March 31, 2004

Hotel Online  Special Report Maxim Hotel Brokerage, Inc. Arranges the Sale of the 128-room Hampton Inn – Las Vegas (Summerlin), NV NEWPORT BEACH, CA:  July. 2004 – Maxim Hotel Brokerage, Inc. has confirmed the sale of the 128-room Hampton Inn located in the Summerlin area of Las Vegas, Nevada on June 30th for an undisclosed price.  Jack Carr of Maxim Hotel Brokerage completed the transaction.    The six year old Hampton Inn is a 3-story, 128 room hotel located on northwest side of Las Vegas in the upscale suburban community of Summerlin. Maxim Hotel Brokerage represented the seller; a public hotel company based on...

Marriott Vacation Club International Starts Construction of the Marriott Grand Chateau, 888 Vacation Ownership Villas on the Las Vegas Strip / July 20

March 31, 2004

Hotel Online  Special Report Marriott Vacation Club International Starts Construction of the Marriott Grand Chateau, 888 Vacation Ownership Villas on the Las Vegas Strip LAS VEGAS, Nev., (July 13, 2004) – Marriott Vacation Club International (MVCI), the vacation ownership division of Marriott International Inc. (NYSE:MAR) announced today the start of sales and construction for its first resort in Nevada. Overlooking the world-famous Las Vegas strip, Marriott’s Grand Chateau ( 75 East Harmon) will include 888 one-, two- and three-bedroom villas in four connected 38-story towers. Opening prices range from $10,140...

Host Marriott Giving the Newport Beach Marriott a $60 Million Renovation / July 2004

March 31, 2004

Hotel Online  Special Report  Host Marriott Giving the Newport Beach Marriott a $60 Million Renovation BETHESDA, Md., July 27, 2004 - Host Marriott Corporation (NYSE: HMT) today announced that it has commenced construction as part of an extensive renovation of the Newport Beach Marriott Hotel.  The renovation is expected to cost approximately $60 million.  The renovation project will include the addition of a world-class spa, 20 new luxury suites with sweeping ocean views, redesigned guest rooms, a new restaurant concept and updated meeting space.  The hotel is managed by Marriott International (NYSE: MAR) and w...

Executive Hotels & Resorts Opens the Executive Hotel Mark Twain Union Square, San Francisco / July 2004

March 31, 2004

Hotel Online  Special Report Executive Hotels & Resorts Opens the Executive Hotel Mark Twain Union Square, San Francisco SAN FRANCISCO - July 6, 2004 -- Executive Hotels & Resorts (TSX VENTURE:EIG) is pleased to announce the opening of the Executive Hotel Mark Twain Union Square, San Francisco. The 119 room Union Square boutique hotel is located at 345 Taylor Street in the heart of San Francisco's style and culture.   In an eclectic atmosphere that mirror's the rich heritage of the hotel's location, guests of the Executive Hotel Mark Twain Union Square will enjoy a unique blend of tradition, contemporary style and mod...

Marcus Sell of Baymont Consistent with Commitment to Maximize Shareholder Value; Impact on Corporate Office Staff to be Determined, First Budgetel Inn

March 31, 2004

Hotel Online  Special Report Marcus Sell of Baymont Consistent with Commitment to Maximize Shareholder Value; Impact on Corporate Office Staff to be Determined, First Budgetel Inn Opened in 1974 in Oshkosh, Wisconsin MILWAUKEE - July 15, 2004 --T he Marcus Corporation (NYSE:MCS) today announced that it has signed a definitive agreement for the sale of its limited-service lodging division to La Quinta Corporation (NYSE: LQI). The total cash purchase price of the transaction is approximately $395 million, excluding certain joint ventures and subject to certain adjustments. La Quinta Corporation, a leading limited-se...

The 130-room Mallory Hotel in Downtown Portland Being Acquired by the Aspen Hotel Group / July 2004

March 31, 2004

Hotel Online  Special Report The 130-room Mallory Hotel in Downtown Portland Being Acquired by the Aspen Hotel Group PORTLAND, Oregon (July 26, 2004) – Howard Jacobs, COO of Aspen Hotel Group, LLC., announced today that an Aspen affiliate had reached agreement to acquire the 130-room Mallory Hotel and Garage in downtown Portland. The seller is Malco Hotel, Inc., a company owned by the Albert Gentner family.  The transaction is scheduled to close in early August. “We are thrilled to add the Mallory to our portfolio of hotels, “Jacobs said.  “This property has been a Portland tradition for over 80 years and we...

Industry Recovery Evident as Operators Invest in Technology; Install Maestro Property Management Solutions in Over 1,500 Rooms in June / July 2004

March 31, 2004

Hotel Online  .Special Report Industry Recovery Evident as Operators Invest in Technology; Install Maestro Property Management Solutions in Over 1,500 Rooms in June Maestro Chosen by Scottsdale Luxury Resort, Sequoia National Park with 3 Lodges 33 Cabins, Anaheim Family Hotel,  and the International Mission Board Housing Facility  Markham, ON – July 20, 2004 – NORTHWIND, a leading provider of enterprise property management and reservation solutions for hospitality, announced the successful installation of its MaestroTM Enterprise Management Suite at properties controlled by four different operators with ...

Michael O. Smith Appointed General Manager for the 1,184-room Hyatt Regency New Orleans / July 2004

March 31, 2004

Hotel Online  Special Report  Michael O. Smith Appointed General Manager for the 1,184-room Hyatt Regency New Orleans NEW ORLEANS, LA, July 27, 2004 -  Michael O. Smith has been appointed general manager for Hyatt Regency New Orleans.  As General Manager, Smith will oversee the operations of the 1,184-room hotel, its 120,000 square feet of meeting and exhibition space, and 650 employees.  Smith comes to Hyatt Regency New Orleans from Hyatt Regency Washington on Capitol Hill in Washington, D.C. where he served as general manager for the past three years. During his 26-year career with Hyatt, Smith has held nume...

Monthly RevPAR of the 25-Nation European Hotel Industry Rose by 5.2% in May 2004, Recovery Continues / MKG Consulting / July 2004

March 31, 2004

Hotel Online  Special Report Monthly RevPAR of the 25-Nation European Hotel Industry Rose by 5.2% in May 2004,  Recovery Continues / MKG Paris, 12, July 2004 - Thanks to a rise in occupancy rates and the average room rates, the monthly RevPAR of the 25-nation European hotel industry rose by 5.2% in May. This new positive results are evidence of the recovery in activity after nearly 3 years of net slowdown. In May, all categories posted a positive RevPAR. Over 12 months combined, the RevPAR of the European hotel industry remained nearly unchanged.  Europe is enlarging, MKG is following! Beginning in May, the aggregates...

Molinaro Koger Arranges Sale of Crystal City Marriott Hotel / July 2004

March 31, 2004

Hotel Online  Special Report   Molinaro Koger Arranges Sale of Crystal City Marriott Hotel  McLean, Virginia – July 12, 2004 – Molinaro Koger announced today that the firm completed the sale of the Crystal City Marriott Hotel in Arlington, Virginia to Vornado Realty Trust (NYSE: VNO) on behalf of Crystal City Hotel Associates, LP. Strategically located in one of the premier commercial corridors in the Washington, DC area - just two miles from Ronald Reagan National Airport, the Crystal City Marriott is proximate to hundreds of corporations, associations and government, as well as numerous tourist attractions.  The ...

MGM MIRAGE Almost Doubles 2nd Qtr Profit, $104.7 million compared with $53.8 million Previous Year / Hotel Statistics / July 2004

March 31, 2004

Hotel Online  Special Report   MGM MIRAGE Almost Doubles 2nd Qtr Profit,  $104.7 million compared with $53.8 million Previous Year Hotel Statistics LAS VEGAS, July 21, 2004 - MGM MIRAGE (NYSE: MGG) today reported its second quarter 2004 financial results.  Adjusted earnings from continuing operations per diluted share ("Adjusted EPS") rose 72% to $0.74 in the second quarter of 2004 from $0.43 in the 2003 quarter.  These results represent an all-time record for Adjusted EPS in the Company's history, exceeding the previous record of $0.70 set in the first quarter of this year.  Current quarter results benefited ...

Mark Eble to Lead PKF Consulting's New Office in Indianapolis / July 2004

March 31, 2004

Hotel Online  Special Report  Mark Eble to Lead PKF Consulting's New Office in Indianapolis Atlanta.  July 26, 2004.  PKF Consulting, the national hotel and real estate consulting firm, has opened an office in Indianapolis and has brought on long-time industry expert Mark Eble to head the new practice.  Indianapolis will be the firm’s 10th location.  PKF Consulting currently has offices in Atlanta, Boston, Dallas, Houston, Los Angeles, New York, Philadelphia, Washington, DC, and its headquarters in San Francisco. “With the upturn in the economy and numerous opportunities opening up for us in the Midwe...

Marriott Reports 2nd Qtr Net Profit Rose to $160 million from $125 million a Year Earlier, RevPAR Up 13% Worldwide; Over One-third Hotel Rooms Added

March 31, 2004

Hotel Online  Special Report   Marriott Reports 2nd Qtr Net Profit Rose to $160 million from $125 million a Year Earlier, RevPAR Up 13% Worldwide;  - Over One-third Hotel Rooms Added to Marriott's system in the 2nd Qtr  Were Conversions from Other Brands; Lodging Statistics WASHINGTON, July 15, 2004 - Marriott International, Inc. (NYSE: MAR) today reported income from continuing operations of $160 million, up 27 percent, and diluted earnings per share from continuing operations of $0.67, up 29 percent for the quarter ended June 18, 2004.  Highlights for the quarter were as follows: Worldwide, systemwide co...

A Public/Private Partnership That Worked – The 790-room Loews Miami Beach / July 2004

March 31, 2004

Hotel Online News for the Hospitality ExecutiveBy Douglas Hanks III, The Miami HeraldKnight Ridder/Tribune Business News July 28, 2004 - The Loews hotel plans to pay $28 million to buy out Miami Beach's share in the partnership that built the oceanfront resort six years ago, a venture that cost the city nearly $60 million, city officials said Tuesday. The hotel's 1996 lease with the city sets a value of $24 million for the city-owned land, based on the appreciation schedule written into the deal. The lease's pricing formula would add $4 million to the purchase price this year, based on the hotel's profit. The price becomes available ...

Lexington Services Boosts Internet Bookings and Revenue for Clients through Targeted Promotions, and Hands-On Channel Management / June 2004

March 31, 2004

Hotel Online  Special Report Lexington Services Boosts Internet Bookings and Revenue for Clients through Targeted Promotions, and Hands-On Channel Management Operators Talk about Online Incentive Strategies, Team with Revenue Management Professionals to Leverage Corporate Travel Increases June 13, 2004 - Travelers are back on planes and in cars taking vacations and doing business.  But in the past three years both corporate and leisure travelers have evolved in their booking habits and changed practices for the hotel industry.  This year travelers are placing their confidence in the Internet and booking a grow...

Boutique Hotels & Resorts International Designates First Hotel in China, Les Suites Taipei Da An / July 2004

March 31, 2004

Hotel Online  Special Report  Boutique Hotels & Resorts International Designates First Hotel in Taiwan, Les Suites Taipei Da An MIAMI BEACH, Fla., July 7, 2004 - Refined, designed, and perfected, just as one would anticipate in Taiwan, Les Suites Da An Taipei is China's first genuine boutique hotel to be awarded membership with Boutique Hotels & Resorts International(R), COO John Sears announced.  "We are very thrilled to welcome this striking, stylish boutique hotel.  International travelers have been waiting for an authenticated boutique hotel in central Taipei."    Le...

Kendall College Partners With Les Roches Hospitality Management School of Switzerland; Chicago Campus Will Offer Four-year Hospitality Program Bachelo

March 31, 2004

Hotel Online  Special Report Kendall College Partners With Les Roches Hospitality Management School of Switzerland; Chicago Campus Will Offer Four-year Hospitality Program Bachelor's Degree CHICAGO, July 22, 2004 - Kendall College and Les Roches Hospitality Management School today announced a new partnership to bring Les Roches' industry-leading International Hospitality Management program to Kendall in Chicago.  The new bachelor's degree program will be offered starting in September 2004, when Kendall College moves to its new state-of-the-art campus in downtown Chicago. The association between Les Roches, o...

Rocco Forte Hotels and Bank of Scotland Acquire Le Richemond in Geneva for $79.3 million; Plans to Refurbish and Extend the Hotel to 125 rooms / July

March 31, 2004

Hotel Online  Special Report Rocco Forte Hotels and Bank of Scotland Acquire Le Richemond in Geneva for $79.3 million;  Plans to Refurbish and Extend the Hotel to 125 rooms LONDON, England, July 6, 2004 - Rocco Forte Hotels has taken over the famous Le Richemond in Geneva.  Le Richemond was built in 1875 and was owned and managed by the Armleder family for four generations until 1999.  It has an outstanding location in the heart of the city with views over the lake.  The hotel has 98 bedrooms and suites, two restaurants and is a founding member and shareholder of The Leading Hotels of the World.  Le R...

Lasky, Cauvin Expanding Shared Management Philosophy Coast-to-Coast / July 2004

March 31, 2004

Hotel Online  Special Report Lasky, Cauvin Expanding Shared Management Philosophy Coast-to-Coast Veteran hoteliers’ combined 80 years of hotel-management experience now available nationwide as Lodging Unlimited opens Western base in Arizona   CHICAGO— July 1, 2004 — Fittingly, it was an act of hospitality that brought Morris Lasky and John Cauvin together—and led to a partnership that gives Lodging Unlimited, Lasky’s Chicago-based hotel-management company, an immediate base of operations on the West Coast.   That recently created West Coast base is known as Lodging Unlimited – West, and it’s headed by Cauv...

La Quinta Acquiring 86 Baymont Inns & Suites and the Baymont Franchise System of 84 Hotels for $395 million in Cash / July 2004

March 31, 2004

Hotel Online  Special Report La Quinta Acquiring 86 Baymont Inns & Suites and the Baymont Franchise System of 84 Hotels for $395 million in Cash La Qunita Expands Geographic Distribution; Total System to Grow to More Than 550 Hotels Dallas (July 15, 2004) – La Quinta Corporation (NYSE: LQI) today announced that it has entered into a definitive agreement with The Marcus Corporation (NYSE: MCS) to purchase substantially all of the assets of MarcusÂ’ limited service lodging division for a total purchase price of approximately $395 million in cash, excluding eight joint ventures, subject to certain adjustments.Â...

Colony Capital Planning $70 million Las Vegas Hilton Renovation / July 2004

March 31, 2004

Hotel Online News for the Hospitality ExecutiveBy Phil Hevener, Las Vegas Review-JournalKnight Ridder/Tribune Business News July 6, 2004 - After years of what they consider neglect, the new owners of the Las Vegas Hilton are planning to give the off-Strip resort all the attention they believe it deserves. "We love having the Hilton. We want to restore its magnificence. There is tremendous potential," Rudy Prieto, Colony Capital's chief executive officer and Las Vegas Hilton general manager, said. In mid-June, Caesars Entertainment formally announced the sale of the Las Vegas Hilton to Colony Capital for approximately $280 million. Pa...

Hotel Business Absolutely Booming in Las Vegas; Selling Nearly 113,000 Rooms Daily Through April 2004 / July 2004

March 31, 2004

Hotel Online News for the Hospitality ExecutiveBy Chris Jones, Las Vegas Review-JournalKnight Ridder/Tribune Business News July 4, 2004 - It doesn't take more than a brief weekend drive near the Strip to demonstrate a fact many travel experts have repeated ad nauseam in recent months: Las Vegas is busier than ever. Frustratingly busy, some tourists say. Wondrously busy, if you listen to hotel-casino accountants raking in cash by the barrel. But busy nonetheless, no matter where your chips may lie. Crowded taxi stands, congested airport checkpoints and multihour waits for dinner at hotel restaurants can only tell a portion of this year's...

Laurance S. Rockefeller, 1910 – 2004; Developed Environmentally Oriented Resorts: Jackson Lake Lodge, Caneel Bay Plantation, Dorado Beach Hotel,

March 31, 2004

Hotel Online  Special Report   Laurance S. Rockefeller, 1910 - 2004;  Developed Environmentally Oriented Resorts: Jackson Lake Lodge, Caneel Bay Plantation, Dorado Beach Hotel, Mauna Kea Beach Hotel, Little Dix Bay, Woodstock Inn July 13, 2004 - Laurance Spelman Rockefeller was born on May 26, 1910, in New York City, the fourth of the six children of John D. Rockefeller, Jr. and Abby Aldrich Rockefeller. He attended Lincoln School, a progressive co-educational preparatory school connected with Teachers College of Columbia University in New York City, before entering Princeton in 1928. A philosophy majo...

La Quinta Posts a Loss of $7 million for 2nd Qtr Compared to a Loss of $14 million a Year Ago; RevPAR Up 9% / Hotel Operating Statistics / July 2004

March 31, 2004

Hotel Online  Special Report La Quinta Posts a Loss of $7 million for 2nd Qtr Compared to a Loss of $14 million a Year Ago; RevPAR Up 9% Hotel Operating Statistics DALLAS, July 29, 2004 - La Quinta Corporation (NYSE: LQI) today announced financial results for the second quarter ended June 30, 2004.  La Quinta reported the following financial results. A detailed schedule reconciling net loss to Adjusted EBITDA is included in the supplemental tables. For the second quarter 2004, La Quinta reported: Revenues of $145 million, a 8% increase compared to 2003. -- Net loss of $7 million, or ($0.04) per share, versus ne...