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
Chartwell Hospitality and Rockbridge Partner to Develop Hilton Hotel Nashville International Airport
Rockbridge | July 20, 2022
NASHVILLE, Tenn.--Chartwell Hospitality today announced that it has partnered with Rockbridge to develop a Hilton Hotel at the Nashville International Airport (BNA). The new property will bring an elevated level of hospitality and convenience to travelers, bring new jobs and economic opportunities to the Nashville community, and help make BNA one of the highest-rated airports in the U.S. “Chartwell Hospitality is thoughtful about every property we develop, ensuring all industry and local regulations are met and every amenity is carefully planned,” said Will Schaedle, Executive Vice President of Chartwell Hospitality. “Our experien...
IHG Hotels & Resorts Signs InterContinental Athénée Palace Bucharest
IHG Hotels & Resorts | July 20, 2022
Set to open in January 2023, IHG is working with long-standing business partner ANA Hotels, one of the largest Romanian-based hotel owners, to create a truly iconic hotel in the heart of Bucharest. ANA Hotels has owned and operated IHG’s popular Crowne Plaza Bucharest for many years. With the building dating back to 1914, InterContinental Athénée Palace Bucharest will comprise 283 guest rooms, with many boasting panoramic views of Ateneului Park and the Romanian Athenaeum. The hotel is located in the heart of the city close to Palace of the Parliament, one of the world’s largest buildings, and is just a 40-minute drive from Henri Coa...
Accor Partners With Singapore’s Fragrance Group for New Novotel Hotel in Devonport, Tasmania
Novotel | July 19, 2022
Accor, together with Singapore’s Fragrance Group Limited, will open a stunning new hotel - Novotel Devonport - in Tasmania’s northwest in Q4 of this year. Construction is nearing completion on the highly anticipated 187-room hotel, which will feature a restaurant and bar, 24-hour room service and fitness centre, and a meeting room for up to 20 delegates. Overlooking the Mersey River, Novotel Devonport boasts an unrivalled waterfront location close to the Spirit of Tasmania terminal and with direct access to the paranaple convention centre. The property represents one of the most significant tourism investments in the region in year...
Accor Signs Deal for Two New Novotel Properties in Bhopal and Indore Set to Open in 2026
Accor | July 18, 2022
Accor, a world-leading hospitality group with over 420 hotels across India, Middle East, Africa and Turkey, continues to expand its footprint in Madhya Pradesh by signing two Novotel properties in Bhopal and Indore, scheduled to open in 2026. Accor signed an agreement with Kwality Developers and Amar Krishna Leisure Pvt ltd to manage the two Novotel properties. Mr. Aniruddh Kumar VP - Development, Accor India & South Asia said “We are delighted to expand our presence in Madhya Pradesh by adding more properties within the Novotel brand in Bhopal and Indore. We will continue the legacy of our existing properties by giving our visit...
Hospitality Financial Leadership – How to Do a Breakeven Analysis Using REVPAR
David Lund | July 18, 2022
By David Lund I have recently read more than one article on breakeven analysis and they all miss the mark in my books because they focus on what occupancy is needed. Occupancy is only half of the final recipe. You also need rate and really in the end you come up with your real break-even point using REVPAR. The key ingredients that need to be assembled and analyzed are fixed expenses, variable expenses based on occupancy and finally the expenses that are directly related to revenue. I will lay out examples of these in the paragraphs below. For the sake of time and simplicity were going to assume this is a limited-service hotel without...
REITs and Commercial Real Estate Well Placed for Longer Term Despite Recent Volatility
JLL | July 15, 2022
CHICAGO, July 13, 2022 – Coming off of one of the strongest years on record, the REIT market is relatively well placed despite the recent volatility. JLL’s Strategic Transactions Monitor details themes driving the REIT market, including a constructive outlook in light of sharply rising rates, an increase in take-private activity and dissipating COVID-19 driven trends. REITs, along with broader markets, are down 20% year to date, driven by growing inflation, Federal Reserve rate hikes and broader geopolitical risks. Though market participants have focused on near-term underperformance, REITs have outperformed on a longer-term basis. ...
Wyndham Hotels & Resorts Debuts ‘BOLD by Wyndham’ Expanding Support of Black Entrepreneurs
Wyndham Hotels & Resorts | July 13, 2022
PARSIPPANY, N.J., July 13, 2022-- Wyndham Hotels & Resorts, the world's largest hotel franchising company with more than 8,900 hotels in 95+ countries, announced today BOLD by Wyndham, a new program designed to engage and advance more Black entrepreneurs on their path to hotel ownership. Developed with insight and support from existing and aspiring Black hoteliers, BOLD, which stands for Black Owners and Lodging Developers, aims to expand awareness for the unique challenges faced by Black entrepreneurs while using the scale and resources of Wyndham to help address those challenges and increase the number of Black hoteliers. "...
Agilysys to Report Fiscal 2023 First Quarter Results July 26th and Host Conference Call and Webcast
Agilysys | July 13, 2022
ALPHARETTA, GA. — July 13, 2022 — Agilysys, Inc. (AGYS), a leading global provider of next-generation, cloud-native SaaS and on-premise hospitality software solutions and services, announced today that it will release its fiscal 2023 first-quarter results after the market closes on Tuesday, July 26th, 2022 and host a conference call and webcast at 4:30 p.m. ET that day. Both the call and webcast are open to the general public. All participants should register for the call using the participant registration URL: https://register.vevent.com/register/BIbcadd579f9d0440a90b3adb201ba0636 Once registered, participants will receive a conf...
Understanding the Role of a Hotel Asset Manager
Heinz Wehrle | July 12, 2022
By Heinz Wehrle Insights about the job description and specific tasks of a Hotel Asset Manager by visiting lecturer, Heinz Wehrle. Hotel Asset Management requires a holistic overview and understanding of the hotel business in its entirety. It is one of the few disciplines which demands both strategic thinking and analytical application. What does a Hotel Asset Manager do? The goal and purpose of the Hotel Asset Manager is to increase the value of the hotel real estate in the function as representative of the owner. To know exactly the objectives of the owner, client or employer is the foundation of our work. The HAM is the link bet...
White Lodging to Bring First Kimpton Hotel to San Antonio, Texas
Kimpton Hotels & Restaurants | July 12, 2022
SAN FRANCISCO (July 12, 2022) – Today, Kimpton Hotels & Restaurants, part of IHG Hotels & Resorts’ Luxury & Lifestyle Collection, announced it will open its first hotel in San Antonio, Texas in late 2024. Located in the Central Business District and at the intersection of the city’s vibrant La Villita and Southtown neighborhoods, the 347-room hotel will be part new-build and part adaptive reuse of an 1850s-original schoolhouse. The property’s juxtaposition of the historic and the modern will embrace the city’s spirit of authenticity and the neighborhood’s creative energy. Owned and operated by White Lodging and wi...
North Point Hospitality Breaks Ground on Riverfront Property in Savannah’s Historic District
North Point Hospitality | July 12, 2022
SAVANNAH, GA. – (July 12, 2022) – North Point Hospitality, an Atlanta-based hotel development and management company, has broken ground on its newest hotel, AC Hotel by Marriott Savannah Historic District/Riverfront. The 170-unit hotel will be located on the east end of River Street overlooking the Savannah River. “We are proud to work with Marriott International to bring this lifestyle brand to the Savannah Riverfront,” said S. Jay Patel, President, and CEO of North Point Hospitality. “With more than 20 years of development and operating experience in Savannah, we are confident the AC Hotels brand will add to the rich hotel land...
Sonnenblick-Eichner Company Arranges $50,000,000 of Acquisition and Renovation Financing for The Inn at Rancho Santa Fe, California
Sonnenblick-Eichner Company | July 12, 2022
Beverly Hills, CA (July 12, 2022) – Sonnenblick-Eichner Company on behalf of Steve Herman Hotels, has arranged $50 million in first mortgage debt for the acquisition of Inn at Rancho Santa Fe, an 82-room, full-service, luxury boutique resort located in north San Diego County’s exclusive enclave of Rancho Santa Fe, CA A portion of the loan proceeds will be used by the sponsor to fund an extensive $15 million “top-to-bottom” renovation that will reposition the resort as one of the most prominent and exclusive destinations in California. The non-recourse floating rate loan, which provided for 85% of total costs including the renovatio...
Accor and Sunmei Set to Open More Than 400 New Mövenpick Hotels Across China
Accor | July 11, 2022
Accor, a world leader in hospitality, today announced a new master franchise agreement with Sunmei Digital Intelligence Group to debut and develop Mövenpick by Accor brand across China. Together, Sunmei and Accor plan to open more than 400 Mövenpick by Accor smart technology hotels across China, representing more than 60,000 guestrooms. Sunmei Digital Intelligence Group will be Accor’s exclusive strategic partner for Mövenpick by Accor branded hotels in China, leading the brand’s aggressive expansion efforts. The first Mövenpick by Accor hotel under this new agreement will open its doors in the beautiful coastal city of Qingda...
Dream Las Vegas Group Celebrates Groundbreaking of New Hotel and Casino
Dream Hotels | July 11, 2022
LAS VEGAS, NV (July 11, 2022) – Developed by Shopoff Realty Investments and Contour, in partnership with Dream Hotel Group, Dream Las Vegas will be a driving force in the ongoing revitalization and rejuvenation of the south end of the Las Vegas Strip. The 531-room lifestyle hotel and casino pairs global architecture firm DLR Group with interior design by AvroKo, Rockwell Group and DLR Interiors, and is expected to open with seven experiential dining and nightlife venues, 12,000 square feet of meeting and event space and a 20,000-square-foot casino, in late 2024. The groundbreaking ceremony for this exciting $550 million development to...
Charlestowne Hotels Expands Origin Brand With Four New Properties
Charlestowne Hotels | July 11, 2022
Charleston, SC – July 11, 2022 – Charlestowne Hotels, an industry innovator at the forefront of full-service hospitality management, today announces four new properties in development under the Origin Hotel umbrella. These four hotels join Origin Red Rocks (CO), Origin Westminster (CO), and Origin Lexington (KY), which Charlestowne began overseeing within the last two years as part of its milestone deal with real estate development company, Thrash Group. The planned expansion will introduce Origin properties to Austin (TX), Atlanta (GA), Baton Rouge (LA), and Kansas City (MO). “One of the biggest hospitality trends we’ve se...
Radisson Hotel Group Signs Brand-New Upscale Resort in Mui Ne, Vietnam
Radisson Hotel Group | July 7, 2022
Radisson Hotel Group has continued to expand its portfolio in Vietnam with the signing of a brand-new upscale resort in Mui Ne, the popular beachside destination on the country’s stunning, sun-soaked southeast coast, just a short drive from Ho Chi Minh City. Scheduled to open in the third quarter of 2023, Radisson Resort Mui Ne is nestled on Suoi Nuoc Beach, one of the area’s most outstanding stretches of seafront, with direct access to the soft sand and sparkling sea. Unlike many other beaches along the coastline, this pristine paradise is perfect for swimming, so guests can stroll, splash and soak up the tropical sun throughout the d...
Accor Expands Its Indonesian Network With the Signing of Mövenpick Jakarta International Airport
Accor | July 6, 2022
Accor, one of the largest international hotel operators in Southeast Asia, continues its expansion in Indonesia with the signing of Mövenpick Jakarta International Airport. The new-build airport hotel is expected to open in late 2026, bringing Swiss heritage and a rich culinary legacy to Indonesia’s hospitality scene. Strategically located just a few kilometers away from Jakarta’s Soekarno–Hatta International Airport, Mövenpick Jakarta International Airport will welcome all types of travellers, crews, and local residents with heartfelt services and Swiss-inspired gastronomy. The hotel is situated in Tangerang City, the third-larges...
Fort Partners Acquires Historic Palazzo Marini in Rome
Fort Partners | July 5, 2022
MIAMI, July 5, 2022 -- Fort Partners Puerto Rico LLC (Fort Partners), led by Founder and CEO Nadim Ashi, today announced the acquisition of the Palazzo Marini (3-4) for €165 million with plans to develop the property into a luxury hotel that will be managed by Four Seasons Hotels and Resorts, the world's leading luxury hospitality company. "A project in Rome has been a dream of mine for many years. We have a clear vision and can already see this magnificent place come to life. As with our other properties, Fort Partners' commitment to delivering top quality, excellence and elegance will be ever present in the execution of this projec...
Capella Hotels and Resorts Expands Into Japan With Capella Kyoto
Capella Hotels and Resorts | July 5, 2022
SINGAPORE, July 5, 2022 -- Opening in mid-2025, Capella Hotels and Resorts will be making its debut in Japan with Capella Kyoto. Designed by world-acclaimed architect firm, Kengo Kuma and Associates, the luxurious four-story, 92-room hotel will be located in the Miyagawa-chō district, an important geiko (geisha) and maiko (apprentice geisha) neighborhood and cultural treasure in Kyoto. Defined by the flourishing Japanese art scene, Capella Kyoto mirrors Higashiyama culture through its curation of Japanese artworks and artefacts. Each unique piece and its story is framed by the interior design and architecture of the hotel, providing a sho...
Diaoyutai MGM Hospitality Partners With Shanghai West Bund Development to Bring MGM Brand to Shanghai West Bund
Diaoyutai MGM Hospitality | July 5, 2022
BEIJING, July 5, 2022-- Diaoyutai MGM Hospitality announced today it has signed a hotel management agreement with Shanghai West Bund Development (Group) Co., Ltd. to bring the famous MGM brand to Shanghai West Bund, the high-quality CAZ (Central Activity Zone) that carries the core functions of global cities. As part of the agreement, MGM will provide the full range of its signature artistic and entertainment experiences, as well as its luxury hospitality capabilities to one of the city's most famous international cultural landmarks. Benefitting from MGM's global leadership in defi...
IHG Signs With Dahej Hotels & Hospitality for New Holiday Inn Express in Gujarat
IHG Hotels & Resorts | July 5, 2022
July 5, 2022, New Delhi: IHG® Hotels & Resorts, one of the world’s leading hotel companies has signed a management agreement with Dahej Hotels & Hospitality Pvt. Ltd a subsidiary of Karmvir Group, for a new hotel – Holiday Inn Express Dahej Bharuch Road in Gujarat. The new-built hotel featuring 120 keys is expected to be operational by the first quarter of 2025. The hotel will not only solidify IHG’s presence in the state of Gujarat, but also strengthen the company’s growth in secondary markets, in line with growing demand for quality branded accommodation in the country. Strategically located on Dahej Bharuch mai...
Radisson Hotel Group Plans to Add 100 Hotels and Resorts in Thailand by 2025
Radisson Hotel Group | June 30, 2022
Radisson Hotel Group is gearing up for the recovery of travel and hospitality in Thailand with plans to exponentially expand its portfolio by adding 100 hotels and resorts in the country by 2025. The new growth plans for Thailand represent part of the Group’s wider expansion strategy which targets the growth of its current portfolio of 400 properties to over 2,000 hotels and resorts in operation and development by 2025. At present, Radisson Hotel Group has a collection of 6 properties in Thailand, with 4 hotels currently operating in Bangkok and two more in the pipeline in Phuket and Pattaya. This ambitious strategy will be driven by a...
Hyatt Plans Hyatt Centric Sapporo Slated to Open in 2024 in Northern Japan
Hyatt Centric | June 30, 2022
CHICAGO (June 30, 2022) - Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with NTT Urban Development Corporation for Hyatt Centric Sapporo. Slated to open in 2024, the 216-room hotel will mark the third Hyatt Centric property in Japan, following Hyatt Centric Ginza Tokyo and Hyatt Centric Kanazawa. The hotel will be the first Hyatt Centric hotel in Hokkaido, northern Japan, and signifies Hyatt’s focus on growing its lifestyle brand portfolio in the Asia Pacific region. Hyatt Centric Sapporo will be the ideal home base for savvy, modern explorers with its prime location in...
Ennismore to Open the SLS Punta del Este in Uruguay
Ennismore | June 29, 2022
NEW YORK, June 29, 2022 -- Ennismore, the fastest-growing lifestyle hospitality company, today announces the expansion of its international brand SLS Hotels & Residences to Uruguay with the opening of the SLS Punta del Este. SLS is part of Ennismore, a global collective of lifestyle hospitality brands, that was formed in 2021 in a joint venture with Accor. Ennismore partners with Accor to deliver scale, network growth, and distribution globally. Developed by the GNV Group and designed by the global architect studio Gómez Platero, the project will include 80 stylish state-of-the-ar...
