TRAVEL TECHNOLOGY
businesswire | May 26, 2023
Exhale™ the leading health and wellness brand, announces a collaboration with Virgin Hotels New York City to help serve hotel guests and the community with access to its transformative mind-body therapies and programming. Exhale™ continues to expand its footprint, giving communities a new standard of well-being with the proven quality and service for over the last 23 years.
The long-standing brand will now offer boutique wellness services catering to the hotel's guests and neighborhood visitors. The updated programming will include recovery services: floating massage chairs, IV drips, sound and vibrational therapy, infrared therapy and the first European snow room to be unveiled in North America. In addition to their well-known fitness and spa services, guests will have an enhanced experience that embraces new technology and services.
"Together, Exhale™ and its hospitality partners provide impactful, total mind-body wellness experiences to improve inner and outer well-being through boutique fitness classes, results-driven spa therapies and recovery services while collaborating with the industry's best-in-class partners," said Kim Vaughn, chief commercial officer, Exhale™. "We are thrilled to expand Exhale™ with such an iconic brand like Virgin Hotels, which allows even more people to access our wellbeing-focused programs. Located in this beautiful hotel, Exhale™ is a destination spa experience designed to enhance everyday life and assist our communities with their daily well-being routines."
“We look forward to welcoming Exhale™ to Virgin Hotels New York City,” said James Bermingham, chief executive officer, Virgin Hotels. “It will serve as a valuable amenity for our guests and locals looking to relax and recharge from the bustle of Manhattan life.
Exhale's foray into the hospitality space will meet the needs of travelers as well as hotel developers. Exhale™ supports several luxury and lifestyle brands across the US and Bermuda. Exhale™ at Virgin Hotels New York City is scheduled to open December 2023.
"Exhale™ has been a stalwart brand in NYC for many years, and their move into being more closely aligned with the hospitality industry makes perfect sense as wellness services have been in demand as more people prioritize self-care," said Jeffrey Roseman of Newmark. "Any real estate owner looking to amenitize their property would benefit from a partnership with Exhale™ as they can take smaller spaces and create a best-in-class wellness destination for tenants and area residents."
The new Exhale™ space requires a minimal footprint of 4,000 square feet, and the brand has an in-house development, design and construction team that can quickly build out its requirements led by its founder Julia Sutton, architect and designer James Harb and construction management team led by Peter Bryant. of IDCC, LLC This added all in-house service offers owners peace of mind since the tenant has a successful history of setting up shop in raw open space.
Exhale™ was founded in 2002 in New York City with its first location. They are most known for being one of the first pioneers of Barre classes and high-quality spa services. The Virgin Hotel marks the brand's fourth NYC outpost in hospitality.
About Exhale
Exhale™ is a unique well-being brand that has addressed mind and body through spa and fitness for 23 years. Dedicated to total well-being, Exhale™ operates in luxury hotels across the U.S. and Caribbean, offering dozens of proprietary boutique fitness classes and award-winning, transformative spa therapies, including new recovery services with Therabody and IV drips.
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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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