Minor Hotels to Debut in Singapore With Avani Hotels & Resorts Lifestyle Brand
Avani Hotels & Resorts | September 3, 2024
Brandt Hospitality Group Getting Great Results From Accounting Software Partner
Aptech | June 5, 2024
Finance & Development
Welcome Group Plans Late Spring Opening of AC Hotel Los Angeles South Bay
Welcome Group, Inc. | March 13, 2019
El Segundo, California – March 13, 2019 – The highly anticipated AC Hotel Los Angeles South Bay, from design-led European lifestyle hotel brand AC Hotels by Marriott®, is slated to open its doors to guests in just a few short months. Located at 2130 East Maple Ave. in the burgeoning South Bay region of Los Angeles County and minutes from Los Angeles International Airport (LAX), the 180-room new-build hotel will provide a sophisticated option for business and leisure travelers. Introducing a new hotspot for guests, as well as area residents and businesses, the six-story hotel will be home to a rooftop restaurant and bar w...
Key International Breaks Ground on AC Hotel by Marriott in Fort Lauderdale Beach, Florida
Key International | March 13, 2019
MIAMI (March 13, 2019) ─ Prominent, Miami-based real estate investment and development company Key International has broken ground on an AC Hotel by Marriott, the design-led lifestyle hotel brand by Marriott International. The property, which was acquired in 2016 as three adjoining land parcels that span more than a half-acre, is located in prime Fort Lauderdale Beach, Fla., and will feature 171 guest rooms amidst 10 stories. Located just steps from the beach, at 3029 Alhambra Street, the AC Hotel by Marriott Fort Lauderdale Beach is situated directly abutting the area's most popular tourist thoroughfare, Florida State Road A1A. The d...
3 Important Reasons Why Hotel Asset Managers Have Become Such Hot Property
Fred Novella | March 13, 2019
By Fred Novella Hotel asset management is a booming profession. Thanks to the increasing complexities of today's hospitality market where disruptors seemingly turn up out of nowhere and operators consolidate at a fast rate – it is easy to understand why. Indeed, given the volatility in the travel market many hotel owners would no longer take the risk of entering a relationship with a hotel operator without the ongoing support of a hotel asset manager. Employed by the asset owner, the role of a hotel asset manager is to ensure a property reaches its full potential so that it can create increased returns in the long term or be sold ...
Akara Partners Completes Home2 Suites by Hilton Chicago River North
Akara Partners | March 12, 2019
(CHICAGO, IL) —Akara Partners, a real estate direct-investment, development, and operations firm based in Chicago, announces the completion of Home2 Suites by Hilton Chicago River North, a 17-story extended stay hotel located at 110 West Huron. A Grand Opening celebration will take place March 19. "Rapid business and residential growth in River North created a need for extended stay and suite hotels," said Rajen Shastri, Founder and CEO of Akara. "We found a great partner in Home2 Suites by Hilton, which gets high ratings for service quality in all its locations." Home2 Suites by Hilton Chicago River North includes 206 suites feat...
Midas Hospitality Opens Newly-Built 107-Room Home2 Suites by Hilton in Brooklyn Park, MN
Midas Hospitality | March 12, 2019
(St. Louis, Mo., March 12, 2019) Six months ago Midas Hospitality opened the very first new hotel built in Brooklyn Park since 1998. Now the company is ready to introduce its second. Midas Hospitality – a leading hotel development, management and investment firm – recently opened a 107-room Home2 Suites by Hilton. Located at 9490 W. Broadway, the nearly 58,000-square-foot hotel is part of a $28 million development that includes a 100-room Hampton Inn that opened in Sept. of 2018. Trevor Armstrong is the General Manager for both properties. Home2 Suites is an all-suite hotel with fully-equipped kitchens designed for extended ...
The Rise of AI in the Construction Industry
Matt Man | March 12, 2019
Matt Man Today, it seems as though everything is under construction. It is almost rare to walk outside without seeing a sleek looking building or a bridge being built. Although these projects are being constructed to meet the newest and latest criteria and aesthetics, the crews building them are not necessarily taking advantage of the latest available technology. The fact is, companies are losing millions of dollars in productivity due to the fact that most tools used on a job site are outdated. It is time for the construction industry to make some updates of its own. Not a moment too soon, Artificial Intelligence (AI) is emerging on j...
Glenmont Acquires Radisson Hotel Cleveland-Gateway to Be Rebranded as Hotel Indigo Following Comprehensive $7 Million Renovation
Glenmont Capital Management | March 12, 2019
NEW YORK -- Glenmont Capital Management, LLC, founded in 2000 by Lawrence A. Kestin, a New York-based real estate private equity fund manager announced the off-market acquisition of the Radisson Hotel Cleveland-Gateway. The 143 key hotel features a business center, fitness center, approximately 3,500SF of meeting space and the Gateway Bar and Grill. The hotel, located at 651 Huron Road, benefits from an A+ location, ideally situated among the Cleveland CBD's 14.9 million square feet and is the closest accommodation to both Quicken Loans Arena and Progressive Field. The Hotel will initially operate under the Intercontinental Hotel Group ...
Hospitality Technology Leaders Recognized for 2018 Achievements
IDeaS | March 12, 2019
IDeaS Global Partner Ecosystem Awards given to key contributors for excellence in innovation, leadership and focus Tweet This: @IDeaS_RevOpt announces 2018 Global Partner Ecosystem Award recipients at 2019 ITB Berlin partner celebration www.ideas.com/news MINNEAPOLIS—March 12, 2019—IDeaS Revenue Solutions and its global ecosystem of partners strive to deliver better revenue management solutions to hotels all over the world. During ITB Berlin on March 7, 2019, partner representatives were recognized and awarded by their IDeaS peers for their exemplary levels in four categories: Innovation, Client Focus, Results Focus and Hig...
Hospitality Financial Leadership: The Next Big Thing
David Lund | March 11, 2019
David Lund For almost 10 years our industry has been a rocket ship of top line growth driven almost exclusively by big gains in RevPAR driven by solid increases in occupancy and rate. You also can't go too far inside the online world without finding articles that speak to when and if this growth will stop. We all know it will and it's never been a question of if it will stop, the question is when it will stop. Knowing this growth inevitably will stop and being cognizant that when it does stop it will go backwards, what can you do? History always repeats itself. When the growth stops and revenues year over year shrink what will hotels do...
Country Inn & Suites by Radisson Opens a Refreshed Hotel in New Orleans, Louisiana
March 11, 2019
Minneapolis (March 11, 2019) - Country Inn & Suites® by Radisson, a leading upper midscale hotel brand, today announced the opening of Country Inn & Suites by Radisson, New Orleans I-10 East, LA located at 5801 Read Blvd. The hotel features an updated exterior, refreshed guest rooms and a newly-designed lobby. The hotel is conveniently located near Interstate 10, making it the perfect resting stop for guests visiting downtown hotspots such as the French Quarter or Bourbon Street. Additionally, visitors of all ages and interests will be sure to enjoy the hotel's nearby attractions, including the Mercedes-Benz Superdome, Audub...
Owned and Managed by Baywood Hotels, Residence Inn by Marriott Opens in Lubbock, Texas
Residence Inn by Marriott | March 8, 2019
Lubbock, TX – March 12, 2019 –The 104-suite Residence Inn by Marriott in Lubbock, Texas is set to open today with its upscale, stylish décor that offers flexibility, while creating a unique environment. Located at 6415 62nd Street, the all-suite Residence Inn Lubbock Southwest will operate as a Marriott franchise, owned and managed by Baywood Hotels Inc. of Columbia, MD. Located 14 miles from Lubbock Preston Smith International Airport and 12 minutes from downtown the Residence Inn Lubbock Southwest offers its guests convenient access to Texas Tech University, Llano Winery, Texas Christian University and AT&T Stad...
Hotel Owners Have All the Juice
Alan Young | March 7, 2019
by Alan Young Who really has the buying power when it comes to hotel technology purchases? As any good salesperson knows, selling a product (or service) is as much about describing the features and benefits of product itself, as it is being able to effectively sell to the potential buyer. It's a dance, one in which an in-depth understanding of the buyer's unique expectations and values will (more often than not) be the key to making that sale. And of course, the key to appealing to buyers directly begins with understanding who holds the buying power. When it comes to the hospitality industry and the purchase of hotel technology,...
Global Construction Pipeline Hits Record High at 2018 Year-End
Lodging Econometrics (LE) | March 6, 2019
Lodging Econometrics (LE) has released its year-end Global Construction Pipeline Trend Report, which compiles the construction pipeline counts for every country and market around the world. At the close of 2018, LE analysts state that the total global construction pipeline hit record highs with 13,573 projects/2,265,792 rooms, a 7% increase in projects and a 6% increase in rooms year-over-year (YOY). The global pipeline has been ascending for eight consecutive years after reaching its cyclical low in 2010. All regional pipelines, with the exception of South America, continued their upward trend YOY. It is notable considering economic gr...
Standard Hotels and Bunkhouse Group Share Global Growth Pipeline of Fifteen New Hotel Projects
Standard International | March 5, 2019
NEW YORK -- Standard International, parent company of Standard Hotels and the Bunkhouse Group, today announced its global growth pipeline of fifteen new projects including its first European property, The Standard, London opening this Spring in Kings Cross. Less than 18 months after a $58 million-dollar capital infusion from Bangkok based real estate development firm Sansiri PCL, the company has solidified twelve new Standard hotels in London, Paris, Milan, Lisbon, Mexico City, Chicago, the Maldives, Bangkok, Phuket, Jakarta, Hua Hin and Pattaya as well as three new Bunkhouse hotels in Austin, New Orleans and Atlanta. These projects inc...
UBM Development AG and IHG Sign Agreement for First voco™ Hotel in the Netherlands
March 5, 2019
The InterContinental Hotels Group (IHG®), one of the world's leading hotel companies, and UBM Development AG, today announced the signing of the first voco™ hotel in the Netherlands which is planned to open in 2020. This signing is the first publicly announced signing in Continental Europe underscoring the strong momentum of the voco brand in the region since its launch in June 2018. voco - Kneuterdijk 8 will be set in a beautiful building located in the city centre of The Hague that formerly housed a bank. The hotel will be in close proximity to the town's famous sights, several museums, parks and the shopping mile. Launched ...
Hesperia Hotels & Resorts to Introduce the Hyatt Regency Brand to Spain with Two Rebranded Properties
Hyatt Regency | March 4, 2019
CHICAGO (March 4, 2019) – Hyatt Hotels Corporation (NYSE: H) has announced today that a Hyatt affiliate has entered into franchise agreements with an affiliate of Hesperia Hotels & Resorts to open Hyatt Regency Hesperia Madrid and Hyatt Regency Barcelona Fira. The hotels mark the entry of the Hyatt Regency brand into Spain and signify Hyatt's continued growth in the country. Both hotels will undergo significant renovations and will be available on Hyatt's booking system as Hyatt affiliated hotels beginning June 2019. The properties, Hesperia Madrid Hotel and Hesperia Barcelona Tower, are scheduled to be fully rebranded by Q4 2...
Union Investment and IHG to Invest 60 Million Euro to Modernize InterContinental® Berlin
IHG | March 4, 2019
IHG® (InterContinental Hotels Group) and Union Investment have announced plans to modernise InterContinental Berlin, which is owned by Union Investment and operated by IHG. The announcement coincides with the International Hotel Investment Forum (IHIF) in Berlin, Europe's most important hotel investment conference. The upgrade of the 558 luxurious guest rooms and the beautifully designed public areas of the hotel will cost around EUR 60 million. The hotel will remain open during the works, which will be managed to ensure a continued high level of hospitality and uninterrupted guest services. The renovation will take place in several...
Hospitality Financial Leadership: Contra or Barter Exchanges – How to Record Them and Some Tips
David Lund | March 4, 2019
David Lund Contra, barter, trade outs, exchanges – they are all the same thing. Exchanging goods and or services is older than currency and it's still used today, especially in hospitality. How you can use this tool effectively and how to properly record these transactions on your books is the meat on the stick in this article. First thing you need to know that typically stops most people from pursuing trade out agreements is they do not have a direct positive impact on your profit and loss statement. The trade out itself if it's recorded properly will not reduce expenses. It only saves you cash. So, if cash flow is a conc...
Hotel Equities Tapped by APX Hotels to Manage Eight Hotel Portfolio in Alberta, Canada
Hotel Equities | March 4, 2019
Atlanta, GA – March 04, 2019 – Today, Atlanta-based hotel owner, operator and developer, Hotel Equities (HE), announced they have been selected as the strategic partner with APX Hotels to operate eight hotels in the Alberta region. The hotel portfolio, consisting of IHG, Hilton and Wyndham branded properties is owned by APX Hotel Group. The combined total guestroom count is 749 and growing, with future development projects in the pipeline. "We continue to expand our Canadian portfolio with owners whom we are aligned and who seek strong management of their assets," said Joe Reardon, chief development officer for HE. "We ...
Avison Young Hospitality Group Recent Closings
Avison Young | March 4, 2019
ATLANTA – March 4, 2019 – Avison Young Hospitality Group announced today the firm closed a two-property portfolio in San Francisco last Friday. The details of the two transactions are confidential in nature, but each transaction was accretive to both the buyer and the seller. The transactions were handled by Chelsea Wang, a hotel broker in the Avison Young San Francisco office. ...
HP Patel, President of Krish Hospitality, Opens First GLō by Best Western in Asheville, NC
March 1, 2019
Phoenix, Arizona (March 1, 2019) – Best Western Hotels & Resorts today announced the opening of its suburban boutique hotel brand, GLō, in Asheville, North Carolina. With a stylish, convenient and thoughtfully designed space, GLō's arrival in the thriving resort destination is a perfect reflection of today's Best Western. "We are excited to celebrate the arrival of our contemporary and inviting GLō brand in Asheville," said Ron Pohl, Senior Vice President and Chief Operations Officer for Best Western Hotels & Resorts. "Asheville is known for its vibrant arts scene and its historic architecture, and GLō fits perfectly, ...
Owned by Sunny Investment Properties LLC & Development, the Residence Inn Tulsa Midtown Opens
Residence Inn by Marriott | March 1, 2019
Tulsa, OK – March 1, 2019 – The 106-suite Residence Inn by Marriott in Tulsa, Oklahoma is set to open today with its upscale, stylish décor that offers flexibility, while creating a unique environment. Located at 4522 East Skelly Drive, the all-suite Residence Inn Tulsa Midtown will operate as a Marriott franchise, owned by Sunny Investment Properties LLC & Development and managed by Champion Hotels of Oklahoma City, Oklahoma. Located 10 miles from Tulsa International Airport and 14 minutes from downtown the Residence Inn Tulsa Midtown offers its guests convenient access to Gathering Place – a park for every...
European Pipeline Soars Despite Economic Slowdown Throughout the Region
Lodging Econometrics (LE) | March 1, 2019
In the 2018 year-end report by Lodging Econometrics (LE), Europe's total construction pipeline skyrocketed to 1,569 projects/243,947 rooms, a whopping 19% increase year-over-year (YOY), and the highest project and room counts ever recorded. The record counts come despite concerns of slower growth throughout the region, shrinking demand for the region's exports, Brexit uncertainties, and political tensions in many countries. There are 784 projects/124,674 rooms currently under construction, 434 projects/68,128 rooms planning to start construction in the next 12 months, and 351 projects/51,145 rooms in the early planning stage. The total ...
Steigenberger Hotels AG Extends Lease With Union Investment for Germany’s Steigenberger Hotel Hamburg
Steigenberger Hotels and Resorts | February 28, 2019
Frankfurt, 28 February 2019 Never change a winning team: Union Investment, the owner of the property, and Steigenberger Hotels AG have extended the lease for the hotel on Hamburg's Fleetinsel for another 25 years. The two parties have also agreed to carry out a comprehensive refurbishment of the hotel, which was built in 1992. Beginning with the underground garage and followed by the 8th floor, the hotel will be gradually updated, remaining open during refurbishment. The works are scheduled to start in spring 2019. Union Investment is investing around EUR 50 million in the upgrading programme. "Our guests are accustomed to first-class s...
