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Yahoo
9 hours ago
- Business
- Yahoo
How hiring individuals with intellectual disabilities mutually benefits hotels, employees
This story was originally published on Hotel Dive. To receive daily news and insights, subscribe to our free daily Hotel Dive newsletter. Dive Brief: Hospitality employers and individuals with intellectual and developmental disabilities can mutually benefit when hotels employ these workers, according to new research from Penn State University's School of Hospitality Management. According to the research, individuals with intellectual and developmental disabilities can fill much-needed jobs in hospitality, but hotel employers must offer them adequate support to succeed in their roles. The benefits of hiring individuals with intellectual disabilities go beyond addressing the labor shortage, the researchers found, citing greater workplace diversity, improved loyalty and reduced turnover. Dive Insight: In the report 'Exploring Untapped Workforce Potential of Employees With Intellectual and Developmental Disabilities in the Hotel Industry: Where To Start,' Penn State researchers Yoko Negoro, Sydney Pons, Thomas Little, Michael Tews, Donna Quadri-Felitti and Phillip Jolly noted that hiring individuals with intellectual disabilities 'offers a solution' to high industry turnover and labor shortages. But for hotels and employees to mutually benefit, employers should consider offering job coaches who provide on-the-job training and support and facilitate communication between staff and supervisors, the researchers found. 'Hiring someone with an intellectual disability is a great first step but supporting them well when they are on the team is just as important,' Jolly said in a statement. 'That can mean adjusting communication approaches, setting up tasks in a clear and consistent way or making sure there is a support system in place. When organizations put thought into these things, it is not just the employee with a disability who benefits — the whole team gets stronger.' Job design is key when hiring individuals with intellectual disabilities and should allow for 'autonomy, meaningful work, and social support from coworkers and supervisors,' according to a release announcing the report. To ensure success, hotel managers should also take advantage of government incentives, facilitate socialization opportunities for employees, tailor their training programs and incorporate inclusion into their recruitment messaging, according to the report. Though the hotel industry labor gap has narrowed since the pandemic, when the industry was down roughly 600,000 jobs, hotels are still short approximately 200,000 workers, American Hotel & Lodging Association President and CEO Rosanna Maietta said at last month's NYU International Hospitality Investment Forum. Increased deportations are also impacting hotel labor, according to hospitality industry experts. Recommended Reading Hospitality union Unite Here names Gwen Mills first woman president Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
12-06-2025
- Business
- Yahoo
The 47th Annual NYU International Hospitality Investment Forum Explored the Future of the Global Hospitality Industry and Empowered Hospitality and Financial Executives with the Strategies for Success
NYU IHIF 2026 Takes Place May 31-June 2 at the Marriott Marquis in New York NEW YORK, June 12, 2025 (GLOBE NEWSWIRE) -- Last week at the 47th annual NYU International Hospitality Investment Forum (NYU IHIF), operated by Questex, a leading information services and event company, in partnership with the NYU School of Professional Studies (NYU SPS) and its Jonathan M. Tisch Center of Hospitality, top industry executives, from CEOs of hotel brands to various investment and real estate executives, discussed the latest trends, economic influences and projections. The NYU IHIF hosted more than 2,200 attendees, 20% of which were equity investors, representing more than $132B in hotel assets under management. Twenty-five percent of investor attendees attended the conference for the first time, demonstrating the increasing appeal of hospitality as an investment class. The NYU IHIF has been the touchstone for hotel investment and development in the Americas for over 40 years. Yearly, the conference agenda delivers unparalleled thought leadership through keynotes, general sessions, workshops, and networking events. Over 170 top industry executives delivered unparalleled thought leadership through panels, fireside chats, case study presentations and roundtable discussions. This year's event theme 'Engagement Drives Returns,' underscored the NYU IHIF as the unique platform for the hospitality investment ecosystem with curated tracks and deep content for three days of networking, insights and deal-making. The opening keynote address was delivered by Matthew Luzzetti, Chief US Economist at Deutsche Bank with a look at the macro-economic forces driving success in the hospitality real estate market. Jeff T. Blau, CEO of Related Companies delivered a keynote where he shared his insights on innovative approaches, stakeholder engagement strategies, and value-creation principles guiding complex real estate developments, with a focus on Hudson Yards as a landmark regeneration project. The Global hospitality CEO panel: The view from the boardroom on global collaboration and growth brought together the leaders of the world's major hospitality companies to share their insights on the shifts in the hospitality, travel, and real estate markets. Geoff Ballotti, President & CEO, Wyndham Hotels and Resorts; Sébastien Bazin, Chairman and CEO, Accor; Anthony Capuano, President and Chief Executive Officer, Marriott International; Mark Hoplamazian, President and Chief Executive Officer, Hyatt Hotels; Elie Maalouf, Global Chief Executive Officer, IHG® Hotels & Resorts; and Christopher J. Nassetta, President and Chief Executive Officer, Hilton shared strategies and insights on engaging with markets to sustain success as well as how innovative partnerships and M&A deliver new opportunities for global collaboration and growth in changing markets. The session was moderated by Sara Eisen, Anchor, CNBC. Barry Sternlicht, Chairman & CEO, Starwood Capital Group received the Jonathan Tisch Active Citizenship Award. The award celebrates the positive impact and achievements of a leader in the hospitality industry. Sternlicht also participated in a Fireside Chat with Tisch, covering the state of the industry and his philanthropy. Additionally, Anthony Capuano, President & CEO, Marriott International received the Silver Plate Award for Excellence in Hospitality and JW Marriott Phoenix Desert Ridge Resort & Spa and Trinity Investments received the HAMA U.S. Asset Management Achievement Award. Other prominent leaders who presented at NYU IHIF included: Rosanna Maietta, President & CEO, AHLA Laura Lee Blake, President & CEO, AAHOA Ryan Bosch, Principal, Arriba Capital Deric Eubanks, Chief Financial Officer, Ashford Inc. Andrea Grigg, Global Head of Hotel Asset Management, CBRE Hotels Ramsey Mankarious, Chief Executive, Cedar Capital Partners Benedetta Cassinelli, Co-Founder & CEO, Considerate Group Sourav Ghosh, EVP/CFO, Host Hotels & Resorts Deanne Brand, SVP, Strategy, Analytics, Risk & Treasurer, Host Hotels & Resorts Tiffany Cooper, Head of Development, Americas, Mandarin Oriental Mit Shah, Chief Executive Officer, Noble Investment Group Benjamin Brunt, Managing Principal & Chief Investment Officer, Noble Investment Group Afshin Kateb, CFO | Head of Hospitality, Palladius Capital Management Tim Abram, Managing Director, Starwood Capital Group NYU IHIF attendees had the opportunity to meet with 70+ leading companies such as Accor, Hilton, Marriott International, Ministry of Tourism Saudi Arabia, Asser Development Authority, Aimbridge, Ashford, BWH Hotels, IHG Hotels & Resorts, Jefferies and Turismo de Portugal introducing the latest ventures, investments and innovations redefining guest experiences, operational efficiency and deal structures. Select announcements made at NYU IHIF, include: Hotel CEOs on the 'human need' for travel in the face of uncertainty – June 3, 2025 Marriott opens inaugural StudioRes amid focused midscale growth – June 3, 2025 Hotel execs cautiously optimistic for rest of 2025 after frustrating start to year – June 3, 2025 There's a U.S. Travel Deficit, Too – Hotel CEOs Call for a Fix – June 3, 2025 CoStar, Tourism Economics Downgrade U.S. Hotel Forecast Through 2026 – June 3, 2025 Analysts, economist outline factors behind more conservative US hotel outlooks – June 5, 2025 Starwood Hotels development chief talks brand revival, growth opportunities – June 5, 2025 'NYU IHIF is where the global hospitality industry sets its agenda. The caliber of attendees and insights make it an unmissable event for anyone driving growth, innovation or capital in hospitality investment,' said Alexi Khajavi, Group President Hospitality and Wellness, Questex. 'In addition to our robust conference agenda, this year we expanded networking events and dedicated 50% of the event for one-on-one networking and collaboration. The strategic roundtables, interactive sessions, Capital Meets, an investor lounge, content-led networking sessions and unique networking events connected the capital in the room with the key partners who can generate the returns.' 'For over 45 years NYU IHIF has consistently brought together top-tier leaders, investors and decision-makers from across the global hospitality sector. With high-value networking, exclusive market insights and thought leadership, each year the event shapes the future of the industry,' added Nicolas Graf, Jonathan M. Tisch Chaired Professor and Associate Dean of the NYU SPS Jonathan M. Tisch Center of Hospitality. A share of proceeds from the event will help fund student scholarships at the NYU SPS Jonathan M. Tisch Center of Hospitality and further support the program's mission of educating and preparing future leaders and innovators for careers in global hospitality management, travel, and tourism. NYU IHIF 2026 takes place May 31-June 2, 2026 at the Marriott Marquis in New York. For sponsorship opportunities, contact Andrew Walmsley awalmsley@ Stay connected with the NYU IHIF on LinkedIn, Instagram and X. About QuestexQuestex helps people live better and longer. Questex brings people together in the markets that help people live better: hospitality and wellness; the industries that help people live longer: life science and healthcare; and the technologies that enable and fuel these new experiences. We live in the experience economy – connecting our ecosystem through live events, surrounded by data insights and digital communities. We deliver experience and real results. It happens here. About the NYU SPS Jonathan M. Tisch Center of HospitalityThe NYU SPS Jonathan M. Tisch Center of Hospitality, now celebrating nearly 30 years of academic excellence, is a leading center for the study of hospitality, travel, and tourism. Founded in 1995, the Tisch Center was established in response to the growing need for hospitality and tourism undergraduate and graduate education. Its cutting-edge curricula attract bright, motivated students who seek to become leaders in their fields. The Tisch Center recently launched the Hospitality Innovation Hub (HI Hub), which will foster entrepreneurship and creative solutions for the industries it serves. For more information, visit Media ContactsKirsty McKennaNYU IHIFkmckenna@ Meryl FranzmanNYU IHIFmfranzman@ in to access your portfolio
USA Today
05-06-2025
- Business
- USA Today
'Wait-and-see': Many Americans are putting off booking summer vacations. Here's why.
'Wait-and-see': Many Americans are putting off booking summer vacations. Here's why. Show Caption Hide Caption Top three travel trends for summer 2025 Airbnb shares data behind the top summer destinations and motivators for 2025. NEW YORK - This year's hottest summer travel trend? Waiting for deals. Americans are scaling back travel plans from flights to drives or waiting to book only if the price is right, a tell-tale sign of an industry slowdown that's got travel companies worried. Hotel summer bookings are either flat or falling from last year, and airline bookings are down even though airfares have also declined, as economic concerns fuel a pullback in spending. Travel companies including Delta Air Lines, Marriott International, and online travel agency Booking Holdings have withdrawn or revised their 2025 annual forecasts as U.S. demand softens. Airbnb flagged shrinking booking windows as consumers take a "wait-and-see" approach and book trips closer to their check-in dates. That has left companies with less visibility into the second half of the year. Delta said in early April it was premature to project the full year given macroeconomic uncertainty. United Airlines said there's a reasonable chance that bookings could weaken. Europe travel deals: United Airlines says now's the time to book cheap flights from Newark Wait and see "It's very clear that consumers are waiting to make decisions, including for the summer," Southwest Airlines CEO Robert Jordan said at the Bernstein Annual Strategic Decisions Conference in late May, adding that demand was stable but lower than expected in January. U.S. summer flight bookings are down 10% year-over-year, according to Flighthub, an online travel agency, even though airfares have dropped. "You can't keep an airline seat on the shelf in a warehouse. If you don't fill that seat tomorrow and the airplane flies, it's gone," Steve Hafner, CEO of Kayak, a Booking Holdings unit, told Reuters. Average summer flight prices declined 7%, with flights to long-haul destinations like Sydney, Australia 23% cheaper year-over-year, according to Kayak. Hotel bookings have "actually fallen off and it gets weaker like a month out," Hyatt Hotels CEO Mark Hoplamazian told an audience at the NYU International Hospitality Investment Forum on Tuesday. "By the time you get to that month, it recovers." Summer bookings in major U.S. cities are flat-to-down year-over-year, according to data from CoStar. Average room rates are expected to rise roughly 1.3% in 2025, down from a 1.8% increase in 2024. "We're not getting that crazy pricing power we got in the early days of the recovery," Marriott CEO Anthony Capuano said, adding that the company was still seeing revenue per available room increase. Weaker dollar Travelers may start to find deals, such as a free third night for staying two nights, as hoteliers look to fill rooms, said Jan Freitag, national director of hospitality analytics at CoStar Group. That's what Jackie Lafferty is hoping for. Her summer plans have shifted from a possible family vacation in Hawaii or Florida to her home state of California instead. "By the time we broke down the cost of the flights, the hotel and the rental car, it looked expensive, it felt unreasonable," said Lafferty, a Los Angeles-based public relations director. The dollar's weakness has driven up the cost of overseas vacations. In March, American travelers surveyed by Deloitte had planned to increase budgets for their longest summer trip by 13%. By April, Deloitte's survey found Americans planned on spending about the same as last year. "The dollar is just not going as far and I think people are starting to realize that," said Chirag Panchal, CEO of the Ensuite Collection, a Dallas luxury travel concierge. The dollar has fallen about 10% since mid-January, when it was its strongest in more than two years. Panchal's clients, who had booked big trips to Europe last year, are either staying domestic or going to closer destinations like Canada or the Caribbean. "We might go international at the end of the summer. If we do, it will be last-minute and spur of the moment based on cheaper flights," said Rachel Cabeza, 28, an actor and fitness instructor based in New Jersey. For now, her only summer plan is a getaway to Martha's Vineyard in nearby Massachusetts.
Yahoo
05-06-2025
- Business
- Yahoo
US hotel forecast downgraded amid economic risks
Growth projections for the United States hotel industry have been revised downward for 2025 and 2026, according to an updated forecast by CoStar and Tourism Economics released at the NYU International Hospitality Investment Forum. The downgrade reflects underperformance in early 2025 and growing concerns around the broader economic outlook. The revised hotel industry forecast shows weaker anticipated growth across all key performance indicators. Demand is now expected to grow 0.6 percentage points less than previously projected in 2025, with a further 0.3-point reduction forecast for 2026. Average daily rate (ADR) growth is also set to slow, dropping 0.3 points in 2025 and 0.7 points the following year. Revenue per available room (RevPAR), a widely used metric for hotel performance, is forecast to rise at a reduced pace—down 0.8 points in 2025 and 0.6 points in 2026. While overall performance indicators remain positive, the pace of growth is slowing. Amanda Hite, president of STR (a division of CoStar), said demand is expected to remain subdued in the lower and mid-range hotel segments due to weaker consumer confidence. Booking windows have shortened, making it harder for hoteliers to plan ahead, and leisure travel growth is becoming more isolated across markets. Tourism Economics noted that economic headwinds are weighing on business and international travel recovery. Aran Ryan, director of industry studies at the group, cited pressures from rising prices, a softening labour market, and cautious business investment. Although the risk of a full recession has diminished, Ryan said the economy—and the travel industry with it—faces a delicate balancing act in the months ahead. The business travel sector has shown signs of gradual improvement, particularly among group and transient bookings in certain industries. However, recovery remains uneven and dependent on broader financial conditions. In addition to reduced projections for RevPAR and ADR, the forecast also includes a downgrade to the expected gross operating profit per available room (GOPPAR). The 2025 estimate has been lowered by $3, reflecting higher operating costs and less contribution from ancillary revenue streams. Hite said that while GOP is still growing, the increase is modest when adjusted for inflation. Rising departmental costs and limited margin expansion are expected to weigh on profit levels through at least 2026. The updated outlook points to ongoing challenges for the US hospitality sector as it navigates slower economic growth, shifting travel patterns, and tighter consumer budgets. "US hotel forecast downgraded amid economic risks" was originally created and published by Hotel Management Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
04-06-2025
- Business
- Yahoo
Hotel leaders talk value — and challenges — of proliferating brands
This story was originally published on Hotel Dive. To receive daily news and insights, subscribe to our free daily Hotel Dive newsletter. At the NYU International Hospitality Investment Forum in New York City this week, the names of hotel brands were everywhere — but they weren't instantly recognizable to everyone at the event. 'It seems like everybody's launching a new hotel brand every day, and this is, I think, not going to work,' said Barbara Muckermann, CEO of Europe's Kempinski Group, onstage during a panel on examining the value of brands. 'If I'm confused and I'm actually paid to understand the market, imagine a consumer.' Both Marriott International and Hyatt Hotels, for instance, launched new brands just last month. While further hotel brand introductions might seem like overkill to some, hotel executives speaking at the event agreed that brands, when operated well, drive significant value — even if their brand strategies are as diverse as the brands themselves. Over two panels — one a CEO roundtable and the other a conversation about brand acquisitions — hotel leaders shared strategies and predictions for the role brands play in the future of hospitality. The following are top takeaways from the experts, who discussed recent mergers, guest loyalty, expansion plans and more. According to Margaritaville CEO John Cohlan, 'the core role of brands is to deliver on the emotional expectation that people have about an experience.' That comes with work, though — and perhaps even more work for successful brands, he noted. 'The good news is you have a brand that resonates with people. The bad news is you have a brand that resonates with people, because people have an expectation. The hardest part is to continue to meet that expectation,' Cohlan said in a CEO roundtable Tuesday morning dubbed 'CEOs in Conversation: Examining the value of brands in the success of a hospitality property.' Meeting that expectation drives more than guest satisfaction, however; it deepens guest loyalty, ultimately contributing to the bottom line, according to Greg Juceam, president and CEO of Extended Stay America. 'Strong brands have OTA contributions in the mid teens [percentages], because the brand drives the business,' Juceam added. And those loyal guests not only stay more often, but they also 'stay longer and they spend a lot more money,' according to John Murray, president and CEO of Sonesta Hotels. 'A loyalty program is about data,' said Larry Cuculic, president and CEO of BWH Hotels. 'It's about having the information about your consumer so that you can personalize travel in the future, so you can market to them wisely, so you know where they stay, historically, and you can contact them.' 'The whole idea of a brand is that people want to come and engage with you directly,' said Cohlan, pointing to the fact that strong loyalty can be a way to sidestep OTAs. That loyalty, though, is harder to attract without firm, thoughtful brand standards. 'It's about making sure that we've tested everything that we put in [to the brand],' Juceam said. 'It's about making sure that brand standards are really creating value.' Kempinski Group's Muckermann also emphasized the importance of deeply considering a brand's standards and identity. 'You need to know what you stand for, otherwise you're not the brand,' she said. 'And particularly when we look at the luxury end of the spectrum, it is really the brand that will make the difference between the functional benefits and the emotional benefits [of a hotel stay]. And at the end of the day, that will increase the [customer's] willingness to pay because it increases the [brand's] differentiation.' Deeply considering these standards essentially makes a return on investment case, she added, justifying 'the hundreds of millions of dollars that you need every year to be able to have your brand out there as one of the leading brands.' In a Monday afternoon panel — 'Transacting brands: Unpacking the dynamics behind the sale and integration of hotel brands' — Amar Lalvani spoke about why Standard International welcomed its multimillion-dollar acquisition by Hyatt Hotels last year. Now president and creative director of Hyatt's Lifestyle Group, Lalvani said, '[The Standard] started opening in places like Bangkok and Melbourne and the U.K. and Maldives. We built beautiful hotels, but you need the engine to make them really successful.' As the brand scaled, 'I would say we outgrew our infrastructure.' Lalvani and Hyatt agreed that the team behind The Standard's brand should stay on — hence the newly created Lifestyle Group. 'My request was that we keep our whole team together, which we did,' he said. When asked if it would have been a dealbreaker if Hyatt had insisted on taking over the brand entirely, Lalvani said yes. Hyatt's Lifestyle Group opened its inaugural property, Andaz Miami Beach, in Florida last month. Mike Hollman, Hilton's senior vice president, treasurer and head of strategic finance, pointed to a similar strategy at play when his company acquired the Graduate Hotels brand for $210 million last year. 'As part of the transaction, a number of the [previous Graduate Hotels owner] AJ Capital and Graduate leadership came over,' Hollman said. Former Graduate Hotels President Kevin Osterhaus joined Hilton as president of global lifestyle brands, where he's now tasked with overseeing the company's ambitious plans for growth in the segment. 'It's a collaborative effort. One beauty of having that expertise join Hilton is understanding the history, the learnings and what they originally created,' Hollman added. 'And how do you bring that into our ecosystem and keep it unique, keep it special, but also allow it to grow?' Hollman noted that Hilton is actively looking at bringing the Graduate brand to other markets. Meanwhile, G6 Hospitality Chairperson Ritesh Agarwal, the founder of India's OYO Rooms, shared plans for the company's brands. OYO completed its $525 million acquisition of G6 Hospitality — the owner of the Motel 6 and Studio 6 brands — in December. 'We will keep these as three different brands, between OYO, Motel 6 and Studio 6, with different propositions,' he shared. The extended stay Studio 6 brand, in particular, 'is going to be a big focus of growth.' Meanwhile, OYO will take a soft brand approach, allowing smaller, 50- to 100-key properties to join its platform. That platform is currently undergoing improvements, with Agarwal noting that OYO is 'doubling down' on the brands' websites. Recently, the company launched a new mobile app. 'We believe in today's world, there is no business which is not a technology business,' Agarwal said. Sign in to access your portfolio
