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
The University of Rhode Island Issues Request for Qualifications and Expressions of Interest for Real Estate Development on the URI Kingston Campus un
University of Rhode Island | January 29, 2018
The University of Rhode Island has fee title to a 4.2 acre site located at 85 - 95 Upper College Road, Kingston, RI and is seeking a qualified commercial real estate developer or development team to develop and operate a new 100 guest room hotel, with some extended stay rooms, and a new mixed-use retail/office/apartment building on the Site, across from the core historic campus quadrangle, a National Historic Landmark. This is a unique property with access to a University population over 20,000. Additionally, the subject site is proximate to various other regional demand generators, such as the area beaches in Narragansett and Newport. ...
RLH Corporation Executes Five Hotel Purchase and Sale Agreements
RLH Corporation | January 29, 2018
DENVER (January 29, 2018) — RLH Corporation (NYSE:RLH) today announced the execution of five hotel purchase and sale agreements resulting from the previously disclosed listing for sale of 11 company-owned hotels. The five sales are currently anticipated to close in February or early March, 2018, subject to standard contingencies and closing conditions. The sale prices contracted on these five assets exceeded the company's expectations. The real estate market conditions remain robust and RLH Corporation was able to negotiate pricing for these first five hotels reflecting single-digit cap rates. The company expects to maintain Red L...
Marriott, Hilton and IHG Lead U.S. Construction Pipeline Comprising 69% of Total Pipeline
Lodging Econometrics | January 29, 2018
January 29, 2018 – PORTSMOUTH, NH – According to the recent United States Construction Pipeline Trend Report from Lodging Econometrics (LE), the franchise companies with the largest construction pipelines are; Marriott with 1,410 Projects/180,647 Rooms, Hilton with 1,287 Projects/144,958 Rooms and IHG with 831 Projects/84,865 Rooms. These 3 franchise companies comprise 69% of all projects in the Total Pipeline. The largest brands for each of these companies are: Marriott's Fairfield Inn with 303 Projects/29,051 Rooms and TownePlace Suites with 208 Projects/21,299 Rooms; Hilton's Home2 Suites with 355 Projects/37,188 Rooms an...
Hospitality Financial Leadership – Every Line Needs an Owner
David Lund | January 29, 2018
By David Lund My dear mother Donna often recited her favorite sayings, especially when she wanted to make a point. She had some really good sayings, and several have stuck with me. One of them I relate to hotel financial leadership. Her saying was "Many hands make light work." How does that relate to creating an engaged leadership team at your hotel? Let me explain. It is true in any aspect of our lives at home and work that teamwork makes things easier. The reason it makes them easier is that we have more effort directed toward the thing we are trying to do. The simplest example is trying to lift a heavy rock. If we work in a coordinat...
AHLA’s Financial Management Committee Issues Guidance for the New Revenue Recognition Standards
American Hotel & Lodging Association (AHLA) | January 25, 2018
The Financial Accounting Standards Board ("FASB") recently revised how revenue from contracts with customers should be recorded. This was contained in FASB's Accounting Standards Codification ("ASC") 606. Implementation of ASC 606 is effective starting January 1, 2018 for public companies and no later than December 31, 2019 for all other companies. The objectives of the new accounting guidance are to clarify how revenue should be recognized for goods and services. The American Hotel & Lodging Association's (AHLA) Financial Management Committee has issued guidance on the new revenue recognition standards and how it affects the hotel ...
HFTP Launches Certification Advisory Program (CAP) to Benefit CHAE and CHTP Applicants
HFTP | January 25, 2018
The new program will pair new certification applicants with experienced mentors International association Hospitality Financial and Technology Professionals (HFTP®) recently introduced its new Certification Advisory Program (CAP), which is designed to provide guidance to Certified Hospitality Accountant Executive (CHAE®) and Certified Hospitality Technology Professional (CHTP®) applicants. The inaugural program will pair HFTP certification candidates with HFTP members who hold an active HFTP designation. The advisors will help and support candidates via one-to-one interactions as a supplemental review option for the certific...
Marriott Boasts Largest Franchise in U.S. Construction Pipeline with 1,410 Projects Total
Lodging Econometrics | January 25, 2018
January 25, 2018 – PORTSMOUTH, NH – Marriott International currently has the largest construction pipeline of any franchise company in the U.S. with 1,410 Projects/180,647 Rooms. Their largest brands in the Total Pipeline are: Fairfield Inn with 303 Projects/29,051 Rooms, Residence Inn with 199 Projects/24,680 Rooms and TownePlace Suites with 208 Projects/21,299 Rooms. Marriott has the most rooms currently Under Construction with 502 Projects/68,119 Rooms, which represents more than 1/3 of all Pipeline rooms Under Construction. Additionally, they have the most rooms Scheduled to Start Construction in the Next 12 Months with ...
New Guide Outlines Strategies for Building Thought Leadership, Influence and Market Leadership
Puzzle Partner | January 25, 2018
Travel and Hospitality marketing agency Puzzle Partner shares content marketing tactics that drive trust, visibility and sales TORONTO, ON (January 25, 2018) – We have entered an age where leadership matters more than ever — thought leadership, to be exact. Building trust, credibility, awareness, and influence to increase profits is more than just a goal of most CEOs and executives. It's also the topic of a new guide from the leading travel and hospitality technology marketing agency, Puzzle Partner. The firm recently published "Thought Leader - Market Leader" developed to help brands become a sought-after source for informa...
HFTP Chapters Offer Regional Education for Hospitality Finance and Technology Professionals
HFTP | January 24, 2018
Online registration open for Mid-South Atlantic Regional and Florida Regional Several chapters of Hospitality Financial and Technology Professionals (HFTP®) have banded together to curate and host regional, educational conferences in 2018. HFTP's regional conferences showcase the many advantages of HFTP membership, and provide continuing education and networking opportunities to hospitality professionals in the area. To date, two HFTP regional conferences have been scheduled in areas across the United States. "HFTP's regional conferences are known for their intimate nature and top-notch education sessions," said F...
The Year-End U.S. Hotel Construction Pipeline Continues Its Upward Growth Trend, Projects Up 4% YOY
Lodging Econometrics | January 24, 2018
January 24, 2018 – PORTSMOUTH, NH – According to the year-end U.S. Construction Pipeline Trend Report from Lodging Econometrics (LE), the pipeline stands at 5,151 Projects/623,695 Rooms, up 4% by projects Year-Over-Year (YOY). There are 1,544 Projects/200,632 Rooms Under Construction, up 2% by projects YOY. Projects Scheduled to Start Construction in the Next 12 Months, at 2,101 Projects/245,214 Rooms are down 12% by projects YOY. Projects in Early Planning are at 1,506 Projects/177,849 Rooms, up 44% by projects YOY. The rapid growth of new brands announced by major franchise companies in 2017 contributed to the increase in ...
Pebblebrook Hotel Trust Presents the 6th Annual Pebby Award Nominations
Pebblebrook Hotel Trust | January 23, 2018
HOLLYWOOD, Calif.--Pebblebrook Hotel Trust (NYSE: PEB) (the "Company") today announced the nominations for its Sixth Annual Pebby Awards. The Pebby Award nominees were chosen for their outstanding accomplishments in 2017, as determined by the Company. The Academy's nominations are notably diverse this year, and while Skamania Lodge received four nominations, multiple hotels earned three nominations each, including: Hotel Zoe San Francisco; Hotel Zelos San Francisco; LaPlaya Beach Resort & Club; The Nines, a Luxury Collection Hotel, Portland and Union Station Hotel Nashville, Autograph Collection. The fierce competition amongst the p...
Hospitality Innovators to Converge at Sixth Annual RSS This July
Kalibri Labs | January 23, 2018
Hotel Industry Leaders Meet to Confront Challenges of Evolving Consumer Trends and Increasing Complexity in Distribution and Technology Washington, D.C., January 23, 2018 — Hoteliers and industry thought leaders will come together July 10 to identify the major trends transforming hospitality and share best practices for facing them at the annual RSS in Washington, D.C. The sixth RSS will be held at The Newseum on Pennsylvania Avenue, just a few blocks from The White House. "The Newseum is a perfect venue for RSS in its sixth year, because it seems like it's a new story in this industry every day," said Patrick Bosworth, Co-Founder...
Hilton Appoints Navjit Ahluwalia and Jatin Khanna to Key Leadership Positions in India
Hilton | January 22, 2018
GURGAON, India and MCLEAN, Va. - Hilton (NYSE: HLT) today announced the appointments of Navjit Ahluwalia as Senior Vice President and Country Head, India, and Jatin Khanna as Vice President and Head of Operations, India. Effective immediately, Ahluwalia will oversee Hilton's 33 hotels trading and under development, including the recently opened Conrad Bengaluru, while leading the company's growth strategy in the country. Khanna, who assumes his position next month, takes over operations from Andre Gomez, who will be moving to a new role elsewhere in the company. "India is swiftly becoming one of the fastest growing travel a...
The Provenance Chain: Uncovering the Connection Between Provenance and Sustainable Growth
IHG | January 22, 2018
2018 IHG Trends Report demonstrates the competitive advantage derived from a powerful and authentic provenance which resonates with consumers Provenance is the foundation for enduring brand success and has become more important than ever for organisations wanting to succeed in today's complex consumer environment. That is the finding of the 2018 Trends Report published today by IHG® (InterContinental Hotels Group) at the World Economic Forum in Davos. In the sixth edition of this annual report series, IHG reveals The Provenance Chain; five interconnected stages which provide a demonstrable link between provenance and sustainable gro...
HFTP Launches New GDPR Bytes Site, an Addition to its Online News Portfolio
HFTP | January 19, 2018
A daily news source as the industry prepares for a compliance date of May 25, 2018 Hospitality Financial and Technology Professionals (HFTP®), an international nonprofit hospitality association, announced today the launch of its new GDPR Bytes website. GDPR Bytes is an aggregated content destination where users will find the latest news all in one place. The cross-platform site serves as a daily news outlet that brings together specific publications, reports, feature articles, white papers and more. As hospitality companies conducting business in Europe prepare to make operational changes to conform with the EU General Data Protecti...
Avison Young Hospitality Group Has Another Strong Year in 2017
Avison Young | January 18, 2018
ATLANTA – January 18, 2018 – The Avison Young Hospitality Group announced today that 2017 was another strong transaction year for the hotel practice group. Since 2013, the group has closed 325 hotel transactions, consisting of 93 Marriott, 68 Hilton, 43 IHG, 28 Choice, 17 Red Roof, 15 Wyndham, seven Carlson and 54 other branded, historical or independent hotels. In addition, the hospitality practice currently has 191 assets on the market with a cap value of $3.2 billion. These assets combined have over 17,000 rooms. 70 of the assets are hotels under sale agreement totaling almost 1 billion in allocated property value. "Given...
All Suites Brands by Hilton Recognize Top Hotels and Team Members at First-Ever Tri-Brand Conference
Embassy Suites by Hilton | January 17, 2018
Attendees Participated in Clean the World's Largest Hygiene Kit Building Event To-Date NEW ORLEANS and MCLEAN, Va. - The three award-winning brands that are part of the All Suites portfolio by Hilton (NYSE: HLT) - Embassy Suites by Hilton, Homewood Suites by Hilton and Home2 Suites by Hilton - recognized top hotels and team members as best-in-class performers during the recent All Suites hotel leadership conference held in New Orleans. This marked a significant milestone for the All Suites brands by Hilton, as it was their first joint conference since the creation of the category in 2015. Additionally, as the first in the hotel industry...
SHR 2017—Another Year of Growth and Innovation
SHR | January 17, 2018
HOUSTON, TX, January 17, 2018—SHR, Sceptre Hospitality Resources, a pioneer and leading provider of advanced hotel distribution technologies and developer of Windsurfer® CRS, is pleased to provide a look back at its activities over 2017, a year full of new clients, partners, and innovation, including the following highlights and milestones. Growth and Market Expansion Cross-Tinental Acquisition. In August, SHR acquired Cross-Tinental, a well-known leader in the European hospitality tech consultancy sector. This purchase served to immediately jump start SHR's already growing European presence, giving the company a broader base ...
Owned by Prestige Group, New Conrad Bengaluru Opens in India
Conrad Hotels & Resorts | January 16, 2018
BENGALURU, India – (January 16, 2018) – Conrad Hotels & Resorts today celebrates further expansion in India with the opening of Conrad Bengaluru. Soaring 24 stories above Bengaluru's Central Business District, the new luxurious hotel, which is owned by Prestige Group and managed by Hilton (NYSE: HLT), is superbly located in the city providing excellent accessibility to prime business, technology, art and entertainment districts. "The impressive Conrad Bengaluru is an outstanding addition to our luxury portfolio in Asia Pacific and we are delighted to be partnering with the Prestige Group on this exciting project. The tim...
PwC: Global Economic Growth in 2018 on Track to Be Fastest Since 2011
PwC | January 16, 2018
The main engines of the global economy - the US, emerging Asia and the Eurozone - are expected to contribute almost 70% of economic growth in 2018 compared to their post-2000 average of around 60%. Growth in the Eurozone is predicted to be above 2% in 2018, as PwC expects the peripheral economies to outpace the core for the fifth consecutive year. Of the larger Eurozone economies, the Netherlands is expected to lead the way with economic growth at around 2.5%. By contrast, uncertainty relating to Brexit is expected to drag on UK growth, which is predicted to be 1.4% in 2018. Barret Kupelian, senior economist at PwC, comments: "In 2...
Hospitality Asset Managers Association (“HAMA”) Names 2018 Board of Directors
HAMA | January 16, 2018
ATLANTA, Ga., January 16, 2018—Officials of the Hospitality Asset Managers Association ("HAMA") today announced their new board of directors for 2018. Recently appointed at the group's semi-annual conference, the new members include: CHMWarnick's Maxine Taylor as president Three Wall Capital's Tim Dick as vice-president Fulcrum Hospitality's Larry Kaminsky as secretary Host Hotels & Resorts' Christopher Ostapovicz as treasurer Pinnacle Advisory Group's Matthew Arrants as marketing chair hotelAVE's Kim Gauthier, CHAM (Certified Hotel Asset Manager), as head of the education chair CHMWarnick's Larry Trabulsi as head of t...
Sonnenblick-Eichner Company Arranges $60,000,000 of Financing for The St. Regis Deer Valley, Park City, Utah
Sonnenblick-Eichner Company | January 16, 2018
Beverly Hills, California – January 16, 2018 – Sonnenblick-Eichner Company announced today that it has arranged $60 million of financing for The St. Regis Deer Valley (www.stregisdeervalley.com), a year-round destination resort located on the slopes of the world renowned Deer Valley ski area in Park City, Utah. The St. Regis Deer Valley offers 67 hotel condominium suites divisible into 177 hotel keys and 25 private whole-ownership residences. The ski-in, ski-out resort is considered among the finest destination ski resorts in the world. Amenities at the resort include the 14,000 square-foot Remède Spa and fitness faci...
The Belvedere Hotel Trusts IDeaS’ Advanced Technology to Optimize Revenue Strategy, Increase ADR
The Belvedere Hotel | January 16, 2018
Independent hotel switches revenue technology to capture more demand and optimize revenue results with IDeaS G3 RMS Tweet this: @BelvedereNYC switches #revenuemanagement providers to optimize revenue opportunities with @IDeaS_RevOpt MINNEAPOLIS – Jan. 16, 2018 – Step into the 1920s at this art-deco styled, independent property in New York City – The Belvedere Hotel. This non-traditional boutique hotel, accommodating an impressive 355 guestrooms, is within a block and a half of Times Square, yet offers guests a quiet residential feel. The Belvedere sought to upgrade its revenue strategy solution in order to keep up with...
Fairfield Inn & Suites Grand Mound Centralia Opens in Rochester, Washington with General Manager Curtis Crimmins at the Helm
Fairfield Inn & Suites | January 15, 2018
Rochester, WA – January 16, 2018 – The 88-room Fairfield Inn & Suites by Marriott in Rochester, Washington opened today with its unique design and décor that incorporate the Native American culture and reflect the heritage of the ownership. Located at 6223 197th Way SW, the Fairfield Inn & Suites Grand Mound Centralia will operate as a Marriott franchise, owned by Chehalis Tribal Enterprises and managed by InnSight Hotel Management Group. Whether traveling for business or pleasure, the Fairfield Inn & Suites Grand Mound Centralia offers guests convenient access to the Lucky Eagle Casino, the Great Wolf Lod...
