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
Cornell Study Shows Use of Economic Value Added (EVA) as Barometer of Hotels’ Investment Performance
The Center for Hospitality Research | January 29, 2014
Ithaca, NY, January 29, 2014 - A study from the Cornell School of Hotel Administration demonstrates the use of economic value added (EVA) as a measurement of hotels' investment performance. The study, "Using Economic Value Added (EVA) as a Barometer of Hotel Investment Performance," by Matthew J. Clayton and Crocker H. Liu, is available at no charge from the Cornell Center for Hospitality Research (CHR). The report is issued in conjunction with the Center for Real Estate and Finance (CREF) at the School of Hotel Administration. "EVA is a well known investment tool, and it works very effectively as a barometer of investment performance f...
Three Hotel Companies Select Aptech Execuvue Business Intelligence, Profitvue Enterprise Back Office
Aptech Computer Systems | January 29, 2014
Companies Including MHG Hotels and LTS Hospitality Management Selected Aptech ASP Financial Solutions for Faster Goal Achievement at Property and Corporate Levels Pittsburgh, PA - January 29, 2014 - Aptech Computer Systems, Inc., the leading provider of hospitality software for business intelligence and enterprise financial accounting, announced that three hotel companies with a total of 20 properties selected Aptech Execuvue® Business Intelligence and Profitvue® Enterprise Back Office systems. New Aptech clients include MHG Hotels, LLC. and LTS Hospitality Management. Click here for more on Aptech's products and services. Execuvue is...
IHG & PT Hotel Dago Pakar to Open New 223-key InterContinental Bandung Dago Pakar in Indonesia
IHG (InterContinental Hotels Group) | January 27, 2014
Jakarta, 27 January 2014: InterContinental Hotels Group (IHG) and PT Hotel Dago Pakar have signed a management agreement for the 204-room and 19-villa InterContinental Bandung Dago Pakar in the prestigious Dago neighbourhood, northeast of the city centre in Bandung, Indonesia. Set to open this year, the luxurious property is located in the city's Dago Pakar development and promises views over the manicured greens of the 18-hole Mountain View Golf Course, as well as Bandung city. The new hotel is also located just seven kilometres from Husein Sastranegara International Airport and under three kilometres from the commercial hub. Purnawan ...
New outsourced revenue management startup in Orlando
BestRev.com | January 23, 2014
BestRev, LLC, is a new revenue management consulting startup, based in the Orlando, FL area. With core competencies in the areas of revenue management, rate and inventory management, online distribution and channel management, the team at BestRev is now offering their services to independent and franchise hotel properties of all sizes. According to CEO and co-founder, Zephyr Gentry, "We recognize the need that independent and franchise owners have every day: for solid expertise and know-how in the ever-changing world of e-commerce, as it relates to hotels specifically, and the travel industry, in general. The old approaches just don't w...
Marriott to Acquire Protea Hospitality Holdings for $186 Million
Marriott International, Inc. | January 22, 2014
Bethesda, Md., USA and Cape Town, January 22, 2014 – Marriott International, Inc. (NASDAQ: MAR) and South Africa's Protea Hospitality Holdings announced today that they have signed definitive agreements for the purchase by Marriott of Protea's three brands and management company. Under terms of the agreements Marriott will pay approximately 2.02 billion rand, or approximately US $186 million at current exchange rates, subject to normal closing adjustments. The purchase price represents approximately 10 times anticipated pro forma 2014 calendar year EBITDA (earnings before interest, taxes, depreciation and amortization) excluding trans...
InvoTech and T-Y Group Partner to Simplify Linen Supply and Control for Grand Beach Hotel Surfside
InvoTech Systems | January 22, 2014
Miami's Luxury Grand Beach Hotel Surfside Opens with Easy-Install UHF-RFID Linen System to Protect Valuable Assets LOS ANGELES, CA - January 22, 2014 - InvoTech Systems, Inc. announced that the Grand Beach Hotel Surfside installed InvoTech's UHF-RFID Linen System to protect the property's high-value linen investment. T-Y Group provided the hotel with 50,000 linen items pre-tagged with durable UHF-RFID laundry tags to enable instant, simplified linen inventory and tracking. InvoTech is a leading provider of systems that integrate the latest RFID technology to increase profitability for hotels, casinos, hospitals, and commercial laundry o...
The Rainmaker Group Names Chris Clement Director, Hospitality Sales
Rainmaker | January 22, 2014
Veteran Ex-Marriott International Sales and Revenue Management Executive Calls GroupREV® One of Industry's Hidden Gems ATLANTA, GA - January 22, 2014 - The Rainmaker Group, a world leader in automated profit optimization software and services for the gaming/hospitality industry, is pleased to announce the addition of veteran executive Chris Clement as Director, Hospitality Sales. In his new position, he will spearhead sales initiatives of GroupREV® - Rainmaker's sophisticated, yet to simple-to-use sales empowerment tool for group forecasting and pricing - a product Clement maintains is one of the industry's "hidden gems." "There is no...
Hotel Equities to Develop $52 Million 175-key Residence Inn in Miami Beach/Surfside, Florida
Hotel Equities (HE) | January 21, 2014
Atlanta, GA-January 21, 2014 - Hotel Equities (www.hotelequities.com), an Atlanta-based hotel management, ownership and development company, announced the execution of a Marriott franchise agreement to develop a new construction $52 million resort-style Residence Inn by Marriott in Miami Beach/Surfside, Florida. Industry veteran and award-winning hotelier Fred Cerrone founded Hotel Equities and serves as the President and CEO. The firm has grown from one hotel in Atlanta to a nationally recognized portfolio of more than 45 properties. Hotel Equities will co-develop the 175-room one-of-a kind hotel in conjunction with Hotel Development P...
Twenty Four Seven Hotels Adds TownePlace Suites Sacramento Cal Expo to Portfolio
Twenty Four Seven Hotels | January 20, 2014
Newport Beach CA, January 21,2014 – Twenty Four Seven Hotels expands its portfolio with the addition of the TownePlace Suites Sacramento Cal Expo. The hotel has 117 studio, one-bedroom and two-bedroom residential-style suites, offering 25% more space than traditional hotel rooms. The hotel features In a Pinch 24/7 food/beverage pantry, complimentary breakfast, free Wi-Fi throughout the hotel, outdoor pool exercise room, on-site business services and complimentary weekday USA Today in the lobby. The hotel is pet-friendly and discounts rates based on length of stay. TownePlace Suites Sacramento Cal Expo is within walking distance to Cal...
HVS Releases 2013-2014 Hotel Development Cost Survey
Elaine Sahlins of HVS | January 20, 2014
2013 Development Costs Rise; Market-by-Market Development Uneven HVS has released the HVS Hotel Development Cost Survey for 2013-2014, which incorporates a range of data sources including development budgets, material and labor costs indexes, and input from industry professionals, to track hotel construction costs in the United States. According to HVS San Francisco Senior Vice President Elaine Sahlins, author of the Survey, research shows that by the end of 2013, the hotel investment market as a whole had largely recovered from previous recessionary years, but the trend in market-by-market hotel development has been uneven. "The hotel ...
Feasibility Study Starts for Planned USC Hotel and Conference Center
BuildCentral | January 20, 2014
Hotel-Online and BuildCentral Add/Update 168 Hotel Projects to the New Hotel Construction Projects Database Chicago, IL. January 20, 2014 - Hotel-Online and BuildCentral have added or updated 168 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: CIA Hotel (Hyde Park, NY) Ashford Dunwoody Hotel (Dunwoody, GA) Alta Colorado Lodge and Resort (L...
Hotel Fira S.A.U and IHG to Open 276-key Crowne Plaza Barcelona Fira Center in Spain in Q1 2014
IHG (InterContinental Hotels Group) | January 20, 2014
20 January, 2014 - InterContinental Hotels Group (IHG®), one of the world's largest hotel companies, has signed a franchise agreement with Hotel Fira S.A.U to open its first Crowne Plaza® in Barcelona - Crowne Plaza Barcelona Fira Center. The hotel will open during the first quarter this year. Revealing 3, 000m2 of meeting space, the hotel will have the largest conference and meeting facilities across the entire portfolio of Crowne Plaza properties in Europe. It will be converted from an existing building to a 276 room hotel complete with a new Wellness Centre, a fitness room and a VIP club lounge. Occupying a prime location in the ci...
Comcast and Liberty Announce $1.2 Billion Philadelphia Skyscraper with New Four Seasons Hotel
Jim Butler | January 20, 2014
For the most recent update on this topic, click here By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 20 January 2014 Hotel Lawyer on Hotel Mixed-Use. JMBM's hotel lawyers are proud to be the hotel legal and advisory team for the developers on the Four Seasons luxury hotel component of this spectacular project. This is one of the high-profile hotel-retail-office mixed-use projects we have been working on for more than a year. Hotel mixed-use is back! Hotels are being added to projects with retail, residential, office, entertainment and other uses -- and the multiple uses enhance each other...
Hotel Equities Adds 13 Hotels in 4th Quarter, Re-Organizes Firm for Growth
Hotel Equities | January 17, 2014
Atlanta, GA-January 17, 2014- In a surge of unprecedented growth, Hotel Equities (www.hotelequities.com), an Atlanta-based hotel management and development company, added thirteen hotels to its portfolio in the fourth quarter of 2013. Beginning in early October with the addition of the boutique 4-star Wyvern Hotel in Punta Gorda, Florida, the firm made steady gains that included five La Quinta properties, a Courtyard and six additional hotels from Pennsylvania to Florida. "We are encouraged by the solid year-end growth we have achieved as well as the development projects that are underway for 2014," said Joe Reardon, Vice President of M...
Hotel Commercial Investment & IHG to Open Holiday Inn® Dabrowa Gornicza Katowice in Poland in 2015
IHG (InterContinental Hotels Group) | January 13, 2014
January 13, 2104 - InterContinental Hotels Group (IHG®), one of the world's largest hotel companies today announced the signing of Holiday Inn® Dabrowa Gornicza Katowice in Poland. The hotel is scheduled to open in 2015. The franchise agreement with Hotel Commercial Investment to open Holiday Inn Dabrowa Gornicza Katowice will be the first Holiday Inn hotel in the area. The 160 room hotel featuring the Open Lobby Concept will be newly built close to exhibition centre EXPO Silesia and occupies a prime location in the greater Katowice area. The hotel's main driver of demand will be MICE travellers frequenting the exhibition hall. Marcin...
Hotel Equities Hires Rob Cote and Chuck Powell as Vice Presidents of Operations to Manage Growth
Hotel Equities | January 10, 2014
ATLANTA, GA (January 10, 2013) - Atlanta-based Hotel Equities (HE) www.hotelequities.com recently added two vice presidential positions to its corporate infrastructure and brought industry veterans Rob Cote and Chuck Powell on board. Each vice president has oversight of all operations of the hotels in his division and reports directly to Brad Rahinsky, Hotel Equities' Chief Operating Officer. "Hotel Equities added 13 hotels, in both the select and full service segments, during the last quarter of 2013," said Mr. Rahinsky. "It was imperative to hire two best-in-class Vice Presidents of Operations who can sustain and continue our firm's a...
“BridgeStreet Global Hospitality” Redefines Serviced Apartment Sector
Lodging Econometrics (LE) | January 9, 2014
HERNDON, Va. – BridgeStreet Residences, Serviced Apartments and Suites – the leading international hospitality solution offering serviced apartments, today debuts a refreshed brand concept and name, BridgeStreet Global Hospitality, effective immediately. The launch introduces an industry-leading family of brands including six distinct serviced apartment experiences ranging from six- to two-star products. The newly rebranded company directly addresses sector-wide challenges, including fragmentation and a lack of service offering consistency, historically creating a barrier between consumer expectations and the end product, as detailed i...
The Plasencia Group Advises on Sale of The Hilton Concord, California
The Plasencia Group | January 8, 2014
Tampa, Fla. (January 8, 2014) – The Plasencia Group is pleased to announce the sale of the Hilton Concord located in Concord, California. Waramaug Hospitality, together with Interstate Hotels & Resorts and an alternate money management firm, acquired the 329-room hotel from Interstate, which continues to remain an investor and operator of the hotel. According to Joe Corcoran, Vice President of The Plasencia Group's Southwest Region, "The Hilton is a very well-positioned hotel in San Francisco's affluent East Bay region. It allows its new owners to deploy strategic capital supported by a strong in-place yield. They now own a recen...
Hotel Company Execs: What Keeps Them Up, What Reports are Important, Are They Going Mobile?
Aptech Computer Systems | January 7, 2014
Executives Share Top of Mind Thinking About Priorities, Challenges, and How They Do Business January 7, 2014 - After a year of recovery and growth, hotel company executives took a break to talk about challenges and what is important. Aptech's team spoke with managers from three operators who agree that taming data overload is at the top of their "challenges" list. We interviewed Brian Cornell, CIO for Concord Hospitality; Felicia Matula, Director of Finance for Pinnacle Hotel Management; and Dave Spangrud, Regional VP Operations for Highpointe Hotel Corporation. Hotel companies continuously apply new technology to their operation to inc...
Marriott Honors Top Owners & Franchisees for 2013; Partnership Circle Award Given to Four Companies
Marriott International | January 6, 2014
January 6, 2014 - Marriott International honored top owner and franchise companies at the annual MINA & Full Service Owners Conference held recently at The Ritz-Carlton, Grand Cayman. Four companies – Concord Hospitality, The Kessler Collection, Sage Hospitality and White Lodging Services – were awarded the Partnership Circle Award, the highest honor Marriott presents to its owner and franchise partners for hospitality excellence. Marriott's Partnership Circle Award honors owners and operators who have a strong alignment with Marriott in a number of different areas, from overall culture to sharing a long-term commitment with Mar...
Hotel AG Involved in 125 Hotel Transactions in 2013
Hotel AG | January 6, 2014
ATLANTA - January 6, 2014 - Hotel AG announced today the firm finished the 2013-year having sold or advised on 125 hotel transactions. Of the 125 transactions, 21 were sold during the months of November and December. The number transacted for each brand involved were: Courtyard by Marriott - 13 TownePlace Suites - 5 Choice Brands - 9 Fairfield Inn/Suites - 8 Hampton Inn/Suites - 13 Wyndham Brands - 6 Marriott - 2 Hilton Garden Inn - 16 Other Brands - 13 Residence Inn - 11 Homewood Suites - 6 Independents - 11 SpringHill Suites - 7 IHG - 5 "2013 was a good year for Hotel AG. The transactions were across the spectrum in terms of branding,...
The Rainmaker Group Achieves Recognition, Success and Drives Innovation in 2013
Rainmaker | December 30, 2013
Boosts Customer Satisfaction and Grows Reputation of Progressive Leadership ATLANTA - December 30, 2013 - The Rainmaker Group, the leading provider of pricing, revenue management and profit optimization solutions to the multifamily and gaming/hospitality industries, realized monumental success in 2013. With strong attention to detail and an acute understanding of how and where optimized pricing is evolving, The Rainmaker Group this year successfully launched numerous strategic solutions to better serve the revenue generation needs of its customers. These efforts were recognized through industry-specific accolades naming the firm as adv...
JMBM’s Hotel Lawyers Help Chinese Real Estate Developer Buy 802-room Sheraton Gateway LAX for $96 M
JMBM | December 30, 2013
For the most recent update on this topic, click here By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 30 December 2013 The hotel lawyers of JMBM's Global Hospitality Group® and Chinese Investment Group™ assisted Hazens Investment, LLC, in the company's purchase of the 15-story, 802-room Sheraton Gateway LAX Hotel, located close to Los Angeles International Airport. Hazens Investment is a subsidiary of Shenzhen Hazens Real Estate Group Co. Ltd., one of the top 100 largest construction and development companies in China, based in Shenzhen, China. Hazens Investment and the seller, an affil...
70-Room Sessions Hotel Planned for Bristol, VA
BuildCentral | December 30, 2013
Hotel-Online and BuildCentral Add/Update 98 Hotel Projects to the New Hotel Construction Projects Database Chicago, IL. December 30, 2013 - Hotel-Online and BuildCentral have added or updated 98 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: Healdsburg Plaza Boutique Hotel (Healdsburg, CA) Phipps Plaza Hotel (Atlanta, GA) Amber Valley We...
