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Remington Hotels Opens the Residence Inn Steamboat Springs
Remington | December 7, 2020
DALLAS (December 7, 2020) – Remington Hotels is proud to announce the opening of the Residence Inn Steamboat Springs in Steamboat Springs, Colorado. Cypress 16, as developer of the project, and McClurg Century Investments selected Remington Hotels to open and manage the Residence Inn Steamboat Springs, Remington’s first property in Colorado. The 110-room, all-suite, new build hotel, in Colorado’s preeminent ski town, was designed keeping the vernacular architecture theme of the town. Rooms range from 475 square feet (Studio) to 675 square feet (Two Bedroom Suite), with each suite featuring a fully equipped kitchen, king-size beds, l
Mark Hehir Appointed General Manager of The Ritz-Carlton Maldives, Fari Islands Opening in 2021
Ritz-Carlton Hotel Company | December 7, 2020
Male, Maldives – December 07, 2020 – The Ritz-Carlton Hotel Company, L.L.C. is pleased to announce that Mark Hehir has been appointed General Manager of the highly anticipated and luxurious Ritz-Carlton Maldives, Fari Islands, set to open in Q2 of 2021. With more than 30 years of experience in the hospitality industry and 20 years of experience in the Maldives, Mark is truly an accomplished resort executive in the region. Born and raised in Australia, Hehir worked in his home country as well as in Europe, Asia and the Indian Ocean region but came to the know the Maldives region by chance. His first role in
Improving the Hotel Bottom-Line Begins With Knowing How to Read a P&L
HotStats | December 7, 2020
By Aggie Wojciechowska "Here's the bottom line..." It's a familiar turn of phrase that is succeeded by the speaker getting to the sum or crux of the issue—the overarching point. In running a hotel, getting to the bottom line means getting to what matters: profit. In order to arrive at that point, there are many inputs, both revenue and expense related, which mingle together to produce an outcome. The telling of that dance is recorded in the profit and loss statement (P&L), a signpost that records the story, of which the bottom line is the finale. How to read the story is the first step toward financial success. The P&L (al
Baird/STR Hotel Stock Index Jumped 31.0% in November
Baird | December 7, 2020
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index was up 31.0% in November to a level of 4,354. Year to date through the first 11 months of 2020, the stock index was down 17.4%. “Election clarity and several positive vaccine updates caused a sharp reversal in investor expectations and led to significant outperformance for hotel stocks during November,” said Michael Bellisario, senior hotel research analyst and director at Baird. “The positive vaccine updates allow investors to look to ‘the other side’ and reset their expectations for growth in 2022 and beyond. Worst-case scenarios, especially for the ho
AMJ Group Plans First Hyatt-Branded Hotel in Gainesville, Florida
Hyatt Place | December 7, 2020
GAINESVILLE, Fla. (December 7, 2020) – AMJ Group today announced plans to develop the first Hyatt-branded hotel in Gainesville, Hyatt Place Gainesville Downtown. Expected to open in spring 2022, Hyatt Place Gainesville Downtown will bring the brand’s intuitive design, inspired by Gainesville’s uniquely creative and artistic culture, casual atmosphere and practical amenities, such as free Wi-Fi and 24-hour food offerings, to downtown Gainesville, adding to the historic neighborhood. With 145 guestrooms, a second-floor elevated pool, market, lounge, restaurant and 1,800 square feet of meeting space, Hyatt Place Gainesville Downtown wi
IHG Signs With Calvia Country Club for Kimpton Mallorca in Spain
IHG | December 7, 2020
IHG® (InterContinental Hotels Group), one of the world’s leading hotel companies, has completed a landmark deal to sign their first luxury hotel in Mallorca, under the Kimpton® Hotels & Restaurants brand. When it opens in 2022, Kimpton Mallorca will further expand the brand’s presence in Spain, following the launch of Kimpton® Vividora Hotel in Barcelona earlier this year. The hotel will operate under a management agreement with Calvia Country Club S.A. The 79-room luxury boutique hotel will be nestled next to one of the island’s most renowned golf courses, Santa Ponsa Golf, on the site of the existing Santa Ponsa Co
Westin Hotels & Resorts Expands in Indonesia With the Opening of The Westin Surabaya
Westin Hotels & Resorts | December 7, 2020
Westin Hotels & Resorts today announced the brand’s debut in Surabaya with the opening of The Westin Surabaya. Embracing the brand’s foundational pillars of Eat Well, Move Well and Sleep Well, the new hotel features signature brand programs that enable guests to maintain their wellbeing while they are on the road. As the second largest city in Indonesia and the capital of the East Java province, Surabaya is home to colonial architecture and historical monuments including the Heroes Monument, Surabaya Submarine Monument and Tunjungan Plaza, all within close proximity of the hotel. Guests staying at The Westin Surabaya also have dir
Hospitality Financial Leadership: A Boring Routine Secretly Equals Power
David Lund | December 7, 2020
By David Lund If you wish you could do more each day and you’re open to looking at things differently, to consider there may be a stronger system to follow, perhaps this one is for you. Also, if you’re a big fan of multi-tasking then YOU HAVE TO read this. When we have a routine, we have a system that helps us generate tremendous results on the core work we do. We cannot be creative outside of a solid routine that gets the function of what we need to accomplish every day done. When the core work is done we then have a license to create outside of that routine. Scott Adams, author of “How to Fail at Almost Everything and Still W