HOSPITALITY TRENDS
prweb | April 20, 2023
East West Hospitality, a leading hospitality services company that actively manages a portfolio of high-end properties in sought-after resort destinations across the U.S., has been selected to provide property management services for The Cape on Kiawah, a highly anticipated new enclave of 78 oceanfront condominium residences and penthouses set to open on Kiawah Island in November 2023. Located on the last available oceanfront parcel on the island, The Cape is also home to The Cape Club, a new beach club in Kiawah Island’s west end neighborhood.
An industry leader in property management, association management and vacation rental homecare, East West Hospitality will provide a suite of services to ensure the residences and amenities at the 14-acre year-round retreat deliver the highest quality experience for owners and their guests. From care and maintenance of the residences, common spaces and building exteriors to professional management of The Cape’s homeowner association, East West Hospitality’s South Carolina-based team of experts in engineering, finance and asset management will oversee all operational aspects of the luxury development.
“The Cape is a stunning addition to the East West Hospitality portfolio of managed luxury properties, and we are delighted to deploy our Charleston-based team’s considerable experience on behalf this iconic new destination,” said Colleen Weiss-Hanen, President and Chief Executive Officer, East West Hospitality.
The Cape joins other South Carolina properties under East West Hospitality management, including the Waterfront on Daniel Island, the Tides IV in Mount Pleasant, and Anson House, 71 Wentworth and the Gadsden in Charleston. East West Hospitality now manages more than 130 homeowner associations and more than 7,300 residences across South Carolina, Colorado, California, and Hawaii, from condominiums and townhomes to luxury private residences, resort hotels, restaurants and retailers.
About East West Hospitality
East West Hospitality is a leading hospitality services company that actively manages a $6 billion portfolio of properties, including hotels, resorts, private luxury residences and vacation rentals, along with restaurant, spa, fitness, retail and commercial properties, in the most desirable leisure destinations. The company also provides in-depth asset and financial management services for more than 130 homeowner associations at high-end residential communities.
With more than 35 years of experience managing hotels, resorts and private residences, East West Hospitality’s vacation rental, resort operations, vacation homecare and asset management services are unparalleled. The company supports more than 7,334 vacation rental residences with boots-on-the-ground teams in every location, enhanced by a 24/7 call center providing personal assistance and destination expertise to guests.
Decades of experience managing hotels, resorts, vacation rentals and iconic private residences have earned East West Hospitality its reputation among guests and property owners as one of the most trusted names in the hospitality industry.
East West Hospitality was named the Vail Valley’s “Business of the Year” in 2018 by the Vail Valley Partnership, Colorado’s “Best Property Management Company” by ColoradoBIZ Magazine and honored as one of the “Top 50 Best Places to Work in 2019” by Outside Magazine.
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HOSPITALITY TRENDS
prnewswire | May 17, 2023
Funds advised by Apax Partners LLP ("Apax") announced today that they have reached a definitive agreement to invest approximately $450m to acquire a significant minority stake in IBS Software, a leading provider of modern Software-as-a-Service (SaaS) solutions to the global travel and logistics industry, from Blackstone. Following the transaction, Apax will partner closely with IBS Software's Founder and Executive Chairman, V K Mathews, who will remain the majority shareholder.
Founded in 1997 with a vision of redefining the future of travel through technology innovation, IBS Software provides next-generation SaaS solutions that power the most mission-critical operations at the world's leading aviation, tour and cruise, hospitality and logistics companies. With a comprehensive portfolio of modular, cloud-based solutions purpose-built for the travel industry, IBS Software helps travel companies accelerate innovation and drive efficiency across a broad set of core business processes, including cargo and logistics, flight operations, passenger services, loyalty programs, cruise operations, energy & resource logistics and hospitality distribution platforms. Backed by a team of 4000 professionals across the world with more than 25 years of deep domain expertise, IBS Software's scalable, cloud-native platform and demonstrated market leadership, position it to define the future of mission-critical technology for the travel industry.
V K Mathews, Founder and Executive Chairman of IBS Software said: "We're excited to partner with Apax as we enter a new phase in our mission to transform how travel companies operate in a digital world. This investment is an endorsement of our strategy and our commitment and contribution to the industry, and we have a shared vision with Apax for the future of the business. We thank our customers and employees who have been instrumental in our success so far. We're grateful to the Blackstone team for their invaluable support over the years and we look forward to an exciting and fulfilling journey ahead with Apax."
Anand Krishnan, CEO, IBS Software, added: "As the travel industry rapidly embraces digitalisation, we have a vital role to play in helping our customers accelerate revenues, drive efficiency and create differentiated customer experiences. Apax has deep experience in partnering with leading SaaS providers and will be a strategic partner for IBS Software as we embark on a new phase of growth. We thank Blackstone for helping us create real value and a true partnership."
Jason Wright, Partner, Apax, commented: "We are thrilled to partner with VK and the management team at IBS Software. Having closely monitored the travel software sector over the last several years, IBS Software stood out to us as uniquely positioned in the industry, offering a next-gen software suite that we believe is truly unrivalled. Over the last two decades, IBS Software has invested in products, innovation, and culture, while continuing to scale the business. We believe there is tremendous growth potential ahead and look forward to leveraging our software experience to help IBS Software become a world leader in travel and logistics software."
Amit Dixit, Head of Asia Private Equity, Blackstone, said: "We are happy to have played an important role in IBS Software's transformation to a SaaS company with global leadership in Travel and Logistics. IBS is already one of the largest enterprise SaaS companies out of India. We thank VK for his strategic vision and for being a terrific partner, and Anand and the management team for their impeccable execution. Value creation at IBS Software demonstrates our business-building approach to investing and reinforces our conviction in Technology as a sectoral theme."
The transaction is subject to customary closing conditions and is expected to close end of Q2 2023. Financial terms were not disclosed.
J.P. Morgan is acting as financial advisor to IBS Software and Blackstone, Drew & Napier LLC is acting as legal counsel to IBS Software and Simpson Thacher & Bartlett LLP is acting as legal counsel to Blackstone.
Kirkland & Ellis LLP is acting as legal counsel and Jefferies LLC is acting as financial advisor to Apax.
About IBS Software
IBS Software is a leader in providing SaaS solutions for the travel industry based in Singapore. It manages mission-critical operations for clients in the aviation, tour & cruise, and hospitality industries. The aviation industry solutions provided by the company include fleet & crew operations, passenger services, staff travel, loyalty programs, aircraft maintenance, and air cargo management. It also operates a B2B and B2C distribution platform that provides hotel room inventory, rates, and availability to a network of hospitality companies and channels. Additionally, it offers a comprehensive, customer-centric digital platform for the tour and cruise industry that includes onshore, online, and on-board solutions. IBS Software is a Blackstone portfolio company with 15 offices worldwide.
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TRAVEL TECHNOLOGY
businesswire | May 08, 2023
AMTD IDEA Group together with our subsidiary, AMTD Digital Inc. are happy to announce that the Singapore Building and Construction Authority (BCA) has granted us the License Permit to display and showcase “DAO AMTD” signage on top of the DAO by Dorsett AMTD Singapore.
The latest development serves to demonstrate our unwavering commitment to Singapore as the headquarters of AMTD Digital and to further showcase our brand values in the hospitality industry.
The DAO by Dorsett AMTD Singapore is strategically located in the vibrant central district of Singapore, offering luxurious accommodation to business and leisure travellers alike. The hotel also features high-end amenities and facilities that cater to the discerning taste of guests. With the display of the “DAO AMTD” signage, our guests can now easily identify and locate the hotel from a distance, making their travel experience seamless.
Dr Timothy Tong, Chairman of AMTD Digital, expressed his delight at this development, “We are extremely proud that the DAO by Dorsett AMTD Singapore has received the BCA License Permit to now officially display the DAO AMTD signage on top of its building. We are committed to contributing and creating a sustainable future for Singapore, enhancing the hospitality industry, and further building a strong connectivity between AMTD and the Singaporean community.”
As we continue to build our brand in Singapore and beyond, AMTD IDEA Group and AMTD Digital remain fully committed to providing the best-in-class services to our guests and partners, in person and digitally. We would also like to take this opportunity to thank our staff, partners and stakeholders for their support and contribution towards our success.
AboutDorsett AMTD Singapore
Dao by Dorsett AMTD Singapore; tailored from arrival. Located in the heart of Singapore's Central Business District, Dao by Dorsett AMTD Singapore features 268 high quality serviced apartment units with excellent connectivity, designed to cater to the needs of discerning international business and leisure travlers. Complete your stay with a variety of key recreational facilities, including a 24-hour fitness center, outdoor infinity pool, and The Living Room (Residents’ lounge).
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