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
Wyndham Hotels & Resorts Reports Strong Fourth Quarter and Full-Year 2021 Results
Wyndham Hotels & Resorts | February 16, 2022
PARSIPPANY, NJ - February 16, 2022 - Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months and year ended December 31, 2021. Highlights include: U.S. RevPAR for the quarter exceeded 2019 levels by 9%, growing 58% versus 2020. System-wide rooms grew 180 basis points year-over-year, including 70 basis points of growth in the U.S. and 350 basis points of growth internationally. Diluted earnings per share for the quarter of $0.52 and net income of $48 million; diluted EPS for the full-year of $2.60 and net income of $244 million. Adjusted diluted earnings per share of $0.69 for the quarter and adjusted...
Hilton Reports Fourth Quarter and Full Year Results
Hilton | February 16, 2022
MCLEAN, VA - February 16, 2022 - Hilton Worldwide Holdings Inc. ("Hilton" or the "Company") (NYSE: HLT) today reported its fourth quarter and full year 2021 results. The following results reflect the material impact that the coronavirus ("COVID-19") pandemic has had on Hilton's business. Highlights include: Diluted EPS was $0.52 for the fourth quarter and $1.46 for the full year, and diluted EPS, adjusted for special items, was $0.72 for the fourth quarter and $2.08 for the full year Net income was $148 million for the fourth quarter and $407 million for the full year Adjusted EBITDA was $512 million for the fourth quarter and $1,...
Bayshore Capital Inc., Crescent Hotels & Resorts Bring New Concept to Hospitality Landscape
Bayshore Capital | February 15, 2022
New Project with Inventive Accommodations Well Underway on Florida’s East Coast DAYTONA BEACH, Fla. (Feb. 15, 2022) – Industry icons Bayshore Capital Inc. and Crescent Hotels & Resorts have joined forces to introduce Max Beach Resort, a new concept in the evolving hospitality landscape. Driven by the combined development and hospitality management expertise and resources of the two companies, Max Beach Resort is set to open this April as the area’s first-ever, professionally managed short-term rental offering featuring enhanced resort amenities for guests. Ideally situated on a stretch of world-famous Atlantic shoreline in Da...
Marriott International Reports Fourth Quarter 2021 Results
Marriott International | February 15, 2022
Marriott International, Inc. (NASDAQ: MAR) today reported fourth quarter 2021 results. Anthony Capuano, Chief Executive Officer, said, “The 2021 fourth quarter capped off a year that showed the incredible resilience of people’s desire to travel and the appeal of our broad portfolio of 30 global brands. We experienced significant progress in global RevPAR[1] recovery in 2021 despite the emergence of new variants and ongoing headwinds from the global pandemic. By the fourth quarter, global RevPAR was 19 percent below 2019 levels, a 40-percentage point improvement from the decline in the first quarter of the year. Global average daily ra...
BLLA Welcomes Viceroy Hotels & Resorts to Its Prestigious Hotel Program
the Boutique Lifestyle Leaders Association (BLLA) | February 15, 2022
Los Angeles, CA - February 15, 2022 - The entire collection of Viceroy Hotels & Resorts joins BLLA’s distinguished program for authentic boutique and lifestyle hotels. Chief Financial Officer for Viceroy, Hilda Delgado, also joins the Boutique Lifestyle Leaders Association as an Advisory Board member for 2022. Through BLLA’s vetted application process, the following properties were accepted into the exclusive program: Hotel Emblem San Francisco - California, USA, Hotel Zelos San Francisco - California, USA, Hotel Zena Washington DC - District of Columbia, USA, Hotel Zeppelin San Francisco - California, USA, Hotel Zetta San Franc...
Club Med to Open 17 New Resorts by 2024
CLUB MED | February 11, 2022
MIAMI, FL - February 11, 2022 - Club Med, the pioneer of the all-inclusive concept for more than 70 years, will open 17 new resorts by 2024. The new openings, along with Club Med's destination-forward experiences, digital innovations, and new product novelties, will further solidify the brand as the leader in the booming all-inclusive market for families and upscale travelers. With such a wide range of locations and activities to choose from, Club Med invites guests to write their own vacation stories, emphasizing that "when everything is included, all you need to add are the memories." "Since 1950, Club Med has continued to sha...
MGM Resorts International Reports Fourth Quarter and Full Year 2021 Financial and Operating Results
MGM Resorts International | February 10, 2022
LAS VEGAS, NV - February 10, 2022 - MGM Resorts International (NYSE: MGM) ("MGM Resorts" or the "Company") today reported financial results for the quarter and year ended December 31, 2021. "Our record fourth quarter results are a testament to our talented team across the globe, our sharpened focus on operational efficiency and the proven resiliency of demand for the service and experiences that we provide at MGM Resorts," said Bill Hornbuckle, Chief Executive Officer and President of MGM Resorts International. "The strategic milestones we achieved in 2021 position us for further success in 2022, and we remain excited about our lon...
Knowland Meetings Recovery Forecast Identifies Top U.S. Markets to Recover in 2022
Knowland | February 9, 2022
New market forecast capability provides insights to help hospitality industry improve sales and investment decision making ARLINGTON, Va. — Feb. 9, 2022 — Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, announced it has added the ability to filter its U.S. Meetings Recovery Forecast by market, now known as the Top 25 U.S. Meetings Recovery Forecast (MRF25). Access to the data is complimentary and provides the industry with predictive insights into event recovery over the next three years. Click here to view the MRF25. Jeff Bzdawka, CEO, Knowland, said: “The additional da...
International Visitors Spent $10.4 Billion in December 2021
NTTO | February 8, 2022
Data recently released by the National Travel and Tourism Office (NTTO) show that in December 2021: • International visitors spent $10.4 billion on travel to, and tourism-related activities within, the United States, an increase of 108% when compared to December 2020. • Americans spent nearly $8.3 billion traveling abroad, yielding a balance of trade surplus of $2.1 billion for the month—the second month in a row during which the United States enjoyed a balance of trade surplus for travel and tourism. • International visitors spent nearly $80.1 billion on U.S. travel and tourism-related goods and services year to date (Janua...
Hyatt Signs With Thera Island Suites for Magma Resort Santorini
The Unbound Collection by Hyatt | February 8, 2022
CHICAGO, IL – February 8, 2022 – Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a franchise agreement with Thera Island Suites S.A., owners of Magma Resort Santorini, managed by Athens-based SWOT Hospitality. Expected to open in 2022 in time for the summer season, the hotel will join The Unbound Collection by Hyatt as the first Hyatt-affiliated resort in the Greek islands, featuring 59 guestrooms, including 24 suites. The signing underscores Hyatt’s strategy to grow its brand footprint in the leisure and independent collection segments across key European leisure destinations. Magma Resor...
OTH Hotels Resorts Makes Its Accounting Operation Paperless With PVNG From Aptech
Aptech Computer Systems Inc. | February 8, 2022
The enterprise accounting solution is enabling this third-party management company to drive efficiencies and self-manage their finance processes affordably PITTSBURGH, PA — February 8, 2022 — With revenue volumes among its portfolio of independent, branded and soft-brand hotels and resorts on the rise, third-party management company OTH Hotels Resorts needed a way to streamline its financial processes without incurring costly support fees. Unable to self-administer changes directly into its existing accounting system, the young hotel company — founded in January 2020 — was paying exorbitant administrative costs just to modify a s...
Hilton Partners With SCD Group LTD to Expand Portfolio in Greece With Two Hotels
Hilton | February 3, 2022
Pantelikon Athens, Curio Collection by Hilton, expected to open autumn 2024, and Hampton by Hilton Piraeus Mikrolimano, expected to open spring 2024, will be the brands’ first hotels in Greece’s capital ATHENS, Greece and MCLEAN, Va. - Hilton (NYSE: HLT) has today confirmed plans to open two hotels in Athens, as part of a management agreement with affiliates to SCD Group LTD. The greatly historic Pantelikon Athens, Curio Collection by Hilton, a 117-room hotel in the upscale northern suburb of Kifisia, will be Curio Collection by Hilton’s first hotel in mainland Greece when it opens in 2024. Hampton by Hilton Piraeus Mikrolimano, an ...
Virgin Hotels to Debut Two U.K. Hotels & a New-Build Hotel in New York City in 2022
Virgin Hotels | February 3, 2022
MIAMI, Feb. 3, 2022 -- Virgin Hotels, the lifestyle hotel brand by Virgin Group founder Sir Richard Branson, has announced its historic expansion into the United Kingdom this spring with Virgin Hotels Edinburgh, followed by Virgin Hotels Glasgow. The portfolio continues to grow stateside, with the opening of Virgin Hotels New York scheduled for late summer of 2022. Leading the charge is Virgin Hotels' Chief Executive Officer, James Bermingham, and his shining executive team. "Expanding into the United Kingdom is a major and much-anticipated milestone for Virgin Hotels. Our two new hotels in Scotland blend their distinctive perso...
Hyatt Signs With 12.18. Group to Debut Destination by Hyatt Brand in Italy With 7Pines Resort Sardinia
Destination by Hyatt | February 3, 2022
CHICAGO, IL – February 3, 2022 – Hyatt Hotels Corporation (NYSE: H) announced that a Hyatt affiliate has entered into a franchise agreement with 12.18. group to debut the Destination by Hyatt brand in Italy with 7Pines Resort Sardinia. The 76-room resort is expected to open in early July, representing several significant milestones, including the continued growth of Hyatt’s luxury resort portfolio, the first Hyatt affiliated hotel on Sardinia, and the second 7Pines Resort in Europe, joining 7Pines Resort Ibiza. The Destination by Hyatt brand is a diverse collection of luxury and upscale independent hotels, resorts and residences ...
DoubleTree by Hilton Marks European Expansion with 6 New Hotels
DoubleTree by Hilton | February 3, 2022
MCLEAN, VA - February 3, 2022 - Hilton (NYSE: HLT) has today confirmed significant expansions to its DoubleTree by Hilton portfolio, with the announcement of six new European hotels in Italy, France, Romania, Hungary, the Netherlands and Germany. DoubleTree is Hilton’s fastest growing full-service brand in Europe, with 37 hotels expected to open in the region in the next five years, and the hotels join more than 120 DoubleTree by Hilton properties currently operating in Europe. Patrick Fitzgibbon, senior vice president, development, EMEA, Hilton said, “Since its arrival in Europe in 2008, DoubleTree by Hilton has continued to lead th...
The First City Hub Trademark Collection Hotel by Wyndham Will Open in the Dominican Republic
Trademark Collection by Wyndham | February 3, 2022
Miami, FL - February 3, 2022 - Wyndham, the world’s largest hospitality franchise will open the first hotel from its Trademark Collection brand in the Dominican Republic. The City Hub Trademark Collection Hotel is expected to be completed by early 2024. The project will consist of an 82-room tower that will boast eight levels of hotel and condo-style accommodations altogether, plus two levels of common areas. Among the amenities, the property will have one full floor of co-working space, as well as restaurants, a swimming pool, event space and 105 parking spaces. This modern structure was thoughtfully designed by renowned Latin archi...
IHG and Grupa AKME Bring the First voco Resort in Europe to Szklarska Porebak, Poland
IHG Hotels & Resorts | February 3, 2022
The momentum behind very popular voco brand continues with the newest signing of voco Resort in Szklarska Poreba, Poland, as IHG Hotels & Resorts and Grupa AKME strengthen their partnership with the second agreement signed. voco Resort Szklarska Poreba will overlook the beautiful Happiness Valley and will bring the brand’s vibrant, reliably fun vision to Karkonosze Mountains. Each of hotel’s 100 bedrooms together with own craft brewery on site, food & beverage and wellness offering will offer upper upscale experience to guests looking for a true lifestyle place to stay in this lovely part of Poland. Hotel is planned to be open ...
YOTEL Continues Growth With Addition Of YOTEL London Shoreditch
YOTEL | February 3, 2022
London - February 3, 2022 - YOTEL, a global hospitality brand appealing to those looking for a unique experience through awesome people, smart design, and the creative use of technology, announced today the addition of YOTEL London Shoreditch. The former East London Hotel will be re-branded as a YOTEL opening this April. This property marks the group’s fifth city center hotel in the UK, the fourth franchise property, the second UK hotel conversion, and the nineteenth hotel in operation globally. The 161-room hotel, conveniently located in the heart of vibrant East London, on Cambridge Heath Road, already incorporates some of YOTEL’s mini...
Investing in Training Hotel Employees
Robert Mandelbaum | February 1, 2022
By Robert Mandelbaum Given the challenges U.S. hotels are having attracting and retaining employees, the need to invest in employee training is as great as it has ever been. Unfortunately, training expenditures, like all operating expenses, have been subject to major cuts in response to the extremely reduced levels of revenue incurred during 2020 and 2021. Labor is the single biggest expense within a hotel. In 2019, before COVID-19, the average property in our Trends® in the Hotel Industry survey sample spent 31.3 percent of its total revenue, or 42.4 percent of its total expenses, on labor costs. This includes the salaries, wages, ...
Hospitality Ventures Management Group (HVMG) Adds 16 Hotels to Portfolio in 2021
Hospitality Ventures Management Group | January 31, 2022
ATLANTA, GA — January 31, 2022 — Hospitality Ventures Management Group (HVMG), an Atlanta-based, private hotel investment, ownership and management company, today announced that it added 16 hotels to its nationwide portfolio, bringing it to a total of 56 hotels with approximately 9,000 total rooms under management. “Thanks to the hard work of our team, in terms of number of transactions, 2021 was the best year in our company history,” said Robert S. Cole, president and chief executive officer, HVMG. “While headwinds do remain for our industry, particularly for hotels heavily reliant on corporate and group business, o...
Peachtree Hotel Group Completes Record-Breaking Year With $2.0 Billion of Real Estate Investments
Peachtree Hotel Group | January 31, 2022
ATLANTA, GA – January 31, 2021 – Peachtree Hotel Group (“Peachtree”), a real estate private equity investment manager, announced that its total investment activity for 2021, inclusive of acquisitions, developments, lending and hotel investments, amounted to a record of $2.0 billion in total capitalization through 140 transactions. "We are extremely pleased to have completed an extraordinary year of investment activity," said Greg Friedman, Peachtree's CEO. "Our strategy of investing up and down the capital stack and opportunistically pivoting as markets shift allows us to capitalize on investments during any business cyc...
IHG Hotels & Resorts Expects to Welcome Over 50 Hotels to Its Luxury & Lifestyle Portfolio in 2022
IHG Hotels & Resorts | January 31, 2022
IHG Hotels & Resorts has a rich and long-standing heritage in the world of luxury hospitality, which at more than 400 hotels and 100,000 rooms is one of the largest in the industry*. Its Luxury & Lifestyle portfolio is projected to debut over 50 hotels in 24 countries this year in incredible, inspiring destinations from Rome to Riyadh and Melbourne to Mallorca. The IHG Luxury & Lifestyle portfolio is a collection of storied brands, including Six Senses Hotels Resorts Spas, Regent Hotels & Resorts, InterContinental Hotels & Resorts, Kimpton Hotels & Restaurants, Hotel Indigo and the recently launched Vignette Collecti...
Curator Hotel & Resort Collection Welcomes Six New Members
Curator Hotel & Resort Collection | January 31, 2022
BETHESDA, MD – January 31, 2022 – Curator Hotel & Resort Collection ("Curator") is kicking off the New Year by welcoming six new members to its growing portfolio of independent hotels and resorts. Spanning California, Vermont, Colorado, and Hawaii, these destinations offer unique experiences with nature as a backdrop, allowing guests to align mind, body, and spirit. "We are thrilled to jumpstart the New Year by welcoming these members to our growing portfolio of more than 85 hotels and resorts," said Jennifer Barnwell, President of Curator Hotel & Resort Collection. "The addition of these hotels, along with our first...
Canada’s Hotel Construction Pipeline Ends 2021 With 262 Projects and 35,325 Rooms
Lodging Econometrics | January 31, 2022
PORTSMOUTH, NH – January 31, 2022 – According to the year-end Lodging Econometrics (LE) Construction Pipeline Trend Report for Canada, analysts at LE state that Canada’s hotel construction pipeline ended 2021’s fourth quarter at 262 projects/35,325 rooms. The pipeline is down a mere 3% by projects and up 2% by rooms, year-over-year (YOY). At the close of 2021, projects under construction stand at 62 projects/8,100 rooms. Projects scheduled to start construction in the next 12 months stand at 85 projects/10,536 rooms and projects in the early planning stage are at an all-time high at Q4 with 115 projects/16,689 rooms, a 15% increa...
