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2013 Was a Good Year for South Florida Hotels with a Rise in Both Occupancy and Room Rates
January 21, 2014
Jan. 21--South Florida hotels closed out 2013 with fewer empty rooms and higher prices, buoyed by increases in international visitors, sports tourism and leisure business. In Broward County, hotel occupancy reached 71 percent last month, compared with 74.3 percent in December 2012, according to data released by industry tracker Smith Travel Research. The average daily rate for rooms was $124.87, up from $116.60 in December 2012, a sign of strength in the industry. Palm Beach County hotels were 71 percent occupied in December versus 66.5 percent a year before, while average rates climbed to $162.29 from $150.81, Smith Travel data showed.
Willmar, MN Holiday Inn Express Opens as First Phase of Torgerson Properties Expansion is Completed
January 21, 2014
Jan. 21--WILLMAR -- Torgerson Properties has completed the first phase of its multimillion-dollar hotel and convention center expansion and remodeling project on U.S. Highway 12 East with the openings of the new Holiday Inn Express and Suites. Holiday Inn Express was developed in the former Comfort Inn building. As part of the project, Holiday Inn Express will replace the Holiday Inn, a local hotel fixture for over 40 years. The Holiday Inn is being remodeled and will be rebranded as a Best Western Plus. During the interim construction period, both the Holiday Inn Express and Holiday Inn are in operation. "Eventually when the project is
Two Downtown Las Vegas Hotels to Begin Taking Bitcoin as Payment for Non-gaming Purchases
January 21, 2014
Jan. 21--Two Las Vegas hotels said Tuesday they will begin accepting bitcoin, the unregulated, digital currency, as payment, becoming the first Las Vegas casino properties to accept the popular currency for nongaming purchases. The two properties, co-owned by Derek Stevens, are the D Las Vegas Casino Hotel, which opened in 2012, and the Golden Gate Hotel & Casino. "I'm proud that the D and Golden Gate will be the first casino properties to accept bitcoin," Stevens said in a statement. "We're located in the growing high-tech sector of downtown Las Vegas, and like all things downtown, we're quickly adaptive to new technology." Las Veg
Florida’s 117-year-old Belleview Biltmore Gets Another Lease on Life
January 21, 2014
Jan. 21--BELLEAIR -- The Belleview Biltmore just got another life extension. About 200 people packed town hall Tuesday night to weigh in a proposed change to development rules that could pave the way for the historic hotel to be razed. After hours of discussion, three of the five town commissioners voted to postpone a vote on the land use change for another six months. The nearly 117-year-old hotel has been in limbo since well before its May 2009 closure as city officials and residents have debated its fate. The hearing came just as a potential buyer has offered to purchase and redevelop the property, which is owned by South Florida-bas
Magnolia Hotels Expands Partnership with Stash Hotel Rewards
Magnolia Hotels | January 20, 2014
Magnolia Hotels Adds Properties in Dallas, Denver and Omaha to Leading Rewards Program for Independent Operators DENVER – January 21, 2014 - Magnolia Hotels announced today that it has expanded its partnership with Stash Hotel Rewards by adding properties in Dallas, Denver and Omaha to the largest point-based rewards program in the U.S. The addition of these properties to the Stash Rewards program comes on the heels of a successful partnership with Magnolia Hotel Houston, which joined in October 2012. "Within the first year, Magnolia Hotel Houston saw an increase in revenue through new guests and corporate business as a direct result
Hotel Industry Outlook: Jim Butler’s Top 10 for 2014
January 20, 2014
For the most recent update on this topic, click here By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 21 January 2014 Hotel Industry Outlook: Jim Butler's Top 10 for 2014 by Jim Butler | Chairman, JMBM's Global Hospitality Group® A lot of exciting things are happening in the hospitality industry as 2014 opens. Based upon more than $68 billion of hotel transactions, JMBM's Global Hospitality Group® has made its "top 10" pick of the events, issues, trends, and developments that will have the biggest impact on the hotel industry. 1. 2013 will prove to be better-than-expected, but 2014 will
Renovations are on the Rise: Owners & Operators Get Creative to Put WOW Factor Back in Guestrooms
Creation Hospitality | January 20, 2014
During the Great Recession, the decline in hotel operating performance left very limited, if any funding for hotel renovation reserves. In recognition of these challenging times, hotel brands were more flexible with their franchisees in enforcing property improvement plans and capital renovation cycles, resulting in the deferral of capital expenditures. Today, lodging demand has recovered and hotels are busier than ever, thanks to the strengthening economy and increased travel. According to Smith Travel Research, overall occupancy rates across the U.S. were reported to finish the 2013 year at a 2% increase from 2012; RevPAR over this sam
Chinese Tourists to U.S. Will More than Triple by 2020; 5.7 M Mainland Visitors Expected in 2020
January 20, 2014
Jan. 20--BEIJING -- The number of Chinese tourists visiting the U.S. each year will more than triple by 2020, as 5.7 million mainland visitors are expected to reach American shores that year, a new report predicts. And California is the most popular destination. That's well ahead of the 1.5 million mainland Chinese who visited the U.S. in 2012. Overall, 200 million mainland Chinese will travel abroad in 2020, double the number who ventured overseas last year, according to an analysis released Monday by Aaron Fischer, the Hong Kong head of consumer and gaming research at CLSA Asia-Pacific Markets. And their spending worldwide will grow e