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 Launches Registry Collection Hotels in the Country of Georgia
Registry Collection Hotels | September 2, 2021
LONDON – September 2, 2021 – Wyndham Hotels & Resorts, the world's largest hotel franchising company by number of properties with approximately 9,000 hotels across nearly 95 countries, today announced the debut of its newest brand, Registry Collection Hotels, in Georgia with a flagship 100-room newly-built property in the heart of the capital city of Tbilisi. Slated to open in early 2023, the ART Tbilisi, a Registry Collection Hotel, will be located in the picturesque district of Abanotubani, one of the most sought-after locations in the old town. Wyndham recently introduced its 21st brand, Registry Collection Hotels, with the ope...
Hyatt Regency Conroe and Convention Center to Break Ground in Texas
Hyatt Regency | September 2, 2021
CONROE, Texas – September 2, 2021 – The City of Conroe is proud to announce the planned early September groundbreaking of Hyatt Regency Conroe and Convention Center. Working with development manager Garfield Public/Private, the City announced Grand Central Park master-planned community will be home to the 250-room upper-upscale Hyatt Regency hotel and convention center. Work began on this ambitious project in 2015 at the direction of the City Council and CIDC; however, it has dramatically accelerated over the last two years. Conroe’s new Convention Center, located in a prime location on I-45 just south of Loop 336, will attract confe...
Querido Adds Immerso to Hotel Collection
Querido | September 2, 2021
The Private Hideaway in Portugal’s Ericeira, Europe’s First World-Surfing Reserve, is Set to Open in February 2022 Vancouver, Canada – September 2, 2021 – Querido, the hotel collection representing Europe’s most renowned family-owned properties including Sublime Comporta, Lily of the Valley Hotel, and Borgo Santo Pietro, announces today the addition of Immerso, Immerso is a private hideaway set to open in February 2022 in Ericeria, Portugal, designated Europe’s first world-surfing reserve. Located just 40 minutes outside the buzz and bustle of Lisbon, the seaside surfing community of Ericeira is an oasis of tranquility for...
Groups360 to Partner With PCI Security Standards Council to Help Secure Payment Data Worldwide
Groups360 | September 2, 2021
As Council’s Newest Participating Organization Groups360 to Contribute to The Development of PCI Security Standards Nashville, TN — September 2, 2021 — Groups360, the leading online marketplace for meetings and events, announced today that it has joined the PCI Security Standards Council (PCI SSC) as a new Participating Organization. Groups360 will work with the PCI SSC to help secure payment data worldwide through the ongoing development and adoption of the PCI Security Standards. The PCI SSC leads a global, cross-industry effort to increase payment security by providing flexible, industry-driven and effective data security standar...
U.S. Hotels Surpassed 2019 Profit Level in July
STR | September 1, 2021
HENDERSONVILLE, Tennessee — September 1, 2021 — Estimated U.S. hotel gross operating profit for July 2021 came in at 111% of the 2019 comparable, according to STR‘s latest monthly P&L data release. In addition to total GOP estimates above July 2019, EBITDA came in at 116% of the pre-pandemic comparable. On a per-available-room basis, each of the key profitability metrics, aside from labor, came in higher than any month since February 2020. GOPPAR: US$62.33 TRevPAR: US$156.58 EBITDA PAR: US$41.81 LPAR (Labor Costs): US$46.24 “It is first important to note that one, or even a few months, wi...
Texas Medical Center Launches World’s Largest Life Science Campus
Texas Medical Center | September 1, 2021
HOUSTON - September 1, 2021 - Texas Medical Center (TMC), a unique medical city that fosters collaboration between hospitals, universities and business, today announced the launch of a 37-acre life science campus designed to unite the best minds in medicine and commercialization: TMC3. Construction has begun on Phase One, which is backed by $1.8 billion in financing from leading life science investment and property development teams. The TMC3 master plan, which encompasses approximately 6 million square feet of anticipated development, was designed by Boston-based Elkus Manfredi Architects, a key player in shaping several of Massachusetts...
The Prime Group, Inc. and Aimbridge Hospitality Plan Early 2022 Opening of The LaSalle Hotel
THE LASALLE HOTEL | September 1, 2021
CHICAGO — September 1, 2021 — The Prime Group, Inc. and Aimbridge Hospitality will open The LaSalle Hotel in early February 2022, offering travelers a true luxury destination with an unparalleled location in the center of Chicago’s Loop. The LaSalle Hotel will occupy the top five floors of the historic building at 208 S. LaSalle, adjacent to the Federal Reserve Bank of Chicago, and will offer business and leisure travelers the timeless elegance of the original LaSalle Hotel, which opened in 1909 to much acclaim as “Chicago’s finest hotel.” “We are excited to bring the sophistication and luxury of the original LaSalle Ho...
Hilton Richardson Dallas Opening Under New Brand Flag With Fresh New Look
Aimbridge Hospitality | September 1, 2021
RICHARDSON, TX – September 1, 2021 – The former Hyatt Regency Richardson - Dallas has transformed into the Hilton Richardson Dallas and will reopen in September of this year. The hotel's guestrooms, meeting space, and restaurant have all undergone renovations, and the property will continue to be managed by Aimbridge Hospitality, a leading multinational hospitality company. "We are extremely excited to have this hotel become part of the Hilton family – a top tier brand with an amazing history, culture and loyalty members," said owner Dr. Barry Lall, President & CEO of Pinnacle Hotels USA. "We look forward to a long and mu...
Shepherd Hotels and Avocet Hospitality Partner to Launch the First Shepherd Hotel in Clemson, SC
SHEPHERD HOTELS | August 31, 2021
CLEMSON, SC - August 31, 2021 - Shepherd Hotels, a boutique hotel development and hospitality group aimed at increasing the employment futures of individuals with intellectual disabilities in the hospitality industry, is collaborating with Avocet Hospitality of Charleston, South Carolina to open the first Shepherd Hotel in Downtown Clemson, South Carolina. The Shepherd Hotel will offer guests an upscale experience through the hotel’s uplifting design, the Delish Sisters restaurant, “tasty food made with love,” the elegant indoor/outdoor Thomas Bar overlooking College Avenue, and the hotel’s rooftop event space. “This ...
The Horton Hotel & Rooftop Lounge – Boone, North Carolina’s Downtown World-Class Gem – Perfectly Aligned for Harmonious Transfe
| August 30, 2021
New Owners: App State Alumni, SPA Properties, Set to Carry on Vision Created by Original Owners Denise and Fulton Lovin BOONE, North Carolina – August 30, 2021 – The Horton Hotel & Rooftop Lounge: Boone, North Carolina’s only downtown luxury boutique hotel and lounge, featuring a wildly popular rooftop bar, today changed hands with a reverent and respectful nod to its original visionaries while looking to the future with new owners. The historic building on 611 W King Street was converted into a hotel in 2019 under the caring, compassionate and committed eyes of Denise and Fulton Lovin, who created and carried out a d...
Hospitality Financial Leadership: Critical Importance of Accruals and Deferrals
David Lund | August 30, 2021
By David Lund A lot gets written about certain things in the hotel industry and others not so much as a mention. I am not saying it is simply a matter of blatant favoritism or anything like that but it is not lost on me that certain items get the limelight. In this piece, I am going to shine a light on two of the hotel team’s third-line mainstays. This pair keeps us on track month after month and they need a little more respect. Part of respect comes from understanding their function and how important it is to the team’s performance. Without this pair playing well, we are doomed. Each part of our operation needs to underst...
Avison Young Hospitality Group- Hilton Sales
Avison Young | August 30, 2021
ATLANTA – August 30, 2021 – Avison Young announced today it has successfully closed the sale on seven Hilton branded hotels. The closings included three Hilton Garden Inns and four Hampton Inns. The properties were located from Texas along the southern crescent up through the middle of the east coast. The brokers involved in the closings were Brad Sinclair, Andy Broad and Michael Bernath. H. Keith Thompson said, “These closings represent a continued investment trend into well branded hospitality assets. All the closings were priced on 2019 performance levels."...
Hilton Signs With Invesco Real Estate for Hilton Heidelberg Conversion
Hilton Hotels & Resorts | August 26, 2021
HEIDELBERG, Germany and MCLEAN, Va. - August 26, 2021 - Ahead of this year’s International Hotel Investment Conference (IHIF), Hilton (NYSE: HLT) has signed a franchise agreement to open Hilton Heidelberg, a 244-room upscale hotel in Heidelberg’s city centre. The property will undergo a major refurbishment before welcoming guests in Summer 2022. The hotel is owned by Invesco Real Estate, the global real estate investment manager which acquired the property in 2017. Patrick Fitzgibbon, senior vice president, development, EMEA, Hilton said, “Hilton Heidelberg is an exciting addition to our growing portfolio in Germany and builds ...
Nikko Style Niseko HANAZONO Hotel to Open in 2024
Fujita Corporation | August 25, 2021
TOKYO - August 25, 2021 - Okura Nikko Hotel Management Co., Ltd., a subsidiary of Hotel Okura Co., Ltd., is pleased to announce that it will open the Nikko Style Niseko HANAZONO hotel in 2024. The hotel will be located in Niseko, Hokkaido, a world-famous ski resort in Japan’s northernmost main island of Hokkaido. The company has contracted with Fujita Corporation to manage the new property. The Nikko Style Niseko HANAZONO will offer 234 guest rooms, each with a standard area of about 34 square meters, including 16 suite rooms, on 8 floors above ground. All guest rooms on the top two floors will be equipped with bathrooms featuring a priv...
San Jose City Council Approves Urban Catalyst’s Extended-Stay Marriott in City’s Downtown West
Urban Catalyst | August 25, 2021
SAN JOSE, CA - August 25, 2021 - Urban Catalyst, Silicon Valley's premier Opportunity Zone Fund, announced today that the San Jose City Council gave the go-ahead Tuesday to build an extended-stay Marriott in San Jose’s Downtown West, just a short walk from Google’s planned mega-campus. The council’s blessing gives Urban Catalyst the green light to move forward with its Keystone project. The nationally branded extended-stay Marriott TownePlace Suites business hotel will be located at 491 W. San Carlos Street. In addition to its proximity to the Google development, the location is near two recently announced towers—with 1.1 million s...
Pacific Hotel Management to Open The Westin Palo Alto Following 18-Month Renovation
The Westin Palo Alto | August 24, 2021
PALO ALTO, CA - August 24, 2021 - Pacific Hotel Management will celebrate the grand re-opening of The Westin Palo Alto following the completion of a year and a half, multi-million dollar transformation. Beginning September 1st, guests will enjoy all that The Westin Palo Alto has to offer. The hotel is located in the heart of Silicon Valley with unparalleled access to museums, Stanford Shopping Center, golf courses, gardens and the renowned Stanford University. The redesigned hotel signals the momentum and evolution of Pacific Hotel Management as it continues to elevate experiences throughout their California properties, enhancing every ...
IHG Hotels & Resorts Launches New Luxury & Lifestyle Brand, Vignette Collection™
IHG Hotels & Resorts | August 24, 2021
IHG Hotels & Resorts has today announced Vignette Collection™ as its new Luxury & Lifestyle brand, with hotels in Australia and Thailand the first to join the collection. Vignette Collection becomes the sixth addition to IHG’s brand portfolio in the past four years, taking it to 17 in total across nearly 6,000 hotels in more than 100 countries. The Collection further enriches IHG’s fast-growing Luxury & Lifestyle offer for both leisure and business travellers. IHG’s Vignette Collection will give owners of world-class independent hotels the opportunity to retain their distinctive identity, while benefitt...
Hotel Okura Shanghai Sheshan to Open in 2024
Shanghai CITI-RAISE Construction Group Investment Company Limited | August 23, 2021
TOKYO - August 23, 2021 - Hotel Okura Co., Ltd. is pleased to announce it will open the Hotel Okura Shanghai Sheshan in 2024. The new hotel will be located in Sheshan, a scenic forested mountainous area bordering the city of Shanghai. Hotel Okura Co., Ltd. and the Shanghai CITI-RAISE Construction Group Investment Company Limited concluded an agreement covering operation of the new property on August 31, 2020. Sheshan is located about 30 kilometers southwest of Shanghai city center, and features a rich natural environment which includes the Sheshan National Forest Park. The new two-storied Hotel Okura Shanghai Sheshan will be built on an ex...
Avison Young Hospitality Group – Red Roof Inns
Avison Young | August 23, 2021
ATLANTA – August 23, 2021 – Avison Young announced today it has successfully closed the sale of 32 Red Roof Inns over the last 19 months. The hotels were located in most of all US regions and ranged in room counts, size and demand generators. The broker leading in these transactions was Wendy Blissett, Principal with Avison Young. Keith Thompson said, “These closings represent a continued investment trend into limited-service hotel product which has outperformed most all other hospitality segments.”...
Coralville Hotel & Conference Center Reflagged Under the Hyatt Regency Brand
Marcus Hotels & Resorts | August 23, 2021
MILWAUKEE – August 23, 2021 – Marcus® Hotels & Resorts, a nationally recognized owner and management company and division of The Marcus Corporation (NYSE: MCS), announced that the Coralville Hotel & Conference Center has been reflagged as the Hyatt Regency Coralville Hotel & Conference Center, making it the first Hyatt Regency in the state of Iowa. The company assumed management of the newly flagged property on August 18, 2021. To offer guests the elevated experience and amenities for which the Hyatt Regency brand is known, the hotel, which is owned by the City of Coralville, will undergo a phased renovation to include re...
Avison Young Hospitality Group Closes Marriott Sales
Avison Young | August 18, 2021
ATLANTA – August 18, 2021 – Avison Young announced today it has successfully closed the sale on four Marriott Courtyards and five Springhill Suites. The properties were located from the pacific northwest, Midwest, and eastern seaboard states. The brokers involved in the closings were Brad Sinclair, Andy Broad and Michael Bernath. Keith Thompson said, "These closings represent a continued investment trend into hospitality and the hotels ranged from cash flowing assets to closed hotels all with large required pips. Most importantly they were all priced on 2019 performance levels."...
IHG Partners With Ha Long Bay Hotel Joint Stock Company for Holiday Inn Resort Halong Bay
IHG Hotels & Resorts | August 18, 2021
Vietnam – August, 18 2021 – IHG Hotels & Resorts has partnered with Ha Long Bay Hotel Joint Stock Company to create a spectacular new resort in Halong City. Opening in 2023, Holiday Inn Resort Halong Bay will be the second Holiday Inn Resort to open in Vietnam, after Holiday Inn Resort Ho Tram Beach, and will quickly establish itself as the premier family destination in Halong Bay. The 208-key property will provide an iconic landmark on the city’s skyline thanks to its towering architecture and will be situated at the heart of a stunning mixed-used development project also featuring resort apartments and a retail podium. ...
Paramount Lodging Advisors Successfully Transacts Godfrey Tampa
Paramount Lodging Advisors | August 17, 2021
Paramount Lodging Advisors (PLA) has successfully executed the sale of the Godfrey Hotel & Cabanas Tampa. The PLA team representing the seller was led by Bennett Webster, Brent Clemens, and Brian Guernier. The sale allowed the lender to unwind their existing interest on the $45MM non-performing loan. “Despite the ongoing national and regional challenges in the current market, our team remains very bullish on the longer-term industry rebound. We believe Florida will remain at the forefront of the recovery,” stated Bennett Webster The sales add to Paramount Lodging Advisors’ continued and unprecedented success over the cou...
Why It’s Time for Hotels to Prioritize Long-Term Controlled Spending
Ryan Hamilton | August 17, 2021
By Ryan Hamilton After the year that was 2020, 2021 seems to be a period defined by cautious optimism. A world on the precipice of a long-awaited reopening, with a predicted surge of social and economic activity ready to shift our respective communities from the ‘new’ normal to the normal we once knew. The desire for this return is palpable and warranted, but we must acknowledge that much still remains uncertain in that same breath. Our attention is fixed on the future, but what does that future hold from an economic perspective? More importantly, what is the most fiscal path forward for businesses – especially those in sectors that ...
