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Sudhakar Veluru is now the executive vice president and chief information technology officer at Four Seasons Hotels & Resorts. Prior to this role, he served as the chief technology officer at MGM Resorts International, spearheading digital transformation initiatives that enhanced access to e-commerce, customer loyalty programs, and casino games across mobile and online platforms, Four Seasons said in a statement. Before joining MGM, Veluru held various senior leadership positions at The Walt Disney Co. He will report to Alejandro Reynal, Four Seasons' president and CEO. "We are excited to welcome Sudhakar at this important time in Four Seasons information technology transformation," said Reynal. "Sudhakar's extensive experience in technology and IT innovation will be instrumental in shaping our digital-first future, further enhancing the guest, resident and employee experience across our growing global portfolio of luxury properties."

We got up close and personal with the business mogul, talk-show host, TV star, author and most recently, Harvard graduate - and find out how amusements parks inspired the creation of America's Next Top Model.

THE MANAGING PRINCIPALS of Atlanta-based Peachtree Hotel Group are forming a new company, Peachtree Group, to oversee its investment portfolio. Peachtree's hospitality division includes Peachtree Hotel Group, Peachtree Hospitality Management and Peachtree Hospitality Development. The new company will manage and control investments and direct investment strategies across different divisions, including hospitality, commercial lending, residential development and capital markets, the company said in a statement. The company is expanding in those areas, said Greg Friedman, Peachtree's CEO and managing principal. "The expanded breadth of investment types we are undertaking warranted the formation of Peachtree Group without hotel in the moniker," Friedman said. "This transformative structure provides a significant opportunity to unlock the full potential of our integrated real estate investment platform that has served us well in the hospitality sector to expand into other real estate sectors and businesses.

AS ARTIFICIAL INTELLIGENCE continues to permeate society on every level, there is a place for it in the hotel industry, AAHOA said. AI technology can improve operational efficiency and cut costs, the association said, but it must be developed and used ethically. AAHOA referenced two 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 endorse the integration of artificial intelligence into hotels for enhanced guests' experience. The University of Houston's study explored AI's transformative impact on the industry and its acceptance among hotel guests. Meanwhile, Morgan Stanley's research report released on August 18, titled "AI for Hotels: Will the Hotel of the Future Fit in the Palm of Your Hand?" documented the benefits of hoteliers, online travel agencies and hotel brands adopting AI technology early.

Jessica Janis, director and practice leader for hospitality at Corning Optical Communications LLC, is appointed the new honorary trustee of the AHLA Foundation. Janis will now serve as a member on its board of trustees, AHLA Foundation said in a statement. "Jess and Corning have long been passionate advocates and supporters of the AHLA Foundation and our work," said Anna Blue, president of AHLA Foundation. "We are thrilled to welcome her to our dedicated group of Trustees, steadfastly committed not only to the growth of our industry but also to the success of its people." "It's an honor to contribute to an organization shaping the future of hospitality, empowering the industry's next wave of leaders," said Janis. "At Corning, it's my privilege to help drive transformation in the hospitality sector through cutting-edge connectivity. With the AHLA Foundation, I anticipate collaborating with fellow Trustees to enhance educational opportunities, support research, and promote diversity-ensuring a vibrant and inclusive hospitality industry."

IHG HOTELS & RESORTS recently launched "IHG LIFT," an owner growth program aimed at providing hotel development support for historically underrepresented groups in the hospitality industry and promoting diversity within IHG's hotel owner community, the company said. The new program seeks to remove shared barriers to hotel ownership within these groups, promoting diverse owner-entrepreneurs for success. IHG will invest more than $30 million over the next five years to aid the program, offering support, capital access, and guidance throughout the hotel lifecycle for eligible owners in the U.S. and Canada. The IHG LIFT program name stands for leadership, inclusivity, facilitation and transformation, reflecting the necessary change and ongoing evolution within the industry, a company statement said.

The Best Western Houston Bush Intercontinental Airport is now open in Humble, Texas, following a comprehensive renovation. Previously it was a Baymont by Wyndham. The 52-room hotel is owned by Houston-based Wayside Investment Group, led by Miraj Patel as president. It is near the Houston Bush Intercontinental Airport as well as several restaurants, the Deerbrook Mall, Jess H. Jones Parks and the Old MacDonald's Farm. Amenities include a fitness center, meeting room, guest laundry and business center. It is pet friendly. "We are thrilled to open this newly renovated hotel and join the community by offering visitors traveling the Houston-area, a new and memorable travel experience." said Patel. "The transformational enhancements to this acquisition continues to demonstrates our commitment to value creation and best-in-class guest satisfaction."

GUJARAT JHM HOTELS, owned by the Rama family along with U.S.-based Auro Hotels, recently signed a memorandum of understanding with the government of Gujarat to develop the JW Marriott Surat Resort & Spa in Surat in the state of Gujarat, India. It is GJHM's third Marriott hotel in the city after the Surat Marriott Hotel and the Courtyard by Marriott Surat. The upcoming property will feature more than 300 guestrooms and villas, according to a joint statement by GJHM and Auro Hotels, according to a release on the Press Trust of India website. "This transformative project, backed by more than $120 million (Rs 1,000 crore) investment, aims to create jobs for 800 individuals, offer crucial infrastructure for the city's growth, and establish Surat as the commercial capital of Gujarat," said D.J. Rama, director of GJHM and president and CEO of Auro Hotels. "Aspiring to be a 'Smart City,' this strategic investment underscores Gujarat JHM's commitment to fostering inclusive development. Surat is poised to emerge as a beacon of urban advancement, seamlessly combining financial strength with technological innovation."

WHITESTONE CAPITAL RECENTLY partnered with PJD Capital to purchase the 152-room Holiday Inn East Mountain in Wilkes Barre, Pennsylvania, marking the first joint venture between the two real estate companies. Whitestone Capital, a division of Whitestone Companies, is led by CEO Jay Batra, while PJD Capital is headed by CEO Prakash Datwani. The Holiday Inn East Mountain features 152 guestrooms and more than 6,000 square feet of event space, the companies said in a joint statement. "We are excited about our new partnership with PJD Capital to reposition this property into a product the Wilkes Barre community has been craving," said Batra. "We expect the transformation to happen in two phases, with the first phase starting later this year. The property will be converted to a very select class of DoubleTree Hotels. A DoubleTree in name, driven by the power of Hilton, but not a typical DoubleTree. This property will feel more like a soft brand with design centered around a community-focused, light resort feel."

ACCOR HAS SELECTED IDeaS as its global revenue management software provider for its portfolio of more than 5,600 hotels across 110 countries. IDeaS will "future-proof" Accor's revenue management strategy to provide a competitive advantage, the companies said in a joint statement. "We are thrilled to be selected as a global partner to drive Accor's commercial revenue platform transformation at a moment of unparalleled growth and opportunity for the company worldwide," said Ravi Mehrotra, IDeaS' cofounder and chief scientist. "In a new era of innovation and consumer and product diversification, we are pleased to bring IDeaS' market-leading automation, pricing approach, and a singular focus on holistic revenue optimization to Accor's diverse brand portfolio."

In an era where sustainability and convenience are paramount considerations for travelers, hotels are embracing innovative solutions to stay ahead in the competitive hospitality industry. One such forward-thinking amenity that is transforming the guest experience and boosting revenue is the integration of electric vehicle charging stations. Beyond environmental consciousness, these charging stations offer a plethora of benefits that can significantly impact a hotel's bottom line. 1. ATTRACTING A GROWING MARKET SEGMENT The shift towards electric vehicles is undeniable, with more consumers opting for eco-friendly transportation. In the years to come more EVs will be hitting the roads. By installing EV charging stations, hotels tap into a burgeoning market segment, attracting EV travelers that plan their trips around EV chargers. This strategic move puts the hotel at the top of the list and positions the hotel as a progressive and forward-looking establishment. 2. ENHANCING THE GUEST EXPERIENCE Providing EV charging stations enhances the overall guest experience. Travelers with electric vehicles often face the challenge of finding suitable charging points during their journeys. By offering on-site charging, hotels alleviate this concern, fostering a sense of convenience and loyalty among guests. The seamless integration of charging stations into the guest experience contributes to positive reviews and encourages repeat bookings.

HYATT HOTELS CORP. reported $26 million in net income for the fourth quarter of 2023 and $220 million for the year. Comparable system-wide RevPAR grew by 9.1 percent during the same period and 17 percent for the full year of 2023, outperforming figures from 2022 and exceeding the previous full-year outlook. Adjusted net income reached $68 million in Q4 and $276 million for full-year 2023, Hyatt said in a statement. "The fourth quarter marks the completion of a transformative year and demonstrates the progress towards our strategic vision and earnings evolution," said Mark Hoplamazian, Hyatt's president and CEO. "RevPAR growth exceeded the high end of our guidance range and we had industry-leading net rooms growth for the seventh consecutive year. This led to a record level of fees and the highest free cash flow in Hyatt's history. We returned $500 million to our shareholders and achieved an asset-light earnings mix of approximately 76 percent for the full year, a testament to the successful execution of our strategy."

Peachtree Group recently acquired the 180-room Hilton Garden Inn Denver Tech Center in Denver, marking its second hotel in Denver after the Element Denver Park Meadows. The company's hospitality management team will oversee the seven-story hotel located in the city's employment hub, Peachtree said in a statement. However, the financial terms of the transactions were not disclosed. "We are excited to acquire this premium-branded hotel in a growing submarket with a variety of diverse and stable demand generators," said Michael Bernath, Peachtree's senior vice president for acquisitions. "The Denver economy is well diversified, with the city gaining recognition as a burgeoning tech hub. We believe the expansion of the R-Line, increased connectivity of the area and the completion of the transformative Bellview Station development will continue to make the Denver Tech Center an attractive destination for consumers and corporations alike." Peachtree aims to further invest in the property, which was previously renovated in 2014, the statement said. The hotel is near the under-development Bellview Station, a transit-oriented mixed-use development spanning more than 50 acres. There are companies including Comcast, Oracle, Microsoft, Zoom, Charles Schwab, Fidelity Investments, Newmont Mining, and Western Union in the vicinity.

As we stand on the brink of a new era, the world of finance is undergoing a seismic shift. Fintech, the fusion of finance and technology, continues to revolutionize the way we manage, invest, and interact with money. With each passing year, innovations in fintech reshape industries, challenge traditional banking models, and democratize access to financial services. The fintech industry has been a hotbed of innovation and growth, reshaping how financial services are delivered and consumed. As we look ahead to the next decade, several key trends and predictions are set to define the future landscape of fintech. Looking ahead, the next decade promises to be even more transformative. Here, we delve into some top predictions that will shape the future of fintech.

THE LOS ANGELES City Council declared Wednesday, Sept. 4, as "AAHOA Day," recognizing association members' role as entrepreneurs, job creators and contributors in the Greater Los Angeles Area. More than 100 AAHOA members attended the council meeting, where Councilmembers John Lee and Traci Park paid tribute to the contributions of local hoteliers to the city's development. "It is an honor to see our work recognized by the L.A. City Council," said Miraj Patel, AAHOA's chairman. "AAHOA Members have consistently engaged in advocacy that supports the hotel industry, and we are grateful for this acknowledgment of our efforts. I commend Greater Los Angeles area regional director Naresh Bhakta and Northeast Los Angeles Hotel Owners Association president Ray Patel for their hard work and dedication in leading these efforts, and all the AAHOA Members who joined for this special event." The recognition highlights the association's recent efforts to address challenges in the hotel industry, including revising the proposed "Hotel Land Use and Replacement Housing Requirements" and transforming a mandatory homeless voucher program into a voluntary one, AAHOA said in a statement said. The association also advocated for a carve-out for limited-service hotels in the proposed minimum wage hike.

HOSPITALITY SOFTWARE FIRM Actabl recently launched "Alice Housekeeping Refresh" to address fluctuations in housekeeping staff availability, providing owners and operators a tool to manage daily priorities and guest preferences. It enables teams to automate processes and manage assignments, offering visibility into priorities and team progress, Actabl said in a statement. "At Actabl, we understand the critical role that effective management of daily tasks and guest preferences plays in delivering hospitality," said Stephen German, Actabl's senior vice president of product. "Our latest update introduces a transformative tool for board and assignment management, streamlining task workflows and automating routine processes so associates spend more time caring for the guest and less on the technology." The tool provides leaders and team members quick insights into tasks, helping them meet guests' needs, Actabl said. Refresh includes a suite of functions: Auto-Assign, Credit Rules, Room Attendant Summary, Guest Preferences & Ticket Automation and Do Not Disturb Automation.

THE HOSPITALITY SHOW 2024, produced by Questex and the American Hotel & Lodging Association, announced highlights recently, including keynote sessions by chef José Andrés on October 28 and franchise expert Scott Greenberg. The show will take place Oct. 28 to 30 at the Henry B. González Convention Center in San Antonio, Texas. Andrés will present "Changing the World Through the Power of Food," while Greenberg will discuss strategies to elevate franchise operations. Greenberg's keynote will be followed by a fireside chat with Geoff Ballotti, president and CEO of Wyndham Hotels & Resorts. On Oct. 30, NFL reporter Erin Andrews will moderate the session "Creative Collaboration: The Ultimate Immersive Guest Experience," joined by Jonathan Tisch, executive chairman of Loews Hotels & Co., and Mark Woodbury, chairman and CEO of Universal Destinations & Experiences. They will discuss how storytelling transforms concepts from books and films into immersive guest experiences. Following the keynote, Andrews will join AHLA Foundation president Anna Blue for a ForWard Segment to discuss her career in sports broadcasting and her entrepreneurial venture, WEAR.

The September 2023 issue of Asian Hospitality magazine offers in-depth coverage of the latest trends and developments in the hospitality industry. This edition highlights crucial topics such as the surge in hotel development, innovative technologies transforming the guest experience, and key insights from industry leaders. Readers can explore detailed articles on sustainability, financial performance, and the evolving landscape of extended-stay hotels. Additionally, the issue delves into diversity initiatives and workforce challenges, providing a comprehensive view of the hospitality sector's future. Stay informed with expert analysis and forward-thinking strategies shaping the industry in 2023 and beyond.

SSN HOTELS, A Delaware-based hotel management and ownership company, recently acquired its 31st property, the Residence Inn Atlantic City Airport/Egg Harbor Township in New Jersey. A full renovation of the property, set to begin at year's end, will focus on upgrading guest amenities, SSN Hotels said in a statement. SSN Hotels is led by co-founders Peter Bhai as CEO and Pinky Bhai and president. "We are excited to expand our presence in the Atlantic City area and look forward to transforming this property into a premier destination for business and leisure travelers alike," said Peter Bhai. "This renovation will allow us to offer an even more exceptional stay for our guests while continuing to grow our portfolio." SSN currently operates 31 hotels across five states-New Jersey, Pennsylvania, Virginia, Delaware, and Florida-with seven more in development, according to its website. It owns and manages properties under brands from Hilton Hotels & Resorts, Marriott International, IHG Hotels & Resorts, Red Roof and Wyndham Hotels & Resorts.

ADAM HARRIS, CEO of Cloudbeds, and Jacob Messina, CEO of Stayntouch, discussed the future of property management systems at the Hospitality Show, focusing on their role in connecting human experiences and improving efficiency amid rising costs. The event, produced by Questex and the American Hotel & Lodging Association, recently wrapped up its second annual edition at the Henry B. González Convention Center in San Antonio, Texas. Panelists Charles Oswald, CEO of Aperture Hotels, and Chris O'Donnell, COO of Atrium Hospitality, with moderator Michael Frenkel, president of Travel Conversations, focused on labor shortages and the need for reliable, intuitive technologies to ensure consistent service. While technology leaders were optimistic about PMS technology's potential to transform hospitality, Oswald and O'Donnell shifted the focus to the industry's pressing challenge: labor shortages on both sides of the front desk. They stressed that the most valuable technologies today are reliable and intuitive, placing the responsibility on tech leaders to ensure consistent service.