Analysis-Companies Boost Social and Climate Reporting Amid ESG Backlash
November 4th, 2024
North Carolina Court Affirms Burlington Holiday Inn's Income Approach to Determine Market Value; Cost Approach too Arbitrary for Assessing Pro
March 31, 2004
Hotel Online News for the Hospitality ExecutiveBy Brandee Hayhurst, Times-News, Burlington, N.C.Knight Ridder/Tribune Business News July 8, 2004 - GRAHAM, N.C. -- The N.C. Court of Appeals said this week that Alamance County improperly assessed the property value of the Burlington Holiday Inn. A tax assessor for the county decided in 2001 that the Holiday Inn, owned by Greensboro-based Weaver Investment Co., was worth more than $4.8 million. Weaver Investment Co. hired an expert that assessed the property at nearly $2.9 million. At the county's current tax rate, the lower estimate means a savings of almost $10,000 a year. Court state...
Hospitality Financial and Technology Professionals (HFTP®) Modernizes Membership Structure / July 2004...
March 31, 2004
Hotel Online Special Report Hospitality Financial and Technology Professionals (HFTP®) Modernizes Membership Structure Austin, Texas; July 15, 2004 Hospitality Financial and Technology Professionals (HFTP®) announced today that it has modernized its structure by releasing its membership from geographic requirements, a move that's in line with the global business community. Starting November 2005, membership dues to the association will be standardized and all-inclusive. HFTP members will be able to affiliate with the chapter they choose, regardless of where they live, work or travel to. Additionally, member...
Harrah's Reports Net Profit of $90.2 million, Up from $76.7 million in the Year Earlier 2nd Qtr / July 2004...
March 31, 2004
Hotel Online Special Report Harrah's Reports Net Profit of $90.2 million, Up from $76.7 million in the Year Earlier 2nd Qtr LAS VEGAS, July 21, 2004 - Harrah's Entertainment, Inc. (NYSE: HET) today reported record second-quarter revenues of $1.13 billion, up 4.5 percent from revenues of $1.08 billion in the 2003 second quarter. Property Earnings Before Interest, Taxes, Depreciation and Amortization (Property EBITDA) rose 6.2 percent to a second-quarter record of $301.1 million from Property EBITDA of $283.6 million in the year-earlier period. Second-quarter Adjusted Earnings Per Share increased to a record 7...
HEI Hospitality Acquires the Boca Raton Marriott; Laurence P. Magor Named General Manager / July 2004...
March 31, 2004
Hotel Online Special Report HEI Hospitality Acquires the Boca Raton Marriott; Laurence P. Magor Named General Manager Second Hotel Acquired by New HEI Hospitality Fund NORWALK, Conn./BOCA RATON, Fla., July 22, 2004 HEI Hospitality, a privately held hotel investment company, today announced the acquisition of Boca Raton Marriott at Boca Center from Crocker Center Associates III, Ltd. for an undisclosed amount. It is the second property acquired since June, when the company announced the formation of HEI Hospitality Fund, a $275 million private equity investment fund. The hotel will undergo a $5...
Hotel Booking Solutions and Pelican Systems to Leverage Technologies to Provide a Complete Distribution Solution / July 2004...
March 31, 2004
Hotel Online Special Report Hotel Booking Solutions and Pelican Systems to Leverage Technologies to Provide a Complete Distribution Solution . New Orleans and Singapore (July 7, 2004) - Hotel Booking Solutions L.L.C. and Pelican Systems, a division of HotelExchange, Pte. Ltd., announced an agreement today that will leverage the hotel distribution technologies of each company to provide a complete, automated distribution system. HBS will be providing supply-side connectivity (to property management systems and central reservations systems), and onward distribution channel connectivity. Pelican System has some grea...
Hotel Guests Escape from Everyday Responsibilities When Checking In; Use all the Towels, Eating Pizza in Bed / July 2004...
March 31, 2004
Hotel Online News for the Hospitality ExecutiveBy Donna De Marco, The Washington TimesKnight Ridder/Tribune Business News July 23, 2004 - Vacationers tend to relax the rules they follow at home when staying at a hotel. Most Americans who have stayed in a hotel for leisure do things that they don't normally do at home: such as eating in bed, using too many towels and leaving the TV on all day, according to a survey by Orbitz, an online travel company. "People vacationing in a hotel want to escape from everyday responsibilities whether they are staying in a five-star hotel or a motor inn," said John Samuel, Orbitz executive vice preside...
Groople Automates Group Travel Online; Small Groups are a Big Deal / July 2004...
March 31, 2004
Hotel Online Special Report Groople Automates Group Travel Online; Small Groups are a Big Deal . DENVER July 7, 2004 Groople announces the public launch of the online travel industrys most advanced technology for leisure groups at www.groople.com, an online retail marketplace designed for group travel. Created by some of the industrys most seasoned veterans, Groople provides a powerful online group portal and community that meets travelers research and booking needs while offering technology that enables suppliers to automate and control the pricing and allocation process. At Groople, consumers see the gr...
Lodgian, Inc. Sells the 261-room Holiday Inn Grand Island (Buffalo/Niagara), New York to American Hospitality Group, LLC for $3.35 million / July 200
March 31, 2004
Hotel Online Special Report Lodgian, Inc. Sells the 261-room Holiday Inn Grand Island (Buffalo/Niagara), New York to American Hospitality Group, LLC for $3.35 million ATLANTA, Ga., July 23, 2004 Lodgian, Inc. (AMEX: LGN), one of the nations largest independent owners and operators of full-service hotels, today announced that it has sold the 261-room Holiday Inn Grand Island (Buffalo/Niagara) in upstate New York, to American Hospitality Group, LLC, a private investment group, for $3.35 million. Net proceeds from the sale, approximately $3.2 million, will be used to pay down Lodgians long-term...
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March 31, 2004
Hotel Online Special Report Global Update: Whos Where and Doing What July 2004 Heads Above the Rest The Newsletter of The Boutique Search Firm The Americas Michael Deitemeyer, formerly Omni Hotels Chief Operating Officer, has been promoted to President. Deitemeyer is a thirteen-year veteran of Omni Hotels and its parent company, TRT Holdings. He joined TRT in 1992 as Controller and moved up in the ranks to become Chief Operating Officer of Omni Hotels in 1999. Clyde Min is now Vice President Asset Management for Host Marriott Corporation in Bethesda. Min was formally with Colonial Williamsburg Company H...
Fairmont Sells The Fairmont Glitter Bay in Barbados for Approximately $31 million, $620,000 Per Room / July 2004...
March 31, 2004
Hotel Online Special Report Fairmont Sells The Fairmont Glitter Bay in Barbados for Approximately $31 million, $620,000 Per Room TORONTO, July 14, 2004 - Fairmont Hotels & Resorts Inc. ("FHR") (TSX/NYSE: FHR) today announced that it has sold The Fairmont Glitter Bay in Barbados to a group of investors for approximately $31 million, or $620,000 per room, resulting in an after tax gain of about $8 million. The new owners intend to renovate and develop the property. The resort continues to be managed by FHR as The Fairmont Glitter Bay. "In 1998, we acquired our initial interest in The Fairmont Glitter Bay as part of ...
Linda Ghaffari Named President of FelCor's OwnerOptimizer, Focus to Provide E-business Strategies / July 2004...
March 31, 2004
Hotel Online Special Report Linda Ghaffari Named President of FelCor's OwnerOptimizer, Focus to Provide E-business Strategies IRVING, Texas, July 27, 2004 - FelCor Lodging Trust Incorporated (NYSE: FCH), the nation's second largest hotel real estate investment trust (REIT), today announced Linda Ghaffari as President of OwnerOptimizer, a division of FelCor Lodging Trust. OwnerOptimizer will focus on providing E-business strategies to maximize revenue opportunities at FelCor-owned hotels. In her role, Mrs. Ghaffari will work with FelCor's brand managers, InterContinental Hotels Group, Hilton Hotels, ...
The Fourth-largest Exhibit Hall in the Country, Georgia World Congress Center, Earned $225,788 in the Year ended June 30, 2004; In fiscal 2001, Whi
March 31, 2004
Hotel Online News for the Hospitality ExecutiveBy Leon Stafford, The Atlanta Journal-ConstitutionKnight Ridder/Tribune Business News July 30, 2004 - The Georgia World Congress Center's operators thought they would end fiscal 2004 almost $5 million in the hole because of a continued slump in the convention business and an ill-timed expansion. But belt-tightening, energy conservation and an increase in short-term corporate business helped the convention center end up with a profit. The facility, the fourth-largest exhibition space in the country, eked out $225,788 in the year ended June 30, Executive Director Dan Graveline told members...
Glen Sartori Joins GEO Hospitality Management as Vice President of Operations / July 2004...
March 31, 2004
Hotel Online Special Report Glen Sartori Joins GEO Hospitality Management as Vice President of Operations Newark, Delaware, July 1, 2004 - GEO Hospitality Management LLC, a mid-sized management company, today announced that it has added to its management team to support their planned future growth. Glen Sartori CHA, has joined GEO Hospitality Management as vice-president of operations. Glen brings over 17 years of operations, food & beverage and turn-around experience to our senior level management that will assist us in our growth plans, said Richard Carter, president of GEO Hospitality Management. Glen ...
Fourteen Independent Hotels Join the Great Hotels Organisation / July 2004...
March 31, 2004
Hotel Online Special Report Fourteen Independent Hotels Join the Great Hotels Organisation 8 July 2004 - Great Hotels of the World, a forerunner among luxury hotel marketing alliances, is delighted to announce 14 new member hotels across its five niche collections. The success of Great Hotels' private label GDS chain code and the recent opening of three overseas offices have proved added impetus for new members. Great Hotels of the World now has a global membership of 239 hotels. The latest hotels to join Great Hotels of the World: Badrutt's Palace Hotel, Switzerland Hotel Splendide Royal, Switz...
Gaylord Entertainment Reports 2nd Qtr Net Loss of $23.3 million; The Gaylord Texan Resort & Convention Center Opens During 2nd Qtr / Hotel Operating S
March 31, 2004
Hotel Online Special Report Gaylord Entertainment Reports 2nd Qtr Net Loss of $23.3 million; The Gaylord Texan Resort & Convention Center Opens During 2nd Qtr Hotel Operating Statistics NASHVILLE, Tenn. - July 29, 2004 -- Gaylord Entertainment Co. (NYSE:GET) today reported second quarter results featuring higher revenues and a 44 percent increase in advance bookings. For the quarter ended June 30, 2004: Consolidated revenues were $202.1 million, an increase of 91.6 percent from $105.5 million in the same period last year due to the inclusion of the results of ResortQuest and a strong performance from the hospita...
Overwhelming French Lick Community Support for Donald Trump Helped Balance Concerns About Viability of Trump's Company / July 2004...
March 31, 2004
Hotel Online News for the Hospitality ExecutiveThe Indianapolis StarKnight Ridder/Tribune Business News July 25, 2004--It's a long way from Wall Street to Main Street. And that may be a good thing for Donald Trump, whose Trump Hotels & Casino Resorts Inc. was selected Tuesday to operate the state's newest casino in French Lick. The celebrity-businessman was the clear favorite on Main Street in the economically depressed southern Indiana town. On Wall Street, however, $1.8 billion in high-interest debt has raised questions about the continued viability of Trump's company -- and the future role of Donald Trump himself. Trump's star pow...
After More Than Eight Years of Successful Management, The Regent Jakarta Becomes Four Seasons Hotel Jakarta / July 2004...
March 31, 2004
Hotel Online Special Report After More Than Eight Years of Successful Management, The Regent Jakarta Becomes Four Seasons Hotel Jakarta TORONTO, July 14, 2004 - Four Seasons Hotels and Resorts is pleased to announce that The Regent Jakarta will be officially re-named Four Seasons Hotel Jakarta today. Four Seasons Hotel Jakarta is better than ever, having just completed an extensive refurbishment programme. A completely renovated Ballroom and four function rooms have now expanded the availability of function space and the stunning new Spa adds a new level of pampering to both guests and locals in Jakarta. The Hotel's ...
BringYourPet.com finds that Guests Linger Longer when Fido comes Along / July 2004...
March 31, 2004
Hotel Online Special Report BringYourPet.com Finds that Guests Linger Longer When Fido Comes Along Knoxville, TN July 1, 2004 In a 2004 survey conducted by BringYourPet.com, 61% of those surveyed would be more likely to lengthen their hotel stay if given the opportunity to travel with their pets. This survey is a great example of the potential economic impact traveling pet owners can have on the travel industry, states BringYourPet.com spokesperson, Brian Bailey. If guests are allowed to bring their pets with them, not only will they stay in your hotel, but they will stay longer. So why will pet owners ex...
Family Travel Editor Reports Travel With Teens Is Rewarding Thoughtful Planning is Important / July 2004...
March 31, 2004
Hotel Online Special Report Family Travel Editor Reports Travel With Teens Is Rewarding; Thoughtful Planning is Important July 24, 2004. (Scottsdale, AZ) -- Hitting the highway or the skyway with your teenagers can be well…..multifaceted! But embrace the opportunity (they’ll be gone before you know it !) and enjoy! Familytravel.com Editor Lynn O’Rourke Hayes offers these tips for making the most of a holiday with your teens. Give your teen some credit! I often hear people talk about traveling with teens and they assume young travelers cannot get along without a Play Station or headphones. My sister-in-law and ...
Family Resorts: Suggested Strategies / Cheryl Griggs / July 2004...
March 31, 2004
Hotel Online Special Report Family Resorts: Suggested Strategies E-mail: info@optimumrating.com by Cheryl Griggs, July 26, 2004 Our recent article on AAAs rating of smaller family-owned resorts obviously struck a responsive chord. We received many emails and phone calls from resort operators and from the traveling public. The majority of guests and travelers expressed agreement with our observations. Most of the operators had questions about possible corrective action. We tried to answer each inquiry individually, and hope these additional comments will be of benefit. The most common question fro...
Florida Timeshare Industry Made a $7.9 Billion Economic Impact in 2002; Florida had 366 Timeshare Resorts with 27,700 Individual Units at the End of 2
March 31, 2004
Hotel Online Special Report Florida Timeshare Industry Made a $7.9 Billion Economic Impact in 2002 . Florida had 366 Timeshare Resorts with 27,700 Individual Units at the End of 2002 WASHINGTON - July 21, 2004 -- The timeshare industry in Florida made a $7.9 billion economic impact in 2002, according to a study issued today by the ARDA International Foundation (AIF), the research and education arm of the American Resort Development Association (ARDA). The study was conducted for AIF by PricewaterhouseCoopers (PwC) to analyze the impact of timeshare developers and owners, and their value to Florida's economy. Com...
Fairmont Hotels & Resorts Inc. Reports Net Income of $29.0 million Down from $40.1 million in the Year-before 2nd Qtr, RevPAR Rose 22.7% to $132.41 at
March 31, 2004
Hotel Online Special Report Fairmont Hotels & Resorts Inc. Reports Net Income of $29.0 million Down from $40.1 million in the Year-before 2nd Qtr, RevPAR Rose 22.7% to $132.41 at Fairmont-owned Hotels Hotel Operating Statistics TORONTO, July 22, 2004 - Fairmont Hotels & Resorts Inc. ("FHR") (TSX/NYSE: FHR) today announced its unaudited financial results for the second quarter ended June 30, 2004 using Canadian generally accepted accounting principles. All amounts are expressed in U.S. dollars. Second Quarter 2004 Highlights Operating revenues(1) increased 20.6 % to $210.3 million; Revenue per availa...
FelCor Lodging Trust Reports 2nd Qtr Net Loss of $41 million Compared with a Loss of $27 million a Year Earlier; Revenues Up 9.1% / July 2004...
March 31, 2004
Hotel Online Special Report FelCor Lodging Trust Reports 2nd Qtr Net Loss of $41 million Compared with a Loss of $27 million a Year Earlier; Revenues Up 9.1% IRVING, Texas, July 28, 2004 - FelCor Lodging Trust Incorporated (NYSE: FCH - News), the nation's second largest hotel real estate investment trust (REIT), today reported operating results for the second quarter and six months ended June 30, 2004. Second Quarter Results: FelCor's second quarter results reflect improving hotel industry fundamentals. FelCor had seven consecutive months of hotel portfolio revenue per available room ("RevPAR") increases and h...
Expotel Hospitality Services, L.L.C., a Hotel Management Company with 12 Hotels, Defines Core Values / July 2004...
March 31, 2004
Hotel Online Special Report Expotel Hospitality Services, L.L.C., a Hotel Management Company with 12 Hotels, Defines Core Values New Orleans LA (July 27, 2004) -- As a small but rapidly growing hotel management company, Expotel Hospitality Services, L.L.C. looks forward to moving to the next step. Their recent company-wide conference, where associates from all levels and all 12 hotels gathered to consolidate their individual goals and professional aspirations in one united vision, has them all headed in the same direction. The conference, under the banner Shared Vision/Shared Values, brought together representat...
