INDUSTRY OUTLOOK
Target Hospitality | February 14, 2023
On February 13, 2023, Target Hospitality Corp., a provider of value-added hospitality services and vertically integrated modular accommodations in North America, announced that it had initiated an Environmental, Social, and Governance ('ESG') strategy development and implementation process.
Target is committed to leveraging the strength of its core mission, vision, and values to define meaningful and measurable ESG-aligned goals. Its strategy will be to create a quantifiable framework for benchmarking progress and establish a reporting system committed to setting and achieving ESG goals. The company believes that this approach will generate an executable strategy aligned with its long-term growth objectives centered on the continued creation of shareholder value.
The organization has appointed Scott S. Junk as Senior Vice President of ESG to lead this initiative and focus on the company's ESG strategy and implementation. Before joining Target, Mr. Junk was in charge of positioning, releasing, and developing the ESG initiative for WillScot Mobile Mini.
Brad Archer, President and Chief Executive Officer of Target Hospitality, shared, "We are pleased to formalize our ESG initiative and the commitment to establishing a defined and transparent framework. We have taken meaningful steps in conducting a value-added approach capable of supporting Target's growth and evolution. Thoughtful execution should add lasting benefit to Target's employees, customers, and stakeholders."
(Source – Cision PR Newswire)
AboutTarget Hospitality
Based in The Woodlands, Texas, Target Hospitality (previously Target Lodging) is a leader in turnkey accommodations and integrated hospitality services, present in 22 communities with over 10,000 beds available. It operates worldwide, even in the most remote locations, providing workforce housing and site services to the oil, gas, and mining industries. In addition, it offers temporary accommodation, catering, and hospitality services to governments and relief organizations. In a progressively competitive market, its extensive network, superior culinary services, distinct amenities, and the service-oriented team all work together to improve customer morale and retention. Target Hospitality ensures good care of a client's staff outside of work so that they can perform at their highest level on the job.
Read More
BUSINESS TRAVEL
Life House | March 20, 2023
Tech-enabled hotel management company, Life House, has announced the addition of two more properties in Mexico to its growing portfolio of 80+ independent hotels.
The two properties are Faisano Nomadas in Aldea Zama and The Carmen in Playa Del Carmen. With these hotels, Life House is now managing five independent hotels in the Mexican state of Quintana Roo.
The Carmen is a 37-room hotel in the heart of Playa Del Carmen that is catered to adult vacations and is located directly on the beach. Built in 2017, the hotel features stunning views of the Caribbean from its rooftop bar and lounge, Deck5, and also hosts an Italian restaurant, La Famiglia, on the ground floor. The Owner is a long-time Denver-based developer. Ownership was very excited to have Life House take the reins given their existing presence in the Playa Market.
“We selected Life House for the promise of its advanced tech stack and the opportunity for shared services with their other hotels,” said the Owner of The Carmen. “We expect to see many improvements to The Carmen’s operations and profitability with this new partnership.”
Faisano Nomadas is a 24-room hotel in the heart of Aldea Zama. It was designed not just as a hotel, but as a destination itself, complete with a resort-style pool and a bar offering food and drinks concepted uniquely for the hotel. Francisco Mendoza and Gustavo Acosta, the developers of Faisano Nomadas, are highly experienced hotel owners and strategic growth partners for Life House in Mexico.
Francisco Mendoza shared, “Working with Life House has been really exciting. They have been supporting our project with all their experience and knowledge as we are not Hotel operators - we are just investors trying to develop a profitable business with a great customer experience for our guests. Life House has experienced specialists in all operating areas who are guiding us in this journey and giving us the structure needed in order to achieve our goals.”
Life House, founded in 2017, is uniquely positioned to manage smaller, leisure-oriented hotels and resorts across Mexico. Life House provides institutional-quality hotel management and branding services focused on profitability, ease, and long-term real estate value. They offer best-in-class hotel operations that are powered by their robust operational systems and proprietary technology that consistently drives 2x higher NOI, 40% higher net revenues, and all with a very lean on-site staffing model. Life House is therefore seeing high demand for its management platform throughout Mexico and is targeting the region as a strategic area of growth.
“We are excited to partner with Messrs. Mendoza & Acosta and the owner of The Carmen on their special hotels and forward thinking approach,” said Rami Zeidan, the Founder & CEO of Life House. “Ever since we entered the market in 2020, we have seen how many great independent hotels are underserved and we’re looking forward to helping small & medium indie hotels throughout the country in the near future.”
About Life House
Life House is a vertically integrated hotel management & technology company focused on serving small and medium independent hotels with institutional quality service. Life House uses advanced software & operating systems to increase profitability and reliability for independent hotels throughout North America. Life House was founded in 2017 by real estate, hospitality, and technology veterans and is backed by world renowned private equity and venture investors. The company is ambitiously investing in its operational systems to make hotels fare more profitable, predictable, and seamless for owners. Today the company operates over 80 hotels across North America.
Read More
AIRLINES AND AIRPORTS, INDUSTRY OUTLOOK
IBS Software | February 15, 2023
On February 15, 2023, IBS Software, a travel tech company, released new survey data that shows a staggering 93% of UK and US customers would book more services with airlines if given the opportunity, presenting an enormous opportunity for airlines.
Following a difficult phase of travel uncertainty, passenger confidence in US and UK is on the rise, with 83% of respondents planning to purchase airline tickets within the next six months, according to the study. However, the research also indicates that airlines have failed to maximize this opportunity, with more than a third of respondents (36%) indicating that booking a flight online is more time-consuming and complex than other online retail experiences.
56% of recent flyers would purchase additional offerings from an airline if the online reservation and checkout experience were more like that of online fashion retailers and grocery stores. In addition, a tenth of the people stated that they would book the entirety of their vacation with their airline if they could.
Nearly a quarter of respondents (24%) believe that having all confirmation details in one place is the primary advantage of booking multiple trip components in a single transaction, closely followed by saving money (22%) and having only one provider to deal with in case of issues (19%). Converting a one-time buyer into a repeat customer is difficult for any company. Free seat allocation (51%), included baggage (60%), and priority boarding (25%) are the top services airlines could provide to convert passengers into lifelong customers.
Paul Byrne, VP iFly Retail at IBS Software, explains, "As more and more industries invest in Amazon-esque tactics to compete for consumer spend, it's important airlines don't pass up the opportunity on the table. It's always challenging transforming back-end technology but now is the time to build more personalised relationships with your customers - in a difficult economic climate, can you afford not to?"
(Source – Cision PR Newswire)
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.
Read More