Placemakr’s Post

HotelsHero, an AI-powered luggage storage management system, was launched in May by Denmark-based LuggageHero. Designed to enhance guest satisfaction and streamline hotel operations, HotelsHero offers both self-service and staff-assisted luggage storage without the need for lockers. The system uses QR codes and #AI-powered image recognition to securely store and retrieve guests' luggage. Revenue is generated through service fees for add-ons like tipping or insurance, while the software itself is free for hotels. Read more: https://lnkd.in/gttmYZHB

As the summer travel season kicks into high gear, Vacasa teamed up with Allison to see where Americans are heading this sunny season, what’s motivating their vacation plans, and how much they’ve budgeted for their trips. The survey findings, recently released in #Vacasa's 2024 Summer Travel Trends report, reveal that travelers will be taking multiple trips (five, on average, throughout the summer), most will be staying stateside (89%), and their sights are set on lake and beach destinations (accounting for 63% of all summer travel) ☀️ Read more: https://lnkd.in/gVZe7X5j

According to Bloomberg nearly one-quarter of all US office space will be vacant by 2026 🏢 Working from home persists, continuing to slice commercial property values by as much as $250 billion., according to a report from Moody’s. Office-vacancy rates are expected to rise to 24% from 19.8% in the first quarter of this year in the US, reducing revenue for office landlords by between $8 billion and $10 billion when combined with the impact of lower rents and lease turnovers, the authors of the report said. That, in turn, could translate into “property value destruction” in the range of a quarter-trillion dollars, Todd Metcalfe, Moody’s associate director of commercial real estate (CRE) forecasting, and Tom LaSalvia, Moody’s head of CRE economics, said in a separate analysis that’s not contained in the report. Read more: https://lnkd.in/gPjifC9R

According to PaymentsJournal, Young Americans are willing to incur debt for travel experiences. According to data from Bankrate, more than a quarter of those surveyed said they would be willing to take on debt to travel this year. That’s more than double that of those who would do the same for categories like dining out and live entertainment. Specifically, 44% of Gen Zers and 37% of millennials expect to spend more on travel in 2024 than they did a year ago. In contrast, 34% of Baby Boomers said the same. Read more about this trend here: https://lnkd.in/gbsDAR-E 

S’mores Kits? Saunas? Short-Term Rental Hosts Scramble to Stand Out. According to The New York Times, the short-term rental market is becoming increasingly competitive, with more hosts vying for fewer guests, leading to declining prices and a need for creative ways to attract renters. Hosts are focusing on designing properties to cater to specific guest demographics, offering unique experiences, and prioritizing safety and sustainability concerns. To stand out, hosts are incorporating extra perks such as concierge services, themed amenities like s'mores kits and saunas, and catering to guests' desires for extended family stays and pet-friendly accommodations. Read more about the changing landscape here: https://lnkd.in/gr547AJc 

As we gear up for the summer season, U.S. hoteliers are strategically preparing for shifting trends in consumer demand. This year, there's a noticeable pivot towards group events and concerts fueling the industry, with leisure demand showing a slight softening in comparison to previous years. Intriguingly, while traditional leisure hotspots like Florida may experience a modest dip, urban locales and properties situated near major concert venues are witnessing a surge in weekend occupancy. Despite encountering rate pressures and escalating costs, hotels are proactively responding by rolling out enticing discounts and elevating guest experiences. Read more here: https://lnkd.in/eygsBzBq

In the ever-evolving commercial real estate (CRE) landscape, flexibility isn't just a trend—it's a fundamental consumer demand reshaping the industry. Yet, despite this demand for adaptable leasing terms and "turnkey" spaces, why are so many operators struggling? In Jason Fudin’s latest Forbes Business Council article, he unpacks the root cause lying not in consumer behavior, but in the operational framework of many flexible real estate platforms. These platforms often rely on a lease-based model, which despite its seeming flexibility on the surface can turn into a financial mess. The Problem: Traditional leases don't align with market unpredictability, leaving operators vulnerable. The Solution: Management agreements offer a flexible alternative, minimizing risk for both operators and real estate owners. The Future: Success lies in innovative models that adapt to changing market dynamics. Read the full article here: https://lnkd.in/em-gWS7r

We are thrilled to announce W. Edward Walter as the newest addition to our Board of Directors. Formerly the Global CEO of Urban Land Institute, and two-decade tenure at Host Hotels & Resorts Inc., including serving as President & CEO. Walter brings a wealth of experience in real estate and hospitality which will be invaluable as we continue to scale and innovate in the industry. "I'm excited to join the Placemakr team on its mission to create more flexible real estate," said Walter. "Placemakr's commitment to delivering value to real estate partners is impressive, and I look forward to contributing to its continued success." Under Walter's guidance, we aim to expand our geographic footprint and enhance the experiences of our guests and residents. Join us in welcoming W. Edward Walter to the Placemakr family! Read the full press release here: https://lnkd.in/gFKJhYJc

We’re not done talking about our recent Texas expansion! Thank you Hotel Business Magazine for the feature. Read more about our expansion here: https://lnkd.in/gwvMZwF7