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RREAF Holdings and Innisfree Hotels Announce Partnership to Develop Brand-New Margaritaville Resort on Galveston Beach

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DALLAS, Jan. 23, 2024 /PRNewswire/ — RREAF Holdings LLC, a private real estate development firm, today announced its partnership with Innisfree Hotels, a best-in-class operator of beachfront hotels and resorts in the Southeastern United States, to develop a brand-new Margaritaville resort in Galveston, Texas.

The deal totals just over $250 million and is located at 317 East Beach Drive. Once complete, the resort will occupy 300,000 square feet, making it one of the largest developments in eastern Galveston. The property will feature 334 rooms and include offerings such as a 2.5-acre elevated water park overlooking the beach, four restaurants, a ballroom, direct beach access, and more. RREAF Holdings has secured all the required approvals from the City of Galveston and will break ground in early 2024.

“The Galveston market has exponential growth opportunities stimulated by its economy and the evolution of people moving to Texas in the past two years,” said Kip Sowden, CEO of RREAF Holdings. “We are honored to work with such distinguished companies as Innisfree Hotels and Margaritaville. With best-in-class management and highly amenitized options for our customers, we are offering a premier experience in a well-positioned hospitality asset for a fruitful future.”

Galveston saw an economic boom in 2022 with over 8 million visitors, an increase of 25 percent from 2021 with expectations for even more growth this year. Additionally, the Houston metro area has continued to grow since 2020 making Galveston an attractive drive-to leisure destination for residents.

“The City of Galveston staff has been great to work with and we are looking forward to continuing the relationship as we develop this world-class project on Galveston Beach,” said Carl Schwab, President of RREAF Development Services. “Once we break ground in early 2024, our teams will work diligently to build and execute a resort that meets consumer demand in Galveston.”

“This is our fifth joint venture and ninth beachfront hotel with RREAF Holdings which exemplifies our successful commitment to adding premier developments to growing local, hospitality markets like Galveston,” said Ted Ent, President and CEO of Innisfree Hotels.

The resort will feature a wide array of amenities including pickleball courts, a family entertainment center, a lazy river along with an adult pool, and signature Margaritaville food and beverage offerings.

“In Texas, every road leads to a new adventure. Our Lone Star journey started with opening our office in Dallas and traveled to our destinations in Lake Conroe, the South Coast, and beyond. With this resort and additional lodging destinations, communities and cottages coming soon, more of these turns in the road will lead to fun, escapism, and our iconic state of mind,” said Jim Wiseman, President of Development at Margaritaville.

For more information, please visit: rreaf.com/ and margaritavilleresorts.com/margaritaville-beach-resort-galveston.   

About RREAF Holdings
RREAF Holdings LLC (“RREAF”) is a privately held, vertically integrated commercial real estate company based in Dallas, Texas, with roots that go back 37 years in the industry. RREAF focuses its portfolio of commercial real estate projects and development under five main divisions catering primarily to middle America with its programmatic value-add multifamily acquisitions, opportunistic hospitality and resort acquisitions, core ground-up development, large and highly amenitized master planned developments, acquisition / re-development of RV Resort Communities, Student Housing, and its ground-up extended stay hospitality development division.

RREAF and its subsidiary companies employ over 450 people directly and many thousand indirectly, mainly across the Sun Belt region, handling a wide range of commercial real estate investment matters, including in-house underwriting, due diligence, capital markets, acquisition, asset management, property management, construction management, project development, accounting, and legal support. RREAF and its debt and equity partners have built a diversified portfolio in its core competencies in excess of $4.5 billion in assets under management, across 15 states. Winner of the 2021 and 2022 Multifamily Operator of the Year Award and selected as an Optigo® 2022 and 2023 Select Sponsor, RREAF values its impact on local communities. RREAF’s mission is to enhance the lives of its investors, partners, residents, and guests by providing outstanding service, excellence, and expertise with integrity, vision, values, and purpose. For more information, please visit www.rreaf.com.

About Innisfree Hotels
For more than three decades, Innisfree Hotels has expertly developed and managed dozens of hotels in partnership with many of the world’s most-recognized hospitality brands. Today, the company owns or manages more than 27 hotel properties — about 3,500 rooms — and employs approximately 2,000 people. Innisfree is the largest beachfront hotel owner-operator on the Gulf Coast. As a triple-bottom-line company, Innisfree measures success not only in profits but also through its impact on people and the planet. Innisfree, which has about $800 million of assets under management and $180 million in annual hotel revenue, was named one of Hotel Business’ top management companies and top owners & developers in 2022. For more information, visit innisfreehotels.com. 

About Margaritaville
Margaritaville, a state of mind since 1977, is a global lifestyle brand inspired by Jimmy Buffett, whose songs evoke a passion for tropical escape and relaxation. 

Margaritaville features over 40 lodging locations and over 20 additional projects in the pipeline positioned across a variety of full-service and boutique hotel and resort brands, branded real estate, premium RV destinations, and gaming properties, all complemented by an extensive suite of food and beverage concepts, including Margaritaville Restaurant, award-winning JWB Prime Steak and Seafood, 5 o’Clock Somewhere Bar & Grill, and LandShark Bar & Grill. Hotel brands include Margaritaville Hotels & Resorts, Compass by Margaritaville, Margaritaville Beach House, Margaritaville St. Somewhere, and the all-inclusive product, Margaritaville Island Reserve. Further elevating experiences, Margaritaville’s branded real estate includes Latitude Margaritaville, “55 and better” active adult brand; Margaritaville Cottages, Villas and Residences; One Particular Harbour Margaritaville; and Margaritaville Vacation Club by Wyndham. 

The newest brand additions to Margaritaville’s properties includes the rapidly-growing Camp Margaritaville RV Resorts and Margaritaville at Sea, which debuted in 2022 with its first ship, Margaritaville at Sea Paradise. Additionally, consumers can escape every day through a collection of lifestyle products including apparel, footwear, frozen concoction makers, home décor, a SiriusXM radio station, and more. 

More than 20 million travelers and consumers every year change their latitude and attitude with Margaritaville. For more information, visit www.margaritaville.com and follow Margaritaville on FacebookTwitter and Instagram

SOURCE RREAF Holdings LLC

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Tech

Enhancing Your Safety on Public Wi-Fi: The Power of a VPN

“Protect your data on public Wi-Fi with a VPN. Encrypt, mask your IP, and secure your connection. Stay safe with ExpressVPN or Surfshark.”

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Public Wi-Fi has become an essential service available in coffee shops, bars, trains, and planes worldwide. However, it’s important to note that many of these networks are completely unsecured, leaving room for hackers to intercept your data, monitor your online activities, and potentially steal your private information. If you frequently connect to these hotspots, taking the time to learn about VPNs and their benefits can prove invaluable. This article aims to guide you in staying safe on public Wi-Fi.

Understanding the Risks of Public Wi-Fi

The greatest risk of connecting to public Wi-Fi lies in the possibility of falling victim to man-in-the-middle attacks. These attacks occur when an attacker intercepts the communication between your device and the Wi-Fi network, potentially gaining access to sensitive data such as your online banking details, passwords, and personal information.

Furthermore, public Wi-Fi networks can serve as breeding grounds for rogue networks. These malicious networks mimic legitimate ones and are set up by attackers to deceive unsuspecting users. Connecting to rogue networks unknowingly exposes your data to cybercriminals.

How Can a VPN Safeguard You on Public Wi-Fi?

A VPN (Virtual Private Network) shields you from these threats by routing your internet traffic through its own secure servers using powerful encryption. Here’s how it works:

  • • Encryption: A VPN encrypts your data, rendering it unreadable to potential interceptors. Utilizing industry-standard AES-128 or 256 encryption, VPNs ensure that your data remains virtually uncrackable.
  • • Anonymity: By masking your IP address, a VPN makes it harder for others to trace your online activities back to you.
  • • Secure Connection: When you connect to a VPN server, your data travels through a secure tunnel, preventing hackers from accessing your information even if the public Wi-Fi network is compromised.

Choosing the Right VPN for Public Wi-Fi

When selecting a VPN for public Wi-Fi, consider your online activities and the duration of your usage. Here are some factors to keep in mind:

  • • Data Limits and Speeds: Free VPNs often impose data limits and throttle speeds, which may suffice for occasional use but prove inadequate for regular or extended sessions.
  • • Device Compatibility: Ensure that the VPN has apps available for all your devices. Premium VPNs generally support a range of platforms, including smartphones, tablets, and laptops.
  • • Streaming Capability: If you want to watch videos during your breaks, opt for a VPN that can access popular streaming sites.
  • • Reliability and Support: Look for VPN providers that offer 24/7 support and have a solid reputation for reliability.

Our top-rated VPN is ExpressVPN, renowned for its military-grade encryption, fast connection speeds, and exceptional customer support. With its versatility and compatibility across virtually all devices, ExpressVPN offers a 30-day money-back guarantee, allowing you to test it risk-free.

For those on a budget, Surfshark makes an excellent alternative. It provides robust security features at a lower cost, making it an ideal choice for regular public Wi-Fi users seeking reliable protection without breaking the bank.

While public Wi-Fi offers convenience, it also carries substantial risks. Using a VPN is a simple yet effective method to safeguard your data from prying eyes. Whether you choose a premium service like ExpressVPN or a budget-friendly option such as Surfshark, investing in a reliable VPN is a small price to pay for the peace of mind it brings.

By taking this precaution, you can safely browse, work, and enjoy your online activities on public Wi-Fi networks without worrying about cyber threats. Stay informed, stay secure, and make the most of the digital world with the protection of a VPN. Remember that your safety matters, and a VPN can be your strongest ally in the world of public Wi-Fi.

virtual private network (VPN) is a mechanism for creating a secure connection between a computing device and a computer network, or between two networks, using an insecure communication medium such as the public Internet.[1]

A VPN can extend access to a private network (one that disallows or restricts public access) to users who do not have direct access to it, such as an office network allowing secure access from off-site over the Internet.[2]

The benefits of a VPN include security, reduced costs for dedicated communication lines, and greater flexibility for remote workers.[3]

A VPN is created by establishing a virtual point-to-point connection through the use of tunneling protocols over existing networks. This process involves encapsulating and encrypting the data to ensure secure transmission between two or more devices. A VPN available from the public Internet can provide some of the benefits of a private wide area network (WAN). These benefits include enhanced security, privacy, and the ability to bypass geographical restrictions, making it an essential tool for both individuals and businesses seeking to protect sensitive information and access restricted content while maintaining anonymity online. https://en.wikipedia.org/wiki/Virtual_private_network

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Economy

Debunking the Myths: California’s New Minimum Wage Law and Its Real Impact on Fast-Food Jobs

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cook standing in food truck and giving burger
Photo by Kampus Production on Pexels.com

Recently, a narrative has emerged in the media, suggesting that California’s new minimum wage law is devastating the fast-food industry, leading to massive job losses. However, this claim, largely propagated by the California Business and Industrial Alliance (CABIA) and certain conservative media outlets, fails to stand up to scrutiny. In fact, the data tells a very different story.

The Controversial Claim

CABIA placed a full-page ad in USA Today, asserting that nearly 10,000 fast-food jobs had been lost since Governor Gavin Newsom signed the minimum wage increase into law in September. The ad claimed that various fast-food chains were either cutting jobs or raising prices in response to the wage hike, which raised the minimum wage for fast-food workers to $20 from $16 starting April 1. Business lobbyist Tom Manzo pointed to these figures as evidence of the law’s negative impact.



The Reality Check

The truth, however, diverges significantly from these claims. According to data from the Bureau of Labor Statistics (BLS) and the Federal Reserve, fast-food employment in California actually increased from September through January. Furthermore, employment continued to rise after January, reaching nearly 7,000 more jobs in April 2024 compared to April 2023.

Misleading Statistics and Misrepresentation

The source of the 10,000 job loss figure can be traced back to an article in the Wall Street Journal, which reported a 1.3% decline in fast-food employment between September and January. However, this figure was derived from non-seasonally adjusted data, which is problematic for tracking jobs in industries like fast-food that experience seasonal employment fluctuations. Seasonally adjusted data provides a more accurate picture and, when examined, does not support the claim of massive job losses.

The Broader Economic Context

It’s crucial to consider the broader economic landscape of the fast-food industry. While labor costs are certainly a significant expense, they are not the sole challenge facing these businesses. Inflation in food costs, for instance, has been a more pressing issue in recent years. For example, Chipotle Mexican Grill reported an increase in costs for food, beverages, and packaging from $2.6 billion in 2022 to $2.9 billion in 2023. Despite higher labor costs, Chipotle and other chains like El Pollo Loco have managed to maintain or even reduce their labor costs as a percentage of revenue.

The Rubio’s Coastal Grill Case

One notable case often cited in discussions about the minimum wage law is Rubio’s Coastal Grill, which closed 48 of its California locations. While rising operational costs were a factor, the primary driver behind these closures was the chain’s significant debt burden. Acquired by the private equity firm Mill Road Capital in 2010, Rubio’s faced mounting debt that led to its bankruptcy filing in 2020 and again in 2023. This high debt load, a common feature of private-equity takeovers, complicated the company’s path to profitability far more than the minimum wage increases.

The Real Impact

The claim that the new minimum wage law is costing jobs in the fast-food sector is not supported by the available data. Employment in California’s fast-food industry has actually grown, and the broader economic context suggests that other factors, such as food cost inflation and debt burdens from private equity ownership, play a more significant role in the financial health of these businesses.

In conclusion, while the fast-food industry does face challenges, the narrative that California’s minimum wage law is leading to massive job losses is a misleading one. It is important to rely on accurate, seasonally adjusted data and consider the full economic picture when evaluating the impact of such legislation.

Check out the article about the topic of California’s Minimum Wage law and the false narratives that have sprung up regarding it that was posted in the LA Times.

https://www.latimes.com/business/story/2024-06-12/the-fast-food-industry-claims-the-california-minimum-wage-law-is-costing-jobs-its-numbers-are-fake

Visit STM Daily News for more articles and stories, ranging from current events and world news to in-depth analyses and intriguing features; stay informed and entertained with our diverse and engaging content.

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Community

Salvation Army Research Finds Food Bank Usage on the Rise as Food Security Challenges Persist

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TORONTO /CNW/ – New research from The Salvation Army Canada finds that many Canadians continue to struggle to meet their basic needs with food affordability, inflation and housing security challenges persisting as top issues.

As one of the largest non-governmental direct providers of social services in Canada, The Salvation Army produces the biannual Canadian Poverty and Socioeconomic Analysis to better understand the attitudes, behaviours and experiences of Canadians on issues such as the availability of housing and food, general affordability and related health outcomes.

Salvation Army
New research from The Salvation Army Canada finds that many Canadians continue to struggle to meet their basic needs. (CNW Group/The Salvation Army)

Due to overwhelming feedback from policymakers, news media and other stakeholders, The Salvation Army will now produce the Canadian Poverty and Socioeconomic Analysis twice a year, in the spring and fall. This will allow The Salvation Army to quantify the demand for ongoing social services provided and help the organization to better serve those in need.

The most recent research shows Canadians rank health care, inflation and food affordability as their top concerns. These findings are in line with The Salvation Army’s internal data, which reveal households that were inactive in reaching out for help are now active, and the number of new households seeking assistance, such as food, clothing, furniture and emergency housing, is on the rise.

The report finds that 26 percent of Canadians polled continue to be extremely concerned about having enough income to cover their basic needs, and that concerns around food security are on the rise. While seven percent of respondents said they recently accessed a food bank, food hamper or community meal program (up from six percent in October 2023), the percentage of first-time users is up sharply, to 61 percent compared to 43 Percent in October 2023.

“The increase in first-time users of food banks is an alarming indicator of the conditions that many Canadians are facing,” said Lt-Colonel John Murray, territorial secretary for communications, The Salvation Army in Canada and Bermuda. “We often find that when people show up at a food bank it can be the tip of the iceberg for additional issues they may be facing. The Salvation Army is committed to a holistic approach in supporting people through partnerships that help create a positive impact on individuals and families.”

The number of respondents who said they had skipped or reduced the size of at least one meal increased to 26 percent, up from 21 percent previously (October 2023). More Canadians also said they’d bought less nutritious food to save money and had reduced their grocery bill to pay for other necessities.

On financial issues, 72 percent of respondents described challenges managing limited financial resources in the past year, including cutting back on non-essential needs (59 percent), changing habits to save money (52 percent) and using savings or going into debt to afford basic needs (36 percent).

“Despite easing inflation numbers, life is still difficult for many Canadians,” said Murray. “Food insecurity is just one symptom facing people today. At The Salvation Army, our vision is to reduce barriers and address the root causes of poverty, working together with people to achieve their goals in overcoming them.”

Last year, more than three million visits were made to The Salvation Army in Canada and Bermuda for assistance, including 2.1 million visits for food, clothing or practical help, 438,000 visits for Christmas food hampers and toys, and 3.2 million community meals.

Survey Methodology:

This report contains findings from research conducted by Edelman Data & Intelligence on behalf of The Salvation Army to uncover Canadians’ attitudes and experiences with poverty and related socioeconomic issues.

The study was conducted March 11-14, 2024, among a nationally representative sample of 1,515 Canadians who are members of the online Angus Reid Forum, balanced and weighted on age, gender and region. Note: Canadians living in Yukon, Northwest Territories and Nunavut were not included in the survey.

For comparison purposes only, a probability sample of this size would carry a margin of error of +/- 2.5 percentage points, 19 times out of 20. And, where a margin of error is not available, the research department provides a comparable one so that the audience can have some context to the value of the poll.

About The Salvation Army:

The Salvation Army is an international Christian organization that began its work in Canada in 1882 and has grown to become one of the largest direct providers of social services in the country. The Salvation Army gives hope and support to vulnerable people in 400 communities across Canada and in more than 130 countries around the world. Its community and social service activities include: hunger relief for individuals and families through food banks and feeding programs; shelter for people experiencing homelessness and support for those needing housing; rehabilitation for those struggling with substance-use recovery; long-term care and palliative care; Christmas assistance, such as food hampers and toys; after-school programs, camps and school nutrition programs for children and youth; and life-skills classes, such as budgeting, cooking for a family, and anger management. When you give to The Salvation Army, you are investing in the future of people in your community. 

News releases, articles and updated information can be found at https://salvationarmy.ca/
A list of regional media representatives can be found at: https://salvationarmy.ca/news-and-media/media-contacts/

SOURCE The Salvation Army

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