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Finance & Development
Hilton Worldwide Honors Top Hotel Owners in the Americas with Annual Development Awards
Hilton Worldwide | August 31, 2015
McLean, Va., August 31, 2015 — Hilton Worldwide (NYSE: HLT) today announced honors for its top annual development awards in the Americas. Awards are presented in five categories across the company's portfolio of hotels, including: Developer of the Year, Best Conversion, Deal of the Year, Outstanding Achievement and Lifetime Achievement. Recipients are recognized based on criteria ranging from total number and quality of hotels developed to impact on community and fastest construction time. Once nominated, the finalists are chosen by Hilton Worldwide's global brand heads. "We are proud to celebrate the achievements of these valued ...
The Internet of Things: The Impact on the Travel and Hotel Industry
Alan E. Young | August 26, 2015
Converging Technologies for Smart Environments By Alan E. Young The Internet of Things (IoT) is a relatively large topic that is widely circulating around these days, but I think it is very important to point out its practical implementations. According to HOSPA in 2013 there was one device connected to the internet per person on earth. They forecast that by 2020, this number will increase to 9 devices per person. Currently, 80 'things' connect to the internet every second but we will see this figure rise to more than 250 'things' connected to the internet every second in just the next few years. This trend will have a huge impact on th...
HFTP, Global Hospitality Association, Announces Release of New Valuable Industry Resource
HFTP | August 26, 2015
AUSTIN, TEXAS (August, 26, 2015) — Today, Hospitality Financial and Technology Professionals (HFTP), a global association created to further the knowledge and advancement of industry professionals, announced an exciting new service to its members and the industry at large — a fully searchable directory of consultants specializing in accounting, finance, technology, human resources and legal issues. "HFTP is asked for lists of members with competencies in special areas that are available for consulting engagements on almost a daily basis", said HFTP CEO Frank Wolfe, CAE. "While we do not endorse any consultants or companies, we do tr...
Hotel Equities Selected to Manage Courtyard Lake Placid, NY and Hampton Inn Bennington, VT
Hotel Equities | August 25, 2015
Atlanta, GA–August 26, 2015 – Atlanta-based Hotel Equities recently announced its selection as the management firm for the Courtyard by Marriott in Lake Placid, New York and the Hampton Inn by Hilton in Bennington, Vermont. Gordon Properties, based in Albany, New York, owns both hotels. Located in scenic resort areas, the hotels draw both leisure and business guests throughout the year. The 96-room Courtyard by Marriott Lake Placid delivers a wide variety of amenities and friendly service with a welcoming "Adirondack" ambiance. The Hampton Inn by Hilton Bennington, nestled between the Green and the Taconic Mountains, offers proximi...
Conor Acquisitions Purchases 96-room Courtyard by Marriott East Lenox Park in Memphis, Tennessee
Hotel Equities | August 20, 2015
Fort Myers, FL and Memphis, TN–August 20, 2015 –Conor Acquisitions recently announced the purchase of the 96-room Courtyard by Marriott East Lenox Park in Memphis, Tennessee. Jonathan Williams serves as the General Manager. "The acquisition of this hotel reinforces our commitment to create a truly nationwide presence for Conor," said Mike Patel, Conor's Chief Investment Officer. "We are looking for value-added properties beyond the southeast that will both benefit their local communities and afford Conor many opportunities for success. "Because of Conor's unique ability to reposition and convert projects, we have a strong vision for...
Make It Dirty, Make It Clean
Alan E. Young | August 12, 2015
By Alan E. Young, President and Co-Founder of Puzzle Partner I have been honored to work for some amazing CEO's in my career. They all had one thing in common, other than their strong leadership skills and their inspiring, visionary aptitude. They understood the need to be first and fast. Having had the privilege to work for Charles Philips (Infor), Larry Hall (Springer-Miller) and Ben Jost (TrustYou), I learned a great deal from each of them. Though these three companies all have different products and sometimes focus on different markets, they all develop software - and in today's ever-changing technological landscape, they all unders...
Hotel Equities Names Humberto ‘Bert’ Allegue Director of Sales at Residence Inn Miami Beach/Surfside
Hotel Equities | August 11, 2015
ATLANTA, GA (August 11, 2015) - Atlanta-based Hotel Equities (HE) www.hotelequities.com named Humberto "Bert" Allegue the Director of Sales for the Residence Inn by Marriott Miami Beach/Surfside, Florida. The unique, resort-style hotel with 175 suites is scheduled to open in late fall 2015. Mr. Allegue has responsibility for initiating sales and implementing the marketing strategy for both corporate and leisure market sales for this one-of-a-kind Residence Inn. He generates new business and builds relationships with clients by capitalizing on the hotel's unique amenities and services. Mr. Allegue works closely with Sean McKeen, the hote...
Hotel Development Partners & Ares Management Acquire Three Hotels in Charleston, S.C.
Hotel Development Partners | August 11, 2015
Transaction Brings Total Hotels Jointly Owned by HDP & Ares to 10 August 11, 2015 - ATLANTA & LOS ANGELES - Hotel Development Partners (HDP) and funds managed by the real estate group of Ares Management, L.P. (NYSE:ARES) recently announced the purchase of three select service hotels with a total of 248 rooms in North Charleston, South Carolina. The well-positioned hotels include two carrying the Marriott brand—the Residence Inn by Marriott Charleston North/Ashley Phosphate and the Fairfield Inn & Suites by Marriott Charleston North/Ashley Phosphate—as well as a third that is part of the Choice Hotels portfolio of brands...
Transaction Volume Moves Higher. Earnings Are Robust
Lodging Econometrics | August 10, 2015
August 10, 2015 - PORTSMOUTH, NH - Hotel transaction volume increased modestly in the first half of 2015 as privately held equity funds and hotel companies continued their disposition strategies. For 1H 2015 transactions and property transfers trended upward to 807 hotels caused by a substantial increase in portfolio sales. Single-asset transactions actually declined for the period and there was no M&A activity recorded. Investors are basking in the fifth consecutive year of double-digit earnings growth and although the rate of growth is slowing. They do not foresee a top-out of earnings for a least another two to three years. Howe...
Disruption in the Hotel Industry is Increasing at an Exponential Pace, say Leaders at 3rd Annual RSS
Duetto | August 7, 2015
Powered by Duetto, RSS Draws More than 300 to Discuss Revenue Strategy as a Key to Hotel Profitability in Today's Dynamic Marketplace New York, August 7, 2015 ... A bellwether annual event for the travel technology community, the Third Annual Revenue Strategy Summit (RSS) drew more than 300 industry leaders to the Affinia Capitol Liaison Washington, D.C. July 29th, for a one-day conference that examined the latest trends in hotel distribution, sales, price optimization, acquisition costs and marketing. The day began with a panel on the disruption threatening the hotel industry and ended with a look at the global forces causing what thin...
Hotel Development Partners & Ares Management Acquire Three Hotels in Charleston, S.C.
Hotel Development Partners | August 6, 2015
ATLANTA, GA & LOS ANGELES, CA (August 6, 2015) – Hotel Development Partners (HDP) and funds managed by Ares Management, L.P. (NYSE: ARES) recently announced the purchase of three select service hotels with a total of 248 rooms in North Charleston, South Carolina. The well-positioned hotels include two carrying the Marriott brand—the Residence Inn by Marriott Charleston North/Ashley Phosphate and the Fairfield Inn & Suites by Marriott Charleston North/Ashley Phosphate—as well as a third that is part of the Choice Hotels portfolio of brands. Clustered together in an area just 15 minutes from Historic Downtown Cha...
JLL Reports Hotel Transaction Volumes Have Hit a New High: A Video Report
JLL | August 5, 2015
CHICAGO, LONDON, SINGAPORE, August 5th, 2015 – 2015 is on track to be a record year for foreign investment into hotels says JLL (NYSE: JLL) as the company announces that global hotel transactions reached US$42 billion in the first half of the year driven by a wealth of foreign investment. The largest total deal volumes in the first half of the year were witnessed in the Americas at US$24 billion, up 73% year-on-year (y-o-y). This is followed by EMEA, up 55% to US$15 billion, whilst the Asia Pacific region saw a slight decline in investment volumes, down 6% to US$4 billion. Whilst American private equity funds remain the largest source...
Hotel Equities to Manage SpringHill Suites by Marriott Navarre Beach on the Florida Panhandle
Hotel Equities | August 5, 2015
Atlanta, GA–August 5 2015 – Atlanta-based Hotel Equities (www.hotelequities.com) recently announced its selection as the management company for a $30 million, 161-room SpringHill Suites by Marriott in Navarre Beach on the Florida panhandle. Located at 8375 Gulf Boulevard, the six-story hotel will provide a one-of-a-kind experience for leisure and business travelers alike. American Fidelity Life Insurance Company (AFLI) serves as the hotel's development company and is known for its community vision and for developing impressive custom-built hotels with a strong focus on beachfront properties. This unique, resort-style SpringHill Suit...
Hotel AG Appoints Co-Presidents
Hotel AG | August 4, 2015
ATLANTA - August 4, 2015 - Hotel Assets Group, LLC (Hotel AG) is pleased to announce today that Brad Sinclair and Andrew Broad have been appointed as co-presidents of the firm. "This is a strategic move for Hotel AG and one that I believe to be a catalyst for the firm's future," commented H. Keith Thompson, Hotel AG founder and principal. Thompson added, "The firm has seen significant growth since its inception and has continued to establish itself as one of the most prominent hotel brokerage firms in the US. Over the past three years, Hotel AG has added strategic offices in Los Angeles, Chicago, New York, Tampa and Portland; with Washi...
Pebblebrook Hotel Trust Selects Viceroy Hotel Group to Manage The Prescott Hotel in San Francisco
Viceroy Hotel Group | August 3, 2015
LOS ANGELES, August 3, 2015 -- Effective July 28, 2015, Viceroy Hotel Group is now managing The Prescott in San Francisco, California located at 545 Post Street. The hotel is owned by Pebblebrook Hotel Trust. The boutique property, boasting 164 guestrooms, will continue to operate as The Prescott until it closes for renovation later this year. The same great team remains at the hotel and from Viceroy's perspective, it is business as usual. All guest reservations made prior to the management transfer will be honored. "We are thrilled to welcome The Prescott to Viceroy Hotel Group's collection of iconic and lifestyle hospitality experienc...
HFTP-supported Research Reveals Guests’ Willingness to Disclose Personal Information to Hotel Apps
HFTP | August 3, 2015
August 3, 2015 (Austin, Texas) — A study supported by Hospitality Financial and Technology Professionals (HFTP), reveals that only 34 percent of guests would disclose personal information, in general, on a hotel app; but drilling down through the responses, the positives increased based on whether a specific detail would impact a hotel stay. The factors that influenced a guest's willingness to reveal information include: benefit of disclosure, positive emotion and trust in app. The study's details, authored by Agnes DeFranco CHAE, Ed.D. and Cristian Morosan, Ph.D., both of the C.N. Hilton College, University of Houston, are now widely...
Professional Development Association Awards 1500th Hospitality Accountant Certification
HFTP | July 30, 2015
July 30, 2015 (AUSTIN, TEXAS) — On July 28, 2015 Hospitality Financial and Technology Professionals (HFTP®), a nonprofit professional development association based in Austin, Texas, USA, awarded the 1500th Certified Hospitality Accountant Executive (CHAE) designation to an individual who successfully met all of the requirements and passed the CHAE exam. Mrs. Danqing Liu, CHAE, an instructor at Florida International University's offshore program at Tianjin University of Commerce in China, is the individual honored with this distinction. "The CHAE program has grown by leaps and bounds since its inception and HFTP is honored to be able ...
Hotel Equities Promotes Elizabeth Derby, Jeff Shockley to Expanded Roles
Hotel Equities | July 28, 2015
ATLANTA, GA (July 28, 2015) – To support its unprecedented growth in 2015, Atlanta-based Hotel Equities (HE) www.hotelequities.com announced promotions and the expansion of leadership roles for Elizabeth Derby and Jeff Shockley, two of its key executives. The firm promoted Elizabeth Derby to Vice President of Talent and Performance Excellence. Jeff Shockley increases his focus on owner relations and retains the title of Vice President of Acquisitions & Financial Analysis. In a role critical to the firm's growth, Ms. Derby oversees the transitioning of hotels into the portfolio through operations, onboarding and retention of talent...
IDeaS Drives Improved Revenue Management for Serviced Apartment Specialist Staycity
IDeaS | July 28, 2015
LONDON – July 28, 2015 – IDeaS Revenue Solutions, the leading provider of revenue management software solutions and advisory services, today announced a major revenue management initiative with Staycity, one of Europe's fastest growing serviced apartment operators. "Staycity is expanding at a rapid pace, so working with such a dynamic company is very exciting for IDeaS. The serviced apartment sector is one of the most competitive in Europe's growing accommodation market, and IDeaS has the tools to help Staycity maximise its potential. By automating much of its workload, IDeaS RMS helps Staycity keep up with today's fast-moving and r...
IHG Signs Sixth InterContinental® Hotel in France: InterContinental® Bordeaux – Le Grand Hotel
IHG | July 27, 2015
July 27, 2015 - InterContinental Hotels Group (IHG), one of the world's leading hotel companies, announces the signing of InterContinental® Bordeaux - Le Grand Hotel, France. The hotel will operate under a management agreement with Financière Immobilière Bordelaise. Opening later this year, the hotel will be IHG's sixth InterContinental® Hotels & Resorts property in France, cementing its position as the largest luxury hotel brand in Europe. InterContinental Bordeaux - Le Grand will join InterContinental® Paris - Le Grand, InterContinental® Paris - Avenue Marceau, InterContinental® Marseille - Hotel Dieu, InterContinental® Ca...
McKinsey & Company’s Ethan Hawkes and Sree Ramaswamy to Deliver Keynote at Revenue Strategy Summit
Duetto | July 27, 2015
July 29, 2015 at the Affinia Liaison Capitol Hill, Washington, D.C. Powered by Duetto, RSS Anticipates 300+ Participants, Discussing Strategies to Keep Hotels Ahead in Today's Dynamic Marketplace New York, July 27, 2015 ... Ethan Hawkes, leader in the Travel Practice at McKinsey & Co., and Sree Ramaswamy, a Senior Fellow at the McKinsey Global Institute, will deliver the keynote address at the third annual Revenue Strategy Summit, (RSS), a gathering of thought leaders and practitioners who will examine the forces reshaping the hospitality industry and how marketing and technology must evolve to meet new demands. Hawkes and Ramaswam...
Revenue Management Insights: An Interview with Jean Francois Mourier
Jean Francois Mourier | July 23, 2015
While most hoteliers are already familiar with the practice of revenue management, many hoteliers are still using less sophisticated methods to manage their rates on the online channels. Especially among smaller, independent properties, revenue management is often still done manually, a process that is hugely time-consuming and much less effective (when compared to an automated revenue management system). We spoke with Jean Francois Mourier, CEO of REVPAR GURU, to find out his thoughts on the best practices in revenue management, specifically as related to choosing an effective revenue management system (RMS). Overall, what trends do yo...
Geller and Wanxiang America Acquire Controlling Interest of Iconic Waldorf Astoria Chicago
Waldorf Astoria Hotels & Resorts | July 22, 2015
CHICAGO, July 22, 2015 -- "It is a terrific time to be in the luxury hotel business, especially in Chicago, due to its growth in tourism. This hotel's world-class location, physical attributes and current market position provide a wonderful platform from which to grow," so stated Laurence Geller, chairman of Geller Investment Co., upon aquiring a majority interest in the Waldorf Astoria Chicago. It is the second Chicago hotel that Geller's company, teamed with Wanxiang America Real Estate Group, announced in the last year. The first was the Conrad Chicago, which is just steps off of Michigan Avenue on Erie Street, and due to open in the...
European Hotel Deals Up 85% on 2014 Says JLL
JLL's Hotels & Hospitality Group | July 20, 2015
20 July, 2015 EMEA H1 2015 volumes up 85% on 2014 UK up 172% on 2014 Private equity funds targeting Europe, particularly UK regional hotels Chinese investment has reached $1.9bn already this year Greek crisis will not put off investors Half year volumes from JLL's Hotel & Hospitality team indicate that 2015 is set to be a bumper year for hotel deals in Europe, Middle East and Africa (EMEA). EMEA half-year transaction volumes are up 85% on the same period in 2014 to €13.2bn transacted. This rise is primarily driven by the UK which is pulling away as the stand-out regional leader accounting for nearly 50% of all hotel deals i...
