ARC Travel Demand Offers Enhanced Air Travel Insights

ARC Travel Demand | August 12, 2020

Airlines Reporting Corp. (ARC) today unveiled ARC Travel Demand, a data product that provides expanded visibility into airline sales and future air traffic trends. With data updated daily, this new solution helps companies navigate COVID-19 volatility and anticipate future demand.
ARC Travel Demand includes global airline sales data, customizable dataset options and new delivery methods for faster access to intelligence. In addition to gaining a comprehensive view of air travel transactions, sourced from travel agency and airline direct sales, customers will get insight into travel industry performance with access to five years of historical data and 12 months of future travel data.

Spotlight

The simple act of taking a vacation can improve your health, boost your happiness, and prolong your life. However, traveling to an exotic destination isn’t just good for your body and brain—it can also help your career.

Spotlight

The simple act of taking a vacation can improve your health, boost your happiness, and prolong your life. However, traveling to an exotic destination isn’t just good for your body and brain—it can also help your career.

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TRAVEL TECHNOLOGY

Google Travel Now Includes Vacation Rentals in its Search Results Alongside Hotels

Google Travel | June 01, 2021

Google is making moves that further blur the line between hotels and private accommodations. The search giant says searches for “beach rentals” and “staycations” grew by more than 100% globally in the last year. It wants to better serve that interest by combining vacation rentals and hotels in one comprehensive search result for a destination. The “vacation rentals” filter – launched in 2019 – remains for users that want to limit results to only non-hotel properties. Still, without that filter, the default display will show both types of accommodations. Google says results are ranked organically based on relevance to the user’s query. The company would not provide a list of current supply partners, but searches on the site show listings from Tripadvisor, Vacasa, Red Awning, Sonder, Rentals United, and others. Vrbo listings had been on the site for nearly two years but in its earnings call in February, Expedia Group CEO Peter Kern announced the company had pulled them, saying, “We didn’t find investment in the Google vacation rental product particularly incremental, we didn’t think the customer experience was precious, and we are of course also having a period where we see great direct traffic for Vrbo. So we found other ways, and I’d argue more profitable ways, to drive traffic.” It’s unclear at this stage whether properties from Booking.com and Airbnb are participating in the vacation rental search. Google announced the new combined hotels and vacation rental search product Thursday morning during its Google Marketing Live online event. “We’ve seen growing and sustained interest in vacation rentals since the start of the pandemic and have evolved our product accordingly to meet those user preferences. This launch is the first time that we’re showing results that combine both hotels and vacation rentals when a user is trying to find a place to stay,” says a company spokesperson via email.

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HOSPITALITY TRENDS

BRAEMAR HOTELS & RESORTS ANNOUNCES AGREEMENT TO ACQUIRE DORADO BEACH, A RITZ-CARLTON RESERVE

Braemar Hotels & Resorts Inc | December 28, 2021

Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") today announced it has entered into a definitive agreement to acquire the 96-room Dorado Beach, a Ritz-Carlton Reserve in Dorado, Puerto Rico (the "Property"). In addition, the Company is also acquiring the income stream attributable to fourteen luxury residential units adjacent to the Property that participate in a rental management program. The acquisition is expected to close on or prior to February 1, 2022, subject to certain customary closing conditions. Because the acquisition is subject to certain customary closing conditions, the Company can give no assurance that the transaction will be consummated by such date or at all. "The acquisition of Dorado Beach, a Ritz-Carlton Reserve is an opportunity for us to acquire one of the most iconic luxury assets in the Americas As the first Ritz-Carlton Reserve in the Americas and one of only five Ritz-Carlton Reserve properties worldwide, this unique property fits perfectly with our strategy of owning high RevPAR luxury hotels and resorts and further diversifies our portfolio." -Richard J. Stockton, Braemar's President and Chief Executive Officer. With its premier beachfront location on the North coast of Puerto Rico, the Property is situated within Dorado Beach Resort, a 1,900-acre master planned community in one of the most sought after residential real estate markets in both Puerto Rico as well as the United States. In addition to the amenities of the self-contained Dorado Beach community, the resort also benefits from its location within the town of Dorado. Dorado is an upscale suburb of San Juan featuring many restaurants, retail outlets, and other amenities and leisure activities in the surrounding area. Additionally, the town is 20 miles from Old San Juan and 22 miles from Luis Muñoz Marin International Airport, making it very accessible from the capital city. Dorado Beach, a Ritz-Carlton Reserve was opened in 2012 and underwent an extensive $78 million renovation in 2018. It has 96 luxurious and spacious rooms, including 12 suites, that average 1,288 sq. ft. in size. The hotel offers an array of amenities, including the award-winning, full-service, 5-acre Spa Botanico, and three food and beverage outlets (in addition to in-room dining). The Property also boasts the acclaimed COA Restaurant, over 4,800 sq. ft. of meeting space, and an infinity pool with direct access to the beach. Additionally, the surrounding Dorado Beach residential development contains several other amenities that guests of the Ritz-Carlton Reserve can access during their stay, including: 2.5 miles of pristine beachfront, the TPC Dorado Beach Golf Club with two 18-hole Championship golf courses, a Tennis Center with five Har-Tru clay courts offering lessons and clinics for all skill levels, a state-of-the-art fitness center, the Encanto Pool, "The Watermill" – an expansive water park ideal for kids and families, three additional food and beverage outlets, as well as Dorado Farms – a 500-acre site including skeet shooting, equestrian center and culinary offerings – that is currently under construction. While not included in the Property's fee simple collateral, the acquisition includes the income from 14 additional residential units, ranging in size from 2,200 to 6,600 sq. ft., which are part of a rental management program. Dorado Beach, a Ritz-Carlton Reserve has been the recipient of the following awards: AAA Five Diamond Award – 2016, 2017, 2019, 2020 Forbes Travel Guide Five-Star Award - Hotel – 2016, 2017, 2019, 2020 Forbes Travel Guide Five Star Award – Spa Botanico – 2017, 2020 Conde Nast Traveler - Reader's Choice Awards 2019 – Top 50 Resorts in the Caribbean - #1 Conde Nast Traveler - Reader's Choice Awards 2019 – Top 50 Resorts in the World - #14 Travel + Leisure – World's Best Award – 2016 US News & World Report – Best Caribbean Hotel - #1 - 2020 Golf Magazine – Top 100 Resorts in North America 2019/2020 – Best for Luxury - #5 Wine Enthusiast – Best 100 Restaurants – COA - 2019 The total consideration for the acquisition is $186.6 million ($1.7 million per key, inclusive of the residential units in the rental program). The acquisition will be funded with approximately $104 million of cash, six million shares of Common Stock, and the assumption of a $54 million mortgage loan. No additional equity will be issued to fund the cash portion of the consideration. The cash portion of the consideration will be funded from available excess cash. The purchase price for Dorado Beach, a Ritz-Carlton Reserve represents, based on forecasted financial results for 2021, a capitalization rate of 9.8% on hotel net operating income of $18.2 million and a 10.2x hotel EBITDA multiple, according to the Company's preliminary estimates based on unaudited operating financial data provided by the seller. The Company expects to realize a stabilized yield of approximately 8% on its investment in the next three to five years. On a trailing 12-month basis as of November 30, 2021, the Property achieved RevPAR of $1,129, with 57% occupancy and an average daily rate (ADR) of $1,968, according to unaudited operating financial data provided by the seller.

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HOSPITALITY TRENDS

Altitude Control Technology Unveils New Hospitality Solution for Mountain Hotels and Resorts

Altitude Control Technology | November 18, 2021

Altitude Control Technology (ACT), the altitude simulation leaders for the residential industry, unveiled ACT Hospitality, the newest altitude simulation solution for mountain hotels and resorts. ACT Hospitality allows hotels in high-altitude locations to mitigate their guests' altitude-related symptoms with its whole room oxygenation systems. Many high-altitude destinations, such as ski resorts, report guests experiencing classic signs of altitude sickness: difficulty sleeping, fatigue, headache and other symptoms when acclimating to the new environment, some of which require medical attention. At just 6,000 feet many people experience trouble sleeping, and, according to the Cleveland Clinic, about half of people who ascend to 8,000 feet will experience some form of altitude symptoms, and almost 75 percent of people will have effects at 10,000 feet. These symptoms can hinder the guest experience at mountain destinations and may even stop guests from engaging in the activities they came to enjoy. In many cases, some guests simply avoid visiting, wary of the impact of altitude. ACT Hospitality's new technology provides hotels with a complete altitude simulation environment right in the guest's room. Oxygen, air quality and barometric pressure are seamlessly monitored and adjusted to mimic sea level, providing guests with relief from altitude effects, better sleep quality, and an overall more pleasant stay. ACT's highly qualified and experienced team works directly with hotels to install the system. Additionally, ACT works with hospitality architects to integrate the system into the original design of a new hotel, during a renovation, or at a multi-family building. "To distinguish the guest experience, many mountain hotels invest in luxury services like spa treatments, fine dining, and ski valets. But if the guests aren't feeling well, the hotel's effort is wasted ACT Hospitality is a whole new approach to giving guests the award-winning experience they want while in the mountains, and it differentiates hotels among the competition while creating more loyal customers." -Bill Sinclair, President and CEO of ACT Like other heating, air conditioning and ventilation, ACT technology can be implemented in an entire hotel, or just in select guest rooms. The room's oxygenated environment is managed individually, so guests can set their preferred altitude setting on the sleek, modern touch screen. Unlike short-term altitude fixes like oxygen bars or canned oxygen, ACT Hospitality provides guests with a comfortable and seamless solution for their entire stay. Already, one world-renowned luxury hospitality brand has committed to implementing ACT in Arizona, with the desire to create more well-appointed rooms, and more pleasant sleep, for its discerning guests. We've spoken with dozens of hotels at mountain destinations, such as Aspen, Park City and Jackson Hole, and most tell us that combating guests' altitude symptoms is a real challenge and can even send guests packing," continued Sinclair. "We developed ACT Hospitality to resolve this, and we believe it will soon be a standard feature in all of the top mountain hotels and resorts. ACT has been in business for more than 20 years and in that time has implemented its altitude simulation technology in more than 400 luxury residences in virtually every noteworthy high-altitude ski area in North America. The company has also worked with dozens of universities, military and athletic organizations to create altitude simulation environments for research and training. ACT Hospitality builds on the company's decades of scientific research to be a turn-key solution for mountain hotels and resorts. About Altitude Control Technology Headquartered in Edwards, Colo., Altitude Control Technology (ACT) designs, develops, and installs whole room oxygenation systems to mitigate the effects of altitude sickness, enhance sleep quality, and improve general health and wellness. ACT is the world's leader in residential oxygenation systems, with hundreds of installs across all major high-altitude locations in North America. ACT Hospitality is the technology of choice for some of the world's most sophisticated hotels and resorts, and the company works research institutions the world over, including Harvard Medical School, the Mayo Clinic, the University of Colorado's Altitude Research Center, the Borgenicht Altitude Physiology Research Center at William & Mary, and the U.S Army Research Institute. Please visit www.AltitudeCT.com to learn more.

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