Minor Hotels to Debut in Singapore With Avani Hotels & Resorts Lifestyle Brand
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Brandt Hospitality Group Getting Great Results From Accounting Software Partner
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Finance & Development
IHG Signs with VHM Hotel Management to Develop Holiday Inn Warsaw West Station in Poland
IHG | March 8, 2017
• Hotel will feature an Open Lobby and new guest rooms, both features of the Holiday Inn® brand transformation • This is IHG's first venture with VHM Hotel Management and Capital Park InterContinental Hotels Group (IHG), one of the world's leading hotel companies, has today announced the signing of Holiday Inn® Warsaw West Station at the International Hotel Investment Forum (IHIF). The hotel will be developed with franchisees VHM Hotel Management, owned by the Satoria Group SA, and investors Capital Park. The hotel, which will add to Holiday Inn®'s growing presence in Poland, will also be IHG and VHM's first ventur...
The Rainmaker Group Introduces Group Forecasting to Enhance Revenue Management and Group Business Pricing Solutions
Rainmaker | March 8, 2017
Leading provider of hotel revenue and profit optimization solutions augments product suite with new tool designed to project future group business demand ALPHARETTA, GA – (March 8, 2017) – The Rainmaker Group (Rainmaker), the market leader in profit optimization solutions for the gaming and hospitality industry, today announces the official launch of a major enhancement to its grouprev® and guestrev® solutions, adding automated group forecasting capabilities to the platform. An industry first in revenue management, the addition of group forecasting to existing Rainmaker solutions provides the unique ability to projec...
IHG Signs Eight New Holiday Inn & Holiday Inn Express Hotels to the Brand Family in Germany
IHG | March 7, 2017
Announcement, made at the International Hotel Investment Forum (IHIF), follows the news that IHG achieved record signings in 2016 and now has more than 100 hotels either in the pipeline or in operation in the market InterContinental Hotels Group (IHG®), one of the world's leading hotel companies, has today announced the signing of eight new hotels within the Holiday Inn® brand family in Germany. The announcement comes as IHG has recently reported a strong year for the market, and three consecutive record years of signings, including 17 hotels in 2016. One of the key drivers of IHG's success in the region has been working with ...
Hospitality Financial Leadership – A “RelationShift”
David Lund | March 7, 2017
By David Lund That's right, your eyes and my fingers have not failed, I wrote the word on purpose "relationshift" and I got this word from my coach, Steve Chandler. He wrote a book with Michael Bassoff called relationshift and its about fundraising and fundamentally changing the relationship between fundraisers and donners. To sum it up in one sentence, the book is about fundraisers outgiving the donners and showing the donner that they make a difference, both the donner makes a difference and their money made a difference too. Creating financial leadership in your hotel has the same fundamental relation shift at its roots. The traditio...
Sonnenblick-Eichner Company Arranges $41,000,000 of First Mortgage Financing for Hotel Eastlund, Portland, Oregon
Sonnenblick-Eichner Company | March 7, 2017
Beverly Hills, California – March 7, 2017 – Sonnenblick-Eichner Company has arranged $41,000,000 of first mortgage financing for Hotel Eastlund located in Portland, Oregon. The financing was a non-recourse, 10-year fixed rate loan provided by an international money center bank. Elliot Eichner, Principal of Sonnenblick-Eichner Company commented, "The hotel recently completed an extensive renovation and rebranding and had limited operating history at the time of the closing of the new loan. By underwriting the most recent trailing 12-month cash flow, we were able to maximize loan proceeds. We were also successful in negotiatin...
Owned by LH Webster LLC and Managed by Lodgic Hospitality, New Tru by Hilton Hotel Coming to Houston Clear Lake
Lodgic Hospitality | March 7, 2017
Webster, TX - March 7, 2017: The Hilton hotel brand is expanding its presence in the Houston market. Construction of a 98-room, four-story, Tru by Hilton hotel is scheduled to begin this summer on Rodger Court in Webster, TX, just south of the Baybrook Mall, in the growing Clear Lake Area. The hotel is owned by LH Webster LLC and managed by Lodgic Hospitality. It is scheduled to open in summer 2018, and will join other Hilton branded hotels in Webster such as the Hampton Inn & Suites, Home2 Suites by Hilton, and Hilton Garden Inn. Those Hilton-branded properties are also operated by Lodgic Hospitality, a Houston area based company. ...
AccorHotels Enters Strategic JV Partnership with Rixos Hotels with Focus on Global Development in the Luxury Resort Segment
AccorHotels | March 6, 2017
AccorHotels and Rixos Hotels announce today a strategic partnership illustrating AccorHotels' strategy to expand its presence in the Upper Upscale/Luxury market, with a primary focus on developing global activities in the resort segment. Under a long-term joint venture, both parties intend to collaborate, develop and manage Rixos branded resorts & hotels worldwide. Upon closing, AccorHotels will own a 50% interest in the joint venture management company. Through this joint venture, AccorHotels will integrate in its network 15 iconic hotels that are ideally located in premium resort markets in Turkey, UAE, Egypt, Russia and Europe an...
Best Western’s Pipeline Nearing 500 Properties Worldwide
March 6, 2017
Berlin, Germany – March 6, 2017 – Best Western® Hotels & Resorts today revealed a development pipeline of close to 500 properties, placing a strong focus on key international markets.The company currently has 239 international locations underway and another 224 in North America – 60% of which are new-builds. "It is evident that Best Western continues to provide exceptional value to our owners and developers around the world, as we see interest in our diverse portfolio of brands continuing to grow," said Suzi Yoder, senior vice president of international operations for Best Western® Hotels & Resorts. "It...
Duetto to Provide Revenue Strategy Solutions for Ruby Hotels & Resorts
Duetto | March 6, 2017
Luxury Hotel Innovator Leverages Cloud-Based Price Optimization Capabilities for Key Markets in Germany and Austria Berlin, March 6, 2017 – Duetto, the market leader in hotel profit optimization technology, announced today that it will implement its cloud-based Revenue Strategy application, GameChanger, for Ruby Hotels, a disruptive developer and operator of luxury hotels in key markets in Germany and Austria. Under the agreement, Duetto will provide unprecedented market intelligence and the benefits of Open Pricing to help Ruby Hotels better understand customer behavior, build and sustain direct business, and achieve price optimi...
Hotel Equities Awards Brooke Stall General Manager of the Year at Annual Conference
Hotel Equities | March 3, 2017
Atlanta–March 3, 2017 – Atlanta-based Hotel Equities (HE) recently celebrated its most successful year to date at the firm's annual conference held in Atlanta. In 2016, the firm's hotels posted record performance in all key measurable areas. At the conference, Hotel Equities presented numerous awards for excellence in both leadership and results. The firm hailed outstanding achievements and honored top individuals and hotels. The Fairfield Inn & Suites by Marriott Gainesville, GA earned the Hotel of the Year award. The SpringHill Suites by Marriott Pensacola Beach earned the Revenue Generation Hotel of the Year. Individu...
Do Your Hotel Financial Statements Pass the Test? Part 1
David Lund | March 1, 2017
Do your hotel financial statements give you the information you need to effectively run your business? Are you able to see if your profits are where they should be in an enhanced top line statement? Do your statements measure flow thru? Do you record your rooms business by proper segments and track the rooms occupied, rate and revenue in each segment? Do you record customers served in F&B and do you separate meal periods? Do you record liquor, beer, wine and mineral sales on your financials separately? Do you measure labor productivity in your financials? Do you record hours of work in your financials? Do you have payroll segmented ...
Enough Room for Everyone? How Hotels are Meeting the Airbnb Challenge
Alan E. Young | March 1, 2017
By Alan E. Young, Co-Founder and President of Puzzle Partner Everybody has a place to live. And thanks to Airbnb and other rent-by-owner sites, everybody can turn their spare room into a moneymaking short-term rental. In the taxi industry, this sharing model let Uber crush the cab companies. The situation isn't that dire for hotels, yet; consumers are more likely to take a chance on an unknown provider for a 15-minute car ride than for a five-night stay. That doesn't mean hotels don't have to take the new competition seriously, however. Airbnb's $30 billion valuation is now larger than that of any of its hotel competitor...
HFTP Continues to Build its Global Presence with First Membership Event in London Next Month
HFTP | February 28, 2017
Expanding its global scope, Hospitality Financial and Technology Professionals (HFTP®), a leading hospitality association and producers of the world-renowned Hospitality Industry Technology Exposition and Conference (HITEC®), will host a membership event for HFTP members and prospective members in London for the first time on Monday, 6 March 2017 at the prestigious Rosewood Hotel London – named "Best UK Business Hotel 2016" by Condé Nast Traveler (UK) at last year's Readers' Travel Awards. The program, sponsored by Keystep, a specialist provider of IT solutions to the hospitality and retail sector,...
The Rainmaker Group Announces Sale of Multifamily Housing Assets to RealPage, Inc.
Rainmaker | February 28, 2017
ATLANTA, GA – February 27, 2017 (4:15 p.m. EST) – The Rainmaker Group, a premier provider of profit optimization and revenue intelligence solutions to the hospitality and gaming industries, announced today that it has agreed to sell its Rainmaker LRO multifamily housing business and product portfolio to RealPage, Inc., a Richardson, Texas-based global provider of software and data analytics to the real estate industry. "This is a win-win for both our LRO and hospitality customers," said Tammy Farley, president of the Rainmaker Group. "We're obviously proud of our LRO successes over the past decade and this combining of two p...
Pebblebrook Hotel Trust Names the 5th Annual Pebby Award Winners
Pebblebrook Hotel Trust | February 27, 2017
HOLLYWOOD, Calif.--Pebblebrook Hotel Trust (NYSE: PEB) (the "Company") today announced the winners of its fifth annual Pebby Awards. The Pebby Award winners were chosen for their outstanding accomplishments in 2016, as determined by the Company. "These awards highlight the extraordinary leadership and commitment to excellence by our hotel management teams and their continued success exhibited in 2016," noted Jon Bortz, Chairman, President and Chief Executive Officer of Pebblebrook Hotel Trust. "Although the competition was remarkable this year, these award winners, working closely with our asset managers, accomplished outstanding result...
Pebblebrook Hotel Trust Reports 2016 Yearly Net Income of $74 Million, Down from $95 Million; Yearly RevPAR Grew 2.4%
Pebblebrook Hotel Trust | February 24, 2017
BETHESDA, Md.--Pebblebrook Hotel Trust (NYSE: PEB) (the "Company") today reported results for the fourth quarter and year ended December 31, 2016. The Company's results include the following: Fourth Quarter Full Year 2016 2015 2016 2015 ($ in millions except per share and RevPAR data) Net income $18.4 $23.0 $74.0 $95.0 Same-Property RevPAR(1) $191.99 $191.94 $211.28 $206.31 Same-Property RevPAR growth rate 0.0% 2.4% Same-Property Wholly Owned EBITDA(1) $59.6 $59.4 $280.3 $268.3 Same-Property Wholly Owned EBITDA growth rate 0.3% 4.5% Same-Property Wholly Owned EBITDA Margin(1) 32.3% 32.1% 35.3% 34.7% Adjusted EBITDA(1) $57.7 $64.4 $273.2...
Hilton Recognizes 12 Team Members with the 2016 CEO Light & Warmth Award
Hilton | February 22, 2017
MCLEAN, Va. - Hilton (NYSE: HLT) today announced the 12 winners of its 2016 CEO Light & Warmth Award. This recognition is the most prestigious accolade the company awards to exceptional Team Members and franchisee employees who embody the company's vision and mission, as well as its values of Hospitality, Integrity, Leadership, Teamwork, Ownership and Now. In 2016, nearly 1,000 Team Members and franchisee employees submitted nominations recognizing their own colleagues for demonstrating the Hilton values at work and in their own personal lives. A committee of representatives from across the company selects the finalists and Hilt...
HITEC Toronto Exhibit Space is Officially Sold Out
HFTP | February 22, 2017
Booth space for HITEC Toronto sold out faster than ever before in HITEC's 45-year history Global hospitality association Hospitality Financial and Technology Professionals (HFTP®), producers of the world's largest hospitality technology conference Hospitality Industry Technology Exposition and Conference (HITEC®), is pleased to announce its exhibit space for HITEC Toronto is officially sold out. A waiting list is available on a first-come, first-served basis for booth space – an updated floor plan is available on the HITEC Toronto website. HFTP's HITEC Toronto is the second, and largest, of three HITEC events plann...
The How To vs. The Want To – Creating Financial Leadership In Your Hotel
David Lund | February 22, 2017
By David Lund The business of managing the hotel finances is not terribly technical or complicated. What makes it challenging is that it's usually a very large job involving many people. In a 500-room hotel, you can easily have 20+ forecast contributors. The communication system in the hotel is the key to both smooth management and predictive financial results. This is the how to. If hotel finances are not a complicated matter, then why is it such a challenge in so many hotels? The answer lies in finding the want to. Most leaders in the hotel don't naturally want to be managing numbers. They typically didn't get into the hotel business ...
New York Boasts Largest Hotel Construction Pipeline in U.S. at Year-End 2016
Lodging Econometrics | February 21, 2017
February 21, 2017 – PORTSMOUTH, NH – Lodging Econometrics (LE) reports at that at year-end 2016 the five markets with the largest hotel construction pipelines by project count are: New York with 192 Projects/30,541 Rooms; Houston with 169 Projects/18,373 Rooms; Dallas with 140 Projects/17,291 Rooms; Nashville with 121 Projects/14,873 Rooms; and Los Angeles with 111 Projects/18,723 Rooms. Since the fourth quarter of 2011, New York has continuously had the highest project count of any market in the Pipeline while Houston has had the second largest for the last thirteen quarters. Future supply growth should be strong in these f...
Hospitality Financial Leadership Recipe – Owners, Not Victims Please
David Lund | February 20, 2017
By David Lund Being a financial leader means you own the result. There is no room for being a victim or victim thinking when it comes to leading the financial piece. The challenges demand the type of ownership that takes each situation and finds the opportunity in it. "A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty." Winston Churchill Winning at the hospitality financial leadership game is something that requires the correct perspective. To desire perfection in this realm is not wise. To look for and nurture constant improvement and individual effort is the telltale sign of pro...
Hunden Strategic Partners Announces Master Developer RFQ/P for Columbus, Ohio
Hunden Strategic Partners | February 17, 2017
The Columbus Downtown Development Corporation (CDDC) is issuing a Request for Qualifications for a Master Developer for a proposed mixed-use development of 21 acres on the Scioto Peninsula in downtown Columbus, Ohio. CDDC invites firms experienced in developing mixed-use projects to submit a proposal outlining their qualifications in response to this RFQ. CDDC seeks to establish a shortlist of qualified Master Developers that will be invited to submit proposals during Part II of this RFQ/P process. Although discussion has taken place regarding several concepts for development at the Site, CDDC does not have a prescribed concept or speci...
Hotel Equities Opens 105-Room Fairfield Inn & Suites in Uncasville, Connecticut
Hotel Equities | February 16, 2017
Uncasville, CT/Atlanta–February 16, 2017– Atlanta-based Hotel Equities (HE) announced the opening of the 105-room Fairfield Inn & Suites by Marriott Uncasville, Connecticut. Located at 2255 Norwich New London Turnpike, the fully renovated hotel operates as a Marriott franchise, managed by Hotel Equities. Lynn Nazarko serves as the General Manager. The extensive renovation rendered every aspect of the hotel fresh and new. The guest experience will be as if walking into a brand new, latest generation Fairfield Inn and Suites. It's the first Fairfield Inn & Suites in the area to feature the brand's new design and d&...
Moderate Growth Continues in the Hotel Construction Pipeline with Projects Up by 12% YOY
Lodging Econometrics | February 16, 2017
February 16, 2017 – PORTSMOUTH, NH – According to the year-end United States Construction Pipeline Trend Report from Lodging Econometrics (LE), the Total Construction Pipeline ended 2016 with 4,960 Projects/598,688 Rooms, up 12% by projects and 10% by rooms Year-Over-Year (YOY). Q4 2016 is the 19th consecutive quarter of pipeline growth, since the cyclical bottom of 2,720 Projects/331,129 Rooms reported in Q1 2012. At year-end, there were 1,520 Projects/196,409 Rooms Under Construction, up by 208 projects YOY or 16%. Projects Scheduled to Start in the Next 12 Months, at 2,392 Projects/268,843 Rooms, were up 466 projects, 24%...
