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
HFTP Announces Exclusive CIO/CFO Event Sponsorship Agreement With Fourteen IP at HITEC Amsterdam
HFTP | March 27, 2018
AUSTIN, TEXAS, USA -- Hospitality Financial and Technology Professionals (HFTP®), an international nonprofit and producers of the Hospitality Industry Technology Exposition and Conference (HITEC®), is pleased to announce its exclusive CIO/CFO event sponsorship agreement with Fourteen IP Communications Ltd at the upcoming HITEC Amsterdam 2018. The invitation-only event that brings together CIOs and CFOs from leading hotel and hospitality companies from across Europe will take place on 11 April to kick-off HITEC Amsterdam, which is taking place from 11-13 April at the RAI Amsterdam Convention Centre. The CIO/CFO pre-conference eve...
Hilton Signs With Wessal Capital for 150-Room Hotel Set for 2022 Opening in the Moroccan Capital City of Rabat
Hilton | March 27, 2018
DUBAI, United Arab Emirates, March 27, 2018/ -- Hilton (NYSE:HLT) (http://HiltonWorldwide.com) will once again be welcoming guests to the Moroccan capital city of Rabat from 2022 after a landmark deal was signed with Wessal Capital. At a ceremony in Dubai, a management agreement for a 150 room Hilton Rabat to form part of the city's Wessal Bouregreg project was confirmed. The Wessal Bouregreg master development contains a range of high-end residential, entertainment and cultural attractions on the banks of the river Bouregreg. Guests at Hilton Rabat will enjoy close proximity to a range of new state of the art facilities including a sho...
Spring Hotel Outlook Shows Stability and Consistency in North American Markets
TravelClick | March 27, 2018
Strong Transient Booking Growth is Welcomed News for Hoteliers in Q1 NEW YORK – March 27, 2018 – TravelClick, a leading global provider of data and revenue-generating solutions for hoteliers, today released new data from the Company's March 2018 North American Hospitality Review (NAHR). According to this data, North American hoteliers are continuing to see growth across all travel segments, up 0.7 percent in average daily rates (ADR) and 1.7 percent in bookings during the first quarter of 2018. This marks an ongoing positive trend from the beginning of the year. Transient travel in particular is experiencing solid growth in ...
The Rainmaker Group Kicks Off 2018 With Record-Setting Performance
Rainmaker | March 27, 2018
Company experiences astounding sales increase of 187 percent year-over-year ALPHARETTA, GA – March 27, 2018 – The Rainmaker Group (Rainmaker), a leading provider of cloud-based hospitality revenue and profit optimization software, today announced that it has kicked off 2018 with record-breaking performance and growth. In January alone, the company experienced a sales increase of 187 percent year-over-year. In addition, the company's service revenue, which includes pricing services and revenue best practices consulting, showed an increase of 107 percent. In January and February, Rainmaker expanded its reach in both the number...
Hospitality Financial Leadership – Creating and Using Your Own Labor Productivity Tools
David Lund | March 26, 2018
By David Lund With major wage increases in many jurisdictions, it is more important than ever to have a system for planning and measuring labor productivity in your hotel. This article explains how you can do this and it is not just for the big boys, you can utilize this system in any size operation. I am working with a client who is just in the throes of getting this going in one of his hotels. It is a bit of work but well worth the effort as the results are going to pay off big time. I want to share what is working for him because I know it will work for you as well. The first thing to create is a baseline for current productivity in ...
How Long Do Economic Cycles Last?
Hans Detlefsen | March 26, 2018
By Hans Detlefsen In June of 1857 the U.S. economy entered its 30th consecutive month of expansion. But banks were already starting to feel the impact of bad loans piling up. As the gold rush slowed, the pace of migration westward across the country also slowed. Railroad stocks began to decline. Land speculators lost big when new railroad construction projects did not materialize as they had hoped. When international newspapers reported that the British government had circumvented rules pertaining to gold reserves, U.S. depositors wondered whether something like that could happen here. Banks came under increasing pressure to meet withdr...
Rainmaker VP to Speak at Tribal Casino & Hotel Development Conference
Rainmaker | March 22, 2018
Presentation to focus on the tracking mechanisms casinos can use to increase profitability ALPHARETTA, GA – March 22, 2018 – The Rainmaker Group (Rainmaker), a leading provider of cloud-based hospitality revenue and profit optimization software, today announced that Angie Dobney, vice president of casino and gaming sales, will be a featured speaker at the 11th Annual Tribal Casino & Hotel Development Conference. The conference will be held March 26-27 at the Pechanga Resort & Casino in Temecula, Calif. Rainmaker is a gold-level sponsor of the event. Dobney will participate in a panel discussion entitled, How Tracking...
Hilton and Plateno Sign Agreement for Hampton by Hilton Dalian Labor Park in Greater China
Hampton by Hilton | March 21, 2018
SHANGHAI and MCLEAN, Va., March 21, 2018 -- Hilton (NYSE: HLT) and Plateno Hotels Group today celebrated the signing of the 200th hotel in Greater China as part of a master licence agreement, first announced in 2014. Hampton by Hilton Dalian Labor Park hotel becomes the 200th signing, with nearly 30 having already opened across China. Since launch, a new hotel has been signed on average every six days, with sites located across 120 first and second-tier cities, provincial capitals and popular tourism destinations. Alan Watts, President, Asia Pacific, said, "We are incredibly proud of the remarkable success of Hampton by Hilton in C...
Avison Young Hospitality Group First Quarter Review
Avison Young | March 20, 2018
ATLANTA – March 20, 2018 – The Avison Young Hospitality Group announced today that it expects to end the first quarter of 2018 having closed one hotel every week. The most notable sales included a full-service Marriott Hotel in the Chicago MSA and a Homewood Suites in downtown Nashville. The balance of closings included four other Hilton/Marriott select service hotels located throughout several regions and additional brand family closings. Avison Young Hospitality brokers involved in the sales were Brad Sinclair, Andy Broad, Chris Stark, Michael Bernath, Rick George, Wendy Blissett, Rex Cagle, Thierry Roch and John James. "F...
Twenty Four Seven Hotels to Manage Holiday Inn Ontario Airport for New Owner Sunway Investment Group
Twenty Four Seven Hotels | March 20, 2018
Newport Beach, CA, March 20, 2018 -- Twenty Four Seven Hotels, a leading, hospitality management company based in the western U.S., has attained a new contract for management services of the Holiday Inn Ontario Airport, located in Ontario, California, adding 180 rooms to its portfolio. The Holiday Inn Ontario Airport is the sixth hotel in this market managed by Twenty Four Seven Hotels, currently operating Hilton and Marriott premium select service brands adjacent to the Ontario Mills Shopping Mall. The hotel is the newest full-service property in the Ontario airport area, with extensive food and beverage operations and 5000 square feet...
In Partnership With Tanmiyat Real Estate, IHG to Rebrand Qatar’s M Doha Hotel as Crowne Plaza Doha West Bay
IHG | March 20, 2018
IHG (InterContinental Hotels Group), one of the world's leading hotel companies, has announced the signing of Crowne Plaza Doha West Bay in partnership with Tanmiyat Real Estate. Currently operating as the M Doha Hotel, the hotel is expected to be rebranded by August 2018, aligning with IHG's strategy to grow the Crowne Plaza brand across the region. Dr. Braik Bin Samikh, Chairman of Tanmiyat Real Estate, signed the agreement for Crowne Plaza Doha West Bay with Mr. Pascal Gauvin, Managing Director, India, Middle East & Africa, IHG. The signing ceremony was held at the M Doha Hotel in the presence of dignitaries from Embassies, EU &n...
Hotel Equities Selected to Operate New-Build Courtyard by Marriott in Winston-Salem, North Carolina
Hotel Equities | March 20, 2018
ATLANTA - (March 20, 2018) – Atlanta-based Hotel Equities announced its selection as the management firm for a new-build Courtyard by Marriott as part of a development project in downtown Winston-Salem, North Carolina. Developed by Commercial Realty Advisors, LLC of Winston-Salem and Clarendon Properties of Wilmington, NC, the 126-room property is scheduled to break ground in May. Located at 640 W. 4th Street in the heart of Winston-Salem, NC, the Courtyard will feature a rooftop bar with views of the surrounding downtown area. As the home of Wake Forest, University as well as the corporate headquarters of the prominent banking fi...
Finding & Recruiting Talent in Hospitality: Never More Than Two Degrees of Separation
David Lund | March 19, 2018
By David Lund Finding good people in our industry is a tough job, especially in certain economies. It is extra tough when you are looking for a particular skill set. Hospitality does not have the reputation for paying well. We have the reputation for long hours and working on weekends and holidays. Not exactly the millennial's picture-perfect career profile. Hospitality is special and either you get it and you drank the Kool-Aid or you don't. According to salary.com a hospitality degree is number four on the top eight college degrees with the worst return on investment. How is that for a hard pill to swallow. There is hope and there are...
Maxim Hotel Brokerage Announces Several California, Nevada, Arizona and Portfolio Hotel Closings
Maxim Hotel Brokerage | March 19, 2018
Newport Beach, CA – March 19, 2018 -- Maxim Hotel Brokerage is pleased to announce the sale of seven hotels and a casino in five separate transactions since December, 2017. 97-room Courtyard by Marriott Ventura Simi Valley, California; Maxim Hotel Brokerage represented the seller and original developer, Pacifica Madera LP. The purchaser was a Chinese owned, but locally based hotel management and ownership company. 120-room Fairfield Inn by Marriott Las Vegas Airport; Maxim represented the seller, Gan Eden LLC in the sale to a privately held ownership group. Twenty Four Seven Hotels will take over management. 490-room portfolio...
Two Roads Hospitality Appoints Craig A. Waterman as Vice President of Openings & Transitions
Two Roads Hospitality | March 15, 2018
Denver, Co., March 15, 2018 – International lifestyle company Two Roads Hospitality has appointed Craig A. Waterman as Vice President of Openings & Transitions. In this role, Waterman will oversee new and transitioning projects across the company's portfolio. Waterman joined Two Roads Hospitality in 2014 as General Manager of Hotel Kabuki, a Joie de Vivre property in San Francisco, and Regional Director of Operations, overseeing the Northern California, Arizona and Hawaii regions. "Craig has contributed to the success of many Two Roads Hospitality properties, ensuring operational excellence, guiding seamless transitions, and m...
A Case for Investing in Technology During the Design and Development Process
Robert Stevenson | March 15, 2018
Considering investing in technology during the design process of a new hotel property can only promote innovative ideation, allow hotel brands to expand on their experience, and save on installation costs by Robert Stevenson The discussion about technology has changed immensely over the past several years, and hoteliers worldwide have received the message: all guests, millennial, gen z, or otherwise, want mobile tech included in their experience. While the main conversation is about adjusting to consumer needs, there's a more prescient matter on the table for properties in development: considering technology in the design stages to ...
IHG Acquires 51% Stake in Regent Hotels & Resorts Through Joint Venture With Formosa for $39 Million
IHG | March 14, 2018
InterContinental Hotels Group ("IHG") [LON:IHG, NYSE:IHG (ADRs)] today announces that it has agreed to acquire a 51% stake in Regent Hotels and Resorts ("Regent") for $39 million in cash. IHG will have the right to acquire the remaining 49% interest in a phased manner from 2026. IHG will bring Regent into its brand portfolio at the top end of the luxury segment and will accelerate its growth globally, supported by IHG's powerful enterprise. IHG's intention is to grow the brand from six hotels today to over 40 hotels in key global gateway city and resort locations over the long term. Synonymous with timeless modernity, understa...
Australia Gives Go Ahead for AccorHotels Acquisition of Mantra Group
AccorHotels | March 13, 2018
AccorHotels welcomes the Australian Competition and Consumer Commission (ACCC) decision to clear the acquisition of Mantra group Ltd. The acquisition still requires approval from Mantra shareholders as well as approvals from the Federal Court and the Foreign Investment Review Board. Mantra is one of Australia's largest hotel and resort marketers and operators with 127 properties and over 20,000 rooms in hotels, resorts and serviced apartments across Australia, New Zealand, Indonesia and Hawaii, under three key brands: Peppers (28 properties), Mantra (75 properties) and BreakFree (24 properties). Mantra has more than 5,500 employees. The...
Aptech Computer Systems Announces Strategic Partnership With Inova Payroll
Aptech | March 13, 2018
Partnership Brings New Level of Convenience and Expanded Service to Customers of Both Companies Pittsburgh, PA., March 13, 2018 – Aptech Computer Systems, Inc., one of the leading hospitality accounting and business intelligence technology companies, announced a strategic partnership with Inova Payroll, a national payroll and human resources service provider. Aptech customers who select Inova's payroll and HCM technology will be able to view payroll expenses in Aptech's accounting systems, PVNG and Profitvue, and see labor information in Aptech's hospitality business intelligence application, Execuvue®. "This partnership bring...
Hospitality Financial Leadership – How to Read Hotel Financial Statements and The Link
David Lund | March 12, 2018
By David Lund The first thing you need to know about reading a hotel financial statement is there are basically two different statements you will want to get comfortable with. The two are the income statement—some call it the P&L or profit and loss statement—and the second is the balance sheet. Now I know what you are thinking, balance sheets are for the accounting types and they are complicated. Nothing could be further from the truth and I am going to give you a new understanding and share a secret about the balance sheet and the relationship to the P&L. Let's start with the income statement Something to note here:...
U.S. Travel Unveils Tool to Measure Tourism’s Impact on State Economies
U.S. Travel | March 8, 2018
Increases or decreases in visitors can have a significant impact on public services WASHINGTON (March 8, 2018)—Amid calls by some state lawmakers to cut state and destination marketing budgets, the U.S. Travel Association today released the Travel Economic Impact Calculator (TEIC), a tool designed to show the direct impact of an increase or decrease in traveler spending on a state's economy—and how travel-generated tax revenues directly supports public sector jobs—like firefighters, police officers and public school teachers. Travel promotion plays an integral role in driving tourism to destinations. Increased inv...
HFTP Renews Sponsorship Agreement With Keystep Solutions for 2018 London Interest Meeting
HFTP | March 8, 2018
Hospitality Financial and Technology Professionals (HFTP®) is pleased to announce Keystep Solutions as the exclusive sponsor of the upcoming HFTP London Interest Meeting. Keystep Solutions is a family owned British company specializing in access control systems – they include: electronic keycard locks, access readers, energy-saving room switches and lift controllers. The event will take place Monday, 12 March 2018 at the Rosewood Hotel in London. Guests are invited to join HFTP and top European hospitality executives for an evening of interesting speakers and discussion. Those interested in attending the complimentary event ca...
Rate and Bookings Growth Continue Positive Trend for Hoteliers in Early 2018
TravelClick | March 8, 2018
Both Group and Transient Travel Segments Experience Boost During First Quarter NEW YORK – March 8, 2018 – TravelClick, a leading global provider of data and revenue-generating solutions for hoteliers, today released new data from the Company's February 2018 North American Hospitality Review (NAHR). According to this data, North American hoteliers are continuing to experience healthy gains across both average daily rates (ADR) and bookings for all travel segments, up 0.6 percent and 1.3 percent, respectively, in the first quarter of the year. Transient bookings are particularly strong in Q1, up 1.9 percent across the segment ...
