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
Adyar Gate Hotels & IHG Sign New 286-room Crowne Plaza Chennai Adyar Park in Chennai, India
IHG | May 6, 2015
Delhi, India, 6 May 2015: InterContinental Hotels Group (IHG), one of world's leading hotel companies, today announced the signing of the 286-room Crowne Plaza Chennai Adyar Park with Adyar Gate Hotels Limited. The hotel, which IHG is now managing, will be rebranded as Crowne Plaza Chennai Adyar Park, marking the entry of the company's Crowne Plaza brand into the key Indian city. The hotel joins Holiday Inn Express Chennai Mahindra World City, making it the second IHG hotel in Chennai. Located in the city's central business district and taking the site of the existing Sheraton Park Chennai, the hotel bears additional significance for IH...
Dorma and Kaba Announce Merger Plans
Hotel Equities (HE) | May 5, 2015
dorma+kaba to become one of the global top 3 companies in the security and access solutions market, with pro-forma sales exceeding CHF 2 billion (EUR 1.9 billion) Leading product and services offering from a single source thanks to complementary portfolios, value chain and geographic footprint in all key markets Excellent growth opportunities and significant synergy potential to create substantial added value for Kaba shareholders; planned special dividend of CHF 50 per share Dorma owner family to increase its entrepreneurial commitment by acquiring 9.1% stake in Kaba and together with Kaba family shareholders to form strong, long-t...
Hotel Equities Chosen to Lead Premier Hospitality’s Portfolio of 21 Hotels in Texas and Oklahoma
Hotel Equities | April 29, 2015
Atlanta, GA - April 29, 2015 - Hotel Equities recently announced its selection as the management firm for a portfolio of 21 hotels located in Texas and Oklahoma. The portfolio is owned by Premier Hospitality Management, Inc. Hotel Equities assumes management on May 1, 2015, taking its overall portfolio to 90 hotels in 14 states. Raj Patel serves as President and CEO of Premier, a firm he founded 23 years ago. Premier's portfolio features nine hotel brands and two independent full service hotels totaling 2,166 guest rooms. The portfolio is represented with premium brands such as Marriott, Hilton and IHG. "We're excited to announce the pa...
IHG and Amadeus Partner to Develop a Next-Generation Guest Reservation System (GRS)
IHG (InterContinental Hotels Group) | April 29, 2015
Will Use a New Cloud-Based Community Model to Ultimately Replace HOLIDEX, IHG's Proprietary Reservation System Wednesday 29th April 2015, London: InterContinental Hotels Group ("IHG") today announces that it is to continue its strategic relationship with Amadeus, the world's leading provider of advanced technology solutions for the global travel industry. Together, IHG and Amadeus will develop a next-generation Guest Reservation System (GRS) that will revolutionise the technological foundations of the global hospitality industry. Amadeus will use a new cloud-based community model, a first in the hotel sector, and similar to the model it...
US Cities Achieve World Class Status as Foreign Investment Booms
Kathy Conroy, MAI | April 22, 2015
By Kathy Conroy, Apr 16, 2015 This article offers a comparison of international investment in US Hotels during periods of strong hotel operating performance and a close look at Florida. In September 2013, my colleague at HVS Miami, Andrew Cohan MAI, published an article entitled "Miami's Leap to Global Gateway Status". In that article, Cohan pointed out several interesting facts denoting Miami's shift to a global or world gateway city. One of the factors noted by Cohan was the movement in the HVS Hotel Valuation Index for Miami -- from just above the national average index in 2002 to almost four times the national average index by 2011...
Hotel Equities Selected to Operate New Fairfield Inn & Suites in West Monroe, Louisiana
Hotel Equities | April 21, 2015
Atlanta, GA–April 20, 2015 – Atlanta-based Hotel Equities (www.hotelequities.com) recently announced its selection as the management firm for the Fairfield Inn & Suites by Marriott under development in West Monroe, Louisiana. The hotel will break ground in the summer of 2015. Expected to open in the third quarter 2016, the hotel will be located near numerous corporate offices, as well as the University of Louisiana-Monroe and the Ike Hamilton Expo Center, the area's number one tourist attraction and an important economic engine in the region. "We are excited to continue our growth in Louisiana with this entrepreneurial ownership...
Hotel AG Continues Pace of Closings
Hotel AG | April 20, 2015
ATLANTA - April 20, 2015 - Hotel Assets Group, LLC (Hotel AG) is pleased to announce several of the firm's recent closings were the Hampton Inn & Suites at the San Francisco Airport, The Hampton Inn & Suites in Frazer/Great Valley, Pennsylvania and a completed auction process on a hotel in Louisiana. Eric Gunderson, a partner located in the firm's Los Angeles office, handled the sale in San Francisco, and Michael Bernath, from the firm's Atlanta office, handled the transactions in Pennsylvania and Louisiana. The firm has been involved in 191 hotel transactions over the last 24 months with many of the assets being Hilton, Marriot...
Hotel AG Closes San Francisco Airport Hotel
Hotel AG | April 20, 2015
ATLANTA - April 20, 2015 - Hotel Assets Group, LLC (Hotel AG) is pleased to announce that it has arranged the sale of the Hampton Inn & Suites in Burlingame, California at the San Francisco Airport. Eric Gunderson, a partner in the firm's Los Angeles office, exclusively represented the Seller, Saturn Investment Group, LLC. The Hampton Inn & Suites is located less than two miles from the main terminal of the San Francisco International Airport (SFO) and only 14 miles from downtown San Francisco. SFO had a record of 47 million passenger boardings in 2014, marking eight consecutive years of passenger growth. Eric Gunderson remarked...
Messaging and the Art of Simplicity
Alan Young | April 15, 2015
How Travel Technology Companies Can Create Effective Messages That Will Resonate with Your Prospects and the Press by Alan Young, President, Puzzle Partner Ltd. Companies frequently ask me how to refine or redefine their corporate messaging so that it will resonate with their audience and make their brand stand out. I have discovered that as companies grow or decide to position themselves for new markets, one of the paramount challenges they face is ensuring prospective clients understand what they have to offer and how it can benefit them. Hotel and travel technology companies have become encumbered by explanation. Is it a solution or ...
Hotel Development in Three Phases
Larry Mogelonsky | April 15, 2015
By Larry Mogelonsky, MBA, P. Eng. (www.lma.ca) Of late, our agency has been involved in several new property developments. All are coming along quite successfully and appear to be on track to meet their launch dates. To put it bluntly, the process of initiating a new property is not for the faint of heart. Far from it. It takes an excruciating toll from all those involved in the process. Many have asked me if there is a formula for success, to which I reply with a simple-yet-pervasive, three-part answer. 1. Vision It starts with a vision from the developer - what they hope to deliver to the marketplace. For a hotel/resort this includes ...
Hotel Development Partners Acquires Portfolio of 7 Marriott-branded Hotels; 6 Located in Atlanta, GA
Hotel Development Partners | April 14, 2015
ATLANTA, GA (April 14, 2015) - Atlanta-based Hotel Development Partners (HDP) recently announced the addition of seven select-service Marriott hotels to its growing portfolio of properties. HDP purchased the properties from Houston-based Moody National for Atlanta-based Hotel Equities will continue to manage all seven hotels through its JV partnership with HDP. With well-established performance records and excellent locations in their various metro markets, the hotels bring financial success and award-winning customer service with the deal. The hotels included in the purchase are: Fairfield Inn & Suites, Alpharetta, Fairfield Inn &a...
Hotel Innvestor President to Speak at Industry Confab on Subject of Crowdfunding
Hotel Innvestor | April 10, 2015
Boston – A leading expert in the field, Hotel Innvestor founder and President Tim Edgar will speak on the subject of "Crowdfunding vs. Private Equity" at the Hotel Equity and Lenders Perspectives (HELP) Conference April 14 at the Seaport Hotel. "The HELP Conference is a two-day, national networking event dedicated to providing timely and accurate information from senior-level experts, lodging industry leaders and deal-makers," according to the conference's website. Among those experts and leaders will be Mr. Edgar, who will speak on a panel with other industry pundits at 10 a.m. Tuesday. The focus of this year's meeting, "Making Waves...
Unique Travel Startups and Services That Can Help Optimize Revenue and e-Commerce Strategies
Amanda Bryant of TNJ Management | April 9, 2015
by Amanda Bryant It's no secret that third party services and new intermediaries are popping up faster than we can keep track of, however as revenue and e-commerce managers we should constantly be evaluating new services as opportunities to not only improve RGI, but optimize channel mix by improving ADR and reducing guest acquisition and distribution costs. Let's admit the fact that intermediaries have scale, which individual hotels and small portfolios will never achieve, especially when we try to affordably compete in SEO and SEM. While we wish the marketing fees paid to our franchisors are the only investment we need to make in filli...
IHG Appoints Jorge Apaez as Chief Operating Officer, Mexico, Latin America & The Caribbean
IHG (InterContinental Hotels Group) | April 9, 2015
MIAMI AND ATLANTA – InterContinental Hotels Group (IHG), one of the world's leading hotel companies, announces the appointment of Jorge Apaez as Chief Operating Officer, Mexico, Latin America & The Caribbean. Jorge assumes this role after the retirement of industry veteran Alvaro Diago. Jorge will oversee operations for the 220 hotels under six different brands across 21 countries in the region as well as relationships with the owning companies of IHG's managed and franchised hotels. He will report to the Americas Chief Operating Officer, Jolyon Bulley, and will be based in IHG's Guadalajara corporate office. Elie Maalouf, Chief E...
Florida’s 400-room Hilton West Palm Beach Celebrates Topping Out
Hilton Hotels & Resorts | April 7, 2015
L to R: Bruce Warwick, Vice Chairman Related Companies; Gopal Rajegowda Vice President of Development Related Companies, Stephen Ross, Chairman and Founder Related Companies, Ted Ratcliff, Senior Vice President Operations Eastern North America, Hilton Worldwide; Leslie A. Pchola, Area Vice President, Hilton Worldwide; Luis Lamar, Regional Vice President Sales & Marketing, Hilton Worldwide, Edd Karlan, Director of Sales & Marketing for Hilton West Palm Beach and David Harrison, Vice President of Design & Construction Related Companies. MIAMI - April 7, 2015 - Related Companies, Coastal Construction, Hilton Worldwide executiv...
RobertDouglas Advises Clarion Partners on the $670 million Refinancing of a 65-hotel Portfolio
RobertDouglas | April 1, 2015
San Francisco, CA – April 2, 2015 – RobertDouglas announced today that it advised Clarion Partners on the refinancing of the 65-property CBM Two Hotels LP Portfolio. Bolstered by robust in-place cash flows, strong geographic diversification, and institutional Sponsorship, the Portfolio attracted strong interest from a wide array of lenders. The $670 million five year, fixed-rate mortgage financing was provided by Deutsche Bank who is expected to securitize the loan in a single-borrower deal later this year. The Portfolio is comprised of 65 Courtyard by Marriott hotels totaling 9,590 keys and located in 29 states and 46 metropolitan ...
Magnolia Hotel Group Simplifies Global Property Budgets for Growing Portfolio
Aptech Computer Systems, Inc. | April 1, 2015
Multi-Brand Operator Implements Enterprise Budgeting and Accounting; GMs Refine Spend and Revenue in Real Time April 1, 2015 - "We recently took over a portfolio of 11 hotels where everything was done by hand. Accounting, budgets everything was in Excel spreadsheets. Our team knew immediately that we needed uniform accounting and an easier budget process across the properties," said Darren Phillips, CHA, principal of Magnolia Hotel Group. Columbus, GA-based Magnolia Hotel Group (MHG) owns and operates Marriott, Hilton, IHG and Wyndham properties in the Southern US. "Today we have everything online and our GMs don't need an accounting ba...
Let’s Talk About Cost Controls
Kirby D. Payne, CHA | March 30, 2015
A hotel manager's most important tasks are making money for the owner and maintaining the asset. Satisfied guests and motivated employees are among the tools, but cost controls are also critical components of the formula. by Kirby Payne Managing expenses is among the most important things a manager does to achieve an owner's goals of profit and value. (I never say it is the most important because everyone knows, "Nothing happens until somebody sells something." But, it is close!) The most central elements of effective expense management are proactive rather than reactive. The first step in expense management is budgeting, and zero-based...
Hotel ICON Becomes First Hong Kong Hotel to Implement Duetto’s Revenue Strategy Solutions
Duetto | March 30, 2015
Duetto partners with the 262-room luxury independent hotel to bring new levels of insight and revenue optimization to one of Hong Kong's most visible properties Hong Kong, March 30 2015 - Duetto, the market leader in hotel profit optimization technology, announced that Hotel ICON is the first in Hong Kong to implement its revenue strategy solutions, bringing new insights on pricing and demand to the landmark property. A leader in design and luxury guest services, Hotel ICON is a teaching and research hotel owned by the School of Hotel and Tourism Management at the The Hong Kong Polytechnic University. Utilizing new consumer-centric ...
Cornell Study Highlights Drivers of Risk Premium Paid for Hotel Loans
The Center for Hospitality Research | March 26, 2015
Ithaca, NY, March 26, 2015 - A new report from the Center for Hospitality Research (CHR) highlights the factors that drive the interest-rate spread between loans for hotels and office buildings. That interest-rate spread, in which hotel loans become more or less expensive than loans for office buildings, is a predictor of the relative delinquency of the hotel loans. The factors that cause those interest rate differentials are important, because they help forecast the fate of the hotel finance market. The report, "Looking Under the Hood: The Catalysts of Hotel Credit Spreads," by Jan A. deRoos, Crocker H. Liu, and Andrey D. Ukhov, is ava...
GuestREV® Mobile, New GroupREV® Functionality, and Market/Business Intelligence ‘Steal Show’
Rainmaker | March 26, 2015
Mobile Revenue Management app declared a "true game changer" ATLANTA, GA - March 26, 2015 - The eleventh annual Rainmaker Hospitality Client Summit concluded Wednesday in Fort Lauderdale, FL, highlighted by The Rainmaker Group's latest innovative advancements to solve the key business challenges that help hotels optimize profitability through its unique total revenue management methodology. The company unveiled its GuestREV® Mobile app version, the first of its kind in revenue management as a complete solution version for mobile devices. Rainmaker also introduced cutting-edge enhancements to its market-leading GuestREV® and GroupREV®...
Hotel Equities Selected to Operate a One-of-a-Kind SpringHill Suites in Northwest Houston
Hotel Equities (HE) | March 25, 2015
Atlanta, GA – March 25, 2015 – Atlanta-based Hotel Equities (www.hotelequities.com) recently announced it was chosen as the management firm for a one-of-a-kind SpringHill Suites by Marriott under construction in Northwest Houston, Texas. Set to open in summer 2015, the hotel is Hotel Equities' fourth Marriott-branded property in the state. The hotel is located on the Northwest Freeway in Houston's growing medical and business corridor. Unique to the SpringHill brand, the hotel features 4,500 square feet of meeting space plus an additional 1,500 square feet of pre-function space to accommodate the strong conference demand in the mark...
Rainmaker Introduces GuestREV® Mobile App for On-the-Go Revenue Management
Rainmaker | March 25, 2015
Total Revenue Management solution suite for hoteliers unveiled ATLANTA, GA - March 25, 2015 - The Rainmaker Group, the leading provider of revenue management and profit optimization solutions to the gaming/hospitality and multifamily housing industries, unveiled its GuestREV® Mobile app version, the first of its kind in revenue management solutions as a complete solution version for mobile devices. Also announced at its 11th annual customer conference, Rainmaker introduced cutting-edge enhancements to its market-leading GuestREV® and GroupREV® systems, and further deployment news of its recent acquisition of Revcaster™ and its hosp...
Can Revenue Management Resolve Conflict between GOP PAR and REV PAR as Hotel Performance Indicator?
Ahmed Mahmoud | March 25, 2015
By Ahmed Mahmoud Far in the past for the hotel industry analysis, there were two simple classic indicators used to measure the hotel performance: average room rate and % of occupancy. Then, in the 80s, yield management or "profitability management" started to be the main indicator, because it reflected how efficient the hotelier can manage occupancy and price at the same time, depending on demand. Some hoteliers decided not to stop in reasoning and developing theory and tried GOP PAR in practice. Since early 2002 Larkspur Hospitality Company of San Francisco, has been actively using GOPPAR as a measurement to provide a clearer picture ...
