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1. Nassetta Highest-Paid Hotel CEO on S&P 500
In a Wall Street Journal analysis of S&P 500 executives, Hilton President and CEO Chris Nassetta led all hotel chief executive officers in total 2023 pay at $26.6 million. Marriott International President and CEO Anthony Capuano followed at $22.7 million.
Nassetta and Capuano are the only two hotel executives to crack the top 100 on this list, placing at Nos. 51 and 89, respectively.
2. Kempinski Hotels Names New CEO
Swiss hotel firm Kempinski Hotels appointed Barbara Muckermann as its new CEO, HNN's Terence Baker reports. Muckermann joins the company from Silverseas Cruises, where she was the president and CEO. She is the first female CEO in Kempinski's 127-year history.
“I am delighted to play an integral role in this incredibly iconic brand’s next chapter while honoring its rich history,” she said. Kempinski currently has a portfolio of 82 hotels in 36 countries. The Geneva-based firm has a pipeline of 34 hotels.
3. Incentive Travel Gains Momentum
Incentive travel, which is when companies reward their employees with trips, is growing rapidly. The segment has an estimated compound annual growth rate of 12.1% from 2022 to 2031, HNN contributor Harvey Chipkin reports.
“You can throw bonuses at employees and all kinds of extras, but travel is the most powerful motivator,” said Janel Carnero, a luxury travel adviser with the Embark Collective.
Hotel companies are seeing the growth in incentive travel. Kristen Lindgren, vice president of sales and marketing operations at Sage Hospitality Group, said its incentive business books were up 12% year over year in March and up 21% year over year in February.
4. Mount Fuji Trail To Set Climbing Limits
The Yoshida Trail on the Yamanashi side of Japan's Mount Fuji will restrict the amount of hikers to 4,000 a day for a fee of 2,000 yen ($18) to help with crowds and littering on the mountain, the Associated Press reports. The new rules will go into effect this climbing season, which runs from July 1 to Sept. 10.
Of the 4,000 hiker slots a day, 3,000 will be available to schedule online and 1,000 will be reserved to book in person.
"Under the new system, climbers must choose between a day hike or an overnight stay at the several available huts along the trail. The day of their climb, they are given a QR code to be scanned at the 5th station. Those who have not booked an overnight hut will be sent back down and not allowed to climb between 4 p.m. and 3 a.m., mainly to stop 'bullet climbing,' or rushing to the summit without adequate rest, which authorities are worried puts lives at risk," the AP reports.
5. Auction for Dubai Luxury Hotel Paused
An auction for Palazzo Versace, a luxury Dubai hotel, was suspended a little more than 24 hours before bidding was scheduled to close, Gulf News reports. The hotel was put up for auction last week with a base price of 1.34 billion Emirati dirhams ($364.9 million), and bidders were given a five-day window to make offers.
The property had not received any bids prior to the suspension, but offers usually do not occur until closer to the end of the bidding window, the news outlet reports.
Editor’s note: Chris Nassetta serves on the board of directors for Hotel News Now’s parent company, CoStar Group.