Digging into California’s truffle industry
Few delicacies say “fine dining” like truffles. Notoriously hard to harvest, these luxe fungi can cost thousands of dollars, making them some of the most expensive ingredients. (Like the world’s largest white truffle, which sold for a whopping $61,000 in 2014.) Truffles are high maintenance. In addition to different truffles species needing their specific climates and trees (where they grow on the roots), they can take up to 20 years to develop. The mushrooms are also hard to find once they’re ready, so truffle hunters usually need a trained pig or dog to point them in the right direction. After all the harvesting work, truffles only stay fresh enough to eat for less than a week. These hard conditions don’t just justify the high cost of truffles, they also make growing them in your own backyard a little more convenient–and profitable. Just ask farmers in California. Where in the world are truffles? Although truffles require a long list of specifics before they can make it to world-renowned restaurants, surprisingly they can grow in several areas. However, most culinary truffles come from Europe, including Italy’s coveted white truffle. While Italy, France, and Spain still dominate the truffle market, countries like Australia (now the fourth-largest truffle industry
Top technological innovations for hotels in 2023
The hotel industry is rapidly evolving and with it, the technology. For this new year, major transformations are expected at the technological level that will modify the operation of many sectors, optimizing services and customer experiences. Today, I will talk to you especially about the main technological innovations that the hotel industry will experience this 2023. As a result of the new technologies that are emerging, it is becoming way more challenging to satisfy the expectations and demands of consumers, due to this, the hotel sector has the responsibility and need to keep up to date with new technological trends and adapt to them to provide a more personalized experience to customers and not failing on the face of the competition. In this sense, I will point out some of the main technological trends that the hotel industry offers and that transform the way they provide exclusive experiences to their guests. Contactless payments. This technological trend is very relevant, as it simplifies the transaction process, making it much more convenient and faster. The hotel industry, like many others, has considerably benefited from the technology of mobile phones and wearables, enjoying the advantage that customers can make their payments without the need to carry
Raise a glass to nonalcoholic beverage stores.
Have you heard of Dry January? How about Sober October or No Alcohol November? As the names suggest, these are months when people commit to giving up alcohol for a variety of reasons–from health to a change in interests and activities. Some people, however, are extending sobriety beyond these trendy months into a lifestyle. These days, it’s hard to walk into a store or browse your social media feed without seeing a non-alcoholic cocktail, beer, or wine. Last year, the volume of these products grew around 27 percent in the United States. Also in 2021, alcohol delivery app Drizly had a 166 percent increase in nonalcoholic products on their platform compared to 2019. This makes sense, considering sales for these beverages shot up 600 percent last year. With increased demand, as well as big brands like Heineken developing their own alcohol alternatives, it’s natural for entrepreneurs to hop on this beverage bandwagon in innovative ways. For example, nonalcoholic stores are popping up all across the United States. Earlier this year, Atlanta bottle shop Elemental Spirits Co. and nonalcoholic distributor Elemental Spirits Co. announced they were opening the Zero Co.–the Georgia capital’s first shop devoted to sober spirits. Elemental Spirits Co. founders were inspired to open the Zero Co. after experiencing the
The legendary Pappy Van Winkle.
If you’re a bourbon fan, you have undoubtedly heard of Pappy Van Winkle. I previously mentioned it in another blog as an example of the cult-like magnetism of certain high-end spirits. However, the story of this iconic brand deserves its own telling. Beginning in 1893, Julian “Pappy” Van Winkle was a salesman for W. L. Weller, and would eventually become president of the Stitzel-Weller Distillery. At that time, he was best known for being the first person to make and sell a mass-market fine whiskey that utilized wheat as its secondary grain rather than rye–a move that forever changed the face and taste of Kentucky whiskey. One of his labels, that was introduced just before prohibition, was Old Rip Van Winkle. His son, Julian Jr., would eventually take over. But, unfortunately, the American whiskey craze was dying down. And Junior sold off many of Stitzel-Weller’s barrels and brands–though the family retained Old Rip Van Winkle. When Julian III took over, he began by selling bourbons aged by his father and grandfather. Eventually, he began distilling his own–and later teamed up with Buffalo Trace distillery–creating the Pappy Van Winkle we all know today. It was around then that Pappy Van Winkle began to take off. Specifically, in 1996 after the Beverage Testing
Is the cruise industry making a comeback?
While many industries took major hits due to the pandemic, the cruise industry might have been one of the most publicized sectors in crisis. At the start of the pandemic, it wasn’t unusual to find headlines about outbreaks on cruises, passengers being stranded, or companies suspending travel. The industry also suffered a financial blow. In the United States alone, cruise line companies lost $63 billion between 2020 and 2021. Like much of the world, the cruise industry struggled to stay afloat. Not only were cruises affected by many countries’ travels restrictions, the industry also struggled in the stock market. For instance, shares for popular cruise line Carnival sank more than 30% in March 2020. Once vaccines became widely available, cruise companies put protocols in place to help ensure passenger safety. Now, however, as the world attempts to return to some sense of normalcy, the cruise industry is poised to do the same. Recently, major players like Royal Caribbean International and Princess Cruises have updated their pandemic protocols, making specific changes to vaccine and testing requirements. Passengers on Royal Caribbean cruises, for example, can now set sail whether they are vaccinated or not as long as they adhere to certain testing guidelines. Carnival Cruise Line also updated their policies
Why do investors love real estate?
The real estate sector has given much to talk about in recent years, becoming one of the most striking sectors for investors, thanks to the characteristics that make it a very tempting opportunity. From properties that serve as student accommodation to holiday homes have significantly transformed the real estate sector. Among the key factors that have made this sector increasingly rich are: Investors 2.0 who have decided to diversify their investments, moving away from the traditional sector such as the "build to rent" BTR. The high demand of consumers together with increasingly sophisticated requirements. Hospitality Insights highlights that the population today is growing without "sufficient" housing, a situation that may be influencing the high price of homes in the current market. As philanthropist Andrew Carnegie said, "90% of millionaires made their wealth when they started investing in the real estate world". Although it is true, after the pandemic caused by Covid-19, this sector has grown markedly in developed countries, arousing interest in investors. Finally, if you are interested in starting to invest in the real estate sector, this is your moment. Many properties and buildings were paralyzed as a result of the Covid-19 pandemic, so the current housing market is still limited, however, consumer demand
Is it a good time to invest in the hotel sector?
The hotel sector has recovered after being interrupted by hotel investments because of the impact of the Covid-19 and its respective restrictions imposed, investors globally have shown a strong precipitated interest in the hotel industry. Investors are reinventing themselves in conjunction with consumer preferences and demands towards responsible consumption, focusing their actions on socially responsible investments. This type of investment is more attractive to investors looking for properties according to the characteristics and requirements of the market. According to the Colliers International report, in the first three months of 2022, hotel investment closed with a total volume of 1,520 million euros, a surprising figure that exceeds that recorded in recent years, a total of 52 operations with the purchase of existing hotels, land for the development of the same and to be converted to hotels. Evidencing the recovery of the hotel sector, the pandemic has generated opportunities in adding value to assets, to give hotels the opportunity to adapt actions to the changes and behaviors of consumers with the challenge of keeping up with new trends and technologies, in my opinion it is ideal to invest in the hotel sector. Certainly, the future of hotel investment lies in socially responsible investments.
Digital transformation the future of restaurants
The conversation around the food and beverage industry is constantly growing. In the first quarter of 2022, there has been a 19% increase in online conversations about dining out, restaurants, bars, food and drink compared to the previous period. Foodies are keen to explore new and not-so-new restaurants as the economy recovers. Although innovation represents a key element for the future of the sector and is being so in the present, the restaurant market is experiencing a moment of transformation and digitization, which requires professional investment that allows the creation of solid and high-quality companies. potential. I consider that the NÜA Smart Restaurant is a great example, and it is the first smart restaurant in Europe in Spain, decorated with futuristic lights, LED screens and interactive touch screen tables, applying technology as an ally with a different concept and innovation. Also, the future is coming to the restaurant market, the digital transformation has changed the actions of the restaurant market. The sector has developed the ability to reinvent itself, using technological tools in its digital actions, in offering personalization and differential experience to customers, sales opportunities and streamlining the purchase process, helping businesses to be more efficient, attractive, profitable and sustainable. The path to
Do ESG criteria increase the value of the company?
When talking about ESG investments, they refer to those that consider environmental, social and governance factors, in conjunction with financial factors, in the decision-making process to invest. Currently, as investors we are faced with new risk factors that lead us to rethink investment approaches. For example, there are the challenges of global sustainability in all its variations, as well as demographic changes and regulatory pressures. In this way, ESG investments arise − and grow annually −, which are based on three lines of action: thematic investments or those that integrate ESG criteria in their portfolios; investments aligned with the values and moral beliefs of an organization or individual; impact investments that seek to combine positive social or environmental benefits with a financial return. Therefore, if you are thinking of making investments with an ESG focus, you must answer questions such as: how much does the company in question contribute to the environmental impact? What actions does it take − or fail to take − to reduce carbon dioxide emissions? How do you improve social impact? And so we could continue with endless questions, all of them linked to the adoption of ESG criteria when investing. Of course, as in everything that is a
Beacons as a key tool in the hotel sector
Undoubtedly, beacons are a technology created to improve interactions with customers, these are small technological devices that came to revolutionize the retail market. Likewise, it is a technology that can be very beneficial for the hotel sector. However, despite the fact that beacons have been on the market for around 8 years, they are not as widely used by the hotel sector. Today I want to share with you how this can be a marketing strategy, improving the user experience. It should be noted that the way in which beacons work is through bluetooth signals emitted to devices approximately 50 meters away in a defined location. In the case of hotels, this can be a useful and profitable tool to improve the consumer experience, such as reducing time and at the same time automating the check-in process when the traveler arrives at their destination, where the guest from If you arrive at said facility by means of a notification, you can confirm your reservation and fulfill other requirements. In the same way, through geographic spaces around the hotel facility, users can learn about points of interest, either places to visit, such as relevant information on the restaurants that they can enjoy both