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
Global Hotel Investment on the Rise With Nearly 80% of Investors Revealing Plans to Buy in 2022
JLL | September 22, 2022
CHICAGO, September 22, 2022 – JLL’s Hotels & Hospitality Group has released their latest Global Hotel Investor Sentiment Survey, which reveals nearly 80% of investors plan to be net buyers in 2022. JLL surveyed global hotel investors to understand their evolving investment appetite, expectations around the industry’s recovery timeline and industry outlook. Hotel investors expressed a strengthened appetite as fundamentals continue to recover with 20% of investors indicating they will deploy between $501 million to $1 billion+ worth of capital into the hospitality sector, up from 7% of investors in 2021 and 16% in 2020. This is ...
Leisure Travel Demand Fuels Hyatt’s Rooms Growth in the Latin America and Caribbean Region
Hyatt Hotels Corporation | September 21, 2022
CHICAGO (September 21, 2022) — Hyatt Hotels Corporation (NYSE: H) announced today strategic brand growth in the Latin America and Caribbean region with a strong development pipeline of more than 20 planned luxury and lifestyle hotels and resort openings through 2024, including the expansion of Hyatt brands into new markets. “Latin America and the Caribbean are top leisure destinations for global travelers, and we continue to grow Hyatt’s brand presence in this important region to offer unique experiences to high-end travelers in new markets and sought-after destinations,” said Camilo Bolaños, senior vice president of developmen...
IHG Expands in Saudi Arabia With Hotel Indigo Jeddah Signing
IHG Hotels & Resorts | September 21, 2022
DUBAI, UNITED ARAB EMIRATES, 21 SEPTEMBER 2022: IHG® Hotels & Resorts, one of the world’s leading hotel companies, has announced the signing of a Management Agreement with Saudi Investment Group and Marketing Co (SIGMAC), a wholly owned subsidiary of Ghazzawi Group, for its second Hotel Indigo in Jeddah. Opening in Q1 2028, Hotel Indigo Jeddah will comprise of 267 hotel rooms and 173 serviced apartments. The signing which took place at Future Hospitality Summit (FHS) in Dubai comes as part of IHG’s continued expansion in the region and in Saudi Arabian hospitality market, in line with Vision 2030. The new hotel’s arrival i...
IHG Hotels & Resorts Signs First All-Inclusive Kimpton Resort to Open in Riviera Maya in Early 2024
Kimpton Hotels & Restaurants | September 20, 2022
SAN FRANCISCO (September 20, 2022) – Today, IHG Hotels & Resorts announces a new endeavor for its boutique pioneer brand Kimpton Hotels & Restaurants with the signing of its first all-inclusive resort. Kimpton continues to innovate and grow beyond its original urban boutique hotel model to evolve the brand’s product offerings while maintaining its award-winning quality and trademark ethos. Together with the resort’s owner, Sunset World, and operator, Playa Hotels & Resorts, Kimpton Hacienda Tres Ríos Resort, Spa & Nature Park will bring the brand’s signature barefoot luxury and heartfelt care to the Riviera Maya’s P...
Choice Hotels Expands Everhome Suites Across the U.S. With Largest Transaction in the Brand’s History
The Everhome Suites | September 20, 2022
ROCKVILLE, Md., Sept. 20, 2022 -- Building on its extended stay growth strategy, Choice Hotels International, Inc. (NYSE: CHH), signed an agreement on July 29, 2022, with Colorado-based real estate investment firm ServiceStar Capital Management—one of the largest extended stay developers in the nation—to develop 21 new Everhome Suites hotels. This transaction represents Choice's largest investment in the brand, outlining a significant expansion across the U.S. with future Everhome Suites planned in Colorado, Arizona, Utah, Nevada and Florida over the next few years. "Everhome Suites combines Choice Hotels' decades of...
Hilton Recognizes 53 Winners With Americas Development Awards
Hilton | September 20, 2022
Today, Hilton revealed its 2021 Americas Development Awards which recognize the achievements of owners, development partners, and hotel teams in the Americas across several categories. These annual awards celebrate the resiliency and commitment of our owners and team members who spread the light and warmth of hospitality, even during incredibly challenging times. “We are incredibly proud to recognize the owners and developers who are recipients of the 2021 Americas Development Award winners,” said Danny Hughes, executive vice president and president, Americas, Hilton. “Over the last year, we’ve seen blockbuster seasons of travel...
Marriott International Poised to Expand Asia Pacific Luxury Hotel Portfolio With 14 Expected Additional Properties by End of 2023
Marriott International, Inc. | September 20, 2022
Marriott International, Inc. today announced it expects to open 14 additional luxury properties in Asia Pacific by the end of 2023. The planned additions highlight the strategic growth of Marriott International's luxury hotel portfolio in the region, where it currently operates 156 luxury properties. Across 13 countries and regions in Asia Pacific, Marriott International’s portfolio of dynamic luxury brands continues to create bespoke experiences for today’s luxury traveler in ever popular cities including Tokyo and Melbourne, and is ready to bring these experiences to emerging destinations such as Jeju and Jiuzhaigou. With a collectio...
Construction Underway on AC Hotel Naples in Southwest Florida
OTO Development | September 19, 2022
SPARTANBURG, SOUTH CAROLINA (Monday, September 19, 2022) — Construction is underway on the AC Hotel by Marriott Naples in Southwest Florida. AC Hotel Naples is the hospitality component of Naples Square, a mixed-use development master-planned by Wheelock Street Capital and The Ronto Group. Once fully complete, Naples Square will include nearly 300 luxury condominium units, multiple restaurants and a 350-seat performing arts complex in addition to the new 150-room hotel. South Carolina-based OTO Development, part of The Johnson Group, is developing and will manage AC Hotel Naples. Project partners include MHK Architecture & Plannin...
IHG Hotels & Resorts Partners With Agung Sedayu Group to Debut First Urban Beachfront Resort in Jakarta
IHG Hotels & Resorts | September 15, 2022
Indonesia – 15 September 2022: IHG Hotels & Resorts, one of the world’s leading hotel companies, has today announced its Holiday Inn brand’s first urban beachfront resort in Indonesia. This exclusive partnership sees a collaboration with the holding entity Agung Sedayu Group, one of Indonesia's largest real estate developers. Opening in 2024, the new-build Holiday Inn Resort PIK2 White Sand Beach will be the first white sand beach resort in Greater Jakarta. Offering 180 rooms, suites, and lofts, the resort will showcase Holiday Inn’s new generation of flexible spaces with contemporary design. Guests will experience t...
Accor Partners With Shanghai Xinguang Technology Development Group to Develop Sofitel Shanghai South
September 14, 2022
Accor, in partnership with Shanghai Xinguang Technology Development Group, is pleased to announce the development of Sofitel Shanghai South, a stunning 293-key luxury urban resort, set to open in 2025. Sofitel Shanghai South will be a landmark among the new development of Zhuanghang Town in the Fengxian District – one of the city’s most historically fascinating, fastest-growing areas, with a major revitalization plan underway. The new Sofitel Shanghai South will feature the brand’s signature modern French style, deftly blended with rich Shanghainese traditional culture, while creating a sustainable and thriving future with an envi...
Sonnenblick-Eichner Company Arranges $82.425 Million of First Mortgage Financing for the Ocean Key Resort & Spa Key West, FL
Sonnenblick-Eichner Company | September 14, 2022
Beverly Hills, CA (September 14, 2022) -- Sonnenblick-Eichner Company, on behalf of Noble House Hotels & Resorts, has arranged $82.425 million of fixed rate first mortgage financing for the Ocean Key Resort & Spa in Key West, FL. Ocean Key Resort and Spa is a 100-room, full-service, waterfront resort recently honored by Forbes as the Best Luxury Resort in Key West. Proceeds from the five-year, non-recourse loan priced in the low 5% range, will be used to pay off and defease the existing loan and fund a $10.5 million renovation of the property. The life insurance company loan is interest-only for the entire term. Amenities a...
Sonesta Expands in Latin America and the Caribbean With Key Developments
Sonesta | September 13, 2022
NEWTON, Mass., Sept. 13, 2022 -- Sonesta International Hotels Corporation (Sonesta) today announced several key developments to support future expansion in Latin America and the Caribbean, including the renewal of its ongoing master franchise relationship with GHL Hoteles and the hiring of three lodging development leaders with extensive hospitality experience in these regions. These developments are expected to provide Sonesta with the infrastructure to expand beyond its Sonesta Hotels & Resorts and Sonesta Posadas del Inca brands and introduce seven new brands -- Sonesta Select, Sonesta ES Suites, Sonesta Simply Suites, The Royal...
Ennismore Signs Mama Shelter Medellín in Columbia
Ennismore | September 13, 2022
Bogotá, September 2022 - Ennismore, the fastest-growing lifestyle hospitality company, announces its latest signing in Colombia, with Mama Shelter Medellín. Due to open in 2026, the hotel will be the brand’s first hotel in Colombia and will be in the heart of the El Poblado neighborhood. The 150-room hotel will host everything a Mama Shelter is famous for – an energetic restaurant and bar space, more than 3,000 square meters of coworking space, 500 square meters of meeting rooms and a restaurant and swimming pool on the first-floor rooftop terrace. Cedric Gobilliard, Brand COO of Mama Shelter at Ennismore, said: “We’re extremely ...
Hotel Budget Guide for 2022: Everything You Need to Know
September 12, 2022
By Josiah Mackenzie With David Lund I used to think of the budgeting process as a necessary evil, but speaking with David Lund, who has 30+ years of operational and financial leadership experience working with companies such as Hilton, Best Western, and Fairmont Hotels and Resorts, changed my view on this. In his view, hotel budgeting is a way to engage your teams, align on goals, and deliver financial results. The hospitality industry has experienced unprecedented volatility over the past few years, which may make creating a budget for 2023 seem intimidating. But as Lund advises, “the only thing we know about a budget is that it...
Hilton Signs Tempo by Hilton Times Square at TSX Broadway
Hilton | September 12, 2022
NEW YORK and MCLEAN, Va. – Today, Hilton (NYSE: HLT) announced the signing of Tempo by Hilton Times Square, expected to open in 2023 as the global premiere of Hilton’s newest brand. Owned by L&L Holding Company and Fortress Investment Group, and managed by Hilton, the 661-room lifestyle hotel is located at TSX Broadway, the city’s new 46-story entertainment and hospitality destination that will also be home to TSX Entertainment, a next generation entertainment company that will empower the world’s most innovative artists and fans to stage the moments that define pop culture. Pioneering a new hospitality category, Tempo ...
The St. Joe Company and InterMountain Management Commence Construction of Residence Inn in Panama City Beach, Florida
The St. Joe Company | September 9, 2022
PANAMA CITY BEACH, Fla.--The St. Joe Company (NYSE: JOE) (“St. Joe”) and InterMountain Management, LLC (“InterMountain”) announced the commencement of construction on a new hotel in Panama City Beach, Florida. The parties have formed a joint venture to design, develop, construct and own a limited-service hotel to be located in the popular Pier Park shopping and entertainment district. The current plan calls for a 121-suite Residence Inn by Marriott to be managed by InterMountain. Residence Inn by Marriott suites have full kitchens, equipped with a full-sized refrigerator, stovetop, microwave, dishwasher and coffee maker. Plans call...
Opwest Partners and Iridius Capital to Transform Iconic Tucson Building Into The Leo Kent
Opwest Partners | September 9, 2022
TUCSON, Ariz. (Sept. 9, 2022) - Opwest Partners, a Scottsdale-based investment and development firm, has partnered with Tucson-based Iridius Capital to open Tucson’s first soft branded lifestyle hotel inside the iconic One South Church building in early 2023. The first nine floors of the building are currently being renovated into The Leo Kent, a Marriott Tribute Portfolio Hotel, while the upper floors of the tower have been upgraded and will continue to function as office space. The repositioning from office to hotel at One South Church is one of only a few high-rise adaptive reuse conversions that have been executed in the state of Arizon...
Hyatt’s New Inclusive Collection to Debut in Bulgaria With Plans for Five All-Inclusive Resorts
Hyatt Hotels Corporation | September 8, 2022
CHICAGO (September 8, 2022) – Hyatt Hotels Corporation (NYSE: H) today announced plans to expand Hyatt’s Inclusive Collection – a new global portfolio of distinct luxury all-inclusive resort brands – with five all-inclusive resorts in Bulgaria. Less than one year since the acquisition of Apple Leisure Group, a leading resort brand management platform, Hyatt continues to strengthen its leadership position in the luxury all-inclusive category. The planned expansion further demonstrates the strength and reputation of Hyatt’s all-inclusive brands as they grow in new markets outside of the Americas to attract diverse groups of travel...
Marriott Signs With Steamships Trading Company for Marriott Executive Apartments Port Moresby in Papua New Guinea
Marriott International, Inc. | September 8, 2022
Marriott International, Inc. today announced it has signed an agreement with Steamships Trading Company Ltd., to debut its first property in Papua New Guinea, the Marriott Executive Apartments Port Moresby. Slated to open in mid-2023, the property is set to be located in the heart of Port Moresby within the mixed-use development of Harbourside South. Mr. Geoff Cundle, Chairman of Steamships, said, “I’m delighted that Steamships will work with Marriott International at Harbourside South. Located in the CBD district of downtown Port Moresby, and overlooking the Coral Sea and Fairfax Harbour, this is set to be a flagship development for S...
Wyndham Hotels & Resorts Breaks Ground on Flagship Project ECHO Property in Plano, Texas
Wyndham Hotels & Resorts | September 7, 2022
PARSIPPANY, N.J., Sept. 7, 2022-- Wyndham Hotels & Resorts, the world's largest hotel franchising company with approximately 9,000 hotels across 95+ countries, celebrates today the first groundbreaking of its new extended-stay brand, in Plano, Texas. The all new-construction brand, operating under the working title "Project ECHO" is seeing great momentum with 72 hotels in the development pipeline as of the end of the second quarter. Demand for extended-stay accommodations continues to surge as interest grows among both guests and developers "This is a milestone moment for Wyndham, as we break ground on our first hotel under ...
Sam Moon Group Unveils Plans for JW Marriott Dallas Arts District
Sam Moon Group | September 7, 2022
DALLAS – September 7, 2022 - Located one block from the Dallas Museum of Art, Nasher Sculpture Center and Crow Museum of Asian Arts, 800 North Harwood Street in downtown Dallas is at the epicenter of the city’s robust cultural arts scene, the Dallas Arts District. It also happens to be the site of Sam Moon Development Group’s latest hospitality investment – the first JW Marriott Hotel in Dallas. JW Marriott is Marriott International’s upmarket brand designated as tribute to legendary founder J.W. Marriott, Sr. The JW Marriott Hotel flag flies atop only the most select and significant Marriott properties. Sam Moon Development Group...
Hospitality Financial Leadership – Why You Need an Internal Control Review Program in Your Hotel – ICR
David Lund | September 6, 2022
By David Lund Here’s the scenario. You have finally got a full-blown accounting policy manual in place. It has taken several months and a lot of work, but it’s done. Something to be proud of indeed! But wait a minute, it seems like no one knows about these policies and whenever you speak about such and such internal control not being followed, you get the deer in the headlights look. This all too familiar stare means one thing, these people have no idea what you’re talking about. Your policy manual might be complete but you’re still a long way from compliance. What’s the solution? The answer is you need a regular program to ...
IHG Hotels & Resorts to Open Hotel Indigo in Tokyo’s World-Famous Shibuya District in Late 2023
IHG Hotels & Resorts | September 1, 2022
IHG Hotels & Resorts (HQ: UK; Japan: Minato-ku, Tokyo; operating company: IHG Hotels & Resorts, Managing Director: Abhijay Sandilya; hereafter IHG) has signed a management agreement with Pan Pacific International Holdings Corporation to open Hotel Indigo Tokyo Shibuya in late 2023. Hotel Indigo Tokyo Shibuya will be the fourth Hotel Indigo-branded hotel in Japan, following Hotel Indigo Hakone Gora which opened in 2020, and Hotel Indigo Karuizawa and Hotel Indigo Inuyama Urakuen Garden, both of which opened earlier this year. With 254 open or pipeline hotels worldwide, Hotel Indigo is IHG’s lifestyle boutique hotel brand that...
Muckleshoot Casino Marks Historic Milestone with Topping Off of Hotel Tower
September 1, 2022
AUBURN, Wash., Sept. 1, 2022 -- To a resounding cheer, the final steel beam for Muckleshoot Casino's highly anticipated resort tower was hoisted into place on Friday, August 26, 2022 in Auburn, Washington. The 1,000-pound, 25-foot-long beam, adorned with the signatures of Muckleshoot Indian Tribal members as well as the men and women who built the 18-story structure, glided into place accompanied with a splash of fireworks. Hundreds of onlookers, from Tribal leadership and casino executives to community partners and construction workers, witnessed the milestone which included a blessing and cultural dance of celebr...
