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
Project and Room Counts in All Stages of the U.S. Hotel Construction Pipeline Increase YOY at Q4 2022 Close
Lodging Econometrics (LE) | January 23, 2023
January 23, 2023 – PORTSMOUTH, NH In the most recent Construction Pipeline Trend Report for the United States (U.S.) from Lodging Econometrics (LE), at the close of 2022’s fourth quarter, the U.S. construction pipeline stands at 5,465 projects/650,626 rooms, up 14% by projects and 12% rooms Year-Over-Year (YOY). In Q4, all stages of hotel construction in the U.S. experienced positive YOY growth. At the close of the quarter, there are 1,008 projects/135,492 rooms under construction, up 4% by projects and 3% rooms YOY. Projects scheduled to start construction in the next 12 months stand at 2,073 projects/235,222 rooms, up 14% by proje...
EKN Development Group Partners With Appellation to Develop Appellation Petaluma
Appellation | January 20, 2023
SONOMA COUNTY, Calif., Jan. 20, 2023 -- Experienced developer EKN Development Group partners with culinary-first hotel brand Appellation – co-founded by luxury hospitality veteran Christopher Hunsberger and celebrated American chef Charlie Palmer – to launch Appellation Petaluma, California's first experiential boutique hotel. Debuting in 2026, the 93-room property will set a new standard for hospitality in the destination, while embracing Petaluma's local place, culture and rich history. The Downtown Petaluma property will bring renowned local James Beard award-winning chef to the destination – Cha...
IHG Hotels & Resorts Plans to Bring Vignette Collection Brand to Japan With Landmark 1,000-Room Osaka Hotel Agreement
IHG Hotels & Resorts | January 20, 2023
20 January 2023 – Osaka, Japan: IHG Hotels & Resorts today announces that it has entered exclusive negotiations to add a flagship Osaka hotel with more than 1,000-rooms to its Vignette Collection brand for the first time in Japan. IHG plans to enter into a long-term agreement with The Royal Hotel, Limited and BentallGreenOak (BGO) to add the iconic RIHGA Royal Hotel Osaka to its system in 2023. It will then relaunch as RIHGA Royal Hotel Osaka - Vignette Collection in 2025, following an extensive refurbishment and repositioning of the asset. With more than 87 years of history and an enviable location in Nakanoshima, an island in...
Six Senses Tel Aviv to Open in the Iconic Golden Triangle
Six Senses | January 20, 2023
BANGKOK – January 20, 2023 – On the sandy shores of the Mediterranean Sea, Tel Aviv is a city of contrasts, blending vibrant nightlife and classic art, Bauhaus and skyscrapers, and heritage and innovation, the latter ranking second only to Silicon Valley in terms of its start-up ecosystem. Nowhere else, therefore, will Six Senses Tel Aviv feel more at home, with its mix of five 110-year-old preservation buildings and sophisticated LEED Platinum sustainability standards for the new tower. The original five buildings date back to 1909 – the early days of Tel Aviv as the world now knows it –and are the best remaining heritage of the Ahu...
Hotel Pipeline Activity Down Around the World, Except in Middle East & Africa
STR | January 20, 2023
LONDON—Middle East & Africa was the only world region to show an increase in overall hotel pipeline activity at the end of the fourth quarter, according to December 2022 data from STR. December 2022 (% changes in comparison with December 2021) Europe In Construction: 189,698 rooms (-14.5%) Final Planning: 140,663 rooms (-14.1%) Planning: 153,587 rooms (-3.6%) Total Under Contract: 483,948 (-11.2%) Germany (36,162) and the U.K. (28,426) lead Europe in total rooms in construction. Asia Pacific In Construction: 476,942 rooms (+0.6%) Final Planning: 108,955 rooms (-36.0%) Planning: 305,339 rooms (+2.6%)...
IHG to Open First Holiday Inn Hotel in Lahore, Pakistan
IHG Hotels & Resorts | January 19, 2023
Lahore, Pakistan, 19th January 2023: IHG® Hotels & Resorts, one of the world’s leading hotel companies, with presence in more than 100 countries, has announced the signing of a management agreement with Pakistan-based real estate development company Delta Centauri Pvt. Ltd (part of Providential Group) for its first “Holiday Inn hotel”, in Lahore, Pakistan. The hotel is due to open in 2026 and will bring an internationally renowned brand to leisure and business travellers visiting Pakistan in the coming years. Situated in Lahore, part of the Punjab province in Pakistan and well established as the economic hub of the country, t...
Fairmont Hotels & Resorts Continues US Expansion With Signing of Fairmont Manchester San Diego
Fairmont Hotels & Resorts | January 19, 2023
Fairmont Hotels & Resorts, part of world leading hospitality group Accor, and Manchester Financial Group today announced the signing of definitive agreements for the development and management of a Fairmont hotel in downtown San Diego, California. “We are thrilled to have the opportunity to work again with our partners at Manchester Financial Group to bring another landmark property to life,” said Mark Willis, CEO, Fairmont Hotels & Resorts. “Opening as our largest-to-date Fairmont in the US, this project represents an incredible opportunity to bring the signature luxury experience for which Fairmont is known around the globe...
STR: U.S. Hotel Construction Up Year Over Year for First Time Since Late 2020
STR | January 18, 2023
HENDERSONVILLE, Tennessee—After 25 consecutive months of year-over-year declines, U.S. hotel construction increased slightly in December, according to pipeline data from STR. At a market-level, New York City, Phoenix and Dallas are set to see the largest supply percentage increases from current construction. Among the chain scales, the Luxury and Upscale segments lead in that measurement. U.S. Hotel Pipeline December 2022 (percentage change in comparison with December 2021): In Construction: 159,344 rooms (+0.3%) Final Planning: 213,066 rooms (+15.0%) Planning: 240,092 rooms (-15.6%) “While the overall pipeline ...
CBL Properties and Vision Hospitality Group to Develop Element by Westin at Mayfaire Town Center in Wilmington, North Carolina
Vision Hospitality Group | January 18, 2023
CHATTANOOGA, Tenn.--CBL Properties (NYSE:CBL) and Vision Hospitality Group, Inc. today announced plans to develop a 139-room Element by Westin at Mayfaire Town Center in Wilmington, North Carolina. The new hotel marks the brand’s entrance into the Wilmington market. The 83,000-square-foot hotel will be located on International Drive. “We are thrilled to partner with Chattanooga-based Vision Hospitality Group to bring the unique lodging experience of Element to Mayfaire Town Center,” said Stephen Lebovitz, chief executive officer of CBL Properties. “CBL’s strategy is to bring new uses to our properties such as entertainment, dinin...
MARAEY Signs Agreement With Marriott to Build Three Distinct Hotels in Maricá, on Rio de Janeiro’s Sun Coast
MARAEY | January 17, 2023
MARAEY, Brazil's principal sustainable tourist-residential enterprise, today announced that it has signed an agreement with Marriott International, Inc., to build three distinct hotels in Maricá, Rio de Janeiro. The projects are strategically located to create an international tourist destination focused on sustainability and innovation, as well as high-end service and experiences. Situated just 45 km from Rio de Janeiro, the three-hotel complex is anticipated to mark the introduction of the exclusive Ritz-Carlton Reserve brand to Brazil and South America. In addition, the planned JW Marriott is expected to be one of the brand's first al...
Hospitality Financial Leadership: Top 10 List for Controlling Hotel Expenses
David Lund | January 16, 2023
By David Lund The word “expenses” needs to be defined and refined for this article. Expense broadly refers to any cost a business has including payroll, goods and services and cost of goods, “the cost required for something; the money spent on something.” That is its definition according to Oxford Dictionaries. To refine that we need to step back and see that hotel expenses are specifically goods and services, and not payroll or cost of goods (e.g., food cost). To put even a sharper focus on this distinction, it is hotel expenses defined according to the Uniformed System of Accounts for the Lodging Industry (USALI). That ...
Choice Signs With The Brittano Group to Develop Ascend Hotel Collection in South Boston, Virginia
Choice Hotels International, Inc. | January 11, 2023
ROCKVILLE, Md., Jan.11, 2023 -- Choice Hotels International, Inc. (NYSE:CHH) has finalized an agreement with The Brittano Group, Inc. to develop a new member of the Ascend Hotel Collection in South Boston, Virginia: The Rook Hotels. This agreement marks the first Ascend hotel awarded through the company's emerging markets franchise development program in 2022, as Choice advances its longstanding commitment to increase diversity across the hospitality industry. To commemorate the occasion and the Ascend Hotel Collection's continued growth into travelers' favorite vacation destinations, Choice Hotels executives and represen...
Agilysys to Report Fiscal 2023 Third Quarter Results January 24th and Host Conference Call and Webcast
Agilysys | January 11, 2023
ALPHARETTA, GA. — January 11, 2023 — 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 2023 third quarter results after the market closes on Tuesday, January 24th, 2023 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/BI92e7fb3f342349caafb48725c1a83416 Once registered, participants will receive a confirmation email w...
Paramount Lodging Advisors Welcomes Hunter Johnson to Team
Paramount Lodging Advisors | January 10, 2023
CHICAGO, IL – The Paramount Lodging Advisors (PLA) team is thrilled to welcome Hunter Johnson as Senior Associate. Hunter’s office will be based in Southwest Colorado with a focus on Colorado and Utah. Hunter has covered the industry with experience in hotel purchasing, financing, and brokerage. In the last 24 months, he has transacted over $87MM from small independent hotels to IHG and Hilton assets. “I am honored and grateful to be part of such an entrepreneurial, honorable, and hardworking team,” stated Johnson. If you would like to reach out to Hunter, he can be contacted at hunter@paramountlodging.com or 970.880.0621....
Sonnenblick-Eichner Company Arranges $26,750,000 of First Mortgage Financing for Two Northern California Hotels
Sonnenblick-Eichner Company | January 10, 2023
Beverly Hills, CA – January 10, 2023 -- Sonnenblick-Eichner Company, on behalf of Woodside Hotel Group, has arranged $26,750,000 of non-cross collateralized, fixed rate, first mortgage financing for the Lafayette Park Hotel & Spa and The Lodge at Bodega Bay, located in Lafayette and Bodega Bay, California, respectively. The $15 million loan on the Lafayette Park Hotel retired an existing life insurance company loan and provided for over $4 million of capital to renovate the guestrooms. Proceeds from the $11.75 million loan on The Lodge at Bodega Bay paid off an existing bridge loan facility and provided for a return of partnership...
LRE & Companies Unveils Plans for New 13-Acre Mixed-Use Development Project in Fernley, Nevada
LRE & Companies | January 5, 2023
SAN RAFAEL, CA — January 5, 2023 — LRE & Companies, a full-spectrum real estate development, asset manager, construction, and hotel management company, has unveiled plans for Fernley Promenade, a 13-acre mixed-used development project comprising of industrial, retail, and hotel, in Fernley, NV, one of the fastest-growing cities in The Silver State. “We’ve developed, opened, and operated hundreds of restaurants throughout Northern California and Western Nevada over two decades,” said Akki Patel, CEO of LRE & Companies. “Throughout our journey, we perfected the process of identifying the right pieces of real estate a...
HFTP and AHLA Announce 10-Year USALI Agreement
AHLA | December 22, 2022
HFTP/AHLA Committee Will Jointly Produce Hospitality Accounting Standard Washington/Austin, Texas (Dec. 22, 2022) — The American Hotel & Lodging Association (AHLA) and the Hospitality Financial and Technology Professionals Association (HFTP) announced today a 10-year agreement to jointly produce the Uniform System of Accounts for the Lodging Industry (USALI). The USALI is used all over the world as the “standard” for hospitality accounting, and today’s announcement reverses HFTP’s decision earlier this year to publish the next USALI edition without AHLA’s formal involvement. AHLA and HFTP have reengaged the joint Global F...
Pontiac Land Group Celebrates Completion of Capella Sydney’s Construction Phase
Capella Hotels and Resorts | December 22, 2022
22 December 2022 – Pontiac Land Group hosted distinguished guests from the NSW government, City of Sydney and the Singapore High Commission to Australia at a special ceremony marking the completion of Capella Sydney’s construction phase. Following seven years of meticulous planning, conservation and renovations, the former Department of Education building has been transformed into a 192-room hotel where contemporary design meets storied architectural features. Opening in March 2023, Capella Sydney will elevate luxury accommodation options for business and leisure travellers, bringing heightened cultural immersion to the city’s historic...
New Urban Resort and Hospitality Company Wafaifo Launched in Vietnam
December 22, 2022
HOI AN, VIETNAM – A new international hospitality brand and hotel called Wafaifo has been launched in central Vietnam. The company will open the 134-key lifestyle resort, the Wafaifo Resort Hoi An, in Q1 2024 as part of a strategic plan that includes a new mall, a hospitality asset management service, and other tourism-related projects. The new company is based in Hoi An. Its name, Wafaifo, derives from “wa” from water, and “faifo”, the historical name of Hoi An. Wafaifo intends to offer hospitality project consultancy across Indochina, drawing on the hotel industry expertise of its co-founders, Managing Director, Mr Pieter v...
Aimbridge Hospitality Unveils Concept for Second Resort Opening Soon at Frenchman’s Reef
Aimbridge Hospitality | December 21, 2022
St. Thomas, U.S. Virgin Islands - December 21, 2022 - Aimbridge Hospitality is proud to reveal the concept for the second resort that will open at Frenchman’s Reef as part of an extensive $425 million rebuild project on the property. Named Morningstar Buoy Haus Beach Resort, an Autograph Collection Hotel, the brand-new resort will offer a pure island escape for inspired seekers, immersing guests in modern comfort and the relaxing rhythm of life on the beach. Managed by Aimbridge Hospitality, Buoy Haus is slated to debut in spring 2023. Steps from the white sand beach and turquoise waters of Frenchman’s Reef, Buoy Haus will present a ...
IHG Signs With BDPST Group for Two New Hotels in Budapest
IHG Hotels & Resorts | December 20, 2022
IHG Hotels & Resorts, one of the world’s leading hospitality companies, is delighted to announce two new signings – both brand debuts for Hungary - in the beautiful capital city of Budapest. The signings are Verno House Budapest, Vignette Collection, which is set to open in summer 2023 under a franchise agreement, and voco Budapest which is due to open in late 2023 with a management agreement. Both properties have been signed with owner BDPST Group, a Hungarian-based capital investment company and one of Hungary’s largest hotel owners and operators within the upscale and luxury hospitality market. Verno House Budapest, o...
Hospitality Financial Leadership: How to Write a Great Monthly Executive Commentary
David Lund | December 19, 2022
By David Lund They go by many names: owner’s commentary, monthly commentary, executive commentary and more. The names can be different but in essence, they are all the same thing – a review of the prior month’s results plus a forward look into the coming months from a financial and market perspective. The monthly commentary is a great example of the “full disclosure principle” and if you are wanting a brush up on that you can watch this short video. So, in this piece, I am going to explain a strategy you can use to get your team to produce a great monthly commentary. Not only will you have the information you need to expla...
Ennismore to Expand Presence in Spain With Two Hotels: Mondrian Ibiza and Hyde Ibiza
Ennismore | December 15, 2022
NEW YORK, Dec. 15, 2022 -- Ennismore, the fastest-growing lifestyle hospitality company, along with Grupo Azul Mar Cala Llonga owned by Apollo, announces the expansion of its global collective in Spain, with two new Mondrian and Hyde hotels on the island of Ibiza. Mondrian Ibiza and Hyde Ibiza are set to open on the scenic bay of Cala Llonga in June 2023 and will include nine food and beverage outlets with highly programmed pool spaces, nightlife and music venues. The project reflects Ennismore's significant growth in the region, with 15 hotels opening in Europe in 2023. Hyde Ibiza Chadi Farhat, Brand Chief ...
Meliá Hotels International and Tennis Player Rafael Nadal Launch ZEL, a New Lifestyle Hotel Brand
Meliá Hotels International | December 15, 2022
Madrid, December 15, 2022.- Today, tennis player Rafael Nadal and Gabriel Escarrer, CEO of Meliá Hotels International, announced the launch of ZEL, a new brand of resort and urban leisure hotels that will first operate in Spain, and expand in key destinations throughout Europe, the Middle East, Asia and the Americas. The joint venture between Rafael Nadal and Meliá Hotels International, both from Mallorca, Spain, aims to create a unique hospitality experience focused on classic Mediterranean character throughout various global destinations. The new brand will also have a range of different partners in cuisine, design, well-being and tec...
