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Significant Spike in Daily COVID-19 Cases Expected to Prolong Recovery of the US Lodging Industry
PwC US | December 1, 2020
US Hospitality Directions: November 2020 Continued political uncertainty leading up to the presidential inauguration, the speed of the business traveler's return after a vaccine, and the length and severity of a resurgence of the virus in Q4 and into 2021 are impacting lodging's recovery in the US. In our May edition, we had assumed the then consensus view that the daily number of new COVID-19 cases in the US peaked in late April. We now know this did not occur, and that the current daily number is over four times that level. This has significantly impacted the recovery timeline. We currently expect annual occupancy for US hotels this year t
The Asia Pacific Construction Pipeline, Excluding China, Remains Steady Year-Over-Year
Lodging Econometrics (LE) | December 1, 2020
December 1, 2020 – PORTSMOUTH, NH – According to the recent Asia Pacific, excluding China, Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), Asia Pacific’s total construction pipeline, excluding China, remained steady year-over-year (YOY) to end the third quarter of 2020 at 1,820 projects/385,194 rooms, up 2% by projects and down slightly by 1% by rooms YOY. While coronavirus cases surge again across Europe and the United States, the Asia Pacific region has been one of the few regions of the world to successfully control the spread of COVID-19. This has allowed for hotel construction to continue throughout the
Chatham Lodging Trust Completes Sale of Residence Inn by Marriott San Diego Mission Valley for $67 Million
Chatham Lodging Trust | December 1, 2020
WEST PALM BEACH, Fla., December 1, 2020—Chatham Lodging Trust (NYSE: CLDT), a lodging real estate investment trust (REIT) that invests in upscale, extended-stay hotels and premium-branded, select-service hotels, has completed the sale of the 192-room Residence by Marriott San Diego Mission Valley for $67 million, or approximately $349,000 per room, to the San Diego Housing Commission (SDHC). Proceeds from the sale will be used to repay the $27 million mortgage on the hotel. After sales related expenses, including Marriott termination fees, remaining net proceeds of approximately $38 million will be used to repay credit facility borrowings.
Jamey Cua Named Vice President of Business Development for Peachtree Hospitality Management
Peachtree Hospitality Management | December 1, 2020
ATLANTA, December 1, 2020— Peachtree Hotel Group, one of the nation’s fastest growing hotel investment and management platforms, today named Jamey Cua vice president of business development for its hotel operations and management division, Peachtree Hospitality Management (PHM). In the newly created role, Cua will be responsible for creating growth in third-party management partnerships by leveraging industry relationships and identifying new management opportunities. “We looked across the industry for an individual who could both help grow our business and fit in well with our established team,” said Brent LeBlanc, executive vice
Davonne Reaves of The Vonne Group Receives ISHC Lori Raleigh Award for Emerging Excellence in Hospitality Consulting
ISHC | December 1, 2020
ATLANTA, December 1, 2020: The International Society of Hospitality Consultants (ISHC) named Davonne Reaves as the recipient of the sixth annual Lori Raleigh Award for Emerging Excellence in Hospitality Consulting during its annual conference. Reaves received a one-year associate membership to the ISHC to further professional relationships and experience all that the Society has to offer through planned events and interacting with top hospitality industry consultants from around the globe. The organization also announced its 2020 Rising Star & Young Leader category award winners. Reaves is the founder and chief hospitality strategist
Mike Deitemeyer Named President & Chief Executive Officer of Aimbridge Hospitality
Aimbridge Hospitality | December 1, 2020
DALLAS, Texas - December 1, 2020 - Aimbridge Hospitality, the leading, global, third-party hotel management company, today announced the appointment of Michael J. Deitemeyer to chief executive officer. He will succeed cofounder Dave Johnson, effective January 1, 2021. Since October 2019, Deitemeyer has served as the global president of Aimbridge Hospitality, overseeing the successful merger with Interstate Hotels & Resorts, where he served as CEO. [caption id="attachment_252184" align="alignright" width="232"] Dave Johnson[/caption] Dave Johnson will assume the newly created role of executive chairman where he will focus on transfo
FAU Hospitality Summit to Address Coronavirus Concerns for 2021
Florida Atlantic University | December 1, 2020
BOCA RATON, Fla. (Dec. 1, 2020) – The immediate future of the hospitality industry in the wake of the coronavirus pandemic will be the focus of a summit hosted by the Florida Atlantic University College of Business this month. Peter Ricci, Ed.D., director of FAU’s Hospitality and Tourism Management program, will moderate a panel discussion about hosting live meetings and events in 2021. The free webinar can be viewed at any time beginning Tuesday, Dec. 8 at 1 p.m. The hospitality industry is the largest private employer in Florida, with 1.1 million people working in the industry. It was decimated by the pandemic with estimates show
ASSA ABLOY Global Solutions Equips TownePlace Suites by Marriott St. George With Mobile Access and Latest in IoT Lock Security
ASSA ABLOY Global Solutions | December 1, 2020
Extended-stay hotel upgrades to VingCard Classic RFID to provide enhanced safety and contactless convenience while streamlining operations and reducing energy costs with room occupancy detection. Stockholm – December 1, 2020 – ASSA ABLOY Global Solutions with its leading expertise in security access innovation, has enhanced the abilities of TownePlace Suites by Marriott St. George in maximizing guest safety, convenience and operational efficiency with the implementation of VingCard Classic RFID door locks equipped with Mobile Access. Following a speedy and hassle-free upgrade experience, the 84-room Utah-based property is not only able t