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
Dream Hotel Group Signs Dream San Antonio, Texas Location
Dream Hotels | January 27, 2020
Reveals plans to open 217-key Dream Hotel in downtown San Antonio in 2023 NEW YORK, NY (January 27, 2020) – Celebrated hotel brand and management company Dream Hotel Group announces plans to open Dream San Antonio, Texas in 2023. With more than twenty new hotels on the horizon for Dream Hotel Group, the signing of Dream San Antonio represents another exciting milestone in the continued growth and expansion of the company and its portfolio of lifestyle brands. “San Antonio is one of the most authentic, passionate and diverse cities in America, as seen through its bold culture, rich history and burgeoning art, music and culinary scene...
RobertDouglas Advises Geolo Capital and JW Capital Partners on the $120,000,000 Sale of the Thompson Washington, D.C.
RobertDouglas | January 27, 2020
New York – January 27, 2020 - RobertDouglas announced today that it advised a joint-venture between Geolo Capital and JW Capital Partners in arranging the forward-sale of the Thompson Washington, D.C. to Union Investment, a German institutional fund manager, for $120,000,000. “The opportunity to participate in the development of the Thompson Washington, D.C. attracted a wide range of investment options. Ultimately, Union Investment offered the most attractive structure though a sale-leaseback,” commented Evan Hurd, Principal and Managing Director. “Although the sale-leaseback model is commonplace in most European markets, it is sti...
IHG and Pro-invest to Bring the Sustainable voco™ Brand to New Zealand in 2021
IHG ® | January 22, 2020
IHG’s colourful voco™ brand is coming to New Zealand in mid-2021, following the signing of a franchise agreement between IHG and Pro-invest. voco Auckland City Centre will incorporate all the elements of the voco life, including 200 guest rooms that are designed around the ‘Me Time’ concept with premium beds for a quality sleep experience, superior showers, innovative lighting and user-friendly technology. Beyond guest rooms, the hotel will feature an all-day restaurant and bar, and guest gym. Located in the very heart of Auckland’s centre, at the corner of Albert and Wyndham Street, voco Auckland City Centre will not only loo...
IHG Signs Two New Hotels in Saudi Arabia Following Announcement of Office in Riyadh
IHG ® | January 22, 2020
IHG® (InterContinental Hotels Group), one of the world’s leading hotel companies, has announced two new properties in the Kingdom of Saudi Arabia. Further strengthening its foothold in the luxury segment in KSA, IHG has signed a management agreement for InterContinental Dammam in partnership with Salem Mohammed Al Qahtani. To cater to the need for more branded midscale accommodation in Riyadh, IHG has also signed a management agreement for Holiday Inn Riyadh Al Malaz in partnership with Saleh Alsalamah and Partner Companies. The agreements were announced at Saudi Arabia Hospitality Investment Conference (SHIC) 2020 in Riyadh. Opening...
Marriott Signs With Nahdet Al-Mashaer for World’s Largest Fairfield by Marriott Hotel in Makkah, Saudi Arabia
Marriott International | January 22, 2020
Marriott International, Inc. (NASDAQ: MAR) today announced that it has signed a landmark agreement with Nahdet Al-Mashaer to open a 2,600-room Fairfield by Marriott property in Makkah. The agreement is expected to deliver the first Fairfield by Marriott property to the Middle East and Africa region, create the largest Fairfield hotel in the world and bring one of the largest hotels to the growing religious destination of Makkah. Construction for the Fairfield by Marriott Makkah Al Naseem has already commenced and the hotel is slated to open in 2023. “We are thrilled to be working with Nahdet Al-Mashaer to create a distinctive Fairfield b...
Radisson Hotel Group Signs Radisson Hotel Apartments Muscat Ghala Heights in the Sultanate of Oman
Radisson | January 20, 2020
Brussels/Muscat - January 20, 2020 - Radisson Hotel Group is proud to announce the signing of Radisson Hotel Apartments Muscat Ghala Heights in the Sultanate of Oman. The newest addition brings the group’s portfolio up to eight hotels across five brands – including Radisson Collection, Radisson Blu, Park Inn by Radisson and Radisson – and will strengthen the group´s leading position within the Sultanate. As the economic and commercial capital of Oman, Muscat hosts an array of international companies and institutions and boasts a rich cultural heritage along with beautiful landscapes. Located within the Ghala Heights business distric...
Hospitality Financial Leadership: Duty Meals
David Lund | January 20, 2020
By David Lund Recently I attended a hotel association conference where I was a speaker for one of their breakout sessions. The opening morning of the convention started with a breakfast where we listened to the many great developments within the association in the past year and heard a fantastic story from the morning keynote about evacuating an entire city without one casualty or serious injury from an oncoming forest fire. What a morning! But the thing that got me more that anything else that day was a memory. The memory of being in that very room some 35 years earlier having breakfast all by myself. You see it was the hotel and dinin...
Long-Anticipated Hyatt Regency Salt Lake City Convention Center Hotel Breaks Ground
Visit Salt Lake | January 16, 2020
January 16, 2020. Salt Lake City, UT – After extensive planning, Visit Salt Lake, Salt Lake County, Portman Holdings and Hyatt Hotels Corporation announced the plans, timeline and details of the long-awaited and much-anticipated Salt Lake convention center hotel during a groundbreaking ceremony held Friday, January 10, at the Salt Palace Convention Center. The 700-room Hyatt Regency Salt Lake City will be located on the southeast corner of the lot on which the Salt Palace Convention Center sits and be built adjacent to the convention center’s public space. The 25-floor property will offer 60,000-square feet of indoor meeting space, in...
IHG Announces Strategic Partnership With Asset World Corporation (AWC) for Development of More Than 1,200 Rooms in Thailand
IHG | January 15, 2020
IHG® (InterContinental Hotels Group), one of the world’s leading hotel companies, has announced a strategic partnership with long-standing partner Asset World Corporate (AWC), Thailand's leading integrated lifestyle real-estate group, to manage a portfolio of properties across Thailand. The agreement will see the development of more than 1,200 rooms across Thailand, with the first signing announced today as the 306-room InterContinental Chiang Mai Mae Ping. Serena Lim, Vice President, Development, IHG South East Asia and Korea commented, “With plans to double our portfolio in Thailand in the next 3-5 years, this signing today between ...
Sonnenblick-Eichner Company Arranges Interim Leasehold First Mortgage Financing for Residence Inn by Marriott Walnut Creek, Walnut Creek, California
Sonnenblick-Eichner Company | January 15, 2020
Beverly Hills, CA – January 15, 2020 – Sonnenblick-Eichner Company has arranged interim first mortgage leasehold financing for the Residence Inn by Marriott Walnut Creek, located in Walnut Creek, CA. The non-recourse LIBOR-based loan funded upon completion of construction and the opening of the hotel. The Residence Inn by Marriott Walnut Creek is a 160-room, six-story, extended-stay hotel located in the heart of downtown Walnut Creek. The 77% loan-to-cost loan with a credit spread in the low 300s over LIBOR, provided a return of cash equity to the borrower and relieves them of the recourse obligations associated with the construction l...
9-year-old finds loaded Santa Clara County Sheriff deputy’s handgun in Airbnb Colorado Springs Airport hotels grow larger
January 14, 2020
Friday night, Jon Segarra and his family arrived at their Airbnb in South Lake Tahoe after a four-hour sojourn from the Bay Area, looking to get started on a snowy weekend. As Segarra, a Hayward resident, unloaded the car with his girlfriend and sister, the six kids between them ran pell-mell into the house. As the kids squabbled over sleeping arrangements and searched the house for board games, Segarra’s 9-year-old son Joshua, flanked by his two younger siblings and cousin, opened a bedside drawer. But instead of a checkers set or deck of cards, they found a badge. And a loaded handgun. Both apparently belong to a Santa Clara Coun...
Raffles Boston Back Bay Hotel & Residences Breaks Ground
January 13, 2020
The 33-Story, $400 Million+ Project Marks the First Raffles Hotel & Residences in North America Boston, MA – Raffles Boston Back Bay Hotel & Residences broke ground, writing a new story for both the illustrious Raffles Hotels & Resorts brand and the City of Boston. Projected to open in early 2022, the 33-story, $400 million+ project will be the first mixed-use property in North America for the world-renowned and iconic hospitality brand. Raffles Boston Back Bay Hotel & Residences will be located at 40 Trinity Place, Boston, MA. The flagship North American property will be a welcoming oasis within the heart of the city...
Serenade Caribbean Hotels Renames New Hotel to Serenade Punta Cana Beach, Spa & Casino Resort
Serenade Caribbean Hotels | January 13, 2020
PUNTA CANA, Dominican Republic (Jan. 13, 2020) - Serenade Caribbean Hotels has announced the renaming of its flagship hotel to Serenade Punta Cana Beach, Spa & Casino Resort, which incorporates "casino" in the title. Casino, along with the existing "beach" and "spa," reflect the value-added amenities that will be available at the new five-star, 603-room, all-inclusive resort scheduled to open in June 2020 on Playa Cabeza de Toro in Punta Cana, Dominican Republic. "In order to convey a complete vacation experience for guests, we have decided to update the name of our first resort to Serenade Punta Cana Beach, Spa & Casino Resort," s...
Spectacle Entertainment and Hard Rock International Break Ground On $400 Million Hard Rock Casino Northern Indiana
Hard Rock® | January 13, 2020
GARY, Ind., Jan. 13, 2020 -- Spectacle Entertainment and Hard Rock International announced the development and construction of Hard Rock Casino Northern Indiana at an official groundbreaking ceremony held on Thursday, Jan. 9. The ceremony was conducted at the construction site, located at 5400 West 29th Ave. in Gary, and included state and local officials, Spectacle Entertainment and Hard Rock executives. Concluding the ceremony, Executive Director of the Indiana Gaming Commission Sara Tait, Spectacle Entertainment Chairman and Chief Executive Officer Rod Ratcliff and Chairman of the Seminole Tribe of Florida Marcellus Osceolaplanted sh...
Hyatt Signs With KL MIDTOWN to Develop 450-Room Hyatt Regency in Kuala Lumpur
Hyatt Regency | January 13, 2020
CHICAGO (January 13, 2020) – Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with KL MIDTOWN Sdn. Bhd., a joint venture company by Hap Seng Consolidated Berhad (Hap Seng) and TTDI KL Metropolis Sdn. Bhd., to develop a new 450-room Hyatt Regency branded hotel in Kuala Lumpur. Set to be completed in 2024, the new hotel will mark the return of the Hyatt Regency brand to Kuala Lumpur. For leisure and business travelers visiting the Malaysian capital, Hyatt Regency Kuala Lumpur will deliver energizing experiences and a stress-free environment that embodies the Hyatt Regency br...
Hospitality Financial Leadership: Chapter Four – The Pencil
David Lund | January 13, 2020
By David Lund The week after the summit was a bit of a blur for me. Several requests for interviews, all declined. Our public relations manager handled these with a simple story the flag mishap was a mistake given the procurement of new flags and the innocent mix up of which ones go where. Not our finest hour but the furor died down. But not before the chairman’s call. He was ballistic. “How could you be so stupid,” he asked? I explained the situation to him and he calmed down a little. “That little princess,” he said, “You tell her the next time she calls that we are not part of her domain. “Liquor permits or...
Radisson Hotel Group Signs Radisson Hotel Saint Denis in Reunion Island
Radisson | January 9, 2020
Brussels/Saint Denis - January 9, 2020 - Radisson Hotel Group is proud to announce the signing of the Radisson Hotel Saint Denis in Reunion Island, the Group’s entry into their third Indian Ocean Island. The group is now present in three of the four main Indian Ocean Islands, bringing their Indian Ocean portfolio to seven hotels in operation and under development. Saint Denis is the administrative capital of the French overseas region, located on the north end of Reunion Island and Radisson’s newest hotel is located on the major axe within walking distance from the main commercial and financial district. It is ideally positioned in fron...
Marriott International Signs Agreement With Fibra Inn to Bring W Brand to Playa Del Carmen, Mexico
W Hotels Worldwide | January 9, 2020
218-room, oceanfront W Playa del Carmen is expected to open in 2023 Marriott International, Inc. (NASDAQ: MAR) today announced that it has signed an agreement with Fibra Inn (BMV: FINN13, ADR OTC: DFBRY) to bring the W brand for the first time to Mexico’s Yucatan Peninsula. The property is expected to rise on an oceanfront site in Playa del Carmen within walking distance to entertainment, upscale shopping and restaurants. “We are excited to work with hotel developer Fibra Inn to open a cutting-edge W hotel in Playa del Carmen, a destination ready for the brand’s bold design, signature Whatever/Whenever service and innovative program...
Virgin Hotels Nashville Set for May Opening in the Historic Music Row Neighborhood
Virgin Hotels | January 7, 2020
MIAMI, Jan. 7, 2020 -- Virgin Hotels, the lifestyle hotel brand by Virgin Group founder Sir Richard Branson, announces today that reservations are live for the brand's fourth hotel: Virgin Hotels Nashville. Reservations are currently being accepted for stays starting May 3, 2020, and can be made directly on the hotel's website, virginhotels.com/nashville or by calling (800) 806-8080. Conveniently situated at the helm of Nashville's historic Music Row neighborhood at 1 Music Square W, Virgin Hotels Nashville will deliver a one-of-a-kind hotel experience. The hotel will feature 262 Chambers, including Grand Chamber Suites, multiple dining an...
Access Point Financial Partners With AD1 Global to Finance the Development of Hyatt Place and Home2 Suites in Palm Bay
Access Point Financial | January 7, 2020
Leading hospitality industry lender selected to finance dual properties for new Florida development partnership, citing reliability and flexibility ATLANTA – January 7, 2020 – Access Point Financial, LLC (APF), a leading direct lender and specialty finance company focused exclusively on the hospitality industry, has signed an agreement with top hotel development and management firm, AD1 Global Hospitality, to finance the development of a Hyatt Place and Home2 Suites by Hilton located in Palm Bay, Florida. Access Point Financial provided $26.8 million in financing for the development of the hotels, with $15 million for the 106-room ...
Hospitality Financial Leadership: My 10,000 Hours
David Lund | January 6, 2020
By David Lund This piece is about a book I read that was a gift to me by my daughter one Christmas not that long ago. At the time I had no idea how much it would mean to me and how important it is for people to understand its message. The message is simple, no one just lands on this planet with what they need to be successful. We ALL must work for it. That’s right and I know you have heard this before as did I, but having read the book and now having experienced what I have it comes full circle. I want to share with you what it means to me—what it means to me to have worked for it and in hope that it will help you see your own maste...
Vision Hospitality Group Breaks Ground on Lifestyle Hotel: Kinley Chattanooga Southside
Vision Hospitality Group, Inc. | January 6, 2020
Chattanooga, TN – January 6, 2020 – Today, Vision Hospitality Group, Inc. announced the ground breaking of its second Kinley hotel, Kinley Chattanooga Southside. Joining the company’s Humanist lifestyle portfolio, the new hotel will feature 64 guest rooms and suites in the heart of Chattanooga, Tennessee’s Southside entertainment district. Kinley, Vision’s newest boutique hospitality brand, provides a home base for active explorers and casual adventurers, a focal point that feels effortlessly integrated into the local community and the world outside its doors. Derived from the word kinship, this personable name speaks to the bran...
IHG Signs With JSC “Tverskaya 24” to Debut Hotel Indigo in Moscow
IHG | December 23, 2019
Hotel Indigo® to enter the Moscow market with the signing of Hotel Indigo® Moscow – Tverskaya IHG® (InterContinental Hotels Group), one of the world’s leading hotel companies, has signed a management agreement with current partner, JSC “Tverskaya 24”, to open Hotel Indigo® Moscow – Tverskaya by the end of 2020. Hotel Indigo was established in 2004 and is growing at pace as one of the leading boutique brands in the world, with a goal of doubling its global presence over the next three to five years. With a current footprint of over 100 hotels across 19 countries, the signing of Hotel Indigo Moscow – Tverskaya brings the u...
PAR or POR? A Guide to Interpreting Hotel Operational Ratios / Laura Resco
HotStats | December 23, 2019
Hospitality data is only as good as the ratio used to calculate it. Is it better to be on PAR or on POR? We explain the differences between per-available-room and per-occupied-room bases Data is king, but futile if you don’t know how to best interpret the numbers. Asking yourself, “What’s the best way to analyze my data?” is too broad and only adds to the confusion. A better approach is to start by setting goals for your analysis. What specific information do you want to extract from your data? When you have a clear understanding of this, you can choose the most relevant ratios accordingly. The two most popular ways to calculate...
