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Branded Hotels Sector To End FY25 With 13–14% Revenue Growth, Says Crisil RatingsMichael Croley | (TNS) Bloomberg News In the old days of 2016, when golfers visited the Dormie Club in West End, North Carolina — 15 minutes from the hotbed of American golf, Pinehurst — they were greeted by a small, single-wide trailer and a rugged pine straw parking lot. Related Articles Travel | A preview of some stunning hotels and resorts opening in 2025 Travel | Travel scams that can hurt your credit or finances Travel | Travel: Paddle the Loxahatchee River, one of two National Wild and Scenic Rivers in Florida Travel | California State Parks to offer 90+ guided First Day Hikes on Jan. 1 Travel | 7 family-friendly ski resorts in the US that won’t break the bank That trailer is now long gone. A gate has been installed at the club’s entrance and a long driveway leads to a grand turnaround that sweeps you past a new modern clubhouse that’s all right angles, with floor-to-ceiling glass. Seconds after you exit your car, valets are zipping up in golf carts, taking your name, then your bags, handing you keys to your own golf cart, and then zipping off to drop your luggage in the four-bedroom cottage where you’ll stay. A short walk past an expansive putting green you’ll find the pro shop — and then you’ll see the club’s most elegant feature: its golf course. The changes have all come about because Dormie Club was acquired in 2017 by the Dormie Network, a national group that owns seven private golf facilities from Nebraska to New Jersey. (“Dormie” is a word for being ahead in golf — the names were coincidences.) A key to the network’s success has been its ability to find clubs ripe for acquisition, with outstanding golf courses and existing on-site lodging or the room to build it, says Zach Peed, president of the company and its driving force. After investing in Arbor Links Golf Club in Nebraska City, Nebraska, in late 2015, Peed believed he saw an opening in the golf market: a new model of hospitality for traveling professionals who wanted a pure golf experience that eschewed the pools and pickleball courts of their home clubs. His clubs would become dream golf-only getaways for avid players and their pals. “Dormie Network’s concept was sparked by having played competitive golf in college, combined with an element of experiencing and understanding hospitality,” says Peed. “It made sense to blend the two to create golf trips that had more value than just playing golf. We want genuine hospitality to help create unforgettable memories and new friendships.” Part of that formula has been in the lodging strategy; in North Carolina, 15 four-bedroom cottages now are a short golf cart ride from the main clubhouse. In each, golfers all have their own king-size bed and en suite bathroom. A large common room is dominated by a flatscreen television along with a well-stocked bar and snacks. That ability to be both social, or tucked away in your room, extends to the expansive new clubhouse, where a high-ceilinged bar area with blond wood creates an inviting space for dining and drinking, and several hideaway rooms allow for more private diners with just your group. So far, their commitment to hospitality has been helping them expand in both membership and club usage in the increasingly competitive market for traveling golfers. Major players such as Bandon Dunes, Pinehurst Resort, and the Cabot Collection have created — or renovated — a new paradigm where golfers get dining and lodging that’s as showcase-worthy as the courses they play. Comfortable sheets and options beyond pub food aren’t luxuries anymore, but staples for many group trips. Dormie has answered that call by focusing on both the big details and the small ones, like having the dew wiped off each golf cart at dawn outside guest cottages before the day begins or having a tray of cocktails delivered to golfers as their final putt falls on the 18th green. These touches may seem over-the-top, but they stand out in a world where golf travel is increasingly popular — and expensive — after the pandemic lockdowns. Since 2020 there has been an explosion in participation in the sport, with new golfers picking up the game and avid golfers playing more: According to the National Golf Foundation, a record 531 million rounds were played in 2023, surpassing the high of 529 million set in 2021. Supreme Golf, a public golf booking website, reports in its latest analysis that the average cost of a tee time has increased to $49 in 2024 from $38 in 2019, a 30% increase. Those cost increases are also on par (pun intended) with the costs of private clubs and initiation fees during that same period, where membership rosters that were dwindling pre-COVID now have waitlists 50 to 60 people deep, according to Jason Becker, co-founder and chief executive officer of Golf Life Navigators, which matches homebuyers with golf course communities. “There’s been an absolute run on private golf. If we use southwest Florida as an example, where there are 158 golf communities, this time last November, only five had memberships available,” he said. That inability to find a club close to home has pushed avid golfers to look farther afield, choosing national memberships at clubs that require traveling, usually via plane, to play. Dormie has capitalized on this growing segment, offering two types of memberships: First, a national membership, where members pay an initiation fee and monthly dues just as they would at a local club, but instead of one club they have access to seven. The second option is a signature membership for companies, “which allows businesses to use our properties for entertainment needs and requires a multiyear commitment,” Peed says. The network also offers a limited number of regional memberships for those living within a certain distance of one of its clubs. Dormie Network declined to provide the cost of memberships or monthly dues and wouldn’t give membership numbers, but the clubs are structured to lodge roughly 60 golfers, max, on-site at any given property at any time. The total number of beds across the network’s portfolio of properties has increased from 84 in 2019 to 432 today. It saw a jump from 10,000 room nights in 2019 to 48,000 in 2023. This September, Dormie opened GrayBull in Maxwell, in Nebraska’s, Sandhills region. Dormie Network tabbed David McLay Kidd to build the course, who also built the original course at Oregon’s famed Bandon Dunes. Kidd says of the property GrayBull sits on, “It’s like the Goldilocks thing: not too flat, not too steep. It’s kind of in a bowl that looks inwards, and there are no bad views.” That kind of remote destination, where the long-range views are only Mother Nature or other golf holes, is what drives many traveling golfers these days. Peed says his team leaned on years of knowledge from Dormie’s acquisitions as they built GrayBull, which started construction in 2022. “We had an understanding of how our members and guests use the clubs that allowed us to take a blank canvas in the Sandhills of Nebraska and combine all of the greatest aspects of each Dormie property into one.” ©2024 Bloomberg L.P. Visit bloomberg.com. Distributed by Tribune Content Agency, LLC.Mastercard Now Offering Kount Payment Fraud Prevention and Chargeback Mitigation to Payment Providers and Merchants ATLANTA and NORTHAMPTON, Mass. , Dec. 5, 2024 /PRNewswire/ -- Equifax ® (NYSE: EFX) and Mastercard (NYSE: MA) have joined forces to empower Latin American financial institutions, payment service providers, acquiring banks, and merchants to overcome payment fraud challenges without disruption to the customer experience. Enhanced fraud management tools, including Mastercard Identity, Ethoca Alerts and Ethoca Consumer Clarity are now available to Mastercard business customers in Latin America through the Kount Payment Fraud solution from Equifax. The combined solutions protect the entire digital payments environment through identity verification and fraud risk assessment while preventing chargebacks through order validation and alerting services. Latin America has one of the highest fraud rates globally, with studies showing that merchants are losing upward of 4.6% of their e-commerce revenue to payment fraud . With e-commerce revenue expected to nearly double in the region from $85 billion in 2021 to $160 billion by next year , Equifax and Mastercard are helping empower businesses to achieve their full growth potential by stopping threats in real time. The Kount Payment Fraud solution from Equifax is used by more than 20,000 businesses operating in more than 40 countries around the world due to its real-time fraud prevention capabilities during transactions. "As a global leader in fraud prevention, we are thrilled to work with Mastercard to help Latin American merchants and partners combat fraud and continue to innovate across the financial sector," commented Chris Jones , President of Equifax Latin America. "This strategic alignment will provide safer payment transactions and reduce chargebacks, enabling businesses of all sizes in Latin America to improve their bottom line." "Adding to our existing capabilities, this collaboration is the next step in our journey to make the digital economy safe and more seamless for payment providers and merchants in the region," said Ana Lucia Magliano , Executive Vice President, Services, Mastercard Latin America and the Caribbean . "By working together, we're advancing our shared goal of not only meeting the payments ecosystem security needs, but also addressing a broader effort to enhance the consumer's digital experience." The Kount Payment Fraud solution is available in collaboration with Mastercard to financial institutions, payment service providers, acquirers, merchants and others across Latin America , excluding Brazil . For more details, visit https://kount.com/equifax-mastercard . ABOUT EQUIFAX INC. At Equifax (NYSE: EFX ), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by nearly 15,000 employees worldwide, Equifax operates or has investments in 24 countries in North America , Central and South America , Europe , and the Asia Pacific region. For more information, visit Equifax.com . ABOUT MASTERCARD Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all. FOR MORE INFORMATION: Mario Arrua ( Latin America ) or Tiffany Smith (US) for Equifax mediainquiries@equifax.com Andrea Denadai for Mastercard Andrea.denadai@mastercard.com View original content to download multimedia: https://www.prnewswire.com/news-releases/equifax-and-mastercard-join-forces-to-combat-payment-fraud-in-latin-america-302322882.html SOURCE Equifax Inc.
Veeco Announces Upcoming Investor EventsWhat many finance teams want for the holidays this year is an automated back office. As the calendar years’ worth of PYMNTS Intelligence studies have shown, accounts payable (AP) and accounts receivable (AR) automation are increasingly becoming key areas of focus for businesses looking to eliminate manual B2B processes and corral their disorganized tech stacks. AP and AR automation tools are helping organizations streamline workflows, improve cash flow, and reduce costs. But what are the actual business processes being impacted by AP and AR automation, and how does each individual step compare to traditional methods ? The short answer is, it depends; and the long answer is, it’s complex. The B2B payments landscape is a sophisticated one where one size never fits all. Yet as financial infrastructures become more digital and interconnected — and CFOs and treasurers demand real-time insights into working capital — automation is increasingly being eyed as a way to transform B2B business functions that have traditionally been a cost center into ones that can serve as a strategic enabler of growth. The future of B2B payments lies in embracing digital innovations and automation technologies to unlock efficiency, security and scalability. This makes it crucial for business to understand just what they are looking to get out of AP or AR automation — and then going out and getting it. Read more: OCR’s Key Role in Scaling Paperless Invoicing and AP/AR Automation Transforming AP Processes from Invoice to Payment PYMNTS Intelligence finds that businesses continue to struggle with AP systems that rely predominantly on inefficient, manual processes. 63% of CFOs say their companies’ AP functions have encountered delays. Invoice capture; approval workflows; payment scheduling; fraud detection and compliance; and reporting and reconciliations are all AP workflows that are being fundamentally reshaped by automation. Invoice data entry, a key AP workflow, is traditionally manual, prone to errors and time-consuming. Automation helps eliminate this bottleneck compared to traditional methods in large part by using innovations such as optical character recognition (OCR) and machine learning (ML) to capture invoice data instantly, ensuring consistency and transparency while reducing processing times. Manual routing of invoices for approvals often creates delays and lacks visibility. Automated workflows solve this by routing B2B invoices based on predefined rules, sending reminders to expedite approvals, and providing real-time tracking of progress. Missed discounts and late fees are also common with manual payment scheduling. Automation addresses this by prioritizing payments to capture early payment discounts, ensuring on-time payments to strengthen vendor relationships and integrating with treasury systems for optimal cash flow management. Manual reconciliation is also infamously error-prone and labor-intensive. Automated systems streamline reconciliation processes, provide real-time dashboards for insights into spending trends and make month-end closing faster and more accurate. Read more : ERP Innovations Are Rebooting the Back Office as Organizations Modernize Speeding Up the Cash Flow Cycle by Optimizing AR Processes PYMNTS Intelligence finds a lack of transparency around AR workflows can lead to accounting teams operating in the dark, resulting in payment hurdles, inefficiencies and hidden costs that go unchecked. Invoice generation, payment collection, customer communication, dispute management and reporting and analytics are all areas where AP automation can provide significant benefits compared to legacy methods. Manually creating invoices can be inconsistent and time intensive. Automation works to ensure invoices are generated automatically, accurately reflecting real-time data from contracts and purchase orders. Traditional payment collection methods like checks are slow and delay cash inflows. Automation helps introduce multiple digital payment options, including virtual cards , which can reduce days sales outstanding (DSO) and accelerate cash flow. At the same time, resolving invoice disputes traditionally involves time-consuming back-and-forth communication. Automated systems help to streamline this process with centralized workflows, faster resolutions and transparent tracking of dispute statuses compared to legacy methods. Similarly, manually following up on overdue payments often leads to inefficiencies. Automation enables personalized reminders and notifications, enhancing customer experience and improving collection rates while maintaining a clear log of all interactions. Automation also provides real-time insights into receivables, predictive analytics to forecast cash flow and detailed reports that support strategic decision-making. With granular improvements across each step, businesses can remain competitive and thrive in today’s increasingly digital economy.
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Luke Richardson was fired as coach of the Chicago Blackhawks on Thursday, the NHL club announced, after the team stumbled to the league's worst record so far this season. Swede Anders Sorensen, coach of the Blackhawks' top developmental club, was named interim coach for the NHL squad. Richardson, a 55-year-old Canadian, went 57-118 with 15 overtime losses in three seasons with Chicago. The Blackhawks are 8-16 with two overtime losses this season for a league-low 18 points after going 19-54-9 last season, second-worst in the NHL, and 26-49-7 in 2022-23, third-worst in the league. "Today I made the difficult decision to move on from Luke as our head coach," Blackhawks general manager Kyle Davidson said. "As we have begun to take steps forward in our rebuilding process, we felt that the results did not match our expectations for a higher level of execution this season and ultimately came to the decision that a change was necessary." The Blackhawks are on a four-game losing streak and 3-9-1 in their past 13 starts with 2.42 goals a game this season, second worst in the NHL. They have reached the Stanley Cup playoffs only once over the past seven seasons. "I fully support Kyle's decision in making this change as he continues to do what is needed to move our team forward," Blackhawks chairman and chief executive Danny Wirtz said. "I have the utmost confidence in him and the rest of our hockey operations team as they begin their search for the next head coach of the Chicago Blackhawks." Richardson became the third NHL coach fired this season after Boston dumped Jim Montgomery last month. He was hired five days later by St. Louis after the Blues fired Drew Bannister. js/bb
Sanctuary Advisors LLC raised its holdings in Ryder System, Inc. ( NYSE:R – Free Report ) by 1.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,826 shares of the transportation company’s stock after purchasing an additional 131 shares during the period. Sanctuary Advisors LLC’s holdings in Ryder System were worth $1,141,000 at the end of the most recent reporting period. Several other hedge funds and other institutional investors also recently modified their holdings of the business. UMB Bank n.a. lifted its holdings in Ryder System by 43.2% during the 3rd quarter. UMB Bank n.a. now owns 265 shares of the transportation company’s stock worth $39,000 after purchasing an additional 80 shares in the last quarter. Truist Financial Corp lifted its holdings in shares of Ryder System by 0.6% in the second quarter. Truist Financial Corp now owns 14,303 shares of the transportation company’s stock worth $1,772,000 after buying an additional 90 shares in the last quarter. MML Investors Services LLC boosted its position in shares of Ryder System by 4.7% in the third quarter. MML Investors Services LLC now owns 2,078 shares of the transportation company’s stock valued at $303,000 after acquiring an additional 94 shares during the period. Buckley Wealth Management LLC increased its holdings in Ryder System by 1.1% during the 3rd quarter. Buckley Wealth Management LLC now owns 9,660 shares of the transportation company’s stock worth $1,408,000 after acquiring an additional 105 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Ryder System by 20.2% in the 3rd quarter. GAMMA Investing LLC now owns 708 shares of the transportation company’s stock worth $103,000 after purchasing an additional 119 shares in the last quarter. Institutional investors own 87.47% of the company’s stock. Ryder System Price Performance Shares of NYSE:R opened at $155.66 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 2.17. The stock has a market cap of $6.58 billion, a PE ratio of 14.56 and a beta of 1.30. The company’s fifty day moving average is $158.21 and its 200 day moving average is $142.11. Ryder System, Inc. has a 52 week low of $106.62 and a 52 week high of $171.78. Ryder System Dividend Announcement The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, November 18th were issued a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend was Monday, November 18th. Ryder System’s dividend payout ratio (DPR) is currently 30.31%. Analyst Ratings Changes Several research analysts have recently weighed in on the stock. StockNews.com cut shares of Ryder System from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. The Goldman Sachs Group lifted their price target on Ryder System from $160.00 to $183.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Ryder System from $148.00 to $144.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $147.43. Check Out Our Latest Analysis on Ryder System Insider Transactions at Ryder System In related news, insider Thomas M. Havens sold 4,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $157.44, for a total transaction of $629,760.00. Following the transaction, the insider now owns 20,504 shares in the company, valued at $3,228,149.76. The trade was a 16.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink . Corporate insiders own 5.10% of the company’s stock. Ryder System Profile ( Free Report ) Ryder System, Inc operates as a logistics and transportation company worldwide. It operates through three segments: Fleet Management Solutions (FMS), Supply Chain Solutions (SCS), and Dedicated Transportation Solutions (DTS). The FMS segment offers full-service leasing and leasing with flexible maintenance options; commercial vehicle rental services; and contract or transactional maintenance services of trucks, tractors, and trailers; access to diesel fuel; and fuel planning and tax reporting, cards, and monitoring services, and centralized billing, as well as sells used vehicles through its retail sales centers and www.ryder.com/used-trucks website, as well as digital and technology support services. Recommended Stories Want to see what other hedge funds are holding R? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ryder System, Inc. ( NYSE:R – Free Report ). Receive News & Ratings for Ryder System Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ryder System and related companies with MarketBeat.com's FREE daily email newsletter .