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Pharmacy Business Awards 2023: Honoring the Winners of Excellence

The Pharmacy Business Awards 2023, held on Wednesday, 4th October in Central London, was a resounding success, marking a night of recognition and celebration of the finest achievements in the pharmacy industry. This esteemed event, attended by pharmacy luminaries, highlighted the outstanding contributions of individuals and businesses across various categories. The awards were presented by Kalpesh Solanki, Group Managing Editor of Pharmacy, and Shailesh Solanki, Executive Editor of Pharmacy Business.

The awards ceremony was generously sponsored by some of Britain’s leading pharmaceutical companies, including Alliance Healthcare, Bristol Labs, Glenmark, Cipla, Haleon, Kenvue, Reckitt, Sigma Pharmaceuticals, Teva, and many more, underscoring the industry’s commitment to excellence and innovation.

Here’s a look at the remarkable winners who shone at this distinguished event: Pharmacy Business of the Year Award 2023

WINNER: Patrick Gompels, D&M Gompels, Melksham, Wiltshire

Pharmacy Business Inspiring Woman of the Year Award 2023

WINNER: Sobha Sharma Kandel, Neem Tree Pharmacy, Abbey Wood, London

Pharmacy Business Enterprise Award 2023

WINNER: Deborah Evans, Remedi Health, Winchester, Hampshire

Pharmacy Business Community Award

WINNER: Nemesh Patel, Davies Pharmacy in Havant, Hampshire

Local Health Initiative of the Year 2023

WINNER: Pillbox Chemists in Colnbrook, Berkshire

Sustainable Pharmacy of the Year

WINNER: Prabjaudt Singh Channa of Priory Pharmacy in Orpington, Kent

Pharmacy Team of the Year

WINNER: Edwinstowe Pharmacy, Edwinstowe, Mansfield

Aspiring Pharmacy Leader of the Year

WINNER: Davinder Virdee of Pillbox Chemists, Colnbrook, Berkshire

Pharmacy Business Development Award

WINNER: Baljit Kaur of Smarta Healthcare in Bedford

Pharmacy Assistant of the Year

WINNER: Anne Edwards of Jephson Pharmacy in Swindon

Independent Prescriber of the Year

WINNER: Atul Patel, Lincoln Pharmacy, London

Public Health Pharmacist of the Year

WINNER: Ayan Awale, Spiralstone Pharmacy, Southampton

Community Pharmacy Heroes

WINNER: Natalie Carruthers, Seaton Burn Pharmacy, Seaton Burn, Newcastle Upon Tyne

Ramniklal Solanki Lifetime Achievement Award

WINNER: Mark Lyonette, Chief Executive of the National Pharmacy Association

OTC Brand of the Year

WINNER: Buttercup, Perrigo

Innovation in Generics Award

WINNER: Apixaban, Teva

Branded Manufacturer of the Year

WINNER: Sanofi

Generic Manufacturer of the Year

WINNER: Teva

The Pharmacy Business Awards 2023 showcased the remarkable achievements and commitment of these outstanding individuals and organizations in the pharmacy profession. Their contributions continue to shape and elevate the industry, ensuring that the highest standards of care and innovation are upheld. Congratulations to all the deserving winners!

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Pharmacy Business Awards 2023: Celebrating Excellence in the Pharmacy Profession

On October 4th, 2023, the prestigious Pharmacy Business Awards took place in Central London. This grand event brought together luminaries from the world of pharmacy and featured the presentation of awards to outstanding individuals and businesses in various categories. The awards were presented by Kalpesh Solanki, Group Managing Editor of Pharmacy, and Shailesh Solanki, Executive Editor of Pharmacy Business.

Here are the remarkable winners in each category:

Pharmacy Business of the Year Award 2023

WINNER: Patrick Gompels, D&M Gompels, Melksham, Wiltshire

Pharmacy Business Inspiring Woman of the Year Award 2023

WINNER: Sobha Sharma Kandel, Neem Tree Pharmacy, Abbey Wood, London

Pharmacy Business Enterprise Award 2023

WINNER: Deborah Evans, Remedi Health, Winchester, Hampshire

Pharmacy Business Community Award

WINNER: Nemesh Patel, Davies Pharmacy in Havant, Hampshire

Local Health Initiative of the Year 2023

WINNER: Pillbox Chemists in Colnbrook, Berkshire

Sustainable Pharmacy of the Year

WINNER: Prabjaudt Singh Channa of Priory Pharmacy in Orpington, Kent

Pharmacy Team of the Year

WINNER: Edwinstowe Pharmacy, Edwinstowe, Mansfield

Aspiring Pharmacy Leader of the Year

WINNER: Davinder Virdee of Pillbox Chemists, Colnbrook, Berkshire

Pharmacy Business Development Award

WINNER: Baljit Kaur of Smarta Healthcare in Bedford

Pharmacy Assistant of the Year

WINNER: Anne Edwards of Jephson Pharmacy in Swindon

Independent Prescriber of the Year

WINNER: Atul Patel, Lincoln Pharmacy, London

Public Health Pharmacist of the Year

WINNER: Ayan Awale, Spiralstone Pharmacy, Southampton

Community Pharmacy Heroes

WINNER: Natalie Carruthers, Seaton Burn Pharmacy, Seaton Burn, Newcastle Upon Tyne

Ramniklal Solanki Lifetime Achievement Award

WINNER: Mark Lyonette, Chief Executive of the National Pharmacy Association

OTC Brand of the Year

WINNER: Buttercup, Perrigo

Innovation in Generics Award

WINNER: Apixaban, Teva

Branded Manufacturer of the Year

WINNER: Sanofi

Generic Manufacturer of the Year

WINNER: Teva

These awards, celebrated the dedication, innovation, and commitment that drive the pharmacy industry forward. Each of these remarkable individuals and organizations made significant contributions to the pharmacy profession, and their accomplishments were celebrated at the Pharmacy Business Awards 2023. Congratulations to all the deserving winners!

Source: https://pharmacybusinessawards.co.uk/winners/winners-2023/ https://pharmacybusinessawards.co.uk/ https://www.pharmacy.biz/

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Amir Ahmed: Blending Sporting Spirit and Heritage into DISH EVP’s Journey

Amir Ahmed’s path to becoming the Executive Vice President for DISH TV, part of DISH Network Corp., was influenced by his early love for sports and his commitment to building strong personal relationships. His journey from a sports enthusiast to a business leader was recently shared in Asian Hospitality’s Leadership Series.

One of Ahmed’s responsibilities in his current role is overseeing DISH’s hospitality business. Under his leadership, DISH is introducing new technology solutions for hotels aimed at attracting guests and improving operational efficiency while reducing labor needs. The company’s innovative OnStream platform offers personalized services to guests.

Despite his success in the business world, Ahmed remains deeply connected to his heritage.

“I’m very proud to be Indian,” Ahmed said. “I think the upbringing, the competitiveness within the family, how the parents brought us up, my brother and I, it’s just go out there and put the best effort and work and then also treat your employees correctly and educate them and educate your partner.”

Early Experiences and Cultural Roots

Ahmed’s family moved from India to Canada in 1966, and he joined them in Chicago in 1972. His early days in Chicago were marked by his first experience with snow, a significant change from his upbringing in India. Despite living in the United States, Ahmed and his siblings continued to maintain strong ties to their cultural roots by visiting India during summers. He highlighted the importance of preserving his family’s cultural heritage, including learning the Hindi language and not becoming overly Americanized.

Guided by Family Values

Ahmed’s life and career have been profoundly shaped by his upbringing, emphasizing the importance of family, trust, and building strong relationships. He shared the valuable lesson his father imparted: “Everything being equal, a friend is going to buy from a friend.” This principle of trust and loyalty has been a guiding force in Ahmed’s professional journey.

Career with DISH

Amir Ahmed’s career with DISH began during the company’s early years. Over his 30-year tenure, he witnessed the transformation of the satellite TV industry from analog to digital dishes and the expansion of 5G networks. During this time, DISH has consistently provided innovative solutions to deliver high-quality services to customers at home and within various industries, including digital streaming, hospitality, and wireless communication.

DISH’s Focus on Hospitality

Today, DISH serves over 12,000 hotels with more than 1.3 million rooms across the United States. The company works closely with hotel brands, independents, and small businesses to provide tailored solutions that enhance guest experiences and operational efficiency. DISH offers a range of services, including linear content, OTT services, local services, customizable packages, and equipment to meet the unique needs of each hotel.

Introducing OnStream

In June, DISH Business introduced OnStream, a platform designed to deliver custom digital experiences for hotel management, staff, and guests. OnStream offers a user-friendly interface that allows guests to access services such as check-out, room service, housekeeping, and more directly from their TV screens or mobile devices. The platform not only enhances guest satisfaction but also reduces labor costs for hotels.

Amir Ahmed emphasized the central role of television in hotel rooms and how OnStream transforms the guest experience. It provides personalized content, welcomes guests with hotel information and offers, and even integrates with loyalty programs for tailored offers.

Future Growth

Looking ahead, Ahmed sees continued growth for DISH. The company remains committed to developing new products and solutions that simplify people’s lives and align with evolving technology trends worldwide. DISH’s focus on the hospitality sector and collaboration with hotel brands signal a promising future for innovative in-room entertainment solutions like OnStream.

In conclusion, Amir Ahmed’s journey from a sports enthusiast to a business leader reflects his dedication to building trust, fostering strong relationships, and preserving his cultural heritage. Under his leadership, DISH is making significant strides in the hospitality industry by offering cutting-edge technology solutions to enhance the guest experience. Source: https://www.asianhospitality.com/sporting-spirit-heritage-guide-dish-evp/

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AAHOA Endorses Ethical and Beneficial Use of AI in Hotels

As the integration of artificial intelligence (AI) becomes increasingly prevalent across various sectors, AAHOA (Asian American Hotel Owners Association) has expressed its support for AI adoption in the hotel industry. AAHOA emphasizes that while AI has the potential to enhance operational efficiency and reduce costs, its development and application should adhere to ethical standards.

AAHOA pointed to recent research studies, one conducted by the Conrad N. Hilton College of Global Hospitality Leadership at the University of Houston and another by Morgan Stanley, to underscore the advantages of incorporating AI into hotels to elevate the guest experience.

The University of Houston’s study delved into AI’s transformative impact on the hospitality industry and its acceptance among hotel guests. Additionally, Morgan Stanley’s research report, titled “AI for Hotels: Will the Hotel of the Future Fit in the Palm of Your Hand?” and released on August 18, detailed the benefits of early AI adoption for hoteliers, online travel agencies, and hotel brands.

Morgan Stanley’s report noted, “Artificial intelligence has the potential to revolutionize the entire travel experience, spanning research, booking, on-site engagement, and post-stay interactions.” It highlighted AI’s capacity to enhance personalized experiences, reduce costs, and facilitate increased tech integration within hotel systems, presenting opportunities for improved guest interactions.

AI Enhances Services

AI technology has unlocked fresh avenues for hotels to deliver tailor-made services, thereby enhancing the overall guest experience. For example, AI supports optimized workforce management, prediction of booking and stay patterns, improved inventory and staff management, competitive room pricing, and the discovery of new revenue streams.

AI-powered chatbots and virtual assistants help mitigate labor shortages by handling routine guest inquiries, allowing hotel staff to concentrate on high-touch services and complex tasks. This fosters personalized guest experiences.

Balancing Benefits and Risks

AAHOA recognizes the need for a balance between AI’s benefits and potential risks. It emphasizes the importance of transparency and effective communication, particularly concerning sensitive issues like data privacy. The association is committed to employing AI as a tool for innovation and enhancement, focusing on making guest experiences more personalized while maintaining ethical practices and transparency.

Laura Lee Blake, AAHOA’s President & CEO, stated, “As an industry leader, AAHOA is dedicated to utilizing AI as a tool for innovation and enhancement, making the guest experience more personalized.”

Bharat Patel, AAHOA Chairman, added, “Artificial intelligence provides an additional tool for business management, growth positioning, and improved customer experiences and relationships.”

To ensure the responsible use of AI technology, AAHOA aims to establish trust and understanding through open dialogues with guests. The ultimate goal is to consistently create memorable experiences for each guest while upholding the highest ethical standards.

The topic of artificial intelligence was discussed as one area of collaboration when AAHOA met with Indian Prime Minister Narendra Modi during his recent visit to Washington, D.C. Source: https://www.asianhospitality.com/aahoa-endorses-ethical-beneficial-ai-in-hotels/

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AAA Reports 4% Increase in Labor Day Weekend Bookings; Motel 6 and Studio 6 Offer Discounts

As summer 2023 comes to a close, AAA Travel has reported a 4% increase in Labor Day weekend travel bookings compared to the previous year. This uptick in travel demand is seen as the grand finale of an exceptionally busy summer travel season.

Debbie Haas, Vice President of Travel for AAA — The Auto Club Group, stated, “Labor Day weekend will be the big sendoff to what has been an extremely busy summer travel season.”

While AAA did not release its usual forecast for the number of travelers expected during the weekend, they did provide the top five domestic destinations for this Labor Day: Seattle, Orlando, Anchorage, New York, and Las Vegas.

Seattle’s tourism, in particular, has received a boost from strong demand for Alaska cruises. Florida destinations remain popular due to their beaches, theme parks, and cruise ports. AAA data shows that domestic cruise bookings over Labor Day weekend have increased by 19% compared to 2022.

In terms of gas prices, while the national average for a gallon of regular gas was $3.78 on Labor Day 2022, it stood at $3.83 on August 24, 2023, representing a 24-cent increase from the previous month. However, AAA anticipates that gas prices should remain steady or even decrease heading into Labor Day weekend, barring any major disruptions like a Gulf of Mexico storm.

AAA also shared insights from a survey of its travel advisors, highlighting key topics and trends for this summer: - 59% of AAA travel advisors have noticed increased interest in travel insurance over the last 60 days. - 83% of advisors reported that the most common concern among travelers in the last 60 days was the fear of getting stranded due to delayed or canceled flights. - 64% of advisors noted that travelers who booked extended vacations (at least 14 nights) did so mainly to have more time to explore destinations. - There is significant traveler interest in ocean and river cruises, as well as all-inclusive and guided tour vacations.

To coincide with Labor Day weekend, economy lodging brands Motel 6 and Studio 6 are offering stay discounts for My6 members. My6 is the free rewards program from Motel 6 and Studio 6, and loyalty members will receive a 12% price reduction on all reservations made during the holiday weekend from September 1 to 4.

Julie Arrowsmith, President and Interim CEO of G6 Hospitality, the parent company of Motel 6 and Studio 6, expressed gratitude for the workforce and extended special Labor Day travel discounts as a gesture of appreciation. My6 rewards members also enjoy a minimum 6% discount on stays at over 1,400 Motel 6 and Studio 6 locations throughout the year, along with various benefits across travel, streaming platforms, food, and entertainment.

In July, Motel 6 and Studio 6 partnered with the Humane Society of the United States for the ‘More Than a Pet’ campaign, which focuses on addressing the pet poverty crisis, providing financial support to pet owners in need, improving access to pet care and supplies, and ultimately keeping families and pets together. Source: https://www.asianhospitality.com/aaa-labor-day-weekend-bookings-rise-4-percent/

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Hyatt Studios Set to Debut in Alabama and California Following Franchise Agreements

Hyatt Hotels Corporation has signed franchise agreements with 3H Group and Presidio Hotel Development to introduce Hyatt Studios in two U.S. states. These agreements represent a significant expansion for Hyatt’s upper-midscale extended-stay brand in the Americas.

1.Alabama Debut with 3H Group:  — Led by founder Hiren Desai, 3H Group will bring Hyatt Studios to Mobile, Alabama. This marks the first Hyatt-branded hotel in the area.  — The hotel’s location in Tillman’s Corner, near Mobile, offers proximity to the Gulf Coast along Mobile Bay, making it an attractive destination.  — Mobile’s diverse economy, including manufacturing, aerospace, and retail sectors, adds to the appeal of this midscale property.  — The Hyatt Studios hotel in Tillman’s Corner is expected to open by late 2024.

2. California Entry with Presidio Hotel Development:  — Presidio Hotel Development, led by Guneet Bajwa, will introduce a 113-room Hyatt Studios hotel in downtown Marysville, California.  — The hotel in Marysville will feature tailored meeting spaces, catering to both business travelers and local event attendees.  — The property is scheduled to open in 2025.

Hyatt Studios, launched in April, has already garnered significant interest, with over 100 letters of interest for the brand. This expansion into new markets aligns with Hyatt’s commitment to developers, guests, and its World of Hyatt members.

Dan Hansen, global head of Hyatt Studios, highlighted the importance of offering Hyatt options in fresh markets to foster brand loyalty and provide developers with untapped opportunities.

Both 3H Group and Presidio Hotel Development expressed their excitement about partnering with Hyatt, emphasizing Hyatt’s dedication to exceptional service and innovative extended-stay concepts. These agreements mark significant milestones in Hyatt’s ongoing expansion efforts.

In a related development, David Wani-led Twenty Four Seven Hotels launched the 128-room Hyatt House Sacramento/Midtown in February. This adaptive reuse project, owned and developed by Hume Development, Inc., transformed the former Eastern Star Hall, contributing to Sacramento’s vibrant arts, music, and cultural scene. Source: https://www.asianhospitality.com/hyatt-studios-set-to-make-debut-in-alabama-california/

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U.S. Hotel Performance Reflects Seasonal Trends for the Week Ending August 19, with Year-over-Year Improvements

U.S. hotel performance followed typical seasonal patterns during the week ending August 19, with a slight decline compared to the previous week. However, year-over-year comparisons showed signs of improvement, indicating a positive trend in the industry.

Occupancy for the week ending August 19 reached 67 percent, which was slightly lower than the previous week’s 68.3 percent. Despite this, it represented a marginal decrease of only 0.1 percent compared to the same period in 2022. The Average Daily Rate (ADR) was $154.10, down from the prior week’s $156.47 but still reflecting a 1.8 percent growth from the same period last year. Revenue Per Available Room (RevPAR) was $103.22, lower than the previous week’s $106.89, but it demonstrated a 1.8 percent increase from 2022.

Among the top 25 markets, San Francisco stood out with the largest year-over-year occupancy boost due to seasonal patterns, experiencing an 8.2 percent increase to achieve an occupancy rate of 76.9 percent. New York City recorded the highest ADR, with a substantial 10.7 percent rise to $256.33. Additionally, New York City had the highest RevPAR increase, up by 19.7 percent to reach $214.86.

In contrast, Orlando experienced the most significant RevPAR decrease, dropping by 8.0 percent to reach $89.94.

It’s worth noting that outside the top 25 markets, Maui Island reported notable year-over-year declines in both occupancy, which decreased by 27.6 percent to 49.0 percent, and RevPAR, declining by 40.8 percent to $249.49. These declines may be attributed to specific regional factors impacting travel and tourism.

Overall, while there was a seasonal decline in hotel performance compared to the previous week, the year-over-year improvements suggest positive momentum in the U.S. hotel industry. Source: https://www.asianhospitality.com/costar-u-s-hotel-performance-reflects-seasonal-trends-for-week-ending-aug-19/

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IHG Launches ‘IHG LIFT’ Diversity Initiative to Promote Inclusivity in Hotel Ownership”

IHG Hotels & Resorts has introduced a new program called “IHG LIFT,” which aims to support historically underrepresented groups in the hospitality industry by offering development assistance for hotel owners. This initiative is part of IHG’s commitment to fostering diversity within its hotel owner community and promoting inclusivity in the sector.

“IHG LIFT” stands for Leadership, Inclusivity, Facilitation, and Transformation, reflecting the program’s objectives of bringing about positive change and ongoing evolution within the industry. IHG has committed to investing over $30 million in the program over the next five years, providing support, access to capital, and guidance throughout the hotel development process for eligible owners in the United States and Canada.

The primary goal of the IHG LIFT program is to eliminate common barriers to hotel ownership that historically underrepresented groups may face, thereby promoting diverse ownership and entrepreneurial success within the industry.

Julienne Smith, IHG’s Chief Development Officer for the Americas, emphasized the need to focus on enabling success for a diverse ownership base as the industry continues to grow. Barriers such as limited access to capital and professional networks have put diverse owners at a disadvantage. The IHG LIFT program is specifically designed to help remove these barriers and support owners from underrepresented backgrounds.

Jyoti Sarolia, CEO of Ellis Hospitality and an owner of IHG hotels in California, highlighted the significance of programs like IHG LIFT in promoting diversity within the hotel industry. Diversifying ownership aligns with the industry’s commitment to serving a diverse guest base.

In addition to IHG LIFT, the company is expanding its commitment to diversity, equity, and inclusion by promoting diverse suppliers through the EPIC Supplier Diversity Program. IHG is also collaborating with architecture, design, and construction firms that prioritize diversity, equity, and inclusion principles in their operations.

IHG LIFT is dedicated to reaching underrepresented diverse owners both within the hospitality industry and IHG’s owner community. This initiative underscores IHG’s commitment to fostering inclusivity and supporting diverse entrepreneurs in the hotel ownership sector.

During a recent earnings call, IHG unveiled plans for a new midscale conversions brand, with over 100 hotels expressing strong interest. Additionally, IHG reported a 24 percent year-over-year increase in Revenue Per Available Room (RevPAR) for the first half of the year, ending on June 30, indicating positive growth in the industry. Source: https://www.asianhospitality.com/ihg-launches-diversity-initiative-ihg-lift/

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CBRE Revises Near-Term Hotel Outlook Amid Softened Summer Demand

CBRE, a prominent research firm, has adjusted its outlook for the U.S. hotel industry due to lower-than-anticipated summer demand, leading to a shortfall in second quarter Revenue Per Available Room (RevPAR). The revised 2023 RevPAR outlook now stands at $96.64, indicating a 4.6 percent year-over-year increase but a reduction of $1.25 from the previous May 2023 projection. This adjustment is grounded in a 70-basis-point decline in projected occupancy compared to the previous forecast.

In its statement, CBRE states that it projects a 3.6 percent rise in Average Daily Rate (ADR) for 2023, which reflects a 10 basis points reduction from its prior forecast.

CBRE’s baseline-scenario outlook is based on a projected 1.6 percent average GDP growth and an average inflation rate of 4.3 percent for 2023. The firm underscores the direct correlation between GDP and RevPAR growth, indicating that shifts in the economic forecast will have a direct impact on the lodging industry’s performance.

Rachael Rothman, CBRE’s Head of Hotel Research and Data Analytics, notes, “An analysis of travel trends suggests that record numbers of Americans are traveling abroad this summer, with a particular focus on Europe and the Caribbean.” She anticipates that the return of long-haul flights from Asia and easing visa delays will lead to increased inbound international travel to the U.S., supporting further demand growth.

During the second quarter, demand dipped by 1.2 percent year-over-year, marking the first decline since the post-pandemic recovery began in the second quarter of 2021, according to CBRE. Despite a projected ADR growth of 2.6 percent, RevPAR growth was a modest 1.1 percent for the quarter, falling short of CBRE’s projected 4.4 percent.

CBRE’s Senior Economist and Head of Global Hotels Forecasting, Michael Nhu, finds the decline in second-quarter demand somewhat surprising considering the stronger-than-expected GDP growth during that period. He suggests a temporary shift in consumer preferences towards international travel, particularly to Europe and the Caribbean, instead of domestic travel.

Among different location types, the urban segment demonstrated the strongest performance, with a 4.7 percent rise in RevPAR growth, while the resort category experienced the weakest performance with a 3.7 percent decline in RevPAR, yet remaining 15 percent above pre-pandemic levels.

CBRE also predicts that hotel supply will grow at a compound annual growth rate of 1 percent over the next five years, below the industry’s historical average of 1.6 percent.

Similarly, RevPAR projections for U.S. hotels in 2023 were slightly lowered by 0.5 percentage points in the latest forecast by STR and Tourism Economics due to a 0.6 percentage point decline in occupancy growth. Despite this adjustment, RevPAR is expected to continue outperforming the long-term average, with significant growth concentrated in the initial months of 2023. Source: https://www.asianhospitality.com/cbre-lowers-near-term-outlook-for-hotels-amid-softened-summer-demand/

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U.S. Hotel Performance Continues to Decline in Second Week of August, Says CoStar

The second week of August saw a decline in U.S. hotel performance compared to the previous week, as reported by CoStar. Nevertheless, the results showed positive year-over-year comparisons, with the exception of Maui Island, where wildfires led to significant declines in occupancy and RevPAR.

For the week ending on August 12, occupancy reached 68.3 percent, slightly lower than the preceding week’s 68.9 percent, but remained unchanged compared to the same period in 2022. The Average Daily Rate (ADR) was $156.47, a decrease from the previous week’s $158.10, but indicated a 2 percent growth from the same time last year. Revenue Per Available Room (RevPAR) was $106.89, lower than the prior week’s $108.97, yet still showing a 2 percent increase from 2022.

Among the top 25 markets, Los Angeles stood out with the largest year-over-year growth in key performance metrics during the second week of August. Occupancy surged by 13.5 percent to reach 82.6 percent, ADR increased by 8.4 percent to $222.98, and RevPAR rose by 23 percent to $184.16, largely attributed to the Taylor Swift Eras Tour.

New York City also reported notable performance gains, with occupancy rising by 7.3 percent to 83.6 percent, ADR climbing by 8.3 percent to $258.39, and RevPAR increasing by 16.3 percent to $216.06.

Conversely, St. Louis experienced the most significant decline in RevPAR, dropping by 22.1 percent to $63.80.

It’s worth mentioning that outside of the top 25 markets, Maui Island faced substantial year-over-year declines in both occupancy and RevPAR. Occupancy decreased by 22.6 percent to 57.1 percent, and RevPAR dropped by 21.7 percent to $389.92. The island was recently impacted by devastating wildfires that led to significant loss of life and property damage. Source: https://www.asianhospitality.com/costar-u-s-hotel-performance-continues-downward-trend-in-the-second-week-of-august/

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AAHOA Leaders Commemorate India’s Independence Day

AAHOA leaders came together on August 15 to celebrate the 76th anniversary of India’s Independence Day through various social media platforms. The association took the opportunity to commend its members, acknowledging their strong connections to their Indian heritage.

This day marks the end of British rule in 1947, following the enactment of the Indian Independence Act on July 18 of the same year, leading to the establishment of an independent Indian nation. Additionally, it marks the division of the subcontinent into two nations, India and Pakistan, which occurred from midnight on August 14 to 15, 1947.

Laura Lee Blake, President, and CEO of AAHOA, shared in a LinkedIn update, “AAHOA represents a vibrant community of 20,000 hoteliers, a significant portion of whom maintain deep ties to their Indian heritage and undertake annual journeys between the U.S. and India. These journeys serve various purposes, including advocating for the hospitality industry on a global stage and making meaningful contributions within India.”

Bharat Patel, Chairman of AAHOA, echoed the sentiment in a LinkedIn post, saying, “On this momentous day of India’s Independence, I am reminded of the remarkable journey undertaken by my family, friends, and numerous individuals in the hospitality sector, all working towards their current positions.”

India’s Independence Day holds special significance for AAHOA members, embodying the spirit of entrepreneurship and the values encapsulated by the American Dream, as stated in an official association statement.

Amidst the celebrations, AAHOA also drew attention to a recent arbitration ruling against Choice Hotels International. The ruling cited contract violation due to insufficient negotiation of discounts through its preferred vendor program. This incident further underscores the need for comprehensive reform in hotel franchising, aligning with AAHOA’s ongoing advocacy efforts through its 12 Points of Fair Franchising. Source: https://www.asianhospitality.com/aahoa-leaders-celebrate-indias-independence-day/

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Wyndham’s ECHO Suites Attracts First Asian American Developers

In a recent development, Wyndham Hotels & Resorts has entered into 60 new franchise agreements for its ECHO Suites Extended Stay brand. Notably, this includes the brand’s first Asian American developers, Kalpesh Patel of VKB Management in Des Moines, Iowa, and Amish Patel of Precision Hospitality in Chattanooga, Tennessee.

Kalpesh and Amish have joined forces to establish NXT Development, with plans to construct at least 10 ECHO Suites properties over the next few years. Their targeted markets encompass Chattanooga, Mobile in Alabama, and either Columbus or Athens in Georgia.

Both Kalpesh and Amish have a background rooted in the hotel industry, having been involved in developing multiple brands, including the extended-stay segment. Their experience also includes working with WoodSpring Suites, previously known as Value Place and owned by Choice Hotels International.

The two developers have expressed their enthusiasm for the ECHO Suites brand due to its potential for growth and profitability, as well as the appealing design and efficient layout of the properties. ECHO Suites’ design emphasizes efficiency and a smooth flow for both guests and staff, making it an attractive option for developers.

The launch of ECHO Suites has generated significant interest from experienced extended-stay developers, contributing to its rapid growth. The brand’s global pipeline now includes 265 hotels with around 33,000 rooms. Numerous projects are underway across various states, with the aim of having 100 hotels open within the next five years.

ECHO Suites offers a prototype with a focus on new construction, featuring 124 rooms on an under two-acre land parcel. The rooms, including single and two-queen studio suites with kitchens, cover an average of 300 square feet each. The brand is expected to make a significant impact on Wyndham’s portfolio by 2024.

Wyndham recently organized its second Black Owners and Lodging Developers Symposium, leading up to the National Association of Black Hotel Owners, Operators & Developers Hotel Ownership & Investment Summit scheduled for 2023. Source: https://www.asianhospitality.com/wyndhams-echo-suites-gets-first-asian-american-developers/

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Hunter Hotel Advisors Facilitates Sale of Tru Harbison Hotel in Columbia, South Carolina

In a recent successful transaction, Hunter Hotel Advisors played a key role in facilitating the sale of the Tru by Hilton Harbison Columbia located in Columbia, South Carolina. The property was sold by Sycamore Investment Group, led by its President Aashay Patel, to APS Wheeler for an undisclosed sum.

After the completion of the sale, Sycamore Investment Group shared its intention to actively explore future opportunities in the market, as conveyed in a statement by Hunter Hotel Advisors.

Mayank Patel, Senior Vice President at Hunter, spearheaded the sale process on behalf of the seller and highlighted the positive performance of Tru Harbison Columbia in the first half of 2023. Patel noted that being one of Hilton’s newest offerings in the region, Tru Harbison is well-positioned due to its proximity to Downtown Columbia, Fort Jackson, and the University of South Carolina.

Built in 2018, the Tru by Hilton Harbison Columbia is an 85-room hotel that has consistently attracted a steady stream of leisure travelers. Its strategic location near popular attractions including Lake Murray and the Columbia Metropolitan Convention Center adds to its appeal.

Aashay Patel of Sycamore Investment Group acknowledged the collaboration with Hunter, expressing, “Once again, we’ve placed our trust in Mayank and the Hunter team to successfully execute another transaction in line with our strategic disposition approach. This sale not only delivers attractive returns to our investors but also allows us to allocate resources towards enhancing our strategy of developing high-quality hotel assets with strong growth potential.”

Teague Hunter, President and CEO of Hunter Hotel Advisors, recently shared his extensive industry insights in an interview with Asian Hospitality as part of their Leadership Series. The interview covered his early experiences in the industry, prevailing trends in the hotel market, and the future direction of his company and its flagship conference. Source: https://www.asianhospitality.com/hunter-facilitates-sale-of-tru-harbison-in-columbia-sc/

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Federal Per Diem Rates and Lodging Allowance Increased for 2024

The U.S. General Services Administration (GSA) has announced an increase in its standard per diem rates for federal travelers for fiscal year 2024. The new rate will be $166, which includes a $9 raise in the lodging allowance, now set at $107. This adjustment will be effective from October 1, 2023, to September 30, 2024.

Per diem rates dictate the reimbursement of federal employees’ expenses for lodging and meals during official government travel. The increase in rates includes a $9 raise for lodging in the continental U.S., as well as substantial rate hikes in multiple non-standard areas.

The GSA determines maximum lodging allowances based on historical Average Daily Rate (ADR) data, with a 5 percent reduction. However, the COVID-19 pandemic disrupted this approach, leading to adjustments in rates to ensure sufficient allowances for federal travelers in fiscal year 2024.

The American Hotel and Lodging Association (AHLA) welcomed the rate increase, acknowledging months of lobbying efforts on behalf of hoteliers. Chip Rogers, AHLA President and CEO, stated, “This represents a positive stride for hoteliers throughout the nation, given that government travel contributes billions to travel spending, and many private-sector entities also align their travel reimbursements with federal per diem rates.”

For fiscal year 2024, there will be a total of 302 non-standard areas, each with a lodging rate equal to or surpassing 2023 levels. The GSA collaborates with AHLA each year to determine equitable rates that benefit both hoteliers and the government.

The per diem rates are calculated based on the average daily rate from the past 12 months, reduced by five percent. The new per diem rate for fiscal year 2024 includes $107 for lodging and $59 for meals.

AHLA expressed gratitude for GSA’s efforts to ensure fair compensation for hotels due to the quality services they provide to government travelers. Collaboration between AHLA and GSA will continue as they advocate for lodging and meal rate increases in line with market conditions. In 2021, AHLA and AAHOA supported legislation that requires the GSA to consider the economic impact of the coronavirus when determining future per diem rates for federal travel. Source: https://www.asianhospitality.com/federal-per-diem-rates-lodging-allowance-get-increase-for-2024/

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Extended-Stay Segment’s Performance Stands Out in June, According to Report

In June, extended-stay hotels exhibited a trend similar to that of April and May, with the economy segment experiencing a decrease in Revenue Per Available Room (RevPAR), while upscale extended-stay hotels saw substantial growth, states a report by The Highland Group. The extended-stay hotel segment, overall, outperformed the broader hotel industry during this period.

Mark Skinner, Partner at The Highland Group, remarked, “Following two previous months in which extended-stay hotels achieved better performance than corresponding classes of all hotels, the onset of the summer travel season produced varying results in June.”

Key findings from the report include:

- Extended-stay hotel occupancy outpaced the overall hotel industry by 9.5 percentage points, a common trend during the summer season. - The upscale segment registered the most substantial monthly increase in extended-stay hotel Average Daily Rate (ADR) for the 10th consecutive month. - RevPAR growth for mid-price extended-stay hotels lagged behind equivalent categories, while the economy segment experienced a 2.7 percent decline. - Extended-stay hotels demonstrated excellence across all segments in May, outperforming the broader industry. - Demand increased in the mid-price and upscale segments in June, while the economy segment saw its 15th consecutive monthly decline. - Monthly supply growth remained modest, with the economy segment recording its most robust gain in over two years. - The overall hotel industry continued to catch up to extended-stay’s performance, with RevPAR rising 3.2 percent in the second quarter. - Extended-stay’s RevPAR recovery index for Q2 was 113 percent, two points ahead of the rest of the industry. - Extended-stay supply growth has been 3 percent or lower for five consecutive quarters, indicating more similar quarters ahead. - Room revenues were up 9 percent year-to-date, and the economy segment occupancy fell to a 13-year low.

The report also anticipates the impact of the overall hotel industry’s performance on the extended-stay segment, highlighting the importance of both factors for the industry’s future success. Source: https://www.asianhospitality.com/report-extended-stay-segments-outperform-broader-hotel-industry-in-june/

[hospitalitynews]

IHG Explores New Midscale Conversion Brand in Expansion Effort

IHG Hotels & Resorts has announced plans to introduce a new brand focused on midscale conversions, catering to a growing demand in the market. While the brand’s name is still confidential, more than 100 hotel properties and their owners have already shown keen interest in this upcoming addition to IHG’s portfolio.

Having previously launched successful brands like Holiday Inn and Holiday Inn Express in the upper-midscale category, IHG aims to tap into a $14 billion segment exclusive to the U.S. market with this new brand. The company anticipates that this move will further boost its growth trajectory.

Elie Maalouf, CEO of IHG, expressed his enthusiasm about the forthcoming brand, stating, “As we expand our brand portfolio, we’re pleased to announce an upcoming launch of a new brand aimed at midscale conversion opportunities. Conversions offer substantial growth potential, constituting approximately 40 percent of global first-half openings and signings, reflecting owners’ increasing eagerness to swiftly benefit from IHG’s reach and enterprise. We’re thrilled that over 100 hotels have already expressed definite interest in this new brand.”

Strong First-Half Performance

IHG reported a notable 24 percent year-over-year increase in RevPAR (Revenue Per Available Room) during the first half of the year, ending on June 30. In the second quarter, RevPAR witnessed a 9.9 percent growth compared to the same period in 2019.

Maalouf, who took over as IHG’s CEO in July, expressed his confidence in the company’s performance, saying, “With our strong business model and strategy, we’re poised to seize sustainable, profitable growth in the thriving industry.”

Expanding Portfolio and Pipeline

In the first half of the year, IHG opened 21,000 rooms across 108 hotels, in line with its net system size growth expectations. Additionally, the company secured agreements for over 34,000 rooms in 239 hotels, marking an 11 percent increase from the previous year. Significantly, more than a quarter of these new agreements were in the company’s luxury and lifestyle brands, signaling a strategic emphasis on this high-fee segment.

Maalouf noted, “Travel demand remains robust, with RevPAR showing consistent year-on-year improvement across all markets, surpassing pre-pandemic peaks from 2019 for four consecutive quarters.”

As IHG charts its growth trajectory, it joins other hospitality industry players in exploring opportunities to meet evolving consumer preferences and demands. Source: https://www.asianhospitality.com/ihg-mulls-new-brand-aimed-at-midscale-conversions/

[hospitalitynews]

Enhanced Tipping Trends Evident Among Loyalty Program Members, Shiny Study Reveals

A recent study conducted by Shiny, a provider of associate engagement and retention services, delves into the realm of tipping behavior, shedding light on intriguing patterns. The study underlines that guests are more inclined to offer gratuities to hotel staff on Sundays, with Tuesdays witnessing the least likelihood of such gestures. An interesting revelation from the research is the doubled probability of leaving tips among loyalty program members, when compared to non-members.

Titled ‘Tipping and Beyond: Data-Driven Approaches for Handling Hospitality Staffing Challenges’, Shiny’s inaugural report draws insights from 2023 sources, addressing the prevalent labor shortage issues within the industry. The study thoroughly examined tipping records from 28 U.S. hotels, encompassing both select-service and full-service branded as well as independent establishments. The dataset covered 594 tipped employees, spanning various roles such as housekeepers, valets, lounge staff, breakfast servers, and more.

The report reveals that the average tip amount across departments, including housekeeping, valet, dining, lounge, and the front desk, is $10.60. A substantial 80 percent of tips are extended by customers during the check-out process.

Rebecca Robinson, Co-founder of Shiny, noted the report’s significance, stating, “Before the pandemic, hotels were grappling with critical concerns such as labor acquisition, productivity, and retention. The impact of COVID-19 amplified these challenges, intensifying the quest for effective strategies to attract and retain talent. This report sheds light on the current tipping trends, offering valuable insights for optimized staffing and contributing to resolving the ongoing labor shortages.”

While the study indicates that higher wages might contribute to increased employee satisfaction, Robinson emphasizes that a one-size-fits-all solution is not apparent. “Through conversations with managers and staff, we have devised strategies to curtail turnover. From refining tipping methods to implementing transparent scheduling and streamlining processes for both employees and managers, our report not only highlights trends but also offers practical solutions to the challenges we’ve identified.”

In July, Hotel Equities collaborated with Grazzy and Visa Direct to introduce a digital tipping platform for associates and guests. This innovative program facilitates mobile tipping for various staff categories, including housekeeping and front desk personnel. Source: https://www.asianhospitality.com/shiny-tipping-probability-doubles-among-loyalty-program-members/