TripActions | January 11, 2021
Corporate travel management platform TripActions said in an official statement that its TripActions Liquid payments and cost framework presently incorporates with driving corporate finance systems.
Among the enterprise resource planning (ERP) frameworks with which TripActions Liquid communicates now are NetSuite, Microsoft Dynamics, Sage Intacct, SAP and Xero, according to the release.
"This integration automates and integrates [travel and entertainment (T&E)] and ERP data to help finance teams experience an entirely new level of visibility over financial data," Michael Sindicich, general manager of TripActions Liquid, said in the release. "An automated link with ERP systems will improve analytical capabilities and provide executives with true spending intelligence across the greater organization."
Among the advantages of the integrations TripActions promotes in the release about the new mixes is that account groups will have the option to follow costs as they're caused instead of when representatives submit them.
TripActions states in marketing materials that a major preferred position it offers business travelers is a powerful online platform combined with admittance to human travel agents 'round the clock.
TripActions' contributions incorporate the Liquid payment card, which PYMNTS detailed kills frustrations that arise — in any event, during seasons of limited travel — that come from having employees working from remote outposts.
FEATURES AND ADVICE
IDEMIA I&S North America | December 07, 2021
IDEMIA I&S North America, the leading identity security and authentication solutions provider, announced the first-of-its-kind travel platform, ID2Travel is launching in North America. ID2Travel is the only interoperable traveler identity platform covering the entire passenger facilitation ecosystem, already proven by IDEMIA and partners around the globe.Based on identity management and biometric identification, ID2Travel is a passenger facilitation solution that improves the traveler experience to deliver efficient, secure and frictionless travel. The platform is interoperable and can be deployed as part of the airport, airline, port or any travel-based infrastructure, or through IDEMIA's patented and National Institute of Standards and Technology (NIST)-rated biometric capture solutions. The passenger experience from check-in and across every touchpoint in the travel experience uses identity proofing that leverages mobile enrollment with secured digital credentials on the traveler's mobile device, biometric devices, and technology back-end services.
"ID2Travel is transforming the entire travel experience,Prior to COVID, Americans took approximately 2.3 billion trips, over a one-year period, and this makes the need for the passenger experience to be even more frictionless and seamless as we return to pre-pandemic travel patterns. With that experience and privacy in mind, the timing couldn't be more ideal to launch our ID2Travel offering in North America to improve passenger flow and maintain a touchless experience, while balancing interoperability throughout the broader travel ecosystem."
-Lisa Sullivan, Senior Vice President, Travel and Transport, IDEMIA I&S North America
Passengers can enroll using a mobile device from home by scanning a state ID or passport, and then taking a selfie to do a 1:1 match. Once submitted for enrollment, travelers will be able to use biometrics to securely and simply move through the airport to their gate and beyond in their travel experience.
The IDEMIA solution also allows passengers to opt out and remove their enrollment at any time and all data is immediately removed from the system, empowering the traveler to take full control of their personal identity information (PII). IDEMIA is the only company that has successfully delivered a complete biometric enrollment to gate frictionless passenger facilitation solution (Fast and Seamless travel at Changi by IDEMIA, Aéroport Paris Orly, a biometric journey from check-in to boarding, Iceland's Comprehensive Entry/Exit System with IDEMIA).For more information visit: https://www.na.idemia.com/id2travel
About IDEMIA I&S North America
IDEMIA I&S is a leader in identity security and authentication services to governments and private companies, operating in North America. Our mission is to help people access what matters most more quickly, more safely, and more securely, in both the physical and the digital worlds. Our best-in-class technology helps to authenticate and secure physical and digital transactions. IDEMIA is recognized by the National Institute of Standards (NIST) as a top-ranking participant in the Institute's passenger facilitation simulation testing as well as in its regular Face Recognition Vender Test (FRVT) rankings, reinforcing the trustworthiness and reliability of IDEMIA's facial recognition solutions for government and consumers alike.
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.