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 Toronto Entrepreneur 20X Contestants Announced
HITEC | May 22, 2017
HFTP selected 13 hospitality technology startups to compete in the second E20X of 2017 Hospitality Financial and Technology Professionals (HFTP®), producer of the Hospitality Industry Technology Exposition and Conference (HITEC®), is pleased to announce the selected hospitality technology startups that will be participating in the Toronto version of Entrepreneur 20X (E20X). All registered HITEC attendees and exhibitors, including Exhibits Only registrants, are welcome to attend the action-packed pitch competition that will take place on Monday, June 26 from 1:00 to 4:00 p.m. at HITEC Toronto – the world's largest and o...
HFTP International Hospitality Technology Hall of Fame 2017 Inductees Announced
HITEC | May 22, 2017
Greg Dawes and Monika Nerger will be inducted into the Hall of Fame at HITEC Toronto Hospitality Financial and Technology Professionals (HFTP®) is pleased to announce that Greg Dawes and Monika Nerger will be inducted into the HFTP International Hospitality Technology Hall of Fame at the 45th Annual Hospitality Industry Technology Exposition and Conference (HITEC®) in Toronto, Ontario Canada next month. Both were recognized for their generous knowledge-sharing, using their expertise to collaborate with industry professionals outside their organizations to further advance industry practices and move hospitality technology forward...
Marriott Takes Top Spot for Franchise Companies with Most Rooms in Construction Pipeline Trend Report
Lodging Econometrics | May 19, 2017
May 19, 2017 – PORTSMOUTH, NH – According to the recent Construction Pipeline Trend Report from Lodging Econometrics (LE), the franchise companies with the largest pipelines by rooms in Q117 are; Marriott with 163,063 Rooms/1,264 Projects, Hilton with 146,104 Rooms/1,279 Projects and IHG with 82,771 Rooms/795 Projects. These 3 franchise companies comprise 65% of all rooms in the Total Pipeline. The largest brand for each of these companies are; Marriott's Fairfield Inn with 27,220 Rooms/285 Projects, Hilton's Home2 Suites with 36,074 Rooms/344 Projects and IHG's Holiday Inn Express with 38,160 Rooms/412 Projects. The franchi...
Hotel News PR Delivers News Releases Directly to Hotel and Travel Media, Influencers, and Top News Sites
Hotel News PR | May 17, 2017
Through preferred partnerships and relationships, centralized online portal helps marketers get their content syndicated to journalists and industry insiders looking for the latest happenings in travel and hospitality TORONTO, CA – (May 17, 2017) Today is the official launch of Hotel News PR, the first-of-its-kind press release distribution service dedicated exclusively to helping brands get their news delivered to thousands of media contacts and industry insiders in the hotel and travel industry. Through engagements with PR Newswire, media monitoring platforms, and leading online outlets, Hotel News PR offers a turnkey way for ho...
EB-5 Extended Without Change: President Donald Trump Signs Bill
Jim Butler | May 17, 2017
By Jim Butler EB-5 extended through September 30 Just after noon on Friday, May 5, 2017, President Donald Trump signed the Consolidated Appropriations Act, 2017. The new law approves $1.1 trillion in Federal appropriations through September 30, 2017. One of the provisions of the bill extends the EB-5 Regional Center program without change through the same date. Although the Consolidated Appropriations Act did not change any provisions of the EB-5 program, we expect further Congressional and regulatory efforts in the very near future. As we said yesterday, Industry leaders view this extension of the program as the necessary threshold t...
New York Has the Most New Hotel Openings Forecasted for 2017 & Marriott Has Largest Construction Pipeline
Lodging Econometrics | May 17, 2017
May 17, 2017 – PORTSMOUTH, NH – Analysts at Lodging Econometrics (LE) report that the five markets with the largest hotel construction pipelines by project count are: New York with 185 Projects/29,447 Rooms; Houston with 158 Projects/17,475 Rooms; Dallas with 141 Projects/17,869 Rooms; Nashville with 124 Projects/15,614 Rooms; and Los Angeles with 111 Projects/17,701 Rooms. New York has the most New Hotel Openings forecasted for 2017 of any market with 47 Hotels/7,534 Rooms. Then Dallas, which is forecasted to open 44 Hotels/5,050 Rooms, Houston with 33 Hotels/3,505 Rooms, Austin with 21 Hotels/2,321 Rooms and Los Angeles wi...
Hospitality Financial Leadership – Welcoming Imperfection
David Lund | May 17, 2017
By David Lund To maximize your effectiveness with your leadership team around the money you would be well advised to accept the fact that it's an endless exercise. We must see that the idea of mastering the numbers is elusive. This imperfect reality is comforting and seeing the challenge we have as just another endless mountain to climb is very healthy. It's critical to always remember when we do a budget or forecast for our hotel or our department that the only thing we know for certain is it's wrong. Yes, wrong, it will never be right. Why then do we go through such an exercise if we know it's wrong? The answer is obvious; we ...
Courtyard and Residence Inn by Marriott Sandestin at Grand Boulevard Earns Awards of Excellence
Howard Hospitality | May 16, 2017
Howard Hospitality, a Miramar Beach-based hotel management company, today announced that its hotels received three awards for excellence in operations from Marriott International for the Courtyard and Residence Inn by Marriott Sandestin at Grand Boulevard. At the April 2017 Marriott Select Service Conference in New Orleans, the Residence Inn by Marriott Sandestin won a Silver Hotel Award and the Courtyard by Marriott Sandestin earned a Platinum Hotel Award and the Quality of Food Satisfaction Award. Both hotels were also awarded the 2016 TripAdvisor "Certificate of Excellence" - an achievement solely based on guest reviews. "These award...
Concord Hospitality Begins Construction on the 160-room Hyatt Place Jacksonville with Opening Schedule for Late 2018
Concord Hospitality Enterprises Company | May 11, 2017
JACKSONVILLE, Fla.--Concord Hospitality announced today that construction has started on Hyatt Place Jacksonville. Located across the street from St. Johns Town Center, the 160-room hotel is scheduled to open in late 2018. The property will be located at The Strand at St. Johns Town Center, a new 45-acre, mixed-use development with retail, restaurants and apartment homes. Hyatt Place Jacksonville will feature a five-story design with 160 guest rooms; the Gallery, complete with 3,000 square feet of flexible meeting space; an outdoor pool and fitness center; and an outdoor deck for social and private events. "As the area continues to grow...
United States Construction Pipeline Continues Moderate Growth with Hotel Projects Up 13 Percent YOY
Lodging Econometrics | May 11, 2017
May 11, 2017 – PORTSMOUTH, NH – Lodging Econometrics (LE) reports that the Q117 United States Construction Pipeline currently stands at 5,032 Projects/602,034 Rooms, up 13% by projects Year-Over-Year (YOY). There are 1,511 Projects/197,450 Rooms Under Construction, up by 155 projects YOY or 11%. Projects Scheduled to Start in the Next 12 Months, at 2,414 Projects/272,487 Rooms, were up 367 projects, 18%. Projects in Early Planning at 1,107 Projects/132,097 Rooms were up by 39 projects or 4%. This is the 21st consecutive quarter of growth, but the Pipeline is still a distant 851 Projects/183,513 Rooms away from the Q208 peak ...
IHG and Pro-invest to Bring Holiday Inn Express to the Heart of Melbourne with 2020 Opening of Holiday Inn Express Melbourne Little Collins
IHG | May 10, 2017
The Holiday Inn Express brand takes another leap forward in Australia today, with IHG® and partner Pro-invest announcing plans to open Holiday Inn Express Melbourne Little Collins in 2020. The select service hotel will add 299 rooms to Melbourne's boutique Little Collins Street. Running parallel to prominent and iconic Collins Street, the area is home to major retailers, boutique designers and corporate offices, as well as being a stone's throw from Southern Cross station and tram stops, making it perfect for business and leisure travellers alike. Ron Barrott, Chief Executive Officer at Pro-invest Group: commented, "We've been thril...
Purchase Price Allocations for Hospitality Assets
Tim Sauer | May 10, 2017
By Tim Sauer I recently attended a presentation where the presenter used a hamburger as an analogy for a cost-segregation study. While most people just see a hamburger, he sees a beef patty, lettuce, tomato, cheese, and a bun. That is to say, he doesn't see a single piece of real estate, but numerous smaller assets that comprise the larger asset. The same can be said of a purchase price allocation (PPA). Introduction to Purchase Price Allocations As the name implies, the objective of a purchase price allocation is to allocate the purchase price of an asset to its component parts. Unlike a cost-segregation study, which allocates cost for...
Avison Young Hospitality Group Announces Recent Closings
Avison Young | May 10, 2017
ATLANTA – May 10, 2017 – The Avison Young Hospitality Group announced today that it has brokered the transaction of a full service Crown Plaza in North Charleston, South Carolina and a full service hotel in the Upper Midwest. Chris Stark, Michael Bernath, Rick George and Mike George represented Avison Young in both deals. The Avison Young Hospitality Group currently has 17 additional hotel transactions scheduled to close in the next five weeks and a total of 43 over the next several months. The planned closings are located across all U.S. regions and include most major hospitality brand families. "These last two closings rep...
The Rainmaker Group Maintains Leadership Position in Hospitality Pricing Optimization and Intelligence Sector with Record Setting Growth in Q1 2017
Rainmaker | May 10, 2017
Leading provider of revenue management and profit optimization solutions platform for the hospitality industry experiences record setting increases in first quarter ALPHARETTA, GA – May 10, 2017 – The Rainmaker Group (Rainmaker), the industry leader in profit optimization and intelligence solutions for the gaming and hospitality market, today announced record setting growth during the first quarter of 2017, welcoming more than 200 additional properties to its rapidly expanding global client base. In addition to growing the number of users for its comprehensive platform of pricing optimization and intelligence solutions, man...
Duetto Provides Revenue Strategy Solutions for Live! Casino & Hotel Maryland
Duetto | May 9, 2017
GameChanger Brings Cloud-Based Open Pricing, Loyalty Pricing and Business Mix Optimization to More Than 500 Rooms at Integrated Casino Resort New York, May 9, 2017 – Duetto, the market leader in hotel profit optimization technology, announced today that it is implementing its cloud-based Revenue Strategy solutions for Live! Casino & Hotel Maryland. Under the agreement, Duetto will provide the benefits of Open Pricing, loyalty pricing and business mix optimization for the company's 250-room boutique Live! Lofts property, and for the flagship Live! Hotel, scheduled to open in the first quarter of 2018. Duetto's GameChanger appli...
The CMO Survey February 2017: Rethink Everything
Deloitte | May 8, 2017
Marketing's role has changed. And it's likely to keep changing. How are marketing leaders navigating the disruption? Many marketing organizations were built for activities that look very different from those required in today's fast-paced, digital world. So marketing leaders are changing the game, building key capabilities in-house and rethinking what is outsourced to match new demands and harness new opportunities. Gain insights from the key findings below, interact with the survey data, and view the full results. Key findings: Marketers are planning huge spending increases: 90 percent increase for social, 127 percent for mobile...
IHG Reports Q1 2017 Global Comparable RevPAR Increased 2.7%; Enhanced Global Scale 3.4% by Opening 7K Rooms
IHG | May 5, 2017
Global Q1 comparable RevPAR1 up 2.7% Enhanced global scale: 7k rooms opened, increasing net system size 3.4% YoY to 767k rooms Building future growth: 14k rooms (112 hotels) signed; pipeline of 232k rooms Richard Solomons, Chief Executive of InterContinental Hotels Group PLC, said: "We have made a good start to 2017, with 3.4% net system size growth year-on-year and 2.7% RevPAR growth driven by increases in both rate and occupancy, and benefitting from the later timing of Easter. We continued our focus on building and leveraging scale in our priority markets, opening 49 hotels in the quarter, including our 300th for Greater China, ...
Richard Solomons, IHG’s Chief Executive Officer to Retire and to be Succeeded by Keith Barr, Chief Commercial Officer
IHG | May 5, 2017
Richard will step down as CEO on 30 June and retire from IHG on 30 August. He will be succeeded by Keith Barr, a member of IHG's Executive Committee who has spent nearly 17 years with IHG, most recently as Chief Commercial Officer (CCO). Keith will take up his new position and become a member of IHG's Board on 1st July 2017. Richard joined the group 25 years ago and has been on the IHG Board for 14 years, including the last six as CEO. He has led IHG's strategy and played an integral role in IHG's successes since its demerger from Six Continents plc in 2003. As a Board Director and CEO, he has led the growth of IHG's footprint around th...
The Plasencia Group Closes Sale of DoubleTree by Hilton Salt Lake City Airport Hotel
The Plasencia Group | May 4, 2017
Tampa, Fla. (May 4, 2017) – The Plasencia Group is pleased to announce the sale of the DoubleTree by Hilton Salt Lake City Airport hotel, located in Salt Lake City, Utah. The firm represented the owner of the hotel, SLC Hotel Partners, LLC, an affiliate of Laurus Corp., a real estate investment and development company, in the sale of the 288-guestroom hotel to ASAP Holdings, a global investment management company. "As the preeminent full service lodging asset in the Salt Lake City Airport district, the DoubleTree has performed exceptionally well since its recent renovations," commented Joe Corcoran, Vice President of The Plasenci...
Paramount Lodging Advisors Team Sells the Comfort Suites in Lafayette, IN
Paramount Lodging Advisors | May 3, 2017
LAFAYETTE, IN -- Paramount Lodging Advisors (PLA) has successfully represented the seller in the transaction of the Comfort Suites in Lafayette, IN. Managing Director Brent Clemens and associates Hussain Waseem and Mike Schlictman were the designated agents representing the seller in this transaction. The 62-room property was sold on Ten-X, marking the 113th successful transaction on the platform. "We are proud to have executed this deal for our client. This transaction furthers our ties in Indiana as we build on our history of success here in the Midwest. Ten-X continues to be a strong platform to help achieve our clients' goals for th...
Deloitte Perspectives: Restoring Balance and Protecting Value: Leveraging the Franchise Lifecycle Model
Rebecca Chasen | May 3, 2017
The traditional franchisor-franchisee relationship is evolving in response to a riskier legal and regulatory environment. So how can franchisors prepare for this new reality? An evolving relationship The franchisor-franchisee relationship is a model most people understand, and it has historically led to mutually beneficial success. The franchisor owns the brand and related intangibles such as recipes, processes, and technology. It sets the standards, provides support services, and takes a fee in return. The franchisee owns and operates the assets, employs the staff, puts in the hours, and earns a return as an entrepreneur. But this trad...
IHG and Graves Hospitality Reach Construction Milestone at InterContinental Hotel Coming to Minneapolis-St. Paul International Airport
IHG | May 2, 2017
291-room hotel will connect directly to MSP Airport's Lindbergh Terminal via enclosed sky bridge InterContinental Hotels Group (IHG), one of the world's leading hotel companies, today announces a milestone in the construction of a new InterContinental® Hotels & Resorts property at the Minneapolis-St. Paul Airport. The project, made possible by a partnership led by Graves Hospitality and Intercontinental Real Estate Corporation, a Boston-based real estate investment firm, broke ground in October 2016, and the concrete foundation was recently completed. The hotel is on track to open summer of 2018. Joel Eisemann, Chief Develop...
The Paper Can’t Talk – “Give the Money the Proper Voice”
David Lund | May 1, 2017
By David Lund In the hotel business, we have three equal pillars. The guest, the colleague and the money. We need to realize that the 3rd pillar, the money, the owner, the P&L, the paperwork, whatever you want to call it, it needs a proper voice. The right voice, a voice that speaks to the leadership and the highest purpose that a corner stone of our business warrants. Far too often the voice of the money is scary stingy or down right mean. If the paper is going to have a voice we want to ensure it's the proper one. The voice that will get and give equity with all of our constituents. You're probably thinking that the director of fi...
Hotel Equities Chosen to Manage 107-Room Home2 Suites in Carbondale, Illinois
Hotel Equities | April 28, 2017
Atlanta – April 28, 2017 – Atlanta-based Hotel Equities (HE) has been selected to manage the 107-room Home2 Suites by Hilton hotel in Carbondale, Illinois. Starting immediately, Hotel Equities will partner in a supportive role to help manage the final construction and development phase of the property. The firm will begin hotel operations during the pre-opening stage with scheduled opening expected to be in August 2017. Hotel Equities continues its growth strategy in the mid-west with its first hotel in the state of Illinois. The HE portfolio now numbers over 100 hotels coast to coast. "We are extremely excited to partner wi...
