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TLG Investment Partners Opens Saranac Waterfront Lodge in New York
Saranac Waterfront Lodge | November 17, 2020
Saranac Lake, NY – November 17, 2020 – TLG Investment Partners announced today the opening of the Saranac Waterfront Lodge, a member of Preferred Hotels & Resorts, as the newest independent boutique hotel located in the heart of the Adirondack High Peaks. The only full-service waterfront property on Lake Flower in the village of Saranac Lake, the hotel offers unmatched views of the surrounding lake and mountains, locally sourced food, and best-in-class service and amenities. The hotel will be managed by Skyward Hospitality. Ideally situated directly on Lake Flower’s Pontiac Bay shores, the hotel is located within walking distance
Donohoe Hospitality Services Adds Three Properties to Management Portfolio
Donohoe Hospitality Services | November 17, 2020
BETHESDA, MD– November 17, 2020 – Thomas Penny, III, President of Donohoe Hospitality Services, a division of Donohoe, today announced the addition of three hotels to its growing portfolio. Donohoe Hospitality welcomes the newly built 156 guest room Canopy Baltimore Harbor Point, MD, the 214 guest room Hyatt Place Washington, D.C., National Mall, and the 135 guest suite Homewood Suites by Hilton, Reston, VA. “As we navigate these unprecedented times, we believe in the long-term strength of our development and brand partners,” said Penny. "Our strong corporate culture of integrity and unwavering dedication to excellence enables us to
Lodging Recovery in Boston & Cambridge Driven by Leisure Demand as Market Faces Increases to Supply
Sebastian J. Colella | November 17, 2020
By Sebastian Colella November 17, 2020 - As the United States faces a growing number of COVID-19 cases, surpassing 10 million in early November, lodging markets across the country continue to face unprecedented declines in demand. Through October, the Boston & Cambridge lodging market has experienced some of the steepest declines in demand and revenue across the country’s top-25 markets according to STR. Now operating in the winter season, historically the slowest demand period for the Boston & Cambridge market, increasing case numbers have resulted in further restrictions to travel, gatherings, and businesses which were eased o
Latest Projection: Travel Spending in U.S. to Plunge by Nearly Half This Year
November 17, 2020
WASHINGTON (November 17, 2020)—Travel spending in the U.S. is expected to finish the year 45% down from 2019 levels, and will still not have returned to its pre-pandemic strength by 2024, according to the latest figures released by the U.S. Travel Association. The new 2020 projected travel spending figure of $617 billion is slightly worse than U.S. Travel’s previous forecast released in July ($622 billion)—and is a precipitous drop from the $1.13 trillion spent on travel in the U.S. overall in 2019. The nosedive reflects a decline of 34% in domestic leisure travel spending—but even sharper drop-offs in the lucrative domestic bus
Alpine Investors’ ASG Acquires ProfitSword, Market Leading Hospitality Software
ProfitSword | November 17, 2020
ORLANDO, Fl. & WALNUT CREEK, Calif. - November 17, 2020 - ASG, a portfolio company of Alpine Investors that buys, builds and operates vertical SaaS companies, today announced that it has acquired ProfitSword, a hotel property operations software that provides business intelligence and data management software for the hospitality industry. This deal marks the 30th acquisition for ASG and the 2nd in the ASG Hospitality Technology vertical. “We are incredibly excited and honored that ProfitSword chose ASG for their next chapter of growth,” said Steve Reardon, President of ASG. “Tili, Mike and the entire ProfitSword team deeply un
Paramount Capital Advisors Secures $9.2MM Loan for Hotel Development
Paramount Capital Advisors | November 17, 2020
Paramount Capital Advisors is pleased to announce the closing of a $9,200,000 construction loan for the development of the 135 room Hampton Inn and Suites in Goddard, Kansas. The Property will be part of the Genesis Sports Complex, which when complete, will consist of 10 baseball fields hosting baseball and softball tournaments, an Aquatic Facility which will include pools for competition, as well as a water park, surfing machine, lazy river plus a 12,000 sq. ft. Health Club. The loan represents approximately 50% of the total cost of the project. The three-year construction loan was priced at a spread of 350 basis points over a Libor floor
Zonetail Partners With Routier to Bring AI Contactless Multilingual Guest Messaging
Routier | November 17, 2020
Integration partnership enabling 25,000+ AAHOA affiliate hotels, and other Zonetail hotel partners, to digitally communicate with guests using the Zonetail app, or by using Routier, connecting guests and staff via SMS/text, Instagram, Twitter, WhatsApp, WeChat, Facebook, Line and others NEW YORK — November 17, 2020 — Routier announces an integration partnership with Zonetail Inc. (TSXV:ZONE, OTCQB:ZTLFF) that can enable 25,000+ Zonetail partnered hotels across North America to facilitate contactless mobile communication between guests, staff, and local businesses. Routier is a leading provider of AI-enabled hotel guest-engagement and o
Mass Rollout Bringing 900 Hotels Onto Maestro PMS Browser Version 5.5 in 2020 at No Cost to Clients
Maestro PMS | November 17, 2020
Maestro shows its 43+ year service commitment by implementing portfolio-wide PMS upgrade to better prepare independent operators for the ‘new normal’ Markham, Ontario, November 17, 2020 — Maestro, hospitality’s most trusted provider of property- management systems for independent and luxury resorts, conference centers, vacation rentals, and multi-property groups, is nearing completion of a portfolio-wide version upgrade of its latest Browser and Windows Versions. The provider offers complete flexibility to deploy it’s feature identical Browser PMS Suite of solutions either cloud-hosted, self-hosted, in your own private cl