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South Florida Tourism Poised to Heat Up with Cuban Thaw
December 18, 2014
Dec. 18--An easing of trade with Cuba more than 50 years since the start of the United States' cold war with the small island nation would undoubtedly benefit Florida -- and especially South Florida, home of the nation's largest community of Cuban refugees. That's the assessment of economists and private companies in the hours after President Obama's announcement ending the country's decades-long policy of isolating the communist country. In South Florida especially, "It looks like it could be a significant economic boon down there. No one is better poised," said University of Central Florida economist Sean Snaith. But no one should bre
Port of Vancouver, WA Hopes to Develop New Red Lion Hotel as Part of Larger Redevelopment Effort
December 18, 2014
Dec. 18--The Port of Vancouver said Wednesday it hopes to develop a new hotel for Red Lion as part of a larger effort to redevelop its Terminal 1 property, currently home to the Red Lion Hotel Vancouver at the Quay. The goal would be to keep the existing hotel operating while the new one is being built, said Abbi Russell, a spokeswoman for the port. It's unclear exactly where on the Terminal 1 property the new hotel would rise, but it would not be built on the current hotel's footprint. Part of the current hotel and restaurant sits on pilings above the Columbia River. Few specifics have been ironed out and no decisions have been made. "
After Claiming Construction was About to Begin, Deal for Convention Hotel in Evansville, IN Fails
December 18, 2014
Dec. 18--EVANSVILLE -- The latest effort to build a convention hotel in Downtown Evansville has failed, but Mayor Lloyd Winnecke said he's committed to resetting the project and trying again. After saying for weeks construction was about to begin, Winnecke, who was joined at a news conference by Old National Bank President Bob Jones, said a shortfall in ONB's financing meant the deal could not close. The bank in 2013 pledged to be an investor along with developer HCW after the City Council set a $20 million cap on public financing. Old National's commitment was tied to naming rights at the convention facility long known as The Centre. B
Protracted Prosperity: Profits and Resulting Values Expected to Increase
the Authors | December 17, 2014
by Scott Smith, MAI, and Gary McDade U.S. hotels have realized significant increases in occupancy, average daily rate (ADR), and top-line revenue over the past five years. Because of an improving economy, increased levels of international travel, a recovery in the total number of people working and limited supply growth in the majority of U.S. markets, PKF Hospitality Research (PKF-HR), a CBRE company, is forecasting a protracted period of prosperity for the U.S. lodging industry. Based on the September-November 2014 edition of PKF-HR's Hotel Horizons® forecast report, hoteliers will enjoy well-above average levels of revenue growth th
Hyatt Plans Two New Hotels in Brazil; Hyatt Place Sorocaba and Hyatt Place Macaé to Open in 2017
Hyatt Place | December 17, 2014
December 17, 2014 - CHICAGO - Hyatt Hotels Corporation (NYSE:H) and FSA Group S.A. announced today that joint venture entities formed by Hyatt affiliates and FSA Group have entered into agreements to purchase two sites in Brazil to develop Hyatt Place Sorocaba and Hyatt Place Macaé. Upon the closing of the site acquisitions, the joint venture entities will enter into agreements with FSA Group to manage the design, planning and construction of the hotels and with Hyatt affiliates to provide management services in connection with the operation of the hotels upon opening, which is expected in the first quarter of 2017. These two hotels ar
Study Confirms Front Desk Upselling’s Role in Boosting Guest Satisfaction & Reputation for Hotels
TSA Solutions | December 17, 2014
Joint study conducted by TSA Solutions, Brand Karma and Shangri-La Hotels and Resorts reveals definitive link between successful front desk upselling and increased positive online reviews. SINGAPORE - DECEMBER 17, 2014 - TSA Solutions, a leading global provider of measurable and sustainable revenue performance enhancing solutions for the hotel industry, has together with Shangri-La Hotels and Resorts and Brand Karma, released the results of an in-depth study into upselling's profound ability to affect the number and quality of positive guest reviews. The study results reveal that a successful upselling program is undeniably correlated t
Benchmark Names Erik Dombroski Director of Sales & Marketing of Snow King Resort in Jackson Hole, WY
Snow King Resort | December 17, 2014
The Woodlands (Houston), Texas, December 17, 2014 - Benchmark Hospitality International®, a leading U.S.-based hospitality management company, has named Erik Dombroski director of sales & marketing for Snow King Resort. Geoff Young, Benchmark's general manager for the property, which is located in Jackson Hole, Wyoming, made the announcement. "It is with pleasure that I welcome Erik to Snow King Resort and back to Jackson," said Mr. Young. "He comes to our property with tremendous all-season resort and destination experience. We look forward to his leadership in our sales and marketing programming as we continue repositioning this
Hyatt Sells the 346-room Park Hyatt Toronto to Oxford Properties for $90 Million
Oxford Properties Group | December 17, 2014
TORONTO AND CHICAGO (December 17, 2014) – Oxford Properties Group and Hyatt Hotels Corporation (NYSE: H) today announced that Oxford Properties has purchased the 346-room Park Hyatt Toronto hotel from a Hyatt affiliate for approximately $90 million USD or $260,000 USD per key, subject to certain adjustments. Oxford intends to spend approximately $25 million USD in additional capital expenditures over the next five years. A Hyatt affiliate will continue to operate the hotel under a new hotel services agreement. "Oxford's acquisition of Park Hyatt Toronto is in line with our stated strategy of owning highly visible, luxury and upper ups