AI Set to Shape the Future of Travel & Tourism, Says WTTC

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New York, U.S. (April 18, 2024): New reports from the World Travel & Tourism Council (WTTC) and Microsoft highlights the transformative power of Artificial Intelligence (AI) and its role in shaping the future of Travel & Tourism. 

The final two reports of a series on Artificial Intelligence from WTTC entitled “Responsible Artificial Intelligence (AI): Overview of AI Risks, Safety & Governance” and “Artificial Intelligence (AI): Global Strategies, Policies & Regulations,” underscore a commitment to a digital future that prioritizes safety, ethical considerations, and responsible AI adoption.

Launched during the global tourism body’s participation at the UN General Assembly in New York, these reports mark significant milestones in WTTC’s mission to promote innovation and excellence in customer experiences through the safe and trustworthy integration of AI.

“Responsible Artificial Intelligence (AI)” delves into the potential risks associated with AI deployment and offers strategies for establishing frameworks that promote transparency, accountability, and fairness. 

From addressing bias and discrimination to ensuring human oversight of AI systems, this report empowers organizations to harness the power of AI responsibly.

In the fourth and final installment, “Artificial Intelligence (AI): Global Strategies, Policies & Regulations,” WTTC provides a detailed overview of the AI ecosystem across key countries and international organizations. 

It shows how policymakers are navigating the AI landscape and shaping regulations and strategies to foster AI innovation, while ensuring its ethical and responsible use.

Julia Simpson, WTTC President & CEO, said: “In a rapidly evolving landscape, AI emerges as a catalyst for positive change. The insights provided in these reports demonstrate that AI is not just a technological advancement; it is a strategic tool that can personalize customer experiences, drive sustainable improvements, and shape the future of Travel & Tourism.

“AI is already being used across our sector with incredible results. Several major hotel groups including Iberostar are using AI to monitor and reduce food waste, which recently resulted not only in a 27% cost saving but prevented thousands of kilos of unwanted food going to landfill. “ 

Julie Shainock, Managing Director, Travel, Transport, & Logistics Industry for Microsoft said: “We are seeing AI being embraced across the entire travel eco-system enhancing the customer experience, the employee experience and also driving more efficiency in operations, but we know we are only at the beginning of the journey.

“We are excited to see what the future holds as AI becomes more widely adopted to automate the more mundane tasks of travel and harness the true spirit of travel, to elevate the human experience.”

According to WTTC, AI has the power to revolutionize how businesses in the Travel & Tourism sector operate, offering immense opportunities for growth and innovation.

Both reports underscore the urgent need for Travel & Tourism businesses to embrace AI as a strategic priority, investing in talent and fostering collaboration between humans and AI. 

But despite the sector’s increasing recognition of AI’s potential, challenges such as AI-skilled workforce shortages in the Travel & Tourism sector persist, highlighting the importance of proactive measures to overcome barriers to adoption.

As AI continues to reshape the world, WTTC remains at the forefront, advocating for safe, ethical, and inclusive AI innovation. 

To access these reports, please visit WTTC’s Research Hub

Featured Articles

Davidson Hospitality Group Celebrates Growth with Multiple Promotions

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Accomplished leaders across organization promoted to elevated roles

ATLANTA, April 17, 2024 /PRNewswire/ — Award-winning hospitality management company Davidson Hospitality Group announces promotions of several leaders across the Company as part of Davidson’s long-term growth plan.

“It’s always special when we can announce the career progression of our team members,” said Thom Geshay, CEO & President. “Supporting our growth by promoting team members from within is the life blood of our company. A critical factor in our industry leading team member engagement and low turnover is our team-first philosophy of not just being a place to work, but a company where you can advance your career. It’s the key ingredient to our culture.”

Steve Margol, Davidson’s Chief Investment Officer, will transition to Executive Chairman, effective January 1, 2025, coinciding with the transition of Davidson’s current Executive Chairman and former CEO, John Belden, to Chairman Emeritus at the end of 2024.

In his role as Executive Chairman, Margol will focus on the successful launch of Davidson’s strategic growth plan, working alongside Davidson executive leadership and ownership, and will continue to provide strategic oversight and guidance to both the Company and the acquisitions and business development effort with Jason Rabidoux overseeing day to day leadership of the team.

Jason Rabidoux, previously Senior Vice President within the Acquisitions and Business Development team, has been promoted to Executive Vice President of Acquisitions and Business Development. Since joining the Davidson family in 2013, Rabidoux has played an integral role in the growth of Davidson’s portfolio of hotels and resorts. Under his leadership, the portfolio has grown by more than 50 hotels and resorts, with the team directly involved in over $2B in real estate acquisitions alongside Davidson’s public and private partners.

Josie Strang, who joined Davidson in 2018 as a financial analyst on the Acquisitions and Business Development team, has been promoted to Vice President. During her time with Davidson, Strang has made numerous valuable contributions and has been a strong collaborator and leader on many acquisitions and transitions. In her new role, she will take on greater responsibility for new management and acquisition opportunities and will help to develop junior members of the team.

Paul Eckert, who joined as Senior Vice President of Operations, has been promoted to Executive Vice President of Operations, overseeing a portfolio of complex assets. In just over three years with Davidson, Eckert has demonstrated a superior ability to drive performance and build strong teams. In his new role, Eckert will focus on shaping and strengthening teams and processes for exceptional results within his portfolio.

Lucas Laidlaw, previously Regional Director of Operations, has been promoted to Regional Vice President of Operations, working within the portfolio led by Paul Eckert. Since joining Davidson in 2021, Laidlaw has driven exceptional results for the collective balanced scorecard and has spearheaded the implementation of Davidson’s operational playbook within his region, a critical tool leading to superior operational execution. As Regional Vice President, he will be directly responsible for results within his portfolio and will be joining the Curator Hotels & Resorts board.

Thomas Fraher, formerly Area Vice President of Operations for the Florida region within Davidson Resorts, has been promoted to Regional Vice President of Operations and will oversee the eastern region within Davidson Resorts. In his new role, Fraher is responsible for guiding the operation of multiple complex resorts in the Eastern United States.

Today’s promotions exemplify Davidson’s focus on team member development and long-term strategic thinking, both of which are critical to Davidson being not just the leading hospitality management company, but one of the most sought after employers in the industry.

About Davidson Hospitality Group
Celebrating its 50th anniversary in 2024, Davidson Hospitality Group is an award-winning, full-service hospitality management company comprised of 86 existing hotels and resorts; more than 200 restaurants, bars, and lounges; and over 2 million square feet of meeting space across the United States. A trusted partner and preferred operator for Marriott, Hilton, Hyatt, Kimpton, Margaritaville, and Nobu, Davidson offers a unique entrepreneurial management style and owners’ mentality that provides the individualized personal service of a small company, enhanced by the breadth and depth of skill and experience of a larger company. In keeping with the company’s heritage of delivering value, Davidson Hospitality Group is comprised of four highly specialized operating verticals: Davidson Hotels, Pivot, Davidson Resorts and Davidson Restaurant Group. In 2023, Davidson Hospitality Group was ranked #1 in Guest Satisfaction among Third-Party Hotel Management Companies by J.D. Power for the second consecutive year. For more information, visit www.davidsonhospitality.com. Follow us on Instagram: @davidsonhospitality and X: @DavidsonHospGrp. Like us on Facebook: @DavidsonHospitalityGroup. Connect with us on LinkedIn: @DavidsonHospitalityGroup. #DavidsonHospitality

SOURCE Davidson Hospitality Group

Featured Articles

4.16 $140 Million Reinvention of Caribe Royale Orlando

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Amaury Piedra, Managing Director of Caribe Royale Orlando shares the secret behind a massive $140 million property reinvention that reinvented an aging hotel into a four-star jewel! FYI, when I visited they had 98% occupancy at rates they’d never get before this project.

Featured Articles

Nobu Hospitality Achieves Milestone: Unveiling the 40th Hotel

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Nobu’s Second Hotel in Vietnam Set to Open in Ho Chi Minh

Nobu Hotel & Restaurant Ho Chi Minh

NEW YORK, April 16, 2024 /PRNewswire/ — In an ongoing collaboration with Viet Capital Real Estate (VCRE) and Nobu Hospitality, the leading luxury lifestyle and iconic hotel, dining, and residence brand, announces the upcoming Nobu Hotel and Restaurant Ho Chi Minh. This marks the brand’s 40th hotel and second opening in Vietnam, following the announcement of Nobu Hotel, Restaurant, and Residences Danang – the first Nobu residential project in Southeast Asia.

Nobu Hotel, Restaurant and Residences Danang

Positioned in the heart of Ho Chi Minh’s historic District 1, Nobu Ho Chi Minh Hotel and Restaurant connects directly to prominent landmarks, shopping, dining and entertainment complexes of the city. The impressive 40-story mixed-use complex, currently under construction, will encompass Class A office space and the Nobu Hotel and Restaurant. The hotel, situated on the upper floors, will feature 135 well-appointed guest rooms and suites, a rooftop swimming pool, a state-of-the-art fitness facility, and the renowned Nobu restaurant on the 7th floor. Set to open its doors in 2026, the tower will provide breathtaking views of the city and the Saigon River. Additionally, VCRE is also making significant progress on the Nobu Hotel, Restaurant, and Residences project in Danang.

Trevor Horwell, CEO of Nobu Hospitality states, “We are thrilled to announce our second property in Vietnam and are eager to deepen our partnership with VCRE as we introduce Nobu Hotel and restaurant Ho Chi Minh, alongside our previously announced Nobu Hotel and Residences Danang – our inaugural residences in Asia. We are celebrating our 40th hotel, and we extend our heartfelt gratitude for the unwavering support and trust of our teams and partners. Together, we’ve achieved this remarkable milestone.“

Vo Thanh Lam, Chief Executive Officer of Viet Capital Real Estate, adds, “Nobu Hotel and Restaurant Ho Chi Minh once again marks the sustainable cooperation between VCRE and Nobu Hospitality after announcing the Nobu Danang project in 2023. Nobu Hospitality has become a global lifestyle icon, bringing unique architecture and innovative cuisine when Nobu appears in any city around the world. Coming to Ho Chi Minh – an economic and dynamic city with enormous potential – VCRE believes that Nobu Hotel and Restaurant Ho Chi Minh is the perfect destination, offering elite-level hotel and culinary experiences.“

The Nobu group has experienced tremendous growth since its inception in 1994, expanding to a portfolio that includes 40 hotels, 76 restaurants, and 12 residences.

SOURCE Nobu Hospitality

Featured Articles

Wyndham Brings Rewards to its Business Program, Simplifies Travel for Businesses of All Sizes

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Comprehensive program offers points on qualified business spend, employee status gifting, a minimum 10% room discount, easy direct billing, instant group bookings and more

For a limited time, businesses can earn a future free hotel night when they join  Wyndham Rewards Business and complete a qualified stay by June 30

PARSIPPANY, N.J., April 16, 2024 /PRNewswire/ — Whether you’re a startup looking to maximize travel budgets, a travel manager wanting to recognize employees, or a construction foreman needing a last-minute, multi-week group booking—managing your company’s travel needs is now easier than ever thanks to Wyndham and its newly expanded, free-to-join, Wyndham Business program.

Designed for businesses of all types and sizes, the program is anchored by the all-new Wyndham Rewards® Business, a B2B extension of Wyndham’s top-rated rewards program known for both its simplicity and generosity. Starting today, enrolled companies can now earn points on qualified business stays while continuing to take advantage of a range of existing, and in many cases newly enhanced, benefits including room discounts, direct billing, hands-on account support and more.

Interested businesses can easily join the program by visiting WyndhamBusiness.com and clicking the “Join Now” button on the upper right corner of the website.

“Managing a business is complicated enough—managing employee travel shouldn’t be. Whether you’re a small startup or an established, household name, Wyndham Business makes it easy to access the tools you need so you can get back to what matters most—your business.”

– Angie Gadwood, SVP, Global Sales, Wyndham Hotels & Resorts

Wyndham’s continued investment in its business platform is the latest in a series of efforts designed to drive more direct business to its franchisees and comes amid positive growth trends for both traditional and non-traditional business travel. According to GBTA, two-thirds of travel buyers are anticipating higher spend in 2024, while in the U.S., historic infrastructure spend of ~$1.5 trillion is driving a multi-year travel boom that’s expected to deliver a $3.3 billion revenue opportunity for Wyndham franchisees over the next decade.

Making Business Travel More Rewarding
At the heart of Wyndham Business is the all-new Wyndham Rewards Business, offering exclusive perks for businesses of all sizes and kinds, no matter their travel frequency. Simple and generous, employers can gift Wyndham Rewards Gold membership to up to three employees annually while earning one point per dollar on all qualifying spend—all with no limit on the amount of points they can earn. Best of all, company earned points are in addition to any points earned by their business travelers through normal membership and can be used to offset upcoming travel costs in the form of free or discounted hotel nights or for internal recognition.

Complementing Wyndham Rewards Business is the award-winning Wyndham Rewards Earner® Business Card, which when combined with the program, allows small businesses to supercharge their point earning capabilities. In addition to standout perks like 8x points on eligible hotel and gas purchases and complimentary Diamond membership, new card holders can unlock an unprecedented 100,000 bonus points after just $15,000 in annual spend. The promotion is available for a limited time and full terms and conditions can be found at WyndhamRewardsCreditCard.com.

Business Travel Your Way
Wyndham Business, along with the added benefits of Wyndham Rewards Business, simplifies and streamlines the management of business travel, all while elevating the travel experience with rich rewards. Available exclusively at the newly re-imagined WyndhamBusiness.com, combined, top benefits across the two offerings include:

  • •  Unmatched Breadth and Scale
    With approximately 9,200 locations and counting—guests have options no matter where their work takes them, from budget-friendly roadside hotels to spectacular resorts with robust meeting spaces.

  • •  Guaranteed Savings and Perks
    Now save a minimum 10% or more based on account type, spend and length of stay. Travel Advisor? Save up to 40% on personal bookings when you complete our online training course and receive a 10% commission on qualified business bookings. (Full terms and conditions available at WyndhamBusiness.com.)

  • •  Industry Leading Rewards
    Built on the industry’s #1 hotel rewards program, Wyndham Rewards, earn one point per dollar on all qualifying spend with no limit on how many points you can earn.

  • •  Easy Point Management
    Upon enrollment in Wyndham Rewards Business, receive a dedicated account, making it easy to track and redeem for rewards including free and discounted nights, gift cards and more.

  • •  Membership Upgrades
    Gift Wyndham Rewards Gold Membership to up to three employees annually, allowing them to unlock perks like a preferred room, late checkout and accelerated points earning.

  • •  Streamlined Billing with Wyndham Direct®
    Newly enhanced, bill rooms to your corporate account and pay via one single monthly invoice. Applying is now simpler than ever with many accounts receiving financial approval in seconds.

  • •  Instant Group Bookings
    Need to book 10 or more rooms and fast? Leverage Wyndham’s relationship with Groups360 to instantly book at over 5,600 by Wyndham branded hotels at discounted, pre-negotiated rates.

  • •  Personalized Support
    Establish a Wyndham Business account and receive hands-on support from a team of dedicated Sales professionals who understand and anticipate your needs.

Earn a Free Night with One Stay
Wyndham Business, as well as Wyndham Rewards Business, is currently live with all tools and resources available today. To take advantage of all offerings, users must enroll in both Wyndham Business and Wyndham Rewards Business. For a limited time, businesses can earn 7,500 Wyndham Rewards bonus points—enough for a free night at thousands of Wyndham hotels worldwide—when they join Wyndham Rewards Business and complete a qualifying stay by June 30, 2024. For more information, including full terms and conditions or to join, visit WyndhamBusiness.com.

About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with approximately 9,200 hotels across over 95 countries on six continents. Through its network of approximately 872,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in the economy and midscale segments of the lodging industry. The Company operates a portfolio of 25 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. The Company’s award-winning Wyndham Rewards loyalty program offers over 106 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit www.wyndhamhotels.com.

SOURCE Wyndham Hotels & Resorts

Featured Articles

AHLA Interim President/CEO Kevin Carey!

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Get to know AHLA Interim President/CEO Kevin Carey! Kevin makes his first appearance with us so we get an update on the direction of the AHLA, its leadership search and how the organization is doubling down on sustainability with its partnership in Green Key Global.

Featured Articles

12 DISTINCTLY DIFFERENT PROPERTIES TO JOIN IHG HOTELS & RESORTS’ VIGNETTE COLLECTION IN 2024

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WINDSOR, UK, APRIL 2024: IHG Hotels & Resorts is celebrating the launch of its inaugural Vignette Collection hotel in the UK. The Halyard Liverpool, Vignette Collection is the first of 12 properties around the world expected to join IHG’s newest luxury & lifestyle brand in 2024.

Vignette Collection is a curation of distinct hand-picked hotels, each offering one-of-a-kind stays from boutique townhouses in city centres to blissful beachfront resorts with a difference. Further openings this year include Shanghai Snow World Hotel coming to the world’s biggest alpine-themed indoor ski park, Verno House  a 50-room urban oasis overlooking Liberty Square in Budapest and Arabella Beach Hotel in Kuwait, prominently positioned between desert dunes and the Arabian Gulf shoreline.

Tom Rowntree, Vice President of Luxury & Lifestyle Brands at IHG Hotels & Resorts, said: “Vignette Collection is a unique portfolio of individual hotels and resorts, each with their own story to tell. This year, we are making significant strides towards our ambition to open 100 new Vignette Collection properties within the next 10 years. From indoor skiing in Shanghai to soaking up the cool culture in Liverpool, 2024 will see an exciting array of unique hotels and resorts joining Vignette Collection.”

IHG Hotels & Resorts unveiled the Vignette Collection brand in August 2021. The first property, Hotel X Brisbane Fortitude Valley, opened in December that year. There are now 11 Vignette Collection hotels open around the world* and a further 23 in the pipeline**. Vignette Collection is grounded in individuality, intrigue, and experience whilst its properties are united by a commitment to offer a more responsible way to travel.

As part of IHG’s ambitious Journey to Tomorrow plan to drive positive change for people, planet and communities, each Vignette Collection hotel has its own “A Means For Good”. This unifying hallmark sees properties partner with a local non-profit organisation to spearhead positive contributions to the communities in which it operates. Examples include TH8 Palm Dubai Beach Resort’s work to repurpose and recycle its waste oyster shells to support the Dibba Bay Oyster Reef Creation Project, whilst Sindhorn Midtown Hotel Bangkok is providing young people in under-resourced areas of the city with internship opportunities to promote a brighter future.

Another hallmark, Memorable Rituals connect guests with the hotel’s cultural landscape through purposeful and meaningful travel encounters. One expression at Convent Square Lisbon pays homage to Portugal’s heritage as the nation to bring tea to Europe. Guests are invited to infuse their own daily blend in the hotel’s emblematic cloister. At Yours Truly DC in Washington guests can spin the soundtrack to their stay from records borrowed from the hotel’s lobby library and played on the in-room turntable.

Tom Rowntree continues: “Vignette Collection stands apart in IHG Hotels & Resorts’ luxury & lifestyle portfolio. It presents a compelling way for IHG to welcome one-of-a-kind hotels into our family, combining each property’s individual identity with the brand’s promise of ‘A Means For Good’, powered by IHG’s global scale and IHG One Rewards loyalty program. Each hotel has a distinct outlook and story to tell but they come together as Vignette Collection.”

 

Vignette Collection will also welcome a further four properties to its China portfolio in 2024:

  • •  Heibei Grand Hotel
  • •  Hangzhou Huaxia Center Hotel
  • •  The Xanadu Guangzhou
  • •  WM Hotel

Best-in-class loyalty program, IHG One Rewards, provides guests of Vignette Collection hotels and the wider IHG portfolio with more ways to earn than ever before, including richer benefits tailored to their needs, all powered by leading technology on its new mobile app.

Strategic acquisitions and new brand launches over the past five years have transformed IHG’s portfolio from 1 to 6 brands, spanning 499 properties and some 114,570 rooms in 80 countries. This is around twice the size it was five years earlier and represents 14% of IHG’s total system size and 22% of its pipeline (357 properties, 65,000 rooms), with signings growing by 33% year on year. Other IHG luxury & lifestyle brands include Six Senses, Regent Hotels & Resorts, InterContinental Hotels & Resorts, Kimpton Hotels & Restaurants, and Hotel Indigo.

New openings in 2024 will join the existing Vignette Collection portfolio of 11 open hotels around the world including Yours Truly DC, Vignette Collection in the U.S., Hotel X Brisbane Fortitude Valley, Vignette Collection in Australia, Sindhorn Midtown Hotel Bangkok, Vignette Collection in Thailand, Casa da Companhia, Vignette Collection and Convent Square Lisbon, Vignette Collection in Portugal.

*Numbers as of 31 December 2023

**Pipeline includes 5 unbranded properties in the IHG system that will convert to Vignette Collection

 

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IHG Hotels & Resorts and NOVUM Hospitality sign agreement that doubles IHG’s hotel presence in Germany, launches Holiday Inn – the niu collaboration, and debuts Garner and Candlewood Suites brands

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IHG Hotels & Resorts (IHG) and NOVUM Hospitality announce a long-term agreement that will double IHG’s presence in Germany to more than 200 hotels in almost 100 cities through an exciting Holiday Inn – the niu brand collaboration and European debuts for IHG’s Garner and Candlewood Suites brands.

 

The agreement with NOVUM Hospitality, one of Germany’s largest private hotel operators, owned by David Etmenan, will make IHG one of the leading players in midscale and upper midscale, and includes the following key elements:

  • •  Up to 108 NOVUM Hospitality otpen hotels (15,334 rooms) and 11 hotels under development (2,369 rooms) are expected to join IHG’s system between 2024 and 2028. Conversion of the hotels to IHG’s system will happen in phases beginning in 2024, with the majority to take place over the next 24 months. This will increase IHG’s global system size by up to 1.9% over the coming years.
  • •  A total of 52 open and pipeline hotels will join IHG through a distinctive collaboration between Holiday Inn and the niu, NOVUM Hospitality’s stylish, flagship upper midscale brand. This will combine the domestic presence of the niu with Holiday Inn’s trusted reputation and global brand recognition to build a leading position in a key target market. NOVUM Hospitality’s other brands, Yggotel, Select and Novum with 56 open and pipeline hotels will convert to IHG’s new midscale conversion brand, Garner, and the acora Living the City brand with 11 open and pipeline hotels will convert to IHG’s midscale extended stay brand, Candlewood Suites.
  • •  Under the agreement, IHG will receive franchise fees after the phased conversion of existing properties and upon the opening of the hotels under development. Additionally, standard assessments will be received into IHG’s System Fund, including those to cover the operation of IHG One Rewards, and marketing and reservation services. IHG will contribute key money capital expenditure that will reflect the phased conversion and timing of openings of this major portfolio of hotels.
  • •  The agreement includes an exclusivity arrangement for future NOVUM Hospitality hotels to join IHG’s leading brands and enterprise system, with an ambition to jointly develop further hotels over time.
  • The agreement has a term of 30 years and the option to renew for additional terms.

A total of 111 NOVUM Hospitality properties are in Germany, with the remaining eight in Austria, the Netherlands and the UK. Germany is one of Europe’s largest hotel markets, with strong domestic consumption, inbound and outbound travel. In 2022, there were over 450 million overnight stays in Germany, the second highest in Europe, and the country generated the highest number of international outbound travellers globally, around 100 million.

IHG’s growth in Germany will be supported by continued investment in building localised commercial platforms, such as the recent introduction of loyalty partnerships and improved booking systems. IHG expects its increased scale to bring significant benefits to NOVUM Hospitality and other IHG owners, including higher brand awareness, direct bookings and loyalty engagement, to capture both domestic demand and German outbound business. It will also drive the development of IHG’s brands across more locations.

NOVUM Hospitality will adopt IHG brands and systems for this entire portfolio, becoming one of IHG’s largest franchisees globally, with access to IHG’s powerful commercial engine and technology platforms to drive hotel performance, efficient hotel operations and customer experience.

Elie Maalouf, Chief Executive Officer, IHG Hotels & Resorts, said:

“We are delighted to collaborate with such a respected group as NOVUM Hospitality and double IHG’s presence in Germany, one of Europe’s largest hotel markets and a growth priority for our business. This agreement demonstrates the appeal to owners of our powerful enterprise and IHG’s success in attracting excellent conversion opportunities to grow our system size. It also creates a strong domestic German platform to increase demand and brand awareness, as well as capture a larger share of the millions of outbound trips made each year across Europe and beyond.

We’re excited to bring a modern, bold and dynamic experience to market with our Holiday Inn – the niu collaboration, which pairs our world-famous Holiday Inn brand with a high-quality local brand that has an excellent, largely newly-built estate. Equally, bringing Garner to Europe in such a critical market as Germany is a great moment, as is taking Candlewood Suites outside of the Americas for the first time. Both IHG and NOVUM Hospitality share a deep commitment to true hospitality, quality and growth, and we look forward to expanding together in the years to come.”

David Etmenan, Chief Executive Officer and Owner, NOVUM Hospitality, commented:

“Partnering with IHG, one of the world’s leading hotel companies, equips our family-run business with the firepower needed to fortify our market presence across Europe. This collaboration enables us to concentrate on delivering exceptional hotel experiences while leveraging the globally acclaimed brand recognition of IHG. Forging a co-brand between the niu and Holiday Inn sees two perfectly complementary brands come together, enhancing our appeal to guests on a global scale. Accessing IHG’s state-of-the-art global distribution network provides us with enhanced sales and revenue capabilities, ensuring sustained commercial success while retaining full flexibility and independence for NOVUM Hospitality, as the company remains in our ownership entirely.

Beyond the strategic advantages, the alignment of our values and principles throughout the negotiation process with IHG underscores the compatibility of our alliance. We deeply value the respect and consideration accorded to our the niu brand and eagerly anticipate the promising future that lies ahead in our joint endeavours.”

Further brand details:

  • •  Holiday Inn is an award-winning icon, voted the most trusted hotel brand in US travel. Providing leisure guests, business travellers and families with great places to stay since 1952, Holiday Inn has over 1,200 hotels globally and a further 250 properties in its pipeline.
  • •  Holiday Inn – the niu is a collaboration anchored in distinctive design and memorable hospitality. Already renowned for its commitment to neighbourly service and individually designed hotels inspired by their location, urban art and pop-culture, the niu is a fresh brand with a strong reputation. Combining it with Holiday Inn, alongside the award-winning IHG One Rewards loyalty programme and IHG’s powerful enterprise platform, will further elevate the stay experience, grow market share by reaching new leisure and business guests, and accelerate expansion into new locations.
  • •  The first US Garner hotel opened in Seattle in late 2023 within three months of the brand being franchise-ready, and it has since launched in Japan, Mexico and Canada. With today’s announcement, Garner is now franchise ready across IHG’s Europe, Middle East, Asia and Africa (EMEAA) region. Garner is designed for travellers of all ages seeking a reliable, relaxed experience at an affordable price. It is becoming the leading choice for guests wanting great value stays at high‑quality properties, and for owners seeking higher returns in the midscale space. IHG expects Garner to reach over 500 open hotels in the next 10 years and 1,000 hotels in the next 20 years in the US alone.
  • •  Candlewood Suites is IHG’s midscale extended stay brand, providing a casual and friendly environment with everything guests need to live, work and relax while away from home. For over 25 years, the brand has provided great value for guests, while also allowing owners to benefit from a highly efficient operating model. Candlewood Suites has a combined open and pipeline estate of over 520 hotels across the Americas.

About IHG Hotels & Resorts
IHG Hotels & Resorts [LON:IHG, NYSE:IHG (ADRs)] is a global hospitality company, with a purpose to
provide True Hospitality for Good.

With a family of 19 hotel brands and IHG One Rewards, one of the world’s largest hotel loyalty
programmes, IHG has over 6,300 open hotels in more than 100 countries, and a development pipeline
of over 2,000 properties.
– Luxury & Lifestyle: Six Senses Hotels Resorts Spas, Regent Hotels & Resorts, InterContinental
Hotels & Resorts, Vignette Collection, Kimpton Hotels & Restaurants, Hotel Indigo
– Premium: voco hotels, HUALUXE Hotels & Resorts, Crowne Plaza Hotels & Resorts, EVEN
Hotels
– Essentials: Holiday Inn Express, Holiday Inn Hotels & Resorts, Garner hotels, avid hotels
– Suites: Atwell Suites, Staybridge Suites, Holiday Inn Club Vacations, Candlewood Suites
– Exclusive Partners: Iberostar Beachfront Resorts

InterContinental Hotels Group PLC is the Group’s holding company and is incorporated and registered
in England and Wales. Approximately 345,000 people work across IHG’s hotels and corporate offices
globally.

Visit us online for more about our hotels and reservations and IHG One Rewards. To download the
IHG One Rewards app, visit the Apple App or Google Play stores.

For our latest news, visit our Newsroom and follow us on LinkedIn.

About NOVUM Hospitality
With a distinguished portfolio of over 150 hotels (incl. secured pipeline), encompassing more than
20,000 rooms across 60 premier locations throughout Europe, NOVUM Hospitality is ranked among the biggest family-run hotel groups in Germany. Founded in 1988 and geared for growth since 2004,
NOVUM Hospitality has been successfully expanding under the visionary leadership of Chief Executive
Officer & Owner, David Etmenan. The hotel portfolio comprises midscale and upper midscale hotels in
central locations run under acclaimed brands such as the niu, Select Hotels, Novum Hotels, Yggotel
and acora Living the City. Additionally, NOVUM Hospitality proudly serves as a franchisee for
InterContinental Hotels Group, Accor, and Hilton. The renowned Treugast Investment Ranking, an
annual assessment of the foremost hotel companies in Germany, awards NOVUM Hospitality with an

‘A’ rating, underscoring their commitment to excellence and industry leadership. www.novum-
hospitality.com

Featured Articles

BRUCE SMITH ENTERPRISE AND THE CORDISH COMPANIES PARTNER ON PROPOSAL TO CODEVELOP $1.4 BILLION TRANSFORMATIVE MIXED-USE DEVELOPMENT IN PETERSBURG, VIRGINIA

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Live! Gaming & Entertainment District, Anchored by Live! Casino & Hotel Virginia, Will Set a New Standard for Development in the Commonwealth, Create Thousands of Jobs, Increase Tourism and Generate Billions in Economic Benefits

Plans for the Proposed Project Include Quickly Opening an Initial First Phase Casino to Immediately Begin Creating Jobs, Vendor Opportunities and Economic Benefits for the City

Joint Venture Represents a First-of-its-Kind Development Partnership in the Gaming & Entertainment Industry

PETERSBURG, Va., April 15, 2024 /PRNewswire/ — Bruce Smith Enterprise and The Cordish Companies have responded to a request for proposal issued by the City of Petersburg, Virginia with plans to codevelop a $1.4 billion Live! Gaming & Entertainment District, anchored by Live! Casino & Hotel Virginia. The proposed project will generate billions of dollars in economic benefits and spinoff development, create thousands of new jobs and benefits to the local community, and become a major new tourist destination for the City and the Central Virginia region.

The proposed site is ideally situated at the intersection of Wagner Road and Interstate I-95 with easy access on and off the East Coast’s major north-south interstate, making it the premier location in the Commonwealth. The partners also intend to quickly open an initial first phase casino within a year to begin creating jobs, vendor opportunities and economic benefits immediately for the City of Petersburg and its residents.

Bruce Smith Enterprise and The Cordish Companies’ longstanding relationship dates back to 2008, and most recently the team has partnered to bring a world-class casino resort destination to the Commonwealth. The joint venture partnership is the first-of-its-kind in the gaming and entertainment industry to have a minority-owned business enterprise as co-development partner.

The Petersburg ownership team, which makes up 50% minority equity participation, will become the largest minority ownership opportunity in the gaming and hospitality industry in the country, and will become a model for other projects in Virginia and throughout the nation. The team includes substantial investment from prominent minority businesses and individuals with a long history of residing, working, and investing in the Commonwealth including former Cox Communications GM and philanthropist Gary McCollum, former Philadelphia Eagle and University of Virginia All-American receiver Billy McMullen, and the Reynolds Family, founding family of Reynolds Metals.

Bruce Smith Enterprise, led by legendary NFL Hall of Fame member and Virginia native Bruce Smith, is a commercial real estate firm that specializes in the development of premier mixed-use projects. Headquartered in Virginia Beach, VA, the company has developed notable properties throughout the state and the Mid-Atlantic region that feature the cohesive and seamless integration of residential, hotel, Class A office, and retail space. Since retiring from professional football in 2004 after a prolific 19-year career, the NFL’s All-Time Sack Leader has endeavored to bring the same level of unparalleled excellence, diligence, and leadership that he honed as a veteran on the field to the management of Bruce Smith Enterprise. The successful development of timeless mixed-use properties that survive and withstand trends of the marketplace, strengthen, and invigorate the local economy and create jobs are core values of Bruce Smith Enterprise’s primary mission.

Bruce Smith Enterprise has flourished since its inception in 2004, partnering with Armada Hoffler in the development of the Mandarin Oriental Hotel, The Swedish Embassy, Harbourside Office Building in Washington, D.C., and Blocks 7 and 10 in The Town Center of Virginia Beach, VA. Bruce Smith Enterprise’s portfolio also includes the Hilton Garden Inn and Smith’s Landing apartment community in Blacksburg, VA – a project built to service the needs of students, alumni, and their families at Smith’s Virginia Tech alma mater – as well as the Hyatt House Hotel and 27 Atlantic Apartments in Virginia Beach.

“I love Virginia. I was born and raised here. I attended VA Tech as a student athlete here, and after retiring from the NFL, I returned home with the inspiration and determination to help make it a more advantageous and prosperous place to live,” stated Bruce Smith, Pro Football Hall of Famer, Prominent Virginian Developer and Community Leader. “I have spent significant time in Petersburg talking with students and the community at large. I’ve had the opportunity to hear first-hand their stories of hardship, and I understand the struggle and the enormous challenges they face. Working as a developer in the state for over 20 years, I’m confident that Bruce Smith Enterprise and The Cordish Companies are the right partners for this undertaking, because we share the same vision and understand the needs of the City of Petersburg and its citizens. Together we can do remarkable work in Petersburg that will transform lives, restore hope, and ultimately imbue a new energy of revitalization that will be felt for generations. Our proposal represents a historic opportunity to prioritize the Petersburg community and put Virginians first.”

The Cordish Companies is one of the largest, most respected developer-operators of upscale mixed-use, entertainment and casino resort destinations in the United States. For over a century, The Cordish Companies has built a portfolio of world-class destinations and projects that span across several platforms including casino resorts, restaurants, hotels, sports-anchored entertainment districts, mixed-use developments, concert venues, luxury residential communities, coworking spaces, and more. The Company’s Live! brand has dramatically changed the hospitality and entertainment experience nationwide, surpassing 55 million visitors last year to its destinations, many of which have played a major role in the rebirth of the cities in which they are located. This transformational effect has earned the Company an unprecedented seven Urban Land Institute Awards for Excellence in recognition of its urban revitalization accomplishments, more than any other developer in the world.

In gaming, The Cordish Companies has developed the most successful casino entertainment resorts in the U.S. including the Hard Rock Hotel & Casino Hollywood, FL; the Hard Rock Hotel & Casino Tampa, FL; Live! Casino & Hotel Maryland; Live! Casino & Hotel Philadelphia and Live! Casino Pittsburgh. The Company is currently under construction on Live! Casino & Hotel Louisiana – the first land-based casino in the Shreveport-Bossier market – scheduled to open in 2025.

“We are incredibly proud to join Bruce Smith and his team to present our vision for a transformational, world-class destination in Petersburg,” said Zed Smith, Chief Operating Officer for The Cordish Companies. “As our development partner, Bruce shares our core values in investing for the long-term and creating jobs and opportunities for the community. No one comes close to our combined history of success and capabilities to be able to deliver a destination of this scale and complexity. The Cordish Companies’ track record for designing, financing, building, and operating large-scale mixed-use developments and casino resort destinations in the country is unmatched. Our success includes achieving every commitment, program, and goal in our proposals for cities across the country. We are committed to excellence, creating unforgettable experiences for our guests, and treating our team members and communities like family.”

The Project

The Live! Gaming & Entertainment District – anchored by Live! Casino & Hotel Virginia – will be a catalyst for change and significant urban development, transforming the City through the creation of a thriving entertainment and hospitality destination. Live! Casino & Hotel Virginia will set a new standard for gaming, hotels, and entertainment in the Commonwealth, and serve as a new world-class attraction for Petersburg and the greater Central Virginia region. In its first 10 years, Live! Casino & Hotel will generate:

  • •  $2.8 billion in economic stimulus to the Region
  • •  $504 million in tax revenues including $240 million to the City of Petersburg
  • •  $802 million in economic benefits during construction
  • •  $201 million in annual economic benefits each year after opening
  • •  Over 7,500 new construction and permanent jobs

Upon completion, the world-class Live! Casino & Hotel Virginia resort destination will feature:

  • •  More than 400,000 square feet of first-class gaming, hotel and dining space
  • •  35,000 square feet of meeting and convention space
  • •  An upscale 200-room hotel featuring 20 suites, resort pool and fitness center
  • •  1,600 state-of-the-art slot machines
  • •  46 live action table games, including a 15-table poker room
  • •  High limit slot and table areas and a sportsbook
  • •  A 3,000-seat state-of-the-art entertainment venue for top talent from across Virginia and the greater region, as well as for meetings, conventions and social gatherings
  • •  8 best-in-class food and entertainment options, including 3 spaces that will be reserved for local Petersburg restauranteurs and businesses
  • •  Free surface parking

Plans for the proposed project include quickly opening an initial first phase casino within a year to immediately begin creating jobs, vendor opportunities and economic benefits for the city. The initial phase will feature:

  • •  1,000 state-of-the-art slot machines
  • •  23 live action table games
  • •  A dedicated 15 table poker room
  • •  Casino bar and casual restaurant
  • •  Over 1,500 free guest and team member parking spots

Job Creation

Live! is an economic engine in communities where its properties are located and places a high priority on hiring local residents. Live! Casino & Hotel Virginia is committed to making the same impact with the creation of 7,500 new jobs including 6,000 construction jobs and 1,500 new living-wage jobs averaging $70,000 in annual compensation with life enhancing benefits and career mobility.

Job opportunities will be available in every field, including hotel operations, finance, marketing, human resources, information technologies, food and beverage, facilities, security and surveillance, and casino operations. Live! will partner with local educational institutions to provide training programs for jobs within the complex, including gaming and hospitality positions. The partnership is committed to creating a diverse and inclusive workforce. Local residents will have ample opportunities to learn about jobs at Live! Casino & Hotel Virginia through programs such as:

  • •  Pre-opening community-based job fairs
  • •  Local job placement workshops
  • •  Online job postings, job matching and customized recruitment services
  • •  Contractor mentoring and apprenticeships
  • •  Community-based information sessions on job opportunities and training programs
  • •  Community College and University partnerships for job placement

Substantial Vendor Opportunities

Live! Casino & Hotel Virginia will purchase tens of millions of dollars in goods and services in the region. As recognized leaders in community outreach with unparalleled track records of supporting local and regional businesses, Bruce Smith Enterprise and The Cordish Companies are committed to ensuring contract opportunities for local, MBE/WBE, and veteran-owned companies. The following are some of the categories of goods and services to be purchased:

  • •  Gaming Operations
  • •  Hotel Operations
  • •  Furniture, Fixtures and Equipment
  • •  Engineering, Facilities and Maintenance
  • •  Food and Beverage
  • •  Office and Computer Supplies
  • •  Professional Services

Community Engagement, Involvement & Benefits

Live! Casino & Hotel Virginia will serve as a transformative development, creating maximum community benefits for the City of Petersburg and its residents. Bruce Smith Enterprise and The Cordish Companies have long embraced a strong approach to community integration and involvement. The partners are committed to supporting non-profit organizations in Petersburg, acting as conveners to assist community organizations and non-profits in their fundraising efforts and volunteerism, an endemic value to their cultures. Bruce Smith and The Cordish Companies are consistently named among the largest supporters of non-profits and philanthropic organizations in markets where they do business and recognized as valued community partners.

Live! Casino & Hotel Virginia will provide substantial benefits to the community including:

  • •  A commitment to diversity and inclusion in all facets of the Project including a comprehensive plan to ensure minority and local participation in ownership, construction, permanent employment and ongoing operational purchasing.
  • •  Construction and vendor opportunities for local, minority, women-owned, and veteran owned businesses.
  • •  Workforce development, training, mentoring, internships, tuition reimbursement and other programs through area community colleges, universities, and vocational schools to support local employment and career advancement.
  • •  Apprenticeships and training programs.
  • •  Marketing partnerships with area sports teams, businesses, and attractions to promote the City of Petersburg and surrounding communities through the nationally recognized, award-winning Live! Rewards customer loyalty program.
  • •  Enhancement of hotel, dining, and entertainment amenities in the region to attract thousands of new visitors to the area.

Live! Casino & Hotel Virginia will be developed, owned, and managed by Petersburg Community Development Investors, LLC. Authorization of a casino in Petersburg is subject to legislative approval by the Virginia General Assembly, Governor, selection by the City of a preferred developer and development site, and licensing by applicable Commonwealth agencies including the Virginia Lottery.

For more information, please visit https://valive.casino/.

About The Cordish Companies

The Cordish Companies’ origins date back to 1910 and encompass four generations of privately held, family ownership. During the past ten decades, The Cordish Companies has grown into a global leader in Gaming & Entertainment; Commercial Real Estate; Entertainment Districts; Sports-Anchored Developments; Hotels; Residential Properties; Restaurants; Coworking Spaces; and Private Equity. One of the largest and most respected developers in the world, The Cordish Companies has been awarded an unprecedented seven Urban Land Institute Awards for Excellence for public-private developments that are of unique significance to the cities in which they are located. The Cordish Companies has developed and operates highly acclaimed dining, entertainment and hospitality destinations throughout the United States, many falling under The Cordish Companies’ Live! Brand, highly regarded as one of the premier entertainment brands in the country. Welcoming over 55 million visitors per year, these developments are among the highest profile dining, entertainment, gaming, hotel and sports-anchored destinations in the country. In gaming, The Cordish Companies has developed among the most successful casino hotel resorts in the world, including the Hard Rock Hotels & Casinos in Hollywood and Tampa, FL, Live! Casino & Hotel Maryland, Live! Casino Pittsburgh and Live! Casino & Hotel Philadelphia. Over the generations, The Cordish Companies has remained true to the family’s core values of quality, entrepreneurial spirit, long-term personal relationships and integrity. As a testimony to the long-term vision of its family leadership, The Cordish Companies still owns and manages virtually every business it has created. For more information, visit www.cordish.com or follow us on Twitter (@cordishco).

“The Cordish Companies,” “The Cordish Company” and “Cordish” are trademarks used under license by independent corporations, legal liability companies and partnerships (“Cordish Entities”). Each Cordish Entity is a separate, single-purpose legal entity that is solely responsible for its obligations and liabilities. No common operations or financial interdependency, and no intermingling of assets or liabilities of the Cordish Entities exists, or should be deemed to exist, as a result of the potential common reference to multiple independent entities operating under the names “Cordish,” “The Cordish Companies” or “The Cordish Company” here or elsewhere.

SOURCE The Cordish Companies

 

Bruce Smith Enterprise and The Cordish Companies have responded to a request for proposal issued by the City of Petersburg, Virginia with plans to co-develop a $1.4B Live! Gaming & Entertainment District, anchored by Live! Casino & Hotel Virginia. The proposed project will generate billions of dollars in economic benefits and spinoff development, create thousands of new jobs and benefits to the local community, and become a major new tourist destination.

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