Hotel Analyst Podcast

Subscription models are a challenge for hotels, but get them right and they can be a valuable income stream that also drives loyalty too. Deloitte finds confidence in the sector improving, and its conference also looked at the likely impact of upcoming technological change. And as the sector continues to face staffing challenges, we discuss an initiative Whitbread is pushing forward.

Deal volume is starting to build, but it feels more like glacial melt, rather than all-out spring thaw. A major refinancing in the hostel space shines a positive light on that niche in the accommodation space, but it still remains at arms length to the mainstream. And Choice delivers its third quarter results - but the CEO uses the event to shout about why his offer to take over Wyndham is such a great idea.

Marriott sees returning business and group demand as an enduring tailwind, as it expands into midscale. The US Reits, Host and Park, as well as Hyatt are also enjoying a return of big corporate events. Third quarter results from the OTAs show they’re all pushing hard into more alternative accommodation, with Booking and Expedia turning up the heat under Airbnb. And then there’s the hype of AI….

Growing fast - Hilton and Wyndham were keen to shout about their growth figures in recent results. Wyndham spent time contrasting its numbers with those of suitor Choice…Business on the books in Europe is strong, say Pandox, Scandic and STR. And China is back, as noted by IHG and Accor in Q3 numbers - with more to come, as airlift is still rebuilding capacity.

Our thoughts on the big consolidation deal - will Choice swallow Wyndham? AccorInvest looks to slim down, and trim debt, as it seeks to slip away from Accor. And Whitbread looks to find the love for Premier Inn in Germany.

While recent studies paint a rosy picture for the hotel sector, we wonder what the latest issues in and around Israel will deliver to those operating in the region. In the UK and Europe, deals look to be happening again, as issues around inflation and debt are put into perspective. And third party operators spread their wings, as owners learn they can earn more from their assets.

Thoughts from Marriott on how it intends to grow over the next three years, as it launches an underwhelmingly named new brand. More from the Operational Real Estate festival, on how traditional real estate asset classes are losing their appeal. Why all-inclusive continues to be an attractive market sector. And thoughts on the impact of the latest conflict in Israel.

Reflections from the Operational Real Estate Festival. Accommodation alternatives Selina, Soho House and Sonder wrestle with the challenges of growth, and delivering profits - investors like the first, but will ultimately demand the second. And luxury hotels look to be ever in demand, not just from well-heeled guests, but with investors too.

The deals market has been becalmed by higher interest rates, will it now ease? The challenge of demonstrating the economic positives of travel. PPHE and Dalata look confidently ahead; PPHE has a strong brand deal, would Dalata benefit from something similar? And we chew over the frustrations of drip pricing.

Across the piece, all sorts of buildings with beds - from private rental to student accommodation, as well as hospitality - are impacted by either too much, or too little, regualation. In China, indebted developers are casting a shadow over hotel development for the international brands. And hotels return to normalcy, albeit with some tailwinds still to come from the business travel market.