The Michelin Guide awards 189 Keys to the top hotels in France, Saudi Arabia forced to downsize expectations for Neom, and a preview of what to expect from this year’s Milan Design Week. All that and more in this week’s Five on Friday.
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Hotel CEOs compensation soared in 2023
Accor CEO Sébastian Bazin; photo courtesy of NYU International Hospitality Industry Investment Conference
Skift reviewed the compensation of seven hotel CEOs for 2023 and found that paydays reached astronomical numbers, with Hilton’s Christopher Nassetta leading the pack with a total compensation of $56.8 million. (Hilton’s stock rose 42 percent last year, with Nassetta receiving $16.3 million in stock awards tied to his performance.) Most CEOs received bigger pay packages in 2023 than they did in 2022. The list included Mark Hoplamazian, Hyatt ($56.4 million); Anthony Capuano, Marriott ($55.5 million); Geoffrey Ballotti, Wyndham ($16 million); Patrick Pacious, Choice Hotels ($6.2 million); Sébastian Bazin, Accor ($6 million); and Elie Maalouf, IHG ($4.9 million).
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Michelin picks top hotels in France in first-ever ranking
The Peter Marino-designed Cheval Blanc Paris, which was awarded three keys in Michelin’s inaugural hotel guide; photo by Alexandre Tabaste
The Michelin Guide, known for its restaurant ratings, announced its inaugural Michelin Keys for France, marking its first foray into hotels, writes Forbes. Like the restaurant guide, the Michelin Keys range from one key to three keys, bestowed on establishments offering the most remarkable stay experience. In France, 189 keys were awarded with 24 properties being awarded the coveted three keys. Among those were Paris hotels including Four Seasons Hotel George V, Saint James Paris, and Cheval Blanc Paris. The latter was transformed by Peter Marino in 2021 as an homage to the Art Deco building designed in the late 1920s by architect Henri Sauvage for Parisian department store Samaritaine. Following France, the Michelin Keys will be announced in the U.S. on April 24th, Spain on April 29th, Italy on May 7th, and Tokyo on July 4th, with other destinations following throughout the year.
What to expect from this year’s Salone del Mobile
The Good Plastic Company teamed up with StudioXAG for Hello, Earth Speaking, slated to be revealed during Salone del Mobile next week; photo courtesy of the Good Plastic Company/NovitÃ
Salone del Mobile kicks off in Milan on April 16th, showcasing a series of events, installations, presentations, and product debuts that are both inspirational and aspirational. This year’s fair, writes Wallpaper, will include a new cultural program as well as the biannual Eurocucina and the International Bathroom Exhibition. Key installations include Jasper Morrison’s Emeco to Emeco, toasting to 80 years of the American brand, as well as the Good Plastic Company’s exhibition with StudioXAG for Hello, Earth Speaking, an interactive exhibit crafted entirely from Polygood, a 100 percent recycled and recyclable material. Design houses will also be unveiling projects around town as part of Milan Design Week. Take Poltrona Frau’s Vanity Fair XC armchair, reimagined in 50 versions including one with suns and moons in motion.
Saudi Arabia scales back plans for Neom
The Line, a glass-walled smart city in Neom initially conceived to stretch 150 miles is now expected to reach only a mile and a half by 2030; rendering courtesy of Neom
The financial realities of Saudi Arabia’s ambitious $500 billion futuristic city Neom have started to cause concern within the government. Bloomberg first reported on the scaling down of Prince Mohammed’s centerpiece Red Sea project, noting that the sovereign wealth fund has yet to approve Neom’s budget for 2024. Indeed, signs of trouble appeared when the Gulf kingdom significantly reduced estimates for the number of people expected to settle in the Line. The glass-walled city is expected to house fewer than 300,000 residents—a stark decrease from the estimated 1.5 million residents. Further, in February, a report in The Wall Street Journal said Saudi Arabia was borrowing to help fund the array of ambitious projects in the plan, including Neom.
Nominations open for ISHP Vendor Quality Awards
The Manchester in Lexington, Kentucky, designed by Jenny Bukovec with purchasing by the Parker Company; senior project manager Aine O’Connor is the president of ISHP; photo by Matt Kisiday
Every year, the International Society of Hospitality Purchasers (ISHP) recognizes a particular vendor who has demonstrated significant dedication and commitment to providing a high quality of service and product. Honorees must demonstrate consistency, on-time delivery, innovation and design, communication and collaboration, and product quality. For the first time, this year’s winner will be revealed during the HD Awards ceremony at the Four Seasons Hotel Las Vegas on April 30th during HD Expo + Conference. The deadline to enter is Wednesday, April 24th. Submit your nominations today!
