IHG Hotels & Resorts | September 06, 2023
IHG Hotels & Resorts launches IHG LIFT, a program supporting under-represented groups in the US and Canada's hospitality industry.
IHG commits over $30 million in partnership with HBCUs, Clark Atlanta University, and Morehouse College. Together, they aim to remove barriers and create opportunities for diverse owner-entrepreneurs.
The program is integral to the Journey to Tomorrow 2030 responsible business plan. It aligns with IHG's commitment to promoting inclusivity and equal hotel ownership access.
IHG Hotels & Resorts (IHG), a global hospitality company, has introduced IHG LIFT, a program fostering diversity in hospitality. It provides support, capital access, and guidance throughout the hotel lifecycle for historically under-represented groups within the hospitality industry in the US and Canada.
IHG has partnered with Clark Atlanta University and Morehouse College, two prominent Historically Black Colleges and Universities (HBCUs). Over the next five years, the company has committed more than $30 million to support the IHG LIFT program.
This partnership represents a significant step toward eliminating barriers and creating opportunities for aspiring hotel owners, aligning seamlessly with IHG's commitment to diversity and equal access to resources and support.
IHG LIFT is an integral component of IHG's comprehensive Journey to Tomorrow 2030 responsible business plan. This broader strategy addresses critical issues and promotes inclusivity within the hospitality industry.
The program's primary objective is to unlock common barriers to hotel ownership among under-represented groups and empower diverse owner-entrepreneurs for success. By integrating IHG LIFT into this forward-thinking plan, IHG reaffirms its commitment to fostering a more unbiased landscape in the hospitality industry.
“As our industry grows, we need to keep our focus on enabling more success for our diverse ownership base. Barriers such as a lack of access to capital and the right networks put such owners at a disadvantage. The IHG LIFT program is specifically designed to help ease the path to ownership and ultimately support owners. Diversifying ownership is not only better for IHG, it also lifts up our entire industry.”
-Chief Development Officer, Americas at IHG Hotels & Resorts, Julienne Smith.
Destination and Tourism
prnewswire | August 18, 2023
Global luxury travel network Virtuoso reveals when, where and how the affluent are traveling for the remainder of 2023. Respected as an industry-leading trend forecaster, Virtuoso gathered data and insights from its network of travel advisors, preferred partners and high net worth/ultra-high net worth clientele based on its data warehouse of more than $63.6 billion in transactions and an ongoing series of surveys. The results were shared at luxury travel's leading event, the 35th annual Virtuoso Travel Week. Running August 12-18 in Las Vegas at Bellagio Resort & Casino, ARIA Resort & Casino and Vdara Hotel & Spa, the event is recognized as the Fashion Week of luxury travel for its presentation of the latest news and trends affecting the industry before thousands of industry leaders, as well as the multi-million dollars in travel sales it drives.
The lead story: travel shows no signs of slowing down, despite inflation and global economic challenges. In the first half of 2023, Virtuoso reported a 69 percent uptick in sales versus 2019 numbers, with hotel and cruise segments leading the way, up 173 percent and 122 percent respectively.
Luxury hotels in the U.S. have seen a 57 percent increase compared to 2019, while luxury international hotels have soared to a 58 percent uptick.
Future leisure travel sales leading into 2024-2025 are equally strong. When comparing sales leading into 2020 from 2019, considered to be luxury travel's highwater mark, 2023's future sales are pacing 107 percent higher. Future sales for 2023 into 2024 are also pacing 44 percent higher than they were in 2022 leading into 2023.
Likewise, 2023 future cruise sales are 44 percent higher than they were in 2022 and 106 percent higher versus 2019.
Travelers are heading abroad in record numbers. Paris, London and Florence ranking among the most-booked cities this fall. When it comes to the hottest travel trends, Virtuoso advisors have noted continued demand for exclusive-use experiences, such as private aviation and yachting along with itineraries that incorporate next-level stimulation and engagement (think scientific expeditions in Antarctica). The wellness sector continues to thrive, with 94 percent of travelers incorporating self-care into their travels and a rising interest in programs that incorporate creative and performance art. Iceland has emerged as a wellness destination, as has Thailand, as travel to Asia returns. What hasn't changed, but is even more pronounced following the pandemic, is the importance travelers place on genuine, personalized service and their willingness to invest in collaborating with a travel advisor to arrange VIP treatment and access, to have reassurance, accountability and save time, and to ultimately have the experience they want.
An overview of the information is below, with complete findings here.
Booking analysis is based on transactional data sourced from Virtuoso's travel agency members; wellness and culinary travel insights were based on surveys conducted with Virtuoso advisors; and sustainability findings are the result of a recent in-depth analysis of Virtuoso partners resulting in its Virtuoso Impact Report, Sustainable Travel, 2023.
Virtuoso is the leading global network of travel agencies specializing in luxury and experiential travel, with more than 20,000 travel advisors. We partner with over 1,800 of the world’s best companies such as hotels, cruise lines, tour operators, and more. Our advisors use their personal connections and firsthand expertise to craft bespoke trips for clients, including unique experiences, special values, complimentary perks, VIP treatment and rare access.
Destination and Tourism
businesswire | July 07, 2023
Life House, an innovative management company for independent hotels, is proud to announce the launch of its Referral Program. The hotel industry is in a period of low transaction and development activity and the program is designed to support those folks who are particularly impacted, including brokers, developers, architects, designers, and hotel owners. Life House’s management services and revenue management solutions are designed to help owners yearning for better results with less effort, especially in the current economic environment - and Life House is committed to supporting the hotel community that fuses the industry together.
With its tech-driven management approach, Life House makes hotels more profitable and makes owning a hotel hassle-free, with case studies showing NOI increases of 250% and improved guest experiences. The model leverages proprietary tech and complex operating systems and processes to deliver consistent success across its diverse portfolio of 100+ properties, ranging from select service hotels, to lifestyle motels, to luxury Forbes Five Star hotels and those affiliated with Leading Hotels of the World.
While the Company has been receiving referrals for years, Life House is now launching a formal referral program given the economic climate to support both the hotel owners it serves as well as those who make referrals. The referral fees may not be as lucrative as a broker transaction fee, but could be up to $50,000, depending on the size of the hotel referred. If an introduction results in Life House signing a Hotel Management Agreement, Life House will provide a one-time reward in the amount of 0.5% of LTM Revenue for existing operating hotels OR 0.5% of Projected Year 1 Revenue for new builds or hotels that will undergo renovation.
"We’re deeply committed to our mission of helping not only independent hotel owners, but the industry as a whole. We understand that the hotel industry is small and while most of our friends, broker partners, etc. make referrals out of the goodness of their hospitality spirit, we wanted to be proactive to reward those who may be going through a dry patch in this economic environment," said Rami Zeidan, Founder & CEO of Life House.
About Life House
Life House is a vertically integrated hotel management & technology company focused on serving small and medium independent hotels with institutional quality service. Life House uses advanced software & operating systems to increase profitability and reliability for independent hotels throughout North America. Life House was founded in 2017 by real estate, hospitality, and technology veterans and is backed by world renowned private equity and venture investors. The company is ambitiously investing in its operational systems to make hotels far more profitable, predictable, and seamless for owners.