Highgate | December 19, 2022
An affiliate of the Principals of Highgate announced that it has entered into a definitive agreement to purchase Viceroy Hotels & Resorts (Viceroy). The LA-based, award-winning hospitality group is known for its highly individual modern luxury hotels and resorts throughout the world, and was voted one of the top 10 hotel brands globally in the 2022 Travel + Leisure World's Best Awards. The Viceroy brand debuted in 2000 with the launch of Viceroy Santa Monica and has evolved into a portfolio of hotels and resorts in iconic destinations such as St Lucia, Chicago, Los Cabos and Snowmass.
"We are excited for Viceroy's future and we believe that this acquisition will not only fuel the future expansion of our brand, but also give us a true partner, one who will offer incredible support, opportunity and collaboration. This deal will accelerate our momentum, and solidify our position as the leading modern luxury lifestyle brand in our space," stated Bill Walshe, CEO of Viceroy.
"We are thrilled to execute this transaction with Viceroy. Viceroy has built an outstanding customer reputation due in part to its strong service culture and incredible team,Through complementing Viceroy's platform and DNA with Highgate's diversified ability to grow through real estate acquisitions, development, and third-party growth channels, Highgate intends to add brand-accretive hotels to the Viceroy portfolio that will further enhance customer perception and brand awareness. Further, through powering Viceroy with a proprietary relationship with Highgate's operating company, and imparting the benefits of Highgate's scale, we will be able to provide significant incremental value to associates, guests, owners and partners."
-Richard Russo, Principal at Highgate.
We look forward to working with the Viceroy team to add visible and impactful hotels to the platform, and cement Viceroy as one of the most noteworthy luxury lifestyle hotel brands in the industry,continued Russo. In the coming months, we will be announcing exciting additions to the portfolio in major urban gateway markets and select resort destinations that will invoke the distinct quality and luxury service that Viceroy has long been known for.
The transaction is expected to close in early 2023. For more information on Highgate, visit Highgate.com.
Highgate is a leading real estate investment and hospitality management company with over $20 billion of assets under management. Highgate has a 30-year track record as an investment manager, operating partner, and developer for REITs, private equity firms, sovereign wealth funds, high net worth individuals, and other institutional investors. With a particular focus in hospitality real estate, Highgate's portfolio includes over 500 owned and/or managed hotels comprising over 84,000 rooms across the United States, Europe, Latin America, and the Caribbean. Highgate's capabilities extend to adjacent real estate verticals including multifamily, short-term rentals, and diversified healthcare real estate, as well as investments in real estate-linked securities, technology platforms, and hospitality-related operating businesses. Highgate maintains corporate offices in New York, Dallas, Los Angeles, London, Miami, Seattle, and Waikiki. For more information, visit: www.highgate.com
ABOUT VICEROY HOTELS & RESORTS:
Viceroy Hotels & Resorts is a global modern luxury brand, inspiring travelers with one-of-a-kind, authentic experiences that bring together provocative design and intuitive service. Dynamic destinations immersed in the local community and culture are at the core of the Viceroy guest experience, and to better serve travelers the brand has established three unique hotel categories consisting of the Icon Collection composed of unparalleled properties furnishing lavish experiences, the Lifestyle Series offering energizing stays in vibrant locales, and Urban Retreats based in bold, eccentric cities. Viceroy's portfolio of hotels and resorts can be found in a diverse array of breathtaking and inspiring destinations, including Los Cabos, Santa Monica, Chicago, Beverly Hills, Riviera Maya, Snowmass, San Francisco, Washington D.C. and St. Lucia. In 2020, the brand expanded to D.C. with the opening of the Viceroy Washington DC and Hotel Zena (Washington D.C.), and Viceroy is growing its international portfolio with the recent opening of Viceroy Kopaonik Serbia and looking ahead with Viceroy at Ombria Resort Algarve (Portugal) in 2023 and Viceroy Bocas Del Toro Panama in 2024. Additionally, Viceroy was named in the top ten of 'Top 25 Hotel Brands' on Travel + Leisure World's Best Awards 2022. Viceroy for Everyone, Viceroy's ongoing commitment to diversity, equity and inclusion to its colleagues and guests can be found at www.viceroyhotelsandresorts.com/about-us/diversity-equity-inclusion.Viceroy is a member of the Global Hotel Alliance (GHA) DISCOVERY, a unique loyalty program offering exclusive benefits and experiences to its members at over 800 hotels around the world. For more information, visit www.viceroyhotelsandresorts.com. Follow Viceroy on Facebook and Instagram.
SUNRATE | January 10, 2023
SUNRATE, recognized as a leading financial solutions provider, collaborated with Visa, a world leader in digital payments. The partnership is to enhance the travel solutions offered by SUNRATE.
In the past, SUNRATE's stakeholders had only one way to pay for travel-related expenses with their travel partners. Now with the partnership, they will have a virtual corporate card that makes this process much easier and more streamlined.
SUNRATE, at the end of last year, shared news of a strategic alliance with Agoda, the world's largest online travel agency. In 2021, the company was accepted into the Visa network as a primary participant.
SUNRATE’S corporate cards will help its travel partners to have control over spending track and allocations. In addition, a corporate card will ensure the security of the transactions and the data for the users. Technologies like Application Programming Interfaces (APIs) have made it difficult for shared card information to be misused by imposing a time limit on each transaction.
The Payment Card Industry Data Security Standard (PCI DSS) Level 1 is an international standard for financial data security. SUNRATE has been certified to meet this standard.
"The launch of Visa virtual corporate cards is a monumental step for SUNRATE as we cement our leadership as a one-stop B2B payment partner, especially for the travel industry. Since our partnership announcement with Agoda, we have worked with many other travel stakeholders, including other OTAs and we take pride in being able to solve their overall business needs. The Visa virtual corporate card will be a key solution for our customers and beyond,"
-Shawn Qin, Head of Card Business, SUNRATE.
SUNRATE is an advanced global payment and treasury management platform for international businesses. Having global headquarters in Singapore and offices in China, Indonesia, Japan, and the United Kingdom, SUNRATE collaborates with Citibank, Standard Chartered, and Barclays and is the leading member of MasterCard and Visa. The company has facilitated local and global growth for over 130 firms since its establishment in 2016.
TRAVEL TECHNOLOGY,AIRLINES AND AIRPORTS
Alaska Airlines | December 01, 2022
Alaska Airlines became the first U.S. airline to launch an electronic bag tag program, which enables guests to tag their luggage through the airline's mobile app before they even reach the airport.
This week, 2,500 Alaska Mileage Plan members will begin receiving their electronic bag tag. Those elite status members included in the first wave of the program are guests who have traveled in the last 12 months, checked-in at least one bag and were among the first to register to use the device."The last thing our guests want to do is stand in line," said Charu Jain, senior vice-president of merchandising and innovation for Alaska. "With the addition of the Alaska Airlines electronic bag tag, our guests can complete almost all of their check-in tasks – from the comfort of their home, at work or on the way to catching their flight."
The three-by-five-inch devices are updated with a guest's flight information through the Alaska Airlines mobile app during check-in; essentially allowing travelers to head straight to the bag drop area once they arrive at the airport.
The Alaska Airlines electronic bag tag is estimated to reduce the time guests spend in airport lobbies by about 40%, including reducing lines and the use of paper bag tags. In addition to the device's impressive lifespan and durability (Alaska Airlines employees tested it by running it over with a truck), the devices don't require charging or batteries.
"We've tested our electronic bag tags on countless flights across the country, including international routes where Alaska Airlines flies, and the devices have performed exactly as they're meant to," said Jain. "We'll collect feedback from our first wave of users before the devices become available to purchase to all our guests early next year."
The Alaska Airlines electronic bag tag will be available for purchase to all guests starting in 2023 and will operate on all Alaska Airlines marketed flights operated by Alaska Airlines, Horizon Air and SkyWest Airlines.
Along with the hardware, the software for the device is provided by BAGTAG, a Dutch company that is a pioneer in the field of baggage technology solutions.
"Alaska Airlines is an excellent example of a carrier on a mission to improve all aspects of their passenger's experience, This vision is leading their choices for innovation such as electronic bag tags and we are very proud to assist them in this project."
-Jaspar Quak, BAGTAG managing director
Click here to check out how the Alaska Airlines electronic bag tag works and join the notification list when the devices become available for purchase.
BAGTAG was founded in 2014 in the Netherlands, with the purpose of introducing the world's first flexible and secure electronic bag tag solution. Having developed in close cooperation with the world's leading airlines, the company launched its hardware solution in 2018 and is now leading the market for electronic bag tags.
About Alaska Airlines
Alaska Airlines and our regional partners serve more than 120 destinations across the United States, Belize, Canada, Costa Rica and Mexico. We emphasize low fares and award-winning customer service. Alaska is a member of the oneworld global alliance. With the alliance and our additional airline partners, our guests can travel to more than 900 destinations on more than 20 airlines while earning and redeeming miles on flights to locations around the world. Learn more about Alaska at news.alaskaair.com and follow @alaskaairnews for latest news. Alaska Airlines and Horizon Air are subsidiaries of Alaska Air Group.