I’m making it a point to begin these letters with the chit chat you would expect when entering the lobby of the grand hotel of the internet that is tPH. How has your stay been so far? Can I bring you something to drink?

The previous edition of The Lobby sparked interesting conversation, and it makes me véry glad to be your cultural concierge. Alas, have a seat and enjoy the following curation of hospitality trends and news.

Welcome to The Lobby_, a roundup of what’s happening in hospitality, served with a point of view.

In this letter: LVMHs death drop, fashion is losing its footing in terms of cultural capital, the timing of Demna’s new Gucci campaign, American diner romanticism, and Nobu’s aggressive venture into branded residences.

• Fashion giant LVMH experiences worst quarter on record. The company’s stock in Q1 fell 28%, something that the company did not experience even under the 2008 financial crisis. CEO Bernard Arnault consequently has a wallet that’s approximately $55.4 billion lighter. If the luxury industry hadn’t felt panic thus far, these results are sure to spark some, as LVMH is kind of treated as the indicator for the temperature of luxury as a whole. Other, converging factors such as supply chain disruptions and consumer spending tightening or migrating elsewhere are not ameliorating the situation. That said, we have just very recently witnessed what has been dubbed the creative director musical chairs, where many of the industry’s legacy maisons appointed a new conductor for the show – and quite possibly, the eventual effects of these refreshments may not yet have manifested.

• Considering the above, it probably goes without saying that the cultural monopoly of fashion is declining as other categories have become significantly hotter. Highsnobiety’s new report mentions ”getting on the guest list for the latest restaurant or bar opening” and ”staying at the hottest IYKYK hotel” as the in-the-know signals of today, as opposed to owning the it bag of the season. We also got some fun stats such as 86% of respondents think being friends with the chef at the hottest restaurant in town is a green flag, as opposed to 14% thinking the same about someone who shows up to dinner with the latest item from a luxury fashion house. In other words, luxury fashion has lost its signaling power, and the reasons are many: Gen Z appreciates everyday items as signals, and the price hikes of luxury goods are oftentimes not backed by substance.

  Another interesting point worth highlighting is that food and beverages have historically already had their signaling power (think caviar and champagne), but the effect is now extending to $20 dollar Erewhon smoothies and imported French butter (I’m looking at my sister who brought home air-vacuumed seaweed butter from Paris). Considering all of this and the disillusionment with luxury houses, the timing of Demna’s new Gucci campaign that is monogrammed to the gods is interesting.

  Still, if we only look at the luxury industry in a silo, the editorial nods at 90s trashy chic and stars Kate Moss - yet another nail in the coffin of the clean girl interested in sleek aesthetics. tPH’s inaugural post dives a bit deeper into why I think hospitality is inheriting the mantle from luxury goods as the ultimate cultural signifier.

• American diner romanticism is on the rise. The Financial Times recently ran a story about the resurgence of the classic American diner. Due to rising operation costs and inflation, many of these institutions have been forced to close down. But like FT stated, it’s not because no one cares for pancakes with bacon and maple syrup anymore (I know I do!). In fact, McKinsey reported that especially GenZ is into sit-down restaurants over other kinds of food experiences. Food quality and portion size are named as the biggest disappointments people face when eating at restaurants, and we all know that the classic American diner does not skimp on portion sizes!

  I think leaning into romanticism and reinventing beloved concepts is a thing we will continue to see across the hospitality industry. Perhaps we’ll see more traditional hotel uniforms or a rebranding of the cigar lounge now that we have buried the clean girl?

• Nobu bets big on branded residences with the pipeline of new properties extending from Mexico to… Manchester? In fact, Nobu is one of the fastest-expanding brands in the space when it comes to non-hotel brands. Also the Manchester plans are real, which is so interesting to me – Nobu is embracing a market that is not traditionally stamped as luxurious.

  Many of these projects are not standalone and will be connected to upcoming Nobu hotels. I have to be honest - I’m still puzzled by the branded residences boom, and I keep wondering a) who are the people living in them and b) what happens to brand perception when the realities of a new build hit? I personally am a fan of the brand, and serendipiously met Chef Nobu himself at his Milan restaurant. And did you know that Robert de Niro is a partner and apparently the aesthetic brain behind Nobu hospitality? Very interesting.

  However, while we know that branded residences can be a great move for brands in the short term (the price premiums are ridiculously high), I think the risk crumbling paint or lackluster amenities can pose to brand perception in the long term needs to be factored in. There is a way to do it well, but how many manage to?

  We are moving away from ultra-polished picture-perfect aesthetics signified by the clean girl. New (but old) classic diners are popping up, and I think even more nostalgic concepts will make their resurgence. Brands that did not have their origins in hotels are betting hard on hospitality, and this is not a surprise considering how the cultural capital of a smoothie can now exceed that of a designer handbag.

  

Sharing what I’m reading, watching, or listening to; hospitality-related or not.

As we all know, hospitality does not just exist in the institutions of hotels and restaurants, but also (and maybe primarily so) in the home. And the unequivocal queen of building an atmosphere and hosting is Martha Stewart. I was around 10 years old when my mom got me a book with a compiled array of Martha’s crafts.

Mila of enlightened me to the existence of the Martha Stewart documentary on Netflix, and it was fantastic. Less about her hosting skills, the focus of the film is on how she has been able reinvent herself again and again in the face of adversity. I love her and long live Martha Stewart.

A hotel that has been on my radar.

My sister-in-law recently told me she booked a two-week meditation and yoga retreat in Thailand. She explained that visiting the country properly has been one of those things that just keeps calling her and she has no clue why, so she finally decided to bite the bullet.

This conversation reminded me that I have my own unfinished business in Thailand, namely, that I need to visit the RAKxa Wellness Clinic.

Avid fans of this Bangkok property include supermodel Jourdan Dunn, and no wonder – RAKxa runs an intense af array of ultra-personalized wellness programs for any purpose, wether you want to detox, live forever, get snatched, or all of the above.

As the wellness and longevity travel economy is becoming an ever-hotter topic, I think the appropriate thing to do would be to fly over and do some tPH coverage. (RAKxa also runs a spa in Florence, maybe I should check that out first during my trip to Italy this summer? Eep!).

That’s all for this edition of The Lobby. Thanks for stopping by.

🔑 Emma

I have been going to lymphatic drainage yoga twice a week, and let me tell you, it gets the juices flowing. Here I present to you my thoughts about current industry (adjacent) news that were revealed to me in savasana.

Welcome to The Lobby_, a roundup of what’s happening in hospitality, served with a point of view.

In this letter: engineering is out tastemaking is in, more fashion entrants into hospitality, spot the difference Noma/Hell’s Kitchen, and the Hollywood stamp of approval on hospitality being the last luxury.

• Snapchat CEO says marketing will be more important than engineering. We have moved to a level of maturation with AI that I can personally fw. As a storyteller, a writer, (and a philosopher, if you will), I feel validated by Evan Spiegel’s recent declaration that now that AI (instead of a roomful of super smart people) can build anything, the best story is what will move the needle going forward. We have heard a similar sentiment from OpenAI's Greg Brockman, who said that taste is now the ultimate differentiator. All of this is great news for hospitality, or rather, potentially great news that can only be realized with investing into narrative and emotional resonance and atmosphere that are so intrinsic to the industry. His exact words here.

• Cult brand Chrome Hearts enters hospitality. The luxury label known for emo silver work and trashing the hotel room energy (and just to be clear, we are a fan of this at tPH) has acquired the Surfrider Hotel in Malibu. The design is bespoke and true to the brand, incorporating silver hardware and the brand’s own furniture. I love when so many of my intuitions just keep manifesting. We’re seeing fashion continuing to bet on hospitality, and not just legacy maisons, but what the cool kids are wearing!!! I’m so proud I could shed a tear. Moreover, we have some experiential retail going on with an in-hotel private boutique selling exclusive pieces only available to guests.

  

• Oscars gift bags this year were hospitality galore. This year’s Oscars nominee gift bags were valued at $346,000, of which physical items made up $6,000. The rest is luxury villa stays in Costa Rica, Ibiza, and Finnish Lapland (shoutout to Hideout Villas), a ten-day wellness reset in Sri Lanka, and to my amusement, liposuction and a custom prenuptial agreement. This means that $200,000 of the bag’s value is hospitality experiences. I can tell you two things 1) I need to get nominated at the Oscars pronto 2) the scale tipping so heavily into experiences over products tells us a lot about what is seen as valuable in 2026. Mind you, the recipients are A-list celebrities and the most luxe thing they can be offered is the cultural capital brought about by niche hospitality experiences.

  

• Noma’s René Redzepi exposed for years of physical abuse. The New York Times just published an investigation interviewing 35 former Noma employees documenting physical and verbal abuse by founding chef René Redzepi from 2009 to 2017. One gory story involved Redzepi ordering his entire kitchen staff outside during a dinner rush to witness him assault a sous-chef. The news involve one of the world’s most celebrated restaurants, essentially the poster child for culinary innovation, and has sparked interesting conversations on restaurant-stack (read this, this, and this).

  Hospitality is starting to get more cultural visibility. We have had hit shows like the Bear and White Lotus. But cultural visibility does not come without accountability. When hospitality enters the zeitgeist, there will be scrutiny and questioning. This is good, and consider me sat.

  I wanted to hear the thoughts of my friend who has worked as a chef at Michelin-starred restaurants, and here’s what he said:

  

  What bamboozled me to the core is what he mentioned about the now-deleted comments on Noma’s page where some people are essentially justifying the abuse that takes place in high-end kitchens. One comment said:

  “I feel like a lot of people in the comments have never worked in kitchens, and if they have, not at the level noma used to operate. If you did you would see that all of those actions and decisions made noma what it is. The work is relentless. You need to be strong, mentally and physically. You need to be dedicated. This is the choice you make when being the best, and I respect it.”

  Like my friend said, the sentiment is far from ideal, but at least we have arrived at some collective awareness.

In short, there are many signals from unprecedented directions pointing to hospitality, be it restaurants or hotels, becoming recognized for the cultural capital the industry carries.

That said, with more awareness comes difficult but very necessary conversations. The hospitality industry is for instance notorious for high employee turnover rates, and hopefully, some deserved public scrutiny will finally instigate some real change.

Phewww that was a bit heavy. I think we need to wind down by the nightstand.

Sharing what I'm reading, watching, or listening to; hospitality-related or not.

In the last edition of the Lobby, I did a roundup of my some hospitality literature that I have on my to-be-read list. But I have taken a little detour to familiarize myself with Rick Rubin’s work. Rubin has worked with (and this is not an exaggeration) everyone in the music industry, from Paul McCartney to Jay-Z.

His 2023 book titled The Creative Act is a collection of his musings about creativity, how it’s innate to being human, how we are not really owners of our ideas but vessels for a greater force that is the actual source of everything we create.

So I have highlighted the hell out of this book because I feel like it’s so metaphorical to hospitality. You know how great service can feel almost magical, creating an atmosphere of its own? I think that happens when hospitality professionals tap into a source larger than themselves; they are in service of something greater than this one person alone.

If you have read the book I would love to hear your thoughts.

A hotel that has been on my radar.

I’ve been on an NYC boutique hotel rampage, as I’m doing research for a Q3 press trip. If you haven’t heard of the Bowery Hotel, you’re welcome.

More exclusive coverage coming later this year, but I couldn’t help but to already lean into the vibes.

That’s all for this edition of The Lobby. Thanks for stopping by.

🔑 Emma

the time has come for the first edition of tPH’s hospitality news roundup. In these letters, I share the industry knowledge that has piqued my curiosity as well as other topics of interest.

My goal is to not only relay the information but to add a fresh point of view courtesy of yours truly.

Let’s dive in!

Welcome to The Lobby_, a roundup of what’s happening in hospitality, served with a point of view.

In this letter: Soho House goes private (again), Louis Vuitton says no to hotels, Marriott and Hilton prepare for their AI villain arc, and Aman sets sail.

• Soho House has been taken private after a five-year, not-so wildly successful stint on the stock market. The share price towards the end was significantly below its IPO valuation. The $2.7 billion deal almost fell through but was saved by a last-minute alternative financing of $200 million. One investor is none other than Ashton Kutcher. The private members club has never been profitable despite a growing number of members, and the question remains if the model lends itself to turning a profit to begin with. More members reduces the core value prop of a curated community. I will be following the company under its new private ownership closely to see if they have noticed an opportunity for a turnaround that at least I have missed. Read more here, here and here.

  

• There will not be a Louis Vuitton hotel after all. Mr. Arnault himself came out to say that “Vuitton’s not going to go into the hotel business”. The speculation has been abundant, but the LVMH CEO assures that the brand wants to retain its focus and not diversify. Too bad I SWOT analyzed the hypothetical property for EHL Insights literally a week before Arnault squashed the rumors and my LinkedIn still seems to be flooded with people who are convinced that the hotel is, in fact, happening. While there may not be an actual LV hotel, the brand’s stores have leaned into the aesthetic lately. Immersive retail galore!

• Marriott and Hilton are getting scared AF about AI. As we know, direct bookings are very important for hotels, as other booking channels such as OTAs can get very expensive and squeeze margins into oblivion. Now some activity has been sniffed in the legal teams of global chains regarding the risks AI could pose for the companies’ cost of sales. While AI is not charging commissions for bookings made through the platform (yet), it does have the potential to become an OTA final boss making Booking.com and Expedia look like Bowser Jr. in contrast.

• Serene and silent at sea? Aman is one of the latest luxury hospitality brands to set sail. Loyal to its core, the marketing edge seems to be a) exclusivity with the boat only hosting 47 suites, and b) the unparalleled level of service the brand is known for. The vessel is named Amangati (surely, they must soon run out of names to put after Aman), and its itinerary traces the shores of the Mediterranean. The design SCREAMS whispers Aman. A Reddit user articulated what I didn’t dare to: “tbh I would spend the money on a smaller boat for a private charter rather than spend so much for a glorified cruise ship. Who is this even for?”. But the increasing amount of brands rushing into this space, including the Orient Express, there must be serious trust in the model. And please, I would love my skepticism to be proved wrong!

The overarching theme seems to be legacy brands figuring out what they want to be (and whether they can afford to stay as they are). More on that soon. But first, what’s on my nightstand!

A new section! Here I'll share what I'm reading, watching, or listening to; hospitality-related or not. Consider it a peek into what's shaping my thinking.

I’m currently reading Setting the Table by Danny Meyer. I’m slowly but surely working my way through the must reads of hospitality literature (which I feel like there are not that many of? Please correct me if I’m wrong!!!).

After finishing the cult classic Unreasonable Hospitality, I moved on to the adjacent work by Meyer, the former boss of Will Guidara and the brain behind the gift to the world that is Shake Shack (among other very esteemed and iconic dining establishments of his).

I love reading hospitality leaders’ accounts of their successes and failures and what they think makes human care so important.

Other works on my list include:

• Kitchen Confidential by Anthony Bourdain

• Hospitality Vibes by Maggie Chen

• Four Seasons: The Story of a Business Philosophy by Isadore Sharp

• Hotel Splendide by Ludwig Bemelmans

• The New Gold Standard by Joseph a Michelli

• Excellence Wins by Horst Schulzs

Any favorites of yours that I missed? Let me know!

A hotel that has been on my radar.

The premium global affairs and lifestyle magazine Monocle is opening a townhouse in collaboration with Zürich’s iconic boutique hotel Widder, taking a step deeper into hospitality following their successful concept cafés.

The magazine’s ethos of curation and quality lends itself beautiful to lived space that’s filled with bespoke furniture from brands such as Moebe and Olaio. The radio is naturally turned to the wavelengths of Monocle radio and guests enjoy daily housekeeping, round the clock concierge and private dining experiences. Read more.

That’s all for this edition of The Lobby. Thanks for stopping by.

🔑 Emma