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
Bournemouth University Win the Passion 4 Hospitality Business Management Game 2015
The Total Simulator Company | March 24, 2015
Bournemouth University have won the Passion 4 Hospitality Business Game for the second year in a row. Team member Ellen McCausland tweeted after the event "@HOTS_Simulation Such a fantastic day yesterday at @IoH_Online Conference. Proud to have brought home the trophy for a second year! #BUproud". The competition was contested this year by teams from Plymouth, Manchester Metropolitan, University College Birmingham, Westminster Kingsway and Bournemouth. These five teams came through the online heats for the competition, which featured eight teams. This year the focus of the business game was on revenue management, social media and guest ...
Average Daily Rate Growth Helps Hoteliers Spring into March
TravelClick, Inc. | March 24, 2015
Hoteliers Advised to Continue to Monitor Their Local Markets NEW YORK - March 24, 2015 - Hotels in major North American markets are continuing to experience growth driven by strong rates, according to data from the March 2015 TravelClick North American Hospitality Review (NAHR). While hotels continue to experience steady growth, group sales have decelerated. "We're finally moving out of the doldrums of winter into the spring but the cold weather has had an adverse effect as group sales pace has continued to decelerate from the strong gains sustained throughout most of 2014," said John Hach, Senior Industry Analyst at TravelClick. "The c...
The Rainmaker Group Kicks Off Its 11th Annual Hospitality Client Summit
Rainmaker | March 24, 2015
ATLANTA, GA - March 24, 2015 - The Rainmaker Group, the leading provider of revenue management and profit optimization solutions to the hospitality and multifamily housing industries, kicked off its 2015 Hospitality Client Summit in Fort Lauderdale, FL. A record number of attendees, from around the globe, are attending Rainmaker's 11th annual Summit. Hotel and casino-hotel executives, revenue managers and operations specialists are attending to learn and leverage best practices, review new and emerging technologies and innovations, and to solve the problems that matter in improving their business performance. Rainmaker promises fresh in...
JMBM Has Sourced More than $700 million of EB-5 Financing for New Development Projects
Jonathan Bloch | March 23, 2015
By Jim Butler and the Global Hospitality Group® 23 March 2015 Click here for the latest articles on EB-5 Financing. The buzz continues on EB-5 financing for development projects. EB-5 financing is an important and viable source of construction financing for hotels, hotel enhanced mixed-use, and other development projects. Five years ago, when JMBM started helping hotel developers with EB-5 financing, many worried about whether this is a legitimate and reliable financing source. Now, after billions of dollars of development have been funded with EB-5, this type of financing is regarded as mainstream, and is used by many institution...
5 Tips on How Data Snapshots Create Forecasting Accuracy and Greater Profitability
Aptech Computer Systems | March 17, 2015
The Trend is Your Friend: Accurate Forecasts Combine Historic Performance with Daily Operating Data to Uncover Trends that Affect Profitability By Jill Wilder, Vice President of Aptech Computer Systems March 17, 2015 - There's a popular adage among business gurus: The best way to predict your future is to create it. Accurate forecasting is the foundation of a meaningful budget. An accurate plan influences committed expense money for the future and shows where it will come from. Without reliable forecast numbers, a hotel operator is managing their business in the dark. Hotel companies today can access an ocean of data that will help them...
Equity Funds Were the Most Active Investors in Hotels in the U.S. During 2014 at $7.4 Billion
Lodging Econometrics | March 12, 2015
MARCH 13, 2015 - PORTSMOUTH, NH - Lodging Econometrics reports that for hotels with a reported selling price, investment totaled $22 billion in the United States. Equity funds were the most active investors in 2014 adding $7.4 billion in hotels, most of which were portfolio purchases. Publicly traded REITs were the next biggest acquirers. They invested $6.4 billion, primarily focusing on high-profile single assets divested by privately held hotel companies. Although on balance they were net-sellers in 2014, privately held hotel companies were also significant buyers, investing $4.4 billion, mostly in single assets and smaller portfolios...
Hotel AG Closes The Riverhouse Hotel & Convention Center in Bend, Oregon
Hotel AG | March 11, 2015
ATLANTA - March 11, 2015 - Hotel AG announced today the firm has closed on the sale of The Riverhouse Hotel & Convention Center located in Bend, Oregon. The Riverhouse Hotel & Convention Center is a full-service hotel and conference center considered one of the premier meeting destinations in the Northwest. The property consists of 220 guestrooms and a 30,000-square-foot LEED Silver meeting facility situated on 15 acres along the Deschutes River in the center of Bend. "Bend has been a hot spot for decades offering visitors year-round activities and The Riverhouse Hotel & Convention Center has been a hospitality cornerstone i...
IHG Appoints Sandi Macfie to Newly Created Role of Director, Hotel Performance Support for Africa
IHG (InterContinental Hotels Group) | March 10, 2015
10 March, 2015 - InterContinental Hotels Group (IHG), one of the world's leading hotel companies, announces the appointment of Sandi Macfie to the newly created role of Director, Hotel Performance Support for Africa. Based in Johannesburg, Sandi will lead the operations and performance of IHG's 17 franchised hotels across six countries in Africa. A native South African by birth, Sandi joins IHG with 30 years of extensive experience across the hospitality, finance and technology industries. She was most recently Group Director of Revenue in Tsogo Sun Hotels, during which time her background in information technology also put her in good ...
Hotel Equities to Manage New, Under Development, Fairfield Inn & Suites Waxahachie/South Dallas
Hotel Equities | March 9, 2015
Atlanta, GA–March 9, 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 Waxahachie, Texas. Set to break ground in April 2015, the hotel will be located at 2020 Civic Center Ln., the intersection of Interstate 35 E and Highway 287, just 30 minutes south of Dallas, Texas. Expected to open in March 2016, the hotel will sit beside the Waxahachie Civic Center, site of numerous events and meetings, and across from the newly completed Baylor Scott & White Hospital. "Expanding our management portfolio deep...
Hotel Investment Tops $30 Billion in 2014; Average Per Room Cost was $156,002, up 20.6% YOY
Lodging Econometrics | March 9, 2015
MARCH 9, 2015 - PORTSMOUTH, NH - Lodging Econometrics reports that In 2014 total investment in the lodging industry was an estimated $30.8 billion. Of the 1,292 hotels that were transacted 935 reported a selling price into the public domain. The average selling price per room for those hotels was $156,002, up a dramatic 20.6% Year-Over-Year (YOY). The healthy increase in selling prices is due to record-setting hotel revenues and profits, low interest rates and the availability of attractive financing terms. LE foresees selling prices continuing to accelerate for the next several years as hotel performance continues to shine in the abse...
Following 2011’s 75% Decline in New Hotel Openings, Trend Expected to Break by End of Decade Says LE
Lodging Econometrics | March 5, 2015
MARCH 5, 2015 - PORTSMOUTH, NH - Lodging Econometrics reported that new hotel supply growth bottomed in 2011 with the opening of only 347 Hotels/37,404 Rooms. The bottom in 2011 concluded a precipitous 75% decline in New Hotel Openings from a peak of 1,341 Hotels/154,257 Rooms established in 2008 at the onset of the Great Recession. Since then, new supply growth has been slow and incremental. New Hotel Openings were a paltry 412 in 2012, 488 in 2013 and 557 hotels with 63,352 rooms in 2014. LE forecasts that just 726 new hotels will open in 2015 and 797 hotels in 2016. The sharpness of the decline and the prolonged nature of the econom...
Hotel AG Continues Closing Pace
Hotel AG | March 5, 2015
ATLANTA - March 5, 2015 - Hotel Assets Group, LLC (Hotel AG), announced today the firm continues to see a rapid pace of closings. The firm has sold or advised on 195 separate hotel transactions for the last trailing 24 months. A few of the recent closings in 2015 included a full-service resort hotel in Oregon that sold for $143,000 a room, a full-service hotel in historic downtown Savannah that sold for $220,000 a room, a Hyatt Place and Courtyard by Marriott located in the Upper Midwest, and a high-rise full-service beach front hotel located in Daytona Beach. The firm is 250% ahead in closings compared to the same period last year. Cur...
Interstar and IHG Enter Multiple Development Agreement for 10 Hotels in Germany
IHG (InterContinental Hotels Group) | March 4, 2015
4 March, 2015 - InterContinental Hotels Group (IHG®), one of the world's leading hotel companies, has announced the signing of its latest multiple development agreement (MDA) to develop 10 hotels in Germany by 2019 with first time franchisee for the company, Interstar. IHG's growth strategy continues to gain momentum in Germany with over 85 hotels currently either open or planned under MDA agreements. The agreement enables Interstar to develop hotels across two of IHG's brands – Holiday Inn® and Holiday Inn Express®. The 10 hotels will add approximately 1,700 rooms when signed to Germany's current development pipeline of close to 4...
US Pipeline Breakout is Accelerating Reports Lodging Econometrics
Lodging Econometrics | March 3, 2015
MARCH 3, 2014 - PORTSMOUTH, NH - Lodging Econometrics reports that with 3,645 Projects/460,551 Rooms the 2014 Total US Construction Pipeline stands at its highest level in six years. After a three-year bottoming formation, the Pipeline has now posted five consecutive quarters of double-digit Year-Over-Year (YOY) growth. In both the third and fourth quarters increases were particularly impressive, exceeding 20%. Although the breakout might appear robust, Pipeline totals are still a long way from the peak of 5,438 Projects/718,387 Rooms set in 2007. Projects Under Construction, the most important predictor of near-term supply growth, has...
Hotel Equities Names Sean McKeen General Manager for New Residence Inn Miami Beach-Surfside
Hotel Equities | February 26, 2015
Atlanta, GA – February 26, 2015 – Atlanta-based Hotel Equities (www.hotelequities.com) announced the hiring of Sean McKeen as the General Manager of the new Residence Inn by Marriott Miami Beach-Surfside. The $52 million resort-style hotel recently topped out at 92nd Street and Collins Avenue in the Surfside area of Miami Beach. Hotel Equities who has an ownership position in the project is also managing the 175-room upscale property for their JV partner Hotel Development Partners (HDP) of Atlanta. "Hotel Equities is delighted to introduce Residence Inn by Marriott to the Miami Beach market," said Brad Rahinsky, President and COO of...
hotel SystemsPro Welcomes 2015 with New Leadership, Re-Energized Focus on Client Success
hotel SystemsPro | February 26, 2015
Dedicated Team of Hotel Professionals Launch High-Performance Solutions Backed by Personal Service Atlanta - February 26, 2015 - hotel SystemsPro, a provider of high performance business solutions for hotels and hotel company owners, announced a re-energized company launch for 2015. The company, founded in 1994 will emphasize strongly-focused customer service teams and product innovations guided by Lana Perkins, CHA, hotel SystemsPro founder. Click here for more information on hotel SystemsPro products. Personal Service and Solutions for Sales and Revenue, Facilities Management, and Guest Service. "Client success is our inspiration and ...
The Next Frontier in Revenue Management: Big Data for Hoteliers
Jean Francois Mourier | February 24, 2015
By Jean Francois Mourier Big Data seems to have been the buzzword in most industries for the last five years. But unlike many other industries that have integrated Big Data as a key component of their operations, the hotel industry is lagging very far behind. In my opinion, this is a big - and costly - mistake to make! You might be asking yourself: "How can my hotel leverage the power of Big Data?" But before I explain how your property can use Big Data to generate significant increases in occupancy, ADR and RevPAR, let's go back to the basics... What is Big Data? Google defines Big Data as "extremely large data sets that may be analyze...
Third Annual Revenue Strategy Summit Planned for July 29, 2015 at the Liaison Capitol Hill D.C.
Duetto | February 23, 2015
Powered by Duetto, RSS Will Bring Together Industry Thought Leaders on the Next Frontiers in Hotel Innovation Washington DC - February 10, 2015 ... Duetto, Kalibri Labs and Silver Hospitality Group, LLC announce the third annual Revenue Strategy Summit (RSS), a gathering of thought leaders and practitioners which will examine forces reshaping the hospitality industry and how marketing and technology must evolve to meet new challenges. Held for the first time in Washington, D.C. - the epicenter of policy discussion and decision-making - RSS is scheduled for Wednesday, July 29th at Affinia's Liaison Capitol Hill Hotel. The full-day confe...
Hotel Equities Names Amanda Michael as General Manager for New Home2 Suites by Hilton St. Louis
Hotel Equities (HE) | February 18, 2015
Atlanta, GA–February 18, 2015 – Atlanta-based Hotel Equities (www.hotelequities.com) announced the hiring of Amanda Michael as the General Manager of the Home2 Suites by Hilton Forest Park, the hotel nearing completion in St. Louis, Missouri. Hotel Equities is managing the 107-room hotel for Above All Development, LLC of St. Louis. "Hotel Equities is delighted to introduce Home2 Suites by Hilton to the St. Louis market," said Joe Reardon, VP of Business Development and Marketing. "This is our first hotel in the all-suites brand and its innovative approach is sure to appeal to our guests whether they are business travelers or extende...
Renovation/Conversion Underway for the 361-room Hotel Zephyr Fisherman’s Wharf in San Francisco, CA
Davidson Hotels & Resorts | February 17, 2015
San Francisco, CA - Feb. 17, 2015 - Davidson Hotels & Resorts has teamed up with acclaimed international design firm Dawson Design Associates to launch Hotel Zephyr, an upscale hotel property with a fresh and irreverent twist. As one of the rare waterfront hotels in San Francisco, Hotel Zephyr will offer a one-of-a-kind hotel experience in the heart of the city's iconic tourist attractions. The property, currently the site of the Radisson Fisherman's Wharf and spanning over the entire block bound by Jefferson, Powell & Beach St., was acquired by Pebblebrook Hotel Trust in December 2013. The hotel, completely transformed and re-i...
Aptech’s Targetvue Budget Solution Earns Corporate Performance Management Award from Prophix
Aptech Computer Systems, Inc. | February 16, 2015
Prophix Taps Aptech for Extensive Knowledge and Hospitality Experience: Introduced Enterprise Budgeting and Planning to Hotel Companies Pittsburgh, PA - February 16, 2015 - Prophix, a pioneer in global Corporate Performance Management (CPM) software, honored Aptech Computer Systems with its Independent Software Vendor (ISV) Award for 2014. Aptech received the award for its Targetvue Enterprise Budgeting and Planning solution for hospitality companies. Aptech is the leading provider of hospitality software for business intelligence, budgeting, and enterprise financial accounting. Click here for more on Aptech's products and services. Apt...
Hotel Group Sales Challenge Solved with Comprehensive Group Pricing Optimization
Rainmaker | February 13, 2015
ATLANTA, GA - February 13, 2015 - The Rainmaker Group announced today the introduction of its most powerful version yet of its GroupREV® group pricing software solution to grow and maximize an organization's total revenue from meetings and events sales. Rainmaker's GroupREV solution for group sales was first introduced in 2012 and is used by leading hospitality organizations in the US, Caribbean, and Dubai. Multi-year usage experience by its customers and continuous innovation has resulted in group conversion rate improvement of 11.5% or higher and group room revenue lift of over 8%. GroupREV was introduced in 2012 to complement Rainma...
Leading Hospitality and Gaming Properties Choose Rainmaker’s Solutions to Improve Revenue and Profit
Rainmaker | February 9, 2015
ATLANTA, GA - February 9, 2015 - The Rainmaker Group announced today that more than 20 new system implementations for its revenue management and profit optimization software solutions have been booked already in 2015. All of the relationships are new customers, and include The New Tropicana Las Vegas, Golden Nugget Lake Charles, as well as two properties within GF Management and three within the Wind Creek portfolio. "With all twenty-plus implementations being new customers, this announcement is particularly gratifying because it continues to validate the revenue-generating value of our solutions," said Tammy Farley, president of Rainma...
HREC Releases Study “Orlando Area Hotel Transactions – Year in Review (2014)”
HREC | February 4, 2015
(Denver, Colorado; Orlando, Florida) - HREC Investment Advisors has released its comprehensive study of hotel transactions in the Greater Orlando area for 2014. The study covers over 500 hotels located in Orange, Osceola, Seminole, Polk and Lake Counties. The HREC study revealed that a total of 45 changed ownership in 2014, the same number as in 2013. Regarding the single-asset sales: · Aggregate sales volume in 2014 was $464 million vs. $890 million in 2013 · Average transaction size in 2014 was $11.9 million vs. $6.9 million in 2013 (after subtracting for the Peabody sale) · Median transaction size in 2014 was $3.9 million vs. $4.7...
