INDUSTRY OUTLOOK, HOSPITALITY TRENDS
PRnewswire | May 16, 2023
Artificial intelligence tools are spreading to every industry, including the hospitality industry, and Tripleseat is putting this technology into the hands of restaurants and hotels that provide catering and events.
Tripleseat, the leading web-based sales and event management platform for restaurants, hotels, and unique venues, announced the launch of ChatGPT artificial intelligence to enable venues to enhance their online presence with EventUp and food and beverage sales with Tripleseat's direct event booking and reservation platform TripleseatDirect.
Integrated into the text editor in Tripleseat's EventUp and enabled on TripleseatDirect forms, venues can receive AI powered by ChatGPT recommendations for updating their venue and room descriptions to better appeal to guests, boosting Search Engine Optimization (SEO) and adding creative event details to attract more planners on EventUp and TripleseatDirect. This not only improves the overall guest experience but also helps venues attract more business.
"At Tripleseat, we believe that incorporating cutting-edge technology into our platform is key to driving success for our customers in the ever-evolving hospitality industry," said Jonathan Morse, CEO of Tripleseat. "With the launch of ChatGPT features, we're excited to offer our customers access to the latest in artificial intelligence, providing them with personalized recommendations to enhance their venue listings and ultimately attract more business. We're proud to be at the forefront of this technology and look forward to continuing to innovate and provide top-notch solutions for our customers."
About Tripleseat
Tripleseat is a catering and event management platform used by more than 15,000 venues each day, enabling them to streamline the planning process and increase sales. To date, the Tripleseat platform has helped venues book over 10 million events and capture $15 billion in event leads. EventUp powered by Tripleseat allows event planners to browse thousands of venues to book the perfect place for their event.
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TRAVEL TECHNOLOGY
TravelCenters of America | March 17, 2023
TravelCenters of America Inc., nationwide operator and franchisor of the TA, Petro Stopping Centers and TA Express travel center network, announced today exciting updates to its full-service restaurant business.
Chef Maira Isabel now serves as TA’s Corporate Executive Chef, and will focus on adding flavorful, healthy offerings and integrating food trends and regional specialties into the menus of TA’s Country Pride and Iron Skillet restaurants. Before moving to the US, Chef Maira was a chef and on-air talent for multiple television shows for many years and was the Puerto Rico hostess of Bizarre Foods – Travel Channel. Her career has spanned TV, print and online publications including the Cooking Network, Travel Channel and Food & Beverage Magazine and she is a best-selling cookbook author. She has spent time perfecting her culinary skills in Italy, France, Colombia, Spain, Mexico and Morocco.
With over 150 full-service restaurants nationwide, TA continues expanding its portfolio to serve the needs of all travelers. In addition to proprietary brands Country Pride and Iron Skillet, TA launched Fork & Compass in January 2023 in Perrysburg, Ohio. Fork & Compass is designed to be an attractive option for all travelers and a destination spot for the community, with unique food options in a casual, comfortable, family-friendly atmosphere. TA also added five IHOPs and two Black Bear Diners in 2022, with plans to open more full-service restaurants this year.
TA will continue supporting the health and well-being of all travelers through its collaboration with Cleveland Clinic. Chef Maira’s menus will offer healthy meal options approved by Cleveland Clinic and highlighted with a heart-healthy logo. TA plans to expand beyond these menu offerings by working with Cleveland Clinic to identify healthy snack and grab-and-go food options in its travel stores.
“Chef Maira’s diverse background working in restaurants around the world, coupled with her sincere passion and enthusiasm, will elevate the sit-down dining experience at our travel centers,” said Lloyd Sanford, SVP, Hospitality. “Every culinary decision will be focused on ensuring we deliver on our mission of returning every traveler to the road better than they came.”
About TravelCenters of America
TravelCenters of America Inc. is the nation's largest publicly traded full-service travel center network. Founded in 1972 and headquartered in Westlake, Ohio, its over 18,000 team members serve guests in 285 locations in 44 states, principally under the TA®, Petro Stopping Centers and TA Express® brands. Offerings include diesel and gasoline fuel, truck maintenance and repair, full-service and quick-service restaurants, travel stores, car and truck parking and other services dedicated to providing great experiences for its guests. TA is committed to sustainability, with its specialized business unit, eTA, focused on sustainable energy options for professional drivers and motorists. TA operates over 600 full-service and quick-service restaurants and nine proprietary brands, including Iron Skillet® and Country Pride.
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TRAVEL TECHNOLOGY
businesswire | April 21, 2023
Madison Square Garden Entertainment Corp. (NYSE: MSGE) (“MSG Entertainment” or “Company”) today announced that it has agreed to sell its 66.9% majority interest in Tao Group Hospitality to Mohari Hospitality, a global investment company focused on the luxury lifestyle and hospitality sectors, in a transaction that values Tao Group Hospitality at $550 million. The transaction is expected to close in May.
Upon completion of the sale of its majority interest, MSG Entertainment expects to receive net cash proceeds of approximately $300 million.
Today’s announcement follows a successful bidding process with multiple parties. Since MSG Entertainment acquired a majority interest in 2017, Tao Group Hospitality has transformed into a global powerhouse in entertainment dining and hospitality, with a portfolio of over 80 branded locations in over 20 markets across four continents. In fiscal 2022, Tao Group Hospitality generated approximately $485 million in revenue, $37 million in operating income, and $67 million in adjusted operating income.(
Completion of the sale is subject to customary closing conditions. The closing of the transaction is not conditioned on the receipt of financing. Effective as of the closing of the sale, the Company will enter into multi-year agreements with Tao Group Hospitality for ongoing consulting, marketing, and support services at Madison Square Garden and Sphere in Las Vegas.
For Tao Group Hospitality, equity holders of which include MSG Entertainment, Goldman Sachs & Co. LLC served as financial advisor and Hughes Hubbard & Reed LLP served as legal advisor.
For Mohari Hospitality, Moelis & Company LLC served as financial advisor and Kirkland & Ellis LLP served as legal advisor.
See below for the definition of adjusted operating income included in the discussion of non-GAAP financial measures and a reconciliation of operating income to adjusted operating income.
About Tao Group Hospitality
Tao Group Hospitality delivers distinctive culinary and premium entertainment experiences through its portfolio of restaurants, nightclubs, lounges, and daylife venues. Tao Group Hospitality acquired Hakkasan Group in April 2021. The combined company operates more than 70 branded locations in over 20 markets across five continents and features a collection of widely recognized hospitality brands. These include TAO, Hakkasan, OMNIA, Marquee, LAVO, Beauty & Essex, Wet Republic, Yauatcha, Ling Ling, Cathédrale, Little Sister, The Highlight Room, Sake No Hana, Jewel, and more. Tao Group Hospitality is part of Madison Square Garden Entertainment Corp. (MSG Entertainment) (NYSE: MSGE), a leader in live experiences.
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