Low Stock Prices May Mean Privatization, More Building Delays for Lodging Companies / PricewaterhouseCoopers / Oct 1998

April 30, 1998

Hotel Online Special Report Low Stock Prices May Mean Privatization, More Building Delays for Lodging Companies /  PricewaterhouseCoopers Report NEW YORK, Oct. 1, 1998  Declines in the earnings and price/earnings ratios of publicly traded U.S. lodging companies will have four primary effects on lodging entities and the industry overall, according to the PricewaterhouseCoopers lodging and gaming group. With their stock valuations at or near 52-week lows, many public hotel companies may seriously consider "going private," PricewaterhouseCoopers says. "Today, a great many lodging stocks are trading below their companies'...

April 30, 1998

Hotel Online Special Report Douglas Longerbone Named President of  U.S. Franchise Systems’ Management Company Former Red Roof Executive Brings Many Years of Experience to  U.S. Franchise Systems’ Growing Management Portfolio ATLANTA (Oct. 14, 1998) – U.S. Franchise Systems, Inc. (Nasdaq: USFS), today announced the appointment of Douglas Longerbone as president of its management company, USFS Management, Inc.  U.S. Franchise Systems is the franchisor for the Microtel Inn & Suites, Hawthorn Suites and Best Inns & Suites hotel brands. In announcing the appointment, Mike Leven, president and chief executive offic...

Leisure Hotels Group of Companies Ranked Among the Nation's Top 100 Hotel Owners / Developers / Oct 1998

April 30, 1998

Hotel Online Special Report Leisure Hotels Group of Companies Ranked Among the Nation's Top 100 Hotel Owners / Developers  Hutchinson, Kan. - October 21,1998 - Leisure Development, L.L.C., part of the Leisure Hotels Group of Companies, was recently recognized with a prestigious honor as one of the Top 100 Owners/Developers' across the nation in the September 7, 1998, edition of Hotel Business. Leisure Hotels Group of Companies owns 10 properties in Kansas and Missouri. Leisure Development, L.L.C., has two new properties under construction, three properties in development and plans for future expansion in Iowa, Minnesota, N...

LaSalle Hotel Properties Reports Decrease in YTD Third Quarter Occupancy of 1.9% / ADR Up 7.6% / Oct 1998

April 30, 1998

Hotel Online Special Report LaSalle Hotel Properties Reports Decrease  in YTD Third Quarter Occupancy of 1.9% / ADR Up 7.6% Statistical Data for the Hotels WASHINGTON, D.C., Oct. 29, 1998 -  LaSalle Hotel Properties (NYSE: LHO) reported an increase in funds from operations (FFO) of 40 percent to $11.9 million for the third quarter versus $8.5 million for pro forma third quarter 1997. On a per share/unit basis, the third quarter 1998 FFO was $0.65 versus pro forma 1997 third quarter FFO of $0.47, a 38 percent increase. On a combined pro forma/actual basis for the first nine months 1998 versus pro forma 1997, FFO i...

The American Chef's Symposium – Bringing in Celebrity/Expert Chefs from All Over the U.S. / Oct 1998

April 30, 1998

Hotel Online Special Report "The American Chef's Symposium" -  Bringing in Celebrity/Expert Chefs from All Over the U.S.  Lansing MI - October 1998 - The Fall Series at the Kellogg Hotel & Conference Center on the campus of Michigan State University features outstanding chefs from the Midwest to the Southwest, presenting lectures, cooking classes and dinners with the chef in the center's flagship restaurant, The State Room. Reprising the enormously popular  Spring 1998 Series, the Fall Series opened September 24 with Chefs Michael Smith and Debbie Gold from the famed American Restaurant in Kansas City, MO. The line-...

Best Western Names James P. Evans New President/CEO / Oct 1998

April 30, 1998

Hotel Online Special Report Best Western Names James P. Evans  New President/CEO LAS VEGAS, Oct. 23, 1998 - Best Western International has named veteran hospitality and association leader James P. Evans as its new president and chief executive officer, according to an announcement today by Chairman of the Board Don Seaton during opening meetings of Best Western's annual international convention here. Evans is scheduled to address nearly 4,000 Best Western hoteliers and convention attendees on Monday. "We are very pleased that Jim has agreed to assume the professional leadership of Best Western International," says Se...

Jim Berkley Named GM at Marriott Residence Inn Orlando / Oct 1998

April 30, 1998

Hotel Online Special Report Jim Berkley Named GM at  Marriott Residence Inn Orlando October 12, 1998 Orlando, FL --- The Marriott Residence Inn International Drive has named Jim Berkley, CHA as General Manager of the 176 all suite hotel. The hotel is owned and operated by RFS Hotels. The hotel is presently the premier extended stay upscale brand on International Drive. Berkley is a 13 year veteran of the Orlando hotel market and has previously been General Manager of Holiday Inns, Days Suites and EconoLodges.   Contact: www.marriottresidenceinn Also See: Equity Inns and RFS Hotel Investors Cancel Mer...

INTxx Launches Cyberoom, an Internet Hotel Amenity / Oct 1998

April 30, 1998

Hotel Online Special Report INTxx Launches Cyberoom, an Internet Hotel Amenity MINNEAPOLIS, Oct. 1, 1998 -  Integrated Network Technologies, Inc. (INTxx(R)), an Internet technologies company, launched Cyberoom, the first hotel in-room computer-based high-speed Internet connection in Minnesota.  Cyberoom is a customized Internet Web service that integrates high-speed Internet access with applications running on computer terminals placed in guestrooms. Cyberoom includes features designed to provide the guest with the ability to quickly locate information from the Web including sending e-mail, reviewing investments, finding...

International Hotel Development Requires Patience / H&MM / Steve Bergsman / Oct 1998

April 30, 1998

Hotel Online Special Report  Chart: Hotel & Motel Management's Top 100 Hotel Companies / Sept 1998 By Steve Bergsman H&MM Contributing Editor Oct 1998 Most large American hotel chains have been developing on a global basis for at  least a decade. It hasn't gotten any easier.  The problems are twofold: Economic swings in certain foreign countries caused companies to redefine expansion plans; and aggressive consolidation in the United States over the past two years means larger companies now need to coordinate different brands, if not a whole array of different products.  June Farrell, vice president-international publ...

Venetian Resort-Hotel-Casino will open its doors in 1999 with Infinium applications fully implemented / Oct 1998

April 30, 1998

Hotel Online Special Report Venetian Resort-Hotel-Casino will open its doors in 1999  with Infinium applications fully implemented Oct 12, 1998 - Infinium Software, Inc. (NASDAQ:INFM), a leading developer of Web - and server - based business software applications, today announced that The Venetian Resort - Hotel - Casino, a Las Vegas resort set to open in April of 1999, has selected Infinium Financial Management and Infinium Human Resources for IBM's(R) AS/400(R).  The Venetian Resort-Hotel-Casino chose Infinium to manage the complex accounting and human resources operations of this "city within a city." When compl...

The IH&RA Millennium Bug Campaign / Oct 1998

April 30, 1998

Hotel Online Special Report The IH&RA Millennium Bug Campaign This series of newsbriefs, drawn up by a team of experts in hospitality technology, is designed by the International Hotel & Restaurant Association to help hospitality businesses beat the Millennium Bug. Although a wide variety of publications on the subject are available, many are written for IT professionals and tend to be technical in nature. This IH&RA publication provides a relatively non-technical overview of the problem, shows operators and managers the risks involved, and explains the steps needed to deal with them. Why worry about January 1st 2000? ...

IH&RA Campaign Helps Hospitality Businesses Beat the Millennium Bug / Oct 1998

April 30, 1998

Hotel Online Special Report IH&RA Campaign Helps Hospitality Businesses  Beat the Millennium Bug Paris, 5 October 1998 - The International Hotel & Restaurant Association (IH&RA) has launched an information campaign via a series of newsletters to advise hotels and restaurants how to beat the millennium bug and prepare their operations for the Year 2000 date change.  While most major international hotel groups have started to ensure their systems are 2000 compliant', independent and smaller operators tend to be less well prepared.  "Many people are still unaware of the implications, but one thing is sure - business p...

IDT Database Technologies Creates new Hospitality Division / Oct 1998

April 30, 1998

Hotel Online Special Advertisement IDT Database Technologies Creates new Hospitality Division  Philadelphia PA - October 8, 1998 - IDT Database Technologies announces the creation of a new hospitality division.  IDT Hospitality Group will focus on database design, creation and maintenance for the hotel and resort industry. IDT Database Technologies, a Philadelphia-based database services and software company, announced today that it has formed as new division focused exclusively on the hospitality industry marketplace. IDT Database Technologies – Hospitality Group, will be staffed by industry professionals with yea...

Hyatt Installing All-in-One Printer/Copier/Fax Machines in 5200 Rooms / Oct 1998

April 30, 1998

Hotel Online Special Report Hyatt Installing All-in-One Printer/Copier/Fax Machines  in 5200 Rooms CHICAGO - Oct. 21, 1998--Hyatt guests traveling with laptop computers say that an in-room printer is high on their wish list. In response to this customer feedback, Hyatt Hotels Corporation announced today it is installing new, all-in-one printer/copier/fax machines in 5200 rooms in approximately 90 Hyatt business hotels in the U.S. and Canada. Demand for these machines is expected to be high -- additional Hyatt research shows that almost two-thirds of American business travelers use laptops when on the road. Whether it...

Leisure Development, L.L.C. Begins Construction on Microtel Property in Hutchinson KS / Oct 1998

April 30, 1998

Hotel Online Special Report Leisure Development, L.L.C. Begins Construction  on Microtel Property in Hutchinson KS ATLANTA (Oct. 9, 1998) - Leisure Development, L.L.C. has broken ground on Kansas' third Microtel Inn & Suites.  Located at 1420 N. Lorraine in Hutchinson, a mid-1999 opening is planned.  There is currently a Microtel open in Olathe and a Microtel under construction in Overland Park.  "The Hutchinson property is an excellent example of Microtel's growing presence in Kansas," said Mike Leven, president and CEO of Atlanta-based U.S. Franchise Systems, Inc.  (Nasdaq: USFS), owner of the Microtel brand.Â...

Host Marriott Reports REVPAR growth of 7.9 percent at YTD Third Quarter / Oct 1998

April 30, 1998

Hotel Online Special Report Host Marriott Reports REVPAR growth of 7.9 percent  at  YTD Third Quarter Comparative Full Service Hotel Statistics BETHESDA, Md., Oct. 13, 1988 -  Host Marriott Corporation (NYSE: HMT) today reported its third quarter 1998 results of operations, noting that Comparative Funds From Operations ("Comparative FFO," which represents Funds From Operations, as defined by the National Association of Real Estate Investment Trusts, plus deferred taxes) increased 33 percent to $76 million for the quarter as compared to $57 million for the 1997 third quarter. On a per share basis diluted for the conv...

Microtel Inn & Suites First International Hotel Breaks Ground in San Pedro Sula, Honduras / Oct 1998

April 30, 1998

Hotel Online Special Report Microtel Inn & Suites First International Hotel Breaks Ground in San Pedro Sula, Honduras ATLANTA (Oct. 7, 1998) - Guatemala-based Connor/Jacobson Hotels (CJ Hotels) has broken ground on Microtel's first international hotel in San Pedro Sula, Honduras.  San Pedro Sula, the industrial capital of Honduras, is one of the fastest growing cities in Latin America. Central America's first Microtel Inn & Suites is the closest hotel to the city's new international airport and the Lima-Progresso city districts.  A mid-1999 opening is planned. "The Honduras property is just the beginning of Microtel's g...

Hollywood Park Completes $340 Million Acquisition of Casino Magic Corporation / Oct 1998

April 30, 1998

Hotel Online Special Report Hollywood Park Completes $340 Million Acquisition  of Casino Magic Corporation INGLEWOOD, Calif., Oct 15, 1998 -  Hollywood Park, Inc. (NYSE: HPK) today announced the completion of its acquisition of Casino Magic Corp. (Nasdaq: CMAG). "With the closing of this transaction, which we expect will be immediately accretive to Hollywood Park's earnings, the company will become an expanded, more diversified gaming, sports and entertainment operation," said R.D. Hubbard, Chairman and CEO of Hollywood Park. "The Casino Magic acquisition will provide Hollywood Park with a strong platform to grow our ...

Hilton Reports Third Quarter Net Income Down $15 Million From Same Quarter Last Year / Oct 1998

April 30, 1998

Hotel Online Special Report Hilton Reports Third Quarter Net Income Down $15 Million  From Same Quarter Last Year - Supplementary Hotel Statistical Information BEVERLY HILLS, Calif - Oct. 20, 1998--Hilton Hotels Corp. (NYSE:HLT) Tuesday reported results for the third quarter and nine months ended September 30, 1998. Net income for the quarter totaled $79 million, or $.30 per diluted share, compared to $94 million, or $.35 per diluted share, last year. In an announcement made September 14, the company had indicated that net income per diluted share for the third quarter was expected to be in the low-30 cent range...

Royal Visits Mark Dwarika's Kathmandu Village Hotel Dedication in Kathmandu, Nepal / Oct 1998

April 30, 1998

Hotel Online Special Report Royal Visits Mark Dwarika's Kathmandu Village Hotel Dedication in Kathmandu, Nepal;  Modern Hotel Created in the Style of a Nepali Palace KATHMANDU, Nepal - Oct. 19, 1998--Dwarika's Kathmandu Village Hotel, a symbol of national heritage preservation, community development and ethnic arts education, opened two new luxury wings this weekend, marking 46 years of one man's dream to stem the destruction of traditional Nepali architecture. Following this spring's inauguration the hotel's fountains by Charles, Prince of Wales, a noted conservationist, King Birendra and Queen Aishwarya of Nepal jo...

Hawaii Hotel Occupancy Drops While Room Rates Hold Steady Reports PricewaterhouseCoopers / Oct 1998

April 30, 1998

Hotel Online Special Report Hawaii Hotel Occupancy Drops  While Room Rates Hold Steady - Reports PricewaterhouseCoopers NEW YORK, Oct. 22, 1998 -  Occupancy at Hawaii's hotels and resort condominiums was 73.7 percent in August 1998, according to the Lodging Research Network (www.lodgingresearch.com), the comprehensive Internet-based resource for lodging industry data and information from PricewaterhouseCoopers, the world's largest professional services firm. That's down 4.3 percentage points from 78.1 percent in August 1997. Meanwhile, average daily room rates (ADR) in Hawaii essentially held steady, rising just 35 ce...

Harrah's New Orleans Casino to Emerge from Bankruptcy and Resume Construction; Will Employ 2,500 Upon Completion / Oct 1998

April 30, 1998

Hotel Online Special Report Harrah's New Orleans Casino to Emerge from Bankruptcy  and Resume Construction;  Will Employ 2,500 Upon Completion Jazz Casino Company, LLC Receives Final Governmental Approval to Proceed BATON ROUGE, La., Oct. 20, 1998 -  Jazz Casino Company, LLC, the owner of the New Orleans land-based casino, was found suitable today by the Louisiana Gaming Control Board, paving the way for execution of the amended casino contract. Today's action means that the project has passed all governmental and regulatory approvals necessary to emerge from bankruptcy. Construction is expected to begin later thi...

Jackson-Shaw Company Developing 325 room Hampton Inn in Las Vegas / Oct 1998

April 30, 1998

Hotel Online Special Report Jackson-Shaw Company Developing 325 room  Hampton Inn in Las Vegas The Jackson-Shaw Company broke ground on the six-story, 325 room Hampton Inn7 Tropicana in Las Vegas, Nevada on April 13, 1998. Within a  quarter-mile of Las Vegas Boulevard (the "Strip"), the project is strategically located to provide value conscious business and family travelers a convenient lodging alternative near the business and entertainment core.  "The Hampton Inn7 Tropicana is designed to appeal to business travelers and vacationers seeking high quality, modestly priced accommodations in the heart of Las Vegas," ...

Limited Service Pioneer Hampton Inns Now has 800 Properties / Oct 1998

April 30, 1998

Hotel Online Special Report Limited Service Pioneer Hampton Inns  Now has 800 Properties Fun Facts Few People Know About Hampton Inn MEMPHIS, Tenn - Oct. 27, 1998--Promus Hotel Corporation today celebrated a significant milestone event -- the expansion of its Hampton Inn hotel system to more than 800 properties. The occasion was marked at a special grand opening ceremony at the Hampton Inn-Houston-Willowbrook Mall in Texas. To commemorate the event, Ray Schultz, chairman and chief executive officer of Promus and founder of the Hampton Inn brand, together with Gary Tharaldson of Tharaldson Management Enterprises and ...