Placemakr

Is facial recognition the new face of hospitality? According to LODGING Magazine it’s revolutionizing the guest experience. The hospitality industry increasingly turns to biometrics to streamline check-in, check-out, and payment processes, enhancing guest experiences while addressing staffing challenges. With privacy concerns being addressed and improved protections in place, facial recognition is set to see greater adoption in 2024 and 2025. It offers higher accuracy and lower disease transmission risk compared to fingerprint technology. Solutions like CyberLink's FaceMe enable seamless check-ins via smartphones and self-service kiosks. Beyond access control and payments, biometrics can even assess guest satisfaction through emotion detection. As technology costs decrease and public comfort with biometrics grows, wider adoption is on the horizon. https://lnkd.in/gbZAV4gU

According to Travel And Tour World, summer surges drive an upward trajectory for travel and hospitality in the US. In July, many sectors faced a hiring slowdown due to economic uncertainties, but the travel and hospitality industries continued to thrive with strong employment growth. The high demand for travel and leisure services, boosted by the summer vacation season and a resurgence in tourism, has spurred the need for more staff. Factors such as pent-up travel demand, rescheduled events, and an emphasis on enhancing customer experiences are driving this growth. Despite broader economic challenges, travel and hospitality are emerging as key areas of job expansion, offering substantial employment opportunities as they recover and evolve. https://lnkd.in/gngez_eK

Our Dupont Circle location in DC, originally the Patterson Mansion and now beautifully restored, retains its original charm. It’s no surprise it was the perfect setting for Washingtonian Magazine's photoshoot, showcasing DC’s most stylish individuals.?

According to CoStar Group, flexibility and profitability help extended-stay hotels hold owner and operator interest. During the pandemic, extended-stay hotels experienced a surge in demand due to increased government travel and the rise of remote work, according to Parul Suri, VP of Sales and Revenue at Placemakr. “It was just a better way for people to travel,” she noted. While this year has seen a slight dip in performance—primarily due to rising airline travel costs affecting family trips—extended-stay hotels continue to prove their worth. They offer flexibility and profitability, making them a sustainable and attractive segment for hotel owners and operators. The trend toward longer stays and the need for adaptable travel solutions highlight the enduring appeal of extended-stay accommodations. The sector remains a strong choice for those looking to capitalize on evolving travel habits. Read more here: https://lnkd.in/gCMZSRYw

According to PR Newswire, Americans Embrace “Justi-vacations” Despite Budget Constraints According to Allianz Partners USA’s 16th Annual Vacation Confidence Index, 68% of Americans are confident they'll take a vacation in 2024. This is the highest level of confidence recorded since the survey began in 2009. Even with budget constraints, Americans are finding creative ways to make travel happen, and highlight continued desire for travel. How are you planning to make the most of your travel opportunities for the rest of 2024? ?? Read more here: https://lnkd.in/g8eaE6em??

We’ve partnered with Jamestown to unveil Scout Living, in Atlanta’s Ponce City Market. Scout Living is one of the first purpose-built flex-living towers in the U.S., featuring 405 fully-furnished units designed for flexible stays – from one night to a month or more. With modern, tech-enabled amenities including a full kitchen, in-unit washer-dryer, and a rooftop pool with skyline views, it’s more than just a place to stay. ?? Where: Atlanta’s vibrant Ponce City Market ??? When: Opening September 16th 2024 Our guests will enjoy: - One- and two-bedroom units with separate living and sleeping spaces - Rooftop amenities including a wellness studio, terrace, and chef’s kitchen - 12,000 sq. ft. of ground-floor retail with food-and-beverage options and convenience shopping - Walkable connectivity to the historic Ponce building and Atlanta Beltline https://lnkd.in/gixTEEai

Thank you, Washington Business Journal for shedding light on our profitability journey. Last Monday, our co-founder, Jason Fudin posted on LinkedIn "Hello PROFITABILITY, nice to meet you." Since the pandemic’s low point, our annualized bookings have skyrocketed from under $5 million to nearly $150 million today. “Me and Bao came from real estate where the whole point is cash flow, and you make money. So the idea that you're building a company where you're losing money to us is, like, nauseating," says Fudin. We've always been highly focused on, how we build an enduring business. And a big part of that is building a profitable business. So what's next? The goal is to keep "feeding the machine," says Fudin. Read more here: https://lnkd.in/g2SUk8JJ

Our VP of Sales and Revenue,?Parul Suri,?Highlights Extended-Stay Hotels’ Resilience Amid Changing Travel Trends Suri?discusses the ongoing appeal of extended-stay hotels in a recent?CoStar Group?article. According to Suri, the pandemic played a valuable role?in driving these accommodations by increasing government travel and the rise of remote work. Suri said that with Placemakr, it depends on the market where?it's?operating. Our properties are flexible, so the stay model depends on the demand coming in.?“There will be seasons when we know that the other segments are not going to operate as well, and that time we would be like, ‘All right, we want more of the extended-stay segment,’ and we can cater to it, while we can also cater to the other segments and walk that blurred line very easily,” she said. Despite a slight dip in performance this year—mainly due to rising airline travel costs impacting family vacations—extended-stay hotels continue to demonstrate their advantages. They offer?both?flexibility and profitability, making them a compelling choice for hotel owners and operators. The sustained demand for longer stays and adaptable travel solutions continue to prove the sector's robustness. Read more here:?https://lnkd.in/gCMZSRYw

Achieving Profitability ?? We are thrilled to share that we’ve reached a significant milestone—securing our first positive EBITDA month in June 2024. This achievement marks a pivotal moment in our journey as a flexible-use hospitality and multifamily operator. Our success comes alongside our expansion into new markets like Atlanta and continued growth in Washington, DC and Texas. "This achievement, seven years in the making, is a testament to our incredible team and real estate partners. Today we celebrate, but tomorrow we dive back into expanding our property footprint and refining our platform,” says Jason Fudin. Looking ahead, we’re excited about new property launches and our commitment to institutionalizing the flex living asset class. For more details on our journey and future plans, visit www.placemakr.com. Read more: https://lnkd.in/g_6d2VKi

We’re enthusiastic to share this major milestone with co-founders Bao Vuong & Jason Fudin, as Placemakr has officially transitioned to profitability! As a company we’ve endured COVID-19 and witnessed several rounds of flexible real estate bankruptcies, all while experiencing difficult interest rates & development environments. Despite these challenges, Placemakr has remained resilient and strong, evolving into the business it is today.