• GCC hospitality boom: UAE market to top US$7 billion by 2026
• Accor leads hospitality growth across Saudi Arabia 
• Xenia Hotels & Resorts: Q1 2024 nets $8.5M, steady growth 
• Minor Hotels to launch 50 properties in India 
• Home2 Suites by Hilton partners with Grubhub for onsite food delivery

Reach out to us for discussions regarding connectivity, direct booking, rate intelligence, and website design requirements – we are happy to explore new possibilities with you for your property – contact us today. 

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GCC hospitality boom; UAE market to top US$7B by 2026

Recent data from global research companies indicates a bright future for the GCC hospitality industry, with insights from Deloitte and STR demonstrating sustained growth as tourism continues to be a key priority for regional governments. The upcoming edition of Arabian Travel Market (ATM), a premier global event in travel and tourism, will serve as a pivotal gathering for hospitality stakeholders when it takes place from 6 to 9 May at the Dubai World Trade Centre. RateTiger is taking Dubai by storm from May 6th to 9th! Find us in Hall 4, Booth TT4102. 

Accor drives hospitality expansion in Saudi Arabia 

As the largest hotel operator in Saudi Arabia, Accor is spearheading a strategic transformation of the country’s tourism sector, marking a new era of hospitality in the Kingdom. 

Accor currently operates 13 brands in Saudi Arabia, spanning across the premium, midscale, and economy segments, as well as luxury brands and Ennismore’s lifestyle collective. With leading brands including ibis, Novotel, Adagio, Mercure, Mövenpick, Swissotel, Pullman, Raffles, Fairmont, Sofitel, Banyan Tree and others, the group has solidified its position as a leading hospitality provider, offering a wide range of services and experiences. 

Xenia Hotels: Q1 2024 nets $8.5M, steady growth 

Regarding Liquidity and Balance Sheet as of March 31, 2024, the Company held total outstanding debt of approximately $1.4 billion with a weighted-average interest rate of 5.47%. It possessed around $140 million in cash and cash equivalents, including hotel working capital, and full availability on its revolving line of credit, resulting in total liquidity of about $590 million. Furthermore, as of the conclusion of the first quarter, the Company possessed about $57 million in restricted cash and escrows. 

Minor Hotels plans 50 new properties in India 

Minor Hotels, a global hotel owner and operator with more than 540 properties in 56 countries, is set to intensify its presence in the dynamic Indian hospitality market, targeting 50 new openings within the next decade. 

The group will focus its strategy on the upper-upscale and luxury hotel segments, where it expects strong interest from owners in its well-established Anantara, Avani, and NH Collection brands. 

Home2 Suites by Hilton offers seamless Grubhub food delivery

More than 30 percent of travelers struggle with not knowing where to order food and 25 percent worry about not having access to a car to get around, according to a Grubhub survey. Further, nearly 50 percent of travelers said they’d use a delivery app to order forgotten items. With this integration, travelers don’t have to worry about food, transportation or these forgotten items since Grubhub and Home2 Suites make it easy to order from local restaurants and find nearby convenience stores for delivery right to their Home2 Suites hotel. 

That’s all folks! 

The post What’s New in Hotel Online Distribution and Tech Trends? W1, May 2024 first appeared on eRevMax.

• Future Hospitality Summit Saudi Arabia: Exciting agenda & stellar speakers 
• Fostering better hotel-planner partnerships with seven key strategies 
• UK tops early 2025 holiday bookings, Sabre data shows 
• Marriott International signs agreement with NEOM 
• Hilton surpasses 800 hotels in Asia Pacific, sees Q1 2024 growth 

Reach out to us for discussions regarding connectivity, direct booking, rate intelligence, and website design requirements – we are happy to explore new possibilities with you for your property – contact us today. 

Enjoy the read! 

Exciting agenda & stellar speakers at Future Hospitality Summit Saudi Arabia! 

Future Hospitality Summit (FHS) Saudi Arabia has unveiled a stellar lineup of speakers and an action-packed agenda with over 1,200 hotel investment decision-makers expected to attend at the Mandarin Oriental Al Faisaliah, Riyadh, from 29 April to 1 May 2024. The first morning (29 April) is dedicated to the Global Restaurant Investment Forum (GRIF). GRIF will tap into Riyadh’s growing dining-out scene with main-stage presentations, case studies and panel discussions, F&B workshops, culinary & concept tours, and a dedicated networking dinner. 

Fostering better hotel-planner partnerships with seven key strategies 

The meetings and events business continues to draw visitors worldwide to the most desired destinations. The path back seems smoother than ever for hoteliers getting their groove back. Indeed, the meetings industry continues to be an essential revenue driver for increasing profitability for hotels of almost any size. For meeting planners, however, the story may be a little different. 

Early 2025 holiday bookings: UK takes the lead; Sabre data indicates 

Sabre has revealed its booking insights, showing that UK travellers are leading the global trend by planning their 2025 trips earlier than travellers from other countries. This shift reflects a major change in travel habits worldwide, where early bookings have become the preferred way to secure desired travel experiences and control costs. Sabre’s data found that British tourists are the most decisive in their travel arrangements, especially for long-haul destinations that combine “sun and culture”. 

Marriott International signs agreement with NEOM 

Marriott International, Inc. announced it has signed an agreement with NEOM to open its second Ritz-Carlton Reserve in Saudi Arabia. Anticipated to open in Trojena, a year-round mountain destination located in the country’s northwest region, the property will offer a complete escape into a private world of luxury.  

Hilton surpasses 800 hotels in Asia Pacific, sees Q1 2024 growth 

In the first quarter of 2024, Hilton’s RevPAR grew 7.9% in Asia Pacific versus 2019 levels on top of a strong 2023. The rise is backed by steady growth in leisure and business travel, the continued increase of the pan-Asian traveller, and ongoing strength in international arrivals. China’s outbound travel showed further signs of recovery, with Southeast Asia and Japan benefiting from inflows, while Hilton’s hotels in Singapore and Australia gained from major international music acts.  

That’s all folks!

The post What’s New in Hotel Online Distribution and Tech Trends? W4, April 2024 first appeared on eRevMax.