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Investments in Singapore Hotels Surge in 2013 to U.S. $1.9B, More than Five Times 2012 Investments
January 28, 2014
Jan. 28--SINGAPORE (The Straits Times/ANN) -- Investments in Singapore hotels surged last year partly owing to the sale of The Westin Singapore, said property consultancy Savills in a report yesterday. The total sum invested last year was S$2.45 billion (US$1.9 billion) -- more than five times the S$467 million invested in hotels in 2012. The biggest hotel deal last year was Japan-based Daisho Group's S$468 million purchase of The Westin Singapore from BlackRock in December. The purchase price translates into a steep S$1.5 million per room, which could be a new record for a hotel here. The Westin Singapore is on the top floors of Asia S
Hoteliers Hoping for Super Bowl Bonanza; NYC Average Room Rates Up by $100 for Normally Slow Month
January 28, 2014
Jan. 28--The game may be in New Jersey, but a lot of the money it brings will be spent in New York. The NY/NJ Super Bowl Host Committee projects that the 400,000 visitors expected to flood into the area for Sunday's Super Bowl between the Seattle Seahawks and Denver Broncos will generate up to $600 million for the ecomony. Many believe the projection to be inflated, but that's not stopping New York City hotels from hiking rates in hopes that high demand will drive profits at what is typically a slow time. A Sunday night stay for Feb. 2 at the Ace Hotel in the Flatiron District, for example, costs $323, according to its website. Book one
Are Your Employees Your Facebook Friends or Foes? How This Can Impact Your Hotel
Steve DiGioia | January 27, 2014
By Steve DiGioia Have you ever thought how much damage one employee can do to your business? If not, read on... I have always prided myself with having a department staffed with positive and engaged employees even though the F&B business is one with many challenges. My banquet staff is used to working long nights with quick turn-arounds to an early breakfast, that is the business. But it doesn't mean that anyone likes it. One of the new challenges faced today, that was not an issue years ago, is having to deal with the Facebook's of the world and their possible effect on your business. We all know the power that "social media" sites
Orlando Area Hotels Set Record for RevPAR in 2013; Up 7.8% to $72.04
January 27, 2014
Jan. 27--Orlando-area hotels broke a record in 2013: highest-ever revenue per available room. Called RevPAR, the figure is a way to measure the average revenue generated per day by each available guestroom in the market. In 2013, it hit $72.04, up 7.8 percent compared with a year ago, according to Smith Travel Research, which tracks hotel data. That tally was enough to narrowly beat the previous record of $71.79, which was set in 2007 at the pre-recession height of the local hotel market. Still, there is a wide disparity in RevPAR among Orlando's various submarkets. Lake Buena Vista, which enjoys high occupancy and the area's highest av
$300 Million JW Marriott Convention Center Hotel in Austin, Texas Set to ‘Top Out’
January 27, 2014
Jan. 27--The JW Marriott will reach a milestone Tuesday when the final steel beam is hoisted atop the building, marking the structural completion of the shell of the $300 million convention center hotel under construction on Congress Avenue downtown. Community leaders and city officials, including Austin Mayor Lee Leffingwell, will attend a ceremony at the Headliner's Club on the 21st floor of the Chase Tower downtown to watch the "topping out" of the 34-story luxury hotel. The hotel is scheduled to open March 1, 2015. Construction began in 2012, and is running about three weeks ahead of schedule, Jay Spurr, the hotel's director of sale
Airbnb’s Swank Digs Reflect Growth (to the tune of $2.5 Billion), but Controversy Grows
January 26, 2014
Jan. 26--The conference rooms inside Airbnb's swank new San Francisco headquarters are inspired by listings from the home-sharing website. There's a Parisian pied-a-terre, an airy living room from Bali, a whimsical flat from Milan. Then there's a San Francisco bachelor pad with a leather sofa, blue-tiled fireplace and boxes of unusual cereal on display. It's modeled after Airbnb's first space: the South of Market apartment shared by co-founders Brian Chesky (now the CEO) and Joe Gebbia (now the chief product officer) in 2007, when they were fresh out of the Rhode Island School of Design. Strapped for cash, the pair had a brainstorm: ren
Florida’s Belleview Biltmore Future: Restoration or Demolition?
January 26, 2014
Jan. 26--BELLEAIR -- Every time it rains, water drips into the empty rooms and hallways of what was once referred to as the White Queen of the Gulf, the Belleview Biltmore. The water warps the wood floor and feeds the mold and mildew accumulating on the walls and fixtures once kept immaculate to please the dignitaries and celebrities who stayed there. Aside from gradual wear and overgrowth on the property, which some are calling "demolition by neglect," little has changed in the nearly five years since the old hotel closed. Some say the 117-year-old building has outlived its use; even if someone were willing to pay for a $200 million re
Buffalo’s Hotel Makeover: Existing Hotels are Remodeling & Reinvesting in Services
January 26, 2014
Jan. 26--As Buffalo awaits the opening of two Marriott hotels, a Hilton Garden Inn, and a few other planned lodging establishments, the older hotels -- longtime fixtures in downtown Buffalo -- are girding for a fight over who will house the city's visitors. Buffalo's hotel capacity is getting an extreme makeover, with developers building hundreds of swanky new rooms downtown. That has caused the operators of existing hotels to examine their own offerings and make sure they're up to snuff. The established downtown hotel owners say they're confident of the quality and reputations of the hotels they run. And they're optimistic about Buffal