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November 4th, 2024
Measuring and Understanding Hotel Profits; Profit and ProfPAR Defined / PKF / April 2003
February 28, 2003
Hotel Online Special Report Measuring and Understanding Hotel Profits; Profit and ProfPAR Defined by Kristin Rohlfs, Hospitality Research Group of PKF Consulting April 2003 - An issue developing within the lodging industry is whether or not Profit Per Available Room (ProfPAR) is a better way to measure hotel performance than the well-known Revenue Per Available Room (RevPAR) statistic. Specifically, the main question is Does RevPAR miss some important economic phenomena that ProfPAR reveals? Arguably, the first steps in gaining insight about the ProfPAR vs. RevPAR debate are to clarify the definitio...
Maxim Revenue Management Solutions Establishes Long-term Presence in Japan, Signs Key Agreement with Leading Hospitality Consulting Firm, PHASE, Inc.
February 28, 2003
Hotel Online Special Report Maxim Revenue Management Solutions Establishes Long-term Presence in Japan, Signs Key Agreement with Leading Hospitality Consulting Firm, PHASE, Inc. CHICAGO, April 8, 2003 - Maxim Revenue Management Solutions (MaximRMS), a global leader in Revenue Management and Profit Optimization solutions to the Hospitality Industry, announced today the signing of a long-term agreement with PHASE, Inc., aimed at serving the needs of the Japanese Hospitality industry. PHASE, Inc. headquartered in Tokyo, is a leading Japanese hospitality industry consulting organization. PHASE joins the MaximRMS global al...
Marriott CEO Wants St. Louis Convention and Visitors Commission to 'Step Up'; Missed Targets for Future Room Nights Booked / April 2003
February 28, 2003
Hotel Online News for the Hospitality Executive Marriott CEO Wants St. Louis Convention and Visitors Commission to 'Step Up'; Missed Targets for Future Room Nights Booked St. Louis Post-Dispatch Knight Ridder/Tribune Business News Apr. 18, 2003 - President George W. Bush and Gov. Bob Holden were in town, but for a few hundred St. Louisans on Wednesday, the day's VIP was Bill Marriott. The chairman and chief executive of Marriott International Inc. was here for a ribbon-cutting ceremony at his company's newest St. Louis hotel, the Renaissance Grand downtown. On a brisk walking tour of the Grand and the nearby Renaissa...
February 28, 2003
Hotel Online Special Report CNL Hospitality Properties Opens the Seattle Marriott Waterfront; Includes Fish Club, Todd Englishs First Restaurant Venture with Marriott International WASHINGTON April 17, 2003 Marriott International, Inc. (NYSE:MAR) today announced the opening of the Seattle Marriott Waterfront hotel, the companys first full-service Marriott hotel in downtown Seattle. The 358-room property is located at 2100 Alaskan Way and is owned by CNL Hospitality Properties, Inc. and managed by Marriott International. The hotel plans to employ over 300 associates. Were very proud to ...
Marriott Bundles HSIA and Unlimited Domestic Long Distance and Local Phone Calls for $9.95 Per Day; Available at 150 Hotels / April 2003
February 28, 2003
Hotel Online Special Report Marriott Bundles HSIA and Unlimited Domestic Long Distance and Local Phone Calls for $9.95 Per Day; Available at 150 Hotels WASHINGTON, D.C. April 29, 2003 Marriott International, Inc. (NYSE:MAR) announced today that Wired for Business® will be available at more than 180 Marriott and Renaissance hotels. Wired for Business is designed to meet the needs of guests who want to stay connected to work and home by offering them a bundle of communications services including high-speed internet access and unlimited local and long distance phone calls within the U.S. for...
The Chateau Vacation Ownership Development in Las Vegas Aligns with Marriott Vacation Club International / April 2003
February 28, 2003
Hotel Online Special Report The Chateau Vacation Ownership Development in Las Vegas Aligns with Marriott Vacation Club International LAS VEGAS, April 3, 2003 - Marriott Vacation Club International (MVCI) and vacation ownership pioneer, Diamond Resorts International (DRI) announced today the formation of a development and sales and marketing alliance for timeshare resorts in Las Vegas. The initial focus of this relationship is to market and sell the remaining inventory within Polo Towers which will remain under the Diamond Resorts brand, in addition to a joint venture to develop DRI's previously announced, "Chat...
Mexico City-based Hoteles Marquis Opens the 240-suite Marquis Los Cabos Beach, Golf, Spa and Casitas Resort / April 2003
February 28, 2003
Hotel Online Special Report Mexico City-based Hoteles Marquis Opens the 240-suite Marquis Los Cabos Beach, Golf, Spa and Casitas Resort LOS CABOS, Mexico - April 9, 2003 -- With a dramatic 36-foot waterfall, a chef with a Michelin pedigree, and a major Latin American art collection, the new 240-suite Marquis Los Cabos Beach, Golf, Spa and Casitas Resort is now open. The resort, a member of the Small Luxury Hotels of the World, is on the tip of Baja California, where the Sea of Cortez and the Pacific Ocean meet. It is nestled between two professional 18-hole golf courses, one of which is ranked number one in ...
Discover Resorts International and Marc Resort's 14 Properties in Hawaii Affiliate for Marketing Boost / April 2003
February 28, 2003
Hotel Online Special Report Discover Resorts International and Marc Resort's 14 Properties in Hawaii Affiliate for Marketing Boost Marc Resorts Gains Sales Clout; Discover Resorts Gains Major Presence SCOTTSDALE, ARIZ., April 3, 2003 - Marc Resorts Hawaii has entered into an affiliation with Arizona-based Discover Resorts International. Under this unique agreement, Discover Resorts will supplement the sales and marketing efforts of Marc Resorts' condominium accommodations. Marc Resorts will remain directly responsible for its properties' management and operations. The affiliation marks Discover Resorts ...
Mandarin Oriental Hotel Group Chosen as Operators for 168-room Hotel and Residences in $200 million Boston Mixed Use Project / April 2003
February 28, 2003
Hotel Online News for the Hospitality Executive Mandarin Oriental Hotel Group Chosen as Operators for 168-room Hotel and Residences in $200 million Boston Mixed Use Project By Thomas C. Palmer Jr., The Boston Globe Knight Ridder/Tribune Business News Apr. 8, 2003 - The developers of a new ultraluxury hotel on Boylston Street to be operated by the international Mandarin Oriental Hotel Group say they're building at the Prudential Center whether the Hynes Convention Center stays open or not. The principals of CWB Boylston LLC, preparing for yesterday's announcement at the Hynes, said Boston's older convention center wou...
M-Tech Partners With PRPRO / April 2003
February 28, 2003
Hotel Online Special Report M-Tech Partners With PRPRO Former hospitality trade magazine editors retained to brew-up excitement for Espresso! Rapid Response System MIAMI APRIL 1, 2003 Management Technologies (M-Tech), which develops and installs solutions that help hotels streamline information and workflow processes across all departments, has retained PRPRO, a hospitality-specific public relations firm based in Cleveland, to manage its public relations and marketing communications effort. PRPRO will assist M-Tech by brewing up excitement and interest for its Espresso! Family of Products. We aligned w...
Marcel Pitton Named General Manager of the Historical Casa Monica in St. Augustine, Florida / April 2003
February 28, 2003
Hotel Online Special Report Marcel Pitton Named General Manager of the Historical Casa Monica in St. Augustine, Florida Orlando/St. Augustine, Fla. - (April 23, 2003) Marcel Pitton has been named general manager of the four diamond, historical Casa Monica Hotel located in St. Augustine, Florida. Prior to joining the Casa Monica Hotel, Pitton was residential executive manager of the luxury residential development at The Mansion on Turtle Creek in Dallas, Texas. He was also the founder and president of Celmar Corporate Apartments, a luxury extended stay corporation. Pitton also served as regional...
MGM Mirage Posts 38% Drop in 1st Qtr Net Income, $51 million vs 82 Million / Hotel Operating Statistics / April 2003
February 28, 2003
Hotel Online Special Report MGM Mirage Posts 38% Drop in 1st Qtr Net Income, $51 million vs 82 Million Hotel Operating Statistics April 16, 2003 - MGM MIRAGE today reported its first quarter 2003 financial results. Adjusted earnings per diluted share ("Adjusted EPS") was $0.40 in the first quarter of 2003, versus $0.52 in the 2002 quarter. First quarter Adjusted EPS was in line with the Company's previously announced guidance of $0.35 to $0.40. Adjusted EPS (and Adjusted Earnings) excludes preopening and start-up expenses, restructuring costs, and property transactions, net(1). Diluted EPS computed i...
Marriott Earns $116 million in 1st Qtr 2003, Up from $82 million Last Year; Synthetic Fuel Business Accounts for $19 million / Key Lodging Statistics/
February 28, 2003
Hotel Online Special Report Marriott Earns $116 million in 1st Qtr 2003, Up from $82 million Last Year; Synthetic Fuel Business Accounts for $19 million Key Lodging Statistics WASHINGTON, April 24, 2003 - Marriott International, Inc. (NYSE: MAR) today reported diluted earnings per share from continuing operations of $0.36 in the first quarter of 2003, up 13 percent from the 2002 first quarter. Income from continuing operations, net of taxes, for the quarter was $87 million, up from $82 million a year ago. Synthetic fuel operations contributed approximately $19 million after-tax ($0.08 per share) during the first ...
MAI Canada Ltd. And Progressive Business Solutions Inc. Sign Distribution Agreement to Market Vision Sales and Catering Systems / April 2003
February 28, 2003
Hotel Online .Special Report MAI Canada Ltd. And Progressive Business Solutions Inc. Sign Distribution Agreement to Market Vision Sales and Catering Systems Ontario, Canada (April 10, 2003)... MAI Canada Ltd., announced that they have signed a distribution agreement with Progressive Business Solutions Inc. of London, Ontario to market and install their line of Vision Sales and Catering and Event Management Systems in North America. Progressive custom tailors its solutions around it's "Vision" family of products. Vision EMS is a fully integrated event management system that supports each stage of the event cycle from S...
American Hospitality Management Company Selects M3 Hotel Accounting / April 2003
February 28, 2003
Hotel Online Special Report American Hospitality Management Company Selects M3 Hotel Accounting Gainesville, GA & Minneapolis, MN. April 24, 2003 - American Hospitality Management Company has selected and is now using M3's AccKnowledge and InnQuire for daily accounting entry and operational reporting for their managed and owned hotels. AccKnowledge, the hotel specific accounting software, and InnQuire, the integrated, powerful data mining tool were selected to enhance American Hospitality Management Company's ability to process accounting more efficiently while being able to distribute statistical and financial inf...
M3 Accounting & Payroll Gains 16 New Clients in 2003 / April 2003
February 28, 2003
Hotel Online Special Report M3 Accounting & Payroll Gains 16 New Clients in 2003 Gainesville, GA April 7, 2003 - M3 announced that in 2003, 16 hotel management companies have committed to provide their associates with M3s unique Hotel-Specific productivity software. Two existing M3 clients are also adding 29 more of their hotels to the system. Over 130 new hotels have been added, or are being added, since January first. The owners of more than 65 of Americas leading hotel management companies have found that M3s applications: AccKnowledge (accounting), InnQuire (data mining), Labo...
New Jersey Hotel Owner Pays $150,000 for Overstated Advertisement Claim of Luxury / April 2003
February 28, 2003
Hotel Online News for the Hospitality Executive New Jersey Hotel Owner Pays $150,000 for Overstated Advertisement Claim of Luxury By Kevin G. DeMarrais, The Record, Hackensack, N.J. Knight Ridder/Tribune Business News Apr. 1--The ads said luxurious, but the reality was rundown, and the alleged deception will cost the owner of a Wildwood Crest hotel more than $150,000. The Diamond Beach Resort and the Grand Hotel of Wildwood Crest Inc., along with John Patitucci, its owner, agreed to pay $125,000 in penalties and more than $25,000 in consumer restitution to settle charges brought by state regulators. The attorney g...
March 2003 – London Hotels Record Double Digit Declines in RevPAR; Occupancy Falls 8.6% Compared to Previous Year / April 2003
February 28, 2003
Hotel Online Special Report March 2003 - London Hotels Record Double Digit Declines in RevPAR; Occupancy Falls 8.6% Compared to Previous Year April 17, 2003 - London Mayor, Ken Livingstone recently announced that 17 May to 15 June will be a "Totally London" month, during which time the capital will present the very best it has to offer through a series of special promotions. This announcement must have come as a welcome relief to the capitals hoteliers who, still reeling from the fall in demand following the events of September 11, are now coping with the repercussions of the conflict in Iraq. Prelimi...
Court Approves Lodgian Reorganization Plan for Final Two Chapter 11 Debtors; Confirms Plan for Remaining 18 Lodgian-owned Hotels / April 2003
February 28, 2003
Hotel Online Special Report Court Approves Lodgian Reorganization Plan for Final Two Chapter 11 Debtors; Confirms Plan for Remaining 18 Lodgian-owned Hotels ATLANTA, Ga., April 25, 2003 Lodgian, Inc. (AMEX: LGN), one of the nations largest owners and operators of mid-scale and upscale hotels, today announced that the U.S. Bankruptcy Court for the Southern District of New York has confirmed the Plan of Reorganization (the Impac Plan) for 18 hotels owned by Lodgian subsidiaries Impac Hotels II, L.L.C. and Impac Hotels III, L.L.C. (the Impac Debtors), ruling that the Impac Debtors have met all necessary require...
Wynn's Le Reve Expected to Trigger More Strip Development / April 2003
February 28, 2003
Hotel Online News for the Hospitality Executive Wynn's Le Reve Expected to Trigger More Strip Development By Jeff Simpson, Las Vegas Review-Journal Knight Ridder/Tribune Business News Apr. 18, 2003 - A local gaming expert is convinced Steve Wynn's Le Reve project will spur new Strip development even though most gaming operators are still waiting to see if his $2 billion project will succeed. "As Le Reve becomes closer to being a reality, those who are waiting to see if Wynn will succeed will act," University of Nevada, Las Vegas professor and industry expert Bill Thompson predicted Thursday. "Le Reve should trigger m...
Are You Laying-off the Right Employees? / Jose Acosta / April 2003
February 28, 2003
Hotel Online Special Report Are You Laying-off the Right Employees? by Jose Acosta April 2003 The current weak economic climate has hotel managers spinning as they try to find ways to increase revenues and reduce costs. However, many managers continue to make the same mistake of drastic across-the-board payroll cuts, which reduce costs in the short term; but, have negative long-term effects that result from a correlating reduction in customer service. Labor represents the single largest expense of any hotel typically comprising 40 to 45 percent of operating expenses and warrants significant focus and analysis. ...
A Three-day Tour of the Seaside Resort, Mount Kumgang, Resembles a Trip to the Zoo to See a Country in Captivity / April 2003
February 28, 2003
Hotel Online News for the Hospitality Executive A Three-day Tour of the Seaside Resort, Mount Kumgang, Resembles a Trip to the Zoo to See a Country in Captivity By Gady A. Epstein, The Baltimore Sun Knight Ridder/Tribune Business News Apr. 18, 2003 - MOUNT KUMGANG, North Korea--Here in the idealized version of North Korea, citizens wear new, brightly colored clothes, tour guides appear happy and well-nourished, and everybody worships Kim Jong Il and his father Kim Il Sung, 91 years old this week and still president despite being dead. This seaside mountain resort, developed and operated by the South Korean conglomer...
Joseph Smith Promoted to Executive Vice President/Director of Operations, Boykin Management Company / April 2003
February 28, 2003
Hotel Online Special Report Joseph Smith Promoted to Executive Vice President/Director of Operations, Boykin Management Company Cleveland, Ohio -- April 9, 2003 Boykin Hospitality is pleased to announce the promotion of Joseph Smith to Executive Vice President and Director of Operations for the western region of the United States, reflecting both the recent and anticipated continued growth of the management portfolio while strengthening the current executive team through internal promotions. In his new capacity, Mr. Smith will be providing leadership and direction to our full service properties located mainly...
Bookings in Japan for Overseas Travel Plummets 50% from Year Earlier; Bright Note – Anticipating 100,000 U.S. Baseball Tours / April 2003
February 28, 2003
Hotel Online News for the Hospitality Executive Bookings in Japan for Overseas Travel Plummets 50% from Year Earlier; Bright Note - Anticipating 100,000 U.S. Baseball Tours Kyodo News International, Tokyo Knight Ridder/Tribune Business News Apr. 16, 2003 - TOKYO--Bookings in Japan for overseas travel in May halved from a year earlier due to factors including the war in Iraq and the deadly severe acute respiratory syndrome (SARS), according to a survey released Wednesday. In contrast to the good performance at the beginning of the year, overall bookings for travel overseas fell 49.9 percent in May, according to the su...
