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
HITEC Dubai, Officially Endorsed by DTCM, Aims to Facilitate Tourism Vision 2020
HITEC Dubai | October 24, 2017
As part of Dubai's Tourism Vision 2020, approved by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Ruler of Dubai and UAE Vice President and Prime Minister, Dubai plans to attract 20 million visitors per year by 2020. Dubai is renowned for raising the bar and making the impossible happen. EXPO 2020 will bring a huge influx of international visitors into the UAE and the hospitality industry plays a vital role in securing Dubai's position as one of the world's premier tourism hubs. To help realize this vision, HITEC®, the world's largest hospitality technology exposition and conference brand is debuting in the Mid...
Hospitality Financial Leadership – Food Cost and the 80/20 Rule
David Lund | October 23, 2017
By David Lund We have all heard of the 80/20 rule. But I am willing to bet most of you have not heard it in conjunction with the words "food cost." A good friend of mine who was an executive chef explained it to me and I am going to share it with you. So first off, the 80/20 rule states that 80 percent of any result comes from 20 percent of the activity. In food cost, what Chef taught me is the 80 percent of the food cost comes from only 20 items. That's right—the top 20! What he explained was so simple and powerful. Identify the top 20 food items your hotel buys using the dollar value of those items. It takes a bit ...
Hospitality Funding, Inc. Arranged Funding for the Acquisition of the Comfort Suites Arlington, Texas
Hospitality Funding | October 23, 2017
Arlington, Texas – Hospitality Funding, Inc. arranged funding for the acquisition of the Comfort Suites Arlington, Texas. Waramaug LS Hotels LLC acquired the hotel in a joint venture with high net worth investors. When assessing the deal, Hospitality Funding and Waramaug Hospitality considered the following: The property is located near Six Flags Theme and Water Park, Rangers Ballpark, AT&T Stadium, Arlington Convention Center and more The property is a 108-room, all-suite hotel with high ceilings throughout that opened in 2009 The hotel's amenities include complimentary breakfast, a swimming pool, a fitness center, a busi...
Q3 2017 Financial Reports Round Up Part 1: IHG, AccorHotels, LaSalle
October 20, 2017
AccorHotels reports strong third quarter revenue increases, up 6.4%, and are confident of meeting full-year 2017 operating profit guidance at the upper end of the €460 million ($542.1 million) to €480 million ($566 million), as announced in July. InterContinental Hotels Group saw a 2.3% increase in revenue per available room; Globally opened 11K rooms, increasing net system size 4.1% YoY to 786K rooms; Future growth includes 20K rooms (137 hotels) signed; pipeline of 235K rooms LaSalle Hotel Properties saw a 79.6% decline in net income to $31.1 million primarily due to challenges as a result of resort closeures from hurricanes...
IHG Executes Four New Resort Signings in Southeast Asia that Includes Regions First Kimpton and New Market Entry for Hotel Indigo
IHG | October 20, 2017
IHG (InterContinental Hotels Group) one of the world's leading global hotel companies, today announced, at the 2017 Hotel Investment Conference Asia Pacific (HICAP), significant growth to its resort portfolio with the signing of four new properties, which includes the first Kimpton Hotels & Restaurants property in Southeast Asia. The four new resorts are: Kimpton Bali InterContinental Sapa Resort Holiday Inn Resort Sapa Hotel Indigo Phu Quoc Starbay Rajit Sukumaran, Chief Development Officer, Asia, Middle East and Africa (AMEA), IHG commented: "It's fantastic to be bringing new brands to new markets with new and existing partn...
Aimbridge Hospitality Opens New 109-Key TownePlace Suites by Marriott in Chandler, Arizona
TownePlace Suites by Marriott | October 19, 2017
Chandler, AZ – October 19, 2017 – Get ready to be real and be you on long stays. Marriott International's TownePlace Suites by Marriott Phoenix Chandler Fashion Center is now open for business. On average, a TownePlace Suites opens every six days. Built for travelers looking for a simple and friendly place where they can settle-in, keep their routine, and easily connect to the Chandler area. The new TownePlace Suites Phoenix Chandler Fashion Center located at 3635 West Chandler Boulevard, continues to exemplify the brand's rapid growth. The new hotel will operate as a Marriott franchise, owned by HCW Development LLC of B...
Owned by Kamba Hospitality and Managed by Witness Hospitality, New Home2 Suites Opens in Lafayette, Indiana
Home2 Suites by Hilton | October 19, 2017
October 19, 2017 LAFAYETTE, Ind. and MCLEAN, Va. - Home2 Suites by Hilton, part of Hilton's (NYSE: HLT) All Suites portfolio, announced today its newest property, Home2 Suites by Hilton Lafayette, bringing the brand one step closer to its 200th property milestone. Designed for travelers who want to maintain their normal routine, the hotel features 93 suites and a range of value, tech-focused and eco-conscious amenities. Home2 Suites by Hilton Lafayette caters to the 74 million travelers visiting Indiana annually.* "Whether you're in town for a college visit, sporting event or traveling for business, Home2 Suites by Hilton L...
Dynamic Group Opens New 88-Suite TownePlace Suites by Marriott in Cleveland, Tennessee
TownePlace Suites by Marriott | October 19, 2017
Cleveland, TN – October 19, 2017 – Get ready to be real and be you on long stays. Marriott International's TownePlace Suites by Marriott Cleveland opened for business on Monday, October 16, 2017. On average, a TownePlace Suites opens every six days. Built for travelers looking for a simple and friendly place where they can settle-in, keep their routine, and easily connect to the Cleveland area. The new hotel located at 160 Bernham Drive, continues to exemplify the brand's rapid growth. The new hotel will operate as a Marriott franchise, owned and managed by Dynamic Group of Chattanooga, Tennessee. "We are excited to intr...
Owned and Managed by SS Hoteis Eireli-ME, 209-Room Holiday Inn Goiânia Opens in Brazil
October 19, 2017
IHG, (InterContinental Hotels Group) one of the world's leading hotel companies, today announces the opening of the new-build 209-room Holiday Inn® Goiânia hotel. This is IHG's eighth Holiday Inn property in Brazil and the first IHG hotel in the Midwestern city of Goiânia, located about 130 miles from Brasilia, the nation's capital. The new hotel is centrally situated near the city's main thoroughfares and is in walking distance to the 'Feira do Sol' and 'Feira da Lua', banks, the Bougainville Shopping mall and local parks. Gerardo Murray, Regional Vice President of Brands & Marketing, Mexico, Latin A...
Premier Capital Associates Secures Refinance for Quality Inn and Suites in Sequim, WA
Premier Capital Associates | October 19, 2017
BELLEVUE, Wash., October 19, 2017 – Premier Capital Associates, LLC, a national, full-service real estate investment company specializing in debt and advisory services for hospitality real estate, announced today that they secured refinancing for the Quality Inn and Suites at Olympic National Park in Sequim, WA. The total loan amount was approximately $4,600,000. "Giving our clients the financial agility that comes from making use of available equity is the most rewarding part of our relationships. For the Quality Inn and Suites at in Sequim, that meant working closely with our funding sources to get the property the cash they wan...
IHG Signs Three Management Contracts to Introduce Kimpton Hotels & Restaurants to Asia
Kimpton Hotels & Restaurants | October 18, 2017
ATLANTA, Oct. 18, 2017 -- InterContinental Hotels Group (IHG®), one of the world's leading hotel companies, today signed three management contracts to introduce its luxury boutique hotel brand, Kimpton Hotels & Restaurants, to Asia. The first Kimpton properties in the region will be located in prime markets in Southeast Asia and Greater China, further solidifying Kimpton's appeal to global audiences. Elie Maalouf, CEO of InterContinental Hotels Group, The Americas said: "Our Kimpton Hotels & Restaurants brand is iconic for its unconventional approach to boutique hospitality and we're thrilled to introduce it...
Hospitality Financial Leadership – “Systems”, Don’t Change The People – Change the System
David Lund | October 16, 2017
By David Lund Every system is perfect for the results it creates. The flip side of this is: Don't change or make the people wrong—it is the system that's wrong and the system needs to be changed. Then we will get another result. Keep working the system five percent at a time. Always be re-programming your system, i.e., what version of Windows are we on? We tend to look at the chaos at work and in our own lives and we want to blame someone or something for it. It is the victim crying out that we have been unjustly punished and sentenced to suffer in the mess we are in. We need to rise above this and look at the system we use; see t...
Concord Hospitality Reveals First Look of Canopy by Hilton’s North American Debut in Washington, D.C.
Canopy by Hilton | October 16, 2017
WASHINGTON, D.C. and MCLEAN, Va. – October 16, 2017 – Today, Canopy by Hilton, Hilton's (NYSE: HLT) lifestyle hotel brand, Hoffman-Madison Waterfront and Concord Hospitality Enterprises revealed the first look inside the brand's first North American property, Canopy by Hilton Washington D.C., The Wharf. Set on the Potomac River, The Wharf is home to some of D.C.'s most anticipated new restaurants, year-round entertainment and waterfront accommodations. The property's 175 guestrooms and rooftop bar and lounge, Whiskey Charlie, are part of Hoffman-Madison Waterfront's $2.5 billion, world-class mixed-use waterfront neighborhood...
Unexpectedly Slow – Hoteliers Overestimated 2016 Performance
Robert Mandelbaum | October 16, 2017
By Robert Mandelbaum From 2010 through 2015, U.S. hotels enjoyed above long-run average revenue and profit growth. Over the six-year period, total operating revenue increased at a compound annual growth rate (CAGR) of 5.8 percent, while gross operating profits grew at a CAGR of 8.9 percent. Therefore, when U.S. hoteliers sat down in the fall of 2015 to prepare their budgets for 2016, it is no surprise that they believed the strong upward momentum in revenue and profit growth would continue. Unfortunately, 2016 was a disappointment. Revenue and profits increased, but not at the levels that were budgeted. Occupancy and average daily rate ...
NewcrestImage Opens Dual-Branded AC Hotel and Residence Inn by Marriott in Downtown Dallas Historic Mercantile Commerce Building
NewcrestImage | October 16, 2017
Downtown Dallas has its first dual-branded hotel with the opening this week by NewcrestImage of a 128-room AC Hotel by Marriott and a 121-room Residence Inn by Marriott. The property is the first AC Hotel in Texas and the first AC Hotel anywhere that brings together two Marriott brands. "We have dramatically renovated and given vibrant new life to the historic Mercantile Commerce Building, which originally opened in 1956 and has been vacant for 25 years," explained Mehul Patel, Chairman of NewcrestImage. "By moving from retired to relevant, this building will add significant momentum to the revitalization of downtown Dallas." The reimag...
LBA Hospitality Partners with Details Hotel Group to Manage Fairfield Inn & Suites Houston Pasadena
LBA Hospitality | October 16, 2017
DOTHAN, AL (OCTOBER 16, 2017) – LBA Hospitality, a full-scale hotel management, development and consulting firm, is pleased to announce management of the Fairfield Inn & Suites Houston Pasadena in Texas. The Marriott-branded hotel is owned by the Principals of Details Hotel Group and is now operated and managed by LBA Hospitality. With the addition of this property to the their portfolio, LBA Hospitality now manages over 70 properties throughout the southeast. While this relationship marks the first time LBA Hospitality and Details Hotel Group have collaborated, the Fairfield Inn & Suites Houston Pasadena is the 3rd hotel ...
Mövenpick Hotels & Resorts Joins TravelClick’s Market-Leading Demand360® Program
TravelClick | October 16, 2017
Demand360 Network of Global Data Providers Continues to Expand, Empowering More Hoteliers to Develop Strategies that Maximize Revenue NEW YORK – October 16, 2017 – TravelClick, a global provider of innovative, cloud-based and data-driven solutions for hotels to maximize revenue, today announced a partnership with Mövenpick Hotels & Resorts, which is represented in 24 countries with 83 hotels, resorts and Nile cruises in operation, to join TravelClick's Demand360® program, a Hotelligence360® solution. This partnership further expands the Demand360 network of global data providers, giving hoteliers access to e...
4 Ways to Win the Hearts and Contracts of Meeting Planners
Groups360 | October 13, 2017
Every group is different. Every meeting planner is unique. Every event comes with its own set of objectives, attendee patterns, and complications. Then, why does your hotel's group sales managers continue to sell the property the same way, over and over again, no matter the group? Here's the kicker: Meeting planners know they are being sold to. They see it when you insist on trekking them out to the golf course during a site inspection, even when golf isn't relevant to their group. They see it when you fail to ask them the right questions or give biased answers. They see it immediately in your cookie-cutter proposal. Instead of presenti...
CBRE Hotels Arranges Two Hotel Sales in San Diego
CBRE Group, Inc. | October 12, 2017
Comfort Suites San Diego-Miramar and Holiday Inn Express San Diego-Mira Mesa Sold Newport Beach, California – October 12, 2017 – CBRE Hotels has arranged the sale of the 132-room Comfort Suites San Diego-Miramar and the 75-room Holiday Inn Express San Diego-Mira Mesa for an undisclosed amount to Two Pack Hotel LP, an affiliate of Excel Hotel Group. Bob Kaplan, Rod Apodaca, and John Karver of CBRE Hotels acted as exclusive agents for the sellers, LLJ Ventures. The Comfort Suites and Holiday Inn Express are adjacent hotels on 3.72 acres in the Mira Mesa/Scripps Ranch area in the northeastern part of San Diego; conveniently loc...
Hotel Equities and F&F Break Ground on Staybridge Suites in Davie, Florida
Hotel Equities | October 12, 2017
Atlanta, GA and Davie, FL–October 12, 2017–Hotel Equities and F&F, LLC broke ground recently on a new-build Staybridge Suites by IHG at 4901 Griffin Road in Davie, Florida. Construction is underway for the hotel with completion expected in late 2018. Hotel Equities serves as the management company for the property. Amin and Ramzan Gulamali, Principals with F&F, LLC, the owners and developers of the hotel, welcomed special guests to the event. "We at F&F, LLC seek strategic partnerships that advance our mission to provide nothing less than excellent hospitality to our patrons," said Amin Gulamali, Principal with F...
M3 Unleashes New Mobile App to Increase Hoteliers’ Productivity
M3 | October 10, 2017
Budget and revenue data just a swipe away on both iOS and Android devices (GAINESVILLE, GA – 10/12/17) – It's a familiar story for hoteliers; there are simply not enough hours in the day to get all the work that needs to be done completed. To allow busy hotel owners and managers easier access to property financial data, at home and on the road, M3 has recently introduced its mobile app for both iOS and Android devices. The M3 mobile app enables hoteliers to securely access their data like never before, viewing real-time, mission-critical information like: Key Performance Indexes: Occupancy and ADR Rooms Rented Total Room...
Kingston Holdings International Limited & IHG Sign Management Agreement for New Holiday Inn and Suites in Dubai Business Bay
IHG | October 10, 2017
IHG (InterContinental Hotels Group), one of the world's leading hotel companies, has signed a management agreement with Kingston Holdings International Limited to develop a new Holiday Inn & Suites in Dubai Business Bay. The signing will complement IHG's hotel pipeline in the area, which includes a Hotel Indigo, Crowne Plaza and an InterContinental Residences, and anchor the company's position as one of the leading operators in the Business Bay area. Expected to open in 2021, Holiday Inn & Suites Dubai Business Bay will be centrally located in Dubai's commercial and lifestyle hub and in close proximity to major attractions such ...
Hotels Should Already be Planning Their 2018 Summer Marketing Campaign, According to Industry Experts
Magnuson Worldwide | October 10, 2017
London UK/Spokane WA - October 10, 2017 - High season might have just drawn to a close but hotels should already be planning their marketing campaign for 2018, hospitality expert Magnuson Worldwide says. In a highly competitive sector, independent hoteliers are often too busy focusing on other areas to really put the time and resources necessary into effective marketing strategies. But they have the power to transform a hotel and deliver greater success. The summer months bring a huge number of opportunities for boutique hotels looking to expand their current customer base, with many local areas playing host to events and festivals. How...
New Builds Signal Growing Strength of Independent Hotels, New Entrepreneurial Brands, as a Dozen Teneo Member Hotels Open 2017-2018
Teneo Hospitality Group | October 10, 2017
Construction Trends Span Independent Properties, Leading Brands, Major Markets, Second Tier Cities, Historic Restoration, Contemporary Design Eden Prairie, MN, October 2017 … New hotel construction in major markets and second tier cities is signaling the growing strength of independent hotels and smaller entrepreneurial brands. The new properties span urban hotels, resorts, historic restorations, and anchors of major redevelopment programs, emerging business districts and dynamic new sports and entertainment complexes. They are breaking new ground in the areas of sustainability, art and architecture, historic preservation, food a...
