Caribbean Welcomes Tourism Boom in 2019

Travel Market Report | June 10, 2019

A welcome sign, Caribbean tourism has recorded robust growth in 2019, according to new data from the Caribbean Tourism Organization (CTO).The region saw a 12% increase in tourist arrivals during the first quarter of 2019, thanks in part to a 24% rise in arrivals from the U.S. Between January and March of this year, there were 9.1 million international tourist trips to the region, up by 970,000 over the corresponding period last year.“It was a united effort from the entire Caribbean,” CTO chairman Dominic Fedee during a media conference hosted at the Wyndham New Yorker Hotel as part of the CTO’s Caribbean Week New York.

Spotlight

Community-based tourism has become one of the sector’s fastest growing segments globally, as new generations of travelers seek more meaningful experiences from their leisure time. These avid travelers are searching for much more than sun, sea and sand; they desire to immerse themselves in the nature, heritage and cultural experiences of the destinations they visit.


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HOSPITALITY TRENDS

Hyatt Continues Asset-Light Growth Strategy with Plans to Acquire Dream Hotel Group

Hyatt Hotels Corporation | November 30, 2022

Hyatt Hotels Corporation (NYSE: H) and Dream Hotel Group announced an agreement for a Hyatt affiliate to acquire Dream Hotel Group’s lifestyle hotel brand and management platform including the Dream Hotels, The Chatwal Hotels and Unscripted Hotels brands, with properties in some of the world’s most prominent hotel markets across the Americas, Europe and Asia.This asset-light acquisition will include a portfolio of 12 managed or franchised lifestyle hotels, with another 24 signed long-term management agreements for hotels expected to open in the future. Upon closing, this expansion will add over 1,700 rooms to Hyatt’s lifestyle portfolio and increase Hyatt’s room count in New York City by more than 30%. This acquisition continues Hyatt’s asset-light growth strategy following its transactions to acquire Two Roads Hospitality in 2018 and Apple Leisure Group in 2021 – and, most recently, Hyatt’s collaboration agreement with German Lindner Hotels AG, to further grow Hyatt’s brand footprint in Europe. Upon closing, Hyatt will pay a base purchase price of $125 million, with up to an additional $175 million over the next six years as properties come into the pipeline and open. Stabilized management fees associated with the base purchase price of $125 million are anticipated to be approximately $12 million and, to the extent the contingent purchase price of $175 million is paid, additional stabilized management fees are anticipated to be up to approximately $27 million. The total base purchase price plus the contingent purchase price represents an attractive acquisition multiple in the high-single digits on projected stabilized earnings. Dream Hotel Group properties are known for their vibrant dining and nightlife experiences including hotspot restaurants, lavish entertainment venues and exclusive night clubs built on strategic collaborations with innovative and award-winning industry leaders. The acquisition will extend Hyatt’s brand footprint in key markets, including Nashville, Hollywood, South Beach, Durham, several locations in New York City and one in the Catskills. Signed contracts represent additional strategic destinations including Las Vegas, Saint Lucia and Doha. “We have tremendous respect for what Dream Hotel Group founder Sant Singh Chatwal and Chief Executive Officer Jay Stein and their team have created and are grateful for the trust being placed in us by Dream Hotel Group to care for their brands and carry their success forward into the future, We look forward to continuing our growth journey with more than 600 new Hyatt family members who will further elevate our lifestyle expertise and expand the success of our dedicated lifestyle division. We are excited to offer even more inspiring experiences and celebratory programming to our guests and loyalty members and bring the value of the Hyatt network to a growing number of discerning hotel owners and developers around the world.” -Mark Hoplamazian, president and chief executive officer, Hyatt Hyatt has a proven track record of preserving what makes lifestyle hotels special and is the ideal new home for our growing Dream Hotel Group brands, said Sant Singh Chatwal, chairman and founder, Dream Hotel Group. As an owner of Dream Hotel Group properties, I look forward to the next part of our journey and am confident there is a bright future ahead for our hotels, owners, guests and team members as part of the Hyatt family. The transaction is anticipated to close in the coming months, subject to customary closing conditions. Following completion of the transaction, Hyatt will work to welcome the new properties into the World of Hyatt loyalty program, bringing more stay occasions and destinations to its member base. World of Hyatt members are some of the most valuable travelers in the industry who spend more and stay more, generating high-quality revenue for the owners of Dream Hotel Group properties. Dream Hotel Group founder Sant Singh Chatwal will continue his commitment as an owner of four open and two future hotels that are expected to join the Hyatt portfolio. Dream Hotel Group CEO Jay Stein will join Hyatt as Head of Dream Hotels to guide the integration of the Dream Hotel Group brands into the Hyatt portfolio, ensuring the unique DNA of each brand is preserved while leveraging Hyatt’s capabilities to optimize property performance. Additionally, Dream Hotel Group’s Chief Development Officer David Kuperberg will join Hyatt as Head of Development – Dream Hotels; Chief Operating Officer Michael Lindenbaum will join Hyatt as Global Head of Operations – Dream Hotels. In connection with the transaction, Moelis & Company LLC served as financial advisor to Hyatt and Latham & Watkins LLP acted as its legal advisor. The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates. About Hyatt Hotels Corporation Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company guided by its purpose – to care for people so they can be their best. As of September 30, 2022, the Company’s portfolio included more than 1,200 hotels and all-inclusive properties in 72 countries across six continents. The Company's offering includes brands in the Timeless Collection, including Park Hyatt®, Grand Hyatt®, Hyatt Regency®, Hyatt®, Hyatt Residence Club®, Hyatt Place®, Hyatt House®, and UrCove; the Boundless Collection, including Miraval®, Alila®, Andaz®, Thompson Hotels®, Hyatt Centric®, and Caption by Hyatt; the Independent Collection, including The Unbound Collection by Hyatt®, Destination by Hyatt™, and JdV by Hyatt™; and the Inclusive Collection, including Hyatt Ziva®, Hyatt Zilara®, Zoëtry® Wellness & Spa Resorts, Secrets® Resorts & Spas, Breathless Resorts & Spas®, Dreams® Resorts & Spas, Vivid Hotels & Resorts®, Alua Hotels & Resorts®, and Sunscape® Resorts & Spas. Subsidiaries of the Company operate the World of Hyatt® loyalty program, ALG Vacations®, Unlimited Vacation Club®, Amstar DMC destination management services, and Trisept Solutions® technology services. For more information, please visit www.hyatt.com. About Dream Hotel Group Dream Hotel Group is a hotel brand and management company with a rich, 35-year history of managing properties in some of the world's most highly competitive hotel environments, including New York, Los Angeles, Miami, Bangkok and most recently Nashville. Home to its Dream Hotels, Unscripted Hotels, The Chatwal and new By Dream Hotel Group brands, Dream Hotel Group encompasses three business lines: Proprietary Brands, Hotel Management, and Dining & Nightlife. The company is committed to the philosophy that forward-thinking design, service and guest experiences should be available across all market segments. Dream Hotel Group is dedicated to offering travelers an authentic connection to their chosen destination through a truly original approach. For more information on Dream Hotel Group and its brands, visit www.DreamHotelGroup.com and follow @dreamhotelgroup on Twitter and LinkedIn.

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DESTINATION AND TOURISM, HOSPITALITY TRENDS

XTM Inc. Joins Hospitality Experts to Address Compliance on Gratuity Payout

XTM Inc. | November 03, 2022

XTM Inc. (“XTM” or the “Company”) (QB: XTMIF / CSE:PAID / FSE:7XT), a Miami and Toronto-based Fintech creator of disruptive payment innovations specifically for service industries including hospitality, personal care and service staff, is partnering with Restaurants Canada, an industry-leading non-profit association representing over 30,000 foodservice professionals to provide practical solutions that will ensure restaurants are protected when it comes to payouts of gratuities.This webinar comes on the heels of a recent court case involving a restaurant in downtown Halifax. Nova Scotia and the Canadian Revenue Agency (CRA), which has received national media coverage and the attention of the entire industry across the country, with operators on-edge about how to protect their own business from a similar fate. During the webinar, operators will learn about the important distinctions between direct versus controlled tips, the recent Federal Court of Appeal case on electronic gratuities and actionable solutions that restaurant owners can implement to ensure tip compliance, today. XTM is committed to helping restaurants across Canada protect their businesses against liability related to tip allocations and disbursements. As a leading tech company working to solve payment pains for service operators and frontline workers, it is a top priority that the company remains proactive in developing solutions to help the ever-changing complexities of the hospitality industry. “We know that restaurants across Canada have been seeking resolute answers regarding their payout operations, As part of our enduring commitment to being the compliant payment platform in North America, we’ve collaborated with Restaurants Canada and industry expert, James Rhodes, to provide a webinar for our clients that covers legal context, a tangible action plan and next steps for getting onside with gratuity compliance.” -Marilyn Schaffer CEO, XTM Inc. XTM recently rebranded its #1 payment solution, called ‘Today’ as well as their mobile app ‘Today Financial’. Over the past 12 months, XTM has added many new establishments to its Today program reporting year over year growth at end of Q2 2022 of 224% for Revenue and 405% for Gross Dollar Value loads. The Today platform offers an integrated suite of products that enables instant and secure payouts to staff, with less friction and with less discrepancies, leading to happier and more motivated employees. On the operator side, it offers more efficiency, transparency and improves staff recruitment and retention. Most importantly, Today offers a means to become fully compliant with payouts of gratuities, and not just for the hospitality industry. The Today solution could have far-reaching benefits for many other beauty, wellness and grooming industries and any other business owner who employs individuals that receive electronic tips from their customers. About XTM XTM, www.xtminc.com, is a Miami and Toronto-based fintech innovator helping businesses disseminate and their workers access earned wages and gratuities instantly. XTM's Today™ Solution, comprised of a free mobile app and a Visa or Mastercard debit card with free banking features, is used by thousands of employees in restaurants, salons and service positions across Canada and the United States. XTM is a global card issuer and real-time payment specialist and our payment platform is used at no charge by businesses to automate and expedite worker payouts and eliminate cash from their ecosystems. XTM's Today solution drives enterprise value with efficiency, helps attract and retain a workforce with a bespoke user experience designed specifically for employees, contract staff and workers in restaurants and personal care services.

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TRAVEL TECHNOLOGY,HOSPITALITY TRENDS

Optii to Roll out Its Hotel Operations Platform at The Alexander

The Alexander and Optii Solutions | November 17, 2022

Optii Solutions, the leading hotel operations software, today announced that The Alexander, A Dolce Hotel in Indianapolis has selected Optii as its hotel operations platform. The Alexander has adopted the full Optii platform to support its hotel operations team to work more efficiently and effectively. The property features 209 rooms across two towers, with 157 hotel rooms, and 52 extended stay residences. This layout and room mix increases the operational complexity, especially for the housekeeping staff when it comes to turnaround times and cleaning sequences. Kevin Green, Director of Operations, The Alexander, said: “We are always looking at how we can improve both the efficiency of our operation and the guest experience we provide. Using Optii to automate our housekeeping teams’ cleaning routes has saved us a considerable amount of time, so that guests can have earlier access to their rooms. Overall, guest satisfaction has been high since Optii’s adoption, and less time is wasted between when a room attendant is finishing a room and starting the next clean. It’s a win-win. “We are thrilled to have The Alexander as a customer. The dedication to sharing arts and culture with guests, really drives home what exceptional hospitality and experiences is all about. We are glad that we can play a part in removing operational challenges, so that the staff can focus on sharing the beautiful property with their guests.” -Katherine Grass, CEO, Optii Solutions, About The Alexander Nestled in the CityWay area of downtown Indianapolis, The Alexander, A Dolce Hotel, pairs contemporary design with unparalleled hospitality. Blocks from both the Gainbridge Fieldhouse and Lucas Oil Stadium, the downtown Indianapolis hotel is only minutes from top attractions and local events, including museums, professional sports, and the Indiana Convention Center. About Optii Solutions Optii Solutions is a hotel operations solution that leverages smarter technologies such as artificial intelligence, analytics, messaging and mobility to improve the efficiency and effectiveness of housekeeping and service delivery departments. For further information about Optii, please visit: www.optiisolutions.com

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AIRLINES AND AIRPORTS

Canada Jetlines Partners with Sabre on Global Distribution Agreement

Canada Jetlines Operations Ltd. | September 21, 2022

Canada Jetlines Operations Ltd. (NEO: CJET) (“Canada Jetlines”) the new, all-Canadian, leisure airline, is proud to announce a worldwide distribution agreement with Sabre, the leading software and technology company that powers the global travel industry.This new long-term agreement ensures that Sabre will distribute the carrier’s comprehensive content for travel agencies and corporations through the Sabre travel marketplace (GDS) -- supporting Canada Jetlines in powering future revenue growth while reaching key market segments associated with the GDS. Canada Jetlines will leverage Sabre’s ancillary services to provide travel agencies around the world with access to the airline’s complete range of travel products, including fares and seat availability. “We are pleased to have achieved this agreement with Sabre, which broadens Canada Jetlines’ distribution capabilities to meet our international growth objectives, This partnership aligns with our projected distribution strategy of providing the right content in the right channel. As a leisure airline, Canada Jetlines recognizes the key role that travel agencies play in our success.” -Duncan Bureau, Chief Commercial Officer of Canada Jetlines The Sabre travel marketplace is instrumental in facilitating the marketing, sale and servicing of airfares, hotel rooms, rental cars, rail tickets and other types of travel to buyers around the world who use it to shop, book and manage travel. Canada Jetlines will begin operations out of its travel hub at Toronto Pearson International Airport (YYZ), with its first scheduled route into YYC Calgary International Airport on September 22, 2022, with biweekly flights operating Thursdays and Sundays out of Toronto (YYZ) to Calgary (YYC) from 07:55am EST – 10:10am MST and returns from Calgary (YYC) to Toronto (YYZ) 11:40am MST – 17:20 EST. Frequency will increase to three flights per week, Thursdays through Sundays, starting later in the fall. Visit Jetlines.com to view the flight schedule and to learn more. Travellers can book reservations and vacation packages with preferred travel agents who can earn up to 10% commission on all base fares when contracted directly with the airline. Follow Canada Jetlines on all social media platforms and follow #CanadaJetlines for the latest news. About Canada Jetlines Canada Jetlines is a leisure focused air carrier, which will utilize a growing fleet of Airbus 320 aircraft to provide Canadians with value vacation choices and convenient travel options. Canada Jetlines will provide exciting vacation packages to iconic Canadian destinations and beyond via strong partnerships with airports, CVB’s, tourism entities, hotels, hospitality brands, and attractions. With a projected growth of 15 aircrafts by 2025, Canada Jetlines aims to offer the best-in-class operating economics, customer comfort and fly-by-wire technology, providing an elevated guest centric experience from the first touchpoint. To learn more, please visit www.jetlines.com and follow on all social media platforms for news and updates.

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Spotlight

Community-based tourism has become one of the sector’s fastest growing segments globally, as new generations of travelers seek more meaningful experiences from their leisure time. These avid travelers are searching for much more than sun, sea and sand; they desire to immerse themselves in the nature, heritage and cultural experiences of the destinations they visit.

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