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
Record High Counts for Franchise Companies in the Early Planning Stage at the End of Q4’21
Lodging Econometrics | January 28, 2022
PORTSMOUTH, NH – January 28, 2022 – As seen in the Lodging Econometrics (LE) Q4'21 United States Construction Pipeline Trend Report, the franchise companies with the largest U.S. construction pipelines at year-end 2021 are Marriott International with 1,345 projects/170,586 rooms, followed by Hilton Worldwide with 1,239 projects/141,053 rooms, and InterContinental Hotels Group (IHG) with 761 projects/76,987 rooms. These three companies combined account for 69% of the projects and 67% of the rooms in the total U.S. construction pipeline. At the end of Q4'21, over 56% of Hilton’s projects in the pipeline are in the early planning proje...
Accor Signs With Edge Holding to Bring Sofitel Cairo New Capital Hotel & Residences to Egypt
Accor | January 27, 2022
Accor, a world-leading augmented hospitality group with over 420 hotels across India, Middle East, Africa and Turkey expands its luxury footprint in Egypt with the signing of Sofitel Cairo New Capital Hotel & Residences, a new flagship property for the group that will strengthen the Sofitel brand in Egypt. The new property will be located in the heart of the New Administrative Capital (NAC) of Cairo, a city designed on its own and featuring hospitality, residential, entertainment, commercial, retail components and government entities, including the presidential palace, parliament, cabinet, supreme court, all ministries of Egypt and var...
Dallas Leads as the Top Market by Project Count in the U.S. Hotel Construction Pipeline at Year-End 2021
Lodging Econometrics | January 27, 2022
PORTSMOUTH, NH – January 27, 2022 – In the recent U.S. Construction Pipeline Trend Report released by Lodging Econometrics (LE), at the close of the fourth quarter of 2021, Dallas leads the U.S. markets in the number of pipeline projects with 152 projects/18,180 rooms. Following Dallas, the U.S. markets with the largest total hotel construction pipelines by project count are Atlanta, at a cyclical high, with 133 projects/17,593 rooms; New York City with 121 projects/19,303 rooms; Los Angeles with 120 projects/19,815 rooms; and Houston, with 91 projects/9,912 rooms. Despite the impact COVID-19 has had on hotel development, three mark...
Wyndham Hotels & Resorts’ “Women Own the Room” Program Welcomes First Franchisee Member
Wyndham Hotels & Resorts | January 26, 2022
PARSIPPANY, NJ – January 26, 2022 – Wyndham Hotels & Resorts - the world's largest hotel franchising company with approximately 9,000 hotels across nearly 95 countries - announced today its first signed agreement as part of its innovative "Women Own the Room" program. Trusha Patel, Founder and CEO, Platinum Holdings, becomes the pioneering program's first member with two new construction La Quinta and Hawthorn Suites dual-branded hotels. The first-ever program by a major hotel company specifically targeting women's advancement in hotel ownership, Wyndham's recently launched "Women Own the Room" is designed to advance and empower wome...
Hilton Signs With Wotf Turizm Ticaret Anonim Sirketi to Open Hilton N’Djamena Toumaï Palace, Chad
Hilton Hotels & Resorts | January 26, 2022
N’Djamena, Chad - January 26, 2022 - Hilton (NYSE: HLT) today announced the signing of an agreement with Wotf Turizm Ticaret Anonim Sirketi to open Hilton N’Djamena Toumaï Palace, Chad. This latest signing for the company in a gateway African city is in the second district of N’Djamena - part of the International Business Centre and 600m from N’Djamena International Airport (NDJ). Andrew McLachlan, managing director, development, Sub-Saharan Africa at Hilton, said, “It’s a proud moment for us to be returning to Chad with a flagship Hilton property in a prime location in the country’s commercial hub. This area of...
How Refinancing SBA Loans Can Open New Doors for Hotel Owners
Alexander Cohen | January 26, 2022
By Alexander Cohen Just as travel was again on the upswing, a new variant of COVID-19, along with the global rise of cases has created yet another revenue setback for hotel owners and a slowdown in business meetings, conventions, and vacations. Thankfully, there is a new financing opportunity that can help hotel owners save money, access cash for improvements, and stay afloat during these uncertain times for the industry. A recent rule change from the Small Business Administration (SBA) allows hotel borrowers to refinance their floating-rate SBA 7a loan to a fixed-rate SBA 504 loan. This opportunity is phenomenal for nearly an...
Hospitality Lodging Systems Grows Significantly in 2021
| January 26, 2022
Hospitality Lodging Systems (HLS) grew during 2021 by 16% in hotels and 21% in rooms, ending the year with 73 hotels and 5,967 rooms. Of these properties, 42 with 4,201 rooms operate under the Budgetel Inn & Suites brand; 21 with 1,171 rooms operate under the AmeriVu Inn & Suites brand; and 10 with 595 rooms operate as Haven Hotel. This compares to the end of 2020 when HLS had 63 hotels with 4,929 rooms. “We are attracting owners who want to keep more of the money they earn, which is especially appealing in today’s post-pandemic marketplace when improving ROI is a top priority,” said Doug Collins, Chairma...
Marjan to Develop a Multibillion-Dollar Integrated Resort in Ras Al Khaimah With Wynn Resorts
Wynn Resorts | January 25, 2022
RAS AL KHAIMAH, UAE - January 25, 2022 - Marjan, RAK Hospitality Holding and Wynn Resorts, Limited, the US-listed international developer and operator of luxury resorts, have announced a multibillion-dollar integrated resort development on the man-made Al Marjan Island in Ras Al Khaimah, United Arab Emirates. The spectacular Al Marjan Island, already a leading tourism destination, is only 15 minutes from the Ras Al Khaimah International Airport and 45 minutes from the Dubai International Airport. Comprising four islands, Al Marjan Island delights visitors with over 7.8 kilometers of sparkling beaches and 23 kilometers of waterfr...
The Los Angeles Market Leads the Hotel Construction Pipeline by Rooms at the end of Q4‘21
Lodging Econometrics | January 25, 2022
PORTSMOUTH, NH – January 25, 2022 – As much of the industry, including Lodging Econometrics (LE), attends America’s Lodging Investment Summit (ALIS) in Los Angeles, LE releases its recent Hotel Construction Pipeline Trend Report. This informative report includes a summarization of the current hotel construction pipeline activity in the Los Angeles market as it does every other Top 50 Market. With a focus on the Los Angeles market, analysts at LE report that, at the end of 2021’s fourth quarter, Los Angeles has a total of 120 projects/19,815 rooms in the construction pipeline. At Q4‘21, Los Angeles has the highest room count in...
JONO Developments and Hotel Equities to Debut Moxy Hotel in Halifax, Nova Scotia
Moxy Hotels | January 24, 2022
HALIFAX, NS – January 24, 2022 – Today, JONO Developments Ltd. (“JONO”) and Hotel Equities (“HE”), announced they will be opening a Moxy hotel in Halifax, Nova Scotia. The new hotel is anticipated to serve as the first new-build Moxy hotel in Canada, part of Marriott Bonvoy’s portfolio of 30 extraordinary brands. Owner and developer, JONO, expects the 160-room hotel to open in Q4 2022. "We are thrilled to cater to the booming next-gen and young at heart population, by providing a playful hotel experience that encapsulates the Moxy brand,” said, Joe Metlege, Co-Owner of JONO. “This will be the only lifestyle hotel th...
Hospitality Financial Leadership: Why Managing the Budget in Your Hotel Is Like Playing Baseball
David Lund | January 24, 2022
By David Lund That’s a big statement because if you are involved in the budget in your hotel and you have played baseball then you are probably saying to yourself that I am off my rocker. The budget is a mean and unruly nasty guest that comes every year and sometimes does not leave completed for weeks, even months. And, it is certainly not fun and engaging like a good game of baseball can be. Alas, like all things, there is more than one way to look at the budget, and I did say “managing” in the title. So, let’s dig a little deeper and see what I am talking about. Much of life is how we choose to do battle and manag...
IHG Signs Eleven New Properties Across Iberia
IHG Hotels & Resorts | January 20, 2022
IHG Hotels & Resorts, one of the world’s leading hotel companies, is proud to announce the signing of 11 new properties across the Iberian Peninsula. This spectacular array of new developments will bring many of IHG Hotels & Resorts’ market-leading and much-loved brands, including Holiday Inn Express, Hotel Indigo and Staybridge Suites, to new city and resort destinations across Spain and Portugal. The majority of the new signings are expected to open in 2022, with others anticipated in the coming years; 2023, 2024 and 2025. IHG continues to expand its presence in Europe, with this impressive selection of hotels paving the way ...
David Grutman and Pharrell Williams Reveal Their First Resort, Somewhere Else, in The Bahamas
Groot Hospitality | January 20, 2022
PARADISE ISLAND, THE BAHAMAS – January 20, 2022 – Something new, and something extraordinary, will soon arrive in The Bahamas. In 2024, David Grutman of Groot Hospitality and Pharrell Williams will partner with Atlantis Paradise Island to open a brand-new resort: Somewhere Else. The property (which is adjacent to Atlantis, and which will take over the current site of The Beach) is set to offer a unique and immersive experience, blending Grutman’s ability to create highly memorable hospitality platforms with Williams’s dynamic, genre-spanning artistry. The duo has already garnered collaborative success as partners on Swan, the Miami...
Eat.Drink.Sleep Hospitality to Develop Hotel in Placerville, California
Eat.Drink.Sleep. | January 20, 2022
SAN DIEGO, CA -- January 20, 2022 -- Eat.Drink.Sleep (EDS), a privately-held, San Diego-based company offering integrated hospitality management services, including developing and managing hotels and restaurants, has received unanimous approval from the Placerville Planning Commission for a 106-room hotel located at 3001 Jacquier Road to be named Mackinaw Hotel. The property was designed by Eat.Drink.Sleep in partnership with Coston Architects and EDS’ design division, Second Sight Design. The hotel is expected to open in late 2023. Additionally, Second Sight Design announced it has been retained by Visit Bakersfield for social me...
Hyatt Unveils Plans to Introduce the Destination by Hyatt Brand to Asia Pacific
Destination by Hyatt | January 19, 2022
CHICAGO, IL – January 19, 2022 – Hyatt announced today that the Destination by Hyatt brand will makes its debut in Asia Pacific with two properties in Mainland China. The brand is expected to launch in the region with a hotel set amidst the scenic mountains of Qingchengshan in Sichuan Province, and will then be followed by a beachfront hotel in Dalian, Liaoning Province. The Destination by Hyatt brand features a diverse collection of independent hotels that embody the true spirit of their location. Each property is purposefully crafted to be a place of discovery, connecting guests to people and place through immersive experiences, au...
Avison Young Hospitality Group – Hotel Closings
Avison Young | January 19, 2022
ATLANTA, GA – January 19, 2022 – Avison Young announced today that over the past four weeks they have closed sale transactions on the following hotels. Kimpton Hotel Monaco Chicago IL, a 15 story IHG hotel in downtown Nashville TN, The Fall River Resort, Estes Park CO, Hampton Inn Newburgh NY, Hampton Inn Central Valley NY, Outlanders River Resort, VA, Home 2 Suites, Middletown NY, Two Marriott assets Charlotte NC, Hilton Garden Inn Cranberry PA, Hampton Natchez MS and seven other branded hotels The brokers involved in the closings were Chris Stark, Andy Broad, Brad Sinclair, Michael Bernath, Chris Kilcullen, Wendy Blissett, Mike Georg...
PM Hotel Group Announces Merger With Modus Hotels
PM HOTEL GROUP | January 18, 2022
Chevy Chase, MD – January 18, 2021 – PM Hotel Group, one of the US’ leading hotel management companies, today announces its merger with Modus Hotels. The company’s expanded lifestyle portfolio will combine Modus’ proven operational excellence and diverse lifestyle properties with PM Hotel Group’s proven record of success. Together the union will deliver extraordinary hospitality experiences for guests while driving performance and maximizing profitability for owners. “Our approach and values have been aligned with Modus’ for years. The opportunity now to join together to harness our combined talent, teamwork and expert...
Charlestowne Hotels Experiences Exponential Growth in 2021, Increases Portfolio by 20% and Continues to Achieve Above-Average RevPAR Growth
Charlestowne Hotels | January 18, 2022
CHARLESTON, SC – January 18, 2022 – Charlestowne Hotels, a leading hospitality management company known for its customized, owner-centric approach to management, closes out 2021 with significant additions to its growing portfolio and enhancements to its corporate infrastructure. The management company has continuously achieved above-average RevPAR growth across its properties and 2021 proved to be no exception. Through November 2021, Charlestowne saw a 90% RevPAR increase year over year and an 11% increase compared to pre-pandemic levels in 2019. “After the pandemic sparked an industry-wide evolution, our team used 2021 as a t...
Hotel Construction Down Around the World, Except in Asia Pacific Region
STR | January 17, 2022
HENDERSONVILLE, Tennessee — January 17, 2022 — Asia Pacific is the only world region showing increased hotel construction activity in comparison with the end of Q4 last year, according to December 2021 data from STR. December 2021 (% changes in comparison with December 2020) Europe In Construction: 221,789 rooms (-7.6%) Final Planning: 163,805 rooms (-4.9%) Planning: 159,232 rooms (+4.7%) Total Under Contract: 544,826 rooms (-3.5%) Germany (45,121) and the U.K. (31,464) continue to lead Europe in total rooms in construction. Asia Pacific In Construction: 473,983 rooms (+5.0%) Final Planning: 170,210 ro...
Sonder Holdings, Inc. Expands Operations with More Than 25 Newly Opened Buildings in Over a Dozen U.S. Cities
Sonder | January 14, 2022
SAN FRANCISCO, CA - January 14, 2022 - Sonder Holdings Inc. (“Sonder” or the “Company”), a leading next-generation hospitality company that is redefining the guest experience through technology and design, announced today it has added over 25 new buildings across the U.S. to its portfolio in the second half of 2021. The Company’s growth covers over a dozen cities, including top tourist destinations such as New York City, Nashville and Seattle. Sonder’s new locations include both hotel and apartment style spaces – all designed to provide flexible accommodations to serve a wide range of traveler needs. Sonder’s East Coast exp...
Summit Hotel Properties Completes Acquisition of NewcrestImage Portfolio
Summit Hotel Properties | January 14, 2022
Austin, TX - January 14, 2022 - Summit Hotel Properties, Inc. (NYSE: INN) (the “Company” or “Summit”) today announced that it has completed an initial closing of the previously announced portfolio acquisition through its existing joint venture with GIC from affiliates of NewcrestImage. The initial closing included 26 of the 27 hotels totaling 3,533 guestrooms, two parking structures, and various financial incentives. The remaining hotel to be acquired is the currently under construction 176-guestroom Canopy by Hilton New Orleans which is nearing completion, and the joint venture expects to close on the acquisition of the hotel during ...
NewcrestImage Becomes Minority Shareholder and Selects Aimbridge Hospitality for Management of 27-Hotel Portfolio
Aimbridge Hospitality | January 14, 2022
DALLAS, TX – January 14, 2022 – NewcrestImage, an award winning hotel development company based in Dallas, announces it will transfer its existing hotel management agreement rights to Aimbridge Hospitality, a leading, global hospitality company, and the two companies have identified new growth opportunities together. Specifically, NewcrestImage and Aimbridge will build on their respective strengths, with NewcrestImage developing and acquiring new hotels and Aimbridge further building on its value added services as one of the largest global hotel operators. NewcrestImage has acquired minority ownership in Aimbridge Hospitality. “We a...
Keyestone Group and Hyatt to Collaborate on China’s First Hello Kitty Hotel in Hainan
JdV by Hyatt | January 13, 2022
CHICAGO – January 13, 2022 – Keyestone Group, a Hong Kong-based conglomerate focused on the development and management of high-quality premier projects in the Greater China region, and Hyatt Hotels Corporation (NYSE:H), a leading global hospitality company, today announced plans for China’s first Hello Kitty Hotel in Sanya, Hainan. The hotel will be developed by the Keyestone Group and added to the JdV by Hyatt brand. It is expected to open by 2025 as part of the Sanya Hello Kitty Resort – the first Hello Kitty theme park in Hainan Province. A vibrant addition to the JdV by Hyatt collection of independent properties, the hotel...
Marriott Signs Agreement With TEMES S.A. to Debut W Costa Navarino in Greece
W Hotels Worldwide | January 13, 2022
Marriott International, Inc. today announced it has signed an agreement with TEMES S.A., a leading developer and operator in high end tourism and real estate, to debut the W Hotels Worldwide brand in Greece with the opening of W Costa Navarino. Expected to open in summer 2022, W Costa Navarino is anticipated to mark the latest addition to the ever-expanding W Escapes portfolio in Europe following locations in Spain, Switzerland and Portugal. The new W Escape will be located in Navarino Waterfront, the newest integrated resort of Costa Navarino - the prime sustainable destination in the Mediterranean. The 13-hectare beachfront destination i...
