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 – Testing vs. Trusting
David Lund | November 20, 2017
By David Lund "All of life is an experiment, the more experiments the better." ~ Ralph Waldo Emerson When you really want to do something, the "how to" shows up everywhere. Getting into and staying in action is the key. Having and holding onto the notion that we must have the answer first kills our endeavors. Let me give you an example. A client of mine hired me to help him grow his new real estate business. We did some sessions and something was revealed. He had a predisposed notion of how his business should grow. He was close to trying some new ways to grow his business. He had heard the stories of the other more established and succ...
Shifts In Revenue and Expenses Improve Hotel Food and Beverage Profits
Robert Mandelbaum | November 20, 2017
By Robert Mandelbaum Consumer dining trends tend to be more volatile than lodging trends. Recognizing this, hotel managers have made some significant changes in the way they offer food and beverage service to their guests. The traditional three-meal, all-purpose restaurants and room service are disappearing. Taking their place are self-service kiosks and grab-and-go concepts that provide quick-service for in-house guests. These changes help explain recent changes in hotel food and beverage department revenues, expenses, and profits. To understand recent trends in lodging food and beverage sales, we analyzed the financial performance of ...
HFTP Builds Educational Campaign Ahead of GDPR Compliance Requirements
HFTP | November 20, 2017
Hospitality-specific discussion covered in free-to-industry webinar on Monday, November 20 With just over six months until the new EU General Data Protection Regulations (GDPR) are in effect, Hospitality Financial and Technology Professionals (HFTP®) is ramping up its education campaign to prepare the hospitality industry for compliance. The association initiated this drive last spring with the formation of the HFTP Hospitality Data Protection Officer (DPO) Task Force, a team of 23 experts developing compliance guidelines and resources specific to hospitality, including defining the role of the hospitality DPO. As part of its initia...
Projects in Canada’s Construction Pipeline are Up 11% YOY
Lodging Econometrics | November 20, 2017
November 20, 2017 – PORTSMOUTH, NH – According to Lodging Econometrics (LE), the total Construction Pipeline in Canada currently has 228 Projects/30,875 Rooms, up 11% by projects Year-Over-Year (YOY). There are 80 Projects/11,076 Rooms Under Construction, up 13% by projects YOY. Projects Scheduled to Start Construction in the Next 12 Months are at 87 Projects/10,215 Rooms, up 26%, while those in Early Planning are at 61 Projects/9,584 Rooms, down 8%. The top hotel companies in Canada's Construction Pipeline by projects are: Marriott with 47 Projects/7,121 Rooms, InterContinental Hotels Group (IHG) with 35 Projects/3,644 Room...
Aptech’s PVNG Web-Based Enterprise Accounting Goes Live at 2 Hotel Companies
Aptech Computer Systems, Inc. | November 16, 2017
Multi-Property, Multi-Brand Operators Standardize Accounting on Easy-to-Use PVNG PITTSBURGH – November 16, 2017 – Aptech Computer Systems announced Milestone Hospitality Management and Bellstar Hotels & Resorts implemented the PVNG enterprise accounting system. PVNG is Aptech's next generation enterprise accounting hotel software solution that is deployed in the cloud. Aptech is the leading provider of hospitality enterprise accounting, budgeting and forecasting, and business intelligence hotel software systems. Click here for more on Aptech's products and services. "Milestone selected PVNG because Aptech is a hospitalit...
IHG Appoints Vivek Bhalla as the New Regional Vice President, South West Asia
IHG | November 15, 2017
Bangalore, 15 November 2017: InterContinental Hotels Group (IHG®), one of the world's leading hotel companies announced today the appointment of Vivek Bhalla as the Regional Vice President, South West Asia (SWA), effective from 1 January, 2018. Vivek succeeds Shantha de Silva who will progress his journey with IHG as Senior Director, New Hotels - Australasia and Japan. Vivek will be responsible for spearheading strategic growth for the company and operational performance of 31 hotels in South West Asia, across four brands: InterContinental®, Crowne Plaza®, Holiday Inn® and Holiday Inn Express®. He will also play an i...
HFTP Announces Global Industry Research Project by Forrester Group
HFTP | November 15, 2017
AUSTIN, TEXAS, USA (November 15, 2017) — The leaders of Hospitality Financial and Technology Professionals (HFTP®) used its inaugural HITEC Dubai to announce an extensive global research project today that will provide guidance on the state of the industry; provide existing industry stakeholders with additional resources, and enrich the association's understanding of financial and technology trends that will shape the industry's future. "HFTP has just celebrated its 65th anniversary as a not for profit association, and our leadership intends to offer this foundation and provide a platform for the industry to build...
New Openings Growing Steadily as the Cycle Matures
Lodging Econometrics | November 15, 2017
November 15, 2017 – PORTSMOUTH, NH – By the end of the third quarter, 701 Hotels/82,484 Rooms had already opened in the U.S. with another 278 Projects/29,532 Rooms forecast to open by year-end according to analysts at Lodging Econometrics (LE). The Total 2017 Forecast is 979 Projects/112,016 Rooms, representing a 12% increase over the actual number of Hotel Openings in 2016, which stood at 850 Hotels/99,881 Rooms. With slight increases in occupancy being recorded, new supply in 2017 should be easily absorbed. Demand growth, however modest, still continues to exceed supply growth. Almost half of the hotels expected to open t...
Rainmaker Ends Q3 2017 with High-Growth Momentum
Rainmaker | November 15, 2017
Company wraps up quarter with 30 percent growth in number of customers year-over-year ALPHARETTA, GA – Nov. 15, 2017 – The Rainmaker Group (Rainmaker), a leading provider of cloud-based hospitality revenue and profit optimization software, today announced that it ended the third quarter of 2017 with record-setting performance and growth, advancing its position as a global technology leader. Since July 1, Rainmaker has expanded its reach in both the number of customers and the number of properties using its groundbreaking solution suite, which include guestrev®, grouprev®, revcaster®, and revintel®. Year-over-...
IDeaS G3 RMS Gives New Revenue Opportunity to Resorts and Hotels with Component Room Optimization – an Industry First
IDeaS | November 14, 2017
Resorts and hotels with component rooms can now automate pricing decisions, reduce the burden of managing complex room types and tailor the guest experience Tweet this: @IDeaS_RevOpt #RevenueManagement system is first to allow hotels & resorts to automate component room pricing. www.ideas.com/about/news MINNEAPOLIS – November 14, 2017 – Though ubiquitous in resorts and hotels today, component rooms and flexible inventory are a tricky business for revenue managers. These unique rooms have traditionally required manual pricing and constant oversight – and are often undersold because of their complexity compared to s...
Hospitality Financial Leadership – Runnin’ Down a Dream
David Lund | November 13, 2017
By David Lund Yeah, runnin' down a dream - That never would come to me - Workin' on a mystery, goin' wherever it leads - Runnin' down a dream – Tom Petty In life we think dreams, big ideas and accomplishments are someone else's domain, but not ours. We think those people are special, gifted, magical. They were the ones who were chosen for that higher calling to be that explorer, the writer or the leader that made a difference and really had something special to do and share with the world. Well, that is not true. We all have that something and it is right there, inside of us and we can see it, feel it and we know i...
Hilton Launches Incubator to Fast-Track Guest Innovations
Hilton | November 13, 2017
With the Opening of New Innovation Gallery, Hilton Officially Joins "I-270" Tech Corridor MCLEAN, Va. - Hilton (NYSE: HLT) today announced the opening of its Innovation Gallery, a first-of-its-kind incubator and experiential showcase for cutting-edge product developments that will shape the future of Hilton hospitality. Open to invited guests including Hilton Team Members, hotel owners and technology partners, the 4,300-square-foot gallery brings together all elements of Hilton's innovation process. It is a physical space where conversations between thought leaders, design experts and hospitality professionals deliver new products a...
Upper Midscale and Upscale Are the Largest Chain Scales in the U.S. Construction Pipeline Comprising 67%
Lodging Econometrics | November 10, 2017
November 10, 2017 – PORTSMOUTH, NH – Analysts at Lodging Econometrics (LE) report that the Upper Midscale category stands at 2,066 Projects/205,330 Rooms, and has the largest project count of all chain scales in the Total U.S. Construction Pipeline. The second largest is the Upscale category which has 1,274 Projects/164,628 Rooms. Together, the Upper Midscale and Upscale Pipelines comprise 67% of all projects in the Total Pipeline. The brands with the largest number of projects in Upper Midscale are; IHG's Holiday Inn Express with 442 Projects/41,053 Rooms; Hilton's Home2 Suites 348 Projects/36,439 Rooms and Hampton Inn &...
HFTP and Naseba Set Final Details for Inaugural HITEC Dubai Event
HITEC Dubai | November 9, 2017
International association Hospitality Financial and Technology Professionals (HFTP®), in partnership with Naseba, are bringing the world's largest and oldest Hospitality Industry Technology Exposition and Conference(HITEC®) brand to Dubai, UAE for the first time. HITEC Dubai will take place from November 14-15, 2017 at the Conrad Dubai in Dubai, UAE – serving as the third HITEC of 2017. HITEC Dubai is accessible to buyers from the lucrative Middle Eastern tourism and hospitality market, currently worth over $75 billion USD. Modeling the HITEC Amsterdam format, the show will offer an education program, exhibits as well ...
OTO Development Unveils Plans for 219-Room AC Hotel by Marriott in Bethesda, Maryland
OTO Development | November 9, 2017
BETHESDA MD (NOVEMBER 9, 2017) -- A new AC Hotel by Marriott is coming to the heart of downtown Bethesda MD -- part of an ambitious mixed-use development and just a few short blocks away from Marriott International's future global headquarters. "It's always exciting to announce plans for a new project," says Corry Oakes, President/CEO of OTO Development, a Spartanburg SC-based Johnson Management company, "and that's especially true of our AC Hotel Bethesda. The brand is vibrant. The design is exceptional. And the proximity to Marriott's headquarters provides us an incredible opportunity to be the flagship ...
Marriott, Hilton and IHG Comprise 68% of All Projects in Total U.S. Construction Pipeline
Lodging Econometrics | November 9, 2017
November 9, 2017 – 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 1,298 Projects/166,419 Rooms, Hilton with 1,270 Projects/144,191 Rooms and IHG with 817 Projects/83,728 Rooms. These 3 franchise companies comprise 68% of all projects in the Total Pipeline. The largest brands for each of these companies are; Marriott's Fairfield Inn with 284 Projects/27,411 Rooms and Residence Inn with 189 Projects/23,605 Rooms; Hilton's Home2 Suites with 348 Projects/36,439 Rooms and Hampton In...
Puzzle Partner and HEDNA Join Forces to Deliver Quality Content for the Hotel Industry
Puzzle Partner | November 9, 2017
Agency offering marketing expertise for travel and hospitality technology market engaging with HEDNA to deliver and promote educational resources for HEDNA members and the hotel industry at large. TORONTO, ON (November 9, 2017) – Leading travel and hospitality technology marketing agency Puzzle Partner, today announced their latest alliance with HEDNA, a global forum dedicated to the advancement of hospitality distribution anchored by a fundamental belief in strategic collaboration and knowledge sharing. HEDNA is making bold moves to lead the category and is looking to Puzzle Partner to support their initiatives and help take the ...
Asset-Managing the 2018 Budget Story
Gary Isenberg | November 9, 2017
By Gary Isenberg As summer tumbles into fall, hotel asset managers grapple with the annual challenge of reviewing and approving budgets for their hotel or hotels. As they leaf through page after page of a budget submitted by management and cobbled together with input from all facets of hotel operations—from housekeeping and food and beverage to maintenance and marketing—asset managers ought to look beyond the spreadsheets and revenue projections to conclude whether they are reading a great story. In the case of a hotel budget, the tale being told is that of the asset's revenue goal for the coming year and how it will achieve...
HMB Management Opens Homewood Suites by Hilton Allentown Bethlehem Center Valley in Eastern Pennsylvania
Homewood Suites by Hilton | November 8, 2017
November 8, 2017 CENTER VALLEY, Pa. 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 Allentown Bethlehem Center Valley. Designed for guests who want to travel on their own terms, Homewood Suites by Hilton Allentown Bethlehem Center Valley offers guests all the comforts of home, whether they are traveling for work or enjoying a well-earned getaway. With 114 new suites, the hotel's opening complements rising tourism in Pennsylvania, where spending by tourists grew for the sixth straight year*. "Located a short distance...
Virginia Crossings Hotel & Conference Center Joins Tapestry Collection by Hilton Marking Brand’s Second Property
Tapestry Collection by Hilton | November 8, 2017
GLEN ALLEN, Va. and MCLEAN, Va. - Historic Virginia charm and colonial architecture make their debut today as part of Hilton's newest collection brand, Tapestry Collection by Hilton. Virginia Crossings Hotel & Conference Center becomes the second property to join the collection of independent upscale hotels each with a unique identity. "Virginia Crossings Hotel & Conference Center truly reflects our dedication to handpicking hotels that provide travelers the best of both worlds - original hotels with the world renowned hospitality of Hilton and our Hilton Honors program," said Mark Nogal, global head, Tapestry Coll...
Marriott Has the Largest Construction Pipeline of Any Franchise Company in the U.S.
Lodging Econometrics | November 8, 2017
November 8, 2017 – PORTSMOUTH, NH Marriott International, due in part to the acquisition of the Starwood brands, currently has the largest construction pipeline of any franchise company with 1,298 Projects/166,419 Rooms. Their largest brands in the Total Pipeline are: Fairfield Inn with 284 Projects/27,411 Rooms, Residence Inn with 189 Projects/23,605 Rooms and TownePlace Suites with 183 Projects/18,590 Rooms. Marriott has the most rooms currently Under Construction with 516 Projects/69,721 Rooms, which represents almost 1/3 of all Pipeline rooms Under Construction. Additionally, they have the most rooms Scheduled to Start Constru...
IDeaS Learning System Recognized With Gold Award From Learning & Development Research Firm Brandon Hall
Brandon Hall Group | November 8, 2017
Comprehensive update to integrated learning tools and seamless client delivery receives praise from Brandon Hall Group Tweet this: New #hotelrevenue mgmt training platform from @IDeaS_RevOpt gets Gold from @BrandonHallGrp www.ideas.com/news MINNEAPOLIS – Nov. 08, 2017 – The adoption of software tools and technologies for revenue management and hotel data analytics continues to grow within the hospitality segment, helping hoteliers uncover opportunities to grow revenue and improve the guest experience. But, these tools aren't effective without the skilled employees and managers who oversee and rely on them every day. That's w...
HFTP’s 2017–2018 Global Executive Committee and Board of Directors Begin Term
HFTP | November 7, 2017
The new HFTP Global Board was installed during the association's 2017 Annual Convention The 2017-2018 Global Executive Committee and Board of Directors for Hospitality Financial and Technology Professionals (HFTP®) have officially begun their term. The association leaders represent a wide variety of segments within the hospitality industry, including: clubs, consulting, hotels, finance, technology and more. The HFTP Global Board volunteers its time and professional expertise to help guide and progress the association to the forefront of the industry as it carries out its strategic plan. The HFTP Global Board is the primary decision-...
Sonnenblick-Eichner Company Arranges the Sale of the 153-Room Hampton Inn Southcenter Hotel in Seattle, WA
Sonnenblick-Eichner Company | November 7, 2017
Beverly Hills, CA, November 7, 2017 – Real estate investment banking firm Sonnenblick-Eichner Company arranged the sale of the 153-room Hampton Inn Southcenter in Seattle, WA in an all-cash transaction. The property was sold to a Pacific Northwest-based investor and represents the last property in a portfolio of hotels that were financed and sold by Sonnenblick-Eichner Company over a 20-year period for this client. The Hampton Inn Seattle Southcenter is located four miles east of Seattle-Tacoma International Airport. Due to its close proximity to several major corporations, the hotel benefits from numerous corporate accounts inclu...
