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
Training, Maintaining & Elevating Top Hotel Revenue Management Talent
Paul Van Meerendonk | November 6, 2018
By Paul Van Meerendonk Remember that whiz kid in reservations? He had grown up with computers and seemed able to fly around the property management system with natural ease and skill. Sure, his job was just to answer calls and make reservations, but he had a knack for finding cool reports buried deep in the system. Not only that, but he had also somehow mastered Excel and was able to create dazzling charts that seemed to bring the numbers to life. We knew we had to nurture his raw talent, so we signed him up for some revenue management 101. He would become our savior, finally getting our pricing in shape and enhancing our top-line reven...
IHG Signs Agreement with Al Arabiya Real Estate Company for Staybridge Suites in Kuwait
IHG | November 6, 2018
IHG® (InterContinental Hotels Group), one of the world's leading hotel companies, has signed a management agreement with the Al Arabiya Real Estate Company, owned by the leading Kuwaiti conglomerate, The Bukhamseen Group to debut Staybridge Suites in Kuwait, with the development of Staybridge® Suites Kuwait Salmiya. The new hotel is due to open in January 2022 and will add to IHG's growing portfolio in the Middle East. Located in Salmiya, close to the commercial and upscale residential blocks beside the Persian Gulf coastline, the 120-keys Staybridge® Suites Kuwait Salmiya will offer long-stay guests a choice of one-bedroom ...
Knighthead Funding Originates $8.5 Million Loan to Complete Construction of Holiday Inn & Suites Near Savannah, GA
Knighthead Funding | November 6, 2018
Greenwich, CT (November 6, 2018) -- Knighthead Funding, LLC has funded an $8.5 million construction loan for the completion of a 104-room Holiday Inn & Suites in the Savannah submarket of Pooler, GA. The sponsor, a Georgia-based hotel development and management company whose portfolio currently includes flags such as Hilton, Marriott and Holiday Inn had funded the entire development with all equity prior to Knighthead's involvement. Due to liquidity constraints, the Sponsor needed a creative source of capital to get comfortable in funding a project that was approximately 50% completed. The Greenwich, CT-based lender was able to reco...
Hospitality Financial Leadership: Why OTA’s Are Uber Successful
David Lund | November 5, 2018
By David Lund Have you ever wondered why we all hear so much complaining and downright all-around annoyance being expressed from hotels about the on-line travel agents? You would naturally think that because there is so much protest being made that hotels would simply not use the service and opt for something else? Right? Well – not so fast as hotels are reportedly using OTA's more than ever. There are three key reasons why OTA's are so successful and, in turn, why hotels and customers all flock to use them. One. Hotels, brands and franchisers all benefit from using OTA's and they do so without making a single dollar of investment...
Investor Ben Mallah pays $20 million for Holiday Inn Westshore near Tampa International Airport
November 5, 2018
Nov. 05--TAMPA -- Largo real estate investor Ben Mallah likes to say that while the other kids were out playing football, he was inside playing Monopoly. That hasn't changed. Last week Mallah paid $20 million to buy the Holiday Inn Westshore, his second recent significant investment in Westshore and his third hotel near Tampa International Airport. "It's a great place to be," Mallah said Monday. TIA is growing, Westshore is attracting new business, and the Florida Department of Transportation paid $37 million for what it expects to become a transit hub. "There's a lot of activity." In the Holiday Inn deal...
JAM Hospitality Opens Four Points by Sheraton Greensboro Airport in North Carolina Following Conversion
Four Points | November 1, 2018
Marriott International, Inc.® today announced the opening of Four Points by Sheraton Greensboro Airport. Catering to the needs of today's everyday traveler, the hotel offers approachable design, stylish comfort and all the brand's popular extras including a 24-hour fitness center, heated pool, fast and free Wi-Fi throughout the hotel, and the Best Brews & BBQ™ program, detailed below. Asset managed by JAM Hospitality, Four Points by Sheraton Greensboro Airport, previously under the name Comfort Suites Greensboro Airport offers 112 spacious guest rooms, over 825 sq. ft. of meeting space, a 24-hour fitness center, business c...
Paramount Lodging Advisors Successfully Completes Another Texas Transaction with the Sale of the Courtyard by Marriott in Beaumont, TX
Paramount Lodging Advisors | October 31, 2018
Beaumont, TX - Paramount Lodging Advisors (PLA) has successfully executed the transaction of the Courtyard by Marriott in Beaumont, TX. Managing Director Kami Burnette and Managing Director Adam Montufar represented the seller in the sale. The 78-room upscale hotel is ideally located on Interstate 10 in Beaumont. This transaction represented the buyer's objective to capitalize on increasing revenues generated from the oil-driven market. Upon completion of the property improvement plan (PIP), the buyer should be well-positioned to penetrate the market. "The shale boom has generated a surge in Texas oil exports and its impact on employmen...
Marriott International and Eagle Hills Sign St. Regis Tamuda Bay Slated to Open Mid-2020
St. Regis Hotels & Resorts | October 31, 2018
MARYLAND, United States of America, October 31, 2018/ -- Marriott International (www.Marriott.com) and Eagle Hills today announced the signing of The St. Regis Tamuda Bay, marking the debut of the iconic luxury hospitality brand in Morocco. Located in the stylish epicenter of Tamuda Bay on the country's northwestern coast, the hotel is slated to open in mid 2020. The property will be part of La Bahia Blanca, a landmark lifestyle resort development being built by Eagle Hills, an Abu Dhabi-based private real estate investment and development company. The resort will exude Moroccan charm and pay tribute to the Andalusian cultural legacy th...
Ledrae Hotels Pty Ltd Signs With Hilton for Development of Hilton Parramatta in Australia
Hilton Hotels & Resorts | October 31, 2018
SYDNEY and MCLEAN, Va. - Hilton today announced the signing of Hilton Parramatta, which will add to Hilton Hotels & Resorts' portfolio of 101 world class properties in the Asia Pacific region. Under a management agreement with Ledrae Hotels Pty Ltd, Hilton will manage the new-build hotel, located in the heart of one of Sydney's fastest growing suburbs. Construction of the 245-room hotel will commence Q4 2018 and is due for completion by late 2020. "The signing of Hilton Parramatta is the latest example of Hilton's commitment to growing our portfolio within fast-emerging business and leisure markets," said Sean Wooden, vice president...
Amy McPherson, Marriott’s President and Managing Director of Europe, to Retire
Marriott International, Inc. | October 31, 2018
BETHESDA, Md., Oct. 31, 2018 -- Marriott International, Inc. (NASDAQ: MAR) announced today that Amy McPherson, President and Managing Director of Europe, which encompasses the United Kingdom, Ireland and Continental Europe, will retire from the position effective the end of March 2019. McPherson, who has been with the company for 32 years, is leaving to pursue two of her passions: nurturing a start-up business in the UK, of which she is a principal investor, and spending more time with her family in the United States. "It's hard to imagine life at Marriott without one of its most accomplished, home-grown leaders," said Arn...
IHG and IHG Owners Association Announce Renovation Donation Initiative
IHG | October 30, 2018
Industry-leading effort will help hotels manage removal of materials during renovations and make a positive difference in local communities IHG® (InterContinental Hotels Group) and the IHG Owners Association have launched the Renovation Donation Initiative, an industry-leading reuse program that is part of a shared commitment to operating responsibly. IHG-branded hotels undergoing renovation or property improvements in the U.S. and Canada will be able to donate furniture, fixtures and equipment to non-profit organizations, including United Way Worldwide and Good360. The Renovation Donation Initiative will reduce the amount of materi...
Hotel Equities Promotes Joe Reardon to Chief Development Officer
Hotel Equities | October 30, 2018
ATLANTA, GA – October 30, 2018 – Today, Atlanta-based Hotel Equities (HE) announced the promotion of Joe Reardon to Chief Development Officer. In his new role, Reardon will oversee all aspects of development for the hotel ownership, management and development firm. Reardon brings 25 years of industry experience and an unwavering commitment to the company's core values to his new position. In his previous role, Reardon served as SVP of Business Development & Marketing where he orchestrated the firm's impressive expansion. "Joe has been a tremendous asset to the organization," said Brad Rahinsky, President & CEO o...
Revinate Announces Partnership With Duetto
Duetto | October 30, 2018
Joint Solution Powers Dynamic Pre-Arrival Emails That Drive Upgrade Revenue San Francisco, Oct. 30, 2018 — Revinate, the software as a service (SaaS) company that helps hotels transform guest data into revenue, today announced a partnership with Duetto, hospitality's only Revenue Strategy Platform, to enhance the power of its guest marketing solution. Now, joint customers will be able to use Duetto's platform and its Open Pricing application GameChanger to dynamically price upsells and upgrades driven through Revinate Marketing. The real-time pricing solution will enable personalized offers to maximize conversion and revenue. "Due...
Fairmas boosts global presence through hotel data integration with OTA Insight
Fairmas GmbH | October 30, 2018
Leading hotel technology specialists partner to increase business intelligence benefits BERLIN, LONDON - Fairmas GmbH, the long-established hotel specialist for software solutions in the areas of financial planning, controlling, management reporting and benchmarking headquartered in Berlin, and OTA Insight, creator of the hospitality industry's leading cloud-based business intelligence (BI) solutions specialising in pricing and distribution strategy, announce their partnership to integrate their systems to increase the benefits for their mutual customers. The collaboration on data integration allows joint customers to view their own ho...
Hospitality Financial Leadership: Trading Places
David Lund | October 29, 2018
Circa 2009. Late September. I'm the regional controller for five hotels. Sitting at my desk minding my own business, doing my own work when the phone rings. It's an old friend, one-time assistant, and now the regional controller based at a hotel in another city. He explained the desire to move back to where I was but was not having much luck finding a job. His homesick wife really wanted their children educated at home. We chatted for a few moments and caught up on different topics. Then he said, "Hey, David, how about we trade jobs?" "Can we do that?" I asked. Then I thought, "Wow, it's 28 years after the high school summer I planned t...
Hilton Signs Agreements for Two New Properties in Japan
Hilton Hotels & Resorts | October 26, 2018
TOKYO, Japan and MCLEAN, Va. - Hilton (NYSE: HLT) today announced the signing of two agreements in Japan for Hilton Hiroshima and Hilton Nagasaki. These new deals form part of Hilton's development pipeline of four hotels in Japan, with plans to add more than 600 rooms in key markets throughout the country. "We are thrilled to announce two new properties in Japan. This announcement underlines our strong commitment to the Japan market," said Guy Phillips, senior vice president, Development, Asia & Australasia, Hilton. "Through strong partnerships with our owners, we are looking forward to contributing to the local economies of Hiroshi...
Three Ways Hoteliers Are Kicking Silos of Technology for Good (Finally)
Klaus Kohlmayr | October 26, 2018
By Klaus Kohlmayr Stop me if you've heard this before: In the age of OTAs and industry disruption, effectively managing a complex channel and distribution strategy is critical to a hotelier's bottom line. Yet archaic technology and a "this is how we've always done it" mindset are holding us back. Oh, you've heard it? Me too. For years, actually. So why are we still here? And more importantly, what are we doing to change? Because it feels like we're stuck in the same old rut. A few hoteliers seem to have figured it out. They've realized that an integrated distribution strategy, along with its intertwined relationship to sales, loyalty an...
Christopher Akoury Named General Manager of Embassy Suites by Hilton Parsippany
Embassy Suites by Hilton | October 26, 2018
PARSIPPANY, NJ. - Embassy Suites by Hilton Parsippany, owned by Park Hotels & Resorts and managed by Hilton Management Services, today appointed Christopher Akoury the hotel's new General Manager. Most recently, Akoury served as General Manager of Embassy Suites by Hilton Piscataway-Somerset and Director of Brand Relations at The Friendwell Group. Embassy Suites by Hilton is a global brand of upscale, all-suite hotels from Hilton (NYSE: HLT). In his new role, Akoury will be responsible for overseeing the day-to-day operations of the 274-suite hotel including guest services, hotel administration and marketing efforts. Akoury began hi...
Economically Speaking: Must All Good Things Come to an End?
DRB Development Solutions | October 26, 2018
By Donald R. Boyken, FRICS, FAACE, CCP Each year, The Hotel Lodging Conference invites leading economists to offer their predictions for the Hotel industry. This year, there was more belief in their predictions than in prior years. I say belief because judging by their presentations it was clear they included their political preference as part of their forecasting. The conclusion/question: How long could the good times roll? The pessimistic and optimistic outlooks agree – Something will happen to the economy in the next two years. However, the degree of impact was tainted by their political outlook. Readers of this article underst...
HFTP Purchases Rights to the Uniform System of Accounts for the Lodging Industry (USALI)
HFTP | October 26, 2018
Hospitality Financial and Technology Professionals (HFTP®) has purchased the copyright to the Uniform System of Accounts for the Lodging Industry (USALI), a resource the association has been connected to since its origins. Widely used internationally, the primary purpose of the USALI is to offer operating statements formatted to provide hotel owners, managers and other interested parties with operational information pertinent to the lodging industry. The USALI was first published in 1926 and is currently in its 11th edition. The copyright was previously owned by the Hotel Association of New York City. The resource is published by th...
Spirides Arranges $7.8 Million Hotel Construction Loan for New Holiday Inn Express in Rock Hill, SC
Spirides Hospitality Finance Company | October 26, 2018
TAMPA, FL—Spirides Hospitality Finance Company has successfully arranged, and its client has closed a $7.8 million construction and term first priority mortgage loan from a southeast U.S. headquartered bank to finance the development of a new Holiday Inn Express in Rock Hill, South Carolina. This soon to be built Holiday Inn Express will feature 92 guest rooms and suites in a 5-story building situated on 1.4 acres of land. It will be located at 680 Tinsley Way, just off of Interstate 77 at the Dave Lyle Boulevard exit, in the City of Rock Hill, York County, SC, which is part of the Charlotte, NC metropolitan area. The hotel will be locat...
Owned and Managed by Tharaldson Hospitality Management, Residence Inn by Marriott Set to Open in Sparks, Nevada
Residence Inn by Marriott | October 25, 2018
Sparks, NV – October 25, 2018 – The 104-suite Residence Inn by Marriott in Sparks, Nevada is scheduled to open this Friday, October 26, 2018. Located at 300 Legends Bay Drive, the all-suite Residence Inn Reno/Sparks will operate as a Marriott franchise, owned and managed by Tharaldson Hospitality Management of Decatur, Illinois. Located just steps from the Sparks Marina and 10 minutes from Reno-Tahoe International Airport, the Residence Inn Reno/Sparks offers its guests convenient access to downtown Reno, Wild Island Family Adventure Park and The Outlets at Legends. "We are pleased to introduce Residence Inn hotels in the Sp...
Heritage Hospitality Management Opens 98-Room Fairfield Inn & Suites by Marriott in Staunton, Virginia
Fairfield Inn & Suites | October 25, 2018
Staunton, VA – October 25, 2018 – The 98-room Fairfield Inn & Suites by Marriott in Staunton, Virginia opens with its smart, inventive public space and guest room design, and its bright and inviting décor. Located at 114 Crossing Way, the Fairfield Inn & Suites Staunton will operate as a Marriott franchise, managed by Heritage Hospitality Management. Whether traveling for business or pleasure, the Fairfield Inn & Suites Staunton offers guests convenient access to the Blue Ridge Parkway, the Frontier Culture Museum of Virginia, Mary Baldwin College and historic downtown Staunton. "Delivering both function a...
What Hotel Owners Need to Know About Using Out-of-State Contractors for Renovations
Cicero's Development Corporation | October 25, 2018
PLAINFIELD, IL, OCTOBER 25, 2018 -- A quality renovation is essential to the success of any hotel. Despite this, many hotel owners think that 'reno' is a four-letter word. This is a mistake that comes with serious consequences, especially when it comes to selecting a general contractor. More concerned about cutting costs than a positive outcome, a hotel owner may select a less qualified, inexperienced local contractor rather than an out-of-state "GC" with extensive expertise in hotel renovations and PIP requirements. Local knowledge is a bonus with access to labor and the municipal approval process. On the other side of ...
