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
Hotel Development & EB-5 Financing: Why You Don’t Want to Form Your Own Regional Center
Jim Butler | August 4, 2014
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 4 August 2014 How should hotel developers go after EB-5 financing? Although the EB-5 immigrant visa program has been around since 1990, the current trend of using this as a source of financing for hotel development began only three years ago. We worked on one of the first hotel EB-5 financings for the W Hotel and Residences in Hollywood, and have since worked on more than 60 EB-5 projects all over the country. Now, use of the EB-5 financing program has gone mainstream. Headline grabbers include the $400 million financing of the SLS Hotel in ...
Hotel AG Closes 12 Transactions in July
Hotel AG | August 4, 2014
ATLANTA - August 4, 2014 - Hotel Assets Group, LLC (Hotel AG), announced today the firm has closed 12 separate hotel real estate transactions in the month of July. The transactions consisted of 5 full-service hotels and 7 select service hotels. The full-service assets included a 200+ room ocean front resort, a 250+ room Crowne Plaza in New England, a 300+ room convention hotel in a Eastern Seaboard resort market, a 220+ room Marriott in an Upper Midwest state, and a 210+ room hotel in the Pacific Northwest. The select service hotels that closed included a 7-story independent hotel at a major university campus; a SpringHill Suites in Pin...
Hotel Development Financing: How to Win the Race for EB-5 Capital
Jim Butler | July 30, 2014
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 30 July 2014 A viable source of capital and now mainstream The EB-5 Immigrant Investment Visa program offers an alternative means of raising capital for hotel development projects in the U.S., and the lawyers in JMBM's Global Hospitality Group® and Chinese Investment Group™ have worked on more than sixty EB-5 projects all over the United States. Over just the past 3 years, the EB-5 program has quickly gained the support of some of the largest, institutional-quality developers as well as major hotel brands. Perhaps a bit late, many develop...
Hotel Equities Re-Opens the Fully Renovated 96-room Courtyard by Marriott Memphis East in Tennessee
Hotel Equities | July 30, 2014
Atlanta, GA - July 30, 2014 - Atlanta-based Hotel Equities (www.hotelequities.com) recently held a ribbon cutting ceremony to celebrate the grand re-opening of the fully renovated 96-room Courtyard by Marriott Memphis East in Memphis, Tennessee. The hotel recently completed a comprehensive renovation and a significant profit improvement plan that exceeded Marriott's expectations and has yielded an incredible increase in revenues and profitability almost immediately. Front row, left to right: Rob Cote, Hotel Equities VP Operations; Dana Elliott, Director of Sales, Courtyard by Marriott Memphis East: Brad Rahinsky, President & COO, Ho...
Dual-Branded Hotel Complex Planned for Columbus, Ohio
BuildCentral | July 28, 2014
Hotel-Online and BuildCentral Add/Update 190 Hotel Projects to the New Hotel Construction Projects Database Chicago, IL. July 28, 2014 - Hotel-Online and BuildCentral have added or updated 190 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: Quarrier Street Hotel (Charleston, WV) Bohemian Hotel (Fort Collins, CO) South Lake Union Hotel (Se...
LE Reports U.S. Selling Price Per Room Soars in 1H 2014; Competition Intense For High-End Assets
Lodging Econometrics | July 25, 2014
Average Selling Price Per Room Year-Over-Year (YOY) catapulted 28% to $150,223 per room in 1H 2014, compared to $117,300 in 1H 13. Prices in 1H 14 are also up 17% over the year-end 2013 total of $128,352. Buyer competition is keen, as REITs and Private Equity Groups with similar investment objectives compete for the larger, high-end hotels in CBD locations of major cities, most of which have now totally recovered. The competition is similar for hotels in the top resort destinations which have been a bit slower to recover. As a result these assets still have considerable earnings and appreciation potential ahead. Internal transaction met...
Pebblebrook Hotel Trust Reports Q2 2014 Net Income of $16.6M; Same-Property RevPAR Increased 9.2%
Pebblebrook Hotel Trust | July 25, 2014
Adjusted EBITDA Rose 24.3 Percent; Adjusted FFO Per Diluted Share Climbed 29.9 Percent BETHESDA, Md.--Pebblebrook Hotel Trust (NYSE: PEB) (the "Company") today reported results for the second quarter ended June 30, 2014. The Company's results include the following: (1) See tables later in this press release for a description of same-property information and reconciliations from net income (loss) to non-GAAP financial measures, including Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA"), Adjusted EBITDA, Funds from Operations ("FFO"), FFO per share, Adjusted FFO and Adjusted FFO per share. For the details as to ...
49 Hotels Select CheckMate for Online and Mobile Check-In
CheckMate | July 24, 2014
Rydges Hotels and Resorts Partners With CheckMate to Increase Revenue, Drive Loyalty and Exceed Guest Expectations San Francisco, CA July 24, 2014 - CheckMate, the revolutionary online and mobile check-in service for hospitality, announced today that Rydges Hotels and Resorts has selected their guest-centric tools to personalize service and increase profits across 49 properties. Defined by a passion for service, Rydges is a dynamic family of hotels and resorts that accommodates over one million guests each year in Australia, New Zealand, and the United Kingdom. Working with CheckMate, Rydges anticipates seeing an increase in loyalty pro...
Over Five Thousand Hospitality Technology Professionals Gather for HITEC 2014 in Los Angeles
Hospitality Financial and Technology Professionals (HFTP) | July 23, 2014
Austin, Texas, USA (July 23, 2014) - The hospitality technology community came together last month to explore the industry's best practices and latest innovations at the Hospitality Industry Technology Exposition and Conference (HITEC®). 2014 was one of the highest attended HITEC's with 5,745 hospitality professionals representing 57 countries. The conference addressed important issues, including system selection, ethics, mobile and guestroom technology, data security, PCI Compliance and more. HITEC 2014, a service of Hospitality Financial and Technology Professionals (HFTP®), was held June 23-26 at the Los Angeles Convention Center i...
Hotel AG Closes 10 Transactions Since July 1st
Hotel AG | July 21, 2014
ATLANTA - July 21, 2014 - Hotel Assets Group, LLC (Hotel AG), announced today the firm has closed 10 separate hotel real estate transactions since July 1st. The transactions consist of 4 full-service hotels and 6 select service hotels. The full-service hotels represented include a large Crowne Plaza in New England, a 300+ room convention hotel in a Northeastern Seaboard state, a Marriott in an upper Midwest state and an IHG hotel in the Pacific Northwest. The select service hotels include a seven-story independent hotel at a major university campus; a Springhill Suites in Pinehurst, North Carolina; 2 Fairfield Inns and 1 Hampton Inn in ...
Pebblebrook Hotel Trust Acquires the 331-room Nines Hotel in Portland, Oregon for $127 Million
Pebblebrook Hotel Trust | July 18, 2014
July 18, 2014 - BETHESDA, Md. - Pebblebrook Hotel Trust (NYSE:PEB) (the "Company") today announced that it has acquired The Nines Hotel for $127.0 million. The 331-room luxury hotel is located across from Pioneer Square, in the heart of downtown Portland, Oregon. The property will maintain its association with Starwood's Luxury Collection brand and will continue to be operated by Sage Hospitality and Sage Restaurant Group ("Sage"). "We're thrilled with our acquisition of The Nines Hotel and the opportunity to further expand our presence in the high- growth Portland market," said Jon Bortz, Chairman and Chief Executive Officer of Pebbleb...
Hotel Equities Assumes Management of Fairfield Inn Fort Myers in Florida; Renovation to Begin
Hotel Equities | July 16, 2014
Atlanta, GA - July 16, 2014 - Atlanta-based Hotel Equities (www.hotelequities.com) assumed management of the Fairfield Inn hotel in Fort Myers, expanding Hotel Equities' portfolio in Florida. "We are delighted to bring our best-in-class management and award-winning guest service to the Fort Myers area," said Joe Reardon, Vice President of Marketing and Business Development for Hotel Equities. "The property will immediately undergo an extensive renovation to ensure our guests the best level of service and quality they've come to expect from Hotel Equities and Marriott." "We're excited to create additional opportunities for our associates...
Systematic Laundry in Singapore Installs InvoTech UHF-RFID Laundry System for Efficient Operations
Systematic Laundry | July 15, 2014
Why InvoTech's Laundry System? It Eliminates Unaccounted Losses, Cuts Labor Costs, Pays for Itself in One Year LOS ANGELES, CA - July 15, 2014 - InvoTech Systems, Inc. announced Systematic Laundry installed the InvoTech UHF-RFID Laundry System to efficiently manage resort laundry operations. The InvoTech Laundry System streamlines and automates laundry operations, cuts labor costs, and provides real-time information to lower operating expenses. Systematic Laundry processes up to 20,000 garments per day for Resorts World Sentosa and 50,000 garments per day for other hotel clients and international airlines. Click here for more informatio...
250-Room Sandy Springs Hotel Development Starts City Approval Process
BuildCentral | July 14, 2014
Hotel-Online and BuildCentral Add/Update 179 Hotel Projects to the New Hotel Construction Projects Database Chicago, IL. July 14, 2014 - Hotel-Online and BuildCentral have added or updated 179 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: Anderson Field Hotel (Waterbury, VT) The Chauncy (Iowa City, IA) Udipi Inn (Monroeville, PA) BlueR...
Hotel AG Welcomes Rick George, Opens Chicago Office
Hotel AG | July 14, 2014
ATLANTA - July 14, 2014 - Hotel Assets Group, LLC (Hotel AG), announced today that Rick George has joined the firm and will open the Hotel AG Chicago office. "Rick comes from a deep hospitality transaction background and will add his resume to that of Hotel AG. We believe his tenure within the hotel real estate industry will complement the Hotel AG brand," commented H. Keith Thompson, principal of the firm. "There are a few dots on the map that we want a presence in and Chicago is one of them. We know Rick very well and have great respect for his ability to sell hotels. We look forward to having him lead the team in Chicago." About Rick...
Chinese-Language Hotel Law Blog Launched by JMBM Global Hospitality Group® and HotelLawyer.com
July 10, 2014
By Jim Butler, author of www.HotelLawBlog.com July 10, 2014 LOS ANGELES-The Global Hospitality Group® and the Chinese Investment Group™ at Jeffer Mangels Butler & Mitchell LLP are pleased to announce the launch of a Chinese-language version of the Hotel Law Blog. It is available as a new tab on www.HotelLawyer.com or it can be accessed directly at www.ChineseHotelLawBlog.com. "Since 2007, our Hotel Law Blog has been a valuable resource for the hospitality industry," said Jim Butler, author of HotelLawBlog.com and chairman of the Global Hospitality Group® and the Chinese Investment Group™. "We want to share some of the experien...
Hotel Equities Assumes Management of 93-key Holiday Inn Express & Suites Port St. Lucie West in FL
Hotel Equities (HE) | July 8, 2014
Atlanta, GA-July 8, 2014 - Atlanta-based Hotel Equities (www.hotelequities.com) assumed management today of the 93-room Holiday Inn Express & Suites hotel in Port St. Lucie West, continuing to broaden Hotel Equities' large footprint in Florida. "We are delighted to bring our best-in-class management and award-winning guest service to the Treasure Coast area of South Florida," said Joe Reardon, Vice President of Marketing and Business Development for Hotel Equities. "We're excited to create additional opportunities for our associates and a strong partnership with the existing ownership group," said Reardon. We will work hand in hand ...
The Potential Additional Revenue From A Daily Quest For Just One More Booking
Doug Kennedy | July 8, 2014
by Doug Kennedy In speaking with hotel revenue and marketing managers at the HSMAI Revenue Optimization Conference last month, it seems there is an ever increasing list of tasks grabbing their attention. Analogous to what the military calls "mission creep," revenue managers are now calling this "scope creep" as in scope of work. Having been long ago tasked with managing online travel agencies since it's such a key distribution channel, it seems that anything to do with a hotel's online presence falls onto their agenda such as responding to each online guest review, rate-shopping for rate parity, and negotiating with online partners. The...
VJ Management Inc. Opens the 103-room Holiday Inn Express® Hotel in Yorkton, Saskatechewan
IHG | July 7, 2014
Hotel Located Minutes from Highway 16 and Downtown Yorkton YORKTON – July 7, 2014- InterContinental Hotels Group (IHG) [LON: IHG, NYSE: IHG (ADRs)] announces the opening of the 103-room Holiday Inn Express Yorkton hotel in Saskatchewan. Located at 63 7th Avenue North, the hotel features 21 suites, including four family suites. Prominently situated close to Highway 16, the hotel is within walking distance to Yorkton City Hall and several corporate and government offices. ) . Located one kilometer from downtown, the four-floor hotel is also nearby popular restaurants, the Deer Park golf course and Gallagher Center; which holds two indoo...
Hotel AG Summer 2014 Transactions
Hotel AG | June 30, 2014
ATLANTA - June 30, 2014 - Hotel Assets Group, LLC (Hotel AG) announced today the firm has been involved in 238 hotel transactions over the past 36 months. Over half of the transactions were upscale select service or full service hotels. "Hotel AG continues a rapid pace in hotel transaction closings. The firm has closed 1 hotel transaction every 5 days for the past 3 years. Additionally, the firm has 51 hotels under sale agreement with closings scheduled over the next 90 days," stated H. Keith Thompson, principal of the firm. "We see very strong demand in hotel real estate investing, but we remain concerned the selling window is beginnin...
CityFest Hotel (Embassy Suites) in Tuscaloosa Slated to Open September 2014
BuildCentral | June 27, 2014
Hotel-Online and BuildCentral Add/Update 180 Hotel Projects to the New Hotel Construction Projects Database Chicago, IL. June 30, 2014 - Hotel-Online and BuildCentral have added or updated 180 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: Stickney Point Hotel & Retail (Sarasota, FL) Sky Hotel Redevelopment (Aspen, CO) Elm Court Estat...
IHG Plans Multiple Dual-Branded Hotel Developments for the U.S.; 4 in Pipeline Opening by 2017
IHG (InterContinental Hotels Group) | June 27, 2014
ATLANTA, June 27, 2014-- InterContinental Hotels Group (IHG) [LON: IHG, NYSE: IHG (ADRs)] today announced plans for multiple dual-branded hotel developments across the U.S., with the first of them to open in Atlanta this week. Owned by AWH Partners, LLC, and operated by Spire Hospitality, the Atlanta hotel will be franchised by an affiliate of IHG. Located in the hometown of IHG Americas corporate headquarters, the 501-room Hotel Melia will convert to a Crowne Plaza hotel and will immediately undergo a total renovation, ultimately creating a 360-room Crowne Plaza hotel. By January of 2016, the property will open within the same buildin...
The Billboard Effect… Revisited
Jean Francois Mourier | June 27, 2014
By Jean Francois Mourier It seems like the summer is prime time for hotels and industry experts to re-examine the basic revenue management concepts that they have always held to be true. Most recently, an article was published on Tnooz.com called "Does the Expedia billboard effect still exist for hotels?", which examines the billboard effect and the various studies done by Cornell University, which proved it to be a valid phenomenon. For those who aren't familiar with the concept, the billboard effect shows that hotels are able to increase their direct booking rates, simply by being listed on OTA sites. Chris Anderson of Cornell Univers...
Benchmark Hospitality International Expands Ownership Advisory Group
Benchmark Hospitality International | June 23, 2014
Setting New Standards for Hotel Asset Management & Advisory Services New Website Will Feature Online Data Room, Private Client Access to All Documents The Woodlands (Houston), Texas, June 23, 2014 - A visionary, specialized and collaborative new brand is changing the face and future of asset management. The Benchmark Owner Advisory Group (OAG), a division of Benchmark Hospitality International®, a leading U.S.-based hospitality management company, is challenging the tired image of hotel asset management. Originally founded in 2011 as part of Benchmark Hospitality's expansion of its asset management services, today the Owner Advisor...
