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
Hospitality Financial Leadership – Create the Monthly Financial Circle!
David Lund | February 26, 2018
By David Lund It's A Circle – Create the Monthly Financial Circle! Practice is what we are missing. Practice with the financial piece is somehow a foreign concept. "Everything we do is practice for something greater than where we currently are." – Adam Kirk Smith If you and I worked in banquets and we were both rookies, we would show up every day and listen, work and learn, and in a relatively short period of time, we would both be pretty good at setting up, servicing and tearing down the banquet. How is this different from learning the financial piece? It is not, that's the illusion. It looks different because it is money a...
HFTP Sells Out Exhibition for Upcoming HITEC Amsterdam 2018, A 20 Percent Space Increase from Previous Year
HITEC | February 26, 2018
European extension to the world's largest and oldest hospitality exposition and conference brand Hospitality Financial and Technology Professionals (HFTP®), an international nonprofit association and producers of Hospitality Industry Technology Exposition and Conference (HITEC®), has sold all exhibit spaces for the upcoming HITEC Amsterdam 2018. HITEC Amsterdam will feature 84 exhibiting companies – a 20 percent increase from the inaugural 2017 event. A floorplan with a list of participating companies is available on the HITEC Amsterdam website. HITEC Amsterdam will take place from 11-13 April at the RAI Amsterdam Conventi...
Europe Hotel Construction Pipeline Booming With 22% YOY Growth and Middle East Pipeline Up With 11% YOY Growth
Lodging Econometrics | February 26, 2018
February 26, 2018 – PORTSMOUTH, NH – In line with its surging economic recovery, a recent Hotel Construction Pipeline Trend Report for Europe states that the Total Pipeline is booming with 1,316 Projects/205,650 Rooms, up 22% by projects Year-Over-Year (YOY) according to Lodging Econometrics (LE). There are 636 Projects/103,736 Rooms Under Construction, up 19% by projects YOY. Projects Scheduled to Start Construction in the Next 12 Months are at 412 Projects/63,815 Rooms, up 45%, while projects in Early Planning at 268 Projects/38,099 Rooms are up by 2%. The top countries in the Europe Construction Pipeline are: United Kingd...
Investing Into Brands of the Future
Pascal Gauvin | February 22, 2018
By Pascal Gauvin , Managing Director, India, Middle East and Africa (IMEA), IHG Today, investors ultimately select brands based upon strong operations, distribution, production, revenue management, ADR, occupancy, and RevPAR achieved. However, in the immediate future and beyond, investors should be looking at hotel brands with more granularity. As competition across the industry becomes more fierce and more disruptors enter the market, investors should assess which hotel brands are more receptive to the changes in consumer behaviour and are likely to adapt and consistently remain relevant to the traveller of the future. Brands that will...
IDeaS Revenue Solutions provides superior revenue strategy data for The Newport Harbor Hotel & Marina
Shaner Hotel Group | February 22, 2018
Independent property in Newport, RI gets competitive with an automated revenue management solution Tweet this: @IDeaS_RevOpt provides superior revenue strategy data for @Newport_Hotel. www.ideas.com/news #revenuestrategy MINNEAPOLIS – February 22, 2018 – With nearly 50 properties in their portfolio, both independent and branded hotels, the Shaner Group made a necessary choice for their Newport Harbor Hotel & Marina to advance their revenue strategy from a manual structure to an automated system. After looking at multiple solution providers, The Newport Harbor Hotel selected IDeaS Revenue Solutions (IDeaS), the leading pr...
Holiday Inn Express® Moscow – Sheremetyevo Airport Opens in Russia
IHG | February 21, 2018
IHG® (InterContinental Hotels Group®), one of the world's leading hotel companies, today announces the opening of Holiday Inn Express® Moscow – Sheremetyevo Airport. Located within walking distance to terminals D, E and F at Sheremetyevo International Airport, Russia's largest airport by passenger numbers, the hotel is in a prime location to accommodate Russian and international travellers, as well as the crew of leading airlines. Moscow Sheremetyevo International Airport is the largest hi-tech terminal complex in Eastern Europe with 35 million passengers a year (according to Aviaport agency) and is a leading Russian c...
B. F. Saul Real Estate Investment Trust Opens New Homewood Suites by Hilton Arlington Rosslyn Key Bridge in Virginia
Homewood Suites by Hilton | February 20, 2018
ARLINGTON, Va. and MCLEAN, Va. - Homewood Suites by Hilton, part of Hilton's (NYSE: HLT) All Suites portfolio, announced today its newest property, Homewood Suites by Hilton Arlington Rosslyn Key Bridge. Designed for guests who want to travel on their own terms, Homewood Suites by Hilton Arlington Rosslyn Key Bridge offers guests all the comforts of home, whether they are traveling for work or enjoying a well-earned getaway. With 168 new suites, the hotel is situated in the Rosslyn business district, just minutes to the activity centers of Arlington as well as Georgetown and downtown Washington, D.C. With close Metro accessibility, ...
Hilton Debuts First Dual-Brand Property in Mexico With Addition of Hilton Garden Inn Mexico City Santa Fe to DoubleTree by Hilton Opened in 2016
Hilton Garden Inn | February 20, 2018
MEXICO CITY, MEXICO and MCLEAN, Va. – February 20, 2018 – Hilton Garden Inn, Hilton's (NYSE: HLT) upscale yet affordable global brand of hotels, today announced the opening of Hilton Garden Inn Mexico City Santa Fe. In conjunction with the DoubleTree by Hilton Mexico City Santa Fe opened in 2016, the two hotels represent Hilton's first dual-brand property in Mexico. The contemporary Hilton Garden Inn Mexico City Santa Fe hotel offers 190 spacious guest rooms and suites for business and leisure travelers seeking upscale accommodations in an easy-going, amenities-rich environment. Meanwhile, the DoubleTree by Hilton Hotel Mexi...
Women in Leadership: A Rallying Cry
Dr. Sowon Kim | February 19, 2018
By Dr. Sowon Kim The financial services sector has finally begun shedding light on the gender pay gap within the industry, with Citi becoming the first major Wall Street bank to disclose internal data – albeit somewhat selectively – on gender pay, following activist shareholder pressure. The Financial Times (FT) reported earlier this month that, in a message to staff, Citi's head of human resources put the gender pay gap in the US, UK and Germany at just one percent. However, according to the FT's own research, while women account for up to 51 percent of Citi's global workforce, they make up only 42 percent of mid-level exec...
Hospitality Financial Leadership – Is Your Hotel Culture Blame or Appreciation?
David Lund | February 19, 2018
By David Lund In my career, I have seen both. Lots of appreciation for hard work and a challenging workplace. On the flip side a horror story of the blame for "mistakes" and lack of preparedness. Blame is the easy one to master. Management by embarrassment as I like to refer to it. One of my past hotels was a classic blame game hotel. After a much-publicized error or screw up or service interruption the GM would warmly ask, "Where is my victim?" or state, "Bring me the victim." What usually followed was paramount to a public flogging. Everyone got their turn and the others would just watch in stunned disbelief only being thankful that i...
The Ayre Group and the Government of Antigua to Develop New Luxury Resort on Valley Church Beach Funded in Whole with Bitcoin Cash (BCH) Profits
| February 19, 2018
A new and unique five star resort in Antigua was announced by the Ayre Group today. The development is located on the Valley Church beach and design work is already underway, with works scheduled to commence on site in late summer of 2018. The construction cost of the resort is expected to be in excess of USD $100m and will be entirely funded by profits made through the appreciation of Bitcoin Cash (BCH). The announcement was made by His Excellency Calvin Ayre, the Chairman of The Ayre Group, who also acts as Special Economic Envoy for the Government of Antigua and Barbuda. Hon. Ayre warmly thanked the Prime Minister, The Hon. Gaston Br...
Hotel Equities Promotes Becky Aleman to Regional Director of Operations
Hotel Equities | February 19, 2018
ATLANTA, GA (February 19, 2018) – Atlanta-based Hotel Equities (HE) recently promoted Becky Aleman to the position of Regional Director of Operations. Ms. Aleman has oversight of all above-property operations for a group of hotels managed by Hotel Equities. Based in Virginia, she most recently served as the General Manager of the Fairfield Inn & Suites by Marriott Lynchburg. With more than 16 years of hospitality industry experience, Ms. Aleman began her hospitality career as the Sales Manager at the TownePlace Suites by Marriott in Yorktown, Virginia and soon earned the post of Assistant General Manager at Courtyard by Marrio...
Hotel Transactions in India: What Will Move the Needle?
Hotelivate Private Limited | February 16, 2018
Hotel Transactions Earlier this year, two portfolio deals shaped the hotel transactions market of India with a consolidated transaction value of approximately US$85 million. This is no mean feat for a country where buying or selling of hotel assets has historically been as rare as sighting a snow leopard! Sarovar Hotel Group's acquisition by Louvre Hotels Group was primarily a non-asset deal aimed at gaining the scale and distribution of a management vehicle, with management income from over 70 hotels. In addition, Whitbread PLC from the UK exited India and sold their hotel real estate of five assets. However, other than these, the tran...
Rainmaker Executives Featured at Hotel Revenue Conference 2018
Rainmaker | February 15, 2018
Presentation to focus on optimizing group business for higher conversion rates and increased revenue ALPHARETTA, GA – Feb. 15, 2018 – The Rainmaker Group (Rainmaker), a leading provider of cloud-based hospitality revenue and profit optimization software, announced today that Amy Forss, senior sales director, and Mike Pavicich, director of hospitality sales, will be featured speakers at the Hotel Revenue Conference 2018. The conference will be held Feb. 21-22 at the Fairmont Olympic Hotel in Seattle. Rainmaker is a gold-level sponsor of the event. Forss and Pavicich will speak on optimizing group business for higher conversio...
How Amazon Go ‘No Checkout’ Stores Will Influence the Future of the Hospitality & Travel Industry
Alan E. Young | February 14, 2018
By Alan E. Young Our world is endlessly transformative, with a wealth of technological innovations and advances coming to life and capturing large-scale societal attention on what feels like a weekly basis. Self-driving cars, cryptocurrency, artificial intelligence — the future seems to be arriving faster than some of us have a chance to take a breath. At the heart of most revolutionary technology exists the progressive desire for increased convenience and efficiency as it applies to our day-to-day lives, businesses and more. Staying true to this trend, Amazon Go recently opened a grocery store like we've never experienced (but pr...
Latin America’s Construction Pipeline Stalling With Pojects Down 5% YOY
Lodging Econometrics | February 14, 2018
February 14, 2018 – PORTSMOUTH, NH The Total Construction Pipeline in Latin America has 831 Projects/142,084 Rooms, down 5% by projects Year-Over-Year (YOY). There are 374 Projects/67,130 Rooms Under Construction, down 9% by projects YOY. Projects Scheduled to Start Construction in the Next 12 Months are at 208 Projects/31,614 Rooms, up 23%, while those in Early Planning are at 249 Projects/43,340 Rooms, down 16% YOY. The top hotel companies in Latin America's Construction Pipeline by projects are: AccorHotels with 136 Projects/19,729 Rooms, Marriott International with 99 Projects/16,054 Rooms and Hilton Worldwide with 70 Projects...
Hilton Signs with Gulf-Egypt for Hotels & Tourism to Operate Heliopolis Hotel & Towers as Hilton Cairo Heliopolis and Soon-to-Be Waldorf Astoria in Af
Hilton | February 14, 2018
CAIRO, Egypt, February 14, 2018 -- Hilton (NYSE:HLT) continues its growth and development in Egypt, 60 years after first entering the country, with the opening of the Hilton Cairo Heliopolis. The leading global hospitality company has also confirmed plans for the debut of its luxury brand Waldorf Astoria in Egypt later this year – once rebranded, this will be the company's first Waldorf Astoria hotel in Africa, staking ground for Hilton as a luxury operator in the region. Hilton has signed two management agreements with Gulf-Egypt for Hotels & Tourism (S.A.E) to operate Heliopolis Hotel & Towers Luxury Hotel under two dist...
Hilton and Zagreb City Hotels Developing Canopy by Hilton Zagreb Opening in Croatia Late 2018
Canopy by Hilton? | February 13, 2018
ZAGREB, Croatia and MCLEAN, VA – February 13, 2018 – Hilton (NYSE:HLT) and Zagreb City Hotels d.o.o announced today development plans for Canopy by Hilton Zagreb. The project, featuring Hilton's hotel brand that redefines the lifestyle hotel category, is scheduled to open in late 2018. The property will provide a comfortable stay for guests in search of thoughtfully local experiences in Zagreb's vibrant downtown neighborhood. The hotel will be the first Canopy in continental Europe. Situated in downtown Zagreb, close to the city's main rail station, the hotel is expected to welcome its first guests in late 2018, and will be ...
Projects in Canada’s Construction Pipeline Up 17% YOY
Lodging Econometrics | February 13, 2018
February 13, 2018 – PORTSMOUTH, NH According to Lodging Econometrics (LE), the total Construction Pipeline in Canada currently has 244 Projects/32,170 Rooms, up 17% by projects Year-Over-Year (YOY). There are 87 Projects/11,286 Rooms Under Construction, up 19% by projects YOY. Projects Scheduled to Start Construction in the Next 12 Months are at 91 Projects/10,536 Rooms, up 15%, while those in Early Planning are at 66 Projects/10,348 Rooms, up 18%. The top hotel companies in Canada's Construction Pipeline by projects are: Marriott with 54 Projects/7,764 Rooms, InterContinental Hotels Group (IHG) with 43 Projects/4,436 Rooms, and H...
CooperWynn Real Estate Completes the Sale of the Holiday Inn Express Albuquerque -I 40/Eubank
CooperWynn Real Estate | February 13, 2018
Park City, UT – February 14, 2018 – As exclusive agent to Express Investments, Inc., CooperWynn Commercial Real Estate, is pleased to announce the sale of the 104-room Holiday Inn Express located at 10330 Hotel Circle in Albuquerque, New Mexico to Dallas based Newstream Hotels & Hospitality, a subsidiary of Newstream Commercial. Built in 1994, the property is well located on the northeast corner of the intersection of Interstate 40 and Eubank Blvd NE proximate to major demand generators such as Kirkland Airforce Base and Sandia National Laboratories. "The property was in excellent physical condition and garnered signific...
Rainmaker’s revcaster® Powers Newly Enhanced Market Intelligence for Omni Hotels & Resorts
Rainmaker | February 13, 2018
revcaster's next-generation platform recently implemented across the Omni brand ALPHARETTA, GA – Feb. 13, 2018 – The Rainmaker Group (Rainmaker), a leading provider of cloud-based hospitality revenue and profit optimization software, today announced that it has expanded its partnership with Omni Hotels & Resorts (Omni) by transitioning them to the recently launched, next-generation of revcaster® across the brand's portfolio of properties, covering more than 20,000 rooms across 60 properties in North America. In addition to being a revcaster customer since 2015, Omni is a longstanding customer of Rainmaker's guestrev&...
Mid-Market Brands Led Hotel Sales Volume in 2017
Lodging Econometrics | February 12, 2018
February 12, 2018 – PORTSMOUTH, NH – According to the recent U.S. Transaction Trend Report from Lodging Econometrics (LE), major mid-market brands with a price reported into the public domain led the U.S. in hotel sales volume in 2017. The Hilton brands with most hotel sales by price were Hilton Garden Inn with an Average Selling Price Per Room (ASPR) of $193,732 for 16 hotels, Homewood Suites with an ASPR of $189,342 for 13 hotels and Hampton Inn & Suites with an ASPR of $114,383 for 29 hotels. The Marriott brands with the most hotels sold in 2017 were Residence Inn with an ASPR of $152,672 for 31 assets, Courtyard with...
Orlando Tops 2017 Markets with 21 Hotels Sold and Average Selling Price Per Room of $96,402
Lodging Econometrics | February 12, 2018
February 12, 2018 – PORTSMOUTH, NH – According to analysts at Lodging Econometrics (LE), through the end of 2017 the markets with the largest number of hotels with selling prices reported into the public domain were: Orlando with 21 hotels and an Average Selling Price Per Room (ASPR) of $96,402, followed by two markets with 19 hotels sold, New York with an ASPR of $426,443 and Washington DC with $260,681. The next three markets with 15 hotels sold each were: Seattle with an ASPR of $236,958, Phoenix with $205,265 and Atlanta with $136,321. ...
Hospitality Financial Leadership – Creating a Hotel Accounting Policy Manual – The Dos and Don’ts
David Lund | February 12, 2018
By David Lund After recently completing a policy manual for a client, I want to share what worked for this hotel company and what could work for you. I also want to clear the air on policy vs. procedure. I know it is a big challenge to get a policy manual together for a hotel or hotel company. The big brands have resources to get the job done but the smaller brands and management companies do not have the same bandwidth. It is a project that always gets kicked down the calendar to another month or quarter. Check out another article I have written on why creating a hotel accounting policy manual is so challenging: http://hotelfinancialco...
