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
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Finance & Development
Hotel Equities Adds the 220-room Wyndham Garden Inn Metairie/New Orleans to Management Portfolio
Hotel Equities (HE) | December 17, 2014
Atlanta, GA - December 17, 2014 - Atlanta-based Hotel Equities (www.hotelequities.com) recently added the Wyndham Garden Inn Metairie/New Orleans to its growing portfolio, taking their number of hotels above 60. Located just four miles east of New Orleans International Airport, the 220-room full service property recently completed a conversion and extensive renovation. The hotel features an upscale restaurant and bar, offers over 5500 square feet of flexible meeting space, room service and 220 well-appointed guest rooms and suites. "We're delighted to manage this beautiful hotel located just nine miles west of the French Quarter," said ...
IHG Agrees to Acquire Kimpton Hotels & Restaurants for $430 Million
IHG (InterContinental Hotels Group) | December 16, 2014
16 December, 2014 Highlights: IHG has agreed to acquire Kimpton Hotels & Restaurants ("Kimpton") for $430 million in cash. Kimpton is the world's largest independent boutique hotel operator and a sophisticated food and beverage operator. Kimpton is a fully asset-light business that manages 62 hotels in the most attractive cities and resorts in the US with a further 16 hotels in the pipeline. It operates 71 hotel-based destination restaurants and bars. Acquisition makes IHG the clear market leader in the boutique segment, the fastest growing segment in the industry. Highly complementary with IHG's Hotel Indigo and EVEN Hotels b...
Puzzle Partner Launches News Site Showcasing the Next Big Thing in Travel and Hospitality Technology
Puzzle Partner Ltd. | December 15, 2014
Engaging trend spotting resource helps entrepreneurs and business leaders stay on the pulse of the fast-moving disruptive technologies that are shaping the future of travel and hospitality Toronto, CA, - December 15, 2014 - Puzzle Partner Ltd., a marketing and strategic growth agency, today announced the launch of the Next Big Thing Travel & Hospitality Technology (NBTworld.com). The responsively designed tech portal will be positioned as the go-to news site for technology innovations, emerging trends and startups within the travel and hospitality world. It also brings together the industry's thought leaders and success experts to r...
Jaideep Khanna to Lead New NSO for IHG as Director of Regional Sales, South West Asia
IHG (InterContinental Hotels Group) | December 12, 2014
New Delhi, India, 12 December 2014: InterContinental Hotels Group (IHG) has established a new National Sales Organisation (NSO) to support its growth plans in South West Asia (SWA). With a newly-formed team based across Delhi NCR, Mumbai and Bengaluru, the NSO will focus on developing strong relationships with domestic companies to drive business to the hotel group's 23 hotels across the region. The establishment of the NSO stemmed from increased optimism in the market following measures by the new Indian government to improve the business landscape. Commenting on the launch of the NSO, Shantha de Silva, Head of South West Asia, IHG sai...
Pebblebrook Hotel Trust Acquires the 125-room Union Station Hotel in Nashville, Tennessee for $52.3M
Pebblebrook Hotel Trust | December 11, 2014
December 11, 2014 - BETHESDA, Md. - Pebblebrook Hotel Trust (NYSE:PEB) (the "Company") today announced that it has acquired Union Station Hotel, Autograph Collection ("Union Station Hotel") for $52.3 million. The 125-room iconic historic landmark hotel is located on Broadway, in the center of downtown Nashville, Tennessee. The property will maintain its association with Marriott's Autograph Collection and will be operated by Sage Hospitality ("Sage"). "We're thrilled with the acquisition of Union Station Hotel and the opportunity to further expand our growing portfolio into the high-growth Nashville market," said Jon Bortz, Chairman and...
Why Now is the Time for Hotel Owners to Leverage Revenue Management
Trevor Stuart-Hill | December 10, 2014
By Trevor Stuart-Hill The hotel industry, in virtually every global market, has recovered from the sharp downturn of 2008 and 2009. In the US market, during the first half of 2014, room demand was up 4.2% and room revenue was up 8.6%. Randy Smith of Smith Travel Research (STR) states, "The surge in demand we witnessed during the summer of 2014 even caught us by surprise...and it certainly is nice to be pleasantly surprised." So why is now a good time to harvest the value that revenue management can bring to the table? The answer relates to the cyclical nature of our business, combined with mounting pressure on profitability. A Global Vi...
Hotel Financing: JMBM’s Preferred EB-5 Construction Financing Program for Top Developers & Projects
Jonathan Bloch | December 9, 2014
By Jim Butler and the Global Hospitality Group® 09 December 2014 Click here for the latest articles on EB-5 Financing. JMBM is sourcing low-cost mezzanine capital for new construction through EB-5 financing for its top developer-clients. To qualify for this program, the borrower must be an experienced developer with a superb track record, a superior reputation and a great project. If you don't meet those threshold requirements, then don't read any further, because this program does not apply to you. If you are still reading, the question is: "Can you benefit from mezzanine financing with an all-in cost to you of approximately 6 â...
Pinnacle Hotel Management Automates Budgets and Forecasts for 26 Hotels with Aptech’s Targetvue
Pinnacle Hotel Management | December 2, 2014
Major Marriott and Hilton Operator Simplifies Budget and Forecast Processes with Automated Property General Ledger Updates and Accurate, Easy to Maintain Reports Pittsburgh, PA - December 2, 2014 - Aptech Computer Systems announced that Pinnacle Hotel Management implemented the Targetvue Budgeting and Forecasting solution for 26 Marriott, Hilton, and independent properties. Targetvue is a hospitality-driven enterprise system that enables operators to easily compare plans with performance on a daily basis. Properties can build and implement more flexible plans to achieve business goals. Aptech is the leading provider of hospitality soft...
Plans Move Forward for Old Quarry Commons Development, Including Hotel Portion
BuildCentral | December 1, 2014
Hotel-Online and BuildCentral Add/Update 224 Hotel Projects to the New Hotel Construction Projects Database Chicago, IL. December 1, 2014 - Hotel-Online and BuildCentral have added or updated 224 hotel projects in the last two weeks to Hotel Construction, a nationwide database of hotel construction projects, openings, and key decision makers (Owner/Developers, Architects and Contractors). These proposed hotels are still in the planning stages. Now is the perfect time to have your product drawn into plans, or offer construction services: 34th Street Oceanfront Hotel (Ocean City, MD) Residence Inn by Marriott (Sunny Isles Beach, FL) ...
Hotel AG Closes 11 Hotel Transactions in November
Hotel AG | November 26, 2014
ATLANTA - December 1, 2014 - Hotel Assets Group, LLC (Hotel AG), announced today the firm has closed 11 hotel real estate transactions in the month of November and additionally, has sold or advised on 188 hotel transactions since January of 2013. Of the transactions closed, 8 were Hilton, Marriott or Starwood branded assets and 4 were full-service hotels. Geographically, the hotels were located from New York to Florida along the Eastern Seaboard of the US. The buyers consisted mostly of REITs and investment firms and the clients represented were across several ownership types. Furthermore, the firm has closed 5 portfolios within the las...
Think Beyond the Compset
Jean Francois Mourier | November 23, 2014
By Jean Francois Mourier For many, many years, hotels have used their property's compset (also known as the competitive set) in order to gauge their hotel's performance against the competition. That is definitely a smart business decision! But unfortunately, many of those same hotels are using their compset as their only basis for determining pricing of their rooms which is not the most effective way of determining nightly rates. The concept of a compset was developed when the Smith Travel Research (STR) reports were the tools that all hotels used to measure their property's performance against the competition. At that time, using STR c...
Pebblebrook Hotel Trust Acquires the 264-room Hotel Palomar Los Angeles – Westwood for $78.7 Million
Pebblebrook Hotel Trust | November 21, 2014
November 21, 2014 - BETHESDA, Md. - Pebblebrook Hotel Trust (NYSE: PEB) (the "Company") today announced that it has acquired the Hotel Palomar Los Angeles – Westwood ("Hotel Palomar") for $78.7 million. The 264-room, upper upscale, full-service boutique hotel is located in the Westwood neighborhood of Los Angeles, California. The property will continue to be managed by Kimpton Hotels & Restaurants ("Kimpton"). "We're thrilled with our acquisition of the Hotel Palomar Los Angeles – Westwood, located in the dynamic, high-barrier-to-entry West Los Angeles neighborhood of Westwood," said Jon Bortz, Chairman, President and Chief Exec...
Top 10 Things Great DOSM’s Do Every Day: #5 is a Must!
Tambourine | November 20, 2014
by Dave Spector 1. Determine the Day's Top Priorities and STICK to Them As tempting as it may be, don't flip open your computer and dive right into emailing clients, sales numbers, checking in on your team, etc. While well-intentioned, tackling your day without a plan leaves room for wandering thoughts, for conversations and projects to take longer than they should, and for frivolous activities to take over precious hours that should be dedicated to more pressing matters that impact your hotel's revenue. 2. Evaluate Your Hotel Product Dedicate five minutes to monitor your hotel's review sentiment. Read through your most recent hotel gue...
Better Focus On Using Lead Tracking Could Increase Hotel Sales Closings
Doug Kennedy | November 19, 2014
By Doug Kennedy November 19, 2014 In providing training for hotel sales and catering departments I usually find that nearly all have a robust sales lead tracking tool. There are many excellent systems out there such as SalesForce, Delphi, and Opera Sales Force Automation among others. Yet when I ask sales leaders the question "How well are your sales associates using their system?" the answer tends to be "Not as well as they should be." As great as these systems are, they of course cannot generate any revenues unless they are properly used. Rather than using these systems to better-manage their workday, many hotel salespeople I speak wi...
Sandals Upgrades BI to Latest Aptech Execuvue with Dashboards for 21 Resorts
Aptech Computer Systems, Inc. | November 18, 2014
Latest Execuvue® Business Intelligence Delivers Faster Decisions via Easy to Use Reports with Data Drill-Down; Configurable Formats Show Performance Updates Throughout the Day Pittsburgh, PA - November 18, 2014 - Aptech Computer Systems announced that Sandals Resorts International (SRI) upgraded to the latest Execuvue Business Intelligence for easy-to-use, flexible global reporting for its 21 resorts throughout the Caribbean. SRI operates Sandals, Beaches and Grand Pineapple Beach Resorts. Aptech is the leading provider of hospitality software for business intelligence, budgeting, and enterprise financial accounting. Click here for mo...
Mission Gateway Boutique Hotel Plans Start to Move Forward with Scaled Down Version
BuildCentral | November 17, 2014
Hotel-Online and BuildCentral Add/Update 242 Hotel Projects to the New Hotel Construction Projects Database Chicago, IL. November 17, 2014 - Hotel-Online and BuildCentral have added or updated 242 hotel projects in the last two weeks to Hotel Construction, a nationwide database of hotel construction projects, openings, and key decision makers (Owner/Developers, Architects and Contractors). These proposed hotels are still in the planning stages. Now is the perfect time to have your product drawn into plans, or offer construction services: Dallas Midtown Hotels (Dallas, TX) Barlow Road Hotel (Hudson, OH) Bear Creek Commons Hotel (Wil...
Prediction 2015: Chinese Investment Wave will Create Many Opportunities in the US
JMBM | November 13, 2014
By Jim Butler and the Global Hospitality Group® 13 November 2014 Click here for the latest articles on Chinese Investment or here on EB-5 Financing. As the Chinese economy continues to become more important globally, we are seeing a shift in Asian investment in the United States, particularly in California. Chinese investors will become even more active and influential over the next 10 years, and will continue adapting to Western business practices while retaining a critical sensitivity to their Chinese roots and the demographics of the Chinese population in the United States. The ineluctable demographics China's demographics are ...
Pebblebrook Hotel Trust Acquires The Westin Colonnade Coral Gables in Miami, Florida for $59.4M
Pebblebrook Hotel Trust | November 13, 2014
Davidson Hotels and Resorts will Continue to Operate the 157-room Hotel November 13, 2014 - BETHESDA, Md. - Pebblebrook Hotel Trust (NYSE:PEB) (the "Company") today announced that it has acquired The Westin Colonnade Coral Gables ("The Westin Colonnade") for $59.4 million. The 157-room upper-upscale hotel is located in Miami on Miracle Mile in the heart of Coral Gables, Florida. The hotel will continue to be operated by Davidson Hotels and Resorts ("Davidson"). "We're excited about the acquisition of The Westin Colonnade Coral Gables and the ability to further expand our presence in Miami, one of the fastest growing markets in the count...
Hotel Equities Names Garfield Campbell Regional Director of Business Development
Hotel Equities (HE) | November 13, 2014
ATLANTA, GA (November 13, 2014) -Atlanta-based Hotel Equities (HE) www.hotelequities.com recently named Garfield Campbell to the position of Regional Director of Business Development. As a member of the firm's development team, Mr. Campbell works directly with hotel owners who are looking for the best third-party partners to manage their existing hotels and with owners on new hotel development deals. He reports to Joe Reardon, Vice President of Marketing and Business Development. "We are excited to have such a highly-accomplished, top development executive join our organization, said Mr. Reardon. "Garfield brings a wealth of full servic...
Premier Hotel Corporation Maximizes Rates, Profitability with Same-Day Comp-Set Pricing Data
Premier | November 11, 2014
Cost-Effective Revcaster Solution Automatically Updates Hampton Inn's GRO Revenue Management; Delivers Daily and Weekly Market-Specific Reports for Member Hotels November 11, 2014 - Premier Hotel Corporation is a property management consultancy that enhances profitability through increased revenue and efficiency for its hotels. Premier serves both branded properties and independents. A year ago, Premier increased its focus on maximizing revenue for its hotels through a cost-effective, automated comp-set pricing data solution. In mid-2013 the company implemented pricing services from a solutions provider called Revcaster that enabled its...
Lodging Econometrics US Lodging Real Estate Trends: Pipeline Breaks Out as Development Accelerates
Lodging Econometrics | November 10, 2014
The Hotel Construction Pipeline surged forward to a five-year high in Q3 with 3,516 Projects/443,936 Rooms. The Pipeline has posted double-digit Year-Over-Year (YOY) increases for four consecutive quarters in both Projects and Rooms. In 3Q14, YOY increases are up 25% and 24% respectively, signaling a breakout into the expansion phase of the current real estate cycle which is likely to continue another two-to-three years. Projects Under Construction, 1,062 Projects/134,292 Rooms, are up a booming 50% by Projects and 46% by Rooms YOY. Projects Scheduled to Start in the Next 12 Months are also strong, up 36% and 34%, at 1,375 Projects/165...
Using Condo Hotels for Financing New Hotel Development
JMBM | November 10, 2014
Traditional condo hotel structures as "non-securities" By Jim Butler and the Global Hospitality Group® 10 November 2014 Click here for the latest articles on Condo Hotels High end hotel development in 2015 Almost every developer of a high end or luxury hotel in 2015 will at least consider using the condo hotel approach as a financing technique for new development, conversion or adaptive reuse projects. Anyone evaluating a condo hotel structure needs to know, that with recent changes in the law, there are now two different approaches available: (1) Non-Security Approach — This is the traditional approach used for almost every c...
Industry Leader Jules Sieburgh Joins Puzzle Partner Team
Puzzle Partner | November 10, 2014
Energizing New Technologies Changing the Hospitality and Travel Space Toronto, CA, - November 10, 2014 Puzzle Partner continues to expand with the announcement that hospitality technology industry icon Jules Sieburgh, CHTP, has joined their team. Mr. Sieburgh will be advising promising future technologies on strategies, VC funding and advancing angel investments. The arrival of Mr. Sieburgh, in addition to the recent addition of Seth Christian, supports the vision of growing the firm's depth of services for technology startups. Mr. Sieburgh has more than three decades of notable accomplishments in the hospitality and travel industry, mo...
The Edgewater Selects Infor for Hospitality-Specific Financial Management
The Edgewater | November 10, 2014
Infor SunSystems to Support Strategic Business Decisions with In-Context Analytics NEW YORK - Nov. 10, 2014 - Infor, a leading provider of business application software serving more than 73,000 customers, today announced that The Edgewater has selected Infor SunSystems to benefit from an integrated, industry-specific application for financial management. A historic hotel located in downtown Madison, Wis., The Edgewater chose Infor SunSystems because of its hospitality-focused accounting functionality and ability to meet the hotel's needs right out-of-the-box without requiring extensive customization. Its combination of usability and fle...
