional experiences in the market. A leading hospitality management company and the world's largest third-party hotel operator, Aimbridge EMEA is expected to bring its two decades of operational expertise and award-winning talent development to the four-star rated resort. The Grand Luxor Hotel & Village houses a 300-guest room hotel, including two Presidential Suites, five food and beverage outlets and 102 villas, boasting both communal and private swimming pools. Located adjacent to the Terra Mitica theme park, and a 40-minute drive away from Alicante Airport, the resort also offers a spa, a gym, three outdoor pools, mini golf, a kids' club, and more than 1,500 sqm of meetings and events space. The hotel will benefit from the Terra Mitica Convention Centre and world class event spaces, totalling 12,000sqm, including an Iberian Village, and a 3,000 sqm Circus Maximus Auditorium. Terra Mitica is under the same ownership group and the theme park is a key destination for family tourism in the area. David Anderson, Divisional President at Aimbridge EMEA, said: "We are incredibly excited to partner with Santa Maria Group and announce our entry into the Spanish market. The Grand Luxor Hotel & Village, located on the Costa Blanca - one of Spain's most popular tourist destinations - is an impressive and sought-out resort, and we look forward to helping the owners meet their growth goals." Formerly known as Interstate Hotels & Resorts, Aimbridge EMEA has seen development deals across Europe soar over the last six months, as travel returns to pre-pandemic levels and investors regain confidence in the hotel and tourism sectors. "As a division of global powerhouse Aimbridge Hospitality, this deal also reflects our commitment to accelerate growth across the region. The Iberian Peninsula has been a major focus for our development plans over the last 12 months, and we have made sizable investments in the market, including several new hires in key locations, such as Madrid and Barcelona," Anderson continued. "We see many opportunities to bring our management expertise to the Spanish region and beyond, utilising Aimbridge's industry-leading technologies, systems and talent to create great experiences for guests, and superior returns for investors and owners." In addition to its entry into Spain, the company has also announced a number of new additions to its EMEA portfolio in recent months, including the Holiday Inn Eindhoven Airport, the Adagio Aparthotel Antwerp City Centre, and the Alliance Palace in Batumi, Georgia. Last month, the business welcomed industry veteran, Niall Kelly, who has been appointed as Head of Development – EMEA, bringing more than 25 years of significant deal-making experience within international markets to his role. Anderson added: "We're focused on attracting top talent with expertise in multiple languages and across all verticals, building on our relationships with both existing and new hotel owners to create returns and unlock more opportunities for their properties. "The strong growth in project numbers that we're seeing across Europe is testament to this approach, and the many benefits Aimbridge's global scale and industry experience can offer owners within the hospitality space." The Aimbridge Hospitality global portfolio, inclusive of managed and pipeline properties, includes approximately 1,500 hotels in 20 countries around the world.

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CellPoint Digital, Riskified Unite to Boost Fraud Prevention

CellPoint Digital | November 07, 2023

CellPoint Digital, a Payment Orchestration provider, has partnered with Riskified, a leader in ecommerce fraud prevention and risk intelligence, to enhance fraud protection for airlines and travel merchants. This partnership allows both companies to boost the value for their joint customers by improving fraud detection capabilities and enabling the use of multiple payment providers. Riskified's fraud management platform utilizes advanced AI and machine learning to protect online retailers from fraudulent transactions. Combined with CellPoint Digital's Payment Orchestration platform, this provides higher transaction approval rates, instant decision-making capabilities, and complete chargeback protection. Kristian Gjerding, Chief Executive Officer at CellPoint Digital, remarked, “Our partnership with Riskified represents a step forward in the world of online payments. Together, these platforms empower airlines and other travel merchants to optimize their payment processes while safeguarding against fraud risks, setting a new standard for secure and efficient ecommerce transactions.” [Source- Business Wire] Riskified’s ecommerce platform is a dynamic system designed to protect online retailers from fraudulent transactions. Built for accuracy at scale. It utilizes advanced AI and machine learning algorithms to analyze and verify the legitimacy of each transaction. It also ensures secure and hassle-free online shopping experiences for customers while minimizing the risk of fraud for travel merchants. The travel merchants who use Riskified’s Chargeback Guarantee solution will not bear the cost of fraud chargebacks if Riskified approves a fraudulent transaction. Ravi Kumawasrami, President of Worldwide Field Operations at Riskified, stated, “Businesses should never have to choose between preventing fraud and providing a cohesive customer experience. Our partnership with CellPoint Digital enables airlines and travel merchants to avoid the dilemma while simultaneously streamlining their operations, increasing their revenue and creating a secure shopping environment.” [Source- Business Wire] Leveraging the integrated solutions offered by CellPoint Digital and Riskified, travel merchants, including airlines, can establish a robust safeguard against continuously evolving fraud threats. The Payment Orchestration platform from CellPoint Digital facilitates the integration of multiple payment methods and smartly routes transactions to increase acceptance while accommodating multiple PSPs and acquirers. Furthermore, this is enhanced by Riskified's sophisticated artificial intelligence and machine learning framework, which effectively identifies fraudulent activities in real-time by utilizing data from an extensive worldwide merchant network comprising over 2.5 billion past transactions. With CellPoint Digital’s Payment Orchestration platform, airlines and enterprise travel merchants enjoy cutting-edge fraud protection, instant decision-making capabilities, higher transaction approval rates, and complete chargeback protection, thus enhancing the overall security and efficiency of the payment processes. About CellPoint Digital CellPoint Digital is a prominent figure in the fintech sector, specializing in payment orchestration. The core of its offerings revolves around a robust Payment Orchestration Platform, which plays a pivotal role in streamlining digital payment transactions. It caters to a broad spectrum of payment methods, from traditional cards to alternative options, and expedites the deployment of novel payment solutions. The platform also optimizes transaction routing, boosting conversion rates and reducing payment-related expenses.

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Choice Hotels Proposes to Acquire Wyndham Hotels & Resorts for $90.00 per Share in Cash-and-Stock Transaction

PR Newswire | October 18, 2023

Choice Hotels International, Inc. announced a proposal to acquire all the outstanding shares of Wyndham Hotels & Resorts, Inc. at a price of $90.00 per share, payable in a mix of cash and stock. Under Choice's proposal, the $90.00 per share to be received by Wyndham shareholders would consist of $49.50 in cash and 0.324 shares of Choice common stock for each Wyndham share they own. Choice's proposal represents a 26% premium to Wyndham's 30-day volume-weighted average closing price ending on October 16, 2023, an 11% premium to Wyndham's 52-week high, and a 30% premium to Wyndham's latest closing price. In addition, Choice's proposal includes a cash or stock election mechanism, which would provide Wyndham shareholders with the ability to choose either cash, stock, or a combination of cash and stock consideration, subject to a customary proration mechanism. The proposal implies a total equity value for Wyndham of approximately $7.8 billion on a fully diluted basis. With the assumption of Wyndham's net debt, the proposed transaction is valued at approximately $9.8 billion. Choice is making its latest proposal public following Wyndham's decision to disengage from further discussions with Choice, following nearly six months of dialogue. Patrick Pacious, President and Chief Executive Officer of Choice Hotels, said, "We have long respected Wyndham's business and are confident that this combination would significantly accelerate both Choice's and Wyndham's long-term organic growth strategy for the benefit of all stakeholders. For franchisees, the transaction would bring Choice's proven franchisee success system to a broader set of owners, enabling them to benefit from Choice's world-class reservation platform and proprietary technology to drive cost savings and greater investment returns. Additionally, the value-driven leisure and business traveler would benefit from the combined company's rewards program, which would be on par with the top two global hotel rewards programs, enabling them to receive greater value and access to a broader selection of options across stay occasions and price points." "A few weeks ago, Choice and Wyndham were in a negotiable range on price and consideration, and both parties have a shared recognition of the value opportunity this potential transaction represents. We were therefore surprised and disappointed that Wyndham decided to disengage. While we would have preferred to continue discussions with Wyndham in private, following their unwillingness to proceed, we feel there is too much value for both companies' franchisees, shareholders, associates, and guests to not continue pursuing this transaction. Importantly, we remain convinced of both the many benefits of the combination and our ability to complete it," concluded Pacious. STAKEHOLDER BENEFITS The proposed transaction is expected to provide important benefits for both companies' stakeholders – franchisees, shareholders, associates, and guests – that will be particularly significant in the current uncertain economic climate: Franchisees Win with Lower Total Cost of Ownership and Increased Hotel Profitability. Capitalizes on Choice's proven franchisee success system, dedicated to driving incremental topline reservation delivery to hotel owners' properties, while lowering the total cost of hotel operations. Nearly doubles the resources available to spend on marketing and driving direct bookings to franchisees' hotels, lowering the cost of customer acquisition. Establishes an even larger rewards member base on par with the top two global programs in hospitality. Drives more business to franchisees through lower cost direct booking channels, lower customer acquisition commissions and fees, and lower hotel operating costs and technology-driven labor efficiencies, while continuing to determine their own commercial and pricing strategy. Improves the value of franchisees' real estate assets by enhancing applicable cap rates and cash flows resulting from affiliation with the proforma company. Reduces friction by offering guests a broad portfolio of brands across segments, no matter their stay occasions, within a single system. Promotes increased investment and innovation in proprietary technology systems, processes, and training at the hotel and corporate level, which drives returns for Choice franchisees. Creates an opportunity to replicate the tremendous success of Choice's recent acquisition of Radisson Hotel Group Americas. During the integration of the nearly 600 Radisson Americas hotels into the Choice platform, Radisson's franchisees have already meaningfully benefited from increased guest traffic to direct and digital channels, improvement in conversion rates, and access to more corporate accounts, among other benefits. Shareholders Win with Superior Value Creation. Represents a 26% premium to Wyndham's 30-day volume-weighted average closing price ending on October 16, 2023, an 11% premium to the 52-week high, and a 30% premium to the latest closing price. Anticipates meaningful annual run-rate synergies, estimated at approximately $150 million, through the rationalization of operational redundancies, duplicate public company costs, and topline growth potential. Enables Wyndham shareholders to benefit from Choice's historically 3x higher EBITDA multiple on a go-forward basis and receive deferred tax treatment on their stock consideration. Creates additional capacity to further support Choice's revenue intense strategy, ultimately helping drive growth across its organic revenue levers. Generates predictable high free cash flow through an asset-light, fee-for-service model, providing resiliency through all economic cycles and enabling additional investments for future growth. Offers Wyndham two seats on the combined company's board and Wyndham shareholders the opportunity to participate in the significant upside potential of the combined company. Cash/stock consideration mechanism enables Wyndham shareholders to choose between immediate upfront proceeds or long-term value creation, subject to a customary proration mechanism. Guests Win with More Lodging Options and Value. Creates a combined rewards program on par with the top two global programs in hospitality and will offer best-in-class program benefits through partnerships and compelling hotel redemption options. Builds a global network of brands and hotels that meets the needs of the value-driven traveler across geographies, stay occasions and price points, supported by a seamless reservation system that provides guests with a more effective and efficient booking and shopping experience. Improves data analytics, enabling the combined company to personalize communications and tailor recommendations to best meet the needs of the up to 160 million combined rewards program members. Associates Win with Expanded Opportunities and Increased Stability. Offers the ability to retain and attract "best-in-class" talent to one of the world's premier hotel companies focused on employee well-being, bringing together a wide range of experience and deep industry expertise. Provides more opportunities for advancement and career growth as part of a larger, more diversified organization. Combines two performance-driven cultures with a continued emphasis on associate development and growth. RECENT ENGAGEMENT OVERTURES Choice has been engaging with Wyndham for nearly six months. In April 2023, Choice sent its initial letter to Wyndham regarding a potential transaction, proposing to acquire Wyndham for $80.00 per share, comprising 40% cash and 60% Choice stock. The proposal represented a 20% premium to the closing price of Wyndham common stock on April 27, 2023, and a 19% premium over Wyndham's 30-day volume-weighted average share price as of such date. Wyndham rejected the proposal and refused to engage in further discussions. In the days and weeks thereafter, Choice continued to attempt engagement with Wyndham, increasing its proposal to $85.00 per share, comprising 55% cash and 45% Choice stock, explaining that further discussions could clarify Wyndham's hesitation to proceed with negotiations. The companies' respective Board Chairs and CEOs then met in person, and following that meeting, Choice improved its proposal yet again. Choice made its best and final offer which represented an increase of the per-share consideration to $90.00, comprising 55% cash and 45% Choice stock. In September 2023, the Choice and Wyndham Board Chairs continued engagement, along with each of their respective financial and legal advisors. Wyndham acknowledged the strategic rationale of the proposal and that terms were within a negotiable range but raised questions regarding the value of Choice stock and timing for obtaining regulatory approvals. In response, Choice proposed to enter into a one-way, short-term non-disclosure agreement to facilitate Choice providing information that would address Wyndham's concerns (a draft of which was subsequently sent to Wyndham) and made its external counsel available for several discussions. However, during a follow-up call between the Chair of each company's Board and their respective advisors, Wyndham made clear their unwillingness to proceed with further discussions. FINANCING, CONDITIONS AND APPROVALS Closing of the contemplated transaction would be subject to satisfaction of customary closing conditions, including receipt of required shareholder and regulatory approvals. Choice would not make this offer if it were not confident that its franchisees and guests would embrace the proposed combination and that the transaction would receive applicable regulatory approvals in due course. The cash portion of the purchase price is expected to be funded with a combination of cash on hand, as well as proceeds from the issuance of debt securities. Choice is highly confident in its ability to obtain fully committed financing based on indications from two separate bulge bracket global banks for the entire cash portion of our proposal. Strong free cash flows will allow for continued investments in the proforma business and rapid deleveraging of the balance sheet. About Choice Hotels Choice Hotels International, Inc. is one of the leading lodging franchisors in the world. Choice® has nearly 7,500 hotels, representing almost 630,000 rooms, in 46 countries and territories. A diverse portfolio of 22 brands that range from full-service upper upscale properties to midscale, extended stay and economy enables Choice® to meet travelers' needs in more places and for more occasions while driving more value for franchise owners and shareholders. The award-winning Choice Privileges® loyalty program and co-brand credit card options provide members with a fast and easy way to earn reward nights and personalized perks.

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Hospitality Management

Aimbridge EMEA Named First Third-Party Manager of Costa Blanca Resort Grand Luxor Hotel & Village

PR Newswire | October 20, 2023

Aimbridge Hospitality EMEA, a division of global management leader Aimbridge Hospitality, has been appointed by Santa Maria Group to manage its independent, 402-key Grand Luxor Hotel & Village resort on the Costa Blanca beginning October 1, 2023. The deal marks a major milestone for both companies, signaling their joint ambition to accelerate growth and provide exceptional experiences in the market. A leading hospitality management company and the world's largest third-party hotel operator, Aimbridge EMEA is expected to bring its two decades of operational expertise and award-winning talent development to the four-star rated resort. The Grand Luxor Hotel & Village houses a 300-guest room hotel, including two Presidential Suites, five food and beverage outlets and 102 villas, boasting both communal and private swimming pools. Located adjacent to the Terra Mitica theme park, and a 40-minute drive away from Alicante Airport, the resort also offers a spa, a gym, three outdoor pools, mini golf, a kids' club, and more than 1,500 sqm of meetings and events space. The hotel will benefit from the Terra Mitica Convention Centre and world class event spaces, totalling 12,000sqm, including an Iberian Village, and a 3,000 sqm Circus Maximus Auditorium. Terra Mitica is under the same ownership group and the theme park is a key destination for family tourism in the area. David Anderson, Divisional President at Aimbridge EMEA, said: "We are incredibly excited to partner with Santa Maria Group and announce our entry into the Spanish market. The Grand Luxor Hotel & Village, located on the Costa Blanca - one of Spain's most popular tourist destinations - is an impressive and sought-out resort, and we look forward to helping the owners meet their growth goals." Formerly known as Interstate Hotels & Resorts, Aimbridge EMEA has seen development deals across Europe soar over the last six months, as travel returns to pre-pandemic levels and investors regain confidence in the hotel and tourism sectors. "As a division of global powerhouse Aimbridge Hospitality, this deal also reflects our commitment to accelerate growth across the region. The Iberian Peninsula has been a major focus for our development plans over the last 12 months, and we have made sizable investments in the market, including several new hires in key locations, such as Madrid and Barcelona," Anderson continued. "We see many opportunities to bring our management expertise to the Spanish region and beyond, utilising Aimbridge's industry-leading technologies, systems and talent to create great experiences for guests, and superior returns for investors and owners." In addition to its entry into Spain, the company has also announced a number of new additions to its EMEA portfolio in recent months, including the Holiday Inn Eindhoven Airport, the Adagio Aparthotel Antwerp City Centre, and the Alliance Palace in Batumi, Georgia. Last month, the business welcomed industry veteran, Niall Kelly, who has been appointed as Head of Development – EMEA, bringing more than 25 years of significant deal-making experience within international markets to his role. Anderson added: "We're focused on attracting top talent with expertise in multiple languages and across all verticals, building on our relationships with both existing and new hotel owners to create returns and unlock more opportunities for their properties. "The strong growth in project numbers that we're seeing across Europe is testament to this approach, and the many benefits Aimbridge's global scale and industry experience can offer owners within the hospitality space." The Aimbridge Hospitality global portfolio, inclusive of managed and pipeline properties, includes approximately 1,500 hotels in 20 countries around the world.

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Business Travel

CellPoint Digital, Riskified Unite to Boost Fraud Prevention

CellPoint Digital | November 07, 2023

CellPoint Digital, a Payment Orchestration provider, has partnered with Riskified, a leader in ecommerce fraud prevention and risk intelligence, to enhance fraud protection for airlines and travel merchants. This partnership allows both companies to boost the value for their joint customers by improving fraud detection capabilities and enabling the use of multiple payment providers. Riskified's fraud management platform utilizes advanced AI and machine learning to protect online retailers from fraudulent transactions. Combined with CellPoint Digital's Payment Orchestration platform, this provides higher transaction approval rates, instant decision-making capabilities, and complete chargeback protection. Kristian Gjerding, Chief Executive Officer at CellPoint Digital, remarked, “Our partnership with Riskified represents a step forward in the world of online payments. Together, these platforms empower airlines and other travel merchants to optimize their payment processes while safeguarding against fraud risks, setting a new standard for secure and efficient ecommerce transactions.” [Source- Business Wire] Riskified’s ecommerce platform is a dynamic system designed to protect online retailers from fraudulent transactions. Built for accuracy at scale. It utilizes advanced AI and machine learning algorithms to analyze and verify the legitimacy of each transaction. It also ensures secure and hassle-free online shopping experiences for customers while minimizing the risk of fraud for travel merchants. The travel merchants who use Riskified’s Chargeback Guarantee solution will not bear the cost of fraud chargebacks if Riskified approves a fraudulent transaction. Ravi Kumawasrami, President of Worldwide Field Operations at Riskified, stated, “Businesses should never have to choose between preventing fraud and providing a cohesive customer experience. Our partnership with CellPoint Digital enables airlines and travel merchants to avoid the dilemma while simultaneously streamlining their operations, increasing their revenue and creating a secure shopping environment.” [Source- Business Wire] Leveraging the integrated solutions offered by CellPoint Digital and Riskified, travel merchants, including airlines, can establish a robust safeguard against continuously evolving fraud threats. The Payment Orchestration platform from CellPoint Digital facilitates the integration of multiple payment methods and smartly routes transactions to increase acceptance while accommodating multiple PSPs and acquirers. Furthermore, this is enhanced by Riskified's sophisticated artificial intelligence and machine learning framework, which effectively identifies fraudulent activities in real-time by utilizing data from an extensive worldwide merchant network comprising over 2.5 billion past transactions. With CellPoint Digital’s Payment Orchestration platform, airlines and enterprise travel merchants enjoy cutting-edge fraud protection, instant decision-making capabilities, higher transaction approval rates, and complete chargeback protection, thus enhancing the overall security and efficiency of the payment processes. About CellPoint Digital CellPoint Digital is a prominent figure in the fintech sector, specializing in payment orchestration. The core of its offerings revolves around a robust Payment Orchestration Platform, which plays a pivotal role in streamlining digital payment transactions. It caters to a broad spectrum of payment methods, from traditional cards to alternative options, and expedites the deployment of novel payment solutions. The platform also optimizes transaction routing, boosting conversion rates and reducing payment-related expenses.

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Events