Hotels Using Airline Sales Techniques to Fill Excess Inventory / Dec 2001

April 30, 2001

Hotel Online Special Report Hotels Using Airline Sales Techniques  to Fill Excess Inventory December 5, 2001 - Due to the drastic decline in travel, hotels are becoming more willing to reduce their rates in an effort to dispose of distressed inventory mirroring the airline industries discount efforts, known in the industry as “fill them up fares”.   Property managers and other travel related businesses are realizing that it is better to sell at a lower price than to absorb the cost of an empty room.  “I find hotels are starting to work like airlines, focusing more on filling rooms at lower prices then we (hotels) t...

Hyatt Regency Wichita Might Switch Management Companies; Crestline Out, Hyatt In / Dec 2001

April 30, 2001

Hotel Online News for the Hospitality Executive Hyatt Regency Wichita Might Switch Management Companies; Crestline Out, Hyatt In By Lillian Zier Martell, The Wichita Eagle, Kan. Knight Ridder/Tribune Business News  Dec. 14, 2001 - Hyatt Corp. will take over management of the Hyatt Regency Wichita on Jan. 8 if the City Council approves an agreement with the company Tuesday.  Customers and the general public aren't likely to notice much difference.  Hyatt has agreed to retain Gerald Barrack as general manager and anticipates making few outward changes, said Lori Armon, director of corporate public relations.  The hote...

New Rules for Hotel Workouts: REMICs for Dummies / The Global Hospitality Advisor / JMBM / December 2001

April 30, 2001

Hotel Online  Special Report The Global Hospitality Advisor - New Rules for Hotel Workouts:  REMICs for Dummies   December 2001 The CMBS Market is Huge ...and Largely a Mystery The CMBS (Collateralized Mortgage Backed Securities) market has fundamentally changed the landscape in the United States for commercial real estate finance—the legal structure, ownership, management and rules of the game. Securitization has also forever altered the behavior of the troubled loan participants and consequences that follow in the mortgage default dance. Given the pervasive “success” of CMBS financing, it is nothin...

The Hotel Escalante in Naples, Florida Offers Guests Condo Ownership / December 2001

April 30, 2001

Hotel Online  Special Report The Hotel Escalante in Naples, Florida  Offers Guests Condo Ownership NAPLES, Fla. (Dec 2001) -- Ever fantasized about living in a hotel?  Daily housekeeping … room service breakfast on the lanai … pampering service fit for royalty?  Hotel Escalante, which just celebrated its first full year of operation, is answering its guests’ demands to own a piece of the hotel by offering its guest rooms for condominium ownership.  Escalante is managed by Naples-based Coral Beach Hotels & Clubs, and marketed under Coral Beach’s Coral Collection of Fine Hotels & Resorts. “The hotel ...

Host Marriott Temporarily Suspends Dividends on the Common Stock; Results Are Still Well Below Prior Year Levels / December 2001

April 30, 2001

Hotel Online Special Report  Host Marriott Temporarily Suspends Dividends on the Common Stock; Results Are Still Well Below Prior Year Levels December 6, 2001 - Host Marriott Corporation today announced an amendment to its bank credit facility and the declaration of a dividend on its Series A, B and C Preferred Stock, as detailed below. In addition, the company provided updated operating information for its fourth quarter of 2001. Bank Credit Facility The company amended the terms, including financial covenants, of its bank credit facility for the period through August 15, 2002 in order to provide greater financial f...

Hotel Company Finds Holy Grail: Pleases Investors, Dramatically Reduces Courier Charges, Staff Overtime During Expansion Thrust / December 2001

April 30, 2001

Hotel Company Finds Financial Holy Grail: Pleases Investors, Dramatically Reduces Courier Charges, Staff Overtime During Expansion Thrust December 11, 2001 - When Michael Gallegos and James Long founded San Diego - based American Property Management Corp. ten years ago, they took a page from their childhood growing up in the shadow of New Mexico’s Rocky Mountains:  “Excellence is an attitude.” The domestic, privately held hotel ownership and management company has consciously cultivated its senior level managers, most of whom started with the company many years ago and worked their way up.  It is this team that has grown ...

Holiday Parties May Lead to a Number of Legal Pitfalls / December 2001

April 30, 2001

Hotel Online  Special Report Holiday Parties May Lead to a  Number of Legal Pitfalls New Poll Suggests that Employers Should Regulate Holiday  Functions, But Not Be Liable For Employee Misconduct      December 12, 2001 - At this time of year, employers are busy making plans for their annual holiday parties. As they wrap up the details, a newly released national public opinion survey reveals that the majority of Americans believe that employers should closely regulate parties, but at the same time not be held legally liable for the behavior of their employees. The finding, along with the disclosur...

Harrah's East Chicago Hotel Brings 95 Jobs, 293 Rooms to Region / Nov 2001

April 30, 2001

Hotel Online Special Report Harrah's East Chicago Hotel Brings 95 Jobs,  293 Rooms to Region CHICAGO - Dec. 21, 2001 -- Harrah's Entertainment, Inc. (NYSE:HET) today opened the first 10 floors of its newest hotel, a $47 million facility overlooking Lake Michigan.  The hotel, widely regarded as Northern Indiana's finest, represents a significant boost to the local economy, adding 95 new jobs to the region's workforce.  When complete in early February, Harrah's East Chicago hotel will feature 293 rooms on 15 floors. Harrah's opened the first 140 rooms today following a ribbon-cutting ceremony attended by East Chicag...

Hampton Opens Nine Hotels During October and November; Includes Two New Hotels, in New York and Canada / December 2001

April 30, 2001

Hotel Online Special Report Hampton Opens Nine Hotels During October and November; Includes Two New Hotels, in New York and Canada MEMPHIS, Tenn., December 6, 2001-- Hampton, the national brand of mid-priced Hampton Inn? and Hampton Inn & Suites hotels, today announced that it opened nine Hampton Inn and Hampton Inn & Suites hotels during October and November 2001.  The addition of 848 rooms brings the brand’s total portfolio to 1,136 hotels, as of Nov. 30, 2001.  The new openings are comprised of five Hampton Inn hotels and four Hampton Inn & Suites hotels, including one international property, adding to the brand'...

28 Hospitality, Travel and Tourism Companies Now Participating in HSMAI's Research Advisory Council / December 2001

April 30, 2001

Hotel Online Special Report Hospitality, Travel and Tourism Companies Totaling 28 Now Participating in HSMAI's Research Advisory Council WASHINGTON, DC (Dec. 10, 2001) – As the first year of the HSMAI Foundation’s Corporate Membership Program comes to a highly successful close – accomplishing its first year goals to initiate research and benchmark studies specific for the sales and marketing discipline – the organization is seeking new members for 2002.  The existing membership base is an impressive and diverse group of 28 companies reflecting a cross-section of the industry’s most prominent players, who throug...

Casino Development Remains Strong as Compared to 2000, $14.4 billion in Development Pipeline / HREC / December 2001

April 30, 2001

Hotel Online  Special Report Casino Development Remains Strong as Compared to 2000, $14.4 billion in Development Pipeline Denver, Colorado, December 14, 2001 - Casino development remains strong as compared to 2000 despite the impact that September 11th and the national recession have had on the nation’s tourism industry.  As of December 2001, roughly $3.9 billion in non-Native American casino development is currently under construction or slated for imminent development in the United States, a slight decline of 9% from last year’s survey.  Proposed/highly likely gaming projects currently total $4.5 billion...

Hospitality Financial and Technology Professionals Schedules Full Roster of Educational Events Throughout 2002 / December 2001

April 30, 2001

Hotel Online  Special Report Hospitality Financial and Technology Professionals Schedules Full Roster of Educational Events Throughout 2002 AUSTIN, TEXAS, December 27, 2002 — Hospitality Financial and Technology Professionals (HFTP) has scheduled a full roster of educational events throughout 2002 geared towards financial and technology professionals. The programming includes the high-caliber hospitality technology conference at HITEC, as well as a number of opportunities for professional development. HFTP will also offer several exam times for the Certified Hospitality Accountant Executive (CHAE) and the Certified ...

The Ritz-Carlton Hotel Company, L.L.C. Renews Nationwide Agreement with HCAREERS / December 2001

April 30, 2001

Hotel Online Special Report North Vancouver, BC – December 6, 2001 – The Ritz-Carlton Hotel Company, L.L.C. renews their nation wide agreement with Hcareers until December 2002.  The renewal continues Hcareers’ role as the #1 point of recruitment advertising for The Ritz-Carlton, and as their technology provider for the employment section of The Ritz-Carlton corporate web site.  The deal also includes all jobs posted on Hcareers branded with The Ritz-Carlton logo and corporate profile pages for each individual property complete with interactive maps.  Matthew Feldman, Director of Business Development for Hcareers,...

Designers of Las Vegas' New Green Valley Ranch Resort Bring Mediterranean Authenticity to Resort/Casino / December 2001

April 30, 2001

Hotel Online Special Report Scott Avjian Design Inc. Creates European Setting for  Green Valley Ranch Resort Off the Las Vegas Strip  LAS VEGAS - Dec. 4, 2001--Las Vegas has not seen anything like it.       The newest resort/casino slated for opening Dec. 18 will allow residents and tourists to enjoy Mediterranean style and panoramic "Vegas Strip" views unique to any other resort in this premier tourist destination.      When the new Green Valley Ranch Resort opens its doors to the public, it will also open up a new world for vacationers seeking an elegant and relaxing environment.    Perched along a ...

Glade Springs Resort Owned by Bright Enterprises Appoints Benchmark as Manager / December 2001

April 30, 2001

Hotel Online  Special Report  Glade Springs Resort, Owned by Bright Enterprises, Appoints Benchmark as Manager THE WOODLANDS, TEXAS, December 14, 2001…Benchmark Hospitality has announced that it has been selected to manage the exclusive Glade Springs Resort, located in Beckley, West Virginia. Burt Cabañas, chairman and chief executive officer, made the announcement and warmly welcomed the Glade Springs staff into the Benchmark family. Benchmark began managing the property on Monday, December 3, 2001.                            Glade Springs is a gated estate-like resort located i...

German Institutional Investors Acquiring Hotel Assets Beyond Germany's Borders / December 2001

April 30, 2001

Hotel Online  Special Report German Institutional Investors Acquiring Hotel  Assets Beyond Germany's Borders Jones Lang LaSalle Hotels Study on German Institutional Investors Frankfurt, 17th December 2001 — German institutional investors have the potential to become a truly pan-European investment force, according to a new report released by Jones Lang LaSalle Hotels.  According to the research, German open and closed-ended funds currently have approximately €10.8 billion to invest into European real estate.  “Given the existing average asset allocations, this translates into a potential €400 mi...

Gaylord Entertainment Selects Canyon Ranch's SpaClub division to Operate the Spa Facility at the Gaylord Palms Resort / December 2001

April 30, 2001

Hotel Online  Special Report Gaylord Entertainment Selects Canyon Ranch's SpaClub Division to Operate the Spa Facility at the Gaylord Palms Resort NASHVILLE, Tenn. (Dec. 13, 2001) – Gaylord Entertainment Company (NYSE: GET), a diversified hospitality and entertainment company, has finalized plans for Canyon Ranch, the leading operator of destination health resorts, to operate the spa and fitness facility at its state-of-the-industry property Gaylord Palms Resort and Convention Center. The spa facility will be operated by Canyon Ranch's SpaClub division.  "Canyon Ranch is world renowned not only for its exce...

AH&LA's Fifth Annual Legislative Action Summit Will Address the Concerns of the U.S. Lodging Industry with Members of Congress / December 2001

April 30, 2001

Hotel Online  Special Report AH&LA's Fifth Annual Legislative Action Summit  Will Address the Concerns of the U.S. Lodging  Industry with Members of Congress Washington - December 17, 2001 - The American Hotel & Lodging Association's (AH&LA) fifth annual Legislative Action Summit (LAS) promises to be a major event on the lodging industry calendar. The LAS is the only conference that brings the unique issues and concerns of the entire lodging industry directly to Members of Congress. Hoteliers from around the country will assemble at the Loews L'Enfant Plaza Hotel in Washington, D.C., from February 26-28 to ...

John R. Farquharson Named Paul E. Wise Executive in Residence at the University of Delaware / December 2001

April 30, 2001

Hotel Online Special Report  John R. Farquharson Named Paul E. Wise Executive in Residence at the University of Delaware 29 Nov 2001 - John R. Farquharson, President of the International Food Safety Council and Executive Emeritus ARAMARK Corporation, was named a Paul E. Wise Executive in Residence (EIR) in the Department of Hotel, Restaurant & Institutional Management at the University of Delaware in the fall semester.  As a "Wise Professor", Mr. Farquharson will have the opportunity to share his wealth of leadership experiences with our undergraduate and graduate students at U.D. as HRIM focuses on "Preparing leade...

Hotel Common Sense – This Is a Family / John Hogan CHA MHS / December 2001

April 30, 2001

Hotel Online Special Report   Hotel Common Sense – This Is a Family December 2001   "Family business -talk about Greek tragedies revisited. I swear, the typical founder of a family business would have no problems whatsoever if he could be immortal and celibate." Leon Danco, Center for Family Business Innkeeping has been a family business since man began offering the concept of bed and breakfast.  Long before the days of mega-chains, multiple brand franchises and 1,000 room casinos, families provided refuge from the weather, hospitality and a resting place for the weary traveler around the world. In this t...

April 30, 2001

Hotel Online  Special Report Distance No Longer An Obstacle for Hospitality Executives Seeking a Master’s from  Florida International University MIAMI, Fla. (Dec. 11, 2001) -- Florida International University’s acclaimed School of Hospitality Management is launching an innovative new method of delivering master’s degree instruction that will make an advanced degree much more accessible to working executives. The Executive Master’s Track Distance Learning Program is an intensive, 18-month program that will make coursework and lectures available via CD ROM and the Internet, thus enabling students to complete the degrees...

FelCor Completes Private Placement of $100 million of Senior Unsecured Notes; Strengthening Capital Structure in Anticipation of Challenging Operating

April 30, 2001

Hotel Online Special Report FelCor Completes Private Placement of $100 million  of Senior Unsecured Notes; - Strengthening Capital Structure in Anticipation of  Challenging Operating Environment IRVING, Texas, Dec. 3, 2001 - FelCor Lodging Trust Incorporated (NYSE: FCH - news), one of the nation's largest hotel real estate investment trusts (REITs), and its subsidiary, FelCor Lodging Limited Partnership (FelCor LP), today announced it has closed on the private placement of $100 million of Senior Unsecured Notes. The 9 1/2 percent Senior Notes are an add-on to the Company's existing $500 million in Senior Notes Due...

European 4 Star Hotels Suffer from September 11th Attacks / MKG Consulting / December 2001

April 30, 2001

Hotel Online Special Report European 4 Star Hotels Suffer from  September 11th Attacks Attack results of September 11th and of the conflict in  Afghanistan on the hospitality industry in Europe. December 5, 2001 Methodology: This study is based on a sample of 3,576 corporate chain hotels in Europe representing 366,863 rooms. Data, collected on a monthly basis hotel per hotel, are calculated according to the breakdown of supply and the weight of each country in the European Union. These results are taken from figures given by hotel chains in France and in Europe, where MKG Consulting is the official statistic ...

Companies Feeling Better About Executive Air Travel; Safety Major Employee Worry / The Conference Board / December 2001

April 30, 2001

Hotel Online  Special Report Companies Feeling Better About Executive Air Travel;  Safety Major Employee Worry / The Conference Board NEW YORK - December 12, 2001- Companies are finally feeling more confident about their executives traveling in the United States, but safety is still a major employee concern, The Conference Board reports in its latest Executive Action report.  The American Airlines jet crash in New York in November further heightened safety concerns. "Safety remains a primary concern for many business travelers," says Michael Seltzer, Director of Business Enterprises for Sustainable Travel (BEST) of...