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
BirchStreet Procure-to-Pay Solution is Fully Deployed Across Starwood Hotels & Resorts North American Properties
BirchStreet | August 8, 2016
BirchStreet Deployment in North America is Complete NEWPORT BEACH, Calif. and STAMFORD, Conn. – August 9, 2016 – BirchStreet Systems announced that Starwood Hotels & Resorts Worldwide has fully deployed BirchStreet's Procure-to-Pay Platform across its owned and managed North American properties. As the hospitality industry leader in Procure-to-Pay (P2P) automation, the cloud based BirchStreet platform helps its customers increase efficiency and visibility in all purchasing related activities, drive compliance and financial controls, and improve operations resulting in increased profitability. As of July 5, 2016, Starwood...
R.I.P. Startups: Why 90% of Travel Technology Startups Fail
Alan E. Young | August 5, 2016
By Alan E. Young One of the hardest truths for entrepreneurs to accept is that as many as nine out of ten startups will fail. In an ecosystem full of enthusiasm and optimism, this harsh reality can be difficult to swallow. However, the fact remains that only a small percentage of travel technology startups actually manage to become viable businesses in the long-term. My biggest frustration is companies that are 'walking zombies'. They do not know they are dead and cling on long after they should have called it quits. At the same time, companies can greatly increase their chances for success by focusing their attention on the things that...
What if Airbnb Built a Hotel?
ALICE | August 4, 2016
What if Airbnb built a hotel? Ian Schrager said on stage at this year's BLLA conference that, in some ways, Airbnb is the boutique hotel of one. So, what if Airbnb became the boutique hotel of many? If Airbnb builds a hotel they will leverage their platform to provide accommodations and services more uniquely tailored to guests and with much greater cost efficiency. What might that look like…? 100% Direct Booking... In the case of most hotels there is no significant advantage for the traveler to book direct, rather than through an OTA, and hotels have lost customer loyalty and revenue as a result. However, just as Airbnb now fac...
Hotel Equities Names Wesley Ludloff as General Manager for Island House Hotel in Orange Beach, Alabama
Hotel Equities | August 3, 2016
Atlanta, GA–August 03, 2016 – Atlanta-based Hotel Equities announced Wesley Ludloff as the General Manager of the Island House Hotel, a 161-room beach front, full service property in Orange Beach, Alabama. The hotel begins a comprehensive renovation following the summer season converting to a DoubleTree by Hilton. Located at 26650 Perdido Beach Blvd. in Orange Beach, Alabama, the hotel overlooks sugar sand and the turquoise Gulf in the heart of Orange Beach's finest golf, fishing, restaurant and shopping. Just a short drive from the Pensacola International and Mobile Regional Airports, it is conveniently accessible to bo...
HFTP Announces New Global Chapters and Expansion into Mexico and United Arab Emirates
HFTP | August 3, 2016
Three new HFTP chapters, representing three different countries, were officially chartered last month AUSTIN, TEXAS, USA (August 3, 2016) — Further expanding its global presence, Hospitality Financial and Technology Professionals (HFTP®) hit the chapter charter trifecta last month with the addition of three officially chartered chapters representing three different countries: Mexico, United States (USA) and United Arab Emirates (UAE). The new chapters include HFTP's Los Cabos chapter, Dubai chapter and Buffalo-Niagara chapter. This will be the first time HFTP has expanded into Mexico and the UAE. "We are pleased to welcom...
IHG Reports First Half 2016 Interim Results: Achieved a 10% Increase in Operating Profit
IHG | August 2, 2016
Financial summary1 Reported Underlying2 2016 2015 %Change 2016 2015 %Change Revenue $838m $915m (8)% $771m $736m 5% Fee revenue3 $673m $656m 3% $687m $656m 5% Operating profit $344m $337m 2% $345m $313m 10% Adjusted EPS 89.0¢ 87.2¢ 2% 89.4¢ 80.3¢ 11% Basic EPS4 87.7¢ 156.2¢ (44)% - - - Interim dividend per share 30.0¢ 27.5¢ 9% - - - Net debt $1,829m $1,710m 7% - - - 1All figures before exceptional items unless otherwise noted. 2Excluding owned asset disposals, managed leases and significant liquidated damages; at constant H1 2015 exchange rates (CER). Underlying adjusted EPS based on underlying EB...
Marriott International Reports Q2 2016 Net Income of $247 million, a 3% Increase Over Prior Year Results
Marriott International, Inc. | July 28, 2016
Highlights: Second quarter reported diluted EPS totaled $0.96, a 10 percent increase over prior year results. Excluding transition and transaction costs related to the Starwood acquisition, second quarter adjusted diluted EPS totaled $1.03, an 18 percent increase over prior year results; North American comparable systemwide constant dollar RevPAR rose 3.2 percent in the second quarter. On a constant dollar basis, worldwide comparable systemwide RevPAR rose 2.9 percent in the second quarter; At the end of the second quarter, Marriott's worldwide development pipeline increased to more than 285,000 rooms, including approximately 33,...
Duetto Brings its Revenue Strategy Solutions to Dream Hotel Group
Duetto | July 28, 2016
Ten Luxury Hotels in Unique Destinations Benefit from Open Pricing to Drive Better Pricing Decisions New York, July 28, 2016 – Duetto, the market leader in hotel profit optimization technology, announced an agreement to implement its Revenue Strategy solutions for Dream Hotel Group, bringing new insights on pricing and demand to the company's Dream, Time, and Unscripted hotels totaling close to 2,000 rooms in urban and resort destinations in New York, California, Florida and Phuket, Thailand. The agreement further accelerates rapid adoption of GameChanger, Duetto's cloud-based predictive analytics platform, which provides hotels ...
Concord Hospitality Positions for Future Growth
Concord Hospitality Enterprises Company | July 28, 2016
Data-Focused Strategy and Centralized Budgets Deliver Accurate Daily Performance Forecasts to Optimize Profitability for Concord's 90+ Chain and Independent Properties July 28, 2016 – Concord Hospitality increases its portfolio size yearly providing excellent service and profitable results to ownerships. The company operates a portfolio of more than 90 properties that include Marriott, Starwood, Hyatt, Choice, IHG, and Hilton brands. In 2015 Concord implemented a new data analysis, budgeting and hotel forecasting system to support its continued growth strategy. Concord's Chief Information Officer Brian Cornell said, "Accurate fore...
Hilton Reports Q2 2016 Net Income of $244 million, an Increase of $77 million from Q2 2015; Outlines Progress on Spin-Offs
Hilton | July 27, 2016
MCLEAN, Va. - Hilton Worldwide Holdings Inc. ("Hilton," "Hilton Worldwide" or the "Company") (NYSE: HLT) today reported its second quarter 2016 results. Highlights include: EPS, adjusted for special items, was $0.25 for the second quarter; without adjustments, EPS was $0.24 Net income for the second quarter was $244 million, an increase of $77 million from the same period in 2015 Adjusted EBITDA for the second quarter was $806 million, an increase of 4 percent from the same period in 2015, and Adjusted EBITDA margin increased 100 basis points System-wide comparable RevPAR increased 2.9 percent for the ...
Pebblebrook Hotel Trust Reports Q2 2016 Net Income Increased 180%
Pebblebrook Hotel Trust | July 26, 2016
Adjusted EBITDA Rose 6.7 Percent; Adjusted FFO Per Diluted Share Climbed 12.5 Percent BETHESDA, Md.-- Pebblebrook Hotel Trust (NYSE: PEB) (the "Company") today reported results for the second quarter ended June 30, 2016. The Company's results include the following: Second Quarter Six Months Ended, June 30 2016 2015 2016 2015 ($ in millions except per share and RevPAR data) Net income (loss) $74.4 $26.6 $91.1 $33.8 Same-Property RevPAR(1) $223.96 $218.51 $209.58 $199.75 Same-Property RevPAR growth rate 2.5% 4.9% Same-Property EBITDA(1) $83.8 $82.3 $145.8 $136.1 Same-Property EBITDA growth rate 1.9% 7.1% Same-Property EBITDA Margin(1) 36....
Unique Vacations, Inc., Worldwide Representative of Sandals Resorts, Partners with Duetto for its Revenue Strategy Solutions
Duetto | July 26, 2016
19 All-Inclusive Resorts with more than 5,200 Rooms throughout the Caribbean to Benefit from Duetto's Advanced Analytics New York, July 26, 2016 – Duetto, the market leader in hotel profit optimization technology, announced an agreement to implement its Revenue Strategy solutions at Unique Vacations Inc. (UVI), an affiliate of the worldwide representative for Sandals Resorts, Beaches Resorts and Grand Pineapple Beach Resorts, bringing new insights on pricing and demand to its the award-winning resorts throughout the Caribbean. The agreement further accelerates rapid adoption of Duetto's GameChanger, a cloud-based predictive analy...
Hotel Equities Opens 122-Room Hilton Garden Inn Ardmore in Oklahoma
Hilton Garden Inn | July 25, 2016
ARDMORE, Okla. - Hilton Garden Inn, Hilton Worldwide's (NYSE: HLT) upscale global brand of hotels, today announced the opening of Hilton Garden Inn Ardmore. The property, located at 710 Premier Parkway, brings 122 new rooms to the Hilton Garden Inn brand. It is managed by Hotel Equities. "The hotel is poised to welcome guests to "Lake and Trail Country" known as Ardmore," said Barry Werthwine. "Guests will enjoy our welcoming hotel whether they are visiting for leisure or for business." Hilton Garden Inn Ardmore is adjacent to Interstate 35 and near Lake Murray State Park. Business offices including Mic...
New York EB-5 Investment Immigration Convention
Jim Butler | July 18, 2016
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Author of www.HotelLawBlog.com More than 700 people are gathering the next two days in New York City for one of the largest EB-5 financing conferences in the country. We are proud to be a platinum sponsor of this program, and I am looking forward to my panel on how to finance hotel construction and development with EB-5. Hosted by EB-5 Investors Magazine, this event will be held July 17-18, 2016 at the Sheraton Hotel in Times Square. The first day is comprised of three tracks of workshops and Monday is a full day of panels on EB-5 topics of current interest. Dr. Arthur ...
High Hotels Breaks Ground on the 135 All-Suite SpringHill Suites by Marriott Allentown/Bethlehem Hotel
High Hotels Ltd. | July 13, 2016
Ceremony Speakers (left to right) Rick Stoudt, President, High Construction company Laurel Rolle, Regional Director Operations, High Hotels Russ Urban, President, High Hotels Dave Mendis, Development Marriott International Stephanie Reese, VP Sales & Marketing, High Hotels Mike Shirk, CEO, the High Companies Charlie Dent, US Congressman (PA-15) Tony Iannelli, President & CEO Greater Lehigh Valley Chamber of Commerce Michael Stershic, President Discover Lehigh Valley Jason Space, Integrity Bank Offering spacious studio suites, the hotel is scheduled to open in the Stabler Corporate Center in late-summer 2017. LANCASTER, PA. (Jul...
U.S. Hotel Development Cost Survey 2015/16
Stacey E. Nadolny | July 12, 2016
By Stacey E. Nadolny This 2015/16 survey reports per-room hotel development costs based on data compiled by HVS from hotel projects proposed or under construction during the 2015 calendar year. Construction cost data for new projects was collected in 2015 in order to form the basis of the mean and median of the construction cost components. Data derived from published sources and industry indexes, as well as information obtained from architects, contractors, developers, lenders, and other professionals involved with hotel development projects, have been considered in this survey. The HVS Hotel Development Cost Survey sets forth ranges o...
Hilton has Largest Presence in Global Hotel Construction Pipeline with 1,536 Projects/246,358 Rooms
Lodging Econometrics | July 7, 2016
July 7, 2016 – PORTSMOUTH, NH – With 1,536 Projects/246,358 Rooms, Hilton Worldwide has the largest brand presence by both project and room count in the Global Hotel Construction Pipeline, Lodging Econometrics (LE) reports. Hilton has added 255 projects to its pipeline since last year, up 20%. Following closely is Marriott International with 1,431 projects/231,517 rooms and InterContinental Hotel Group with 1,281 projects/203,430 rooms. ...
Jekyll Island-State Park Authority RFP 326: Request for Proposals to Design, Construct and Operate a 100+/- Room Limited Service Hotel
June 30, 2016
The Jekyll Island State Park Authority (the "Authority" or "JIA") is seeking proposals from qualified and a highly experienced Hotel Developer to design, construct and operate a 100+/- room limited service hotel on a site in the Jekyll Island Beach Village. The new Jekyll Island Beach Village is the culmination of ten (10) years of island-wide revitalization. The Beach Village features retail shops, restaurants and lodging adjacent to pristine beaches and the Jekyll Island Convention Center. More information on Jekyll Island can be found at www.jekyllisland.com. To be considered, proposals must arrive at the offices of the Jekyll Island...
Duetto to Provide Revenue Strategy Solutions for River Spirit Casino
Duetto | June 30, 2016
Tulsa's Largest Resort Will Leverage Open Pricing at New 27-Story Hotel Anchoring $365 Million Expansion Tulsa, OK, June 30, 2016 – Duetto, the market leader in hotel and casino profit optimization technology, announced today that it will provide Revenue Strategy solutions for the gaming property and the new 27-story hotel under construction at River Spirit Casino Resort in Tulsa, Okla. Duetto's GameChanger application will enable River Spirit to manage pricing and demand for the 483 rooms and suites being added to the property, making it the largest casino resort in Tulsa. Tom Allen, General Manager of Resort Operations at River ...
HFTP’s Frank Wolfe, CAE to Remain CEO Until May 2022
HFTP | June 28, 2016
Poised to extend its global reach, Hospitality Financial and Technology Professionals (HFTP®) has opted to maintain its momentum by retaining 25-year HFTP veteran Frank Wolfe, CAE at the helm of the association's management. Wolfe will remain as the association's CEO through May 2022, a position he's held since 1994. The HFTP Global Board of Directors has tasked Wolfe with broadening his role as the association's ambassador, demonstrating the organizations' resources and educational opportunities for hospitality finance and technology, and how it supports the hospitality industry at large. "Frank's contr...
JQH Files for Chapter 11 Bankruptcy to Restructure Financial Footing
John Q. Hammons Hotels & Resorts | June 28, 2016
SPRINGFIELD, Mo.--(June 28, 2016)--John Q. Hammons Hotels & Resorts (JQH) today announced that the family of companies, the Revocable Trust of John Q. Hammons, and their related affiliates have filed voluntary petitions to restructure under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court of the District of Kansas at Kansas City. JQH held a press conference this morning in Springfield to announce the filing. JQH is a leading private, independent owner and manager of hotels in the United States, including operating more than 1 million square feet of superb meeting space. According to JQH's CEO Jacquie Dowd...
Duetto to Provide Revenue Strategy Solutions for Posadas
Duetto | June 27, 2016
Duetto Brings Open Pricing to Mexico's Biggest Hotel Operator, Adding More than 145 Hotels as it Continues to Expand in Latin America New York, June 27, 2016 – Duetto, the market leader in hotel profit optimization technology, announced today that it will implement its Revenue Strategy solutions for Posadas, bringing new insights on pricing and demand to more than 145 hotels encompassing approximately 23,500 rooms in Mexico. Posadas is Mexico's largest hotel chain and is known for superior locations and guest experience, high-quality facilities, and outstanding guest technology. "We are very happy to announce this agreement with P...
HSMAI Region Europe to Co-Locate ROC Conference With Premiere HITEC Amsterdam in March 2017
HFTP | June 24, 2016
Thu, 23 June 2016 Hospitality Financial and Technology Professionals (HFTP®), global leaders in the hospitality industry and producers of the world's largest Hospitality Industry Technology Exposition and Conference (HITECSM), is pleased to announce its partnership with HSMAI Region Europe. As part of the partnership, HSMAI Region Europe will co-locate its Revenue Optimization Conference (ROC) with the premiere HITEC Amsterdam, 28-30 March at the RAI Convention Centre. "HFTP is proud to co-locate with HSMAI Region Europe in Amsterdam next year," said HFTP CEO Frank Wolfe, CAE. "HFTP is currently expanding internat...
New York Tops List of Cities in the World for Hotel Construction with 187 Projects
Lodging Econometrics | June 24, 2016
June 24, 2016 – PORTSMOUTH, NH According to the latest Global Construction Pipeline Trend Report from Lodging Econometrics (LE), the top five cities with the largest construction pipelines in the world by project count are: New York with 187 Projects/32,136 Rooms; Jakarta with 130 Projects/22,851 Rooms; Seoul with 128 Projects/27,187 Rooms; Shanghai with 114 Projects/24,285 Rooms; and Dubai with 104 Projects/29,948 Rooms. ...
