Skift Travel News Blog

Just more than a month after luxury hospitality brand Inspirato executed a reverse stock split to meet Nasdaq listing requirements, the company said Friday it received a Nasdaq notice on November 27 that its market cap fell below the $15 million stock exchange minimum for the 30 days that ended a week earlier.

A property that was listed on Inspirato. Source: Inspirato

At market close in New York on Friday, Inspirato’s market cap was $14,949,000, according to Yahoo Finance, and that was just a tad lower — $51,000 — than the threshold.

“The Notice has no immediate effect on the listing or trading of the Company’s Class A Common Stock or warrants on the Nasdaq Global Market,” Inspirato stated in a filing with the Securities and Exchange Commission, adding that it will have until May 28, 2024 to meet the requirements to keep its stock listed on Nasdaq.

The company’s market cap would have to close at $15 million or more for 10 business days in a row to get back in Nasdaq’s good graces.

“The Company is currently evaluating various courses of action to regain compliance … ,” Inspirato stated.

Inspirato, like several other companies that went public in SPAC mergers, has been struggling since its debut in mid-February 2022. It recently appointed a new CEO, but in the third quarter the company continued to burn substantial cash, and saw its revenue decline.

IHG Hotels & Resorts is getting into the holiday spirit with the launch of a new experiential winter campaign at a selection of its American properties. 

Select InterContinental Hotels & Resorts, Kimpton Hotels & Restaurants, Vignette Collection and Hotel Indigo properties will be transformed into ‘Winter Wonderlands’ for the holiday season by incorporating chalet-inspired installations and programming.

The 17 feet tall chalet structures, which will feature in the lobbies of select properties, have been designed and constructed by architect Tristan Al-Haddad and feature interiors curated by interior designer Corey Damen Jenkins.

Each installation features a bar that will serve seasonal beverages throughout the day and will include regular programming for the duration of the campaign.

Outside of the Winter Chalet installations, every hotel across IHG’s Luxury & Lifestyle Americas portfolio will provide guests with some form of winter inspired programming, including festive dining experiences and chalet inspired room activations.

The campaign will run from December 1, 2023 through February 29, 2024.

Accor has announced the signing of the first Tribe Nation hotel in China, in partnership with Guiyang Chengnan Investment and Development Company Ltd.

Located in in Huaxi District, a National All-For-One Tourism Zone in the southern part of Guiyang, the 136-room hotel is set to open in January 2025, and will offer a ‘new urban lifestyle hospitality experience to modern and Gen Z Chinese travelers.’

According to a release from Accor, Tribe Nation Guiyang South will be designed to provide guests with ‘a creative hub to relax among a like-minded community of locals and travelers’ and ‘surprise travelers with an original and creative type of hospitality that redefines the hotel experience and amplifies style.’

The hotel will also feature eco-friendly amenities, two restaurants, a gym, swimming pool, and meetings and function spaces available for celebrations or conferences. 

Tribe Nation Guiyang South is one of 50 new Tribe hotels that are being built globally, with the brand expecting up to 100 new addresses to open over the next five years.

1 Hotels has launched its first European property, with 1 Hotels Mayfair now open in London, standing as the brands flagship location in the United Kingdom.

According to a release, a commitment to sustainability and biophilic design principles have been the ‘driving force’ behind the design of the property, with the new location meeting BREEAM Excellent standards – a rating used to measure the sustainability performance of buildings.

The nature inspired hotel features a number of naturally sourced design features, including a ‘living wall’ – featuring more than 1,300 individual plants – along with reclaimed Yorkshire dry-stone walls, private bars that have been hand-wrapped with woven jute and vanities crafted from Welsh slate.

“We are thrilled to bring our brand’s one-of-a-kind blend of nature and culture, sustainability and luxury, and a holistic focus on health and wellness to what has been a hub of heritage for generations,” said 1 Hotels founder and SH Hotels & Resorts chairman, Barry Sternlicht. 

“We designed this soothing urban oasis as a fresh, fashionable, contemporary take on timeless traditions. With Green Park as our backdrop, we are focused on reconnecting our guests and visitors to the wonder and magic of London’s natural, cultural, and historical landmarks in an atmosphere that is as relaxed as it is refined.”

We’ve all experienced that moment of dread when we arrive in our hotel room and begin unpacking our luggage, only to realize that we’ve forgotten to pack the star piece of one of our planned outfits.

Well a new partnership from Kimpton Hotels & Restaurants and Anthropologie aims to alleviate these feelings of ‘pack-xiety’.

The new partnership forms part of Kimpton’s larger Forgot It? We’ve Got It! program, and will now offer guests access to a selection of complimentary accessories – including bags, belts, and bracelets – that are available to borrow for the duration of guest stays.

Launched in the United Kingdom last month, the new service is accessed via an in-room QR code which directs guests to an online catalog that allows them to browse, borrow, and purchase items.

“Kimpton is a brand known for its thoughtful perks and unique personal touches that enhance the guest experience and leave lasting impressions. Knowing accessories are often the first items to get cut or overlooked while packing, this partnership and accessories collection with Anthropologie provides guests with a chic solution in the event they’ve forgotten that perfect clutch or want to add a little extra something special to their style or seasonal look – whether it’s for a weekend getaway, business meeting, rooftop concert or night out,” said Kathleen Reidenbach, SVP of marketing and commercial for IHG Luxury & Lifestyle Americas and Kimpton Global.

The service is available now at Kimpton Fitzroy London, Kimpton Clocktower Hotel in Manchester, Kimpton Charlotte Square in Edinburgh, and Kimpton Blythswood Square in Glasgow.

Sonder announced Tuesday that its 1-for-20 reverse stock split would become legally effective after market close Wednesday, and that its shares would start trading on that basis Thursday morning.

The move is geared to get the stock trading at more than $1 per share in compliance with Nasdaq rules.

“As of the Effective Time, every 20 shares of the Company’s issued and outstanding common stock and every 20 shares of its issued and outstanding special voting common stock will be combined into one issued and outstanding share of common stock or one issued and outstanding share of special voting common stock, respectively,” Sonder announced. “The total number of authorized shares of common stock will be reduced from 400,000,000 to 20,000,000, and the total number of authorized shares of special voting common stock will be reduced from 40,000,000 to 2,000,000.”

Sonder closed trading on Tuesday at $0.34 per share.

The reverse stock split doesn’t change Sonder’s market cap, which was $74.8 million at market close on Tuesday.

After receiving a notice from Nasdaq in April that its shares could be delisted because their price had dipped below $1 per share for 30 trading days in a row, Sonder announced in July would ask shareholders to approve a reverse stock split, which they did on Friday in a special meeting.

Sonder is among a bevy of SPACS, which saw its share prices tumble, some below $1 per share, after they went public.

The majority of Sonder’s listings are for short-term rentals, but hotel rooms are a growing portion of its portfolio.

It has an advantage in places like New York City, which just clamped down on host registrations for short-term rentals, because Sonder has many hotel licenses, and these are legal.

IHG Hotels & Resorts (IHG) have launched a new program – known as IHG LIFT – which has been designed to create more hotel development support for historically under-represented groups within the hospitality industry.

The program will include support, access to capital and guidance along the hotel lifecycle, and is open to owners who qualify in the U.S. and Canada. 

According to a release from IHG, the new program will ‘unlock common barriers to hotel ownership among these groups and empower diverse owner-entrepreneurs for success.’

As part of the program, IHG has partnered with two leading Historically Black Colleges and Universities – Clark Atlanta University and Morehouse College – and will commit more than $30 million to the initiative over the next five years.

“As our industry grows, we need to keep our focus on enabling more success for our diverse ownership base. Barriers such as a lack of access to capital and the right networks put such owners at a disadvantage. The IHG LIFT program is specifically designed to help ease the path to ownership and ultimately support owners. Diversifying ownership is not only better for IHG, it also lifts up our entire industry,” said Julienne Smith, chief development officer, Americas at IHG Hotels & Resorts.

IHG LIFT forms part of IHG’s forms part of its broader Journey to Tomorrow 2030 responsible business plan.

Marriott Bonvoy has launched a self-paced walking tour, Capture the City Miami, curated in partnership with Greater Miami and Miami Beach and local fashion blogger Daniela Ramirez. 

Available as a mobile app, the tour showcases an interactive map with tips and content created by Ramirez, aka @nany.

Developed as part of the Marriott Bonvoy Loyalty program, the walking tour can be purchased and downloaded according to the size of the group, ranging in price from $59 for 1 to 4 guests up to $159 for 9 to 12 guests. Additionally, it includes “$200 in perks” per person “to experience the best food, photo opportunities, and culture” across the city’s South Beach, Design District, Wynwood, and Little Havana neighborhoods. 

Some of the experiences included on the city tour:    

• Browse Baccarat’s beautiful and colorful crystal and enjoy a complimentary glass of champagne at the BBar and Lounge.
• The Museum of Graffiti in Wynwood, featuring indoor and outdoor exhibitions, with colorful murals by artists from around the globe, with a 25% discount on ticket price.
• Havana 1957, an authentic Cuban restaurant on Ocean Drive for a complimentary traditional mojito with the purchase of an entree.

The tour is meant to give guests “another way to experience the power of travel,” according to a Marriott Bonvoy spokesperson who confirmed there are no plans to roll out similar standalone app experiences for any other popular cities at this point. 

Marriott Bonvoy has the most hotel loyalty program members, at about 180 million. The program has looked to create immediately accessible experiences for its members, having recently launched its Marriott Bonvoy One Point Moments in June.

Hospitality technology company Mews is partnering with Saira Hospitality on a new staff training initiative aimed at transforming learning within the hospitality industry.

The new partnership will see five new hospitality schools created around the world, with the first school set to open in London in June 2023, followed by a pop-up in Amsterdam towards the end of the year. 

Mews will also work with Saira on integrating the key curriculum offering into their University platform, utilizing the industry-leading experience of both brands to offer access to learnings in essential hospitality skills including leadership, communication and emotional intelligence.

“Hospitality isn’t just about business; it also has a key role to play in education and building local communities,” said Paul Mooney, chief customer officer at Mews. 

“What’s so exciting about this partnership is that it can make a real difference to individuals while also helping our industry to create a new, enthused talent pool,” he continued.

Skift featured Saira Hospitality’s work and founder Harsha L’Acqua’s mission during our Skift Global Forum in 2019.

At the Skift IDEA Awards, we are looking for the projects that are defining the future of operations and other business outcomes, including those that create a positive impact for communities.

If you have an exciting project to share, head to the Skift IDEA Awards today and start your submission. The final deadline for entries is June 20, 2023.

Maison Brummell Majorelle – an 8-room design-driven boutique hotel located in Marrakech – balances contemporary sculptural design with a traditional Moroccan undertone to stand out to design-minded travelers coming to Morocco.

Located across from this historic city’s Majorelle Gardens and a short walk from the Yves Saint Laurent museum, the Maison was constructed from scratch for Austrian hotelier Christian Schallert by New Zealand architect Bergendy Cooke and Moroccan architect Amine Abouraoui.

With an estimated 1,500 Riads located throughout Marrakech, Maison Brummell aims to entice global wanderlusts with its rose-hued tadelakt (a traditional Moroccan lime plaster technique), bespoke interior finishes crafted by local artisans, and a sought after neighborhood in Marrakech. However, the Maison’s unconventional design, particularly its inverted arches, was also met with resistance from the local community until the Marrakech-based architect, Abouraoui, was able to win the approval of officials and neighbors.

Maison Brummell Majorelle opened in January 2023.

At the Skift IDEA Awards, we are looking for the projects that are defining the future of guest experience, including aviation, hospitality, and tourism innovations.

If you have an exciting project to share, head to the Skift IDEA Awards today and start your submission. The final deadline for entries is June 20, 2023.