Sabre Corporation | November 04, 2020
Sabre Corporation (NASDAQ: SABR), the leading software and technology company that powers the global travel industry, announced today it will be launching the Company's first product powered by its proprietary Sabre Travel AI ™ technology. Working with Google, the Company is developing technology that will accelerate the delivery of a smart, scalable retail engine that is powered by state-of-the-art AI technology and advanced machine-learning (ML) capabilities, the first of its kind in travel. The Company plans to officially launch the first iteration of its Sabre Smart Retail Engine ™ early next year, continuing to innovate in omni-channel retailing to enable capabilities across airline business models, passenger service systems (PSS) and global distribution systems (GDS).
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.
Tripedia | November 29, 2021
The AI is based on data of information and resources. Users on the platform can equally participate in sharing information bringing about a decentralized ecosystem.
Bringing Trust Back to the Travel Industry
OTAs have improved digital security protection. Yet, they are not always immune to cyber attacks. Successful hackers commit fraud using stolen customer data. So, it lowers trust in the travel industry. Pricing is not always transparent.
Tripedia's ecosystem allows suppliers and customers to share information efficiently. The data is secure enough to not rely on powerful OTA platforms. Each participant in the Tripedia contract protocol chain uploads the data to the blockchain and assigns it a digital ID. Then, it records every bit of data generated under that ID in the contract account book. The information ranges from customers' travel to payment details.
The platform saves the data off-chain using a distributed file storage system (IPFS). It also generates a hash string as the link entry for the intelligent contract on the chain. The chain saves the unique hash value, ensuring data authenticity. This process relieves the chain of data storage pressure. It also provides system efficiency and improves security.
Customizing Consumer Needs
Customers provide Tripedia with their information and travel preferences. AITD uses the data it has on previous reviews, accommodation, and flight availability. Through this, it recommends the best travel plan for them.
This type of learning saves time and energy compared to traditional machine-learning algorithms. Using blockchain, the self-evolving system learns consumers' travel preferences as they emerge. The AITD model becomes more accurate as of the number of participants. When data on Tripedia grows, it will make travel plans more personalized than ever.
The TRIP coin is the heart of the Tripedia Ecosystem. TRIP tokens can be used for transportation, lodging, and other travel-related items and services. Earning TRIP tokens is as simple as sharing travel resources and knowledge. The bigger the number of Tripedia members, the more prevalent this sharing grows, resulting in a greater demand for TRIP tokens.
Tripedia's dApp allows the users to complete one-click payments quickly. Afterwards, the platform automatically uploads data to the chain. While doing so, the customer will receive TRIP tokens as a reward for contributing data. Tripedia adopts the decentralized OTA mode. Customer payments are transferred directly to suppliers' wallets in real-time. This way, suppliers don't have to worry about long payment delays.
The unified API interface of the model also allows investors to connect tokens. The connection is both reliable and straightforward. Travel-related items from different public chains can also be transferred to Tripedia. It allows the circulation of other tokens and expands the boundaries of Tripedia.
Tripedia is a blockchain-based ecosystem that promises to overhaul and optimize the travel industry. Their goal is to provide tourism market participants with a platform, allowing everyone to participate equally in sharing and trading information. You can find more information on the platform.