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 Enters Joint Venture with China Resources Land to Expand Portfolio Across China
Hyatt Hotels Corporation | October 16, 2024
CHICAGO (October 16, 2024) Hyatt Hotels Corporation announced today that affiliates of Hyatt and China Resources Land (CR Land, stock code: 01109.HK) have entered a joint venture and signed a strategic collaboration agreement to expand Hyatt’s brand presence across China. This is part of Hyatt’s asset-light expansion of its brands in Hyatt’s second largest market. Under the initial plans, the joint venture, Yuen Kai Holdings Limited, will develop and manage hotels including six existing Mumian hotels in Beijing, Shenzhen, Chengdu, Hangzhou, and Rizhao as well as two new Mumian hotels in Shaoxing and Shanghai that are set to open in t...
Landmark Hotels, Inc. Breaks Ground for Hyatt Place Sonoma Wine Country in St. Helena, California
Landmark Hotels | October 16, 2024
ST. HELENA, Calif., Oct. 16, 2024 -- Landmark Hotels, Inc. celebrated a blessing and groundbreaking ceremony at the site of the Hyatt Place Sonoma Wine Country on Wednesday, October 9th with ownership, project team members and the Sonoma County community in attendance. The highly awaited start of construction follows more than five years of work to seek the necessary entitlements before final permitting in October. The 165-unit hotel will feature brand style accommodations with a regional design palate, where guests can enjoy thoughtfully designed guestrooms featuring distinct zones for sleep, work and play. These guestrooms have been ...
Agilysys To Report Fiscal 2025 Second Quarter Results October 28th and Host Conference Call and Webcast
Agilysys | October 15, 2024
ALPHARETTA, GA. — October 15, 2024 — Agilysys, Inc. (AGYS), a leading global provider of hospitality software solutions and services that deliver High Return Hospitality, announced today that it will release its fiscal 2025 second quarter results after the market closes on Monday October 28, 2024 and host a conference call and webcast at 4:30 p.m. ET that day. Both the call and webcast are open to the public. All participants should register for the call using the participant registration URL: https://register.vevent.com/register/BIfb8adfed26314ff8abe76f95460e6fde Once registered, participants will receive a confirmation email ...
Methods in the Madness: Insiders Share Their Budgeting Approach
HotStats | October 15, 2024
Budgeting is like training for an Olympic marathon. Days are spent creating a plan to address weaknesses, build on strength and endurance, and hedge against unfortunate events. Money is earmarked for activities that hopefully will generate income or sponsorships to procure better equipment. A significant amount of time is spent too in scoping out conditions in the field and closest competitors. The goal, after all, is to be in business for the long haul while staying lean and nimble in the short term. Like all athletic training, there are no easy ways to go about budgeting. “There’s a lot going around in my head,” says Neetu Mistry, ...
White Lodging Set to Break Ground on Hotel Trinity in Austin, Texas
White Lodging | October 15, 2024
White Lodging, one of the foremost developers of urban and lifestyle hotels and restaurants in the country, in partnership with REI Real Estate, is expanding in Austin once again – adding another hotel to its already more than 4,000 guest rooms and more than 220,000 square feet of meeting space in the city. Starting this month, Hotel Trinity, Autograph Collection, will begin its 13-floor, 258-room rise at the corner of Trinity and Fifth Streets. According to Towers.net, Hotel Trinity will be the first major groundbreaking in downtown Austin since early 2023. World-Class Boutique Hotel with Private, Residential Design Features Hote...
KPC Bringing Kali Hotel & Rooftop, Autograph Collection to Hollywood Park in Greater Los Angeles
KPC Development Company | October 15, 2024
LOS ANGELES (October 15, 2024) – KPC Development Company announces its latest project, Kali Hotel and Rooftop, Autograph Collection, a landmark lifestyle hotel at Hollywood Park in Inglewood, California. Located at 3737 Stadium Drive, the 300-key hotel is adjacent to SoFi Stadium and YouTube Theater, within walking distance of Intuit Dome and Kia Forum, and 4 miles from Los Angeles International Airport, proving locale to be one of the property’s many attractive attributes. Kali Hotel and Rooftop joins Autograph Collection Hotels, part of Marriott Bonvoy’s global portfolio of over 30 extraordinary brands. The distinctive premium ...
Hard Rock Hotel & Casino Tejon Celebrates Topping Off of First Phase
The Tejon Indian Tribe | October 11, 2024
HARD ROCK HOTEL & CASINO TEJON, KERN COUNTY, Calif., Oct. 11, 2024 -- A "Topping Off" ceremony was held yesterday at the site of the new Hard Rock Hotel & Casino Tejon, which is scheduled to open in late 2025. The Hard Rock Hotel & Casino Tejon will be more than 700,000 square feet of which 150,000 square feet will be gaming space, featuring 3,000 of the most popular slots, 48 table games, and video poker and will be the second closest class III casino to Los Angeles, which is less than an hour away. Multiple dining options, including a signature Hard Rock Cafe and fine dining restaurant Council Oak Steaks and Seafood, a...
Marriott International, FibraHotel, Fibra Danhos and Beyond Ventures To Bring The Ritz-Carlton Brand Back to Cancun
THE RITZ-CARLTON HOTEL COMPANY, LLC | October 10, 2024
Anticipated to open in 2027, The Ritz-Carlton, Cancun, Punta Nizuc, will feature a world-class oceanfront resort and ultra-luxury residential condominiums, developed through an unprecedented collaboration between three of Mexico’s most experienced real estate developers. Marriott International, Inc. announced an agreement with FibraHotel (BMV: FIHO12), Fibra Danhos (BMV: DANHOS13) and Beyond Ventures to bring The Ritz-Carlton, Cancun, Punta Nizuc to the area. The property is slated to include a 131-key luxury hotel, developed and owned through a joint venture between FibraHotel and Fibra Danhos, along with 126 branded residences in a LEE...
Tropicana Las Vegas Says Final Farewell With Historic Implosion, Making Way for A’s Ballpark and Bally’s Entertainment Resort
Bally's Corporation | October 9, 2024
LAS VEGAS, Oct. 9, 2024-- In a dazzling finale that lit up the Las Vegas skyline, the legendary Tropicana Las Vegas bid farewell with a breathtaking display of fireworks and a 555-drone show, culminating in a 22-second implosion at 2:30 a.m. PT. The demolition marked the end of an era and the beginning of a new chapter for Las Vegas, paving the way for the A's state-of-the-art ballpark and a world-class entertainment resort in partnership with Bally's Corporation, a cornerstone of Vegas hospitality and gaming. "Bally's is honored to have been part of this historic moment, bidding farewell to the iconic Tropicana," said Soo Kim, ch...
Market Snapshot: Asia Pacific 2024
Hok Yean CHEE | October 9, 2024
In 2023, hotel transaction volume in the Asia Pacific recorded approximately USD11.7 billion, a 12% decrease from USD13.3 billion from the previous year. The decline in transaction activity can be attributed to the high interest environment, buyer and seller price expectation gap, and a lack of suitable or available hospitality assets in the market. Australasia (Australia and New Zealand), as well as Southeast Asia, observed decreases of 20% and 56% in transaction volume, respectively. However, the trailing 12 months have shown positive signs, with total transaction volume recording a 17% increase, reaching approximately USD12.1 billion. Thi...
IHG Hotels & Resorts and Daiwa House Group Break Ground on Orlando EVEN Hotels and Staybridge Suites Property in Florida
IHG Hotels & Resorts | October 8, 2024
ATLANTA (Oct. 8, 2024) – IHG Hotels & Resorts (IHG), one of the world’s leading hotel companies, broke ground on a new dual-branded EVEN Hotels and Staybridge Suites property in Orlando, Fla. in collaboration with owner Daiwa House Group. Scheduled to open in 2026, EVEN Hotel and Staybridge Suites Orlando Universal Blvd. will occupy a prominent position near the forthcoming Universal Epic Universe theme park and Orange County Convention Center, and welcome business and leisure guests visiting one of the most highly traveled U.S. cities. With a combined 288 guest rooms, the hotel will align the familiar hallmarks of each bran...
Marriott International Announces Expansion of the City Express by Marriott Brand Into the United States & Canada
Marriott International, Inc. | October 8, 2024
Today, Marriott International, Inc. (Nasdaq: MAR, “Marriott”) announced the expansion of the City Express by Marriott brand into the United States & Canada, marking the company’s entry into the affordable midscale transient segment in the region. Previously referred to as Project Mid-T by Marriott, this brand expansion is part of the company’s continued focus on strengthening its presence in the affordable midscale segment and offering regionally relevant lodging options for every trip purpose and every price point. “Since entering the affordable midscale space with the acquisition of City Express in the Ca...
Navigating Hotel Financing in a World Eager for New Travel Experiences
Shivan Perera | October 7, 2024
Although the coronavirus pandemic is in the rearview mirror, the hotel industry is still rebounding from the financial distress caused by the severely reduced number of travelers during that time. Years later, some positives have emerged for the industry. Lenders are cautiously optimistic about the potential for growth in hotel and hospitality investments. Increased consumer confidence, a rise in domestic travel, and a growing interest in experiential tourism are driving demand for new supply. Spread between cap rates and borrowing costs are narrow, attracting both institutional and non-institutional investors. Even though the gap between bor...
Hyatt Select Service Pipeline in the Americas Grows by More than 25% Over the Past Three Years Including Over 4,000 Pipeline Hyatt Studios Rooms
Hyatt Hotels Corporation | October 7, 2024
CHICAGO-Hyatt Hotels Corporation today announced significant growth in its select service pipeline, with a ~25% increase in the Americas over the past three years. As of June 30, 2024, this segment represents over 50% of Hyatt’s total pipeline in the Americas. Complementing growth in lifestyle, luxury and all-inclusive, Hyatt’s select service portfolio remains a key driver for market expansion and generating awareness and enrollment in World of Hyatt, the industry’s fastest growing loyalty program. Through owner-driven innovation, Hyatt is advancing its select service brands, focusing on operational efficiency and profitability. Ac...
The db Group and Hard Rock International Announce Hard Rock Hotel Malta as Part of New Development Project
Hard Rock International | October 4, 2024
ST. GEORGE'S BAY, Malta, Oct. 4, 2024 -- The Malta-based db Group and Hard Rock International yesterday broke ground and laid the foundation stone for the Hard Rock Hotel Malta along with a mixed-use development including Ora Residences with two towers of exclusive apartments and a vast mall. The total investment in the project is €300 million and is set to create hundreds of different jobs. The 5-star Hard Rock Hotel Malta will feature 394 rooms, most with balconies overlooking the Mediterranean, and 25 suites with a private pool. The hotel meticulously preserves and integrates the architecture of the original...
Peachtree Group Breaks Ground on Dual-Branded AC Hotel and Moxy Hotel in Dallas
Peachtree Group | October 3, 2024
ATLANTA & DALLAS--Peachtree Group (“Peachtree”) celebrated the groundbreaking of a new 19-story, dual-branded hotel development featuring the award-winning Marriott brands, AC Hotel and Moxy Hotel, in the heart of Uptown Dallas. The development will bring 264 upscale rooms, modern amenities and unique lifestyle offerings to the bustling McKinney Avenue corridor. The much-anticipated project promises to elevate the city's hospitality scene and is expected to open in Summer 2026. The property will offer an unmatched blend of comfort, style and convenience, featuring 110 rooms for the AC Hotel and 154 rooms for the Moxy Hotel, providi...
Choice Hotels Relaunches Radisson Individuals as Part of Its Portfolio of Brands as an Upper Upscale Soft Brand
Radisson Individuals | October 3, 2024
NORTH BETHESDA, Md., Oct. 3, 2024 -- Choice Hotels International, Inc. today announces the relaunch of Radisson Individuals in the Americas region as an upper upscale soft brand focused on full-service, boutique and independent hotels that stand apart for their distinctive local character and superior guest service. This latest major investment in the Radisson Hotels Americas brands since their acquisition in 2022 builds on Choice's legacy as a pioneer of the soft brand segment and strengthens its portfolio with an offering that serves a fast-growing segment of travelers who value an immersive, one-of-a-kind hotel experience. Choice is now e...
Silversea To Develop The Southernmost Hotel on Earth in Puerto Williams, Chile
Silversea | October 3, 2024
MIAMI – October 3, 2024 – Silversea, the leaders of luxury expedition travel experiences, today announced it is developing a hotel in Puerto Williams, Chile – the southernmost city on Earth – to create an unrivaled experience for guests to explore the rugged landscape of Antarctica. The hotel will facilitate a uniquely frictionless journey to the ‘White Continent,’ allowing guests to enjoy Silversea’s personalized service and warm hospitality throughout their voyage. Guests embarking on the cruise line’s innovative Antarctica Bridge fly-cruise program – the fastest and most direct route to Antarctica – will fly directly ...
Taiba Investments and Hilton to Introduce Madinah’s First Waldorf Astoria
Waldorf Astoria Hotels & Resorts | October 2, 2024
DUBAI, United Arab Emirates--Taiba Investments, a leader in Saudi hospitality and real estate, has unveiled a strategic partnership with Hilton (NYSE: HLT) to bring the iconic Waldorf Astoria Hotels & Resorts brand to the holy city of Madinah. Signed during the Future Hospitality Summit (FHS) World in Dubai, this agreement underscores Taiba Investments’ ongoing expansion into the high-end hospitality market and further reinforces the company’s commitment to elevating Saudi Arabia’s tourism sector by partnering with world-renowned hospitality companies such as Hilton. Commenting on the partnership, Sultan Al Otaibi, CEO, Taiba Inv...
Driftwood Capital Breaks Ground on $420M Westin Resort & Spa in Florida’s Burgeoning Space Coast
Driftwood Capital | October 2, 2024
Cocoa Beach, Fla. (Oct. 2, 2024) – Driftwood Capital (“Driftwood”) announces the successful groundbreaking of the highly anticipated Westin Cocoa Beach Resort, Spa, and Conference Center, a 502-key oceanfront development located in Florida’s fast-growing Space Coast market. Located at 1300 North Atlantic Avenue on the coastal city of Cocoa Beach, the $420 million Westin Resort & Spa will be built on a 15.7-acre site, providing the largest conference center in the region. The resort will be managed by North Palm Beach-based Driftwood Hospitality Management once completed. The event was attended by notable figures, including Cocoa ...
IHG Signs With Maxim Hotels and Resorts Management To Bring the Vignette Collection Brand to Egypt
IHG Hotels & Resorts | October 1, 2024
Egypt, 1st October 2024: IHG Hotels & Resorts, one of the world’s leading hotel companies, has signed a management agreement with Maxim Hotels and Resorts Management to bring the Vignette Collection brand to Egypt with a signing in Port Said. Scheduled to open its doors in December 2027, Vignette Collection Hotel Royal Maxim Port Said will seamlessly blend heritage and contemporary hospitality, offering guests a luxurious yet authentic experience. The 140-key hotel will feature two distinct sections, each featuring 70 rooms. The first section restored from a heritage building that once housed the Suez Canal Authorities, will prov...
Omni Hotels & Resorts Breaks Ground on Omni Pontoque Resort at Punta de Mita
Omni Hotels & Resorts | October 1, 2024
DALLAS, TX (October 1, 2024) - Omni Hotels & Resorts has officially broken ground and construction is well underway on Omni Pontoque Resort at Punta de Mita, the brand’s first luxury resort in Mexico. Set to open in late 2026, Omni has assembled a seasoned design team to bring this dynamic concept to life, including Bob Glazier, HKS Architects, Farouki Farouki, Girvin Associates, and Waldrop + Nichols, with The Beck Group managing construction. Staying true to the brand’s mission of creating elevated places and spaces that are inspired by a destination, the resort’s exterior and interiors will pay homage to the local culture with a...
Hyatt Announces Plans for Two Hotels in Magna, NEOM’s Luxury Coastal Destination
Hyatt Hotels Corporation | September 30, 2024
Park Hyatt and Andaz brands are set to debut in Jaumur, a cosmopolitan luxury marina community located in Magna on the stunning coast of the Gulf of Aqaba. Redefining coastal luxury for a new generation, Park Hyatt Jaumur and Andaz Jaumur Marina will offer personalized experiences for visitors seeking indulgence and adventure against a backdrop of awe-inspiring natural beauty. Chicago (September 30, 2024) – Hyatt proudly announces plans for the debut of two Hyatt-branded hotels in Jaumur, one of Magna’s destinations, located on the coast of Gulf of Aqaba. Park Hyatt Jaumur and Andaz Jaumur Marina will mark a significant milestone in t...
IHG and Aldar Partner to Transform Six Adjoining Hotels Into an Integrated Luxury Resort on Abu Dhabi’s Yas Island
IHG Hotels & Resorts | September 30, 2024
Abu Dhabi, UAE, September 30 2024: IHG Hotels & Resorts, one of the world’s leading hotel companies, is significantly expanding its UAE presence through a strategic partnership with Aldar, the country’s leading real estate developer, investor, and manager. Through this landmark collaboration, IHG and Aldar will undertake a major repositioning project on Yas Island to transform six hotels within the Yas Plaza complex into a single integrated Vignette Collection resort. The franchise agreement involves the refurbishment and conversion of the current hotels into distinct properties within the newly named Straylight Yas, Vignette Coll...
