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
The 92-suite Residence Inn Lake Charles in Louisiana is Now Open for Business
Residence Inn by Marriott | December 28, 2015
Lake Charles, Louisiana - December 28, 2015 - The 92-suite Residence Inn by Marriott in Lake Charles, Louisiana is now open for business. Located at 1591 West Prien Lake Road, the all-suite Residence Inn Lake Charles will operate as a Marriott franchise, owned by LA Creole Hospitality 1 and managed by Hotel Equities of Atlanta, Georgia. Located just minutes from downtown Lake Charles and five miles from Chennault International Airport, the Residence Inn Lake Charles offers its guests convenient access to the Golden Nugget Casino and L'Auberge Casino Resort. "We are pleased to introduce Residence Inn hotels in the Lake Charles a...
U.S. Hotel Openings Forecast to Accelerate in the Next Two Years According to Lodging Econometrics
Lodging Econometrics | December 28, 2015
Dec. 28, 2015 - PORTSMOUTH, NH - Analysts at Lodging Econometrics (LE) report that new hotel openings in the United States will accelerate over the next two years. This year the U.S. is scheduled to open a total of 742 new hotels. Based on the current construction Pipeline, 845 hotels are forecast to open in 2016 with another 998 hotel openings in 2017. LE says that the growth in new hotel openings from 2016 to 2017 will be led by three major franchise companies, which are forecast to brand 67% of all new openings: Marriott International with 456 hotel openings, Hilton Worldwide with 406, and Intercontinental Hotels Group (IHG) with 374....
EB-5 Immigrant Visa Program Extension Signed Into Law — Without Any Changes
Jim Butler | December 22, 2015
EB-5 financing continues for new development projects. By Jim Butler and the Global Hospitality Group® December 2015 Hotel lawyer with great news for developers: the EB-5 immigrant visa financing program has been renewed — approved by Congress and signed by the President. It is being continued without change through September 30, 2016. A funny thing happened on the way to the 2016 Federal budget approval last week. One of the "riders" to the omnibus appropriations bill was the EB-5 legislation sponsored by Senators Leahy and Grassley. For months preceding the scheduled Congressional action, many stakeholders in the EB-5 indust...
U.S. Hotel Construction at Highest Point Since 2009
Lodging Econometrics | December 22, 2015
Dec. 22, 2015 - PORTSMOUTH, NH - According to a recent United States Construction Trend Report from Lodging Econometrics, the total Pipeline is at 4,055 Projects, the highest point since the second quarter of 2009. There are 1,192 Projects currently Under Construction, up 12% Year-Over-Year (YOY). Projects scheduled to Start in the Next 12 Months have shown even greater growth, up 28% YOY, and are now at 1,755 Projects. Projects Under Construction and projects scheduled to Start in the Next 12 Months are both at their highest points since 2009. Projects in Early Planning, up 3% YOY, has 1,108 projects. ...
Missouri’s Joplin Hotel Begins $6 M, Full-Scale Renovation to Convert to DoubleTree by Hilton
Hotel Equities (HE) | December 22, 2015
A late April 2016 opening is planned for the hotel owned by Conor Acquisitions Group and managed by Hotel Equities. Atlanta, GA - December 22, 2015 - The Joplin Hotel began a $6 million, full-scale renovation process this week to convert the property to a DoubleTree by Hilton hotel. Conor Acquisitions Group, owner of the hotel, plans to reconfigure the guest rooms, meeting space and public areas of the five-story iconic hotel building on East Hammons Boulevard in central Joplin, Missouri. They anticipate a Grand Opening celebration in late April 2016. In June 2015, Conor tapped Atlanta-based Hotel Equities, their management partner, to ...
Duetto to Provide Revenue Strategy Solutions for Classic Hotels & Resorts
Duetto | December 21, 2015
Duetto Brings Game-Changing Open Pricing and Price Optimization Capabilities to Nearly 1,000 Rooms at Five Classic Luxury Resort Hotels New York, December 21, 2015 – Duetto, the market leader in hotel profit optimization technology, announced today that it will implement its revenue strategy solutions for Classic Hotels & Resorts, bringing new insights on pricing and demand to the luxury hotel collection, which has exclusive resort hotels in Arizona and California. Duetto will launch its services at hotels in five timeless destinations encompassing nearly 1,000 rooms, beginning with the 744-room Arizona Grand Resort & Spa...
Hotel Equities Selected to Operate Fairfield Inn & Suites by Marriott to be Built in Terrell, Texas
Hotel Equities | December 21, 2015
Scenic Capital Advisors to break ground in Q2 2016 with a Q1 2017 opening planned. Atlanta, GA - December 21, 2015 - Atlanta-based Hotel Equities (www.hotelequities.com) recently announced its selection as the management firm for the new-build Fairfield Inn & Suites by Marriott at 351 Market Center Drive, Terrell, Texas. Located less than 30 miles east of Dallas, just off U.S. Route 80, the hotel is convenient for business travelers and tourists as well. "Expanding our management portfolio deeper into the heart of Texas is of significant importance to our firm," said Joe Reardon, Vice President of Marketing and Business D...
Hotel Equities Names Peter Conway Asst General Manager for the Residence Inn Miami Beach/Surfside
Hotel Equities | December 17, 2015
ATLANTA, GA (December 16, 2015) – Atlanta-based Hotel Equities (HE) named Peter Conway the Assistant General Manager for the $52 million Residence Inn by Marriott Miami Beach/Surfside, Florida. The unique, resort-style hotel with 175 suites is scheduled to open in March 2016. Hotel Equities has an ownership position in the project and manages the upscale property for their JV partner, Hotel Development Partners (HDP) of Atlanta. Mr. Conway reports directly to General Manager Sean McKeen to assist with pre-opening duties including sales and marketing and departmental hiring His ongoing responsibilities include overall management of...
Atlanta Leads All U.S. Markets in Transaction Volume
Lodging Econometrics | December 17, 2015
Dec. 17, 2015 - PORTSMOUTH, NH - Lodging Econometrics (LE) reports that Atlanta has had the most hotel sales of any U.S. market over the last three years. Atlanta logged 42 sales in 2013 with a reported selling price, 30 sales in 2014 and 25 sales through the third quarter of 2015. These 25 sales had an Average Selling Price Per Room (ASPR) of $74,446 and because Atlanta has a larger preponderance of mid-market hotels in its census mix, compared to many northern tier markets, it normally has a lower average selling price per room than the national average, said LE. ...
U.S. Hotel Construction Pipeline Posts Nine Straight Quarters of YOY Growth
Lodging Econometrics | December 11, 2015
Dec. 11, 2015 - PORTSMOUTH, NH - Lodging Econometrics reports that the U.S. Hotel Construction Pipeline has posted nine straight quarters of Year-Over-Year (YOY) growth and recorded increases of at least 10% YOY for the last five quarters. The Construction Pipeline is now at 4,055 Projects/503,935 Rooms, up 15% YOY by projects and 14% by rooms compared to a year ago. ...
Westgate Resorts Breaks Marketing and Revenue Management Rules with nSight Predictive Analytics
nSight | December 10, 2015
nSight empowers world-class developer to improve revenue management practices and leverage consumer demand for future arrival dates NASHVILLE, TN (December 10, 2015) nSight, the leader in online consumer shopping intelligence for hotels and destinations, today announced the addition of the full Westgate Resort portfolio to their already impressive client roster. Westgate Resorts, one of the largest resort developers in the world and an innovator in revenue management, has selected nSight to drive market share and improve overall RevPAR for its resorts in Florida, Tennessee, South Carolina, Missouri, Utah, Nevada, and Arizona. "Maximizin...
Outlook 2016: New Rules for Developers Raising Inexpensive Capital with EB-5 Financing for Hotels
Jim Butler | December 9, 2015
By Jim Butler and the Global Hospitality Group® December 2015 Hotel Lawyer preview of the new EB-5 financing rules. Although minor tweaks and adjustments continue to be made to legislation in the final hours before Congress votes, it looks like we have a pretty good idea of what the new rules will be for EB-5 financing. Top takeaways for developers are: The EB-5 regional center program will be extended for 5 years Developers will be able to raise 60% more EB-5 capital on the same number of jobs Minimum investment will be raised to $800,000 (not expected to deter investors) TEAs will be forced into a "modified California model" ...
BN Management and Hotel Equities Open New 123-Room Courtyard by Marriott in Gretna, Louisiana
Courtyard by Marriott | December 8, 2015
Gretna, Louisiana – December 8, 2015 – Courtyard by Marriott New Orleans Westbank/Gretna is scheduled to open its doors today. Featuring an innovative lobby space as well as Courtyard's latest contemporary room design, the new hotel provides flexibility and choices that allow guests to optimize and elevate their travel experience. Located at 5 Westbank Expressway, the 123-room hotel will operate as a Marriott franchise, owned by BN Management, LLC and managed by Hotel Equities of Atlanta, Georgia. Whether traveling for business or pleasure, the Courtyard New Orleans Westbank/Gretna offers guests convenient access to downtown...
Leeny Oberg to Succeed Retiring Carl Berquist as Chief Financial Officer for Marriott
Marriott International, Inc. | December 7, 2015
BETHESDA, Md., Dec. 7, 2015 -- Marriott International, Inc. (NASDAQ: MAR) announced today that Carl Berquist, Marriott's executive vice president and chief financial officer for the past seven years, will retire as CFO on December 31, 2015, remaining with the company as a special adviser through March 2016. Leeny Kelly Oberg, a 16-year Marriott veteran, and currently chief financial officer for The Ritz-Carlton Hotel Company, LLC, a wholly-owned subsidiary of Marriott, will become Marriott's chief financial officer on January 1, 2016, succeeding Mr. Berquist. Mr. Berquist's leadership has been instrumental in the company'...
4th Annual Revenue Strategy Summit (RSS) Slated for July 7, 2016 at the Renaissance Washington, D.C.
the Revenue Strategy Summit (RSS) | December 7, 2015
Innovators Will Gather to Confront the Hotel Industry's Biggest Profitability Challenges Washington, DC – December 7, 2015 —Hotel industry innovators and thought leaders will converge on Washington, D.C. on July 7, 2016 for the fourth annual Revenue Strategy Summit (RSS). The annual event examines the forces reshaping the hospitality industry and how marketing and technology can evolve to meet these new challenges. RSS 2016 will be held at the Renaissance Washington, D.C. Downtown Hotel. "Over the past few years, RSS has become an unmatched laboratory for new ideas shaping the future of hospitality," said Patrick Bosworth, C...
Hotel Equities Celebrates Opening of Fairfield Inn & Suites by Marriott Buford, GA
Hotel Equities | December 3, 2015
Atlanta, GA–December 3, 2015 – Atlanta-based Hotel Equities recently held a Grand Opening and Ribbon Cutting for the 96-room Fairfield Inn & Suites by Marriott hotel at 1355 Mall of Georgia Boulevard in Buford, Georgia, just north of Atlanta. Lauren Cato serves as General Manager and Malinda Foster is Director of Sales. Hotel Equities has an ownership position in the hotel and helped direct the property's multi-million dollar conversion/renovation to the latest generation of Marriott's highly successful Fairfield Inn & Suites brand. Hotel Equities is also an investor in the Courtyard by Marriott Buford, located just ...
Lodging Econometrics Reports Hilton’s Hampton Inn & Suites Sales Transactions Lead All Brands
Lodging Econometrics | December 3, 2015
Dec. 3, 2015 - PORTSMOUTH, NH - Analysts at Lodging Econometrics report that there were 97 Hilton Hampton Inn & Suites sold through the third quarter of 2015, triple the number sold for all of 2014. Hampton Inn & Suites accounts for 45% of all Upper Midscale hotel sales for the first nine months of 2015 with an Average Selling Price Per Room (ASPR) of $117,253, well above the $104,516 average recorded for all Upper Midscale hotels. Hampton Inn & Suites also has 312 projects in the U.S. Hotel Construction Pipeline, representing 20% of all new construction in the Upper Midscale category. ...
Duetto to Provide Revenue Strategy Solutions for Coast Hotels USA
Duetto | December 3, 2015
New York, December 3, 2015 – Duetto, the market leader in hotel profit optimization technology, announced that it will implement its revenue strategy solutions for Coast Hotels USA, bringing new insights on pricing and demand to one of North America's fastest growing hotel brands. Duetto will launch its solutions in all of Coast's owned and managed hotels, encompassing more than 800 rooms, at Coast USA destinations including Oregon, Washington and Hawaii. "We are very happy to announce this agreement with Coast Hotels USA, an innovative and rapidly expanding brand in North America," said Duetto CEO Patrick Bosworth. "In a fast-pac...
nSight Welcomes sbe’s Portfolio of Award-Winning Hotels to its List of Independent Hotel Groups
sbe | December 2, 2015
Predictive consumer analytics give boutique properties a digital marketing and revenue management advantage by anticipating buyer behavior NASHVILLE, TN (December 2, 2015) nSight, the leader in online consumer shopping intelligence for hotels and destinations, today announced that sbe, a global hospitality and entertainment company, is using nSight's predictive marketing and revenue management intelligence platform across its portfolio. Known as an innovative lifestyle brand, sbe leverages nSight's forward-looking consumer shopping data to improve digital ROI and support business development initiatives. "nSight's ability to show us ho...
US Hotels Selling at Record Highs with Average Selling Price Per Room (ASPR) of $165,303
Lodging Econometrics | December 1, 2015
Dec. 1, 2015 - PORTSMOUTH, NH - According to a recent United States Transactions Trend Report from Lodging Econometrics, through September there were 827 hotel sales with reported selling prices with an Average Selling Price Per Room (ASPR) of $165,303, an all-time high. The ASPR is 11% higher than the $148,658 recorded for year-end 2014. The 2015 ASPR is strongly influenced by five transactions that have sold for more than $1,000,000 per room: in New York City the Baccarat at $2.0 million and the Waldorf Astoria at $1.4 million per room; in California the Malibu Beach Inn at $1.7 million per room and the Montage at Laguna Beach and the...
Hotel Equities Names Lee Smith as General Manager for Hyatt Place Savannah Airport in Georgia
Hotel Equities (HE) | November 30, 2015
An engaged innkeeper with nearly 20 years of hospitality experience, Mr. Smith creates memorable experiences for his guests. Atlanta, GA - November 30, 2015 - Atlanta-based Hotel Equities announced the hiring of Lee Smith as the General Manager of the Hyatt Place Savannah Airport hotel located at 4 Stephen S. Green Drive in Savannah, Georgia. Mr. Smith has responsibility for overseeing the management of all operations at the hotel including food & beverage concepts plus sales, marketing and revenue management strategies. The all-suites hotel is conveniently located only two miles from the Savannah Hilton Head International Airport ...
Marriott Accounts for Almost Half of all Upscale Hotel Sales Reports Lodging Econometrics
Lodging Econometrics | November 25, 2015
Nov. 25, 2015 - PORTSMOUTH, NH - Through Q3 2015, the research and analysis department at Lodging Econometrics has tracked the sale of 227 Upscale hotel sales with a reported selling price in the United States and found that Marriott branded properties accounts for 49% of them. Under the Marriott umbrella there were 51 Residence Inns sold, 44 Courtyards and 17 Springhill Suites. Residence Inns had the highest Average Selling Price Per Room (ASPR) of Marriott's Upscale brands at $148,738, compared to an overall Upscale ASPR of $137,583. ...
The Marriott-Starwood Merger’s Impact on Owners, Franchisees and Developers
Robert E. Braun | November 25, 2015
By Jim Butler and the Global Hospitality Group® | Authors of www.HotelLawBlog.com November 2015 As the biggest merger in the history of the hospitality industry, the Marriott-Starwood merger, is grabbing headlines worldwide. Most of the recent press has focused on the sheer size of the potential transaction. But in his article below, my partner and hotel lawyer Bob Braun, considers the practical impact of the merger on hotel owners, franchisees and developers. With the loss of the Starwood family of brands as an independent and significant competitive force in the industry, the merger will bring mixed blessings to stakeholders. The ...
Hotel Transactions Trending Toward an 8-Year High
Lodging Econometrics | November 23, 2015
Nov. 23, 2015 - PORTSMOUTH, NH - Lodging Econometrics noted that through the third quarter of 2015 there were a reported 1,175 individual hotel and portfolio transactions (excluding merger & acquisition activity) in the U.S. compared to 1,018 in 2014. It means that the number of transactions in 2015 are likely to close at an eight-year high, but the final count will still be approximately 25% lower than the peak established in 2007. ...
