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No surprises: New York, London and Tokyo top the list of world’s 15 richest cities

April 20, 2019 by Forimmediaterelease

Boston, Calgary, Perth and Macau – all associated with material wealth – have failed to make this list of the 15 richest cities in the world, compiled by market research firm New World Wealth.

The data gathered by the researchers reflects the total amount of private wealth held by all the individuals living in each of the cities on the list. Unlike traditional ratings, this top 15 is not based on Gross Domestic Product (GDP), but reflects analysis that covers all assets, such as property, cash, equities and business interests, excluding liabilities. Government funds are included.

1. New York City – $3 trillion

2. London – $2.7 trillion

3. Tokyo – $2.5 trillion

4. San Francisco Bay Area – 2.3 trillion

5. Beijing – $2.2 trillion

6. Shanghai – $2 trillion

7. Los Angeles – $1.4 trillion

8. Hong Kong – $1.3 trillion

9. Sydney – $1 trillion

10. Singapore – $1 trillion

11. Chicago – $988 billion

12. Mumbai – $950 billion

13. Toronto – $944 billion

14 Frankfurt – $912 billion

15. Paris – $860 billion

According to New World Wealth, wealth is a measure that differs from a GDP indicator, which is another common metric used to gauge economic power. The research firm revealed that Houston, Geneva, Osaka, Seoul, Shenzhen, Melbourne, Zurich and Dallas had just missed out on the top 15.

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Portland welcomes Underground Donut Tour

April 19, 2019 by Forimmediaterelease

Today, the Underground Donut Tour, Chicago’s Original Donut Tour, is expanding beyond the Windy City to the City of Roses – Portland, OR. The Underground Donut Tour was founded nearly 4 years ago in Chicago and is one of the most popular food tours there.

Hosting thousands of guests from around the world and showcasing the best donuts the city has to offer. The Underground Donut Tour recently expanded to Philadelphia, New York City and now Portland! With the addition of Portland, the Underground Donut Tour expands their delicious footprint from coast to coast.

“Portland is the home of donuts. When you talk about Portland food culture, donuts are one of the first things people mention. We had to come to Portland!” said Jeff Woelker, founder of the Underground Donut Tour.

What Can Customers Expect

Walking between 4 of the best donut shops in Portland – we share the history of each location, local sights and history along the route including Pioneer Square, Chinatown, and the PSU Campus, but most importantly, lots and lots of the best donuts in Portland. Some of the locations include Blue Star, NOLA Doughnuts, and the one everyone wants to see Voodoo Doughnuts, where you can skip the line if you are on the tour.

“The Underground Donut Tour is a natural fit for Portland. We have the best donuts in the world!” said Beau La Fave, tour manager for the Underground Donut Tour Portland.

When Do Tours Run

Tours will start on Friday, April 19th. Tours run every Friday, Saturday and Sunday from 9-11 with more days coming soon. Tickets are sold on a first come, first served basis, so don’t miss out.

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Tallest modular hotel in the world will be built in New York City

April 18, 2019 by Forimmediaterelease

The world’s tallest modular hotel – which will carry a brand of Marriott International – is on track to be stacked in late fall in New York City with prefabricated and pre-furnished guestrooms. Once erected over a 90-day period, the 360-foot-tall tower will represent a milestone for Marriott’s ongoing initiative to encourage hotel developers in North America to embrace modular for new construction projects. To be topped with a modular roof and modular rooftop bar, the world’s tallest modular hotel is expected to open in late 2020 as the AC Hotel New York NoMad.

“In North America, the construction process hasn’t changed significantly in 150 years and it’s ripe for innovation,” said Eric Jacobs, Marriott International, Chief Development Officer, North America, Select and Extended Stay Brands. “The world’s tallest modular hotel in one of the world’s greatest destinations will act as a game-changing symbol to ignite even greater interest in modular among the real estate and lending industries.”

Fully finished guest rooms

The 168-room, 26-story AC Hotel New York NoMad is scheduled to rise at 842 Sixth Avenue with prefabricated guestrooms arriving at the hotel site fully constructed, inside and out. Besides finished, painted walls, each “module” will contain a fully outfitted guest room – with beds, sheets, pillows, flooring and even toiletries. The hotel’s roof and rooftop bar are expected to be produced using modular construction, and its more customized public areas such as the restaurant and lobby are expected to be constructed using traditional methods.

Prefabrication is a process that Marriott has found typically reduces the construction timeline, curbs site waste and noise, and results in a higher-quality product produced with factory level precision. The time savings comes from the ability to perform two crucial functions simultaneously – building the public spaces on site while manufacturing the guest rooms offsite.

“This is the moment where modular construction takes center stage,” says Danny Forster, a leading modular building advocate whose firm, Danny Forster & Architecture, designed the project. As he explains it, “This hotel takes every advantage of off-site manufacturing, as you might expect. But it does so in a way that defies expectation. We wanted to demonstrate that modular building can do more than just harness the efficiencies of the factory. It can produce a graceful and iconic tower. And yes, it can do so at the rate of an entire floor a day.”

Marriott sees a modular future

Marriott, which has the largest pipeline of hotels in North America, began researching modular construction in 2014 to offset lengthening hotel construction times – a trend attributed to the nation’s building boom and resulting labor shortages. Since 2011, Marriott has seen the average time to build and open a hotel in North America increase by as much 50 percent, depending on factors such as location and size of property.

Since 2015, Marriott has been educating owners, franchisees, architects, lenders, consultants, general contractors and other stakeholders across the industry about the benefits of modular by hosting town halls, factory tours and stacking events. The company also worked with leading modular manufacturers to help them better understand the untapped demand that hotel development companies represent.

Since the launch of Marriott’s initiative, the company’s development partners in North America have opened 31 Marriott-brand hotels – all low-rise structures – that incorporate prefabricated guestrooms and/or bathrooms, including a Fairfield by Marriott Inn & Suites in Folsom, Calif.; a Courtyard by Marriott in Pullman, Wash., and three AC Hotels in Oklahoma City, Louisville, Ky., and Chapel Hill, N.C. To date, the largest Marriott-branded modular-built to open is the 354-room, dual-brand Courtyard and TownePlace Suites by Marriott property in Hawthorne, Calif., while the first to also incorporate a prefabricated elevator bank was the Fairfield by Marriott Inn & Suites in Prairie, Wisc. Later this year, a developer will start stacking the first modular-built Moxy hotel in the United States in downtown Oakland, Calif.

The company continues efforts to support developers interested in leveraging prefabrication, most recently launching modular versions of its prototypes for four of its higher-volume brands: Courtyard by Marriott, Fairfield by Marriott, SpringHill Suites by Marriott and TownePlace Suites by Marriott. Underscoring its commitment to igniting demand for modular construction, Marriott this year is offering an incentive to development companies that leverage prefabrication for guestroom construction.

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New team member at The Pod Hotels

April 17, 2019 by Forimmediaterelease

The Pod Hotels is striving to address the rapidly-increasing demand for affordable lifestyle hotels targeted at progressive-minded and budget-conscious travelers who are creative and ambitious and who maintain high expectations when it comes to authentic experiences, smart design and intuitive technology.

As part of this progress, BD Hotels today announced the appointment of Rani Gharbie as the Head of Acquisitions & Development for The Pod Hotels, BD Hotel’s highly profitable micro-hotel concept to replicate this successful business model in even more key markets including Miami, San Francisco, Chicago, Austin, Boston, Nashville, Seattle, Montreal, Toronto, and Mexico City, amongst others.

Gharbie formerly oversaw development and acquisitions for North America at Virgin Hotels where he actively contributed to grow the brand’s footprint in key markets.

As Head of Acquisitions & Development working closely with BD Hotels owners Richard Born and Ira Drukier, Gharbie will be responsible for identifying potential investment opportunities and bringing together strategic partners and investors to fund future projects in numerous markets. He will leverage BD Hotels’ expertise in hotel development, investment and operations to expand The Pod Hotels brand across the country and eventually globally.

“Rani joins us at a pivotal time as we scale The Pod Hotels portfolio exponentially in North America” said Richard Born, Owner of BD Hotels. “He will undoubtedly be a tremendous asset as he brings over 20 years of experience in hotel acquisitions, development and operation.”

“I’m looking forward to expanding the profitable model Richard and Ira created to key markets nationwide,” said Gharbie. “I see great growth potential for the brand as there is an increased desire from today’s travelers to stay at smart, innovative brands like The Pod Hotels.”

Prior to joining Virgin Hotels, Gharbie was the Managing Director and Founder at Cedar Funds, a New York City based development and investment firm with a focus on progressive hotel and real estate assets, as well as regional Director of Development with InterContinental Hotels Group (IHG). In addition, Gharbie is an Adjunct Professor at Columbia’s Masters in Real Estate Development program, where he teaches the spring course Private Equity Development, Hotel Focus. He holds a Masters Degree from the program, an MBA from the HEC Business School in Montreal, a Bachelor degree in Hotel Management from the Glion Hotel School in Switzerland, and a Certificate in Hotel Real Estate Investments and Asset Management from Cornell University in New York.

The Pod Hotels currently has five properties in the portfolio, three of which opened over the past two years (the brand’s flagship Pod Times Square opened in January 2018; Pod DC and Pod Brooklyn opened in 2017), with the brand recently announcing two more hotels in the direct pipeline (Pod Philly opening in fall 2019 and Pod LA slated for 2020). With its functional guestrooms, vibrant communal space and flexible design, The Pod Hotels presents superior investment returns when compared to legacy hotel brands of similar positioning.

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IGLTA honors ITB Berlin for its commitment to LGBT+ travel segment

April 17, 2019 by Forimmediaterelease

The reward for promoting awareness and acceptance of the LGBT+ Community in the global tourism industry: at the Annual Global Convention, which will take place from 24 to 27 April at the Hilton Midtown New York City, the International LGBT+ Travel Association (IGLTA) will present ITB Berlin with the Vanguard Award.

Every year, together with the IGLTA Foundation (www.iglta.org/The-IGLTA-Foundation), the public charity subsidiary of the IGLTA, the directors’ board presents the IGLTA Honors. The recipients are individuals, companies or organizations who have improved relations within the tourism community and raised awareness of LGBT+ travel around the world. The LGBT Travel Pavilion of ITB Berlin celebrated its debut back in 2010, and since then has become a highly-regarded role model for the presentation of the gay and lesbian travel segment at an international travel show. In addition to the extensive display area with its own conference venue, supporting events such as the LGBT+ Media Brunch, networking events, informative lectures, the LGBT+ ITB Convention Seminar – which since 2 years also includes the bestowal of an ITB Pioneer Award -, and, as of this year the International LGBT+ Leadership Summit, attract many visitors.

ITB’s commitment has made it possible to also position this segment at ITB Asia in Singapore and organize international ITB Academies on this topic as recently in Malta and Japan.

”ITB Berlin is proud to occupy a pioneering role in this important subject, and to be the recipient of such a prestigious award for its continuing efforts to promote international recognition of LGBT+ travel“, said Rika Jean-François, CSR officer of ITB Berlin and responsible for this segment. ”What began as a few community pioneers exhibiting here and there around ITB Berlin has over the years become a recognized platform. Together with our partner Diversity Tourism we have created a globally unique forum.“

”We have got to the point now where at ITB Berlin we have created one of the liveliest and most diverse LGBT+ Travel Pavilions possible, with exhibitors and people taking part in discussion rounds from around the world“, is how Thomas Bömkes, LGBT+ consultant for ITB Berlin and Managing Director of Diversity Tourism GmbH described this market’s rising prospects. Rika Jean-François added: ”This award will give us the strength to continue defending LGBT+ travelers against discrimination in every country in the world and to ensure that they, just like any other travelers, can visit places where also local people are respected regardless of their sexual orientation.” Thomas Bömkes pointed out, that the economic potential of this travel market cannot be underestimated: “Studies have shown that accepting diversity can contribute significantly to a destination’s economic success.“

LGBT tourism has been represented at ITB Berlin since the Nineties. As a result of ITB Berlin’s CSR policy which promotes diversity and defends human rights in tourism and due to the keen interest expressed by exhibitors and visitors, Gay & Lesbian Travel was officially declared a segment in its own right at ITB Berlin 2010. Openness, creativity and lively interaction are the dominant features of this segment that has become one of the most wide-ranging at ITB Berlin. The LGBT Travel Pavilion currently boasts the world’s largest display of products for the gay and lesbian travel market of any trade show in the world.

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