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
One Third of Upper Upscale Construction Pipeline Has Yet to Make a Branding Decision
Lodging Econometrics | September 6, 2016
September 6, 2016 – PORTSMOUTH, NH – Analysts at Lodging Econometrics (LE) report that the Upper Upscale category in the U.S. Hotel Construction Pipeline is at 66,303 Rooms/307 Projects. About one third, 20,974 Rooms/101 Projects, have yet to make a branding decision. Of the 45,329 Rooms/206 Projects that have already made a branding decision, the franchise companies with the largest room-counts are Hilton Worldwide with 15,061 Rooms/78 Projects, Marriott International with 14,381 Rooms/56 Projects and Starwood with 5,839 Rooms/28 Projects. Hilton's two largest brands in the Upper Upscale Construction Pipeline are: Embassy S...
Measuring The Value of Forecasting Accuracy in Today’s Evolving Hotel Market
Aptech Computer Systems, Inc. | September 6, 2016
Automated Forecasting and Budgeting Gives Operators and Owners Tools to Effectively Optimize Profitability September 6, 2016 – The hospitality industry is expanding rapidly. Hotel companies break ground on new build projects every week. Many operators are renovating older properties and reopening them as new brands from Marriott, Hilton, IHG and others. This expansion is based on investor capital; and investors demand a return. How do management companies deliver this return? Profitability. "Forecasts provide extended vision to anticipate financial results on both top and bottom line, enabling hotel operators to make operational ...
Hotel Equities Selected to Operate Newly-Renovated Fairfield Inn & Suites in Alamogordo, New Mexico
Hotel Equities | September 1, 2016
ATLANTA–September 1, 2016–Atlanta-based Hotel Equities recently announced its selection as the management firm for the newly-renovated Fairfield Inn & Suites by Marriott in Alamogordo, New Mexico. Conveniently located next to 2,900 square feet of convention space, the hotel welcomes business travelers and tourists visiting the scenic Southwest on the edge of the Lincoln National Forest near the San Andres Mountains. White Sands National Monument and Holloman Air Force Base are both within a short drive. Nearby Desert Lakes Golf Course attracts players and visitors for tournaments or just a casual game. "We are excited to...
M3 Unleashes Budget & Forecasting for Hoteliers
M3 Accounting + Analytics | August 31, 2016
Powerful web-based tool seamlessly integrates data from accounting and analytics platforms M3 Accounting + Analytics has experienced exponential growth over the past five years, but that has not stopped the Gainesville, Georgia based company from being attuned to their customers' needs. Through the years, many M3 customers have utilized the budget and forecasting modules embedded into M3's accounting tool, which is now installed in over 4,500 individual properties nationwide. After exhaustive feedback from M3's Advisory Board, user groups and selected customers, M3 has put in place a powerful new tool that combines the best of both wor...
Hotel Construction Pipeline Growth in Canada Steady with Projects Up by 10% YOY
Lodging Econometrics | August 31, 2016
August 31, 2016 – PORTSMOUTH, NH – According to the latest Canada Construction Pipeline Trend Report from Lodging Econometrics (LE), the Total Pipeline ended Q2 2016 with 208 Projects/25,177 Rooms, up 10% by projects and 9% by rooms Year-Over-Year (YOY). This is the 4th consecutive quarter where the pipeline shows YOY growth. There are 71 Projects/9,888 Rooms currently Under Construction. Projects Scheduled to Start Construction in the Next 12 Months are at 79 Projects/8,904 Rooms and projects in Early Planning are at 58 Projects/6,385 Rooms. ...
Howard Karawan Appointed President and Managing Director of Atlantis, Paradise Island Resort in The Bahamas
Atlantis, Paradise Island resort, The Bahamas | August 30, 2016
PARADISE ISLAND, THE BAHAMAS (August 30, 2016) – Brookfield Asset Management is pleased to announce the appointment of Howard C. Karawan as President and Managing Director of Atlantis, Paradise Island resort in The Bahamas. Karawan will succeed Paul Burke, who recently resigned from the position to pursue new career endeavors in the United States. Karawan will assume his new position on September 19, 2016. A luxury hospitality and gaming veteran with over 30 years of experience, Karawan will make his return to Atlantis after previously holding the position of President and Chief Marketing Officer for Kerzner International, the pri...
U.S. Lodging Industry Fees and Surcharges Forecast to Increase to a New Record Level in 2016 – $2.55 Billion
Bjorn Hanson, PhD | August 30, 2016
By Bjorn Hanson, PhD, Clinical Professor NYU School of Professional Studies Jonathan M. Tisch Center for Hospitality and Tourism Following the 2015 record of $2.45 billion, total fees and surcharges collected by U.S. hotels are forecast to increase to another record level of $2.55 billion in 2016. Although the amount will establish a record level of fees and surcharges, the percent increase will be the lowest since 2009. The increase for 2016 reflects a combination of approximately 2.0 percent more occupied hotel rooms than in 2015, more categories of fees and surcharges, and higher amounts charged, but lower fees and surcharges for hig...
HFTP to Honor 2016 CHAE Recipient Kelly Montgomery at Annual Convention in October
HFTP | August 30, 2016
AUSTIN, TEXAS, USA (August 30, 2016) — Hospitality Financial and Technology Professionals (HFTP®) will honor Kelly Montgomery, CHAE as the 2016 Certified Hospitality Accountant Executive (CHAE) of the Year at its 2016 Annual Convention. The CHAE of the Year award honors the individual that scored the highest on the CHAE certification exam within a given year. HFTP's 2016 Annual Convention event will be held at Caesars Palace Las Vegas Hotel & Casino from October 19-21, 2016 in Las Vegas, Nevada USA. Montgomery held her first job in hospitality as a hostess at the Hyatt in San Diego, while attending San Diego State Universi...
New U.S. Hotel Openings Up for 2016 with Marriott Leading Q2 with 53 Hotels
Lodging Econometrics | August 29, 2016
August 29, 2016 – PORTSMOUTH, NH – Lodging Econometrics (LE) reports that 902 Hotels/101,454 Rooms are expected to open in the United States by the close of 2016, up from 736 Hotels/82,074 Rooms opened in 2015. Through the second quarter of 2016, 380 Hotels/42,798 Rooms have already opened, with another 522 Hotels/58,656 Rooms forecast for the remaining two quarters. LE forecasts that New Hotel Openings will jump to 1,099 Hotels/120,418 Rooms in 2017. Marriott has the most New Hotel Openings of any franchise company in the second quarter of 2016 with 53 Hotels/5,959 Rooms. Fairfield Inn is Marriott's top brand for New Hotel ...
New 115-Room Fairfield Inn & Suites by Marriott Set to Open in Uptown Cincinnati, Ohio
Fairfield Inn & Suites by Marriott | August 25, 2016
Cincinnati, OH – August 25, 2016 – The 115-room Fairfield Inn & Suites by Marriott in Cincinnati, Ohio is scheduled to open on Friday, September 2, 2016 with its smart, inventive public space and guest room design, and its bright and inviting décor. Located at 2500 South Market Street, the Fairfield Inn & Suites Cincinnati Uptown/University Area will operate as a Marriott franchise, owned by Hotel Development Services, LLC and managed by American Hospitality Management, Inc. of Cheboygan, Michigan. This is the newest Fairfield Inn & Suites in the area to feature the brand's new design and décor, whi...
IHG Appoints Jacque Riley as Brand Director, Kimpton Hotels & Restaurants Europe
IHG | August 25, 2016
InterContinental Hotels Group® (IHG), one of the world's leading hotel companies, is pleased to announce the appointment of Jacque Riley, Brand Director, Kimpton Hotels & Restaurants Europe. The newly created role will report directly to Tom Rowntree – VP Brand Management, Luxury & Boutique Brands, Europe, and begin with immediate effect. IHG acquired Kimpton Hotels & Restaurants in 2015 and recently announced the signing of Kimpton Paris as the second Kimpton within Europe. The signing of Kimpton Amsterdam was announced in January 2016. Jacque's appointment is a result of the success of developing the Kimpton bra...
Hotel AG Announces Recent Closings
Hotel AG | August 24, 2016
ATLANTA – August 24, 2016 – Hotel AG announced today the firm has closed 16 hotel transactions since its last press release. The transactions were located across 11 states and five regions of the US including West Coast, South Central, North Central, Northeast and Southeast. The transactions were comprised of several brands such as Marriott, Hilton, IHG, among other brands and 2 independent hotels located in Pennsylvania and San Francisco. Hotel AG brokers involved in these transactions were Brad Sinclair, Andy Broad, Michael Bernath, Eric Gunderson, Rick George, Niven Patel, Wendy Blissett, Rex Cagle and Thierry Roch. H. Ke...
Los Angeles Leads U.S. Pipeline in Early Planning Projects with 36 Hotels on the Drawing Board
Lodging Econometrics | August 23, 2016
August 23, 2016 – PORTSMOUTH, NH – According to the recent United States Construction Pipeline Trend Report from Lodging Econometrics (LE), Los Angeles has 104 Projects/17,912 Rooms in the pipeline. There are 28 Projects/6,030 Rooms Under Construction, 40 projects/5,539 Rooms Scheduled to Start Construction in the Next 12 Months and 36 Projects/6,343 Rooms in Early Planning. At 36 Projects/6,343 Rooms, Los Angeles has the largest number of Early Planning projects of any market in the Construction Pipeline. Of these, 20 Projects/4,372 Rooms have yet to make a branding decision, the largest of which is a 1,000-Room project dow...
Cost Segregation Studies for Hospitality Assets
Tim Sauer | August 22, 2016
By Tim Sauer HVS prides itself on being a trusted advisor for hotels owners and investors, and we are constantly looking for opportunities to maximize our clients' cash flows and returns. The following article highlights the basics of cost segregation studies and their potential benefits for our clients. While HVS does not offer this service, we have consulted with cost segregation professionals to maximize its potential benefits in a hospitality context. The Internal Revenue Code (aka the "IRS Code") requires that the cost of commercial property be expensed over its designated recovery period. This annual expense, known as depreciation...
HFTP to Provide Food Assistance to Residents of Southern Nevada USA via its Successful Social Responsibility Program: HFTP Helps
HFTP | August 22, 2016
Donations for the silent auction fundraiser are currently being accepted – HFTP will donate one hundred percent of the proceeds to the charity AUSTIN, TEXAS, USA (August 22, 2016) – As part of its ongoing social responsibility efforts, global hospitality association Hospitality Financial and Technology Professionals (HFTP®) will hold its second HFTP Helps silent auction fundraiser at this year's Annual Convention in Las Vegas, Nevada USA. Created to support the local communities that host HFTP's Annual Convention each October, this year's HFTP Helps fundraiser will benefit Three Square, Southern Nevada's only food bank. ...
Hotel Lawyer: Why NOW May Be the Best Time for Developers to Start EB-5 Financing
Jim Butler | August 22, 2016
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Author of www.HotelLawBlog.com 22 August 2016 Is there a serious risk that EB-5 will expire September 30, 2016? Anything is possible when Congress is in session, but none of the experts we talk to believe that the EB-5 program will be allowed to lapse. As discussed below, certain key provisions of the EB-5 program dealing with regional centers will "sunset" or expire on September 30, 2016. And, as part of the effort to extend the regional center program or make it permanent, there are some proposals to modify potentially significant aspects of the EB-5 program. No one s...
Dallas Pipeline Growth Continues with 128 Projects Under Construction, Scheduled and Planned
Lodging Econometrics | August 19, 2016
August 19, 2016 – PORTSMOUTH, NH – Lodging Econometrics reports that according to its most recent Construction Pipeline Trend Report, Dallas has 128 Projects/15,682 Rooms in the pipeline, the third highest in the U.S. Projects Under Construction are at 40 Projects/5,170 Rooms, those Scheduled to Start Construction in the Next 12 Months are at 68 Projects/8,334 Rooms while those in Early Planning are at 20 Projects/2,178 Rooms. Second only to Nashville, Dallas added the most projects Year-Over-Year (YOY) to its pipeline with 27 Projects/2,771 Rooms. Under Construction added 19 Projects/2,303 Rooms, up 90% by projects YOY and ...
Achieving Total Revenue Management with Your Existing RMS
Bernard Ellis, VP Industry Strategy - Hospitality at Infor | August 19, 2016
Four Steps to Getting There by Bernard Ellis Technology is often blamed for raising the biggest barrier to embracing a "total revenue management" approach. But chances are that you have systems in place that are already up to the task, if only you would set them up to succeed. You may need to make PMS configuration changes and refine certain business practices, but it will be more than worth it. It seems like every time RevPAR growth slows down, as it is now in the US, hoteliers instinctively turn first to investigate their revenue management systems, which surely must have blown a fuse or broken a fan belt or something. Upon ...
Houston, Texas Leads in Projects to Start Construction in the Next 12 Months
Lodging Econometrics | August 18, 2016
August 18, 2016 – PORTSMOUTH, NH – Houston has 170 Projects/20,083 Rooms in the Hotel Construction Pipeline according to Lodging Econometrics (LE). Of all markets, Houston has the most projects Scheduled to Start Construction in the Next 12 Months with 87 Projects/9,771 Rooms. Other project stage totals consist of 49 Projects/6,692 Rooms Under Construction and 34 Projects/3,620 Rooms in Early Planning. With 29 projects Scheduled to Start Construction in the Next 12 Months, InterContinental Hotels Group (IHG) has the most scheduled projects of all franchise companies in Houston. Marriott International and Hilton Worldwide are...
New York is Top Market for New Hotel Openings in 2016 According to U.S. Construction Pipeline Trend Report
Lodging Econometrics | August 17, 2016
August 17, 2016 – PORTSMOUTH, NH – According to a recent United States Construction Pipeline Trend Report from Lodging Econometrics (LE), the markets expecting the largest number of New Hotel Openings in 2016 are: New York with 46 Projects/7,129 Rooms, Houston with 36 projects/4,145 Rooms, Dallas with 25 Projects/3,014 Rooms, Miami with 21 Projects/2,638 Rooms and Austin with 19 Projects/2,176 Rooms. In the first half of 2016, the U.S. opened 380 Hotels/42,798 Rooms. 116 of these hotels and 17,084 of the rooms were in the top 25 markets, representing 31% of all hotels and 40% of the rooms opened in the first half. ...
Top U.S. Hotel Construction Markets Include New York, Houston, Dallas, Nashville, and Los Angeles
Lodging Econometrics | August 16, 2016
August 16, 2016 – PORTSMOUTH, NH – Lodging Econometrics (LE) reports that the five U.S. markets with the largest hotel construction pipelines by project count are: New York with 196 Projects/32,121 Rooms; Houston with 170 Projects/20,083 Rooms; Dallas with 128 Projects/15,682 Rooms; Nashville with 109 Projects/13,789 Rooms; and Los Angeles with 104 Projects/17,912 Rooms. New York has continuously had the largest project count since the fourth quarter of 2011 while Houston has had the second largest for the last ten consecutive quarters. ...
USALI Changes Offer New Benchmarks
Robert Mandelbaum | August 16, 2016
By: Robert Mandelbaum Every ten years or so, the Financial Management Committee (FMC) of the American Hotel & Lodging Association revises the Uniform System of Accounts for the Lodging Industry (USALI). The USALI serves as the industry standard for reporting hotel revenues and expenses. Revisions to the USALI are necessary in order to keep up with changes in industry practice, as well as changes in accounting rules and regulations. In preparing the 11th revised edition of the USALI that was used by hoteliers to prepare their 2015 operating statements, the FMC addressed some industry changes that had occurred since the 10th edition t...
New York City Leads U.S. Construction Pipeline with 196 Projects/32,121 Rooms
Lodging Econometrics | August 15, 2016
August 15, 2016 – PORTSMOUTH, NH – Analysts at Lodging Econometrics (LE) report that the New York City Hotel Construction Pipeline is at 196 Projects/32,121 Rooms. It is the largest pipeline in the U.S. New York City also has the highest number of projects Under Construction with 103 Projects/19,010 Rooms, 53% of New York's Total Pipeline. Projects Scheduled to Start in the Next 12 Months are at 62 Projects/8,868 Rooms, while Early Planning stands at 31 Projects/4,243 Rooms. Marriott International has the most pipeline projects Under Construction of any franchise company in New York City with 22 Projects/5,526 Rooms, the lar...
U.S. Construction Still Climbing
Lodging Econometrics | August 10, 2016
August 10, 2016 – PORTSMOUTH, NH – According to the latest United States Construction Pipeline Trend Report from Lodging Econometrics (LE), the total U.S. Construction Pipeline ended Q2 2016 with 4,633 Projects/569,848 Rooms, up 15% by projects and 12 % by rooms Year-Over-Year (YOY). This is the 15th consecutive quarter of pipeline growth. There are 1,381 Projects/184,167 Rooms currently Under Construction, up by 237 projects or 21%. Projects Scheduled to Start in the Next 12 Months, at 2,198 Projects/249,103 Rooms, are up 480 projects, 28%. Projects in Early Planning with 1,054 Projects/136,578 Rooms are down by 122 project...
