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
Plaza Hospitality Selects Hotel Equities to Manage Holiday Inn Express & Suites in Trinity, Florida
Hotel Equities | January 15, 2018
ATLANTA–January 15, 2018–Atlanta-based Hotel Equities recently announced its selection as the management firm for the Holiday Inn Express & Suites in Trinity, Florida. Owned by Plaza Hospitality, LLC, the property continues to be a first choice for travelers in the Trinity, Florida market with some of the highest guest satisfaction scores and a top ranking among nearly 300 hotels in the Tampa St. Petersburg Clearwater area. Located in the North Tampa Bay community of Trinity, the lakefront, resort-style hotel stands conveniently among shopping and restaurants and within minutes of beaches and the wide variety of attracti...
Hospitality Financial Leadership – Recording Average Length of Stay
David Lund | January 15, 2018
The one thing I see time and time again with clients is just how poorly their financial statements are set up. The statements almost always lack basic information that is readily available and is critical information for maximizing profitability: poor design and missing features. If they were a car, I would want to call them a Lada. My apologies to any Russian readers. The flip side of this challenge is all the information that is needed to fix this reporting problem is at your fingertips. No new software is required. No real investment. Your team just needs to use what they already have and put it to work. Typical stumbling blocks to c...
HFTP Now Accepting Applications for Entrepreneur 20X at HITEC Houston 2018
HITEC | January 15, 2018
Innovative pitch competition for hospitality technology startups Back by popular demand, international nonprofit Hospitality Financial and Technology Professionals (HFTP®) is proud to host its innovation pitch competition, Entrepreneur 20X (E20X), at the world's largest hospitality technology exposition in 2018. HFTP is currently accepting applications online from hospitality startups who wish to compete in E20X at HITEC® Houston this June. Past applicants and winners are welcome to re-apply as long as they are still considered Series A or a startup. E20X came to be at HITEC Austin in 2015, and since has expanded internatio...
Owned by Dreamcatcher and Managed by Sun Capital Hotels, Fairfield Inn & Suites by Marriott Now Open in Albuquerque, New Mexico
Fairfield Inn & Suites | January 15, 2018
Albuquerque, NM – January 16, 2018 – The 89-room Fairfield Inn & Suites by Marriott in Albuquerque, New Mexico opened in December with its smart, inventive public space and guest room design, and its bright and inviting décor. Located at 4875 Pan American West Freeway NE, the Fairfield Inn & Suites Albuquerque North will operate as a Marriott franchise, owned by Dreamcatcher and managed by Sun Capital Hotels. Located 10 miles from Albuquerque International Sunport and five minutes from downtown, the Fairfield Inn & Suites Albuquerque North offers guests convenient access to businesses located in the Albuqu...
The Hotel Group Expands Portfolio with Addition of Home2 Suites by Hilton – Yakima Airport, Washington
The Hotel Group | January 11, 2018
Seattle, WA, January 11, 2018 — The Hotel Group, a leading national hotel management and investment company, announced today the addition of the four-story Home2 Suites by Hilton Yakima - Airport, Washington to its growing portfolio. The property broke ground in late 2017 and is scheduled to open Spring 2019. The hotel is being designed to comfortably host families and sports teams, along with business and leisure travelers. The property is being developed by Yakima based Hogback Development and will feature 107 studios with one-bedroom suites and kitchenettes. The Home2 Suites by Hilton Yakima Airport is designed to appeal to "sa...
Lake Lawn Resort Selects Solution Suite from Rainmaker to Increase Profitability and Outperform the Competition
Rainmaker | January 10, 2018
Wisconsin Resort Implements Rainmaker's Industry-Leading Revenue Optimization Solutions ALPHARETTA, GA. — Jan. 11, 2018 — The Rainmaker Group (Rainmaker), a leading provider of cloud-based hospitality revenue and profit optimization software, today announced that Lake Lawn Resort in Delavan, Wis., has selected a comprehensive solution suite, including guestrev®, grouprev®, revcaster® and revintel®, to optimize hotel revenue and drive competitive advantage at the 271-room property. The agreement expands Rainmaker's footprint in the upscale hotel and resort market. Lake Lawn Resort, located less than 90 minutes...
Serent Capital Invests in BirchStreet Systems, a Leader in Procure-to-Pay Business Solutions
BirchStreet Systems | January 10, 2018
San Francisco, CA – January 10, 2018 – Serent Capital, a San Francisco-based private equity firm focused on investing in high-growth technology and services businesses, has made a minority investment in BirchStreet Systems, the leading provider of cloud-based procure-to-pay automation software for customers in the hospitality, restaurant, and foodservice industries. BirchStreet's suite of solutions encompasses eProcurement, Accounts Payable Automation, Inventory Management, Recipe System Management, and Capital Projects. The software increases efficiency by streamlining many manual processes and creates a comprehensive, inte...
Paramount Lodging Advisors West Coast Office Sells California Courtyard by Marriott Land
Paramount Lodging Advisors | January 10, 2018
Paramount Lodging Advisors (PLA) has successfully executed the sale of a land parcel with approvals for a 122-room Courtyard by Marriott development located in Petaluma, California. Senior Managing Director Scott Griemsmann represented the seller in this transaction. The hotel itself will be part of the 35-acre "Riverfront" mixed use development. It is currently planned to include office, residential, retail, and 7.5 acres of open space. "We are very pleased with the results for this transaction. This is a great project in a high barrier to entry market that has easy access to Napa/Sonoma wine country and the San Francisco Bay Area. Thi...
Sonnenblick-Eichner Company Arranges $110,000,000 of First Mortgage Financing for InterContinental San Francisco
Sonnenblick-Eichner Company | January 10, 2018
Beverly Hills, California – January 10, 2018 – Sonnenblick-Eichner Company announced today that it has arranged $110 million of first mortgage financing to refinance the InterContinental San Francisco, a 32-story, 550-room hotel located adjacent to San Francisco's Moscone Convention Center in the South of Market district (SOMA) of downtown San Francisco, California. The Four-Diamond, AAA-rated hotel includes 43,000 square feet of meeting, banquet and pre-function space; Luce, a Michelin rated restaurant; a 10,000 square-foot spa and subterranean parking accommodating 180 valet spaces. The interest rate for this 10-year, non-...
Owned by Starwood Capital and Managed by Aimbridge Hospitality, Courtyard by Marriott Opens in Woodbury, Minnesota
Courtyard by Marriott | January 10, 2018
Woodbury, MN – January 11, 2018 – Courtyard by Marriott St. Paul/Woodbury is scheduled to open its doors in Woodbury, Minnesota today, January 11, 2018. Featuring an innovative lobby space as well as Courtyard's latest contemporary room design, the new hotel provides flexibility and choices that allow guests to optimize and elevate their travel experience. Located at 185 Radio Drive, the 120-room hotel will operate as a Marriott franchise, owned by Starwood Capital and managed by Aimbridge Hospitality of Plano, Texas. Whether traveling for business or pleasure, the Courtyard St. Paul/Woodbury offers guests convenient access ...
2018 Commercial Real Estate Lending Predictions
Brian Holstein | January 9, 2018
By Brian Holstein Borrowers and lenders both enjoyed a fruitful 2017 and US Hotel Advisors predicts that 2018 will be more of the same. Looking Back at 2017 Most experts predicted that 2017 would be a rough year for commercial real estate lenders and borrowers alike. The "Wall of Maturities" was supposed to come crashing down. The newly-instituted risk-retention regulations were expected to curtail lending capacity and damage liquidity. Both the 10-year Treasury rate and loan spreads were projected to rise. All of this sounds dreadful, unless of course it never happened. US Hotel Advisors took the contrarian view and got it right. The "...
HITEC Houston Online Registration and Housing Bureau Open; Advisory Council Announced
HITEC | January 9, 2018
Hospitality Financial and Technology Professionals (HFTP®), producers of the world's largest Hospitality Industry Technology Exposition and Conference (HITEC®), has announced that attendee registration for its HITEC Houston is now available online as well as hotel reservations. Selected by HFTP leadership for their experience and expertise, the HITEC Houston Advisory Council will determine event's education program. HITEC Houston will be the second, and largest, HITEC event of 2018, and will take place from June 18-21 at the George R. Brown Convention Center in Houston, Texas USA. "The selection process for HFTP'...
New Year, New Franchise Partner?
Steve Belmonte | January 9, 2018
Owners should expect to get a lot more for a lot less from their franchise system in 2018 By Steve Belmonte Are you part of a great franchise? Because in today's environment, hotel companies need to be great to ensure a return on the owner's investment. What really makes a franchise great? To start with, a franchisor needs to understand the issues that hotel owners face daily and be understanding of their needs. A great franchise company has a strong infrastructure designed for one purpose — generating revenue and reservations for its owners and doing it at the lowest possible cost. Providing services such as full revenue manageme...
HFTP Releases Sample Hospitality Job Descriptions for Industry Professionals’ Use
HFTP | January 5, 2018
Effective templates for industry department leaders Discover example job description templates produced by international nonprofit Hospitality Financial and Technology Professionals (HFTP®) and the HFTP Americas Research Center. The organizations compiled information into standardized descriptions for accounting and IT positions in the lodging industry, as well as descriptions for accounting positions in clubs. Available now via the HFTP website as well as its hospitality-specific search engine, PineappleSearch.com®. The HFTP Hotel Finance Advisory Council and HFTP Club Advisory Council provided guidance for the development of t...
Hospitality Financial Leadership – Financial Statement Analysis and Your Hotel Career
David Lund | January 2, 2018
If you google the words "financial statement analysis," you will get a long list of definitions like this one by Wikipedia: "Financial statement analysis (or financial analysis) is the process of reviewing and analyzing a company's financial statements to make better economic decisions. These statements include the income statement, balance sheet, statement of cash flows, and a statement of changes in equity. Financial statement analysis is a method or process involving specific techniques for evaluating risks, performance, financial health, and future prospects of an organization." What it will mean to you as a leader in the hospit...
China – Hotel Asset Management in Numbers
Daniel J Voellm | December 28, 2017
By Daniel J Voellm ABSTRACT A period of irrational hotel development drive by ulterior motives has seen properties being built that are not economical in operations, use of real estate and ultimately investment. The industry must depart from its obsession with full-service hotels and embrace more realistic investment criteria, should hotels ever become a trading asset class with reasonable liquidity, attracting investors from around the globe. Controlling labor cost is paramount and too many properties cannot drive sufficient business to justify their expenses. Most hotels are too large, both in number of units and gross floor area and ...
Hospitality Financial Leadership – A White Paper on a 6-Month Client Workshop/Coaching Engagement – Part 3
David Lund | December 27, 2017
By David Lund The following is an overview of a six-month financial leadership project that I recently completed at a full-service hotel. The project consisted of six half-day hospitality financial leadership workshops delivered in house and monthly 1-1 leadership coaching appointments with the 15 managers assigned to the program. Each month of the project we completed a group workshop and each manager had a coaching meeting with me. The project goal had five measurable elements: Complete Forecasts—get the managers and leaders of this hotel to complete their monthly departmental financial forecasts. Track their results througho...
Hotel Equities to Operate Fairfield Inn & Suites Tulsa SE, Oklahoma
Hotel Equities | December 21, 2017
ATLANTA–December 21, 2017–Atlanta-based Hotel Equities recently announced its selection as the management firm for the Fairfield Inn & Suites by Marriott Tulsa SE/Crossroads Village in Tulsa, Oklahoma. Robert Patel and Sonny Patel serve as owners of the hotel. The 99-room hotel is conveniently located two miles south of Woodland Hills Mall and close to upscale shopping and dining. Local businesses in the adjacent area include Kimberly Clark, Hillcrest Hospital South, St. Francis Hospital South, Cancer Treatment Centers of America, Rhema Bible College and more. "We are excited to expand our portfolio in the Oklahoma marke...
Wharf Hotels and Duetto Announce Revenue Strategy Partnership
Wharf Hotels | December 21, 2017
Hotelier Adopts Scalable Technology Powered by Open Pricing Hong Kong, 21 December, 2017 — Wharf Hotels, a leading hotel management company based in Hong Kong comprised of 16 properties operating as Niccolo Hotels and Marco Polo Hotels, has partnered with Duetto, hospitality's only Revenue Strategy Platform, expanding its presence in Asia-Pacific. Wharf Hotels will implement Duetto's Open Pricing application, GameChanger, at several of its owned and managed hotels in Hong Kong, China and the Philippines. "As a high-growth company that recognizes the importance of innovation in Revenue Strategy and hotel technology, Wharf Hotels is...
NOVUM Hospitality Acquires Conference Hotel in Frankfurt-Niederrad to Become Crowne Plaza Frankfurt Congress Hotel
NOVUM Hospitality | December 20, 2017
NOVUM Hospitality has concluded its latest mega-deal, acquiring a conference hotel in Frankfurt-Niederrad at the start of 2018. Following a short refresh, which will take place during normal operations, the 4-star conference hotel with 396 rooms and 14 event spaces will, on the basis of a franchise agreement with IHG® (InterContinental Hotels Group), in future be run as Crowne Plaza Frankfurt Congress Hotel. "On the basis of our productive and well-established partnership with IHG®, we are looking forward to running this 'big box' hotel, which is in a strategic location between Frankfurt airport and the city centre,...
Hospitality Financial Leadership – A White Paper on a 6-Month Client Workshop/Coaching Engagement – Part 2
David Lund | December 19, 2017
The following is an overview of a six-month financial leadership project that I recently completed at a full-service hotel. The project consisted of six half-day hospitality financial leadership workshops delivered in-house and monthly 1-1 leadership coaching appointments with the 15 managers assigned to the program. Each month of the project we completed a group workshop and each manager had a coaching meeting with me. The project goal had five measurable elements: Complete Forecasts—get the managers and leaders of this hotel to complete their monthly departmental financial forecasts. Track their results throughout the month. ...
Conrad Fort Lauderdale Beach Celebrates Grand Opening with Ribbon Cutting Ceremony in Florida
Conrad Fort Lauderdale Beach | December 19, 2017
FORT LAUDERDALE, Fla. (Dec. 19, 2017) — Signifying a resurgence of luxury tourism in Fort Lauderdale, Conrad Fort Lauderdale Beach officially debuted today with a grand opening ribbon cutting ceremony followed by an inspiring twist on a champagne cheers, celebratory soiree with cocktails and gourmet bites crafted by Executive Chef Jorge Ramos. Guests in attendance included Chintan Dadhich, General Manager; Joe Berger, Executive Vice President & President, Americas for Hilton; John Vanderslice, Global Head of Luxury & Lifestyle Brands for Hilton; Pierre Heafey, Founder, Chairman and President of Heafey Group; Jose Luis Zapa...
Palladium Hotel Group Implements Duetto to Drive Revenue Strategy in Spain
Duetto | December 19, 2017
Palladium Hotel Group Adopts Duetto's Open Pricing and Group Optimization Applications to Grow Business in Ibiza and Tenerife Ibiza, Spain, 19 December, 2017 — Duetto, hospitality's only Revenue Strategy Platform, has partnered with Palladium Hotel Group in Ibiza, Spain, and implemented its GameChanger application to eight Palladium properties on the island, including its Hard Rock Hotel Ibiza and Ushuaïa Ibiza Beach Hotel, as well as the Hard Rock Hotel Tenerife in the Canary Islands. Palladium properties are now also using Duetto's BlockBuster application for optimizing contracted and group business. The Spain-based hotel c...
Hilton Appoints Kellyn Smith Kenny as Chief Marketing Officer
Hilton | December 14, 2017
MCLEAN, Va. - Hilton (NYSE: HLT) today announced the appointment of Kellyn Smith Kenny as Senior Vice President and Chief Marketing Officer. Effective January 29, 2018, Kenny will oversee the enterprise marketing strategy for the world's most recognizable hospitality company and its portfolio of 14 industry-leading brands. She will also lead a high-performing team delivering creative marketing programs focusing on building meaningful relationships with guests. "The iconic Hilton brand is already recognized globally as the gold standard for hospitality," said Jon Witter, Chief Customer Officer. "With Kellyn as our new ...
