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Category: News

  • News: Room 77 appoints new CEO

    Hotel search engine Room 77 has named travel industry and search veteran Drew Patterson as chief executive officer. The appointment comes at the heels of a $30 million financing around the company recently announced, that is getting used to accelerate Room 77’s growth and international expansion.

    “Room 77 has experienced tremendous growth inside the last year, and Drew has the ideal background in travel and search to assist take the corporate to the subsequent level,” said Brad Gerstner, founder and Chairman of Room 77.

    “The Room 77 team has built a big hotel search engine, which customers are raving about because it’s faster, easier to exploit and it’s helping them find better deals. Drew’s history as a product pioneer and brand builder will continue that momentum and help deliver our message to a much wider audience. Shall we not be more excited for him to be joining at this key moment inside the company’s growth cycle.” Adds Gerstner.

    Patterson, a graduate of Harvard College and Columbia Business School, is a seasoned travel executive. As one of the vital founding employees at travel metasearch site Kayak, he was instrumental in building the business and brand, serving in business development roles after which as vp of selling. He left Kayak in 2009 to co-found Jetsetter, which he helped build into the leading travel brand inside the flash sales segment with greater than $100 million gross bookings.

    After leaving Jetsetter, Patterson co-founded a stealth mobile hotel startup called CheckMate, which Room 77 is simultaneously acquiring as portion of Patterson’s appointment. The CheckMate product and team are an outstanding complement to Room 77’s mission of creating the world’s best hotel search engine.

    “Room 77 is a massive company with an international-class team. Their history of product innovation is impressive, and Room 77 has created an experience that travelers love and use many times,” said Patterson. “Travel search is a class with huge potential, further accelerated by the rapid shift to mobile. I‘m thrilled to come back to my search roots in an industry i like, and that i sit up for building Room 77 right into a global hotel search leader.”

    The company has raised $43.8 million to this point from companies, venture capitalists and high-profile angels, including Expedia, Inc and Concur Technologies.

  • 21% of yank adults spend $197 Billion on obligation travel

    With wedding season fast approaching, Hotwire.com, a number one discount travel site, today revealed more results from its second annual American Travel Behavior Survey, conducted online on its behalf by Harris Interactive in October 2012 among over 2,000 U.S. adults. In accordance with the survey, over the last 365 days, 21 percent of yank adults spent up to $197 Billion on trips they felt obliged to take. Furthermore, 48 percent of american citizens spent money on obligation trips to weddings of friends and family in the course of the same period of time and were anticipating they might do an identical next season. With such a lot money allocated to obligatory travel, travelers can be excited by removing the thrill trips they wish to take because they think they won’t be capable to afford them. The excellent news is the travel experts at Hotwire have compiled a Where to move Now & How Guide to the head five affordable and fun destinations for spring, so even though travelers must attend a marriage or another obligatory event this season, they ought to look to 1 of the ensuing destinations for more fun-on-the-dollar.

    “We know Americans around the country are using large portions in their travel budgets on the way to make it to all those ‘must see’ moments in reasonable weddings, reunions, birthdays and major holidays,” said Clem Bason , president of the Hotwire Group. “Fortunately, obligation trips don’t should come on the cost of leisure travel when you’ve got the appropriate resource guiding you toward savings. We’re offering deep discounts to numerous locations in order that this year you are able to comfortably afford both the must-go and must-have trips.”

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  • News: Abu Dhabi hotels record double digit growth

    Abu Dhabi’s 141 hotels and hotel apartments generated double digit growth in guest nights, revenue, occupancy and average-length-of-stay last month with guest arrivals nudging up 7% at the same month last year.

    Figures just released by Abu Dhabi Tourism & Culture Authority (TCA Abu Dhabi), show 196,518 guests stayed inside the emirate’s hotels and hotel apartments last month delivering 676,445 guest nights – a 23% rise on February 2012.

    “The fundamentals show that individuals are staying longer within the emirate which demonstrates that our message of there now being much more to determine and do due to expanded resort, attractions and business events offerings is resonating well,” said HE Mubarak Al Muhairi, Director General, TCA Abu Dhabi.

    “Average-length-of-stay climbed 15% in the course of the month-on-month comparison to face at 3.44 nights.”

    Hotel occupancy during February climbed 12% to a healthy 78% with the typical room rate rising by 7% to AED553 (US $150). Total revenue for the month came in at AED 503.3 million (US $137 million) – up 7% on February 2012 – with room revenue rising 31% to AED282.4 million (US $76.9 million) or 44% of total revenues. Food and beverage returns rose 14% to AED178.2 million (US $48.4 million) representing 35.4% of total revenues.

    February’s performance suggests that inside the first two months of this year, Abu Dhabi is riding a 5% upturn in guest arrivals on year-to-date comparisons with 2012 with rises in all key performance indicators apart from the common room rate which has slipped by just 1%.

    During February the united kingdom reclaimed its place on the emirate’s best performing international source market just previous to India, after being displaced for the #1 slot by the Sub-continent republic in January.

    UK arrivals in the course of the month rose 10% to twelve,595 accounting for 61,309 guest nights, which was up 20% month-on-month and a 9% increase inside the average-length-of-stay of four.45 nights. Indian guests amounted to ten,754, which was up 16% on February 2012, and translated into 54,418 guests nights – a 54% rise- and a median length of stay of three.81 nights, which was up by 33%.

    Germany is the third most efficient hotel guest market. Some 9,449 Germans stayed within the emirate’s accommodation, which was up 12% at the comparative period, and produced 36,688 guest nights – an increase of 18% – with Germans staying on average 4.34 nights.

    There were sharp upward guest arrival spikes from China and Russia. a complete of five,849 Chinese checked into Abu Dhabi hotels during last month – 196% greater than February last year. They accounted for 9,412 guest nights, which soared by 126% on February 2012 though they stayed for shorter periods delivering an ordinary-length of stay of just 1.61 nights. China now ranks as Abu Dhabi’s seventh international source market when it comes to guest arrivals.

    “We are looking hard at developing specific product to entice longer stays by our Chinese visitors and believe the staging of the Chinese Visitor Summit in Abu Dhabi this coming September, once we have the likelihood to sell the emirate to 75 leading Chinese bookers will assist us in this path” said Al Muhairi.

    Russian guest arrivals in February shot up 119% to two,125. These guests accounted for a 182% increase in guest nights to twelve,484 staying a regular of five.87 nights – a 29% month-on-month increase in average-length of stay.

    “Russians are our longest staying guests after those from america,” explained Al Muhairi.

    “Russian guests are largely leisure-focussed while those from the States are predominantly business visitors. Our leisure proposition has improved by leaps and limits during the last year with new beachfront resorts, the Yas Waterworld waterpark and new beach openings both on Saadiyat and Yas islands. We’re coming of age at the leisure front while refocusing at the business events segment with the hot launch of the Abu Dhabi Convention Bureau. We’re confident that with this new, highly focussed body, which has already re-energised our Advantage Abu Dhabi meetings incentives, we will secure significant new business within the corporate and MICE segments.

    “We are well placed to make an enduring and positive impression one of the industry leaders who will join us in Abu Dhabi this April for the area Travel & Tourism Council Global Summit 2013. We can use this pre-eminent forum to clarify our ambitions and persuade these influencers that our time as a balanced leisure/business destination has come.”

  • News: IMEX launches new hosted buyer benefits

    Following the successful test and roll-out of a brand new single email inbox for hosted buyers at IMEX America last year, the IMEX Group is introducing a similar concept for all hosted buyers at IMEX in Frankfurt 21- 23rd May 2013.

    The new online tool works by amalgamating all exhibitor communications to a given buyer into an inbox at the IMEX website. Buyers receive a single daily email alert directing them to the net inbox which might be searched by keyword, exhibitor name and subject line. Appointments could be made directly from the messages inside the inbox. Concurrently the buyers’ diaries has been completely updated with a fresh new user-interface reducing the variety of clicks to make an appointment from 7 to three. On this way, email volumes are greatly reduced for buyers and appointment making is simpler, quicker and more productive.

    Says Carina Bauer, CEO of the IMEX Group: “This is among the main online developments we’ve made for IMEX buyers in recent times. It was warmly welcomed within the US so we predict the same reaction to its simplicity and user-friendliness for our Frankfurt show. We all know that consumers are extremely busy and one of the simplest ways we will help them maximise their business ROI from the show is to make planning and preparation as simple, targeted and as quick as possible.”

    Other new innovations for buyers include a brand new Networking Hub at the show floor to assist them meet and find peers, a brand new educational forum for corporate planners – Exclusively Corporate @IMEX, a redesigned educational programme including a brand new Research Pod on the Inspiration Centre and hundreds of latest exhibitors from both established and emerging destinations.

    Last year IMEX in Frankfurt attracted just wanting 4000 meetings, incentive travel and events industry hosted buyers from 71 countries. Total attendance over the 3 days, including trade visitors, was 14,143. Over 64,000 business appointments came about between buyers and exhibitors in the course of the show, 40,000 of that have been made between individual buyers and exhibitors (the rest being group appointments).

  • Peachtree Hotel Group acquired six hotels during Q1 2013

    Peachtree Hotel Group, one of the most nation’s fastest growing hotel acquisition, management, development and ownership groups, today announced that it acquired/invested in six hotels within the southeastern U.s.a. in the course of the 2013 first quarter. At this pace, the corporate is definitely in advance of its previously announced goal of adding 15 hotels to its portfolio in the course of the coming year.

    “Our way to hotel investment begins with being flexible,” said Greg Friedman, Peachtree CEO. “Our growth strategy encompasses one hundred pc acquisitions, participating as a majority or minority owner, acquiring first mortgage hotel loans and third-party management.”

    Jatin Desai, chief investment officer, noted that the company’s diversified acquisition technique of both real estate and note acquisitions allows it to surface transactions very early within the process which yields more opportunities.

    “During the primary quarter, we checked out greater than 100 transactions, including individual assets and portfolios, but selected only six where we thought shall we add value at appropriate risk-adjusted returns,” said Desai. “While all but this type of transactions were equity-related, acquiring hotel loans remains a high priority for us. We wish to work with owners and operators who can have the benefit of restructuring of existing loans, cash infusions or providing other creative financing alternatives.”

    “Each of those assets is a good fit and complements our growing portfolio of 25 select service and extended stay hotels. The properties’ geographic locations and dynamics match up well with our technique of owning and managing hotels in primary and secondary markets,” said Mitul Patel, chief operating officer.

    In preparation for this growth spurt, the corporate added significant bench strength to both its acquisition/financing capabilities and hotel management. “We have the depth to comfortably add 15 hotels this year and will increase our goal if market conditions warrant such.” Patel said.

    The six hotels include:

    —The 85-room and suite Hampton Inn Okeechobee in Florida Peachtree made a majority investment inside the waterfront hotel situated on picturesque Lake Okeechobee. The hotel offers meeting space to deal with as much as 35 people, state-of-the-art business center, fitness room and 24-hour Suite Shop convenience store.

    —The 96-suite Homewood Suites by Hilton Durham-Chapel Hill/I-40 in North Carolina Peachtree acquired the extended-stay property located just off I-40, with easy accessibility to area highways and minutes from Raleigh-Durham International Airport (RDU). Duke University Medical Center, Duke University, UNC-Chapel Hill, prominent corporations, museums and other area attractions are within walking distance of the hotel in Durham. The hotel provides a complimentary breakfast bar, convenience store and outdoor pool.

    —The 98-room Four Points by Sheraton Durham at Southpoint in North Carolina Located 11 miles from Raleigh-Durham International Airport, the hotel, acquired by Peachtree, is nearby the Research Triangle Park, a hub of prestigious universities and leading tech and pharmaceutical companies and medical centers. The hotel has 1,800 square feet of banquet space, health club and indoor pool.

    —The 96-suite Residence Inn Little Rock hotel in Arkansas Peachtree made a sliver investment and now manages the extended-stay hotel. Located off Interstates 430 & 630, this Little Rock extended stay hotel is situated next to the Arkansas Heart Hospital and nearby to area attractions, along with UAMS, Verizon Arena, the Little Rock Downtown Historic District, The Clinton Library and Little Rock Zoo.

    —The 120-room Courtyard by Marriott Jacksonville I-295/East Beltway in Florida The fairway lodging certified hotel, now owned by Peachtree, offers a gym and outdoor heated pool and spa. The hotel is convenient to the JaxPort Cruise Terminal and gives overnight parking for cruise-goers and is near the Mayo Clinic, St. Luke’s Hospital, University of North Florida and Jacksonville University.

    —The 66-room Comfort Inn in Alabama Peachtree acquired the primary mortgage note.

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