BUSINESS TRAVEL

LBA Hospitality Acquires Management Contract for the Best Western New Smyrna Beach Hotel & Suites

LBA Hospitality | June 13, 2022

LBA Hospitality Acquires Management
LBA Hospitality, an Alabama–based hotel management company, announced that it has recently taken over the management contract for the 101-suite Best Western New Smyrna Beach Hotel & Suites. The beachfront hotel located at 1401 South Atlantic Avenue is owned by Key International.The eight-story property is situated 15 miles from Daytona Beach International Airport, and just a short drive from Disneyland and Cape Canaveral and the Cape Canaveral National Seashore. The hotel offers guests convenient access to Turtle Mound, Ponce Inlet, Daytona Racetrack and numerous activities in and around the idyllic waters and sandy beaches of New Smyrna Beach.

"I fell in love with New Smyrna Beach when we opened our first hotel here in 2012. It has that small beach town charm, great food, a nationally recognized arts scene, and the amazing white sand beach and blue water of the Atlantic Ocean, I am excited that we have added a one-of-a-kind accommodation that literally offers a toes-in-the-sand experience for visitors from around the world."

-Beau Benton, president of LBA Hospitality.

The Best Western New Smyrna Beach Hotel & Suites guestrooms feature luxury bedding, kitchenettes, as well as balconies with unobstructed views of the gorgeous blue waters of the Atlantic Ocean. Amenities include an outdoor swimming pool with a sundeck, a fitness center and onsite dining.

About LBA Hospitality
Established in 1973, LBA Hospitality is one of the leading hotel management, development, and consulting companies in the US. With an extensive portfolio of hotels located in the Southeast and Southwest, the company is a recognized leader developing and operating the most respected brands under franchise licenses of Marriott International, Hilton Worldwide, and InterContinental Hotel Group. For more than four decades, LBA Hospitality has continued to set a higher standard in hotel development, management, and guest satisfaction, resulting in sustained, profitable growth for owners. For more information, visit www.lbahospitality.com.

About Key International
Key International is a full-service real estate firm bringing over 30 years of leadership and success in global investments and developments, with offices in Miami and Madrid. With a proven track record in generating excellent returns for partners, the firm specializes in real estate projects that improve customers' lifestyles through great locations and quality product. This includes forward-thinking considerations for everyday life, work, convenience, entertainment, and leisure. Following these principles, Key International is one of the few real estate firms with the demonstrated ability to deliver success across multiple real estate classes – including condominium, hospitality, multifamily, and office. Such diversification is a cornerstone of its approach and serves to maximize future development and investment opportunities.  

With over 10 million square feet in residential developments, notable projects include Eden Roc Resort Miami Beach, Marriott Stanton Hotel South Beach, 400 Sunny Isles, 1010 Brickell, and the master plan of Riverfront Community (a 13.5-acre gated community in Downtown Miami). Additionally, Key International manages over $1.5 billion in assets under its current hotel portfolio comprised of over 3,000 hotel units. Please see keyint.com for more information on the company and its portfolio.

Spotlight

The travel and tourism industry is booming. During 2017, the UN’s International Year of Sustainable Tourism for Development, international tourist arrivals grew by 7% to reach a total of 1.326 billion. This total far exceeds the United Nations World Tourism Organization’s 2010-2020 long-term projections of 3.8% growth per year.1 In January 2018, UNWTO projected a 4-5% increase for 2018;2 during the first four months of 2018, growth was 6%, already surpassing expectations.3 In addition, UNWTO provides rough estimates that apart from the 1.3 billion international trips, there are another 5-6 billion domestic trips. 4 What factors are responsible for this growth? The range of causes that have been identified include, but are not limited to, a growing middle class, emerging new travel markets, improved connectivity, and travel options to fit a wide range of budgets. The World Travel & Tourism Council reports that in 2017, the travel and tourism sector accounted for 10.4% of global GDP and 313 million jobs, or 9.9% of total employment.5 At its best, the travel industry provides critical economic, environmental, and sociocultural value. But in recent years, the question for an increasing number of destinations has become, “How much is too much of a good thing?” At the same time, under-touristed and emerging destinations are vying for their piece of the pie. How do we sustainably and equitably distribute the benefits so that destinations on both ends of the spectrum can thrive? When considering these questions, it is helpful to understand the following terms.


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HOSPITALITY TRENDS

Choice Hotels International to Acquire Radisson Hotel Group Americas

Choice Hotels International, Inc | June 14, 2022

Choice Hotels International, Inc. (NYSE: CHH) and Radisson Hotel Group announced that Choice Hotels has entered into a definitive agreement to acquire the franchise business, operations and intellectual property of Radisson Hotel Group Americas for approximately $675 million. The addition of Radisson's nine hotel brands in the Americas is the latest chapter in Choice's successful strategy to expand its growth opportunities by bringing the company's best-in-class franchising platform to adjacent hotel segments and to a new set of hotel owners. The added 624 hotels with over 68,000 rooms expand Choice Hotels' presence in the upscale and core upper-midscale hospitality segments, particularly in the West Coast and Midwest of the United States.The acquisition of some of the industry's most recognized brands extends Choice Hotels' customer reach in the upscale segments, as well as to more business travelers and a broader demographic within Choice's core leisure segment. The combination strengthens Choice's ability to provide a more holistic product offering across segments and continue to capitalize on consumer trends expected to fuel future demand for travel such as remote work, increasing retirements and road trips. The transaction brings Choice's industry-leading RevPAR (revenue per available room) growth performance to a new set of franchisees and hotel investors and provides new growth opportunities to expand Choice Hotels' presence to additional locations in Canada, Latin America and the Caribbean. Consistent with Choice Hotels' long-term strategy of growing in higher revenue segments, the Radisson brands typically have larger room counts and are located in higher RevPAR markets, driving higher royalty revenue per hotel. "Choice has a well-established history of smart acquisitions in new segments where our world-class franchising engine can spur future growth. This transaction brings together two highly complementary businesses, enhancing our guest offerings in the core upper-midscale hospitality segments, while extending our reach into the upper upscale and upscale full-service segments and in higher revenue geographic markets. We are confident that guests and franchisees will significantly benefit by combining these two exceptional sets of brands." -Patrick Pacious, President and Chief Executive Officer of Choice Hotels The transaction unlocks significant potential value for the Radisson brands in the Americas. Choice Hotels has a deep familiarity with the Americas franchisee community and will bring a strong commitment to driving the success of Radisson franchisees, many of whom already have franchise agreements with Choice Hotels. Pacious continued, "Our long track record of establishing mutually beneficial relationships with our franchisees has resulted in a best-in-class voluntary retention rate, and those franchisees are the source of a majority of our new hotel development. Our existing and new hotel owners will benefit from the improved business delivery capabilities of the combined companies, including our award-winning loyalty program, proprietary tools and emerging technologies that will enable them to capture more business, lower their hotel operating costs, reach new customers and respond to evolving industry trends." Federico J. González, CEO of Radisson Hotel Group, said, Since the introduction of our strategic transformation plan in 2017, Radisson Hotel Group has been committed to the global success of the Radisson brands and expanding the overall footprint of our global operations. We have achieved strong results, doubling the number of rooms signed per year in EMEA and APAC, confirming Radisson Blu as the largest upper-upscale brand for over 10 years and establishing Radisson as the upscale brand with the largest growth in EMEA. We are confident that Choice Hotels is the owner with the right long-term strategy, resources and management team to successfully accelerate the growth of the Radisson business in the Americas. Radisson Hotel Group will continue to leverage the strength of operational excellence to set our business in EMEA and APAC on a significant growth path with the aim of doubling the portfolio in those markets by 2025. Together with Choice, we will work to ensure that customers continue to experience the highest levels of service and a superior brand experience. "Our associates have been working hard to solidify the power of our brands, build a better commercial engine and offer best-in-class solutions to franchisees and customers. We are very pleased that the Radisson family of brands in the Americas will join Choice Hotels. We believe that this acquisition will drive growth in a highly competitive market and enable stronger performance for our franchisees."About Choice Hotels® -Tom Buoy, interim CEO of Radisson Hotel Group Americas Choice Hotels International, Inc. (NYSE: CHH) is one of the largest lodging franchisors in the world. With nearly 7,000 hotels, representing nearly 600,000 rooms, in 35 countries and territories as of March 31, 2022, the Choice® family of hotel brands provides business and leisure travelers with a range of high-quality lodging options from limited service to full-service hotels in the upscale, midscale, extended-stay and economy segments. The award-winning Choice Privileges® loyalty program offers members benefits ranging from everyday rewards to exceptional experiences. For more information, visit www.choicehotels.com. About Radisson Hotel Group Americas Radisson Hotel Group Americas represents Radisson Hotels operations and brands in the United States, Canada, Latin America and the Caribbean. The Radisson Hotel Group Americas portfolio of brands includes Radisson Collection, Radisson Blu, Radisson, Radisson RED, Radisson Individuals, Radisson Inn & Suites, Park Plaza, Park Inn by Radisson and Country Inn & Suites by Radisson, brought together under the overarching Radisson Hotels Americas name. For more information visit www.radissonhotelsamericas.com About Radisson Hotel Group Radisson Hotel Group is one of the world's largest and most dynamic hotel groups with nine distinctive brands, more than 1,700 hotels in operation and under development, more than 260,000 rooms and a footprint spanning over 120 countries and territories. 100,000+ global team members work for the Radisson Hotel Group and at the hotels licensed to operate in its systems. The Group's overarching brand promise is Every Moment Matters with a signature Yes I Can! service ethos.

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TRAVEL TECHNOLOGY

Travel Super App Innovator, TRZMO Announces Launch of 'Moments' Feature

TRZMO | June 28, 2022

TRZMO has launched version 2.0 of its travel super-app at Phocuswright Europe 2022, the leading global travel conference. A highlight of the new version of the TRZMO app is the new 'Moments' feature which allows users to capture images with GPS data and share memories in their travel diary within the app. These Moments can be shared in the future on the TRZMO app and other social platforms.The app is free on Apple App store and Google Play store for a limited time to celebrate the exciting new 'Moments' feature. Moments helps to capture images of destinations and experiences to include in the TRZMO trip timeline. For each trip, users can add 'Moments' to look back on or share amazing discoveries made on a trip – from a hidden gem of a restaurant to a little known beach or a local shop that doesn't have a website, but deserves to be shared. The 'Moments' feature is also valuable for business travelers to record business expenses. This new feature makes the TRZMO app more engaging, and makes travel more interactive amongst people along for the trip, or looking for travel inspiration, recommendations or ideas of what to do, eat or experience. 'Moments' on TRZMO allow a traveler to record treasured experiences with a personal note or reflection right in the app which places it thoughtfully in the context of a trip, rather than just having photos lost in the shuffle of a smartphone album. "Since the launch of our strategic advisory board and funding of $1.2 million in Q1 2022, TRZMO has been committed to evolving our free flagship app into a true travel super-app. It replaces multiple apps with one dashboard to manage flight updates, gate changes, ground transport, loyalty programs and a myriad of travel logistics from duty-free shopping to dining, weather and time-zones coupled with AI-driven, real-time recommendations and special offers. The new Moments feature is a game-changer, making the app more personalized, inspiring and engaging," -Myank Jain, Founder and CEO of TRZMO.AI Advisory Board members include Josh Wiess, an angel investor focusing on early stage tech start-ups and Conor O'Mahoney, a proven travel industry entrepreneur and innovator, and a member of Hub Angel Investment Group. TRZMO is a consumer travel super app with robust functionality. At the Phocuswright Europe 2022 conference, the company is focused on growth, adoption and mutually-beneficial partnerships. About TRZMO TRZMO is the ultimate travel super-app, available free for a limited time on the Apple App Store and Google Play Store. It presents flight itineraries, ground transportation recommendations and logistics, local weather, time, currency, and duty-free shopping recommendations on your route in one dashboard. TRZMO automatically pulls flight itineraries from your calendar, facilitating trip management without data entry like first-generation apps, and notifying you of real-time flight changes. It displays the best duty-free prices and offers along your route to be sure you get what you want at the best place, time and price with one search. TRZMO also manages loyalty cards so you can earn points, maximize value, and spend time enjoying travel instead of navigating a myriad of single-function apps. TRZMO also captures moments from travels, to save in your journey's timeline in the app or share on other platforms. Follow TRZMO on LinkedIn, Instagram and Facebook.

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HOSPITALITY TRENDS

ZentrumHub Announces Strategic Partnership With WIHP, A Leading hotel marketing Company

ZentrumHub | May 31, 2022

ZentrumHub, a leading Hotel aggregator API specialist, and WIHP, the Hotel marketing specialists, announced a strategic partnership that will enable ZentrumHub' customers to get an easy access to metasearch channels and engines like Google Hotel Ads, TripAdvisor, Trivago, Bing Hotel Ads, etc. With WIHP's Meta I/O solution, ZentrumHub customers will now be able to better monitor and control their Metasearch distribution. ZentrumHub, as a start-up, is trying to make an impact in this space by providing its customers more and additional access to technologies that will add value to its clients business. This partnership is a great testimony of this core belief of the company and as next steps, will continue to add more partnerships in its kitty. ZentrumHub now offers more than 900,000 hotel inventory API to its customers with unique properties across the world, enabling their clients to provide a wide choice of hotels to their customers. "With the ever-growing demand for hotels, today's travellers want hotel searches to be quick and painless. With this partnership travel agencies using ZentrumHub Hotel API will be able to position their ads in metasearch engines and increase traffic to their reservation system driving more business." -ZentrumHub CEO Sachin Singh Julio Selva, Vice President of Strategic Partnerships at WIHP, said, "Metasearch plays an important role in distributing hotels since 70% of users connect to them during a purchase journey. With Meta I/O, ZentrumHub can help their clients sell more on metasearch." About ZentrumHub: ZentrumHub turned its dream into reality in 2021 by accelerating its travel-tech venture and on a mission to be the fastest and smartest travel API hub in the world. ZentrumHub offers pre-integrated hotel booking API to over 50 leading hotel content suppliers. About WIHP: World Independent Hotels Promotion (WIHP) is a leading hotel marketing agency drawing on more than 20 years of experience and tracking. Having built over 5000 hotel websites and tracked the most efficient ones. With high-end marketing campaigns, WIHP provides global marketing services to the hospitality industry. To learn more, visit wihphotels.com

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AIRLINES AND AIRPORTS

TripStack and Navitaire Announce Strategic Partnership to Bring Virtual Interline Technology to Airlines

TripStack and Navitaire | June 29, 2022

TripStack and Navitaire announced that the companies have entered into a strategic partnership that will enable Navitaire hosted carriers to sell Virtual Interline (also known as self-connect) itineraries powered by TripStack technology.The partnership will give the 60+ Navitaire hosted carriers the opportunity to expand their existing network and generate additional revenue without the cost and complexity associated with traditional interline agreements. Virtual Interlining combines flights between carriers without traditional interline agreements, with passengers being responsible for transferring their checked baggage between carriers at connecting airports. The benefits include access to lower fares and more flight connection options. Transfers are protected by the TripStack Self-Connect Guarantee which provides in-trip customer support in case of missed connections or schedule changes. “We have been working very hard to build our Self-Connect technology and are very excited to be partnering with a highly respected company such as Navitaire. We look forward to serving Navitaire customers and further expanding Self-Connect solutions together with Navitaire in the future. It is such an exciting time to be in the travel industry.” -Gabor Toth, CEO of TripStack We believe our partnership with TripStack, another leader focused on enabling true Virtual Interline capabilities, can provide groundbreaking opportunities for our airline customers,” said David P. Evans, Navitaire CEO. “Together, we’ll offer a flexible and less complex way for airlines to reach more customers using modern technology to streamline the Virtual Interline booking process. About TripStack TripStack (www.TripStack.com), founded in 2016, is a global leader in Virtual Interlining (VI) technology. Virtual Interlining combines carriers, without traditional interlining agreements, into a single itinerary. It allows airlines to expand their network and product offering while providing travellers with more connections at better prices. TripStack is based in Canada, India and Poland, and is part of the ETraveli Group of companies. About Navitaire Navitaire (www.navitaire.com), an Amadeus company, delivers industry-leading technology services supporting growth, profitability, and innovation to more than 60 airlines and rail companies worldwide, carrying a total of 819 million annual passengers in 2019, including many of the world’s most successful low-cost and hybrid airlines. Navitaire offers a full suite of proven solutions focused on revenue generation and streamlining costs in reservations, ancillary sales, loyalty, revenue accounting, and business intelligence. Navitaire has offices in North America, Europe, Asia, and Australia, and is a wholly owned subsidiary of the Amadeus Group. Learn more about Navitaire’s industry leadership in shaping the world of travel at www.navitaire.com.

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Spotlight

The travel and tourism industry is booming. During 2017, the UN’s International Year of Sustainable Tourism for Development, international tourist arrivals grew by 7% to reach a total of 1.326 billion. This total far exceeds the United Nations World Tourism Organization’s 2010-2020 long-term projections of 3.8% growth per year.1 In January 2018, UNWTO projected a 4-5% increase for 2018;2 during the first four months of 2018, growth was 6%, already surpassing expectations.3 In addition, UNWTO provides rough estimates that apart from the 1.3 billion international trips, there are another 5-6 billion domestic trips. 4 What factors are responsible for this growth? The range of causes that have been identified include, but are not limited to, a growing middle class, emerging new travel markets, improved connectivity, and travel options to fit a wide range of budgets. The World Travel & Tourism Council reports that in 2017, the travel and tourism sector accounted for 10.4% of global GDP and 313 million jobs, or 9.9% of total employment.5 At its best, the travel industry provides critical economic, environmental, and sociocultural value. But in recent years, the question for an increasing number of destinations has become, “How much is too much of a good thing?” At the same time, under-touristed and emerging destinations are vying for their piece of the pie. How do we sustainably and equitably distribute the benefits so that destinations on both ends of the spectrum can thrive? When considering these questions, it is helpful to understand the following terms.

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