Analysis-Companies Boost Social and Climate Reporting Amid ESG Backlash
November 4th, 2024
Cendant Corporation to Expense Stock Options in 2003 / Aug 2002
March 30, 2002
Hotel Online Special Report Cendant Corporation to Expense Stock Options in 2003 Board Amends and Extends Employment Agreement of CEO, Henry R. Silverman; Mandatory Stock Option Grant Eliminated / Reported Total Compensation of Company's CEO Expected to be Reduced By Over 50% NEW YORK, Aug. 28, 2002 - Cendant Corporation (NYSE: CD) today announced it will expense future stock option grants beginning January 1, 2003. The Company anticipates that it will reduce the issuance of stock options for employees in the future and instead utilize grants of restricted stock. The Company estimates the p...
Miami Businessman Pleads Guilty to Smuggling Banned Caviar into the U.S.; The Roe of Caspian Sea Sturgeon Have Been Protected Since April 1998 / Aug 2
March 30, 2002
Hotel Online News for the Hospitality Executive Miami Businessman Pleads Guilty to Smuggling Banned Caviar into the U.S.; The Roe of Caspian Sea Sturgeon Have Been Protected Since April 1998 By Larry Lebowitz, The Miami Herald Knight Ridder/Tribune Business News Aug. 27--A Russian businessman from North Miami Beach pleaded guilty Monday to orchestrating a scheme to smuggle more than 1,300 pounds of black-market caviar into the United States. Viktor Tsimbal, 41, president of Beluga Caviar Inc., faces between three and four years in federal prison when he is sentenced Nov. 6 by U.S. District Judge Federico Moreno. ...
Miami's Landmark Carillon Hotel Sold for $28 million to WSG Development / Aug 2002
March 30, 2002
Hotel Online News for the Hospitality Executive Miami's Landmark Carillon Hotel Sold for $28 million to WSG Development By Richard Brand, The Miami Herald Knight Ridder/Tribune Business News Aug. 11--MIAMI BEACH, Fla.--A Miami Beach-based development company purchased the North Beach landmark Carillon Hotel on Monday for $28 million and plans to build a 614-unit, triple high-rise on the site. WSG Development touted the one-million-square-foot Arquitectonica-designed project as one of the largest buildings in Miami Beach. During the 1950s, the Carillon Hotel was a bustling resort frequented by singers and movie star...
Reporting In at Six Months…./ Canadian Lodging Outlook / July 2002
March 30, 2002
Hotel Online Special Report Reporting In at Six Months.... CANADIAN LODGING OUTLOOK June 2002 Year to date The Canadian Lodging Outlook is a joint monthly publication of Smith Travel Research and HVS International, Vancouver and Toronto, Canada By: Elizabeth D. MacDonald, MAI, AACI - HVS International - Canada Well, here we are June 2002, where does the time go? For the first six months of 2002, Canadian hotel occupancy is down by two occupancy points, from 58.6% to 56.6%. The average room rate is up slightly, from $100.94 for the first six months of 2001, to $101.82 for the first six months of 2002. Overall, Rev...
Non Profit Callaway Gardens Planning a Second Hotel / Aug 2002
March 30, 2002
Hotel Online News for the Hospitality Executive Non Profit Callaway Gardens Planning a Second Hotel By Janet Frankston, The Atlanta Journal-Constitution Knight Ridder/Tribune Business News Aug. 26--PINE MOUNTAIN, Ga.---With the opening Friday of a new conference center, Callaway Gardens is looking to new revenue sources to rejuvenate the 50-year-old West Georgia landmark. The nonprofit attraction is retooling with a plan to ensure enough money to operate for another half-century, at least. It's starting with a name change --- "Callaway" instead of "Callaway Gardens." Plans also are under way to open to the publi...
CNL Hospitality Corp. Acquires 6 Hotels in First Half of 2002, Another 5 Hotel Development Projects In Process / Aug 2002
March 30, 2002
Hotel Online Special Report CNL Hospitality Corp. Acquires 6 Hotels in First Half of 2002, Another 5 Hotel Development Projects In Process ORLANDO, FL CNL Hospitality Corp. (CNL) completed six hotel acquisitions in the first half of 2002, valued at $260 million, including one hotel owned through a joint venture. The company also has another $460 million of development projects in its acquisition pipeline. In 2001, CNL acquired, directly or indirectly, 13 properties with a total value of more than $450 million. CNLs consistent access to capital, accompanied by the extraordinary efforts of our ho...
Candlewood Hotel Company Reports 2nd Qtr Loss of $6.2 million; Occupancy Increases to 78.9% / Aug 2002
March 30, 2002
Hotel Online Special Report Candlewood Hotel Company Reports 2nd Qtr 2002 Loss of $6.2 million; Occupancy Increases to 78.9% WICHITA, Kan., Aug. 13, 2002 - Candlewood Hotel Company, Inc. (Nasdaq: CNDL), a leading owner, manager, and franchisor of high-quality, value-oriented, business-travel hotels, today announced results for its second quarter ended June 30, 2002. Second Quarter 2002 Results Comparing the operating results of the Candlewood hotels owned, leased and managed by the Company for the second quarter of 2002, occupancy increased 5.3 points to 78.9 percent, compared to 73.6 percent in the secon...
Carlos Molinet Named General Manager of the Wyndham Grand Bay – Coconut Grove / Aug 2002
March 30, 2002
Hotel Online Special Report Carlos Molinet Named General Manager of the Wyndham Grand Bay - Coconut Grove Thomas Carney Appointed Director of Sales DALLAS (Aug. 5, 2002) - Wyndham International, Inc. (NYSE:WYN) is pleased to announce the appointment of Carlos Molinet to general manager of the Wyndham Grand Bay - Coconut Grove, Florida's landmark Four-Star, Four-Diamond luxury property. Molinet's hospitality experience spans more than 20 years including his recent post as general manager of the prestigious 200-suite Wyndham Bel Age, located in the hills of West Hollywood, Calif. Molinet's previous positions ...
Dallas Real Estate Developer Craig Hall Making Plays in the Depressed Hotel Market / Aug 2002
March 30, 2002
Hotel Online News for the Hospitality Executive Dallas Real Estate Developer Craig Hall Making Plays in the Depressed Hotel Market By Steve Brown, The Dallas Morning News Knight Ridder/Tribune Business News Aug. 12--When developer Craig Hall bought two downtown Dallas office towers in the mid-1990s, he didn't have to worry about the competition there wasn't any. Most investors were still avoiding the battered downtown market when he snapped up the skyscrapers for about $60 million. Three years later, he almost doubled his money when he sold the Harwood Center Tower at Harwood and Bryan streets and the St. Paul T...
Key California Lodging Markets Los Angeles, Orange County and San Diego Now Improving / Aug 2002
March 30, 2002
Hotel Online Special Report Key California Lodging Markets Los Angeles, Orange County and San Diego Now Improving Los Angeles, CA (August 28, 2002) The California Hospitality Services Industry is beginning to improve. After surviving what may be its toughest 12 months in the past decade, the hospitality industry is beginning to show signs of life. After absorbing the deadly combination of the dot com meltdown, energy crisis, state budget deficit, 9/11attacks, drop in the stock market, and prolonged reductions in corporate travel, the key markets of Los Angeles, Orange County and San Diego are now improving. In a...
Larkin Hotels Acquires the 173-room Holiday Inn in Burlington, Vermont for Approximately $9.5 million / Aug 2002
March 30, 2002
Hotel Online Special Report Larkin Hotels Acquires the 173-room Holiday Inn in Burlington, Vermont for Approximately $9.5 million Holiday Inn to be Renovated, Retain Flag New York, NY - August 15, 2002 - Harper Hotels, a Muncie, Indiana-based hotel investor, has sold the 173-room Holiday Inn in Burlington, Vermont, to Larkin Hotels in a transaction valued at approximately $9.5 million, including renovations. Insignia/ESG Hotel Partners was the owner's exclusive representative in this sale. David McElroy, managing director in Insignia/ESG Hotel Partners' Boston office, oversaw the marketing and disp...
The Renaissance Suites Denver Broomfield Hotel, Managed by White Lodging Services, Set to Open / Aug 2002
March 30, 2002
Hotel Online Special Report The Renaissance Suites Denver Broomfield Hotel, Managed by White Lodging Services, Set to Open WASHINGTON August 26, 2002 Marriott International, Inc. (NYSE:MAR) announced today that the 232-room Renaissance Suites Denver Broomfield Hotel is scheduled to open on September 20, 2002. Situated within walking distance of the FlatIron Crossing Shopping Center, the new Renaissance Suites Denver Broomfield Hotel offers convenient access to several hiking/biking trails and three championship golf courses. Located at 500 FlatIron Blvd., the 10-story hotel is managed by White Lodgi...
The Howard Johnson Plaza Hotel & Conference Center in Bremerton, WA Undergoing Multi-year Renovation / Aug 2002
March 30, 2002
Hotel Online Special Report The Howard Johnson Plaza Hotel & Conference Center in Bremerton, WA Undergoing Multi-year Renovation New Furnishings, New Restaurant, New Amenities BREMERTON, WA The Howard Johnson Plaza Hotel & Conference Center in Bremerton, WA has completed the second phase of a multi-year renovation program designed to expand amenities and provide an enhanced guest experience, announced Frederick C. Roozen, Vice President, Asset & Facility Management, for Northwest Lodging International (USA) Inc., operator of the AAA-approved hotel. We are most pleased with the results of our con...
Adam Schlesinger Acquires Historic Brazilian Court Hotels for $18 million; Plans to Convert to a Condominium Hotel / Aug 2002
March 30, 2002
Hotel Online News for the Hospitality Executive Adam Schlesinger Acquires Historic Brazilian Court Hotels for $18 million; Plans to Convert to a Condominium Hotel By Paul Owers, The Palm Beach Post, Fla. Knight Ridder/Tribune Business News Aug. 24--PALM BEACH, Fla.--The new owner of the Brazilian Court Hotel is seeing stars -- five, to be exact. Local developer Adam Schlesinger this month completed an $18 million deal for the hotel and is working on the newest phase in the long life of the landmark Palm Beach property. Schlesinger hopes to turn the Brazilian Court into a condominium hotel where residents would buy ...
Boutique Hotels Hit Harder than Other Segments; Recovery Will Take Longer / Aug 2002
March 30, 2002
Hotel Online News for the Hospitality Executive Boutique Hotels Hit Harder than Other Segments; Recovery Will Take Longer By Tony Fong, The San Diego Union-Tribune Knight Ridder/Tribune Business News Aug. 21--With their unique designs and hip amenities, boutique hotels were the rage of the 1990s. So what if the nightly rates often exceeded $200? For the cool crowd or those who wanted a different kind of lodging experience, boutique hotels were the antidote to the big chains. But during the past year, in the wake of Sept. 11 and the economic chill, boutique hotels have been hit harder than any other part of the hote...
In Industry Slump, Boutique Hotels Try to Be Cool / Aug 2002
March 30, 2002
Hotel Online News for the Hospitality Executive In Industry Slump, Boutique Hotels Try to Be Cool By Randy Diamond, The Record, Hackensack, N.J. Knight Ridder/Tribune Business News Aug. 5--Two years ago, they were the place to stay. Cool boutique hotels were where your whole visit was an experience -- from lobbies that resembled swank lounges to rooms with fancy furniture, ionized air, filtered water, and fancy linens. But the boutique hotel industry has taken a beating for the past year. The recession and the dot-com bust, followed by the events of Sept. 11, cut occupancy levels to 45 percent or lower at many h...
More Boston Hotel Restaurants Face Wait Staff Lawsuits Alleging Tip Skimming / Aug 2002
March 30, 2002
Hotel Online News for the Hospitality Executive More Boston Hotel Restaurants Face Wait Staff Lawsuits Alleging Tip Skimming By Douglas Belkin, The Boston Globe Knight Ridder/Tribune Business News Aug. 2--Three more lawsuits were filed this week by Boston area food servers against restaurants that allegedly kept tips that customers left for waiters and waitresses. The suits, filed in Suffolk and Middlesex superior courts, bring to eight the number of area restaurants that have been sued since March. The attorney general's office has characterized the practice of "tip skimming" by restaurants as widespread in the...
Best Western International Adds Vacation Homes to Portfolio / Aug 2002
March 30, 2002
Hotel Online Special Report Best Western International Adds Vacation Homes to Portfolio CLERMONT, Fla., Aug. 15, 2002 - Best Western International expands its unique offering of hotels by welcoming IPG Florida Homes to its hotel base in the Orlando area. IPG offers vacation homes as a new option for Best Western customers. Best Western IPG Florida Homes consists of 50 detached single-family homes, each with its own private fully screened swimming pool and averaging only one to two years old. Fifty additional homes will be added to the system by the end of 2002. Homes are offered with three, four or fi...
Best Western Adds 41 Hotels in North America and 33 International Hotels in 2002 Second Quarter / Aug 2002
March 30, 2002
Hotel Online Special Report Best Western Adds 41 Hotels in North America and 33 International Hotels in 2002 Second Quarter PHOENIX, Aug. 5, 2002 - Best Western, The World's Largest Hotel Chain(tm), added 41 hotels in North America and 33 new international hotels in the second fiscal quarter ended May 30. In North America, Best Western opened 37 hotels in the United States and four hotels in Canada. Second quarter US hotel additions include: Best Western Palm Desert Resort (152 rooms), Palm Desert, Calif.; Best Western Coeur d'Alene Inn (122 rooms), Coeur d'Alene, Idaho; Best Western University Plaza (159...
Bellagio Planning $375 million Expansion; 925 room Tower, 60,000 Sq Ft Meeting Space / Aug 2002
March 30, 2002
Hotel Online Special Report Bellagio Planning $375 million Expansion; 925 room Tower, 60,000 Sq Ft Meeting Space LAS VEGAS, Aug. 27, 2002 - The $1.6 billion Bellagio, which has earned resounding applause as the most spectacular and romantic resort in the world, will soon delight visitors around the globe with a meaningful encore: the addition of a 925-room spa tower to create an unprecedented oasis of privacy in the elegant and exciting world of Bellagio. The ambitious, $375 million expansion will begin construction in mid-2003 and is scheduled for completion in December 2004. In addition to the new roo...
Kirby Payne and Scott Anderson Team to Manage and Market Colorado Timeshare, Resort / Aug 2002
March 30, 2002
Hotel Online Special Report Kirby Payne and Scott Anderson Team to Manage and Market Colorado Timeshare, Resort Minneapolis, MN and Telluride, CO (August 2, 2002) Hospitality Industry Veterans Kirby D. Payne, CHA, President of Minneapolis-based American Hospitality Management Company and Chairman of the American Hotel & Lodging Association, and Scott W. Anderson, President of Telluride, Colo.-based High Country Hospitality, joined forces this month to open Bear Creek Lodge at Mountain Village in Telluride, a timeshare/resort. Smiling Hospitality Inc., an affiliate of American Hospitality Management Company, was...
Sol Meliá and the Balearic Islands University create the Sol Meliá Chair of Tourism Studies / Aug 2002
March 30, 2002
Hotel Online Special Report Sol Meliá and the Balearic Islands University Create the Sol Meliá Chair of Tourism Studies The main objective is to promote superior quality tourism through better education and training Sol Meliá provides an annual contribution of 60.000 Euros to finance program activities The chair comprises, amongst other things, of an annual award to be known as the Gabriel Escarrer Tourism Studies Award with a prize of 12,000 Euros August, 2002 - The Chairman of Sol Meliá, Gabriel Escarrer Juliá, and the Rector of the Balearic Islands University, Llorenç Huguet Rotger,...
Le Royal Meridien Bahrain Commitment to Service Includes 12 Traditional Style Gentlemen Butlers / Aug 2002
March 30, 2002
Hotel Online Special Report Le Royal Meridien Bahrain Commitment to Service Includes 12 Traditional Style Gentlemen Butlers Dubai, July 2002 - In support of Le Royal Meridien Bahrains commitment to the highest level of service, the Kingdoms only beach resort has introduced 12 traditional-style gentlemen butlers. The scheme, which has seen the men undergo intensive training throughout the last two months, is the first of its kind in the Kingdom, and is operating as a pilot for possible roll-out in further Le Royal Meridien properties in the region. The new butlers have been hand-picked from the hospitality sector...
Bozhidar Bachvarov Named Director of Front Office Operations at The Doral Park Avenue Hotel / Aug 2002
March 30, 2002
Hotel Online Special Report Bozhidar Bachvarov Named Director of Front Office Operations at The Doral Park Avenue Hotel NEW YORK, NY, August 7, 2002 -- The Doral Park Avenue Hotel announces the appointment of Bozhidar Bachvarov as Director of Front Office Operations. Mr. Bachvarov will be responsible for all aspects of the Front Office, as well as for strategic online distribution procedures. Born and raised in Bulgaria, Mr. Bachvarov, has a decade of domestic and international management experience in the hospitality and tourism industries and is fluent in five languages. Prior to joining the Do...
