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
NorthPointe Hospitality Management Opens New Crowne Plaza in North August, South Carolina
Brasfield & Gorrie | February 28, 2019
ATLANTA (February 28, 2019) -- NorthPointe Hospitality Management announces the opening of the new Crowne Plaza® North Augusta, located in the $200-million Riverside Village development, along the banks of the Savannah River. The new 30-acre mixed-use development combines a beautifully crafted pedestrian-friendly neighborhood with single family homes, condominiums and apartments; a vibrant town and event center; restaurants; brewery; outdoor center; and the new SRP Park, home of the Green Jackets Minor League Baseball Team. The five-story upscale hotel features Crowne Plaza's newly-patented WorkLife Room design; 180 guestrooms and s...
Avison Young Hospitality Group Recent Closings
Avison Young | February 28, 2019
ATLANTA – February 28, 2019 – Avison Young Hospitality Group announced today the closing of six transactions since the first of the year. The properties include two full-service Marriott hotels, a SpringHill Suites in Bossier City, LA, a historic hotel located on the Rhode Island coast and two mid-market hotels in suburban locations. The firm has four transactions closing within the next 14 days representing two properties in San Francisco, a Hilton property near DC and a resort property in the Northeast US. Additionally, the firm has 35 other transactions under sale agreement closing over the next several months. Since 2013...
Hilton Honors 13 Team Members With the 2018 CEO Light & Warmth Awards
Hilton | February 28, 2019
MCLEAN, Va. - Hilton has announced the thirteen winners of this year's CEO Light & Warmth Award. Launched in 2011, the award is the highest honor within Hilton and an opportunity for the company to recognize and celebrate exceptional Team Members and franchisee employees who embody the Hilton vision and mission, as well as its values of Hospitality, Integrity, Leadership, Teamwork, Ownership and Now. In 2018, nearly 700 Team Members from across Hilton's global managed and franchise network were nominated by their colleagues for demonstrating the Hilton values at work and beyond. Finalists were selected by a committee of representati...
Avison Young Hospitality Group Recent Closing
Avison Young Hospitality Group | February 28, 2019
ATLANTA – February 28, 2019 – Avison Young Hospitality Group in association with Metropolis Property Group announced today the closing of the 170-room Residence Inn on Long Island for $20,500,000. Thierry Roch of Avison Young and James Ashley (A.J.) Johnson with Metropolis Property Group handled the sale. ...
IDeaS Revenue Solutions Reports Unprecedented Momentum in EMEA Markets
IDeaS | February 28, 2019
Following a year of significant regional wins, IDeaS projects exponential growth to continue in 2019 Tweet This: @IDeaS_RevOpt has taken Europe by storm as the preferred provider of automated revenue-optimization technology for hotels and car parks. www.ideas.com/news #RevenueScience LONDON—Feb. 28, 2019—IDeaS Revenue Solutions, the world's leading provider of automated revenue management software and services, reported record-breaking client wins across the EMEA region in 2018. With additional new hotel and car park clients in the pipeline, IDeaS expects 2019 to be another significant year, further bolstering IDeaS' indust...
Interviews With Leaders - Mr. Neil George, Strategic Advisor, Rosewood Hotel Group
HVS | February 27, 2019
1. How would you describe Rosewood Hotel Group's development and growth strategy in the Middle East and Africa? We have a measured and considered approach to our global growth strategy. We have four brands – Rosewood Hotels & Resorts in the ultra-luxury segment, New World in the upper-upscale space, Penta in the upper-midscale lifestyle space, our latest brand KHOS targeting the luxury business-lifestyle space. In this region, we are primarily focused on growing the Rosewood brand, but open to gradual development of New World and Penta, and will soon be launching KHOS too. For Rosewood, as an ultra-luxury brand with 24 propert...
With North Point Hospitality, Marriott Opens First Triple-Brand Hotel Combining AC Hotels, Residence Inn and SpringHill Suites in Downtown Nashvil
North Point Hospitality | February 27, 2019
Marriott International today announced the opening of its first newly built property that combines three brands under one roof in vibrant Nashville, across from Music City Convention Center. Developed by North Point Hospitality, the 21-story, $140 million property features three Marriott brands – design-forward AC Hotels, extended stay Residence Inn and stylishly spacious SpringHill Suites – offering business and leisure travelers distinct experiences and amenities under one roof. "Music City is the perfect place for Marriott to make history with its first newly built, triple-brand property," says Eric Jacobs, Marriott Inter...
IHG Signs With Fortress Development for New InterContinental Hotels & Resorts Property in Bellevue, Washington
February 27, 2019
InterContinental Hotels Group (IHG®), one of the world's leading hotel companies, today announces the development of a new InterContinental® Hotels & Resorts property in Bellevue, Washington, located in the Seattle metropolitan area. Developed by Bellevue-based Fortress Development, the new-build hotel is expected to open in Q4 2021 and will be part of a luxury, two-tower mixed-use development known as Avenue Bellevue. Located at the epicenter of downtown Bellevue on the northwest corner of Bellevue Way and NE 8th Street, the InterContinental Bellevue at The Avenue hotel will feature 252 elegantly appointed guest rooms, ...
Santa Monica’s Oceana Beach Club Hotel to Debut in May 2019 as Oceana Following $25 Million Transformation
JRK Hotel Group | February 26, 2019
SANTA MONICA, Calif., Feb. 26, 2019 -- Already underway with a $25 million head-to-toe transformation, the current Oceana Beach Club Hotel today announces it will re-emerge as the all-new Oceana in May 2019. A secluded Santa Monica haven for world travelers, celebrities and titans of industry since opening across from the beach on fabled Ocean Avenue in 1996, the hotel will shake up the West Coast scene with an unrivaled plot twist on oceanside glamour, relaxed 5-star luxury and exclusive hotel guest access when it debuts as Oceana. The new Oceana will evoke a stunning beachside home-away-from-home and deliver a rare private residential...
Andaz Brand Debuts in Germany With Opening of Andaz Munich Schwabinger Tor
Hyatt Hotels Corporation | February 26, 2019
CHICAGO (February 26, 2019) – Hyatt Hotels Corporation (NYSE: H) announced today the official opening of Andaz Munich Schwabinger Tor, the first Andaz branded hotel in Germany. Joining Andaz hotels in top destinations around the world, including New York, London, Amsterdam and Abu Dhabi, Andaz Munich Schwabinger Tor is the third Andaz branded hotel in Europe. The luxury lifestyle brand celebrates local culture, fully immersing guests in destinations through distinctive experiences that appeal to each of their senses. True to the brand, the hotel offers guests an unscripted Bavarian-inspired experience, allowing guests to feel like...
Hilton Signs With NCB Group for New Curio Collection by Hilton in the Cayman Islands
NCB Group | February 26, 2019
GRAND CAYMAN, Cayman Islands and MCLEAN, Va. – February 26, 2019 – Hilton (NYSE: HLT) announces the signing of an agreement for a new Curio Collection by Hilton property in the Cayman Islands with NCB Group. Scheduled to open in 2021, the new-build 80-room hotel will usher in a new era of upper upscale accommodations focusing on sustainability and wellness, incorporating renewable and energy-efficient technologies throughout the property. "As tourist arrivals in the Caribbean continue to increase, we have prioritized the region in our larger expansion efforts with Hilton's first property in Grand Cayman," said Juan Corvinos,...
The Upside of Opportunity Zones for Hotel Developers and Hotel Owners
Nicole Ament | February 26, 2019
By Nicole Ament and Erik Jensen One of the products of the Tax Cuts and Jobs Act, Qualified Opportunity Zones could have a significant impact on real estate development in 2019, including the hotel industry. While developing in an opportunity zone will not turn a bad hotel deal into a good deal, it can generate an increased pool of interested investors. Hotel investors may not see the immediate potential of opportunity zones given that the census tracts designated as Qualified Opportunity Zones are technically low-income neighborhoods. However, a closer study of the Qualified Opportunity Zones map reveals that in many key markets the op...
Sonnenblick-Eichner Company Arranges $26,500,000 of First Mortgage Financing for The Inn at the Pier, Pismo Beach, California
Sonnenblick-Eichner Company | February 26, 2019
Beverly Hills, (February 26, 2019) – Sonnenblick-Eichner Company has arranged $26.5 million of interim first mortgage debt to refinance the Inn at the Pier, a new 104-room, full-service luxury boutique hotel located one-half block from the Pacific Ocean in the heart of Pismo Beach, California. The non-recourse interim loan was provided by a debt fund. The loan was priced in the mid-300s over 30-day LIBOR and provided for a return of equity to the Borrower. The Inn at the Pier, which opened in November of 2017, features a full-service restaurant, pool and spa, and the only roof-top bar in Pismo Beach. Other amenities include 1,200 ...
Hospitality Financial Leadership: She Said She Was Born Without the Financial Gene
David Lund | February 25, 2019
The following is a recap of a single coaching session which turned into a coaching relationship with a client. For this article I am going to call my client Jennifer. I was speaking at a local hotel association event and as usual a few people came to see me at the end to share their thoughts. Jennifer was the very last person to speak with me. She waited until the room was almost empty. She was shy and nervous. "I just want to thank you," she said. "Thank me for what," I replied. "Thank you for giving me some hope," she said. I smiled, as I knew exactly what she meant, and I said, "Hope for what?" She then explained how terrified she wa...
U.S. Lodging Outlook Good Through 2020, Economic “Blip” Causes Slowdown In 2021 Before Returning to Positive Growth for 2022
CBRE Group, Inc. | February 25, 2019
Atlanta – February 25, 2019 – A favorable economic outlook will lead to continued growth in U.S. hotel revenues and profits through 2020. However, an economic slowdown in 2021 will cause a short-lived softening of lodging industry fundamentals that year. According to the March 2019 edition of Hotel Horizons®, CBRE Hotels Americas Research is forecasting U.S. hotel rooms revenue per available room (RevPAR) to increase by 2.5 percent in 2019 and an additional 2.0 percent in 2020. However, for 2021, CBRE is projecting a slight decline in RevPAR of 0.6 percent. Fortunately for hoteliers, that immediately is followed by 1.4 p...
Pebblebrook Hotel Trust Completes Sale of Hotel Palomar Washington, DC for $141.5 Million
Pebblebrook Hotel Trust | February 25, 2019
BETHESDA, Md. -- Pebblebrook Hotel Trust (NYSE: PEB) (the "Company") today announced that it has closed on the sale of the 335-room, Hotel Palomar Washington, DC for $141.5 million. The sale closed on February 22, 2019. The sale price of $141.5 million reflects a 14.9x EBITDA multiple and a 5.9% net operating income capitalization rate (after an assumed annual capital reserve of 4.0% of total hotel revenues) based on the hotel's operating performance for 2018. When combined with the recently announced sale of The Liaison Capitol Hill, the aggregate sales proceeds of $252.5 million for these two sales reflect a 15.7x EBITDA multiple and ...
Choice Signs With Equinox Hospitality to Develop Five Sleep Inn and MainStay Suites Properties
February 25, 2019
ROCKVILLE, Md., Feb. 25, 2019 -- Choice Hotels International, Inc. (NYSE: CHH) has signed agreements with Equinox Hospitality to develop three dual-brand Sleep Inn and MainStay Suites properties and two stand-alone Sleep Inn hotels. These midscale hotels will be built in the Phoenix metropolitan area and across California, and the first hotel is set to open in 2021. "Choice offers hotel developers proven midscale brands that appeal to guests across the country," said Brian Quinn, vice president, head of development, new construction brands, Choice Hotels. "Strong demand for the Sleep Inn and MainStay Suites brands is clea...
Accor Expands in the Americas With Planned 2021 Opening of SO/ Los Cabos Hotel & Residences
SO/ | February 25, 2019
Toronto, February 22, 2019 – Accor announced the continued expansion of its luxury portfolio in the North and Central American region with the introduction of the vibrant and playful SO/ Hotels & Resorts luxury brand in Los Cabos, Mexico. Slated to open at the end of 2021, SO/ Los Cabos Hotel & Residences will be an exciting, fashionable and luxurious new beachfront hotel and residential address located on the renowned Baja California Peninsula on the Pacific Coast of Mexico. The first SO/ property in Mexico, and the second in the region, the avant-garde hotel & residences will boast stylish interiors and décor ...
Mitchell Hospitality Selects Hotel Equities to Operate Dual-Branded Four Points by Sheraton and Residence Inn by Marriott in British Columbia
Hotel Equities | February 25, 2019
Atlanta, GA – February 25, 2019 – Today, Atlanta-based hotel owner, operator and developer, Hotel Equities (HE), announced they have been selected as the management firm for the 258-room Four Points by Sheraton and Residence Inn by Marriott dual-branded hotel. The hotel site is located at in Langley, BC. Construction on the hotel, owned by Mitchell Hospitality, Inc., is anticipated to begin mid 2019 with plans to open in 2021. Dual-branded properties, while relatively new to the Canadian market, are becoming more attractive to developers who are reaping the benefits of the concept. "We are proud to partner with the owners on...
Hilton Launches New Brand, Signia Hilton, Focused on Meetings and Events
Signia Hilton | February 22, 2019
MCLEAN, Va. - Hilton (NYSE: HLT) today announced the launch of Signia Hilton, its dynamic, new meetings-and-events-focused brand. The portfolio of hotels is setting out to transform the industry for meeting professionals and sophisticated business travelers by infusing state-of-the-art technology and design into every aspect of the guest experience. The brand further reinforces Hilton's commitment to innovation that meets the evolving needs of today's travelers and will bring premium experiences to top urban and resort destinations around the world. "In our 100th year of hospitality, we are more focused than ever on providing exceptiona...
EJF Capital to Develop Marriott’s New “Moxy” Hotel in Uptown Oakland, CA Opportunity Zone in Partnership With Tidewater and Graves Hospitality
Tidewater Capital | February 21, 2019
ARLINGTON, Va. -- EJF Capital LLC ("EJF"), a global alternative asset management firm, announced today that it has joined Tidewater Capital and Graves Hospitality to develop Marriott International's new Moxy hotel in the Uptown neighborhood of Oakland, California. Uptown Oakland qualifies as an "Opportunity Zone" under the Tax Cuts and Jobs Act of 2017 ("TCJA") and offers investors attractive tax benefits to create economic growth. The planned Moxy hotel, which is slated to open in 2021, consists of 173 rooms and targets millennial travelers who are increasingly drawn to Oakland's energetic urban environment. EJF Co-Founder and Chief Op...
Dual-Branded Best Western Plus Executive Residency Austin Hotel Debuts In Austin, Texas
February 21, 2019
Austin, Texas (February 21, 2019) - Best Western® Hotels & Resorts announced today the debut of the Best Western Plus Executive Residency Austin, located at 2021 Cheddar Loop Road in Austin, Texas. The newly built dual-branded property features 39 Executive Residency by Best Western® guestrooms offering well-appointed kitchenettes for business and leisure travelers seeking an extended-stay option. The hotel also boasts 47 Best Western Plus® guestrooms, each complete with upscale sleeping and bath amenities, providing guests with the best in rest and relaxation. The hotel's common areas are thoughtfully designed with impr...
IHG Signs Management Agreement With Indroyal Hospitality for Crowne Plaza Amaravati
IHG | February 21, 2019
InterContinental Hotels Group (IHG), one of world's leading hotel companies has signed a Management Agreement with Indroyal Hospitality Services Pvt Ltd for Crowne Plaza® Amaravati. The 300 rooms hotel will be the first IHG hotel in the city and is expected to be operational by 2024. Amaravati, the soon to be capital of Andhra Pradesh is being rapidly developed as a world class city and is expected to attract high-value manufacturing and service industries, creating strong economic growth opportunities in the years to come. Connected to the major cities in India by land, rail and air through its neighbouring city of Vijaywada, Amara...
Wild Dunes Resort Undergoing Expansion With Addition of Luxury Boutique Hotel and Resort Amenities
Wild Dunes Resort, A Destination Hotel | February 21, 2019
ISLE OF PALMS, S.C. -- Construction is underway to expand Wild Dunes Resort, the acclaimed 1,600-acre oceanfront resort on South Carolina's Isle of Palms, with the development of a 153-room boutique hotel, new meeting and event space and an array of amenities. The architectural design of the resort additions will complement the existing AAA Four Diamond rated 93-room Boardwalk Inn and The Village at Wild Dunes guestrooms and suites to offer exceptional accommodations and a memorable resort experience, conveniently located just 30 minutes from historic downtown Charleston. "The new hotel and amenities at Wild Dunes builds on the attribut...
