KKR buys Roompot for approximately $1.1 billion Private equity fund KKR has announced that it is acquiring the Dutch vacation park business Roompot Group from French private equity group PAI Partners for a reported $1.1 billion. The second largest v…
Hospitality Financial Leadership – Chapter 8 – The Trial
The chapter below is an excerpt from my new book. It’s fiction but some of the characters and storylines are based on people I have worked with and events that have taken place in the hotels I have worked in. The book is a fable about a hotel manage…
Airbnb CEO: Travel may never be the same
Airbnb co-founder and CEO Brian Chesky told Axios in an interview that global travel may never fully recover, and that he sees a future where people travel much more within their own countries, possibly for longer stays. Driving the news: “I will go…
Utility Players as a Way to Save Hotels on Staffing
The post-COVID recovery will not mirror the initial reactions to the global lockdown for the hospitality industry. Namely, with hotels shutting down and laying employees off in droves, most properties will be reluctant to rehire all those previously…
Re-Negotiating Your Management Agreement: The Owner’s Perspective
COVID-19 introduced the hotel industry to a lot of uncertainties for the future. It also revealed several weak spots and high-risk areas within hotel management agreements (HMA’s). As these weaknesses become more evident, it is important to decide w…
Crisis Management: What Hotels Can Learn From “Friends”
THE ONE WHERE WARNER REGAINS CONTROL “So no one told you life was gonna be this way.” If you (at least, mentally) rhythmically clapped your hands four times after reading this, you’re not alone. According to a Nielsen’s report, in fact, the famous ‘…
Sonder to Raise $200 Million in Funding for Its Hotel and Short-Term Rental Model
Today, we are announcing that we recently closed on a Series E round of $170 million, led by Fidelity, WestCap, and Inovia Capital, which brings Sonder’s valuation to $1.3 billion. In the coming weeks, we expect to raise additional capital from new …
Vacation Rental Management Association Advocates for Safe Travel, Launches Reopening Guidelines
The Vacation Rental Management Association (VRMA) and its subsidiary, the Vacation Rental Housekeeping Professionals (VRHP), have developed recommendations for the reopening of vacation rental properties in light of the COVID-19 pandemic. The guidel…
How To Show The Welcoming Smiles Behind The Masks Of Your Hotel Staff
As part of the hotel and lodging industry’s effort to help guests feel safe about traveling during the current COVID-19 pandemic era, nearly all are requiring hotel staff to wear facemasks. However, one down-side is of course the fact that our colle…
Sevenrooms Raises $50m Series B Round With Providence Strategic Growth
SevenRooms (“the Company”), a fully-integrated, data-driven guest experience platform for the hospitality industry, has raised a $50 million Series B funding round led by Providence Strategic Growth (“PSG”). This latest funding aims to support Seven…