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
Hotel AG Hires Chelsea Wang to Open San Francisco Office
Hotel AG | June 23, 2016
ATLANTA, June 23, 2016 – Hotel AG announced today the firm has hired Chelsea Wang to open the Hotel AG San Francisco office. Chelsea Wang has extensive experience in the hospitality industry in the areas of hotel business development, management, and acquisition. Prior to joining Hotel Assets Group, Chelsea served as an In-House counsel for over six years providing services in hotel management, acquisition, leasing and contract negotiation. She has been a commercial real estate broker for five years specializing in franchised/independent hotel acquisition, new construction and foreign investment development. She has the expertise ...
21% of U.S. Hotel Pipeline Yet to Select a Brand
Lodging Econometrics | June 22, 2016
June 21, 2016 – PORTSMOUTH, NH According to a recent United States Construction Pipeline Trend Report from Lodging Econometrics (LE), there are 715 pipeline projects with 111,465 rooms, 21% of the Total Pipeline, that have yet to select a brand. Of these 715 projects 139 are for full-service hotels, 555 are select service and 121 are limited service. ...
U.S. Leads Global Construction Pipeline with 40% of World’s Growth
Lodging Econometrics | June 20, 2016
June 20, 2016 – PORTSMOUTH, NH - According to the latest Global Construction Pipeline Trend Report from Lodging Econometrics (LE), the worldwide Pipeline is at 11,196 Projects/1.9 million Rooms, the highest level LE has ever recorded. The Global Pipeline is up 5% Year-Over-Year (YOY) by projects and 6% by rooms. Growth is led by the United States which now has 40% of the world's and 29% of its rooms in the Pipeline. Globally there are 5,277 Projects/990,669 Rooms currently Under Construction, down 1% by projects and up 1% by rooms. Projects scheduled to Start Construction in the Next 12 Months, at 3,214 Projects and 466,129 Rooms,...
Groundbreaking Development in Group Revenue Management: Rainmaker’s Group Pricing Solution Now Integrated with Cvent Lead Scoring
Rainmaker | June 20, 2016
ATLANTA – June 20, 2016 – Sales managers overtasked by the complex challenges of the group bid process have a revolutionary new tool at their disposal. In partnership, The Rainmaker Group and Cvent, Inc. have integrated Cvent's Lead Scoring technology with Rainmaker's innovative grouprev® group pricing solution. The new interface makes it simple, for the first time, for sales managers to quickly prioritize group booking requests, enabling them to respond faster and win the blend of business that delivers the greatest economic benefit to the hotel. Going live shortly with Tropicana Las Vegas - a DoubleTree by Hilton, the ...
Aptech Computer Systems Launches Mobile Targetvue for Company Performance Access at HITEC
Aptech Computer Systems, Inc. | June 20, 2016
At HITEC Visit Aptech in Booth #719 June 20-23 at New Orleans' Ernest N. Morial Convention Center Web-Based Targetvue Budget Access Drives Productivity for 'Anywhere' Performance Analysis at A Glance Pittsburgh, PA – June 20, 2016 – Aptech Computer Systems will launch the newest version of its Targetvue Budgeting and Forecasting system at HITEC 2016, booth 719 in New Orleans. The latest Targetvue version provides an intuitive look and feel for the enterprise budget and forecast system. Aptech will also demonstrate its PVNG enterprise back office system with graphical user interface that simplifies hotel accounting. Aptech ...
Nashville’s Boom Tilts Towards Upscale
Lana Yoshii | June 16, 2016
Construction is booming in Nashville, Tennessee, particularly in the hospitality industry. This latest wave of hotel construction commenced with the opening of the Music City Center in May 2013. Currently, there are 153 hotels totaling 23,400 hotel rooms in the city of Nashville. In 2015 and through May 2016, five hotels have opened increasing rooms supply by 3%. These properties ranged from 93 to 214 rooms ranging from economy priced hotels to upper-tier extended stay brands (i.e., Residence Inn Vanderbilt/West End). Currently, STR and Pinnacle Advisory Group have identified 46 potential hotel development projects in various stages of ...
HFTP Announces 22 Mentors for Entrepreneur 20X Pitch Competition at HITEC 2016
HITEC? | June 15, 2016
AUSTIN, TX USA (June 15, 2016) — Hospitality Financial and Technology Professionals (HFTP®), producers of Hospitality Industry Technology Exposition and Conference (HITECSM), is excited to announce the hospitality technology professionals that will offer their time and expertise as industry mentors at the returning Entrepreneur 20X (E20X) start-up pitch competition. This year at HITEC 2016 will be the first-ever year the mentoring sessions have been available to participants. The 17 participating, unfunded startup companies will have one-on-one consultations with a paired mentor the morning of Monday, June 20. The meet-ups wil...
Hotel Equities to Manage Residence Inn Miami Beach – Surfside, Owned by Hotel Development Partners
Hotel Development Partners | June 15, 2016
Atlanta, Georgia / Miami Beach/Surfside, Florida (June 15, 2016) – Atlanta-based Hotel Development Partners (HDP) announced the opening of the 175-suite Residence Inn by Marriott Miami Beach-Surfside in hotel will operate as a Marriott franchise, owned by HDP-TLD Partners LLC and managed by Hotel Equities (HE), a JV partner in the deal. "We are pleased to introduce this unique, lifestyle Residence Inn to the Surfside area," said Allen O'Brien, President of Hotel Development Partners. Leisure guests and families will love the beach access and local options for entertainment and fun. "The location works well for small meetings with ...
Upscale Chain Developments Represent 31% of U.S. Construction Pipeline with 1,384 Projects
Lodging Econometrics | June 14, 2016
June 14, 2016 – PORTSMOUTH, NH – According to a recent United States Construction Pipeline Trend Report from Lodging Econometrics, hotel development in the Upscale chain scale represents 1,384 projects, 31% of the Total Pipeline. The leading Upscale brands are Residence Inn with 168 Projects, Courtyard with 140 projects and SpringHill Suites with 124 projects. These three largest brands all belong to Marriott International and account for a third of all pipeline projects in the Upscale chain scale. ...
Why You May Need to Change Your “Competitive Set” Now; STR Adopts New Guidelines
Jim Butler | June 14, 2016
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Author of www.HotelLawBlog.com To maintain the confidentiality of hotel data, STR imposes certain restrictions on the hotels for which it will provide competitive set data. The Marriott-Starwood merger is shaking up the world of competitive sets with the result that many owners will need to revise the competitive sets specified in their hotel management agreements. As Bob Braun explains in the article below, considering the need to identify appropriate hotels for new competitive sets, and negotiation of amendments to hotel management agreements, it would probably be wis...
Hotel Management Software-Winsar Infosoft
Winsar Infosoft Private Limited | June 14, 2016
WINHMS is a state-of-art next generation product from the stables of Winsar Infosoft, India catering to the needs of the entire gamut of the Hospitality Industry, including Hotels, Motels, Resorts, Clubs, Serviced Apartments and other Hospitality Management businesses. It helps to achieve better results by increasing efficiency in both front and back office operations. Unique ERP architecture ensures higher visibility of MIS, seamless interdepartmental communication, powerful audit trails and arresting all revenue leaks. Superior technical design, internationally accepted norms, powerful and user-friendly features empowers you to provid...
5 Basic Things a Young Hotel Revenue Manager Must Know!
Revxpert | June 11, 2016
When I started in revenue management, it meant learning the hard way. No one, from my seniors to the higher management, really knew what revenue management is all about and what to expect from me and my team really. At that time, our learnings were all on-the-job. B-side is that it was easier then, since expectations were less due to lack of knowledge on revenue management and global distribution channels. Management today knows what to expect from a revenue manager and as a new revenue manager, if you do not perform, you may have to compromise. Learning only through experience doesn't reap good results anymore. Expectation are higher, ...
HVS Design and JN+A Release 2016 Hotel Cost Estimating Guide
Warren G Feldman | June 10, 2016
By Warren G Feldman HVS Design and Jonathan Nehmer + Associates (JN+A) are proud to announce the completion of the 2016 Hotel Cost Estimating Guide. The Guide is a comprehensive listing of capital expenditure construction and FF&E costs for hotel renovations in the USA. ...
New York and Houston Have Most Robust Hotel Construction Pipelines
Lodging Econometrics | June 9, 2016
June 9, 2016 – PORTSMOUTH, NH - Lodging Econometrics reports that the five U.S. markets with the largest hotel construction pipelines by project count are New York with 187 projects, Houston with 169, Dallas with 128, Los Angeles with 94 and, new to the top five, Nashville with 89 projects. Marriott International has the most pipeline projects of any franchise company in four of these markets with 30 in New York, 29 in Dallas, 18 in Los Angeles and 20 in Nashville. In Houston, however, Intercontinental Hotels Group has 46 projects. ...
Upper Midscale Projects Represent 45% of U.S. Construction Pipeline with 2,026 Projects
Lodging Econometrics | June 8, 2016
June 8, 2016 – PORTSMOUTH, NH - Analysts at Lodging Econometrics report that there are 2,026 Upper Midscale projects in the U.S. Hotel Construction Pipeline, the highest count of any chain scale and representing 45% of Total Pipeline projects. The leading Upper Midscale brands are Holiday Inn Express with 389 projects, Hampton Inn & Suites with 336 projects and Home2Suites with 290 projects. These top three brands represent half of all projects in the Upper Midscale pipeline. ...
HFTP Announces Keynotes and New Updates for its 2016 Annual Convention
HFTP | June 8, 2016
AUSTIN, TEXAS, USA (June 8, 2016) — Hospitality Financial and Technology Professionals (HFTP®) is making some key updates to its 2016 Annual Convention, which it has produced since 1952. The event, which offers essential educational and networking opportunities for hospitality finance and technology professionals, has expanded on the offered session formats and changed vendor interaction. The popular element that does remain is the informative and motivating keynotes, which will be present each day at the convention. The HFTP Annual Convention is scheduled for October 19–21, 2016 at Caesar's Palace Las Vegas Hotel and Ca...
Family-Owned MHG Hotels Grows by Watching Its Numbers
MHG Hotels | June 8, 2016
Hampton Inn, Choice, Holiday Inn, Marriott Courtyard Property Operator Has Daily Revenue, Expense and Other Hotel Data on The Desk by 9AM June 8, 2016 – MHG Hotels is a family business success story. The owner-operator started with one motel, and now operates 11 properties that include Wyndham, Marriott Courtyard and Springhill Suites, Holiday Inn and Choice brands. "We were doing well small, but the time was right for the Patel family to grow with brands," said Gary Maass, director of operations for MHG Hotels LLC. "We wanted a bigger view of the hotel industry and to expand our place in it. Hospitality is growing and we are gro...
Aztec Group Arranges $14.2M Re-Financing for the Marriott Courtyard Hotel in Raleigh, North Carolina
Aztec Group Inc. | June 6, 2016
Miami, Florida -- Aztec Group, Inc., Florida's leading real estate investment and merchant banking firm for the past 34 years, is pleased to announce that Managing Director, Boaz Ashbel, has arranged a $14.2 million refinance loan for the Courtyard by Marriott Hotel in Raleigh, North Carolina on behalf of Concord Hospitality Enterprises Company ("Concord"). The non-recourse loan was placed with a community bank and was very competitively priced. The hotel features 109 guestrooms, bistro, terrace lounge with fireplace, market, business center, meeting space, indoor climate-controlled pool, and fitness center. It is located with...
Paramount Lodging Advisors Sells Two Limited Service Hotels in Pittsburgh
Paramount Lodging Advisors | June 2, 2016
Paramount Lodging Advisors (PLA) is pleased to announce the sale of the Holiday Inn Express Harmarville and the Comfort Inn Meadowlands. PLA exclusively represented the seller with Managing Directors Bennett Webster and Brent Clemens, and Associate Omari Head leading the efforts on the transaction of the two properties. "This deal concludes three successful transactions in Pittsburgh in the prior three months. We continue to be pleased with the interest levels and believe there remains substantial pent up demand for limited and select service product in Allegheny and Washington County," noted Head. "These deals now bring our Ten-X Comme...
Pebblebrook Hotel Trust Completes Separate Sales of Viceroy Miami, The Redbury Hotel and an Excess Land Parcel Adjacent to Revere Hotel Boston Common
Pebblebrook Hotel Trust | June 2, 2016
BETHESDA, Md.--(June 1, 2016)--Pebblebrook Hotel Trust (NYSE: PEB) (the "Company") today announced that it has closed on the separate sales of Viceroy Miami in Miami, Florida for $64.5 million, The Redbury Hotel in Los Angeles, California for $40.9 million and an excess land parcel adjacent to Revere Hotel Boston Common in Boston, Massachusetts for $6.0 million. In May 2011, the Company acquired the 148-room, luxury, full-service Viceroy Miami for $36.5 million. The sale price of $64.5 million reflects a 17.7x EBITDA multiple and a 4.2% net operating income capitalization rate (after an assumed annual capital reserve of 4.0% of total ho...
Successful Louisville Transaction, Times Two: Paramount Lodging Advisors Completes Sale of IHG Kentucky Hotel Package
Paramount Lodging Advisors | May 31, 2016
Paramount Lodging Advisors (PLA) has closed on its third and fourth hotel transactions within the Louisville region over the past six months. PLA Managing Directors Adam Montufar, Bennett Webster, and Brent Clemens orchestrated the sale of both the Holiday Inn Express and Candlewood Suites in Radcliff, KY. The two hotels total 146 rooms and are located Southwest of Louisville, proximate to Fort Knox Army Base. The PLA team members exclusively represented the seller in this double transaction. "Paramount Lodging worked as the liaison between our group and the buyers. They did a fantastic job facilitating the tours of potential buyer...
Small hotels to benefit from the free-to-use Hospitality Technology product
eZee Technosys Pvt. Ltd. | May 30, 2016
Suite introduced by eZee, Surat, India - 31st May, 2016 Initiating a paradigm shift in the hotel industry, eZee Technosys launches eZee Ultimate allowing hoteliers across the globe to avail their top-notch hospitality technology platform- free of cost. The rise in the adoption of hospitality technology has changed the hospitality industry in the last decade. Hotel management operations, booking management and overall guest management has been greatly influenced by the technological advancements. Sadly, the technology adoption hasn't percolated to hospitality businesses of all sizes. Software vendors' apathy to small hotels, resistance t...
Fulcrum Hospitality LLC Appoints Veteran Hospitality Leader as Executive Vice President
Fulcrum Hospitality LLC | May 27, 2016
Prominent lodging industry expert Larry Kaminsky has joined Fulcrum's senior leadership team. New York, NY June 1, 2016 – This morning, Fulcrum Hospitality LLC ("Fulcrum") announced the appointment of hospitality industry veteran Larry Kaminsky to its senior leadership team as Executive Vice President. Mr. Kaminsky brings a 20-plus year background in hotel asset management and finance to Fulcrum's existing team of hospitality executives, and furthers Fulcrum's mission of dedicating senior-level leaders on every one its respective hotel engagements. Mr. Kaminsky was formerly the Senior Vice President of Asset Management at LaSalle ...
Natalie Munlin Named Sales Director for DoubleTree DFW Arlington South Reopening Fall 2016
Hotel Equities | May 27, 2016
Atlanta, GA–May 27, 2016 – Atlanta-based Hotel Equities announced Natalie Munlin as the Director of Sales for the soon-to-be-completely renovated DoubleTree by Hilton DFW Arlington South in Arlington, Texas. The property is strategically located in the Entertainment District of the Dallas-Ft. Worth metroplex at 1507 M. Watson Road in Arlington. It lies within a three-mile radius of the DFW Airport, Arlington Ball Park, Six Flags and the Dallas Cowboys stadium. The DoubleTree by Hilton DFW Arlington South will re-open in early Fall 2016 after completing a multi- million-dollar renovation that changed the hotel's brand to the ...
