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
Hyatt Signs With Hotel Properties of Panama to Expand Footprint in Panama
Hyatt Regency | September 12, 2023
Expected to open in summer 2024, Hyatt Regency Panama City will help Hyatt grow its brand in a bustling leisure and business travel market CHICAGO (September 12, 2023) – Hyatt Hotels Corporation (NYSE:H) in collaboration with Hotel Properties of Panama Inc., today announced the planned expansion of the Hyatt Regency brand in the Latin America & Caribbean region with Hyatt Regency Panama City, expected to open in summer 2024. Hyatt Regency Panama City will be the first Hyatt Regency hotel in Panama City and the third Hyatt hotel in Panama. Perfectly situated for business and leisure travelers, the hotel will be in the heart of Pana...
Waterton Launches Outbound Hotels Brand
Outbound Hotels | September 12, 2023
CHICAGO (September 12, 2023) —Waterton, a Chicago-based national real estate investor and operator, announced the official launch of its new Outbound Hotels brand, a collection of locally-minded hotels offering differentiated lodging options for lifestyle travelers seeking outdoor-inspired experiences in boutique settings. From Yosemite National Park and Jackson Hole, WY to the vistas of Mammoth Lakes, CA and the bucolic Green Mountains of Vermont, every Outbound Hotels-branded property gives visitors a curated connection to the outdoors. “Outbound Hotels expands the traditional hospitality model,” said David Schwartz, CEO and chair...
Sonnenblick-Eichner Company Arranges $21,000,000 of First Mortgage Financing for Cotton Court, Lubbock, Texas
Sonnenblick-Eichner Company | September 12, 2023
Beverly Hills, California – September 12, 2023 – Sonnenblick-Eichner Company has arranged $21 million of fixed-rate, first mortgage financing for the Cotton Court hotel located in Lubbock, Texas. The five-year, fixed-rate loan is non-recourse and was funded by a Wall Street investment bank. The loan is interest-only for the entire term at an interest rate of 7.6%. A rate buydown was required by the lender to achieve this rate and proceeds. The 165-room upscale boutique hotel benefits from its excellent location in downtown Lubbock. It is one mile from both Texas Tech University, a campus with over 40,000 students, and Lubbock’s do...
Club Med Signs Exclusive Partnership Agreement With Paradise Indonesia
Club Med | September 7, 2023
Jakarta, 7 September 2023 – A Memorandum of Understanding (MoU) was signed between PT. Indonesian Paradise Property Tbk. (“Paradise Indonesia”) and Vacances (s) Pte. Ltd. ("Club Med"). The signing was made between Mr. Anthony Prabowo Susilo, President Director & CEO of PT Indonesian Paradise Property Tbk, and Ms.Rachael Harding, CEO of East and South Asia & Pacific Markets at Club Med. The signing ceremony was held at Residence OnFive, Grand Hyatt Jakarta, one of Paradise Indonesia’s business units. According to the MoU, Paradise Indonesia and Club Med are entering into a mutually exclusive partnership for the development of...
LivAway Suites Breaks Ground on Two Properties in Washington and Montana
LIVAWAY SUITES | September 6, 2023
The developer-centric economy extended-stay hotel chain breaks ground on two more sites within first six months of brand launch Sept. 6, 2023 — LivAway Suites™, the rapidly expanding premium economy extended-stay hotel brand, has broken ground on two more properties, located in Richland, WA, at 1289 Tapteal Drive, and Missoula, MT at 3455 W Broadway Street. Both locations are expected to open in 2024. Richland and Missoula are the third and fourth groundbreakings so far this year in the brand's rapidly growing portfolio. "Notwithstanding the latest tightening in the credit markets, our plan is to continue developing LivAwa...
Construction Underway on Peppers Gladstone, Central Queensland’s First Five-Star Hotel
Accor | September 6, 2023
CONSTRUCTION COMMENCES ON CENTRAL QUEENSLAND’S FIRST FIVE-STAR HOTEL Accor, the largest hotel operator in Australia and New Zealand, together with Yaralla Sports Club are delighted to announce that construction has commenced on Peppers Gladstone - the region's first five-star hotel. Anticipated to open its doors to guests in mid-2024, Peppers Gladstone promises an unparalleled level of luxury and comfort that will redefine the hospitality landscape in Central Queensland. The hotel marks a significant milestone for Accor as it merges the prestigious 32-room Peppers Gladstone with the stylish 60-room Mantra Gladstone under one roof i...
Engage Their Hearts and Minds First
David Lund | September 5, 2023
You might think that getting your hotel leadership team excited about accounting is like convincing them it is fun to go to the dentist. Your average person wants nothing to do with it because they are predisposed to think it is yucky, boring and better left to someone who has trouble walking and talking at the same time. But once they begin to understand what the numbers mean and how they apply this understanding to general operations and the bottom line, they will feel just the opposite. My book, The Prosperous Hotelier, aims to do just that. Hotel leaders ALL want to have the financial wherewithal to dazzle their peers. They know i...
Marriott International Strengthens Expansion Plans in Türkiye With 13 Deal Signings Comprising Over 2,000 Rooms
Marriott International | September 5, 2023
Signed projects include the anticipated debut of Fairfield Inn by Marriott in the country Marriott International, Inc. (NASDAQ: MAR) reinforced its long-term commitment to Türkiye with the announcement of 13 deal signings comprising over 2,000 rooms. The signings are expected to further enhance the company’s footprint in the country where it currently has a portfolio of 48 properties and nearly 8,000 rooms across 21 brands. “As one of the most sought-after tourist destinations in the world, Türkiye continues to provide the company with opportunities to further diversify its portfolio across primary, secondary, and tertiary markets i...
Construction to Begin in September for $250 Million Avani Hotel in Mooloolaba
Avani Hotels | September 1, 2023
A brand new 13-storey hotel in a world-class destination offering a stunning rooftop bar, pool, restaurant and a conference and wedding venue is set to transform a popular Coastal seaside suburb. Construction of the Avani Hotel will start in September for the long-awaited $250 million 4.5-star property, on the corner of Brisbane Road and First Avenue at Mooloolaba. Sunshine Coast Council has given the green light with the finalisation of development approvals for the key project that will help boost the local economy through the creation of jobs and bring tourists to the region. Designed by renowned architect Cottee Parker Architects an...
SH Hotels & Resorts Expands Treehouse Hotels Brand to Australia With 2026 Opening of Treehouse Adelaide
Treehouse Hotels | August 31, 2023
WHAT: SH Hotels & Resorts, the sustainable brand management company founded by Starwood Capital Group Chairman and CEO Barry Sternlicht, announces its first Treehouse Hotel in Australia, scheduled to open in Adelaide in 2026.Treehouse Hotels, the free-spirited lifestyle hospitality brand acclaimed for “celebrating the joy of youth, freedom, fun and friends, real and imaginary,” is founded on the adventurous ideas that inspire a child to build their "treehouse" and hang. Treehouse Hotels creatively capture the carefree comfort, freedom, warmth and wonder of childhood. Designed to appeal to the youthful and playful spirit in all of u...
Marriott International Signs Agreement With Dalands Holding to Bring W Hotels to Al Marjan Island in Ras Al Khaimah
W Hotels | August 31, 2023
Overlooking the Arabian Gulf, the urban escape is anticipated to feature the brand’s detail-driven design and innovative programming Marriott International, Inc., today announced it has signed an agreement with Dalands Holding in collaboration with Marjan, the master-developer of freehold properties in Ras Al Khaimah, to bring W Hotels to Al Marjan Island. Slated to open in Q1 2027, W Al Marjan Island is anticipated to mark W Hotels first property in the emirate of Ras Al Khaimah bringing bold design, outstanding service and always-on programming. Al Marjan Island is Marjan’s flagship archipelago island off the coast of the city set a...
IHG Hotels & Resorts Breaks Ground on Two Atwell Suites Hotels in Nevada and Texas
IHG | August 31, 2023
ATLANTA (August 31, 2023) – IHG Hotels & Resorts (IHG), one of the world’s leading hotel companies, recently celebrated the ceremonial groundbreakings of two new Atwell Suites properties in Henderson, Nev. and Fort Worth, Texas. Both hotels are projected to open in mid-late 2024 and join a rapidly expanding pipeline that will bring 35 additional properties and more than 3,500 rooms to the U.S. in the coming years. Created to fill a growing need in the all-suites, upper-midscale category, Atwell Suites hotels are thoughtfully designed for guests seeking flexibility, discovery and kinship when they travel. Each hotel features guest...
SODIC Partners With Nobu Hospitality to Expand Nobu Brand in Egypt
Nobu Hospitality | August 30, 2023
Nobu Hospitality set to open its first hotel and restaurant in Portugal NEW YORK, August 30, 2023 — Nobu Hospitality, the fastest growing luxury lifestyle brand founded by Chef Nobu Matsuhisa, Robert De Niro, and Meir Teper, is pleased to announce its expansion into Portugal marking another significant milestone in the company's global expansion strategy. The Nobu Hotel and Restaurant Lisbon is the first stage of Nobu Hospitality's planned expansion into Portugal which is part of the group's global growth strategy. With its distinctive blend of luxury, culinary innovation, and immersive guest experiences, Nobu Hospitality c...
Hotel Calimala to Expand With Acquisition of Adjacent Historic Building in Florence’s Centro Storico Neighborhood
HOTEL CALIMALA | August 30, 2023
New York – August 30, 2023: Set in the charming Centro Storico neighborhood, Florence’s beloved 38-room boutique Hotel Calimala will ascend to new heights this October 2023 through the acquisition of a neighboring building, adding 65 keys to the hotel. The hotel’s original east-facing structure is housed in a landmark 19th-century Eclectic architecture-style building, while the endeavor will herald the arrival of a magnificent westward building, spanning across five floors with 65 brand-new rooms, each meticulously designed by acclaimed and esteemed architect, Alex Meitlis (of Ottolenghi’s London restaurants). Located just a s...
Three Chain Scales Hit Record-High Project Counts in the Global Pipeline at Q2
Lodging Econometrics (LE) | August 30, 2023
August 30, 2023 – PORTSMOUTH, NH In the Q2 ‘23 Global Construction Pipeline Trend Report from Lodging Econometrics (LE), analysts state that the total global construction pipeline stands at 14,572 projects/2,310,238, up 3% year-over-year (YOY) by projects and 1% YOY by rooms. Worldwide, at the close of the second quarter, there are 6,154 projects/1,108,498 rooms under construction, 3,679 projects/506,760 rooms scheduled to start within the next 12 months, and 4,739 projects/694,980 rooms in the early planning stage. Luxury, upper upscale, and the upper midscale chains dominate the pipeline at Q2, reaching record project counts at...
The Peabody Getting Its Ducks in a Row via NEW Financial Budgeting & Forecasting Solution
Aptech Computer Systems, Inc. | August 30, 2023
PITTSBURGH, August 30, 2023 — Known as “The South’s Grand Hotel, The Peabody Memphis, a Forbes Four-Star and AAA Four-Diamond rated property, is an icon in Tennessee. Listed on the National Register of Historic Places, the hotel is home to five resident Mallard ducks that march daily through its lobby following their Duckmaster. Operating a property of this stature takes precision and hospitality excellence – especially when it comes to financial matters. For the last 20 years, The Peabody has relied on Aptech to automate its enterprise accounting processes. This month, the property will go live with Aptech’s budgeting and forecasti...
Projects in Early Planning in the Middle East Hotel Construction Pipeline Hit All-Time High in Q2 ‘23
Lodging Econometrics (LE) | August 29, 2023
August 29, 2023 – PORTSMOUTH, NH In the recent Middle East Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), the region continues to show steady pipeline growth in the second quarter of 2023, with the highest project count since Q1 2020. The total pipeline stands at 597 projects/146,521 rooms, up 10% and 5%, respectively, year-over-year (YOY). At the close of the second quarter, projects under construction stand at 330 projects/90,619 rooms. Projects scheduled to start construction in the next 12 months increased 17% by projects YOY to 102 projects with 23,909 rooms. Projects in the early planning stage increase...
Alterra Mountain Company to Expand Deer Valley Resort
Alterra Mountain Company | August 24, 2023
Utah Resort Will Double Its Skiable Terrain While Adding Premier Hospitality via a New Village and Portal DENVER--(August 24, 2023)--Alterra Mountain Company, the world’s premier mountain operating company, has announced a major terrain expansion of Deer Valley Resort that will add 3,700 acres of terrain to its world-renowned, ski-only destination located in the Wasatch Mountains in Park City, Utah. In addition, the development of a new village and portal will dramatically improve access to the resort while adding world-class lodging, dining, and retail amenities in partnership with Extell Development Company. The expansion...
UK & Germany With the Strongest Hotel Pipelines in Europe at Q2 2023
Lodging Econometrics (LE) | August 24, 2023
August 24, 2023 – PORTSMOUTH, NH In the Q2 2023 Europe Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), analysts report the region currently has 1,715 projects/256,578 rooms in its construction pipeline at the close of the quarter. There are currently 776 projects/118,400 rooms under construction. Projects scheduled to start construction in the next 12 months stand at 404 projects/61,842 rooms and those in the early planning stage stand at 535 projects/76,336 rooms. The top countries in Europe’s construction pipeline at the close of the second quarter are the United Kingdom with 322 projects/45,181 rooms, ...
Hilton Brings First Internationally Branded Airport Hotel to Saudi Arabia With Signing of Hilton Dammam Airport
Hilton Hotels & Resorts | August 21, 2023
The property joins Hilton’s expanding portfolio in Saudi Arabia, serving the eastern region with direct access to King Fahd International Airport DAMMAM, Saudi Arabia – Hilton (NYSE: HLT) is continuing its expansion across Saudi Arabia with the signing of Hilton Dammam Airport, its first airport hotel in the country. The 273-key property will be completed in partnership with Al Musbah Group and Damman Airports Company (DACO). Hilton Dammam Airport will offer guests spacious and contemporary accommodation with direct skywalk access to the terminal building at King Fahd International Airport, one of the busiest airports in Saudi Ar...
Upscale and Upper Midscale Brands Dominate China’s Hotel Construction Pipeline at Q2 ‘23
Lodging Econometrics (LE) | August 21, 2023
August 21, 2023 – PORTSMOUTH, NH — As seen in the most recent Construction Pipeline Trend Report for China from Lodging Econometrics (LE), the country’s pipeline stands at 3,666 projects/678,965 rooms. At the close of the second quarter, the total pipeline is slightly less than the all-time high of 3,711 projects/704,101 rooms set in the second quarter of 2022. Projects in the under construction stage in China rose slightly year-over-year (YOY), closing the quarter at 2,655 projects/478,703 rooms. Projects scheduled to start construction in the next 12 months stand at 357 projects/64,174 rooms. Projects in the early planning stage re...
The Hotel Maria Announces December 2023 Opening in Helsinki
Preferred Hotels & Resorts | August 17, 2023
Heralding a New Era in Luxury Nordic Hospitality, This Urban Oasis Will Be Preferred Hotels & Resorts’ First Legend Collection Property in Finland HELSINKI, Finland (August 17, 2023) — The Hotel Maria will redefine Nordic hospitality when it opens its doors in the heart of Helsinki on December 15, 2023 as a member of Preferred Hotels & Resorts’ prestigious Legend Collection. Nestled in the historic Kruununhaka district, The Hotel Maria is a destination in its own right with 117 spacious rooms, including 38 luxurious suites, alongside two elegant restaurants and bars, a ballroom, chapel and state-of-the-art spa and wellness fa...
Accor Signs With Sarin Hotels to Open The Sebel Wellington Thorndon
Accor | August 17, 2023
ACCOR BOLSTERS ITS NEW ZEALAND PORTFOLIO WITH THE SIGNING OF THE SEBEL WELLINGTON THORNDON ACCOR’S THE SEBEL BRAND DOUBLES IN NEW ZEALAND IN 2023 Accor, Australia and New Zealand’s largest hotel operator, is thrilled to announce a signing agreement with Sarin Hotels to open a second The Sebel hotel in Wellington - The Sebel Wellington Thorndon - following the successful opening of The Sebel Wellington Lower Hutt in May this year. Located at 172 Thorndon Quay in Wellington’s central suburb of Piptea, The Sebel Wellington Thorndon is set to open in September 2023. The beautifully-appointed nine-storey serviced apartment hotel is id...
The Hotel Group & Hogback Development Celebrate the Tru by Hilton Yakima Topping Off
The Hotel Group | August 17, 2023
Yakima, WA - August 17, 2023 - The Hotel Group (THG), an affiliate of Hotel Equities(HE), and a leading national hotel management, investment and development company, along with Hogback Development, will celebrate the topping off of the 74-room Tru by Hilton Yakima, WA. Tru by Hilton Yakima is located next to the Home2 Suites in Rainier Square, which over the past few years has been transformed by Hogback Development from an under-developed and under-utilized 1960’s style-center, to a vibrant mix of restaurants, retail, and commercial business. THG and Hogback Development co-own the four-story Tru by Hilton hotel projected ...
