UAE Restaurant Diners Might Quickly Take pleasure in Meals Constructed from Lab-Grown Meat
Written by: Rochak Khandelwal
All of us love meat after we collect round barbecues and on the dinner desk. But when somebody would have mentioned a number of years in the past that the meat steak or the burger we’re consuming is developed in a laboratory, it could sound like science fiction.
Meals critics first tried a lab-grown burger in 2013, and your entire world watched. The tiny pink patty was used as proof that it was possible to generate protected and palatable meat with out butchering any animals. It was taken out of a petri dish and cooked in entrance of the press. There was just one difficulty: it had value greater than $300,000 and two years to fabricate the patties. However costs for making this high-tech steak have dropped since then. In 2016, Memphis Meat developed their first lab-grown beef meatball for roughly $1,000. Now, a number of startups and non-profit organizations have invested in growing varied different meats and animal merchandise like rooster, pig, milk, egg whites, fish, and even leather-based which is able to fully be grown in labs.
First, what’s cultured or lab-grown meat, and what’s the course of of constructing cultured meat? Cultured meats are actual meat grown immediately from the cells of animals. These should not the identical because the vegan, vegetarian, or plant-based meat already obtainable in supermarkets. In easy phrases, cultivated meat is just like brewing beer the place yeast or microbes are grown — the one distinction is that cells of actual livestock are grown in a sterile and managed setting. Scientists start the method by taking small cell samples from livestock (with no need to kill the animal) and figuring out the very best cells which may multiply. Mosa Meat, a meals expertise firm from The Netherlands, claims that by simply taking small-sized pattern of cells, they will develop beef of their labs and from that one cell pattern, 80,000 burger beef patties could be produced.
In Singapore, a restaurant named 1880 served the lab-grown meat and have become one of many first eating places to promote this meat commercially. The corporate GOOD Meat created the aesthetic meat. Authorised by the Singapore Meals Commonplace Company in December 2020, the aesthetic meat was bought commercially by GOOD Meat, the primary on this planet to take action. An 11-year-old boy sat on the first desk to serve cultured meat by the GOOD Meat model in Singapore on December 19, 2020. Collin Buchan, the top chef of 1880, had the pleasure to serve the primary cultured rooster grown in a lab by GOOD Meat.
The Dutch authorities has determined to speculate 60 million euros in mobile agriculture which is the biggest funding by any authorities. This has excited the businesses concerned within the enterprise and might help type an ecosystem round mobile agriculture. The suggestion was made by the lately established group Mobile Agriculture Netherlands, of which Mosa Meat is a founding member. Academia, NGOs, start-ups, and different key actors within the enterprise are among the many member organizations.
In UAE, plant-based meats are available in supermarkets and fast-food eating places by means of corporations like Unattainable Burgers and Past Meat. However mobile meat can change the market and permit diners in UAE to take pleasure in actual meat grown in a lab from the cells of animals. Israel-based start-up firm Aleph Farms is now in talks to supply lab-grown beef steaks in Dubai. If all goes to plan, Dubai residents would have the ability to take pleasure in a lab-grown beef burger made proper right here in Dubai. Whereas most labs make minced meat, Aleph Farms wish to develop muscle groups, opening the door to the chances of steaks, lamb shanks and extra cultivated meats grown within the Emirates. This future meals improvement is feasible by means of 3D bioprinting expertise. Quickly after the launch of this cultured meat in UAE, we may even see a number of fast-food chains and steak homes undertake the way forward for meat to spice up gross sales and enhance earnings. Lab-grown meat could turn out to be extra reasonably priced sooner or later in comparison with conventional meat, in addition to additionally being probably extra sustainable and more healthy.
The large query that involves thoughts when pondering of mobile meat: is it actually wholesome and fit for human consumption cultured meat? Is it sustainable; does it actually assist fight local weather change and save the setting? To reply that, corporations like GOOD Meat, Mosa Meat and Aleph Farms confer with cultured meat “the way forward for meat” and search to show on their platforms that cultured meat is way more healthy to eat than conventional meat. Their justification is that it comes from animals and developed in a sterile setting. Scientists can gather pattern cells from the healthiest animals to scale back transmission of assorted ailments unfold by animals. Billions of animals are slaughtered for consumption worldwide and with a rise in inhabitants, this meals expertise might help battle the related environmental challenges and in addition save the lives of animals. Cultivated meat may scale back animal killing, along with lowering greenhouse gasoline emissions like carbon dioxide and methane, that are the principle causes of local weather change. Twenty-five % of the world’s greenhouse gasoline emissions are associated to the meals system, primarily from animal agriculture.
The business is simply round 10 years outdated and nonetheless a number of years away from being commercially obtainable on a big scale in varied nations. Till then, the advantages of produced meat for the well being of animals, folks and the setting are extra hope than a promise.
Rochak Khandelwal is a analysis scholar with the HFTP Center East Analysis Middle and pupil on the Emirates Academy of Hospitality Administration in Dubai, UAE.
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Resort Chelsea’s Elegant Foyer Bar Pays Homage to Resort Bars Across the World
The historic Resort Chelsea is quietly welcoming guests again via its doorways on West twenty third Avenue. After opening its Spanish-inspired restaurant El Quijote earlier this 12 months, the revamped New York lodge is introducing one other F&B idea for friends to find.
Eric Medsker
Extra from WWD
“The Chelsea’s at all times felt to me like a grande dame,” says property co-owner Sean MacPherson. “And it felt like the suitable factor was to create the grande dame of foyer bars. And so we tried to honor the prevailing structure and design, and construct one thing that felt previous world and traditional.”
The lodge’s new Foyer Bar — the constructing’s first lounge — faucets into the grandeur of iconic lodges worldwide and speaks to a European sensibility, whereas leaning into the constructing’s historical past. “It had been just a little down and out the final a number of many years, however it’s a ravishing previous constructing and it feels very very similar to the kind of lodge that is extra prone to be present in Europe over the States,” says MacPherson of the property, which was inbuilt 1884. “Most of those nice previous lodges have nice foyer bars, there’s by no means been one for some cause [at Hotel Chelsea].”
Eric Medsker
The Foyer Bar is positioned on the lodge’s floor ground, and options plush seating in jewel tones, classic lamps atop a marble bar and classic detailing. Lounge seating is spacious but intimate, catering to each the transient lodge visitor and native New Yorker. “There’s elbow room; you truly you possibly can sit down and make your self snug. It is like a very monumental lounge,” provides MacPherson.
Eric Medsker
The bar presents an upscale F&B menu crafted by the Sunday Hospitality workforce to enhance the elegant design of the house. Beverage director Brian Evans put collectively a complete cocktail menu that riffs on traditional drinks and in addition pays homage to iconic cocktails from bars all over the world, together with the Duke Martini for the Dukes Resort in London, Arnaud’s French 75 for Arnaud’s Restaurant in New Orleans, and Tommy’s Margarita for Tommy’s Bar in San Francisco.
“The home cocktails are a bit extra adventurous, and the tributes perhaps just a little extra acquainted,” says Charles Seich, who’s main F&B operations with Sunday Hospitality. The meals menu is the work of chef Jaime Younger, who appeared to small plates to pair nicely with drinks — caviar, soiled martini oysters, beef tartare.
The Foyer Bar just lately smooth opened, and the lodge will proceed to introduce new ideas via the autumn, together with a French-American restaurant and rooftop spa and health middle. A personal occasions house, the Bard Room, additionally just lately opened.
“We’re not making an attempt to make it splashy,” says McPherson of the lodge’s reintroduction. “The constructing’s been right here since 1884, and we’re simply making an attempt to take care of its constant narrative.”
Courtesy of Annie Schlechter
Eric Medsker
Eric Medsker
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As Occupancy Stalls, Parking Drives Hotel Revenue Growth
By Robert Mandelbaum and Todd Casper
Based on the February 2023 Hotel Horizons® report, CBRE is forecasting that total hotel revenue for the average US hotel returned to pre-COVID levels in 2022. This occurred despite the fact that the average occupancy for US hotels is not expected to exceed 2019 levels until 2026.
With occupancy levels lagging during the post-COVID recovery and guest counts depressed, hotel owners and operators have had to look for alternative sources of revenue beyond the rental of guest rooms to make up for the income deficits. For some hotels in the US, parking has become a profitable source of revenue since COVID and helped fill in the revenue gap.
The increase in parking revenue has occurred, in part, because an increasing number of hotels started to charge guests for on-site parking. In 2019, 17.0 percent of all the hotels in CBRE’s annual Trends® in the Hotel Industry database reported parking revenue. This number rises to 20.4 percent in 2022. Further, hotels that already managed a parking operation before COVID increased the price they charged guests to park their cars.
To analyze the increase in US hotel parking revenue, CBRE studied a sample of 520 hotels that reported parking revenue for our annual Trends® survey each year from 2019 through 2022. In 2022, these hotels averaged 324 rooms in size, an occupancy of 65.4 percent, an average daily rate of $245.25, and a RevPAR[1] of $157.05, versus the $163.07 RevPAR achieved in 2019. Since the sample consists solely of properties that reported parking revenue, it is skewed toward full-service hotels located in urban areas. This explains the relatively high room counts and ADRs for the sample.
Revenue Growth
Since larger, urban hotels have suffered the most during the pandemic, it is not a surprise that the average property in our sample has yet to return to their pre-COVID levels of total hotel revenue. On average, 2022 total revenue for the study sample is just 95.9 percent of 2019 total revenue.
However, parking revenue for properties in the study sample is 103.1 percent of 2019 levels. This is particularly noteworthy because the number of rooms occupied at the average property in the sample from 2022 was still 14.6 percent less than in 2019. Parking revenue, which is measured on a per-occupied-room (POR) basis, was 20.7 percent higher in 2022 compared to 2019, there is a clear indication that hotels have significantly increased the price they charge guests to park. Parking rate increases are not only an effective way to increase revenue, but they also help offset inflationary pressures on operating expenses.
Consistent with macro travel trends, resort hotels, as well as properties located in resort/destination locations, enjoyed the greatest increase in parking revenue from 2019 to 2022, both on a POR and per-available-room basis. This implies increases in both parking prices and business volume. Limited-service and extended-stay hotels appear to have benefited from their relatively strong performance to drive parking revenue during the post-COVID recovery period. Airport properties were another group of hotels that took advantage of their location to be creative and generate more revenue from their parking lot or garage.
Several factors currently influence the decisions hotel managers make as they set parking rates:
- Kastle Systems, in conjunction with CBRE, has reported that office occupancy levels in the urban core of major US markets have just returned to the 50 percent level. This has left a surplus of available parking spots in several downtown markets. A surplus of parking in urban areas can mute the ability of hotels to raise parking rates as lots and garage owners struggle to gain market share.
- On the other hand, the surplus of parking spaces provides urban hotel owners and operators an opportunity to lease multiple parking spots at nearby lots and garages at relatively low rates. Hotels can then capitalize on their lower cost basis and maximize profits.
- Like guest rooms, hotel parking spaces are not subject to long-term leases. Therefore, hotel parking lots can utilize technology and dynamic pricing techniques to maximize revenue during different market conditions.
- Hotel guests do not typically choose a hotel based on the cost of parking. However, location is frequently cited as an important factor. If guests must drive to stay at the preferred location, then the hotel gains pricing leverage.
Impact on Revenue
Despite these growth figures, parking is still a minor source of revenue for hotels. In 2022, parking revenue for the average hotel in our study sample was 3.1 percent of total revenue. However, parking revenue has grown faster (3.1 percent) than total hotel revenue (2.8 percent) from 2019 to 2022. Parking as a percent of total revenue peaked in 2020 and 2021, highlighting the increased reliability of hoteliers on this alternative source of revenue during the height of the pandemic.
When analyzing the sample by property type, parking revenue made up the greatest share of total revenue at extended-stay hotels (5.3 percent) and all-suite hotels (4.9 percent) during 2022. Urban (3.7 percent) and airports (3.5 percent) hotels enjoyed the greatest contribution from parking revenues when segregated by location category.
Parking Profits
Consistent with the increase in revenue, hotel parking profits have increased from 2019 to 2022. On average, the properties in our sample achieved parking department profits during 2022 that were 8.7 percent greater than 2019 profit levels. Resort hotels, as well as properties in resort and airport locations, achieved the greatest gains in parking department profits.
Unfortunately, parking operations are relatively expensive to run compared to other minor operated departments. The average profit margin for a parking department in 2022 was 60.2%. This is less than the 62.1 percent average profit margin for all minor operated departments. Per the Uniform System of Accounts for the Lodging Industry, the profit margins are calculated before the deduction for overhead expenses such as administration, marketing, maintenance, utilities, property taxes, and insurance.
There are several ways in which hotel owners and operators can maximize revenues and profits from parking. Managing costs, whether parking is being operated in-house or by a third party, is critical in capitalizing on this growing revenue stream.
What Should Hotel Owners be Considering?
Drive Parking Net Income by Evaluating Expenses
Parking expense considerations include evaluating the need for valet versus self-park only operations. Valet services are labor intensive and increasingly costly in today’s labor-constrained market. Technology improvements can be a way of reducing ongoing operating costs with pay-on-foot machines or even gateless app-based technology.
Other market-specific factors impacting the bottom line of hotel parking operations include parking sales tax, if any, in a local market. Urban markets vary from having no parking sales tax to potential taxes at the city, county, and state levels. In addition, the allocation of hotel expenses to parking operations can significantly impact the net income associated with parking. Property taxes, insurance, utilities and other allocations are often out of date and require refinement to optimize parking profitability. Expenses, such as security, cleaning and enhanced lighting, typically improve the perception of a parking facility and can drive long-term parking demands.
In-House vs. Third-Party Operators
Deciding whether to operate parking in-house versus with a third-party operator or parking management company is worth considering in urban parking markets. Third-party operators are often well-connected with other parking demand generators in the area and can tap into their network of parking aggregators to source e-commerce traffic. Third-party operators can also target the surrounding area for parking users who can capitalize on hotel parking spaces during non-peak hotel times.
Since the pandemic, third-party operators are less inclined to enter into long-term lease commitments, preferring management contracts or short-term agreements with less financial risk. Third-party operators can be motivated to perform with incentive-based contracts that offer upside to the operator and enhance the bottom line for parking operations. Operators will typically not assume the risk for property taxes assessed or allocated to the garage.
Own vs. Lease Hotel Parking
Should hotel owners own their parking or simply control it with long-term rights or an access agreement? As alternative investments gain favor in investment portfolios, urban parking is generating increased attention from private and institutional capital as well as infrastructure funds. Urban parking assets can offer investors well-located, covered land plays, attractive yields and the ability to quickly mark prices to market rates in an environment of high inflation.
Parking garages and surface lots supporting hotels are increasingly being bifurcated from the hospitality ownership structure to take advantage of cap rate arbitrage of the parking asset compared to the hotel. Hotel owners don’t necessarily need to own their parking, but at a minimum, they need long-term access or rights to parking. Well-located, urban parking garages with multiple demand generators often trade at aggressive cap rates, particularly in supply-constrained urban markets.
This article was originally published in the June 2023 edition of Lodging and has been shared on HFTP Connect for the benefit of HFTP hotel finance members.
Todd Casper is First Vice President of Parking Investment Sales for CBRE. Robert Mandelbaum is Research Director for CBRE Hotels Research. For guidance on your hotel’s parking operations, Todd can be reached at [email protected]. This article was published in the June 2023 edition of Lodging.
[1] Rooms Revenue per Available Room
Data & Analytics Help In Distributing Hotel Inventory
The Internet had an impact on almost every industry out there and how could the hotel industry be an exception to this revolution. Traditional booking mechanisms like phones and agents have been replaced by OTAs, brand websites, and other channels. Some channels are more profitable or we can say less costly than others are. Hotels have to continuously make sure that they are using the most profitable channel to sell their inventory to maximize revenues. Yielding and Pricing strategy has the prime role to play in determining which channel shall be used to maximize revenues. However, some hotel revenue managers fail to determine which channels have been major contributors to the revenue against the costs incurred on them.
Studies reveal that the cost of distribution has grown manifold as compared to revenues. This scenario can be detrimental to the health of the hotel industry in the long run and calls for hoteliers to adopt measures to control distribution costs. Some channels even charge up to one-third of the room price as commissions.
With so much to leave on the table, it becomes imperative for hotels to continually audit the performance and contribution of different channels to the revenue. Optimum hotel distribution not only affects financial health but also has a considerable impact on marketing strategies and technology required to maintain the sales data.
The hospitality industry becomes fiercely competitive when it comes to urban properties like resorts and penthouses. They are generally booked by high spenders and hence award opportunities for hoteliers to earn handsome returns on such big size bookings. This also calls for hotels to determine the channels that not only fetch the best room rates but also clinch high-spending guests. Evaluating these drill-down parameters can only reveal the right distribution channel that is most profitable in the true sense.
Various distribution channels ranging from call/walk-ins, Global Distribution Systems (GDSs) to diverse online channels like OTAs, metasearch sites, and social media have made the profitable hotel distribution task more complicated and complex than ever before. Successful hotel operation demands all three parties responsible for distribution, marketing and revenue to work together in close coordination to optimize pricing strategy, revenue generation and net profits.
Key Problems in Distribution
Let us discuss the key problems that hoteliers face in distribution and how they can use real-time search monitoring to address these challenges?
Inventory allocations
Figuring how many rooms to be sold through which channel and when
In times of high demand, revenue managers have enough room to experiment with different channels and manage to get away with decent revenues. However, in times of low demand and excess capacity, choosing the wrong or costly channel mix can bleed already lean revenues. Hotels may end up giving high commissions to OTAs even with slashed prices making it difficult to recover operational costs.
Opportunities: Real-time monitoring of search traffic through major distribution channels
Revenue management and distribution management are complementary to each other. They are committed to selling the right room, to the right customer and equally important, at the right time. This helps hotels earn maximum revenue from each channel. Hotels should monitor the performance of their distribution channels in real time so that they have a clear idea of hotel inventory availability enabling them to set the right prices on the right channel.
Real-time data for keeping track of demand
Demand estimation and changing prices in real time
The hotel industry clearly thrives on dynamic pricing. Higher the demand, higher the prices and vice versa. Hotels need to have a clear idea of their demand patterns so that they can change the prices proactively and not leave a single buck of revenue on the table. Moreover, hotels need to be equally vigilant so that their prices are reasonable and do not induce demand resistance among the target audience.
Monitoring real-time search traffic for early warnings of high, low or abnormal demand flows
As discussed earlier, hotels should be aware of market demand under all circumstances. Usually, the rise in demand at various times in the year aligns with the historical demand patterns. However, sometimes, hotel demand rises uncertainly due to an upcoming big conference or any event in the city. Hotels should monitor search data to keep a tap on any impending rise in demand. This provides hoteliers to proactively change their pricing to earn the maximum revenues out of every opportunity.
Negotiation strategies with OTAs
Identify OTAs that fetch the best guests, for the least commissions
Until now, OTAs contribute a maximum number of bookings for any hotel. There are “n” number of OTAs in the market for hotels to choose from. Selecting the right OTAs for hotel distribution can do wonders. An OTA that can get maximum bookings for least commission are the ones to be chosen. Evaluating search traffic can bring out surface stats as to which OTAs attract the maximum number of visitors. This can help hotels to shortlist OTAs to choose from.
These reasonable stats can help hotels negotiate the much painful commissions and establish grounds for demands by the OTAs. Not all OTAs work out well for any hotel and any hotel cannot rely on one OTA for all the bookings. Hotels need to tie up with different OTAs to assess which perform better and discard the ones that are less profitable.
Customer segmentation
Identifying guest categories
Guest is no less than Gods to hotels. They are the king and shall be dealt with appropriately. However, like fingers, not all guests are the same. They can be categorized according to different parameters, such as age, booking motives, such as leisure or business
The hotel’s success depends much on their ability to deliver 1-to-1 personalized offers and services to each guest. However, there are many things the Revenue Manager can do to better understand the guests searching for a room, the context of the travel and the distribution channels being used. Insights about the purpose of the travel, such as leisure or business, families, singles or groups can be derived to offer more targeted offers.
Use real-time search context to identify customer segments and improve offers
With changing business models, up front it is not easy to figure out which bookings are business bookings and which ones are purely leisure, in fact, these days it is a mix of both (Bleisure). However, considering mid-week bookings as business and weekend bookings as leisure bookings can help in some way. This lets hoteliers come up with suitable packages at the right time for the right customer group, which fits in their budget thus increasing the number of bookings.
Hotel distribution is an intricate and painful staking process exposed to a myriad of market forces. We can decode some of the governing forces and develop strategies around them to utilize them for our benefit.
By the discussion above, our readers can clearly establish how search-based analytics can help hotels optimize the hotel inventory distribution game.
Total Revenue Management and the Mi$$ed Opportunities
Written by: Katerina Papadima
Total revenue management is not a new concept, but it is one that hoteliers will embrace more for the years to come. To implement it, though, we first need to define it. What is total revenue management?
Extending Revenue Strategy Across All Departments and Guest Journeys
Revenue managers have been focused on maximizing room revenue, and for a good reason: it is the highest contributing revenue stream. In the post-pandemic era, as travel levels surged and properties were running below full capacity given the staff shortages, we saw hoteliers pushing rates. As the effect of revenge travel wears out, business travel is yet to recover and inflation is rising, revenue leaders need to seek new ways to maximize revenue other than just pushing room rates.
Revenue managers should seek customer data to yield insights into the organization’s most valuable customers in terms of profitability and lifetime value (CLV) with an end goal of developing a profitable customer base for many years to come. Hoteliers tend to be myopic, focusing on room bookings and measuring the short-term transactional value of a guest. Wrong! A traveler’s relative worth to the hotel goes beyond the price they are willing to pay for a room night stay and includes ancillary purchases on property, long-term loyalty relationships, and in today’s digital world, their ability to influence other potential guests through social media platforms and guest ratings.
Hotels should provide options for guests to customize their stay throughout the guest journey. What do guests want? When? The time to sell is important for conversion. Hotels that are relevant win. Every touch point in the guest journey provides an opportunity to provide something relevant, gather important insights for guests, and improve revenue strategies.
Take the first stage, for example: Inspiration/Research/Shopping. Data regarding property-related search frequencies by region or time of year can help revenue leaders answer the questions of “who” and “when” to target, respectively. Having access to related queries can also help hoteliers understand what guests are looking for in relation to the subject property. Are they searching for other competitor hotels? If so, who are those, and do they match the ones already in the compset? Are guests searching for the hotel’s amenities or F&B establishments? Hotels should update their online descriptions and seasonal offerings to align with the keywords guests search for. SEO is instrumental to driving bookings, and accordingly revenue, to the hotel.
Let’s look at another stage: Review/Post Stay. In today’s digital ecosystem, travelers are becoming more accustomed to reading reviews or relying on recommendations from KOLs on where to stay. Since customers’ choices are impacted by social media sentiment, the latter should be incorporated into the demand forecasting models used for pricing decisions. Moreover, a good social media presence can give hotels the opportunity to request premium rates. Social media and guest ratings could also help hotels do a better job defining their comp-set based on how they are positioned on a reputation level.
These are some examples of how and why hoteliers need to evolve away from siloed business models and extend their revenue strategy beyond the booking stage and encompass the whole guest journey.
New Key Performance Indicators
As hoteliers adopt a more holistic approach to driving bottom-line revenue for the whole asset, momentum should be given towards driving new, more applicable performance indicators. The traditional RevPAR-focused approach will become obsolete, and revenue leaders should look toward driving TRevPAR, ProfPAR, and RevPAG (Revenue Per Available Guest) instead. Most notably, RevPAG measures a hotel’s revenue performance in conjunction with guests’ total spending. As revenue management is transitioning away from the traditional inventory-centric approach to a more customer-centric orientation, it’s not just about filling up rooms anymore. Shifting the attention towards RevPAG will ensure hoteliers change their focus away from selling rooms to targeting the right guests and maximizing spending per guest.
A Single Interconnected System
Unfortunately, many hotels do not have their tech stack aligned in a manner allowing them to reach their total revenue potential. As some put it, we have an “infrastructure problem.” The core challenge facing Revenue managers today is fragmented data across countless disconnected systems including PMS, CRS, RMS, DCs, F&B reservations systems, spa software, reputational management systems (ie, Revinate, ReviewPro, TrustYou, etc.), group management systems ( ie, CVENT, Event Planner, etc.) — the list is endless. Taking complete control of revenue management strategies across all commercial functions and the whole guest journey requires a single interconnected system with a holistic view across a hotel’s entire ecosystem. Whoever is next to design such a system will change the industry.
This blog post was awarded First Place in the Spring 2023 HFTP/MS Global Hospitality Business Graduate Student Blog Competition presented by the HFTP Foundation. Participants are students participating in the Master of Science in Global Hospitality Business, a partnership between the Conrad N. Hilton College of Global Hospitality Leadership at the University of Houston, the School of Hotel and Tourism Management at Hong Kong Polytechnic University and EHL. The blog posts that received the top scores will be published on HFTP Connect through July 2023. Learn more at HFTP News.
Katerina Papadima joined the Master of Science in Global Hospitality Business program with more than three years of experience in revenue management. She holds a Bachelor’s degree from the Cornell University School of Hotel Administration; during her time there, she held multiple hotel revenue management internships, including Preferred Hotels & Resorts, First Hospitality Group and Starwood Hotels. She has also worked as a revenue management analyst/revenue manager with Choice Hotels in Washington, DC and was part of the Marriott APEC Revenue Management team based in Singapore.
Bryant, J., & Rubinacci, A. (2023, March 22). Automation and AI in Hospitality – where are we, and what’s next? A conversation between a hotelier and an entrepreneur. Hospitality Net. https://www.hospitalitynet.org/news/4115533.html
Crowley, C. (2023, February 23). Six Revenue Management Trends to Watch | By Chris Crowley. Hospitality Net. https://www.hospitalitynet.org/opinion/4115109.html
Duetto. (2023). Targeting Greater Profitability in 2023 Special Report Trends & Predictions to Boost Your Revenue. https://www.duettocloud.com/hubfs/2023/Special%20Reports/Targeting%20Greater%20Profitability%20in%202023.pdf?_hsmi=250511826&_hsenc=p2ANqtz-9uywj0RzRiroGHeyO4eO3nBT9NnTOlGWaxix5FaMJGz82l0 G0NpP4wwRtjGBDAoh8TokfZs-FaLeFm0GjKA9l5ef8hl_CbUuSQxLRit4XuxfoFy6s
Duncan, K. (2023). Who owns your rates Rethinking the hotel tech stack for optimal revenue optimization — By Kevin Duncan. Hotel Yearbook. https://www.hotelyearbook.com/article/122000234.html
Stanziale, R. (2023). Rethinking Revenue Management for 2025 and beyond — By Russ Stanziale. Hotel Yearbook. https://www.hotelyearbook.com/article/122000215.html
Stephens, K. (2023). 3 Changes That Are Shaping The Future Of Digital And Revenue Management — By Karen Stephens. Hotel Yearbook. https://www.hotelyearbook.com/article/122000195.html
Discounts and deals include free food, drinks and other discounts
With the end of the school year approaching, teachers are being recognized with specials at retailers and restaurants across the US for Teacher Appreciation Week.
Former first lady Eleanor Roosevelt began the effort to create Teacher Appreciation Week and National Teachers Day when she urged Congress in 1953 of the need for a day recognizing teachers, according to School Specialty. National Teacher Day was initially celebrated on March 7, but in 1984 it was moved to May. At that time the National Parent Teacher Association began calling the entire first week of May as Teacher Appreciation Week.
“Teachers play a critical role in driving the success of our children’s education and lives,” The National Parent Teacher Association says. “They are the ones who inspire and guide our kids to become future leaders, innovators and problem solvers.” The organization has ideas on how to thank a teacher on its website.
When is Teacher Appreciation Week?
There’s some disagreement about when Teacher Appreciation Week occurred, with the National Education Association and National Parent Teacher Association observing it May 8-May 12, while some states and school districts started celebrating it this week.
During the actual week of recognition, there’s usually a National Teachers Day, which some celebrate May 2. But the National Day Calendar and Calendarpedia, places the day of observation as May 9, the first Tuesday of the first full week in May.
When can teachers get deals for Teacher Appreciation Week?
Teachers, whenever you want to celebrate, there’s plenty of deals. There’s also deals for National Nurses Week, May 6-12. And don’t forget Cinco de Mayo, which also means plenty of food and drink deals.
Teacher Appreciation Week 2023: 20 of the best gift cards to give teachers
recalls: Family Dollar initiating recall of Advil shipped to certain stores
Mooyah Burgers, Fries & Shakes National Teacher and National Nurses Week deals
Through May 6, teachers and nurses get a free Little Moo shake at Mooyah Burgers with any purchase (show your teacher or nurse ID when ordering).
Office Depot and OfficeMax teacher appreciation deals
Now through July 1, Teachers with a free Office Depot and OfficeMax Rewards membership can get 30% back in bonus rewards on qualifying in-store purchases. Just present the appropriate coupon available online at officedepot.com/rewardsoffers, a valid teacher ID, and your Office Depot OfficeMax Rewards Member number at checkout.
Staples Teacher Appreciation Week deals 2023
Teachers get $30 back in Staples Rewards when they spend $100 or more in stores from May 7 to May 13. Teachers can also get $15 off signs, banners, and posters when they spend $75 or more, and $10 off document printing when spending $40 or more (both deals expire May 27).
Want to help your local school and teachers? Join the Staples Classroom Rewards Program to earn 5% back on in-store purchases to give to a local teacher or school, as well as 5% back in Staples Rewards.
Crocs, Michaels, Xfinity, Sleep Number deals for teachers with SheerID
Third-party verification service SheerID, which collects information that assists in verifying eligibility, has a slew of exclusive teacher deals with partners including ASICs, Crocs, Dockers, LL Bean, Michaels, Peloton, Vineyard Vines and Sleep Number. Find teacher deals at Sheerid.com/shoppers/teacherdeals.
Teacher deals from Samsung, Verizon, DirecTV with ID.me
Another verification service, ID.me, has partnered with brands including Adidas, DirecTV, Hotels.com, Ray-Ban, Samsung, Sam’s Club, Saucony, Under Armor and Verizon Wireless to confirm eligibility for teacher discounts. See the list of businesses at Shop.id.me/teacher.
“The Teachers” book available at a bargain price
You can get the critically acclaimed new book The Teachers: A Year Inside America’s Most Vulnerable, Important Profession, a USA Today “Hottest New Book Release” and New York Times Spring Nonfiction pick, will be available for just $1.99 as an ebook (down from the $15.99 retail price) from May 8 to May 13.
Firehouse Subs’ free sandwich deal for teachers
Firehouse Subs will give teachers nationwide any free medium sub with the purchase of any medium or large sub, chips, and drink, May 8-May 12. Any medium sub is eligible, including the limited-time Smokin’ Triple Stack sub.
McAlister’s Deli
Teachers and nurses can get a free 32-ounce tea through May 10 by showing valid educator or medical ID at participating at McAlister’s Deli locations. No purchase necessary, but limit one per person; not valid on flavored shots or other beverages. Must order in person for dine in and take out orders only.
Perkins Restaurant & Bakery’s Teacher Appreciation Week deal
Perkins Restaurant & Bakery is giving teachers 20% off meals May 8 to May 12 when they present a valid teacher ID and are members of the restaurant’s E-Club rewards program (join prior to May 8; the offer can be used multiple times during the weeks).
Potbelly Sandwich deals for National Teacher Appreciation Week and National Nurses Week
Potbelly will give teachers and nurses a free cookie or regular-sized soft drink when they purchase an entrée May 6 through May 12. Just show your work ID or badge when ordering any entrée (sandwich, salad, soup, or pick your pair; in -shop orders only).
Sonic Teacher Appreciation Week free cheeseburger deal, DonorsChoose donation match
Sonic is giving all those enrolled in its Teachers’ Circle Rewards program a free cheeseburger with any purchase from May 9 to May 16 made online or in the Sonic App. Any teacher, faculty or staff at a K-12 school or degree-granting university can use the app to sign up for Teachers’ Circle and get exclusive rewards; get verified before May 9 for the free cheeseburger deal.
Also on May 9, the Sonic Foundation will match 50% of public donations – up to $1.5 million – to education non-profit group DonorsChoose. (A portion of proceeds for every drink, slush and shake sold goes to the Sonic Foundation, which has donated more than $24 million to funding US classrooms since 2009.)
Those who want to donate can text GIVE to 31869 and receive a direct link to a teacher’s classroom in their local community. Emmy Award-winning actress Sheryl Lee Ralph (Abbott Elementary) is a celebrity spokesperson for the campaign. “Public school teachers have dedicated their lives to inspiring America’s youth, and we must ensure they have all the tools they need as they shape the hearts and minds of our children,” he said in a statement.
McDonald’s teacher appreciation 2022 deals
McDonald’s doesn’t have a national Teacher Appreciation Week deal, but some locations have regional or local deals over the week. Check with your McDonald’s to see if there is a local offer for teachers. And also check the app for other deals including free fries.
Whataburger Teacher Appreciation Week breakfast deal
Educators can get free breakfast entrées from May 8 to May 12. During the week from 5 am to 9 am, teachers get a free breakfast entrée plus a Taquito with cheese, Breakfast on a Bun or Honey Butter Chicken Biscuit. They also get a 25% discount on all items in the Whatastore with the code WHATATEACHER23.
More than 55 teachers who were nominated by their peers and community members, will be awarded a $1,000 grant for their schools, totaling more than $70,000 to support teachers communities within Whataburger’s 14-state footprint.
Buffalo Wild Wings $1 boneless wings deal
Whether you are a teacher or not, any customer who orders a burger at Buffalo Wild Wings can get six boneless wings for just $1 more, through May 30.
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This article originally appeared on USA TODAY: Teacher Appreciation Week 2023: Food deals, discounts for educators
Inside Look from the Global Finance Committee
The brain trust of hotel industry experts who are tasked with future planning and development for theUniform System of Accounts for the Lodging Industry(USALI®) is back in full, collaborative force to produce the new USALI 12th Revised Edition. This group, the Global Finance Committee (GFC) sponsored by HFTP and AHLA, recently met in Washington, DC to discuss major financial and operating revisions and enhancements that will be made to the new edition.
In this blog post, Robert Mandelbaum, GFC member and director of research information services at CBRE Hotels Research, summarizes the many notable changes to date:
- The Utilities Schedule (11th edition) will become the newEnergy, Water, and Waste (EWW) Schedule. The subject of a recentHOTEL YEARBOOK articles by HFTP CEO Frank Wolfe, this new Schedule will address increasing expectations from guests, investors and companies for reliable ESG reporting standards, metrics and statistics (read the article to learn more).
- theEWW Schedule will include new required expense categories to capture energy, water, sewer expenditures, waste and contract services. It will also incorporate a recommended schedule for obtaining environmental and greenhouse gas emissions and statistics.
- The definitions for each of the rate categories used for the Rooms Revenue segment have been expanded; and an optionalChannel Mix schedule has been added.
- Enhanced guidance will help users determine if a retail operation selling food and beverages should be considered asFood & Beverage (F&B)revenue or asOther Operated Departmentrevenue.
- New guidance will enhance the tracking of costs associated with services and amenities offered to participants of aGuest Loyalty Program.
- Guidance will be added to theMiscellaneous Income, Non-operating Income, and Expenses,andBalancesheetsections to reflect the latest lease accounting rules and regulations changes.
- Additional expense categories in theSales and MarketingDepartmentwill reflect the many new digital methods used to promote hotels.
Ahead of the new edition, HFTP is introducing a brand-new digital format for the USALI, published via the cloud-based publishing platform Kitaboo. The new digital version of the current 11ththe USALI edition is expected to be available in Spring 2023, and the new 12thedition will be added to the platform once it is released. .
For questions, contact HFTP at [email protected] or +1 (512) 220-4020. Follow news and information on the USALI 12thRevised Edition, on the HFTP website.
HotelKey Partners With Rate Gain To Provide Competitive Pricing And Distribution For HotelKey Customers Worldwide
Dallas, February 23, 2023: HotelKey, the leading cloud-based property management platform for hotels, announced a partnership with RateGain Travel Technologies Limited (RateGain), a global provider of SaaS solutions for travel and hospitality, to integrate RateGain’s global distribution, central reservations, and pricing capabilities into HotelKey’s platform PMS. The integration will roll out across HotelKey’s portfolio of more than 4,000 properties, with hundreds of properties already accessing the combined capabilities.
“We are excited to bring RateGain’s next-gen pricing and distribution capabilities to our partner hotels,” said HotelKey Co-Founder and President, Aditya Thyagarajan. “RateGain is an unparalleled innovator, and bringing their revenue-generating capabilities to HotelKey’s intuitive property management system is a huge plus for hotel owners and operators. We look forward to accelerating our partnership in the months ahead.”
Through the collaboration, hotels on the HotelKey platform will see RateGain’s pricing and distribution tools on the HotelKey platform. This will enable hoteliers to save time and achieve efficiencies, making better distribution decisions faster and, ultimately, saving money as well as building revenue.
“RateGain’s mission is to generate more revenue every day for hotels, and we are now delighted to include hotels on the HotelKey platform among our partners,” said Chinmai Sharma, President of the Americas at RateGain. “The HotelKey-RateGain partnership moves in the direction of providing a one-stop-shop for hoteliers looking for better ways to run their properties, train their employees, and maximize pricing, distribution, and revenue. We are excited to continue building out our collaboration with HotelKey.”
Along with other benefits, HotelKey and RateGain’s mobile-first API integration provides hoteliers with a seamless transition to the new offering, with each property gaining access to real-time inventory management and efficient oversight of third-party distribution and price parity across channels.
RateGain’s platform is designed to help hoteliers grow revenues by improving pricing, generating more bookings, and optimizing conversions across distribution channels. RateGain works with 23 of the industry’s top 30 hotel chains, and powers more than 191,000 hotels to unlock more revenue, acquire more customers, and provide outstanding on-property experiences.
About HotelKey
HotelKey was founded in 2015 and today counts large enterprise chains among its clients, including G6 Hospitality, Extended Stay America, and Red Roof Inn. HotelKey’s client portfolio includes roughly 400,000 live rooms and over 4,000 live properties, including 500 independent hotels around the world. In addition to its industry-leading PMS solution, HotelKey also offers an enterprise-grade central reservations system and point-of-sale system, RetailKey, along with a host of other products and services specifically designed for the hospitality industry. For more information visit hotelkeyapp.com, and connect with HotelKey on LinkedIn, Instagram, Facebook, and Twitter.
About RateGain
RateGain Travel Technologies Limited is a global provider of SaaS solutions for travel and hospitality that works with 2800+ customers and 700+ partners in 100+ countries helping them accelerate revenue generation through acquisition, retention, and wallet share expansion.
RateGain today is one of the world’s largest processors of electronic transactions, price points, and travel intent data helping revenue management, distribution and marketing teams across hotels, airlines, meta-search companies, package providers, car rentals, travel management companies, cruises and ferries drive better outcomes for their business. Founded in 2004 and headquartered in India, today RateGain works with Top 23 of 30 Hotel Chains, Top 25 of 30 Online Travel Agents, and all the top car rentals including 8 Global Fortune 500 companies in unlocking new revenue every day. For more information, please visit https://www.rategain.com.
Forward-Looking Statements
Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential, and target dates for project-related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results, changed assumptions or other factors.
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Ankit Chaturvedi
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Global Head-Marketing