Hyatt Regency London Blackfriars Opens in the United Kingdom

The London hotel is the ninth Hyatt hotel opening in the city, signaling Hyatt’s expanding brand footprint in the United Kingdom

Hyatt Hotels Corporation announced today the opening of Hyatt Regency London Blackfriars. Marking a key milestone in Hyatt’s strategic brand growth in the UK capital, the 204-room hotel is the 14th property in the country, demonstrating the United Kingdom as a priority growth market within Hyatt’s diverse and evolving brand portfolio. In the last five years, Hyatt has increased its brand presence in the UK from five to 13 properties, with six of those based in London.

Housed in a grade II listed building on the former grounds of King Henry VIII’s Bridewell Palace, Hyatt Regency London Blackfriars claims a prime spot in London’s business and leisure district, home to global corporations, influential businesses, and law firms. Guests will be able to enjoy convenient access to all that the capital has to offer, with Blackfriars Underground and railway stations just a few minutes away. Many of London’s most popular attractions including St Paul’s Cathedral, Tate Modern and Shakespeare’s Globe are also within walking distance from the hotel.

In line with the Hyatt Regency brand ethos, the hotel has been intuitively designed for productivity and peace of mind, with an environment for guests to work, connect or relax. Well-appointed guestrooms and suites boast contemporary finishes, high-end amenities, and dedicated workspaces. Three dynamic and diverse food and beverage concepts are poised to become new local culinary destinations. Meanwhile a trio of versatile group spaces offer to host a wide range of meeting and events in this desirable central London location. Guests also benefit from access to a 24-hour state-of-the-art fitness center.

“We are delighted to welcome guests to Hyatt Regency London Blackfriars situated alongside our neighboring landmarks, businesses and cultural attractions,” said Laurent Schauder, general manager of Hyatt Regency London Blackfriars. “With our welcoming service, inventive food and beverage offerings and ideal location, Hyatt Regency London Blackfriars is soon to become the hotel of choice for anyone looking for a memorable experience in the heart of the city”.

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The Portfolio Club locks in £76.5m deal to develop new lifestyle brand hotel concept in London

The Portfolio Club is to develop a new lifestyle hotel concept in central London after acquiring an expansive block in Covent Garden for £76.5m.

The Portfolio Club is a joint venture between pension fund APG and real estate investment advisory London Central Portfolio, which was launched last year to create the new hospitality brand in prime central London locations.

The deal to acquire the freehold island site Wellington block on the south east corner of Covent Garden from Capital & Counties Properties PLC, is the second step towards this ambition for The Portfolio Club.

Report finds 80 percent of hotel guests would rather check in remotely

New research has found only eight percent of guests would feel comfortable checking in and checking out via a reception desk, as consumer habits favour a more digital guest journey during a hotel stay.

Research conducted by UK-based Criton highlighted that 80 percent of guests would download an app that would enable them to check in and check out

Source

Jonathan Bowen Appointed General Manager At Ibis Bridgwater, United Kingdom

Cycas's first UK partnership with Accor, in May Jonathan Bowen, became General Manager of the Ibis Bridgwater (opening January 2021). Jonathan's combination of 15 years' hospitality experience across the South West of England, as well as a strong relationship with Accor, ensures he is well placed to successfully open Cycas's first property in the region early next year.

UK govt announces 50% discount at restaurants for everyone in August

UK Chancellor Rishi Sunak announced the government will give everyone a 50% 'eat out to help out' discount during August. Meals at any participating business from Monday to Wednesday will be at 50% off up to a maximum discount of £10 per head. VAT has also been cut from 20% to 5% for the hospitality and tourism sectors for six months.

For More Information Click Below :

inshorts.com/en/news/uk-govt-announces-50-discount-at-restaurants-for-everyone-in-august-1594219688657?utm_source=news_share

We are seeing a lot of interest for our premium villas: Shridhar Nair

With Goa hotels opening their doors to customers and new bookings, there seems to be a glimmer of optimism in a corner of the industry in a state which has had a fantastic run when it comes to hospitality.

Amongst the many resorts in India luxury ones, The Leela Goa possibly the highest repeat guest ratio which runs into as high as 36 percent year round, touching 50 percent on some months.

For More Information Click Below:

hospitality.economictimes.indiatimes.com/news/hotels/we-are-seeing-a-lot-of-interest-for-our-premium-villas-shridhar-nair/76794058

Occupancy fall among steepest for Indian hotels

Key Take Away

As per hospitality consultancy HVS Anarock’s Hotels & Hospitality Overview, occupancies in India declined 81% in April from a year earlier. HVS is estimating a similar decline for May as well.

In the US, occupancies during April shrank almost 64% while for the UK, the decline was 71.3% as per HVS and STR data. For China and Singapore, occupancies during the same period declined by 48.7% and 29.2% respectively.
In a note on May 27, investment information and credit rating agency ICRA said demand had declined to the lowest levels the industry had ever witnessed in India during the extended lockdown, and that it was clear that it was the biggest crisis faced by the sector.

For More Information

economictimes.indiatimes.com/industry/services/hotels-/-restaurants/occupancy-fall-among-steepest-for-india-hotels/articleshow/76143482.cms

International quarantine rules ‘another blow’ to tourism and hospitality industry

Key Take Away

From June 8, anybody arriving in the UK from an international country via plane, train or ferry, will be required to isolate for two weeks, with fines of up to £1,000 given out to those breaking the rules announced by the Home Secretary  Priti Patel.

The idea of ‘air bridges’ is also being championed, which would see agreements made with countries with low R numbers to let passengers travel between them without going into quarantine.

For More Information

www.boutiquehotelier.com/international-quarantine-rules-another-blow-to-tourism-and-hospitality-industry/

Google Maps helps healthcare workers find hotels

Key Take Away

As part of its broader COVID-19 response, Google has given healthcare providers the option to add virtual care offerings to their search and Maps profiles and made government coronavirus-related announcements more prominent in search. Google is adding a new Maps feature to help those individuals find special accommodations when they're done their daily shifts. This feature will help those workers who want to keep their families safe.

The new feature is only available in the US and UK, but Google plans to roll it out to other countries in the future

For More Information

www.engadget.com/google-maps-search-frontline-healthcare-worker-hotel-finder-144000833.html?utm_campaign=fullarticle&utm_medium=referral&utm_source=inshorts

London recorded “worst hotel performance on record” in April

Key Take Away

The UK capital suffered its worst hotel performance on record last month, as a result of the Covid-19 lockdown and global travel restrictions.

Average Daily Rates fell 38.9 per cent to £87.18, while revenue per available room fell 83.5 per cent to £19.11.

STR shows that occupancy fell to 21.9 per cent last month – down from 32.7 per cent in March 

For More Info

https://www.businesstraveller.com/business-travel/2020/05/16/london-recorded-worst-hotel-performance-on-record-in-april/?utm_source=Mailer&utm_medium=ET_batch&utm_campaign=ethospitality_news_2020-05-16&dt=2020-05-16

Starbucks to reopen 150 UK stores to serve takeaway coffee

Coffee giant Starbucks has announced that it will begin the “phased reopening” of 150 UK.The stores ​– which will reopen their doors on May 14 – will largely be made up of the brand’s drive-thru locations, joined by a “handful” of cafes offering takeaway, with delivery services expected to be introduced shortly. The move comes after Starbucks announced the closure of all its UK stores in March. 

Starbucks has said that the reopened locations will offer a “near-complete beverage menu”, but the food menu is to be “slightly restricted” and will “focus on more popular items”. The company will also be offering all NHS workers free beverages – in Tall size only, but in any variety – on the house.

The company has said it will introduce enhanced health and safety measures to the stores, including Plexiglass screens, contactless payments, social distancing measures and new cleaning protocols and increased hand-washing guidelines.  

In a letter to the company’s partners, UK general manager Alex Rayner said that the goal was to “be fully open by the end of June”.

“We have been learning, testing and refining these operational standards every day and have tailored to the specific needs of our Government and healthcare officials. You will be able to work safely in our stores.”

An artificial 'tongue' of gold to taste maple syrup

The new method—a kind of artificial tongue—is validated in a study published today in Analytical Methods, the journal of the Royal Society of Chemistry, in the United Kingdom.

The "tongue" is a colorimetric test that detects changes in colour to show how a sample of maple syrup tastes. The result is visible to the naked eye in a matter of seconds and is useful to producers.

1,818 samples tested

The artificial tongue was validated by analyzing 1,818 samples of maple syrup from different regions of Quebec. The syrups that were analyzed represented the various known aromatic profiles and colours of syrup, from golden to dark brown.

"We designed the 'tongue' at the request of the Quebec Maple Syrup Producers to detect the presence of different flavour profiles," explained Simon Forest, the study's first author. "The tool takes into account the product's olfactory and taste properties."

Maple syrup has a molecular complexity similar to that of wine. Its taste is delicate, without bitterness, and it has a subtle aroma. During the production process, specialized human tasters are employed to judge which profile each batch fits into.

Red for the best, blue for the rest

The researchers compare the artificial tongue to a pH test for a swimming pool. You simply pour a few drops of syrup into the gold nanoparticle reagent and wait about 10 seconds.

If the result stays in the red spectrum, it has the characteristics of a premium quality syrup, the kind best loved by consumers and sold in grocery stores or exported.

If, on the other hand, the test turns blue, the syrup may have a flavour "defect", which may be treated as an industrial syrup for use in processing.

60 categories of taste

Caramelized, woody, green, smoked, salty, burnt—the taste of maple syrup has as many as 60 categories to fit into. Maple syrup is essentially a concentrated sugar solution of 66 per cent sucrose and 33 per cent water; the remaining one per cent of other compounds determines the taste.

Too much variation in temperature over a weekend, for instance, can greatly affect the taste profile of the product.

The artificial tongue developed at UdeM could someday be adapted for tasting wine or fruit juice, Masson said, as well as be useful in a number of other agrifood contexts.

"High-throughput plasmonic tongue using an aggregation assay and nonspecific interactions: classification of taste profiles in maple syrup," by Simon Forest et al, was published May 5, 2020 in Analytical Methods.

How UK hotels are preparing for the holiday season from hell

Across the country, hotels that were shuttered at the start of the coronavirus pandemic have become eerie, empty shells. Front desks are devoid of receptionists ready to check-in guests, rooms are collecting dust. And with the summer season on the horizon, life for UK hoteliers is about to get much harder

The majority of Britons who had planned a domestic holiday in the UK this year believe that it is unlikely to go ahead, according to domestic tourism research from VisitBritain. "Those domestic summer holidays lost are not likely to be replaced with only a minority who have cancelled holidays looking to replace them," says Patricia Yates, chief executive of VisitBritain.

If lockdown doesn't lift by this summer, it would be a huge financial blow to many of the 13,000 hotels and over 35,000 B&Bs and guest houses in the UK, which make around 30 per cent of their annual revenue during the summer months. Chris Tate, partner at audit, tax and consulting firm RSM, says hotels that host corporate events skew the market's revenue figures because they are busiest from October through November — hiding just how dire the summer drop-off can be for the rest of the market

‌Lorraine‌ ‌Sinclair Appointed Executive Chef At Pan‌ ‌Pacific‌ ‌London‌, United Kingdom

Pan‌ ‌Pacific‌ ‌London‌ ‌announce‌d‌ ‌the‌ ‌appointment‌ ‌of‌ ‌Lorraine‌ ‌Sinclair‌ ‌as‌ ‌Executive‌ ‌Chef.‌ ‌Located‌ ‌in‌ ‌London's‌ ‌new‌ ‌landmark‌ ‌tower,‌ ‌One‌ ‌Bishopsgate‌ ‌Plaza,‌ ‌this‌ ‌multi-award-winning‌ ‌chef‌ ‌returns‌ ‌to‌ ‌her‌ ‌home‌ ‌country,‌ ‌following‌ ‌years‌ ‌honing‌ ‌her‌ ‌craft‌ ‌at‌ ‌Sheraton‌ ‌Saigon‌ ‌Hotel‌ ‌&‌ ‌Towers,‌ ‌where‌ ‌she‌ ‌was‌ ‌Director‌ ‌of‌ ‌Culinary‌ ‌Operations‌ ‌for‌ ‌four‌ ‌years.‌ ‌

On‌ ‌joining‌ ‌the‌ ‌hotel,‌ ‌Lorraine‌ ‌will‌ ‌be‌ ‌responsible‌ ‌for‌ ‌the‌ ‌entire‌ ‌food‌ ‌and‌ ‌chef‌ ‌operations.‌ ‌Widely‌ ‌recognised‌ ‌as‌ ‌one‌ ‌of‌ ‌the‌ ‌top‌ ‌female‌ ‌chefs‌ ‌in‌ ‌the‌ ‌world,‌ ‌She ‌will‌ ‌lead‌ ‌the‌ ‌hotel‌ ‌brigade‌ ‌and‌ ‌will‌ ‌be‌ ‌putting‌ ‌her‌ ‌own‌ ‌stamp‌ ‌on‌ ‌restaurants‌ ‌and‌ ‌menus.‌ ‌

Her‌ ‌nearly‌ ‌thirty‌ ‌years'‌ ‌experience‌ ‌in‌ ‌top‌ ‌kitchens‌ ‌in‌ ‌Europe,‌ ‌Asia‌ ‌and‌ ‌the‌ ‌Middle‌ ‌East,‌ ‌has‌ ‌seen‌ ‌Lorraine‌ ‌hold‌ ‌eight‌ ‌Executive‌ ‌Chef‌ ‌positions.‌ ‌She‌ ‌was‌ ‌selected‌ ‌as‌ ‌the‌ ‌first‌ ‌female‌ ‌Executive‌ ‌Chef‌ ‌in‌ ‌a‌ ‌number‌ ‌of‌ ‌different‌ ‌locations‌ ‌including‌ ‌Bahrain,‌ ‌Istanbul‌ ‌and‌ ‌Hong‌ ‌Kong,‌ ‌and‌ ‌most‌ ‌recently‌ ‌in‌ ‌Dubai,‌ ‌in‌ ‌her‌ ‌position‌ ‌at‌ ‌the‌ ‌Fairmont‌ ‌Hotel.

‌ ‌While‌ ‌in‌ ‌Hong‌ ‌Kong,‌ ‌two‌ ‌restaurants‌ ‌under‌ ‌Sinclair's‌ ‌direction‌ ‌were‌ ‌awarded‌ ‌Michelin‌ ‌Stars.‌ ‌She‌ ‌was‌ ‌nominated‌ ‌as‌ ‌a‌ ‌"Les‌ ‌Toques‌ ‌Blanches"‌ ‌Board‌ ‌Member‌ ‌and‌ ‌has‌ ‌published‌ ‌a‌ ‌charity‌ ‌cookbook.‌ ‌This‌ ‌is‌ ‌in‌ ‌addition‌ ‌to‌ ‌her‌ ‌receiving‌ ‌multiple‌ ‌accolades‌ ‌including‌ ‌the‌ ‌BBC‌ ‌Good‌ ‌Food‌ ‌award,‌ ‌Time‌ ‌Out's‌ ‌Best‌ ‌Steak‌ ‌House‌ ‌and‌ ‌being‌ ‌placed‌ ‌third‌ ‌in‌ ‌Best‌ ‌Restaurants‌ ‌in‌ ‌2013‌ ‌by‌ ‌Esquire.

Hospitality Industry Top Winners and Losers in the Post-Crisis Era

Here are the big winners as a result of the current coronavirus crisis:

1. Major Hotel Chains:  Currently 8 global hotel brands dominate many major markets: already 70% of hotel rooms in the U.S. and 50% in the U.K. belong to branded properties. 58.3% of roomnights, dominance in the corporate travel and group markets, comprehensive technology stack, expertise in maintaining and increasing occupancy and RevPARs in post-crisis, unparalleled direct channel distribution, 2x lower OTA commissions and 3x-4x lower dependency on the OTAs.

2. OTAs: The OTAs have emerged stronger after all of the previous crisis and calamities: 9/11, SARS, MERS, the recession, ZIKA, H1N1.. This "online planning and purchasing education" has created millions of converts and believers in online travel planning and booking, which will benefit the OTAs immensely.

3. Automation and Robotization of the Hospitality Industry:With labor costs constituting 33%-38% of overall operational cost and top line revenues plummeting, owners and managers will be looking to curtail costs and boost efficiencies. Next gen technology applications, automation, robots and devices will be replacing or augmenting back office operations, housekeepers, porters, reservation staff, front desk clerks, concierges, porters, line cooks, wait staff, etc. with robots, automation, AI-powered mobile check-ins and self-check-in and self-ordering kiosks etc.

Here are the biggest losers as a result of the coronavirus crisis:

1. Traditional and brick-and-mortar travel intermediaries: Even before the crisis the traditional intermediaries have been steadily losing market share. In the U.S. from more than 30,000 travel agencies 20 years ago, there were less than 9,000 left before the crisis. In the UK from nearly 9,000 travel agencies back in 2000, today there are less than 4,300 left

2. Destinations relying on long-haul or foreign feeder markets:

Drive-in and short-haul feeder markets will be the first to "wake up" in the immediate post-crisis period.Destinations relying on long-haul, fly-in or foreign feeder markets will experience very slow and painful recovery, which will extend well into 2021.

3. Independent Hotels:

The number of independent hotels has been shrinking for over 15 years. By adopting an asset-light business model and introducing soft brands, the major hotel chains have been aggressively expanding their global networks. In the post-crisis environment independent hotels will not be able to compete with the major brands for the fledgling travel demand and will further rely on the OTAs for their distribution.

Radisson Hotel Group Announces New Area Senior Vice President Appointments For Eastern Europe , Russia & Turkey AND UK, Ireland & Western Europe

 One of the most dynamic hotel groups in the world, is pleased to announce the new geographical responsibilities of Area Senior Vice President for Central & Southern Europe (CESE), Yilmaz Yildirimlar, and Area Senior Vice President for Northern Europe, Tom Flanagan Karttunen.

Further to their current roles, Yilmaz and Tom have now been appointed as Area Senior Vice Presidents for Eastern Europe, Russia & Turkey (EERUT) and UK, Ireland & Western Europe (UKIWE) respectively

Yilmaz started his career with the Group in Vienna in 1995 and has held several leadership positions at Radisson Blu Hotels in Amsterdam, Manchester and Bucharest. He has served as District Director for South Eastern Europe and Regional Director in Eastern Europe, based in Moscow, until his appointment in 2017 as Area Senior Vice President, Central & Southern Europe.

Originally from Turkey, Yilmaz Yildirimlar studied hotel management and holds an MBA in Finance. He has also achieved several degrees in the fields of leadership, real estate and asset management.

Tom joined Radisson Hotel Group more than 20 years ago and has grown within the company, holding different leadership positions in numerous business areas at Radisson Blu Hotels in Copenhagen, Beijing, Manama, Hamburg and Galway. He has served as District Director Turkey, Azerbaijan & China, based in Istanbul, before being appointed as Area Vice President Eastern Europe & Russia, based in Moscow in 2009, and then Area Senior Vice President, Northern Europe.He has a track record of success in leading Northern Europe, one of Radisson Hotel Group’s most mature markets, and is sure to have equal success in UKIWE

Born in Ireland, Tom holds a Diploma and B.A. Degree in Hotel Management.has played an integral role in ensuring the progression of business growth.

What to expect from Superdry Co-Founder’s new hotel brand

Julian Dunkerton, Co-Founder of fashion giant Superdry and owner of The Lucky Onion, has announced the launch of a brand-new venture – the hotel brand Cult Hotels.

For nearly 20 years, Superdry has grown from a small group of UK clothing stores into a huge global brand with outlets across every continent. As a co-founder, he has been there since the beginning – and has used this success to create other business opportunities.

The Lucky Onion – the UK restaurant and pub group run by him and Jade Dunkerton – is one such example of how he has moved into different sectors. He plans to bring something new to the UK hospitality scene with Cult Hotels, which will specialise in boutique conversions.

Cult icon: a blast from the past

For Dunkerton, the launch of the brand is a reference to the Superdry forerunner, Cult Clothing, that existed on UK high streets before becoming part of the more famous chain of stores.

His vision for the brand is clear. “Cult Hotels exists for the savvy traveller who values aesthetic and culture at a fair price,” he says. “My ambition with this venture is to continue to breathe new life into old buildings and bring a game-changing hotel concept to the marketplace.”

A fresh look for urban tourism

Average room rates for regional properties were falling in 2019, while a steady development pipeline means that the competition for occupancy won’t be getting any easier for hoteliers. Cult Hotels will hope that the conversion of the iconic George Hotel will appeal to Cheltenham’s visitors – especially during busy periods like the Cheltenham Festival

Preferred Hotels & Resorts Announces 2019 I Prefer Member's Choice Award Winners

About Preferred Hotels & Resorts
Preferred Hotels & Resorts is the world’s largest independent hotel brand, representing more than 750 distinctive hotels, resorts, residences, and unique hotel groups across 85 countries. Every property within the portfolio maintains the high quality standards and unparalleled service levels required by the Preferred Hotels & Resorts Integrated Quality Assurance Program.

For more information, visit PreferredHotels.com.

The world’s largest independent hotel brand representing more than 750 distinctive hotels, resorts, and residences across 85 countries – unveiled the winners of its second annual I Prefer Members’ Choice Awards. For 2019, 40 hotels in 23 countries were selected as winners across four regional categories with Discovery Shores Boracay on Boracay Island in Aklan, Philippines declared the overall winner, and other top honors given to Windsor Court Hotel in New Orleans, Louisiana; Pulitzer Amsterdam in the Netherlands; and Condado Vanderbilt Hotel in San Juan, Puerto Rico

Distinctly unique in their approach to hospitality, each of the award-winning hotels are connected by their dedication to delivering exemplary service and memorable experiences. The full list of 2019 I Prefer Members’ Choice Awards winners includes: 

Top Hotels in Europe: 

• Pulitzer Amsterdam – Amsterdam, Netherlands   

• Grand Hotel Excelsior – Valletta, Malta 

• Old Course Hotel, Golf Resort & Spa – St Andrews, United Kingdom 

• The Grand, York – York, United Kingdom 

  Top Hotels in Asia Pacific, Middle East, and Africa:  

  • Discovery Shores Boracay – Boracay Island Malay, Aklan, Philippines 

  • Discovery Primea, Manila – Manila, Philippines 

  • Royal Plaza on Scotts – Singapore    

  • Discovery Suites Manila Philippines – Manila, Philippines

    Top Hotels in Caribbean, Central, and South America:  

    • Condado Vanderbilt Hotel – San Juan, Puerto Rico   

    • Half Moon – Montego Bay, Jamaica   

    • Cambridge Beaches Resort & Spa – Sandys, Bermuda   

    • West Bay Club – Providenciales, Turks & Caicos Island

      To celebrate the winners, Preferred Hotels & Resorts is launching a limited-time Bonus Points Promotion. This value-add incentive gifts I Prefer members with 5,000 bonus points when they book a stay at any of the 40 winning hotels by March 10, 2020 for travel through December 31, 2020

    For more information on the I Prefer Members’ Choice Awards, visit www.IPrefer.com/MembersChoice.  

Fairmont announce brand opening in Maynooth, Ireland

The Fairmont brand now in Ireland this was done by the signing of the historic Carton House. In partnership with the owner, Belmullet Hospitality Group, a USA based investor in luxury property, the hotel will now be managed by Fairmont

Located just 20 minutes from Dublin in Maynooth, County Kildare, Carton House is one of Ireland’s most historic country houses. The hotel is currently undergoing a multi-million euro refurbishment to bring the property up to the globally recognized Fairmont brand standards.  The refurbishment is expected to be completed by the end of 2020 when the hotel will be rebranded as Fairmont Carton House.

It will be the first Fairmont branded hotel in Ireland and the fourth in the UK & Ireland, joining The Savoy in London, Fairmont St Andrews in Scotland and the recently announced Fairmont Windsor Park, which is also set to open by the end of 2020

With more than 80 locations around the globe, Fairmont is known for its grand and awe-inspiring properties

It will offer 170 bedrooms and suites, two-world class 18-hole championship golf courses, exceptional wellness facilities and 1,000 sqm of conference and events space.

Food and beverage offerings are extensive, comprising a lobby bar and three restaurants including The Carriage House golf club restaurant and a specialty restaurant within the Manor House

“The signing of Fairmont Carton House reflects our expertise in the luxury segment and reinforces our commitment to growing our luxury offering across the UK and Ireland.”

John Mullen, of Belmullet Hospitality Group, and his family added; “Carton House is one of Ireland’s most significant landmarks and we are excited to have Fairmont, one of the most prestigious hotel brands, to work with us to elevate the hotel to its rightful place in Irish hospitality.”

OYO ramps up presence in UK; expands to over 100 hotels across 25 cities

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OYO Hotels & Homes has increased its presence in the UK to over 100 hotels across 25 major cities and towns, including London, Manchester, Edinburgh, Glasgow, Blackpool and Torquay.

According to the company, its UK business, which is less than a year-old, has tripled its portfolio in the past three months.