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
Mortenson Development Begins Construction 176-Room Hilton Garden Inn Madison Adjacent to University of Wisconsin – Madison
Mortenson | August 19, 2019
Madison, WI – (August 19, 2019) – Mortenson Development has announced that it has completed the land purchase and hotel brand negotiations and that construction has started on the seven-story, 176-room Hilton Garden Inn Madison development project, located at 770 Regent Street. The site is strategically positioned adjacent to both the Southwest Commuter Bike Path and East Campus Mall, which connect pedestrians to the University of Wisconsin-Madison, providing convenient access to campus facilities including the Kohl Center, an arena and athletics center; Memorial Union, the student union on Lake Mendota; and Camp Randall Stadium, home to ...
Why There Is More Than Just Analyzing RevPAR Index
HotStats | August 19, 2019
By Laura Resco Financial performance in the hospitality industry is traditionally measured in absolute terms: actuals for the relevant KPIs are compared against their budgeted numbers and, from this assessment, action plans are developed to correct course when needed. Moreover, in the presence of changes in market conditions, budgets are revised to make goals reflect the new business environment. This absolute method measures a hotel’s performance against a backdrop of external factors. And although this knowledge is crucial, it by no means suffices to grasp the entirety of an operation’s financial health. The relative method, on th...
Radisson Hotel Group Signs With Bamboo Capital Group for Radisson Blu Hoi An on Vietnam’s Central Coast
Radisson Hotel Group | August 19, 2019
Radisson Hotel Group has announced the signing of a stylish, design-led beachfront property close to Hoi An, the heritage port town on Vietnam’s central coast. Scheduled to open in 2021, Radisson Blu Hoi An will be nestled directly on the soft sands of Hà My Beach, just 8km from Hoi An’s UNESCO World Heritage-listed town center and 30 minutes’ drive from Danang International Airport. Infused with tropical touches, this elegant low-rise property will flow around a series of reflective pools, with wooden walkways and landscaped gardens. Comprising 734 rooms, suites and villas, this will become the largest property in the company’...
Hospitality Financial Leadership: Top 10 Hotel Budget Review Tips
David Lund | August 19, 2019
By David Lund When you are reviewing a hotel budget you want to ask the right questions—the ones that will yield the biggest treasure. You see, the game of budgets in most hotel companies where the corporate or regional master needs to approve the plan before it is presented to the owner, is a game of under promise now and hopefully over deliver next year. Some people I know call this the practice of sandbagging. It is not mean or deceitful, rather it is a game. If you are asleep at the switch when you are doing the review, well, that is your problem. Operators are always looking for items they can keep in their back pocket for the...
LodgeWorks Partners Bringing ARCHER Hotel to Tysons, Virginia
ARCHER | August 14, 2019
Tysons, VA – August 14, 2019 – ARCHER® Hotel Tysons, a new-build property in the heart of Scotts Run South, is officially underway. LodgeWorks Partners, L.P., the owner, operator and developer of the growing Archer Hotel collection, hand-picked this location adjacent to the McLean Silver Line Metro Station, which provides easy access to Washington, D.C., just nine miles away, and the city’s two airports, Dulles International and Reagan National. Archer Hotel Tysons is currently the only hotel in the development plans for Scotts Run South. The dynamic Scotts Run development is destined to be a new walkable urban village and will attract...
Wyndham Signs With Pete Patel for Development of Five Microtels Under Brand’s Moda Prototype Design
Wyndham Hotels & Resorts | August 13, 2019
PARSIPPANY, N.J. (August 13, 2019) – Microtel® by Wyndham, the award-winning economy hotel brand under Wyndham Hotels & Resorts (NYSE: WH), today announced an agreement with developer Pete Patel for five new properties under the brand’s innovative Moda prototype design. Just five months after launching the prototype, designed to increase operational efficiencies and lower development costs for hoteliers, Microtel by Wyndham’s pipeline is expanding with over a dozen new hotels adopting the design. The agreement with Patel calls for Microtel by Wyndham properties in strategic growth markets including Destin and Fort Walton Beach...
Sonnenblick-Eichner Company Arranges $46,000,000 of First Mortgage Financing for Maison Dupuy, New Orleans, Louisiana
Sonnenblick-Eichner Company | August 13, 2019
Beverly Hills, CA (August 13, 2019) -- Sonnenblick-Eichner Company announced today that it has arranged $46,000,000 of interim first mortgage financing for the Maison Dupuy, a five-story, 200-room, full-service, boutique hotel located in the world-famous French Quarter of downtown New Orleans, LA. Proceeds from the five-year non-recourse LIBOR-based loan will be utilized to pay off the existing indebtedness and provide funds for the renovation of the property. The Hotel is excellently located just two blocks off of Bourbon Street at the corner of Toulouse Street and Burgundy Street. The French Quarter is the center of New Orleans’ hospit...
Hilton Columbus Downtown Breaks Ground on 28-Story Tower Expansion
Franklin County Convention Facilities Authority | August 12, 2019
COLUMBUS, Ohio - Hilton Columbus Downtown, owned by the Franklin County Convention Facilities Authority and managed by Hilton Management Services, broke ground on a 28-story tower to create the first 1,000-room convention hotel in Columbus. Together with the existing Hilton, the hotel will offer 75,000 square feet of meeting space and will be the largest hotel in Ohio when it opens in 2022. View the fly-through video of the Hilton Tower here. “The addition of the tower to the Hilton Columbus Downtown will allow Columbus to attract new meetings and events business,” said Don Brown, executive director, Franklin County Convention Facil...
IHG and Operadora MBA Celebrate Groundbreaking of First avid Hotel in Mexico
IHG | August 8, 2019
IHG® (InterContinental Hotels Group), one of the world’s leading hotel companies, announced today that its avid™ hotels brand continues to expand, with nearly 200 signings now in place for new locations. More than 60 of those signed are hotels under construction, or have design and construction plans approved. Accelerating growth internationally is key to the brand’s overall expansion, with the company recently marking the groundbreaking of the first avid hotels location in Mexico. Leaders from IHG joined owners of the new Fresnillo location, Mexico-based Operadora MBA, as well as owners of other future avid hotels in Mexico, g...
Briad Group Breaks Ground on Courtyard by Marriott Hamilton in New Jersey
The Briad Group | August 8, 2019
Hamilton, NJ -- August 8, 2019 -- Courtyard by Marriott celebrated the groundbreaking of Courtyard Hamilton on Wednesday, August 7th. Located at 530 State Highway 130, the hotel will provide guests with easy access to Trenton and Princeton and will be within an hour of New York City and Philadelphia. The property will also place guests near Princeton University, Six Flags Great Adventure and a variety of shops and restaurants. The Hamilton location will employee approximately 40 people and is slated to open early 2021. Courtyard by Marriott Hamilton is owned and managed by Briad Lodging Group, LLC, the hotel division of Livingston, New Jersey...
Radisson Signs With Thai-Chinese Property Holdings for Radisson Phuket Mai Khao Beach in Thailand
RADISSON HOTEL GROUP | August 8, 2019
August 8, 2019 -- Radisson Hotel Group today announced the signing of a new upscale Radisson property in Thailand, located on Phuket’s sunset coast, in partnership with Thai-Chinese Property Holdings. Scheduled to open in Q1, 2023, Radisson Phuket Mai Khao Beach is strategically located on the island’s northwest shore, with direct access to Mai Khao Beach – an 11km-long stretch of sand overlooking the Andaman Sea. Just 15 minutes’ drive from Phuket International Airport, this destination is also easily accessible. Radisson Phuket Mai Khao Beach will feature 222 contemporary rooms and suites, ranging from the spacious 35 square meter...
Briad Group Celebrates Groundbreaking of Homewood Suites Edison in New Jersey
The Briad Group | August 7, 2019
Edison, NJ -- August 7, 2019 -- Homewood Suites by Hilton, part of Hilton’s All Suites portfolio, celebrated the groundbreaking of Homewood Suites Edison yesterday. Located at 100 Parsonage Road, the hotel will provide guests with easy access to the New Jersey Turnpike, Garden State Parkway and Menlo Park Train Station. The hotel will be less than two minutes away from the Metro Park Corporate Center, which features more than 5 million square feet of class A office space. The property will also place guests near Rutger Gardens, Roosevelt Park, Washington Rock State Park, Menlo Park Mall and a variety of shops and restaurants. The Edison loc...
Deutsche Hospitality Expands in Switzerland With Development of Second IntercityHotel Opening in Geneva
IntercityHotel | August 7, 2019
Frankfurt am Main, 7 August 2019 - Deutsche Hospitality has announced further development plans for its core German, Austrian and Swiss markets. The second IntercityHotel to be launched in Switzerland will open in Geneva in 2022. The IntercityHotel Geneva Airport will be located in the new Quartier de l’Étang between the airport and the city centre and will boast a total of 270 rooms. It will offer fully air conditioned rooms with modern furnishings, free Wi-Fi, a wellness area with gym, an all-day restaurant, a modern meetings area and a Crew Lounge. The hotel in Switzerland’s second largest city will form part of a new generation o...
Marriott International Launches All-Inclusive Platform to Bring Its Brands, Scale and Trusted Service to Growing, Global Vacation Segment
Marriott International | August 6, 2019
A rendering of Nia, the planned all-inclusive destination with four Marriott International brands including The Ritz-Carlton and Westin Hotels. It is set to rise in Riviera Nayarit on Mexico’s West coast. Company poised to grow in the all-inclusive segment by leveraging its Marriott Bonvoy travel program and iconic brands including The Ritz-Carlton and Westin Hotels & Resorts Marriott International to manage five all-inclusive resorts with more than 2,000 rooms and owner investment of more than $800 million Responding to consumers’ growing desire around the world for premium, worry-free vacations, Marriott International, Inc. (NA...
Choice Hotels Signs With Brar Hotels Group for Development of Spokane’s First Cambria Hotel
Cambria Hotels | August 6, 2019
ROCKVILLE, Md. -- August 6, 2019 -- Choice Hotels International, Inc. (NYSE: CHH) has signed an agreement with Brar Hotels Group, LLC for the development of a Cambria hotel in Spokane, Wash.— fueling the company's westward expansion strategy and marking the brand's first location in the city. The four-story, 91-room upscale hotel is slated to open in 2020. Just minutes from the downtown central business district and the Spokane International Airport at 4611 S Dowdy Rd., the Cambria hotel will offer convenient access to several of the region's largest employers, including Fairchild Air Force Base, Providence Sacred Heart Medical Ce...
Sandestin Investments Plans Summer 2020 Opening of Hotel Effie Sandestin
Hotel Effie Sandestin | August 5, 2019
MIRAMAR BEACH, FL -- August 5, 2019 -- Ushering in a new era in aspirational vacationing to Northwest Florida’s Emerald Coast, Sandestin Investments, LLC announces the name and launch of its exquisite family-owned hotel, set to debut in early summer of 2020. Hotel Effie Sandestin is now accepting leisure and group reservations. The hotel features 250 guest rooms with multiple room types, a delectable three-meal restaurant, craft cocktail lobby bar, and in-room dining all curated by celebrity Chef Hugh Acheson. It also boasts a luxury spa, state-of-the-art fitness center, the only rooftop pool on Florida’s Emerald Coast and 20,000 sq....
Hospitality Financial Leadership: Subsidizing Your Company, Association Meeting Costs / David Lund
David Lund | August 5, 2019
By David Lund In my recent travels working with clients and delivering keynotes as well as financial leadership workshops for management teams and hotel associations, I noticed an interesting way that more than one client used to “subsidize” their meetings—reducing their costs—and I wanted to share it with you. Having your regional meeting, national meeting or hosting your association event is expensive. There are travel costs, perhaps speaker fees and venue costs. Depending on the type of event there can be accommodations, meals, audiovisual and meeting room rentals. For companies, there is also lost productivity cost associate...
Hyatt Signs With CES Pirie Hotel to Develop New Hyatt Regency in Adelaide Set to Open in 2023
Hyatt Regency | August 2, 2019
CHICAGO, IL -- August 2, 2019 -- Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with CES Pirie Hotel (SA) Pty Ltd., an entity wholly owned by Chip Eng Seng Corporation Limited, to develop a new Hyatt Regency in Adelaide. The new 295-room hotel will mark the return of a Hyatt branded hotel to Adelaide, continuing Hyatt’s expansion in Australia. With construction planned to commence in early 2020, Hyatt Regency Adelaide is expected to open in early 2023. The Hyatt Regency brand offers a stress-free environment for event, leisure and business travelers alike to enjoy a produ...
Hyatt Reports Second-Quarter 2019 Results; Net Income Increased 10.6% to $86 Million
Hyatt Hotels Corporation | August 1, 2019
Strong transient demand drove 1.3% system-wide RevPAR growth, and fees and net rooms grew at a double-digit pace inclusive of the Two Roads Hospitality LLC acquisition. Second quarter of 2019 financial highlights as compared to the second quarter of 2018 are as follows: Net income increased 10.6% to $86 million. Adjusted EBITDA decreased 2.1% to $213 million, a decrease of 1.0% in constant currency. Comparable system-wide RevPAR increased 1.3%, including an increase of 2.3% at comparable owned and leased hotels. Excluding the negative impact from the timing of the Easter holiday, comparable RevPAR at system-wide hotels and compar...
IHG® Invests in Scotland as They Bring InterContinental® Hotels & Resorts Back to Edinburgh
IHG | July 31, 2019
SCOTLAND -- July 31, 2019 -- This important investment milestone follows the opening of Kimpton branded hotels in Edinburgh and Glasgow earlier this year. With the reintroduction of the InterContinental® Hotels & Resorts brand in Scotland, IHG further secures their position as the UK’s largest luxury hotel operator. The hotel was previously sold but the integration of the Principal portfolio provided the opportunity to bring it back in to the IHG brand family. But after significant renovations, InterContinental Edinburgh – The George has re-entered the system, enabling IHG to expand their flagship luxury brand in their home market...
Dream Hotel Group Partners With 18Main to Bring Dream Hotels Brand to Downtown Memphis
Dream Hotels | July 31, 2019
Set to open in 2022, Dream Memphis joins cultural vibrancy and record-breaking tourist experience of Downtown Memphis New York, New York (July 31, 2019) – Renowned hotel and brand management company Dream Hotel Group today announced plans to bring its Dream Hotels brand to Downtown Memphis, set to open in 2022. In partnership with Memphis real estate developer 18Main, the group is proud to introduce a new boutique hotel that both reinvents the traditional hotel experience and celebrates the city’s rich history, dynamic food and entertainment scene, and growing demand for innovation. Representing a major milestone for the hospitality ...
Midas Hospitality and InSite Development to Develop Residence Inn in Lancaster, California
Midas Hospitality | July 30, 2019
Lancaster, CA, July 30, 2019 -- After successfully raising $35 million in only four months for its first opportunity zone project, Midas Hospitality is going westward to stake its next claim. Midas Hospitality, a leading hotel development, management and investment firm, recently announced its second opportunity zone fund that seeks to raise $12 million for a new Residence Inn located in Lancaster, Calif. Midas will co-develop the $25 million, 107-room hotel along with Los Angeles-based InSite Development. Located at 857 W. Lancaster Blvd. in Lancaster, Calif., the hotel has a targeted groundbreaking date in late 2019 with a grand openi...
Kuala Lumpur Metro Group to Build Lexis Hibiscus 2 in Port Dickson
Kuala Lumpur Metro Group | July 30, 2019
Port Dickson, July 30, 2019 – Kuala Lumpur Metro Group, in a joint venture with Menteri Besar Incorporated (Negeri Sembilan government investment arm) recently announced the development of its latest resort, Lexis Hibiscus 2, in an official signing ceremony, witnessed by YB Dato’ Seri Anwar Ibrahim, Member of Parliament for Port Dickson. Scheduled to open in 2024, the 5-star luxury resort which will be situated adjacent to Lexis Hibiscus in Port Dickson, has an estimated gross development value of RM 500 Million and will feature 760 rooms, comprising of 582 water villas and 178 sky pool villas. Just like the Lexis Hibiscus, each villa ...
NexGen Hotels & Genuine Hospitality Break Ground on New TownePlace Suites by Marriott in Waukegan, Illinois
Genuine Hospitality LLC. | July 29, 2019
SAINT LOUIS, IL, July 29, 2019 – Chicago, IL based hotel developer, NexGen Hotels & St. Louis-based hotel operator, Genuine Hospitality, LLC announces the groundbreaking of a new 96-room TownePlace Suites by Marriott – Waukegan, IL. Located at 402 Lakehurst Rd. Waukegan, IL, the hotel is ideally located at the Southeast corner of I-94 and Route 120, 4-miles southwest of downtown Waukegan, IL. The TownePlace Suites by Marriott – Waukegan will open Q3, 2020 and will be operated by Genuine Hospitality, LLC. The TownePlace Suites by Marriott – Waukegan, IL will make the third Marriott asset within the 7-hotel Genuine Hospitality...
