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
Juniper Capital Partners Opens Rebranded Hotel Nyack as Part of Hyatt’s Joie de Vivre Brand
Juniper Capital Real Estate | February 18, 2021
NYACK, N.Y. – February 18, 2021 – Hyatt Hotels Corporation (NYSE: H) and Juniper Capital Partners today announce the opening of Hotel Nyack, previously The Time Nyack Hotel in New York’s Hudson Valley. Recently acquired by Juniper Capital Partners, Hotel Nyack now joins Hyatt’s Joie de Vivre lifestyle brand today inspiring the spirit of playful travel through neighborhood connections. Located in Hudson Valley’s Rockland County, Hotel Nyack will provide picturesque views of the Hudson River and newly reconstructed Governor Mario M. Cuomo Bridge, and is primed to welcome guests and locals with the Joie de Vivre brand’s joy-driv...
IHG and Proinvest Build Brisbane CBD Presence With Two Premium Hotel Conversions
IHG Hotels & Resorts | February 18, 2021
The huge momentum behind the popular Hotel Indigo and voco brands continues, as IHG Hotels & Resorts and Pro-invest Group build on their partnership with the signing of two high-profile conversion hotels in the Brisbane CBD. voco Brisbane City Centre and Hotel Indigo Brisbane City Centre will become the latest additions to the River City’s hotel scene, as Mercure Brisbane and ibis Brisbane rebadge under IHG’s world-class upscale brands following a repositioning and extensive refurbishment. voco Brisbane City Centre, which will overlook the Brisbane River and some of the city’s best cultural institutions, promises to bring ...
NextGuest Merges With Cendyn
Cendyn | February 17, 2021
Boca Raton, FL – February 17, 2021 – Today Cendyn, the leading provider of cloud software and Digital Marketing services for the hospitality industry, and NextGuest, a New York and Munich-based CRM and Digital Marketing leader, combine under the Cendyn brand to become the largest scalable CRM and Digital Marketing provider in the hospitality industry. The merger expands Cendyn’s global reach, as it helps hoteliers drive demand and revenue performance by optimizing every touchpoint of the guest journey through data intelligence and automation. With unparalleled industry experience and expertise, combining both companies enables them t...
Hotel Equities and Virtua Partners Form 33 Degrees™
33 Degrees | February 17, 2021
Alpharetta, Ga — Feb 17, 2021 — Today, Hotel Equities and affiliated global private equity group Virtua Partners officially announced the launch of 33 Degrees, a master brand encompassing a portfolio of companies, including: Hotel Equities - Best-in-class hotel operating and development firm with a portfolio of industry-leading brands, including Marriott, Hilton, IHG, Hard Rock & Hyatt. The portfolio consists of luxury, resort, full service, select service, boutique, independent, and lifestyle hotels. 33 Degrees Financing - Formerly known as Virtua Credit, specializing in capital arrangement for institutional real esta...
Amber Property Group Begins Construction on Peppers Melbourne Richmond
Peppers | February 17, 2021
On track to open in mid-2022, construction has begun on the highly anticipated Peppers Melbourne Richmond by prominent Melbourne developer, owner and operator, Amber Property Group. Located on historic Bridge Road, the 80-room hotel will be nestled in the vibrant inner-city suburb of Richmond. It will elevate the accommodation scene of Richmond, offering exceptional facilities, including a state-of-the-art gym and restaurant. The hotel will also be home to an incredible rooftop bar which will overlook Melbourne’s stunning skyline, the Melbourne Cricket Ground and Botanical Gardens. The rooftop bar is destined to be the new go-to destinatio...
Lyle Washington DC, the Second U.S. Property From International Hospitality Company Lore Group, to Open in April 2021
LORE Group | February 17, 2021
Lyle Washington DC, a brand-new independent hotel from Lore Group, is set to open in the capital’s vibrant Dupont Circle neighborhood in April 2021. Lyle, the second U.S. property from the international hospitality company behind renowned hotels Sea Containers London, Pulitzer Amsterdam and Riggs Washington, D.C, is located on New Hampshire Avenue in an early 1940s Art Deco building constructed originally to house apartments. In redesigning the interiors of property, Lore Group Creative Director Jacu Strauss wished to create a world of calm, a place where you can feel in complete comfort in understated style. The luxury is in the deta...
Podcast: Why Every Hotel Leader Needs to be a Financial Leader
David Lund | February 15, 2021
By David Lund Listen to the podcast with Sarah Dandashy (Ask a Concierge). The financial side of hospitality isn’t as sexy (to some) as other parts, but it is, of course, what determines success and that’s super sexy! In the hotel world, knowing the numbers translates to individual and organizational success. KEY POINTS Financial leadership should pertain to every hotel department. Knowing the basics of your numbers is the first step. A multi-functional leadership model is more successful than silos. Click below to listen to David’s podcast. ...
Angels Landing Partners Advance Plans for $2 Billion Twin-Tower Luxury Hotel Project in Downtown L.A.
MacFarlane Partners | February 10, 2021
LOS ANGELES - Feb. 10, 2021 - Two acclaimed African American developers – Victor MacFarlane of MacFarlane Partners and R. Donahue Peebles of The Peebles Corporation – are doubling-down on their multi-million-dollar effort to bring thousands of new jobs and economic benefits to the nation's second-largest city as development partners of Angels Landing, their $2 billion twin-tower luxury hotel project in downtown L.A.'s Bunker Hill neighborhood. MacFarlane and Peebles are majority-owner principals of Angels Landing Partners, LLC, the development partnership responsible for conceiving, designing, building, and operating Angels Land...
Continental Assets Management Signs With Marriott to Bring AC Hotel Brand to Honolulu
AC Hotels by Marriott® | February 10, 2021
Honolulu, HI – February 10, 2021 – Following its acquisition in January 2021 of the office building located at 1111 Bishop Street, also known as the “Remington College Building”, Continental Assets Management today announced it has signed an agreement with Marriott International to debut the company’s design-driven AC Hotels brand in Honolulu. The property is slated to debut in the heart of downtown Honolulu in the Central Business District and is expected to feature 104 rooms. Currently an existing office building, the conversion to the AC Hotel Honolulu is expected to begin late next year, with the anticipated opening in 2024. ...
Keystone Property Group and Concord Hospitality Enterprises Break Ground on Hotel West + Main
Keystone Property Group | February 10, 2021
CONSHOHOCKEN, Pa.-- February 10, 2021 --Keystone Property Group today announced it has broken ground on the new Hotel West + Main, a significant milestone in its 520,000-square-foot SORA West development. This $325 million mixed-use project includes a new global headquarters for Fortune 10 pharmaceutical distribution company AmerisourceBergen, the reuse of a 146-year-old historic firehouse, and a 12-story public and private parking garage. A groundbreaking event is scheduled for March 4, 2021 at 10:00 A.M. EST and will also be accessible via livestream here. Keystone has partnered with Concord Hospitality Enterprises to develop and ope...
Katara Hospitality Partners With Accor to Launch Maison Delano Brand
Katara Hospitality | February 9, 2021
NEW YORK, Feb. 9, 2021 -- Katara Hospitality, a leading global hotel owner, developer and operator based in Qatar, today announced a new partnership with Accor, a world-leading hospitality group for an exciting new evolution of the iconic Delano brand, Maison Delano planned to open in 2022. Andrew Humphries, Acting Chief Executive Officer of Katara Hospitality said: "We are delighted to have come to this strategic partnership with Accor by adding Maison Delano to our collection of hotels. We believe this collaboration will add operational strength and build on the foundations of our successful portfolio; Katara Hospitality's vision...
Marriott International Expects to More Than Double All-Inclusive Portfolio in an Agreement With Sunwing Travel Group
Marriott International | February 9, 2021
FEBRUARY 9, 2021 - Marriott International, Inc. (NASDAQ: MAR) today announced a significant planned expansion of its all-inclusive portfolio through a long-term agreement with Sunwing Travel Group’s hotel division, Blue Diamond Resorts, which has an extensive portfolio of resort properties throughout the Caribbean, Central America and Mexico. The agreement is expected to propel Marriott into the list of top 10 global all-inclusive players by adding 19 franchised resorts totaling nearly 7,000 rooms across six destinations and more than doubling the company’s presence in the all-inclusive segment to 33 properties by 2025. The majority of th...
Travel & Tourism Sector Witnessed 29.6% Decline in Deal Activity During January 2021
GlobalData | February 9, 2021
A total of 57 deals were announced in the global travel and tourism sector during January 2021, which is a decrease of 29.6% over 81 deals announced in December 2020, according to GlobalData, a leading data and analytics company. Aurojyoti Bose, Lead Analyst at GlobalData, comments: “The travel and tourism sector has been one of the hardest hit by the COVID-19 pandemic with ongoing lockdowns in some of the key markets and travel restrictions bringing business travels mostly to a halt. Resultantly, deal-making appetite also remains muted.” The number of equity offerings, venture financing, mergers and acquisition (M&A), and priva...
Canada’s Hotel Construction Pipeline Ends 2020 With 270 Projects and 34,768 Rooms
Lodging Econometrics | February 9, 2021
PORTSMOUTH, NH – February 9, 2021 – 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 the fourth quarter of 2020 at 270 projects/34,678 rooms, a mere 35 fewer projects than the region’s peak of 305 projects achieved in Q4’19. Projects under construction stand at 83 projects/9,836 rooms. Projects scheduled to start construction in the next 12 months recorded 87 projects/10,142 rooms, while projects in the early planning stage stand at 100 projects/14,700 rooms, up 12% by projects and 4% by rooms year-over-year (YOY...
Pebblebrook Hotel Trust Executes Contract to Sell Sir Francis Drake
Pebblebrook Hotel Trust | February 3, 2021
BETHESDA, Md. -- February 3, 2021 -- Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) today announced that it had executed a contract to sell the 416-room Sir Francis Drake in San Francisco, CA to a third party, which the Company expects will generate $157.6 million of proceeds after customary closing costs. Based on the hotel's net operating income for the year ended December 31, 2019, such proceeds after customary closing costs reflect a 7.2% net operating income capitalization rate. The net operating income capitalization rate is after an assumed annual capital reserve of 4.0% of total hotel revenues. The sale of Sir Francis...
Hilton and Signo Hospitality to Develop 10 New Hotels in Germany
Hilton | February 3, 2021
Agreement extends to Austria and Switzerland and focuses on Hilton Garden Inn, Hampton by Hilton and Motto by Hilton; Hilton Garden Inn Herne and Hampton by Hilton Bottrop confirmed as first two properties GERMANY and MCLEAN, Va. - February 3, 2021 - Hilton (NYSE: HLT) today announced an agreement with Signo Hospitality (Signo) to develop 10 new hotels in Germany over the next five years. The first two properties to open under the agreement will be Hilton Garden Inn Herne and Hampton by Hilton Bottrop. Both hotels will be the first from Hilton in their respective cities, which sit in Germany’s industrial centre in the Ruhr valley. Patr...
IHG Signs With Immohold Hospitality for InterContinental Rabat in Morocco
IHG | February 3, 2021
IHG® Hotels & Resorts, one of the world’s leading hotel companies, has signed an an agreement with Immohold Hospitality, to introduce the InterContinental Hotels and Resorts brand in Rabat. The signing is aligned with IHG’s strategy to build on its luxury portfolio and expand into key gateway markets across the MEA region. Expected to open in Q1 2022, the 5-star luxury hotel will be situated in the heart of Morocco’s capital city. Ideal for business and leisure travellers, the hotel will be perched within Rabat’s elite diplomatic district in proximity to a number of embassies and government institutions. InterContinental Rabat...
Pacifica Hotels Transitions Four Properties Along the California Coast to Tapestry Collection by Hilton
Pacifica Hotels | February 1, 2021
ALISO VIEJO, Calif. – February 1, 2021 – Pacifica Hotels, the largest owner and operator of independent, design-inspired hotels on the Pacific Coast is expanding further into the global brand category announcing the transition of four key California properties that joined Tapestry Collection by Hilton in January 2021. The properties that joined Tapestry Collection include The Belamar Hotel in Manhattan Beach, The Kinney in San Luis Obispo, Jamaica Bay Inn in Marina del Rey and The Redondo Beach Hotel in Redondo Beach. The coastal properties will retain the same look, feel and exceptional service that travelers have come to kn...
Hyatt Expands Luxury Alila Brand in the U.S. With Alila Napa Valley
Alila | January 28, 2021
CHICAGO – January 28, 2021 – Hyatt Hotels Corporation (NYSE: H) announced today an expansion of the luxury lifestyle Alila brand in the United States with the addition of Alila Napa Valley in St. Helena, Calif. Slated to join Hyatt’s portfolio on March 1, 2021, and at this time, scheduled to resume operations on March 15, 2021, the exclusive 68-room adults-only retreat will feature personalized hospitality that celebrates the authenticity of one of the world’s most famous wine regions. Alila Napa Valley will add to Hyatt’s growing Alila brand portfolio, joining Ventana Big Sur, an Alila Resort, and Alila Marea Beach Resort Encinita...
Janko Hospitality Set for March Opening of Holiday Inn Express & Suites Lockport in Illinois
Holiday Inn Express & Suites Lockport | January 28, 2021
LOCKPORT, Ill. – January 28 2020 – The “City of Historic Pride” will now be adding an exciting moment to its timeline: the addition of the Holiday Inn Express & Suites Lockport, its first-ever hotel opening this March. Located off of I-355 at 16223 W. 159th St.,the new hotel is brought to Lockport by Janko Group and will be managed by Janko Hospitality. The new hotel will feature 81 comfortable guestrooms and suites, an indoor pool, fitness facility, business and meeting centers, grab-and-go breakfast options and a 24-hour market for guests to enjoy during their stay. “We’re both excited and honored to be bringing the first...
Hyatt Announces Plans for the Addition of Three Story Hotels in Sweden
JDV Hotels | January 27, 2021
CHICAGO (JANUARY 27, 2021) – Hyatt Hotels Corporation (NYSE:H) announced today that a Hyatt affiliate has entered into franchise agreements with Story Hotels Holding AB to bring three hotels in Sweden under the JDV Hotel brand, helping to grow Hyatt’s independent collection brand in Europe. The three boutique hotels – Story Hotel Riddargatan and Story Hotel Signalfabriken in Stockholm, as well as Story Hotel Studio Malmö, Sweden – will all retain their individual hotel names and unique identities. The three Story Hotels will be available for reservation through Hyatt’s booking channels and for World of Hyatt members to earn and r...
IHG Signs MDA With Ishraq Hospitality to Open 8 New Holiday Inn Express Hotels Across MEA
IHG | January 27, 2021
27 JANUARY 2021 - IHG® Hotels & Resorts, one of the world’s leading hotel companies, has recently signed a Master Development Agreement (MDA) with Ishraq Hospitality, a division of the Dubai-based Mohamed & Obaid Almulla Group, to develop eight hotels across IHG’s midscale brand, Holiday Inn Express, in the MEA region. The multi-property portfolio license will see new hotel openings in the United Arab Emirates, Sultanate of Oman, Bahrain, Jordan and Egypt in the near term. Ishraq Hospitality, which operates HIEX under the IHG franchise, currently owns four Holiday Inn Express hotels in the UAE in partnership with IHG. Holiday ...
Agilysys Reports Fiscal 2021 Third Quarter Revenue of $36.7M
Agilysys | January 27, 2021
Reports Record Recurring Revenue of $22.8M Inclusive of Subscription Revenue Growth of 18% Reports Positive Adjusted EBITDA of $7.6M Quarterly Free Cash Flow of $7.8M and Cash Balance Increase of $6.9M to $92.6M Alpharetta, GA – January 26, 2021 - Agilysys, Inc. (Nasdaq: AGYS), a global provider of next-generation hospitality software solutions and services, today reported operating results for its fiscal 2021 third quarter and period ended December 31, 2020. Summary of Fiscal 2021 Third Quarter Financial Results Total net revenue was $36.7 million, compared to total net revenue of $42.0 million in the comparable prior-year peri...
Wyndham Partners With The Thrash Group to Add Seven Hotels Managed by Charlestowne Hotels
the Thrash Group | January 26, 2021
PARSIPPANY, N.J., Jan. 26, 2021 -- Wyndham Hotels & Resorts, the world's largest hotel franchising company with approximately 9,000 hotels across 90 countries, today announced plans for further growth with seven new hotel franchise agreements for its namesake, upscale, Wyndham® brand in the U.S. The hotels are owned by national hotel development company, The Thrash Group, and managed by Charlestowne Hotels. The properties include The Thrash Group's Origin Hotel Collection, consisting of five lifestyle hotels as well as one historic hotel and a brand new construction hotel all of which will operate under the Wyndham umbrella. "We a...
