Q1 & Q2 Highlights – New Forecast for 2023

As a leading supplier of hospitality linens, Garnier-Thiebaut USA has always placed significant emphasis on meeting the needs of hotels, restaurants, and resorts on a global scale. Throughout 2023, hospitality professionals have witnessed continued growth and innovation as business & leisure travel numbers have returned to (and in some cases surpassed) post-pandemic levels. As we approach Q3, it is crucial to reflect upon the preceding quarters of the year thus far, and the industry trends to prepare for in Q3 & Q4.

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Q1 of 2023

Q1 experienced the most notable surge in bookings for hotels and resorts this year, with a remarkable 61% increase in travel bookings this January compared to the corresponding period last year. To meet this demand, Garnier-Thiebaut USA established a strategic partnership with FOODBUY, a leading procurement platform in the hospitality industry. Through this exciting opportunity, Garnier-Thiebaut USA's extensive catalog of high-quality linens is now readily accessible to over 80,000 members across more than 16,000 property locations via FOODBUY's renowned platform.

Another important development in Q1 for Garnier-Thiebaut USA, was the release of our new pool and beach terry catalog, DIVE. The Dive collection features 100% cotton terry loop pool linen in a variety of sizes, weights, and styles in line with current trends to compliment both the beach and poolside. Within DIVE, there are 12 collections in total, with currently available stock styles processing within 48 hours, while other terry towels can be obtained under a short lead time (SLT) of 4-6 weeks or through a special order (SO) lead time of 14-16 weeks to accommodate product customization.

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Q2 of 2023

During Q2, the Garnier-Thiebaut USA team had the privilege of participating in the highly attended 2023 National Restaurant Association Show held in Chicago, IL. As the world's largest foodservice trade association, the NRA serves as a valuable resource, providing industry research insights, comprehensive training programs, and networking opportunities to more than 40,000 professionals in the hotel and restaurant sector. As a member of the NRA, GT USA had the opportunity to showcase our latest table linen offerings, including the newest additions to GT Banquet Collections the Galet, Mirage, and Vinci designs to the attendees at this year's event.

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The NRA also served as an exceptional platform for us to reconnect with our valued chef partners, whom we wholeheartedly support through our "I ?? my chef" program. This program has been tremendously successful in fostering a supportive, culinary community, prompting us to expand its reach even further. You may have noticed a few familiar faces debuting prototypes of our "I ?? my chef" aprons, a testament to our commitment to celebrating and honoring the culinary professionals who contribute to the industry's excellence.

Looking Ahead to Q3 & Q4

As we look forward to Q3 and Q4, we are aware of the market trends that will influence the second half of this year. For example, 53% of all Americans have travel plans through November. While it is predicted that the average hotel occupancy rate will reach 61.8%, locations like New York City (77.3% ) are experiencing higher numbers. While GT USA celebrates these figures alongside our partners, we also recognize the shifting tides of travel wherein the increased cost of tickets, bookings, and related expenses have illuminated the importance of guest experience. Even with occupancy rates in mind, 1 in 4 travelers are projected to spend more on travel this summer due to economic impacts like inflation and the impact of rising fuel prices on airfare. Now more than ever before, the implicit value of services hospitality establishments offer is a focal point for consumers in determining where to stay or dine. Our dedicated Customer Service Teams and On-The-Field Representatives cater to the evolving demands of our partners with quality linens, and services tailored to maximize the tangible experiences your guests encounter throughout their stay.

As Garnier-Thiebaut USA embarks on the commencement of the third quarter, we do so with gratitude and aim to support the growth of this industry. We stand ready to embrace new possibilities through product development and strive to provide outstanding service & consistency to our esteemed hotel and restaurant partners. This commitment to delivering exceptional linens, customer service, and guest experience is fueled by our unwavering passion and relentless pursuit of excellence.?