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
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Finance & Development
Nobu Hotel Palo Alto Undergoing Multimillion-Dollar Phased Transformation and Rebranding
February 21, 2019
PALO ALTO, Calif. (Feb. 21, 2019) – Nobu Hotel Palo Alto is currently undergoing a multimillion-dollar phased renovation, set to debut as an official Nobu Hotel and restaurant in early 2020. Unveiling a completely brand-new hotel following the transformation, it's set to be Silicon Valley's most anticipated hotel opening. The 73-room boutique property is elevating its façade, reception and arrival experience, wellness offerings, meeting venues and amenities, guest rooms and adding a two-story signature restaurant to reflect the world-renowned standards of Nobu Hospitality with the addition of a 24-hour in-room Nobu dining m...
Choice Hotels Partners With NIAM Investments to Develop 119-Room Cambria Hotel in Spartanburg, S.C.
Cambria Hotels | February 20, 2019
ROCKVILLE, Md., Feb. 20, 2019 -- Choice Hotels International, Inc. (NYSE: CHH) has signed an agreement with NIAM Investments to develop a six-story, 119-room Cambria Hotel in Spartanburg, S.C. The upscale hotel is slated to open in summer 2020. Located at 167 N. Church St., the new Cambria Hotel will be in the heart of downtown Spartanburg, near several corporate headquarters, including Denny's, Milliken & Company, and JM Smith Corporation, as well as the world's largest BMW manufacturing facility. The hotel is a short distance from local attractions like the Chapman Cultural Center, Spartanburg Art Museum, Ballet Spartanbur...
Hilton Signs With Parks Hospitality to Develop Two Hotels in Cancún and Monterrey
Hilton Hotels & Resorts | February 20, 2019
CANCÚN and MONTERREY, Mexico and MCLEAN, Va. - Hilton (NYSE: HLT) today announces the signings of the first Canopy by Hilton in Mexico with Canopy by Hilton Cancún La Isla, and the first Hilton Hotels & Resorts property in Monterrey with Hilton Monterrey Valle Oriente. Developed by PARKS HOSPITALITY and managed by Hilton, the properties are set to open in late 2019 and late 2021, respectively. Located in two of the market's most high-end neighborhoods, the properties will add approximately 375 rooms to the global hospitality company's portfolio of more than 60 hotels and more than 10,000 guestrooms in Mexico. "With Mex...
Choice Hotels Signs With ServiceStar Hospitality to Develop 14 New WoodSpring Suites Hotels
February 19, 2019
ROCKVILLE, Md., Feb. 19, 2019 -- Choice Hotels International, Inc. (NYSE: CHH) awarded an agreement to ServiceStar Hospitality to develop 14 new WoodSpring Suites hotels throughout Colorado, Arizona, and Nevada. "The WoodSpring Suites brand continues to draw strong interest from developers across the country, furthering its position as a leader both in extended stay and the economy segment overall," said Ron Burgett, vice president, extended stay hotels development, Choice Hotels. "This transaction builds on WoodSpring's record-setting 2018 growth and will accelerate the brand's presence across the western United ...
Radisson Hotel Group Enters Bursa With Signing of Turkey’s First Radisson Branded Hotel
February 19, 2019
Brussels/Bursa - February 19, 2019 - Radisson Hospitality AB, publicly listed on Nasdaq Stockholm, Sweden and part of the Radisson Hotel Group, is proud to announce the signing of the first Radisson branded hotel in Bursa, Turkey. The agreement with the Turkey-based real estate and construction company IHY Gayrimenkul İnşaat Sanayi ve Ticaret A.Ş. increases the Radisson Hotel Group's portfolio in Turkey to 25 hotels and more than 4,600 rooms in operation and under development. The hotel is scheduled to open its doors in Q4 2020. Elie Younes, Executive Vice President & Chief Development Officer, Radisson Hotel Group, said: "We're ...
MJH Bringing New Look, New Technology to Fairfield Inn by Marriott Charlotte Northlake
Meyer Jabara Hotels | February 19, 2019
Meyer Jabara Hotels refreshes this North Carolina property's exterior and invests in new technologies including Marriott's Guest Room Entertainment solution, high-speed guest Internet, virtual concierge, PBX, guestroom phones and mobile-key enabled RFID door locks [Danbury, Conn., Feb. 19, 2019] — Today the Fairfield Inn by Marriott is competing head-on with hotels in the Charlotte/Northlake area now that its owner, Meyer Jabara Hotels (MJH), has refreshed the property's exterior and installed new technologies. Reaction to the renovation has been exceedingly positive, with guests and local patrons praising the hotel's new look fea...
Meliá Hotels Unveils New INNSiDE Charles de Gaulle Located at Paris’ International Airport
February 19, 2019
London, 19 February 2019 - Meliá Hotels International, Spain's largest hotel brand, unveils the new INNSiDE Charles de Gaulle located at Paris' international airport. Opening in February 2019, the 266 room and 10 loft hotel will perfectly embody INNSiDE by Meliá's refreshed identity, providing a design-led urban hotel for travellers looking to combine work and pleasure. Consumers are looking for flexibility and freedom when they travel, and ultimately hotel brands that fit seamlessly with their lifestyle. Relaunching this year, INNSiDE by Meliá is adapting its business strategy to captivate the younger generation of...
Virgin Hotels With Paradigm Hotels Group Opens Virgin Hotels San Francisco
Virgin Hotels | February 19, 2019
MIAMI and SAN FRANCISCO, Feb. 19, 2019 -- Virgin Hotels, the lifestyle hotel brand by Virgin Group founder Sir Richard Branson, announces today the official opening of its highly anticipated second property, Virgin Hotels San Francisco. The hotel, located at 250 Fourth Street, is situated South of Market (SoMa) just steps from Yerba Buena Gardens and the Moscone Center, and features 192 Chambers and two Penthouse Suites; multiple dining and drinking outlets, including the brand's flagship space, Commons Club and Funny Library Coffee Shop; numerous meeting spaces; and the city's newest rooftop bar, Everdene. The hotel is also in ...
New 193-Room Radisson Blu Opens in Vadistanbul, Turkey Led by General Manager Atakan Altug
February 18, 2019
Brussels/Istanbul - February 18, 2019 - Radisson Hospitality AB, publicly listed on Nasdaq Stockholm, Sweden and part of Radisson Hotel Group, is proud to announce the opening of the Radisson Blu Hotel, Vadistanbul in the heart of Istanbul. The hotel offers the perfect combination of business and leisure facilities, and is located in one of Istanbul'smost prestigious emerging residential and commercial areas. Michel Stalport, Area Senior Vice President Eastern Europe, Russia and Turkey, said: "With this stunning property, we further strengthen our position as the leading international hotel group in Turkey. We're immensely proud to add ...
Hospitality Financial Leadership: Roger Penske & The Hotel PMS
David Lund | February 18, 2019
By David Lund I had a chance meeting with Roger Penske in the parking lot behind the paddock in October 1994 at the Indy Car Grand Prix of Monterey in Laguna Seca, California. It was the end of qualifying on Saturday and his pilot and fellow Canadian, Paul Tracy had just won the pole position. For you hoteliers who are not motorsports fans, pole means he was the quickest in qualifying and that means he starts in the first position on Sunday. This is a story about hospitality financial leadership in the face of a challenge and adversity. Before I get into the hotel story and the connection to Roger, a bit more about him and the race. The...
Jackson-Shaw Begins Construction on 252-Room AC Hotel by Marriott in Fort Worth, Texas
Jackson-Shaw | February 15, 2019
FORT WORTH (Feb. 15, 2019) – Jackson-Shaw, a national real estate development company headquartered in North Texas, today commenced construction on the 252-room, 16-story AC Hotel Fort Worth in downtown Fort Worth. When the property opens in the fall of 2020, it will be the first AC Hotel by Marriott to debut in Tarrant County, Texas, offering travelers both a thoughtful approach to design and intuitive, elevated guest service. The hotel is rising on the southwest corner of Fifth and Main Street, adjacent to the historical art deco Kress Building, and only minutes away from wonderful restaurants, entertainment, shopping and night ...
Pebblebrook Hotel Trust Completes Sale of the Liaison Capitol Hill
Pebblebrook Hotel Trust | February 15, 2019
BETHESDA, Md.--February 15, 2019--Pebblebrook Hotel Trust (NYSE: PEB) (the "Company") today announced that it has closed on the sale of the 343-room, Liaison Capitol Hill in Washington, D.C. for $111.0 million. The sale price of $111.0 million reflects a 16.9x EBITDA multiple and a 4.9% net operating income capitalization rate (after an assumed annual capital reserve of 4.0% of total hotel revenues) based on the trailing twelve-month operating performance for the period ended December 31, 2018. Proceeds from the sale of the Liaison Capitol Hill will be utilized for general business purposes which may include reducing the Company's outst...
The Art and Science of Hotel Brand Valuation
Hotelivate | February 15, 2019
Businesses are frequently valued using one or more established approaches across industries and sectors. Their replacement cost, income generation ability and/or comparable sales of similar businesses usually form the basis of such valuations. However, in most cases, a business value using the approaches mentioned herein is largely determined for tangible assets, as they have been regarded as the main source of value creation. In recent times, several companies have increasingly and justifiably so, embraced the idea that a business's value is not made up of its tangible assets alone. The importance of not just the brand, but also patent...
Midas Hospitality Opens 119-Room Residence Inn Charlotte Steel Creek in North Carolina
Midas Hospitality | February 14, 2019
St. Louis, Mo., Feb. 14, 2019 - Midas Hospitality – a leading hotel development, management and investment firm – recently opened its third Marriott property in Charlotte, NC. Located at 5110 Trojan Dr., the 119-room Residence Inn by Marriott is a four-story, 82,000-square-foot hotel. The Residence Inn Charlotte Steele Creek has studio, one-bedroom and two-bedroom suites. The hotel features an outdoor swimming pool, patio with barbecue grill, fitness center, meeting room, and business library. Located in the Steele Creek Business Park next to the Charlotte Premium Outlets, the hotel is conveniently located seven miles from C...
Omni Shoreham Hotel Completes $12 Million Guest Room Renovation Led by General Manager Mark Roche-Garland
Omni Shoreham Hotel | February 14, 2019
WASHINGTON, D.C. (February 14, 2019) – Omni Shoreham Hotel is welcoming guests to its 834 newly renovated rooms after undergoing a more than $12 million renovation that elevates the overall experience and enhances the hotel's 90-year history. The renovation includes a design and décor update highlighting the hotel's unique location within Washington, D.C. and its picturesque garden views. Embracing D.C.'s culture and rich history, the design of the refreshed guest rooms was inspired by the deco-era of the 1930s Shoreham Hotel, coupled with only-in-Washington visuals such as photography of landmark locations and the hotel's ...
Renaissance Hotels With Spire Hospitality Complete Multi-Million Dollar Renovation of Renaissance Minneapolis Bloomington Hotel
Spire Hospitality | February 14, 2019
Bloomington, MINN. (Feb. 13, 2019) – Renaissance Hotels with Spire Hospitality, one of the nation's leading and most respected hotel management companies, today announced the newly-renovated Renaissance Minneapolis Bloomington Hotel. "This hotel has long served as a key hub for business travelers to the Minneapolis area," says Patrick Bissen, General Manager, Renaissance Minneapolis Bloomington Hotel. "The Renaissance brand promises to deliver our guests an unmatched experience, immersing them in an authentic Twin Cities experience, while providing a respite for their visit to the destination." Transforming the property with a mul...
3 Distinctive Hotel Openings Highlight the Growth of The Olympia Companies
The Olympia Companies | February 14, 2019
February 14, 2019. Portland, ME. The Olympia Companies has just come off a year of remarkable growth and development with the completion of three extraordinary new hotels: SOPHY Hyde Park in Chicago, IL; The Glen House in New Hampshire's White Mountains; and Hyatt Place & Hyatt House Quad Cities in East Moline, IL. Olympia, a leader in high-profile real estate development, equity investment and hospitality management projects, took an individualized approach to each of these three very different hotel projects, situated in radically different locations: a revived historic neighborhood in America's 3rd largest city; a riverfront Midw...
Big Hotel Brands Set Their Sights on Portugal’s Cities
JLL Real Views | February 14, 2019
By Natasha Stokes With Lisbon and Porto fast building a global reputation as top city break destinations, international hotel groups are flocking to these booming tourism markets. Boutique hotels account for many of the new developments in Portugal, converted from historic buildings by new entrants to the market. Hilton Group's Curio Collection will debut its first property in Portugal, the Emerald House, in Lisbon. The multi-million-euro renovation will be a 67-room complex with fitness centre, restaurant and bar for guests as well as locals. Hotel operators with a presence in the country are also expanding their footprint – the ...
Enterprise Rancheria and the Seminole Tribe Celebrate Topping Off of Hard Rock Hotel & Casino Sacramento at Fire Mountain
Enterprise Rancheria | February 14, 2019
HOLLYWOOD, Fla. – (Feb. 14, 2019) – Hard Rock Hotel & Casino Sacramento at Fire Mountain held a topping off ceremony on Feb. 13, 2019, to celebrate reaching this major construction milestone in the project. The highly-anticipated property is slated to be the premier entertainment destination in Northern California once it opens in fall of 2019. "I want to thank everyone involved in this momentous development," said Mark Birtha, president of Hard Rock Hotel & Casino Sacramento at Fire Mountain. "It is such an incredible feeling of pride and excitement seeing it coming to life. I know this property is going to be a lan...
Radisson Hotel Group Signs Master Development Agreement With SunnySeeker Hotels in Cyprus
Radisson Hotel Group | February 13, 2019
Brussels/Cyprus, 13 February 2019 - Radisson Hotel Group, one of the largest and most dynamic hotel groups in the world, is delighted to announce the signing of a Master Development Agreement with SunnySeeker Hotels in the Republic of Cyprus. Building on an already-successful partnership, the new deal will see the group grow its existing portfolio in the country to six hotels and almost 1,000 rooms by 2025. SunnySeeker Hotels has been a partner for Radisson Hotel Group in Cyprus since 2015. This new agreement is a valuable opportunity for both companies to capitalize on each other's industry expertise, market position and global presenc...
IHG Acquires Six Senses Hotels Resorts Spas From Pegasus Capital Advisors for $300 Million
IHG | February 13, 2019
InterContinental Hotels Group (IHG®) has today announced the acquisition of Six Senses Hotels Resorts Spas, one of the world's leading operators of luxury hotels, resorts and spas. The $300 million cash acquisition from Pegasus Capital Advisors includes all of Six Senses' brands and operating companies and does not include any real estate assets. Six Senses currently manages 16 hotels and resorts, with 18 management contracts signed into its pipeline, and more than 50 further deals under active discussion. With properties in locations such as the Maldives, the Seychelles, Yao Noi in Thailand, Zighy Bay in Oman, and Portugal's Douro ...
Why Retail Owners Are Partnering With Hotels
Jim Butler | February 13, 2019
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 13 February 2019 - Recently, my partner, Guy Maisnik, and I spoke about hotel retail mixed-use development with Kelsi Maree Borland of GlobeSt.com. Her article, Why Retail Owners Are Partnering With Hotels ran with the subtitle, With retail evolving to be more experience-driven, retail owners are finding the benefits of adding boutique hotels to shopping centers. Retailers adding hotels to the mix is nothing new – but they may be more motivated than ever. The Hotel Law Blog has been covering hotel mixed-use projects — where th...
Sales and RM – Why Can’t We Be Friends?
Matt Curry | February 13, 2019
By Matt Curry According to the 2019 AMEX Global Meetings & Events Forecast,1 the meetings industry is in a period of consistent growth, with small but meaningful increases projected in meeting sizes, length, and number of attendees. And although trend data2 supports that room night share, guest-paid RevPAR, and group ADR have been relatively flat, the group/meetings customer segment remains a strong and steady source of hotel business. Business meetings, conventions, sports tournaments, educational gatherings, and others all provide lucrative opportunities for hotels. They are sources of repeat business, fill rooms during off-peak t...
Marriott Expands Across Africa With Hotel Signings in Morocco, Ghana and Liberia
Marriott International | February 12, 2019
MARRAKESH, Morocco, February 12, 2019 -- From the Forum de l'Investissement Hôtelier Africain in Marrakech, Marriott International (www.Marriott.com) announced three new deal signings across North and West Africa, reinforcing the company's commitment to expanding its presence across the continent. The new deal signings highlight the company's growth in Morocco and Ghana, while marking its debut in Liberia. Organised by Bench Events, Forum de l'Investissement Hôtelier Africain is a gathering that unites North and West African countries in a bid to develop their economies and support hospitality investment. The forum c...
