Capital Square | July 22, 2022
Capital Square, one of the nation's leading sponsors of tax-advantaged real estate investments and an active developer of multifamily communities, and Method Co., a real estate management, development and design company rooted in hospitality, today held a groundbreaking ceremony for a new design-forward, 50-unit development bridging the boutique hotel experience with apartment-style living, located at 529 King Street in Charleston's historic downtown.
The $61 million project designed by acclaimed Morris Adjmi Architects will feature 52,700 square feet of space comprising a mix of studio, one-, two- and three-bedroom apartment hotel units, a rooftop lounge, and 27,700 square feet of rentable space. Method Co. will operate the property's rooftop lounge, drawing on significant experience in food and beverage operations to create a space that serves both as an amenity to guests and locals.
Attendees included Capital Square executives Louis Rogers, founder and CEO, and Whitson Huffman, chief strategy and investment officer; Method Co.'s CEO and co-founder, Randall Cook, and president and co-founder, David Grasso; and Kathy Crawford, regional director of the Office of U.S. Senator Tim Scott (S.C.). With construction now underway, the hotel property is slated for completion in early 2024.
"Capital Square is an active developer of luxury properties in growing markets within the Southeast and we couldn't be more pleased to begin construction on our inaugural project in Charleston, Charleston is a premier market, home to a growing community of high-income families and one of the nation's most popular tourist destinations. 529 King Street will contribute to this legacy and become a premier destination for local residents and tourists alike."
-Whitson Huffman, chief strategy and investment officer
The property will be the city's first high-design, extended-stay hotel concept blending the comfort and practicality of an apartment with the amenities and design of a boutique hotel, creating a temporary living environment ideally suited for a long-term stay.
"We are thrilled to break ground on our first ROOST Apartment Hotel in South Carolina and our second project in the city of Charleston, ROOST will offer guests in Charleston a comfortable stay in a beautifully designed apartment that feels like a home and the flexibility to stay a few nights or a few months. The building's design by Morris Adjmi Architects is outstanding; it will be a fitting complement to the classic architectural charm of Charleston."
-David Grasso, President and Co-Founder of Method Co.
Located in the highly sought-after "Upper King" section of downtown Charleston, which is home to a concentration of luxury retail stores, restaurants and nightlife, the new apartment hotel will serve as an ideal accommodation for the city's high volume of annual visitors. The Upper King Street neighborhood also supports a burgeoning tech and start-up scene and represents a growth corridor and exceptional demand generator for higher-end residential and hotel development.
About ROOST Apartment Hotel
ROOST Apartment Hotel is a high-design boutique extended-stay hotel concept, conceptualized by Philadelphia-based hospitality company Method Co. A first of its kind, ROOST introduces a fresh approach to hospitality by blending the comfort and practicality of an apartment with the amenities and design of a boutique hotel, creating a temporary living environment ideally suited for a long-term stay. Designed by Morris Adjmi Architects, ROOST offers studio, one and two-bedroom and penthouse apartments with full-sized kitchens and modern appliances in a beautifully appointed space, which features contemporary furnishings, antique elements, custom lighting, and unique artwork. Featured amenities include an artisanal coffee program curated by La Colombe, bike share program, and recurring resident receptions that partner with local vendors, while a dedicated 24-hour concierge desk and on-site services team further enhance and ensure a memorable guest experience. The first location, ROOST Midtown, opened in 2015 and features 28 fully furnished apartments; their second outpost, ROOST Rittenhouse, followed in 2016 featuring 27 apartments and a communal lobby; their third location, ROOST East Market opened in January 2019 with 60 apartments, an outdoor pool, and communal in Philadelphia's Midtown Village neighborhood. The fourth location is the first outside of Philadelphia – ROOST Cleveland, which opened in March 2022 and features 62 apartments located downtown within the historic May building, a restoration of the city's original 1915 department store, while their fifth location, ROOST Tampa, opened in July 2022 and includes 97 apartments within Asher, a residential building within the new Water Street development. ROOST has plans to open locations in other markets, including Detroit, Baltimore and Charleston. www.myroost.com
About Capital Square
Capital Square is a national real estate firm specializing in tax-advantaged real estate investments, including Delaware statutory trusts for Section 1031 exchanges, qualified opportunity zone funds for tax deferral and exclusion and a real estate investment trust (REIT). In recent years the company has become an active developer of mixed-use multifamily properties in the southeastern US, with eight current projects totaling approximately 2,000 apartment units with a total development cost in excess of $600 million. Since 2012, Capital Square has completed more than $6.0 billion in transaction volume. Capital Square's related entities provide a range of services, including due diligence, acquisition, loan sourcing, property/asset management, and disposition, for a growing number of high-net-worth investors, private equity firms, family offices and institutional investors. Since 2017, Capital Square has been recognized by Inc. 5000 as one of the fastest growing companies in the nation for four consecutive years. In 2017, 2018 and 2020, the company was also ranked on Richmond BizSense's list of fastest growing companies. Additionally, Capital Square was listed by Virginia Business on their "Best Places to Work in Virginia" report in 2019 and their "Fantastic 50" reports in 2019 and 2020. To learn more, visit www.CapitalSq.com.
About Method Co.
Method Co. is a Philadelphia-based hospitality, development, design and branding firm founded on the joining of historically compatible disciplines under one roof; the firm bridges the worlds of interior design and real estate development, while embracing the custom design of products, furniture, identities and experiences. Built from a team of individuals with extensive experience in the fields of finance, interior design, branding, architecture, urban planning and fine arts, Method company's diverse skill set forms the foundation of the firm's interdisciplinary practice. The team has been responsible for the design, staging and development of hotel, restaurant, and real estate projects, such as the ROOST Apartment Hotel brand, Whyle, Wm. Mulherin's Sons Restaurant & Hotel and HIROKI restaurant, along with the newly opened boutique property in Charleston, The Pinch, with plans to expand their concepts to other major markets within the US including Detroit and Wilmington, DE. www.methodco.com
Agilysys | September 19, 2022
The global gaming industry saw record revenue in 2021 and is expected to do so again in 2022, with industry analysts revising expected revenues upward to $876 billion from a previous estimate of $747.9 billion according to the Global Gaming Industry study posted by ReportLinker in July. However, as patrons return in record numbers, owners, operators and management teams are struggling to staff enough positions to serve them.About 6.2 million U.S. hospitality workers lost their jobs in 2020 due to pandemic shutdowns, and many of these workers have left the industry permanently or retired. According to a survey by job search site Joblist, half of U.S. hospitality workers surveyed said they would not be returning to the same jobs they held before the shutdowns, and one-third said they are no longer considering working in hospitality.
The combination of continued staff shortages and increased guest demand is accelerating the development of inventive and quick-to-deploy technology solutions to close this gap. At the G2E (Global Gaming Expo), Agilysys hospitality experts will host an Innovation Lab session on Tuesday, October 11 at 2:00 p.m. that will reveal real-world examples of new mobile, on-demand and kiosk-based software solutions that casino resorts and other properties are deploying with immediate guest-pleasing and revenue-driving results.
G2E is the largest gaming and entertainment event in North America. The event will be held at The Venetian Expo in Las Vegas October 10-13, and will host hospitality industry professionals from all over the world. In addition to its Innovation Lab session, Agilysys also will showcase its software Experience Enhancers™ Collections that extend Agilysys’ property management systems (PMS), point-of-sale (POS) solutions, and Inventory and Procurement (I&P) solutions to amplify Return on Experience (ROE) for both guests and staff.
ROE measures how technology creates more engaged and empowered staff members as well as guests that return more often, spend more, and leave stronger reviews. ROE covers longer-term returns gained by ensuring every experience at every touchpoint avoids disappointment and creates a champion. Built to improve ROE through a variety of staff and guest experiences, Agilysys’ Experience Enhancers Collections enable property operators, management companies and owners to maximize the emotional and empirical returns derived from unifying advanced technology across their operations.
“As those of us who serve or work in this industry know, hospitality is a zero-disappointment business Even one negative experience among a dozen positive ones can provoke a patron to leave a negative review or tell others about their disappointment. That is why we collaborate with our customers and other thought leaders in hospitality and gaming to continuously understand what guests and employees value most so we can design and deliver software that optimizes those experiences across a property and over time. We are finding that new digital, mobile and self-service technologies are proving to be game-changers for many properties, elevating guest satisfaction and revenue while reducing employee stress,”
-Ramesh Srinivasan, president and CEO for Agilysys.
Casinos and resorts interested in actions they can take to elevate guest service despite staffing constraints can see demonstrations in Agilysys’ G2E Booth #3800 and learn more in the Agilysys Innovation Lab session on Tuesday, October 11 at 2:00 p.m. Those who participate in booth demonstrations will have the chance to win a $250 Amazon gift card. To schedule a meeting with an Agilysys hospitality expert, please click here.
About Global Gaming Expo
Global Gaming Expo (G2E) is the world's premier gathering of commercial and tribal gaming professionals. For more than 20 years, G2E has convened the global gaming industry to discover cutting-edge technology, connect with peers and industry experts, and access expert education. For more information, please visit https://www.globalgamingexpo.com/en-us.html.
Agilysys is well known for its long heritage of hospitality-focused technology innovation. The Company delivers modular and integrated software solutions and expertise to businesses seeking to maximize Return on Experience (ROE) through hospitality encounters that are both personal and profitable. Over time, customers achieve High Return Hospitality by consistently delighting guests, retaining staff and growing margins. Customers around the world include: branded and independent hotels; multi-amenity resort properties; casinos; property, hotel and resort management companies; cruise lines; corporate dining providers; higher education campus dining providers; food service management companies; hospitals; lifestyle communities; senior living facilities; stadiums; and theme parks. The Agilysys Hospitality Cloud™ combines core operational systems for property management (PMS), point of sale (POS), and inventory and procurement (I&P) with Experience Enhancers™ that meaningfully improve interactions for guests and for employees across dimensions such as digital access, mobile convenience, self-service control, personal choice, payment options, service coverage and real-time insights to improve decisions. Core solutions and Experience Enhancers are selectively combined in Hospitality Solution Studios™ tailored to specific hospitality settings and business needs. www.Agilysys.com
TRAVEL TECHNOLOGY,INDUSTRY OUTLOOK
Airlines Reporting Corp. (ARC) and ForwardKeys | September 21, 2022
Airlines Reporting Corp. (ARC) and ForwardKeys are pleased to announce the launch of Destination Gateway, a new data tool designed for destination marketing organizations (DMOs), tourism bureaus and conventions and visitors bureaus. This new product combines ARC’s industry-leading ticketing data with ForwardKeys’ travel search interest, airline schedule and capacity data to provide a comprehensive view of travel to specified destinations.With Destination Gateway, users can gain valuable insights into travel to their destination and similar destinations to better inform decisions and marketing strategies. The data is presented in easy-to-understand visuals that can be exported for presentations and further analysis.
“Destination Gateway is the result of a strong collaboration between two leading air travel data and analytics organizations,” said Steve Solomon, chief commercial officer at ARC. “Nowhere else can destinations generate insights via global air traffic ticketing data, with historical trending and an outlook on future travel and traveler behavior. This comprehensive solution allows users to identify opportunities to influence travel by building relationships with travel sellers to guide them in effectively promoting their destination.”
Users can customize their Destination Gateway reports across four modules to provide insights that grow a destination:
Performance – How well a destination is attracting travelers.
Recovery – Comparing today’s travel levels with pre-COVID-19 levels.
Connectivity – Data designed to help with negotiations with airlines.
Agencies – Insight into which agencies sell travel to a particular destination.
“We are very excited with the launch of Destination Gateway in the USA – the first tangible outcome, of which we expect there to be many more, of our collaboration with ARC, ForwardKeys has many years of experience serving and supporting tourism-related businesses and enjoys strong market leadership with over 60 DMO-related customers throughout Central and South America, the Caribbean, Europe, Africa and Asia-Pacific. We look forward to working with ARC to bring data insights and intelligence from Destination Gateway to ARC customers in the USA.”
-Olivier Jager, chief executive officer at ForwardKeys.
ARC accelerates the growth of global air travel by delivering forward-looking travel data, flexible distribution services and other innovative industry solutions. We are a leading travel intelligence company that possesses the world’s largest, most comprehensive global airline ticket dataset, including more than 15 billion passenger flights representing 490 airlines and 230 countries and territories. Our solutions and expertise strengthen economies and enrich lives by connecting stakeholders across the travel ecosystem. For more information, visit arccorp.com.
Founded in 2010, ForwardKeys has pioneered the way forward for tourism organizations, hotels, and retailers keen to understand who is travelling where, when, and for how long. We’ve managed to share such information by having the most comprehensive ticketing data covering the globe from online bookings to travel agencies and airlines. From ticketing data to Seat Capacity and Total Air Market (TAM) the variety of datasets means you get a 360-degree view of the real travel ecosystem. Equipped with historical data, future bookings, and forecasts, planning, even with a pandemic, can be simpler with daily updated data.