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
Hospitality Start-up Pitch Competition, Entrepreneur 20X, to Return for Second Year at HITEC 2016
HFTP | March 2, 2016
Hospitality Financial and Technology Professionals adds seed fund to this year's competition AUSTIN, TX USA (March 2, 2016) — The incredibly successful hospitality start-up pitch competition, Entrepreneur 20X (E20X), will return for its second year at the world's largest hospitality technology conference, HITEC. Participants will compete for a $5,000 USD grand prize along with a kiosk in the Entrepreneur 20X pavilion. Leading global hospitality association, Hospitality Financial and Technology Professionals (HFTP®), producers of HITEC, are expecting another explosive year for E2X. "There was no question as to whether or not En...
HFTP Allied Partners to Hold Co-located Meetings with HITEC 2016
HFTP | March 1, 2016
AUSTIN, TX USA (March 1, 2016) -- Allied partners of global hospitality association, Hospitality Financial and Technology Professionals (HFTP®), will hold co-located conferences with the internationally known Hospitality Industry Technology Exposition & Conference (HITEC(SM)). HITEC, which will be held at the Ernest N. Morial Convention Center in New Orleans, La. USA, will be June 20-23, 2016. Co-located events include the International Hospitality Technology Association (iHITA) Annual Conference, Hospitality Sales & Marketing Association International's (HSMAI) Revenue Optimization Conference (ROC) and the American Hotel &a...
Pebblebrook Hotel Trust Names the 4th Annual Pebby Award Winners for the Year’s Best Hotels
Pebblebrook Hotel Trust | February 29, 2016
HOLLYWOOD, Calif.- Pebblebrook Hotel Trust (NYSE: PEB) (the "Company") today announced the winners of its fourth annual Pebby Awards. The Pebby Award winners were chosen for their outstanding accomplishments in 2015, as determined by the Company. "These awards highlight the commitment to excellence by our hotel management teams and their continued success exhibited in 2015," noted Jon Bortz, Chairman, President and Chief Executive Officer of Pebblebrook Hotel Trust. "Although there were many deserving performers, these award winners, working closely with our asset managers, accomplished outstanding results throughout the year." The cate...
Paramount Lodging Advisors Assists In Seventh Successful Indiana Transaction In Five Months
Paramount Lodging Advisors | February 29, 2016
Paramount Lodging Advisors (PLA) is pleased to announce the sale of the Holiday Inn Express Merrillville. PLA represented the seller, RLJ Lodging Trust, with Senior Managing Director Scott Griemsmann, and Managing Directors Bennett Webster and Brent Clemens leading the efforts on the transaction of the 62-room, limited service hotel. Clemens noted, "This deal marks PLA's seventh successful transaction in Indiana in the preceding five months, and maintains our team's continued success in the I-65 corridor from Chicago to Indianapolis." "We were pleased to assist RLJ in the disposition of one of their non-core assets and look forw...
WinStar World Casino Upgrades to InvoTech RFID Uniform Management System
InvoTech Systems, Inc. | February 26, 2016
Another InvoTech Customer Upgrades their Uniform System with RFID Technology for More Efficient Operations and Cost Saving Benefits LOS ANGELES, CA – Feb. 29, 2016 – InvoTech Systems, Inc. announced WinStar World Casino and Resort, owned and operated by the Chickasaw Nation in Oklahoma, is upgrading its uniform management and control processes with InvoTech's RFID Uniform System. WinStar has benefited from the control and accountability established by the InvoTech Uniform System since it was implemented in 2006. The RFID technology upgrade will provide additional cost-saving benefits by automating manual tasks that were prev...
Hotel Equities Selected to Operate Fairfield Inn & Suites by Marriott in Colorado Springs, Colorado
Hotel Equities | February 25, 2016
Atlanta, GA–February 25, 2016 – Atlanta-based Hotel Equities (www.hotelequities.com) recently announced its selection as the management firm for the Fairfield Inn & Suites by Marriott in Colorado Springs, Colorado. Catherine Ramirez serves as the General Manager. "Expanding our management portfolio into Colorado is of significant importance to our firm as we expand to the west," said Joe Reardon, Senior Vice President of Marketing and Business Development for Hotel Equities. "The Colorado Springs location appeals not only to Air Force Academy visitors and business travelers but to tourists and vacationers as well. O...
HITEC 2016 Online Registration and Housing Bureau Open
HFTP | February 24, 2016
Hospitality Industry Technology Exposition and Conference is set for June 20-23 in New Orleans, La. USA AUSTIN, TEXAS, USA (February 24, 2016) – Hospitality Financial and Technology Professionals (HFTP®), producers of HITEC, has announced that attendee registration and the housing bureau for the 2016 Hospitality Industry Technology Exposition and Conference (HITEC®) are now available online. HITEC is the world's largest hospitality technology exposition and conference. This year's event will be held at the Ernest N. Morial Convention Center in New Orleans, La. USA from June 20-23. "HITEC 2016 will once again be a great sho...
Hotel AG Announces January and February Closings
Hotel AG | February 24, 2016
ATLANTA – February 24, 2016 – Hotel AG announced today the firm has closed 8 hotel transactions since January 1st. The transactions included 4 full service and 4 select service hotels located across five regions of the US. The transactions comprise of a full service Marriott located in a major west coast market, a full service beach front hotel in Daytona, a Holiday Inn in Louisiana, a La Quinta in Houston, a Marriott branded hotel in the northeast, a classic boutique hotel located in a northeast river town and two other select service hotels located in the southern crescent. Hotel AG brokers involved in these transactions w...
Rainmaker Announces Strategic Partnership with Cvent During OPTIMIZE2016 User Conference
Rainmaker | February 24, 2016
Integration of Cvent's Lead Scoring and Rainmaker's grouprev® solutions streamlines lead processing for revenue managers ATLANTA – Feb. 23, 2016 – Complementing its innovative grouprev® product, The Rainmaker Group has entered into a strategic marketing agreement with Cvent, Inc. (NYSE: CVT), ensuring hospitality and gaming clients can more seamlessly prioritize and respond to group business leads from Cvent's cloud-based enterprise event management platform. Rainmaker and Cvent jointly announced the collaboration during Rainmaker's annual client conference, OPTIMIZE2016, last week in Miami, Fla. The agreement allows...
Pebblebrook Hotel Trust Reports Q4 2015 Net Income of $16.4 million Compared to $9.4 in the Year-Ago Quarter
Pebblebrook Hotel Trust | February 23, 2016
BETHESDA, Md.-- Pebblebrook Hotel Trust (NYSE: PEB) (the "Company") today reported results for the fourth quarter and year ended December 31, 2015 and announced it expects to increase its quarterly dividend on its common shares by 22.6 percent over the Company's current quarterly common dividend. The Company's results include the following: Fourth Quarter Full Year 2015 2014 2015 2014 ($ in millions except per share and RevPAR data) Net income (loss) to common shareholders $16.4 $9.5 $68.7 $47.8 Net income (loss) per diluted share $0.23 $0.13 $0.94 $0.71 Same-Property RevPAR(1) $197.13 $193.81 $205.42 $198.81 Same-Property RevPAR growth...
SiteMinder Wins with Choctaw Casinos
SiteMinder | February 23, 2016
Dallas, US – February 23, 2016 –The hotel industry's leading cloud platform, SiteMinder, has today secured a deal with Choctaw Casinos' lodging properties in Oklahoma, USA, to provide broadened distribution of the three properties' almost-1000 rooms online. The deal follows the recent multi million-dollar expansion of Choctaw Casino Resort in Durant and the group's plans for further growth. "With the increase in hotel rooms at the Choctaw Casino properties we needed to update our technology and expand our channels of distribution, in order to meet our growth needs," says Alfonso Rodriguez, director of revenue at Choctaw Casi...
Sonnenblick-Eichner Company Arranges $27,000,000 of First Mortgage Financing for Cedarbrook Lodge, SeaTac – Seattle, Washington
Sonnenblick-Eichner Company | February 23, 2016
Beverly Hills, California – February 23, 2016 – Sonnenblick-Eichner Company announced today that it has arranged $27,000,000 of first mortgage financing for the 167-room Cedarbrook Lodge, Sea-Tac - Seattle, Washington. The 10-year fixed rate, non-recourse financing was priced in the mid-4 percent range with interest-only payments for the entire term of the loan. The hotel is located on seven acres of restored natural wetlands and is less than two miles from SeaTac International Airport. Amenities at the hotel include over 17,000 square feet of state-of-the-art meeting space and a 1,600 square-foot fitness center. Additionall...
HFTP Sponsors Education Sessions at CMAA World Conference
HFTP | February 22, 2016
AUSTIN, TEXAS, USA (February 22, 2016) – Hospitality Financial and Technology Professionals (HFTP®) continues its partnership with the Club Managers Association of America by sponsoring two education sessions at the 89th World Conference on Club Management & Club Business Expo in San Diego, Calif. from February 21 to 25, 2016. The two HFTP sponsored sessions focus on drones and cyber security concerns for private clubs. "HFTP is thrilled to support CMAA at their world conference for another year," says HFTP CEO Frank Wolfe, CAE. "HFTP chooses to continue the strong partnership with CMAA each year because I believe in the v...
HFTP Teaming Up with Info-Tech Research Group to Offer Programs and Research to Members
HFTP | February 18, 2016
Info-Tech will provide HFTP members access to benchmarking and diagnostic programs along with research from the Gaming & Hospitality Research Center AUSTIN, TEXAS (February 18, 2016) – Global nonprofit association, Hospitality Financial and Technology Professionals (HFTP®), has partnered with information technology research and advisory company, Info-Tech Research Group to offer HFTP members a selection of one of Info-Tech's diagnostic programs free of charge, as well as access to leading research from the Gaming & Hospitality Research Center. "HFTP's partnership with Info-Tech Research Group is something I've really b...
Aptech Computer Systems Installed by The William Vale and HRI Lodging
Aptech Computer Systems, Inc. | February 18, 2016
23-Property HRI Lodging Implements Execuvue®, Targetvue and Profitvue® to Support Growth Pittsburgh, PA – February 18, 2016 – Aptech Computer Systems announced HRI Lodging with 23 properties implemented Aptech's Execuvue Enterprise Business Intelligence, Targetvue Budgeting and Forecasting, and Profitvue Financial Accounting. The William Vale, a new-build full service luxury hotel in Brooklyn NY installed Profitvue to manage pre-opening financial processes. Aptech is the leading provider of hospitality software for business intelligence, budgeting, and enterprise financial accounting. Click here for more on Aptech's ...
Hotel Equities Selected to Manage Atlanta/Airport Full Service Hotel and its Conversion to a Four Points by Sheraton
Hotel Equities | February 16, 2016
Atlanta, GA–February 16, 2016– Atlanta-based Hotel Equities recently announced its selection as the management firm that will also assist in the design and processing of the renovation of the 190-key full service hotel off Camp Creek Parkway to a Four Points by Sheraton, a Starwood brand. Located at 3520 North Desert Drive, at Camp Creek Parkway and I-285, the hotel will undergo a multi-million-dollar renovation during the next six months for a mid-summer opening. The hotel will feature over 5,000 square feet of meeting space, a new restaurant concept and well-appointed rooms and suites making it an ideal spot for both busin...
Pearl River Resort Selects Duetto’s GameChanger Solution
Duetto | February 16, 2016
GameChanger Helps Pearl River Make the Right Pricing Decisions to Attract and Retain the Most Profitable Customers February 16, 2016 -- Duetto, the market leader in hotel and casino profit optimization technology, announced that Pearl River Resort has selected its GameChanger Revenue Strategy Solution to bring new price optimization capabilities to the 1,220 room integrated resort in Choctaw, Mississippi. John Katapodis, Exec. Director Hotel Operations said, "We are impressed at Duetto's ability to offer true dynamic pricing by day, segment, and room type, a real innovation — while having the flexibility to work with us as w...
LodgIQ Unveils Its Next-Generation Revenue Optimization Platform for Travel; Secures $5 Million in Seed Funding Led by Highgate Ventures
| February 16, 2016
NYC-based startup launches industry first predictive analytics and true machine learning platform NEW YORK, February 16, 2016 – LodgIQ™, which is firmly committed to bringing the discipline of revenue optimization into the 21st century, today announced the official launch of the company and its platform. LodgIQ RM™ is a next-generation revenue optimization platform for the hospitality industry developed by seasoned travel executives and Silicon Valley technologists. The NYC start-up has secured $5 million in seed funding led by Highgate Ventures, a venture capital platform focused on early stage technology investments ...
IHG and Proud Resort Phuket Co., Ltd Partner for New Intercontinental Phuket Resort
IHG | February 15, 2016
15 February, 2016 - IHG® (InterContinental Hotels Group) today announced the signing of a management agreement with Proud Resort Phuket Co., Ltd to develop InterContinental Phuket Resort, as part of a luxury community project, MontAzure, in the most exclusive area on Phuket's stunning west coast marking InterContinental Hotels & Resorts' debut on Thailand's largest island. Scheduled to open in 2019, the luxurious InterContinental Phuket Resort is located on Kamala Beach, between Millionaire's Mile and the Amanpuri headland, one of the island's most popular destinations and perfect for travellers looking for a relaxing and luxuri...
EB-5 Financing Accelerates in 2016 and Favors (1) Hotels, (2) Mixed-Use and (3) Multifamily as Top 3 Targets for EB-5 Funding
Jim Butler | February 10, 2016
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 10 February 2016 Hotel Lawyer in Los Angeles at the latest EB-5 Summit If you have been thinking about tapping into EB-5 financing for your development project, this is the time to make your decision and act quickly. If you need background on what the EB-5 program is about, how it has gone mainstream with institutional investors for several years, and is now providing a steady stream of reliable capital, please see the articles referenced at the bottom. We think that JMBM's Global Hospitality Group® EB-5 financing team has a pretty go...
HFTP to Assist Open Travel Alliance with Hospitality and Travel Object Oriented Platforms
HFTP | February 8, 2016
AUSTIN, TEXAS USA (February 8, 2016) — Hospitality Financial and Technology Professionals (HFTP®) announced today that they will assist the Open Travel Alliance with their new 2.0 Object Oriented Platform in the lifestyle development areas of golf and spa. These development areas have been prioritized by the Open Travel Alliance for development during 2016. "Many members of HFTP represent the golf and spa segments," said HFTP CEO Frank Wolfe, CAE. "As a matter of fact, HFTP has won numerous awards and acknowledgements for our contributions to the club industry and the more support we can provide to make the industry better for...
Hotel Lenders Tightening the Screws
Fitch Ratings | February 8, 2016
Fitch Ratings-New York-08 February 2016: Hotel owners will encounter a more challenging debt financing environment during 2016 as lenders respond to the broad repricing of risk (higher) across most debt capital markets and new regulations, says Fitch Ratings. 'Borrowers can expect higher interest rates and tighter underwriting standards for loans backed by hotel collateral as lenders adapt to more challenging debt capital markets conditions,' said Stephen Boyd, Director of Lodging and REITs at Fitch. Sponsor quality will distinguish hotel debt capital access for the balance of this upcycle. 'Unlike loans made earlier in this...
Hospitality Funding Arranges $6.175 Million Acquisition Loan for Bonita Springs Hotel
Hospitality Funding | February 8, 2016
Firm secures attractive financing terms on 10-year mortgage Bonita Springs and Palm Beach, Fla. – (Feb. 8, 2016) — Hospitality Funding, a Palm Beach-based boutique financial advisory firm, has facilitated a 10-year, $6.175 million loan for the owner of the La Quinta Inn & Suites Bonita Springs/Naples North in Bonita Springs, Fla. The fixed-rate loan is secured by the 87-room hotel at 28600 Trails Edge Road. An affiliate of Waramaug Hospitality is the owner of the hotel. Waramaug is a privately held investment group that focuses on acquiring legacy branded assets throughout the United States. Hospitality Funding Chairman...
Hotel Development Partners Bringing New Residence Inn to the Perimeter Area, North of Atlanta
Hotel Development Partners | February 2, 2016
ATLANTA – One of the last undeveloped quadrants along the Perimeter business district's primary commercial corridor is under construction. Owned and developed by Hotel Development Partners, the 4.8-acre site that surrounds the existing Spruill Center for the Arts is soon to be home to the area's newest Marriott-branded hotel, an internationally renowned Brazilian steakhouse and other dining and shopping amenities. The Shopping Center Group is leasing the site that is located at the signalized intersection of Ashford Dunwoody and Meadow Lane Roads. "Ashford Dunwoody continues to serve as the Perimeter market's primary commercial co...
