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
Why June 2018 Will Be Good for Hotels and July 2018 Will Be Horrible
Tucker Johnson | September 20, 2017
By Tucker Johnson I recently conducted an educational seminar for some industry managers covering P&Ls and Budgeting. As part of the session I had them take some day-by-day hotel numbers from June of 2017 and forecast what June of 2018 would look like. I told them the industry was expecting a three percent increase for the next year. The hotel was busy on the weekends and slower during the weekdays. All of the participants forecasted exactly three percent above the June 2017 total for June 2018. I told them that when forecasting, "There are no right numbers, but there are wrong numbers. And all of you are wrong." They didn't know wh...
Ranking Hotel REITS 2017: Dividends, EBITDA & Overhead
Hans Detlefsen | September 19, 2017
Which Hotel REITs Generate the Highest EBITDA Margins and Pass Along the Most Money to Investors? By Hans Detlefsen and Matthew Glodz Hotel Appraisers & Advisors (HA&A) is pleased to announce our second annual ranking of hotel real estate investment trusts (REITs). HA&A currently monitors 16 hotel REITs, discussed throughout this report. Some hotel REITs are more effective than others at generating earnings and passing profits on to investors. In this year's report, we rank each of these hotel REITs according to three metrics: (1) dividend yields; (2) EBITDA margins; and (3) overhead expenses. Our 2017 rankings are based on...
Sonnenblick-Eichner Company Arranges $135,780,000 of Financing for a Portfolio of Cooper Hotels
Sonnenblick-Eichner Company | September 19, 2017
Beverly Hills, California, September 19, 2017 - Sonnenblick-Eichner Company announced today that it has arranged $135,780,000 of non-recourse, first mortgage financing for 11 of Memphis-based Cooper Hotels' properties totaling 2,037 rooms. The hotels include full service, select service, extended stay and limited service hotels located in Florida, Michigan, and Tennessee, all branded by Hilton. The 5-year floating rate loan was underwritten to a 70% loan-to-value and pays on an interest-only basis for the entire term. The portfolio includes the following properties: Hilton Naples, Naples, Florida Hilton Orlando/Altamonte Springs, Alt...
Duetto Announces Revenue Strategy Partnership with Jamaica’s Half Moon
Duetto | September 19, 2017
Agreement to Deploy Multiple Applications Builds Momentum in Caribbean Luxury Market Montego Bay, Jamaica, 19 September, 2017 — Duetto, the hospitality industry's leader in Revenue Strategy technology, has spread its cloud-based solutions to a key property in the Caribbean, signing an agreement with Jamaica's leading luxury resort, Half Moon. "Half Moon is one of the very best resorts the Caribbean has to offer, and we're incredibly proud and excited to partner with this property," said Patrick Bosworth, Co-Founder and CEO of San Francisco-based Duetto. "We are confident that Duetto's data-driven approach to Revenue Strategy and i...
Hotel Construction Pipeline in the Middle East Is Growing with Projects Up 13% YOY
Lodging Econometrics | September 18, 2017
September 18, 2017 – PORTSMOUTH, NH – Analysts at Lodging Econometrics (LE) report that the Construction Pipeline Trend Report for the Middle East states that the Total Pipeline has 561 Projects/154,627 Rooms, up 13% by projects Year-Over-Year (YOY). There are 339 Projects/98,653 Rooms Under Construction, up 20% by projects YOY. Those Scheduled to Start Construction in the Next 12 Months are at 125 Projects/32,116 Rooms, up 21%, while projects in Early Planning at 97 Projects/23,858 Rooms are down 12%. The top hotel companies in the Middle East's Construction Pipeline are: Marriott International 94 Projects/22,641 Rooms, Hil...
IHG Reveals Name of its New Midscale Brand, avid hotels, with First Property Expected to Open in 2019
IHG | September 18, 2017
IHG® (InterContinental Hotels Group) today revealed the name of its new high-quality midscale brand, avid™ hotels, alongside a brand logo and renderings of the hotel exterior, public space and guest rooms. First introduced to owners at the IHG Americas Conference in June, avid hotels is franchise ready beginning today, officially marking the start of licensing in the U.S. for this much-anticipated new brand. More than 150 owners have already expressed interest in the brand demonstrating the strong demand and great potential for avid hotels in this market segment. IHG expects the first avid hotels locations to begin constructio...
Avison Young Hospitality Group Announces Summer 2017 Closings
Avison Young | September 14, 2017
ATLANTA – September 14, 2017 – The Avison Young Hospitality Group announced today that it has brokered 25 hotels this summer that were located throughout the U.S. from New York City to San Francisco. Full-service hotels, select-service hotels, historic hotels, extended-stay hotels and all-suite hotels were all included in these sales. Pricing of the hotels ranged from $46 million to sub-$10 million and room counts ranged from 400-room full-service to 100-room select-service assets. The brokers involved in these closings spanned the entire practice group. "Today we have 231 hotels on the market priced from sub-$10 million to ...
The Europe Hotel Construction Pipeline Is up 25% With 1,186 Projects in the Total Pipeline
Lodging Econometrics | September 14, 2017
September 14, 2017 – PORTSMOUTH, NH – The Europe Hotel Construction Pipeline Trend Report states that the Total Pipeline has 1,186 Projects/185,799 Rooms, up 25% by projects Year-Over-Year (YOY) according to Lodging Econometrics (LE). There are 559 Projects/94,170 Rooms Under Construction, up 32% by projects YOY. Projects Scheduled to Start Construction in the Next 12 Months are at 401 Projects/58,646 Rooms, up 70%, while projects in Early Planning at 226 Projects/32,983 Rooms are down by 23%. The top hotel companies in Europe's Construction Pipeline are: AccorHotels with 201 Projects/24,593 Rooms, Hilton Worldwide with 166 ...
Hotel Equities Appoints Polly Ann Elliott as Area Director of Sales in Charleston, South Carolina
Fairfield Inn & Suites Charleston Airport / Convention Center | September 14, 2017
CHARLESTON, S.C., Sept. 14, 2017 -- Atlanta-based hospitality management group Hotel Equities recently named Polly Ann Elliott as the Area Director of Sales for its properties in Charleston, South Carolina, including the Fairfield Inn & Suites Charleston Airport / Convention Center. In addition to the conveniently located Charleston South Carolina airport hotel, Ms. Elliott now directs the sales teams at four other area hotels managed by Hotel Equities, including Sleep Inn Charleston North, Residence Inn Charleston North / Ashley Phosphate, Fairfield Inn & Suites Charleston North / Ashley Phosphate and Fairfield Inn & Suites...
PMS Software Evaluation Scorecard Ensures Hotels Can Find Their Ideal Property Management System
September 14, 2017
Hoteliers can use step-by-step quantitative assessment to determine their ideal PMS match with newly released easy-to-use scorecard and template Bethesda, MD (September 14, 2017) – Investing in the right property management system (PMS) will help increase hotel revenue, drive guest engagement, and boost staff efficiencies, but with many options available, what selection criteria should hoteliers use to make the right decision for their unique property? Knowing that not all hotel PMS solutions are created equal, StayNTouch® has released a comprehensive PMS Evaluation Scorecard designed to help hotel operators select the right P...
HFTP Hospitality DPO Task Force Outlines Objectives as Industry Prepares for New Data Projection Regulations May 2018 Deadline
HFTP | September 14, 2017
Task force comprised of 23 experts sets up a plan for hospitality-specific guideline and certification development for a Hospitality Data Protection Officer (HDPO) Preparing for the new EU General Data Protection Regulations (GDPR), a framework legislated by all EU member states with a required compliance date of May 25, 2018, Hospitality Financial and Technology Professionals (HFTP®) has taken the initiative to develop hospitality-specific guidelines and a certification for a Hospitality Data Protection Officer (HDPO). The building of these resources is underway by a team of 23 experts, recruited by HFTP to comprise the HFTP Hospit...
Hotel Equities Selected to Manage SpringHill Suites Houston Med Center/NRG Park
Hotel Equities | September 13, 2017
Atlanta, Sept. 13, 2017 -- Atlanta-based Hotel Equities has been selected to manage the 190-room SpringHill Suites by Marriott Houston Med Center/NRG Park hotel. With the addition, Hotel Equities now manages three hotels in metro Houston and 23 in Texas. Quyp Hospitality owns the hotel. "Our selection to manage a third hotel in metropolitan Houston confirms our ability to deliver outstanding results, exceptional profitability and stellar GSS scores to our owners," said Joe Reardon, SVP of Business Development and Marketing for Hotel Equities. "The property enjoys the benefits of a vibrant sub-market in Houston that includes the medical ...
Latin America’s Construction Pipeline Is Stalling
Lodging Econometrics | September 13, 2017
September 13, 2017 – PORTSMOUTH, NH – The total Construction Pipeline in Latin America has 878 Projects/146,312 Rooms, the exact same number of projects as last year. There are 418 Projects/72,690 Rooms Under Construction, up 4% by projects Year-Over-Year (YOY). Rooms Scheduled to Start Construction in the Next 12 Months are at 211 Projects/33,542 Rooms, up 22%, while those in Early Planning are at 249 Projects/40,080 Rooms, down 18%. The top hotel companies in Latin America's Construction Pipeline by projects are: AccorHotels with 150 Projects/22,136 Rooms, Marriott International with 94 Projects/14,880 Rooms and Hilton Wor...
Rainmaker President Tammy Farley to Present Revenue Generation Session at AAHOA’s 2017 Women Hoteliers Conference
Rainmaker | September 13, 2017
Founder of industry's leading provider of revenue and profit optimization software will offer expert insight to fellow female leaders ALPHARETTA, GA. — Sept. 13, 2017 — The Rainmaker Group (Rainmaker), the hotel revenue and profit optimization cloud, announces that its president and co-founder, Tammy Farley, will be a featured speaker at the 2017 AAHOA Women Hoteliers Conference, which will be held Sept. 15-16 at the Embassy Suites by Hilton Anaheim North in Anaheim, Calif. Hosted by the Asian American Hotel Owners Association (AAHOA), the event brings together female hoteliers and top executives from across the country for ...
2016/17 United States Hotel Franchise Fee Guide
Kasia M. Russell | September 12, 2017
By Kasia M. Russell and Bomie Kim The selection of an appropriate franchise affiliation affects a property's ability to compete in its local market, generate profits, and achieve a desirable image and market orientation. Because the success of a hotel is based primarily on the cash flow generated, owners and lenders must weigh the benefits of a brand affiliation against the total cost of such a commitment. Please note that the study results are not indicative of the impact an individual brand may have on a hotel's overall profitability because only the costs, and not the benefits of the franchise affiliations, have been analyzed. Furthe...
China’s Construction Pipeline Remains Strong Up 7% YOY with Shanghai Leading the Way
Lodging Econometrics | September 12, 2017
September 12, 2017 – PORTSMOUTH, NH – Analysts at Lodging Econometrics (LE) report that according to the recent China Construction Pipeline that the Total Pipeline has 2,410 Projects/525,225 Rooms, up 7% Year-Over-Year (YOY). There are 1,724 Projects/356,816 Rooms Under Construction, up 4% by projects YOY. Projects Scheduled to Start Construction in the Next 12 Months are at 324 Projects/74,225 Rooms, up 15%, while projects in Early Planning at 362 Projects/94,184 Rooms are up by 2%. The top hotel companies in China's Construction Pipeline are: Hilton Worldwide with 292 Projects/71,895 Rooms, Marriott International with 253 ...
Hospitality Financial Leadership – Global Hotel Revenue Management
David Lund | September 11, 2017
By David Lund Global is a big word and now that we have your attention I want to define global in a hotel setting. Global refers to all sources of revenue and their corresponding profit picture. A global perspective on revenue management yields the highest possible profit because we understand and apply a BIGGER view to our business. I think the title and buzz word that has our industry locked on "revenue management" is entirely the wrong way to look at it. It is not revenue we are after, it is profit. Revenue is where we start but it is always profit that we end up with. Understanding what happens to the room revenue and resulting prof...
Hotel Equities Names Greenberg Regional Director of Sales in Texas
Hotel Equities | September 8, 2017
ATLANTA, GA (September 8, 2017) – Atlanta-based Hotel Equities (HE) recently named Susan Greenberg as the Regional Director of Sales for a portfolio of the firm's hotels in Texas. She reports to Drew Salapka, Vice President of Sales & Revenue Generation. Responsible for all sales, marketing, public relations and market share growth for the firm's growing Texas portfolio, Ms. Greenberg directs the firm's sales teams to peak performance. "Susan is an award-winning professional who brings a wealth of experience and impeccable credentials in hotel sales and marketing to her new post," said Mr. Salapka. "She knows the Texas market ...
Extended-Stay Hotels Set for Substantial Growth According to U.S. Hotel Construction Pipeline
Lodging Econometrics | September 8, 2017
September 8, 2017 – PORTSMOUTH, NH – Through the first half of the year, there are 1,288 Projects/136,649 Rooms of extended-stay projects in the U.S. Hotel Construction Pipeline according to Lodging Econometrics (LE). 400 Projects/44,738 Rooms are Under Construction, and account for 26% of all projects Under Construction in the Total Pipeline. 643 Projects/68,242 Rooms will Start Construction in the Next 12 Months while an additional 245 Projects/23,669 Rooms are in Early Planning. Home2 Suites by Hilton currently has 343 Projects/35,845 Rooms of extended-stay projects in the Pipeline, the largest of any brand. The second la...
Hotel Occupancy Continues to Reach New Heights but Rate Not Keeping Pace
Leland Pillsbury | September 8, 2017
By Leland Pillsbury The U.S. hotel industry's ongoing run of monthly RevPAR increases and its recent record occupancy levels are obscuring a more unsettling trend, one that many hotel groups will be unable to overcome quickly when the hot streak ends and a downturn finally comes to lodging. Robust occupancy, especially in the major destination markets, does not fit with the slowdown in RevPAR growth and anemic ADR growth in the industry. Something is going wrong with hotels' pricing power, and hospitality companies are blaming several things, from increasing supply outpacing demand, to difficulties with online travel agencies and the ef...
EB-5 Finance Lawyer: President Trump’s Budget Deal Includes Extension of EB-5 Through 12-8-17
Jim Butler | September 8, 2017
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 08 September 2017 President Trump's budget deal with Congress includes extension of EB-5 through December 8, 2017. In a message to members of the Public Policy Committee today, the IIUSA confirmed the extension of the EB-5 regional center program as part of the budget deal struck yesterday by President Trump and Congressional leaders. IIUSA message on EB-5 extension The IIUSA is one of the leading EB-5 industry trade groups. Here is the text of the message from the IIUSA we received today: Dear IIUSA Public Policy Committee, As we are sur...
IHG Forms New Operating Region for Europe, Middle East, Asia & Africa Leading to Two Regional Chief Executive Officer Appointments
IHG | September 7, 2017
Kenneth Macpherson, currently IHG's CEO of Greater China, will lead the new EMEAA region, which will be created by bringing together two of IHG's current operating divisions: Europe; and Asia, Middle East & Africa. Taking over from Kenneth is Jolyon Bulley, who has been promoted to CEO, Greater China. These changes will take effect at the beginning of 2018. Kenneth, who currently has responsibility for the management, growth and profitability of the company's fastest growing region, joined IHG in April 2013 from Diageo - a company he had been with for almost 20 years. He has lived and worked in China since 2005 and during his career...
Upper Midscale and Upscale Are the Largest Chain Scales in the U.S. Construction Pipeline
Lodging Econometrics | September 7, 2017
September 7, 2017 – PORTSMOUTH, NH – Analysts at Lodging Econometrics (LE) report that the Upper Midscale category stands at 2,060 Projects/205,270 Rooms, and has the largest project count of all chain scales in the Total Construction Pipeline. The second largest is the Upscale category which has 1,258 Projects/162,609 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 426 Projects/39,393 Rooms, Hilton's Home2 Suites 343 Projects/35,845 Rooms and Hampton Inn with 322 ...
HFTP Helps 2017 to Support Medically-Sound Children’s Camp via Silent Auction Fundraiser
HFTP | September 7, 2017
Donations for the silent auction fundraiser are currently being accepted – HFTP will donate one hundred percent of the proceeds to the charity As part of its ongoing social responsibility efforts, international association Hospitality Financial and Technology Professionals (HFTP®) will host its third HFTP Helps silent auction fundraiser at its upcoming HFTP Annual Convention in ChampionsGate, Florida USA. Created to support the local communities that host HFTP's Annual Convention each October, the HFTP Helps 2017 fundraiser will benefit Camp Boggy Creek, a free, safe and medically-sound 232-acre camp that enriches the live...
