Brandt Hospitality Group Getting Great Results From Accounting Software Partner
Aptech | June 5, 2024
Hospitality Financial Leadership: Why Prioritizing Employee Development Has the Best ROI for Owners Too
David Lund | March 27, 2023
Finance
Avison Young Hospitality Group Recent Closing
Avison Young Hospitality Group | February 28, 2019
ATLANTA – February 28, 2019 – Avison Young Hospitality Group in association with Metropolis Property Group announced today the closing of the 170-room Residence Inn on Long Island for $20,500,000. Thierry Roch of Avison Young and James Ashley (A.J.) Johnson with Metropolis Property Group handled the sale. ...
IDeaS Revenue Solutions Reports Unprecedented Momentum in EMEA Markets
IDeaS | February 28, 2019
Following a year of significant regional wins, IDeaS projects exponential growth to continue in 2019 Tweet This: @IDeaS_RevOpt has taken Europe by storm as the preferred provider of automated revenue-optimization technology for hotels and car parks. www.ideas.com/news #RevenueScience LONDON—Feb. 28, 2019—IDeaS Revenue Solutions, the world's leading provider of automated revenue management software and services, reported record-breaking client wins across the EMEA region in 2018. With additional new hotel and car park clients in the pipeline, IDeaS expects 2019 to be another significant year, further bolstering IDeaS' indust...
Sonnenblick-Eichner Company Arranges $26,500,000 of First Mortgage Financing for The Inn at the Pier, Pismo Beach, California
Sonnenblick-Eichner Company | February 26, 2019
Beverly Hills, (February 26, 2019) – Sonnenblick-Eichner Company has arranged $26.5 million of interim first mortgage debt to refinance the Inn at the Pier, a new 104-room, full-service luxury boutique hotel located one-half block from the Pacific Ocean in the heart of Pismo Beach, California. The non-recourse interim loan was provided by a debt fund. The loan was priced in the mid-300s over 30-day LIBOR and provided for a return of equity to the Borrower. The Inn at the Pier, which opened in November of 2017, features a full-service restaurant, pool and spa, and the only roof-top bar in Pismo Beach. Other amenities include 1,200 ...
Hospitality Financial Leadership: She Said She Was Born Without the Financial Gene
David Lund | February 25, 2019
The following is a recap of a single coaching session which turned into a coaching relationship with a client. For this article I am going to call my client Jennifer. I was speaking at a local hotel association event and as usual a few people came to see me at the end to share their thoughts. Jennifer was the very last person to speak with me. She waited until the room was almost empty. She was shy and nervous. "I just want to thank you," she said. "Thank me for what," I replied. "Thank you for giving me some hope," she said. I smiled, as I knew exactly what she meant, and I said, "Hope for what?" She then explained how terrified she wa...
U.S. Lodging Outlook Good Through 2020, Economic “Blip” Causes Slowdown In 2021 Before Returning to Positive Growth for 2022
CBRE Group, Inc. | February 25, 2019
Atlanta – February 25, 2019 – A favorable economic outlook will lead to continued growth in U.S. hotel revenues and profits through 2020. However, an economic slowdown in 2021 will cause a short-lived softening of lodging industry fundamentals that year. According to the March 2019 edition of Hotel Horizons®, CBRE Hotels Americas Research is forecasting U.S. hotel rooms revenue per available room (RevPAR) to increase by 2.5 percent in 2019 and an additional 2.0 percent in 2020. However, for 2021, CBRE is projecting a slight decline in RevPAR of 0.6 percent. Fortunately for hoteliers, that immediately is followed by 1.4 p...
Pebblebrook Hotel Trust Completes Sale of Hotel Palomar Washington, DC for $141.5 Million
Pebblebrook Hotel Trust | February 25, 2019
BETHESDA, Md. -- Pebblebrook Hotel Trust (NYSE: PEB) (the "Company") today announced that it has closed on the sale of the 335-room, Hotel Palomar Washington, DC for $141.5 million. The sale closed on February 22, 2019. The sale price of $141.5 million reflects a 14.9x EBITDA multiple and a 5.9% net operating income capitalization rate (after an assumed annual capital reserve of 4.0% of total hotel revenues) based on the hotel's operating performance for 2018. When combined with the recently announced sale of The Liaison Capitol Hill, the aggregate sales proceeds of $252.5 million for these two sales reflect a 15.7x EBITDA multiple and ...
Hospitality Financial Leadership: Roger Penske & The Hotel PMS
David Lund | February 18, 2019
By David Lund I had a chance meeting with Roger Penske in the parking lot behind the paddock in October 1994 at the Indy Car Grand Prix of Monterey in Laguna Seca, California. It was the end of qualifying on Saturday and his pilot and fellow Canadian, Paul Tracy had just won the pole position. For you hoteliers who are not motorsports fans, pole means he was the quickest in qualifying and that means he starts in the first position on Sunday. This is a story about hospitality financial leadership in the face of a challenge and adversity. Before I get into the hotel story and the connection to Roger, a bit more about him and the race. The...
Jackson-Shaw Begins Construction on 252-Room AC Hotel by Marriott in Fort Worth, Texas
Jackson-Shaw | February 15, 2019
FORT WORTH (Feb. 15, 2019) – Jackson-Shaw, a national real estate development company headquartered in North Texas, today commenced construction on the 252-room, 16-story AC Hotel Fort Worth in downtown Fort Worth. When the property opens in the fall of 2020, it will be the first AC Hotel by Marriott to debut in Tarrant County, Texas, offering travelers both a thoughtful approach to design and intuitive, elevated guest service. The hotel is rising on the southwest corner of Fifth and Main Street, adjacent to the historical art deco Kress Building, and only minutes away from wonderful restaurants, entertainment, shopping and night ...
Pebblebrook Hotel Trust Completes Sale of the Liaison Capitol Hill
Pebblebrook Hotel Trust | February 15, 2019
BETHESDA, Md.--February 15, 2019--Pebblebrook Hotel Trust (NYSE: PEB) (the "Company") today announced that it has closed on the sale of the 343-room, Liaison Capitol Hill in Washington, D.C. for $111.0 million. The sale price of $111.0 million reflects a 16.9x EBITDA multiple and a 4.9% net operating income capitalization rate (after an assumed annual capital reserve of 4.0% of total hotel revenues) based on the trailing twelve-month operating performance for the period ended December 31, 2018. Proceeds from the sale of the Liaison Capitol Hill will be utilized for general business purposes which may include reducing the Company's outst...
The Art and Science of Hotel Brand Valuation
Hotelivate | February 15, 2019
Businesses are frequently valued using one or more established approaches across industries and sectors. Their replacement cost, income generation ability and/or comparable sales of similar businesses usually form the basis of such valuations. However, in most cases, a business value using the approaches mentioned herein is largely determined for tangible assets, as they have been regarded as the main source of value creation. In recent times, several companies have increasingly and justifiably so, embraced the idea that a business's value is not made up of its tangible assets alone. The importance of not just the brand, but also patent...
Why Retail Owners Are Partnering With Hotels
Jim Butler | February 13, 2019
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 13 February 2019 - Recently, my partner, Guy Maisnik, and I spoke about hotel retail mixed-use development with Kelsi Maree Borland of GlobeSt.com. Her article, Why Retail Owners Are Partnering With Hotels ran with the subtitle, With retail evolving to be more experience-driven, retail owners are finding the benefits of adding boutique hotels to shopping centers. Retailers adding hotels to the mix is nothing new – but they may be more motivated than ever. The Hotel Law Blog has been covering hotel mixed-use projects — where th...
Sales and RM – Why Can’t We Be Friends?
Matt Curry | February 13, 2019
By Matt Curry According to the 2019 AMEX Global Meetings & Events Forecast,1 the meetings industry is in a period of consistent growth, with small but meaningful increases projected in meeting sizes, length, and number of attendees. And although trend data2 supports that room night share, guest-paid RevPAR, and group ADR have been relatively flat, the group/meetings customer segment remains a strong and steady source of hotel business. Business meetings, conventions, sports tournaments, educational gatherings, and others all provide lucrative opportunities for hotels. They are sources of repeat business, fill rooms during off-peak t...
Hospitality Financial Leadership: City/Region Wide Supply and Demand Analysis
David Lund | February 11, 2019
By David Lund When you are preparing your budgets, an incredibly valuable tool is what I refer to as the "citywide supply and demand analysis." I didn't come up with this, however, I am going to explain how it works, why it's so important to complete it at least annually and how to analyze it. In a previous post, I wrote about how to calculate your RevPAR index and how to measure this against your competitive set, sort of a manual version of what STR supplies. This concept is similar, but one does not replace the other and vice versa. The "citywide" report allows you to see where you are relative to your entire market, where you histori...
Avison Young Hospitality Group Recent Closings
Avison Young | February 11, 2019
ATLANTA – February 11, 2019 – Avison Young Hospitality Group announced today the closing of four transactions since the first of the year. The properties include a full-service Marriott in south Florida that sold for $49 million, a Marriott branded hotel in Bossier City LA, a historic hotel on the water in Rhode Island and a mid-market hotel in the southeast. Since 2013, the Avison Young Hospitality Group has now closed 103 Marriott branded hotels, 71 Hilton branded assets, 49 IHG branded assets and 146 other braded hotels. ...
Airline Hotels Installs Aptech’s PVNG Enterprise Accounting at 9 Properties
Aptech Computer Systems, Inc. | February 7, 2019
PVNG Upgrade Lifts Data to The Cloud; Lets Managers Instantly Compare Performance for Better Business Decisions PITTSBURGH, February 7, 2019 – Aptech Computer Systems announced that Airline Hotels upgraded its financial system to PVNG Enterprise Hotel Accounting Software at nine properties. Airline Hotels is a second-generation, family-founded, hospitality company, based out of Saskatchewan that owns and operates hotels. Browser-based PVNG hotel accounting software simplifies accounting operations and safeguards data in the cloud. Aptech is the leading provider of hospitality business intelligence, budgeting and forecasting, and e...
Going Beyond Transactions: ‘Conversational Commerce’ and Its Impact on the Travel and Hospitality Industry
Alan Young | February 6, 2019
Coined by Uber's Chris Messina, consumer demand for digital-centric interactions with hotel and travel brands is on the rise By Alan E. Young, Puzzle Partner It's 2019, and I would argue that there have never been more marketing-related "buzzwords" battling it out for conversational real-estate across thought leadership articles, webinars, white papers and more. Whether it's agile marketing, catering to the 'age of the consumer,' hyper-personalization, or the mobile age — there are plenty of commerce-related silos to get lost in as industry leaders seek out the trends and methods which can best benefit their respective brand a...
Shiji Acquires Touchpeak Software Inc, an International Payment Solutions Provider
Touchpeak Software, Inc. | February 5, 2019
Adding to Shiji Payment Solutions, Touchpeak Software Inc will further enhance Shiji's global payment solutions. Atlanta, 5 February 2019, Shiji completed the acquisition of Touchpeak Software, Inc. and its subsidiary EFT Middleware LLC. After being an investor in the company for a number of years, Touchpeak will now be incorporated into Shiji Payment Solutions and continue to operate its business and serve its customers as it has before as a wholly owned company of the Shiji Group. Touchpeak Software, Inc. which was founded in 2014 had built and deployed a payments system integration framework that is in use in the USA, Canada, UK, an...
Hospitality Financial Leadership: The 5 Hidden Costs of Being Branded
David Lund | February 4, 2019
By David Lund Marriott. Hilton. IHG. Wyndham. Choice. For years these chains have publicized the advantages of working with them: advanced loyalty programs that promise to bring consistent customers, low fees, tough negotiations with OTAs, and preferred financing options. Not so fast. Are the brands' claims actually true? While many owners have fallen victim to the claims of the brands, you need not do the same. As Mark Twain once said, "Whenever you find yourself on the side of the majority, it is time to pause and reflect." Let's take a closer look at what the brands are claiming, to make sure you know what to expect before entering i...
Paramount Lodging Advisors Sells Ocean Front Gold Beach Inn, Ireland’s Rustic Lodges & RV Park and Ireland’s Commercial Income Property in OR
Paramount Lodging Advisors | January 31, 2019
Paramount Lodging Advisors (PLA) has successfully executed the transaction of the Ocean Front Gold Beach Inn, Ireland's Rustic Lodges & RV Park and Ireland's Commercial Income property in Gold Beach, OR. Senior Managing Director Scott Griemsmann and Senior Associate Subu Thiagarajan represented the seller in the sale. This transaction presented the buyer a unique opportunity to acquire two independent hotels, an RV Park, and commercial rental units on several acres between the Pacific Ocean and coastal Highway 101. Upon completion of a property improvement plan (PIP), upgrading technology, and implementation of professional manageme...
Hotel Lawyer: Brand Franchise Owners Ask “What Happened to My Area of Protection?”
Jim Butler | January 31, 2019
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com Hotel Lawyer on Owners' concerns with hotel brand franchise agreements — Areas of Protection or Non-competition clauses My partner Bob Braun is a senior member of our Global Hospitality Group® and has experience with many hundreds of hotel management and franchise agreements. Bob is also co-author of the Hotel Management Agreement & Franchise Agreement Handbook (3rd edition), and has first-hand experience with branding and management for every major traditional hotel brand, including a number of multi-branded properties. Tod...
2019 Travel and Hospitality Industry Outlook
Deloitte Center for Industry Insights | January 31, 2019
Key trends powering growth in a technology-driven industry A strong economy, rising global consumer purchasing power, and digital innovation have all fueled record growth in the travel and hospitality industry. But there are still several challenges that could throw the industry off course in 2019. What are the biggest trends likely to shape hospitality, airlines, cruises, and ground transportation in the year ahead? Key US travel and hospitality industry trends for 2019 2019 marks a decade since the US travel industry emerged from the depths of economic recession. And what a decade it's been. Over the past 10 years, the surge of recove...
Puzzle Partner’s Newest Client, Plum, Develops Innovative New Product That Brings Wine by the Glass Directly to Your Hotel Room
Puzzle Partner | January 31, 2019
Plum selects Puzzle Partner to capitalize on the benefits offered by the agency's expertise and impressive track record Toronto, Canada (January 31, 2019) - Puzzle Partner, the most trusted B2B travel and hospitality technology marketing agency, announced today that they have signed Plum, the first automatic appliance that perfectly preserves, chills, and serves wine so that it can be enjoyed one glass at a time in the privacy of a guest's hotel room. Puzzle Partner will become Plum's source for strategic and tactical marketing initiatives including content development, branding, public relations and persuasive messaging. With a roster ...
The Top 7 Hospitality Trends Every Hotelier Should Watch in 2019
Tammy Farley, President & Co-Founder, The Rainmaker Group | January 30, 2019
By Tammy Farley, President & Co-Founder, The Rainmaker Group Last year proved to be a strong one for the U.S. hotel industry, with occupancy, average daily rate (ADR), and revenue per available room (RevPAR) all trending positively. For 2019, STR and Tourism Economics1 optimistically project another year of growth. Changes in supply, however, will impact local market occupancy levels and hoteliers' pricing power, with many hotels experiencing more intense competition among key guest segments. To maintain profit margins, and stay ahead of the curve, consider your business in light of these top seven hospitality trends. Appealing to N...
5 Ways Hotels Can Drive Revenues in 2019
Hotelogix | January 30, 2019
As a hotelier, you focus on getting more bookings, increasing occupancy, and selling rooms at competitive rates to drive revenue for your property. But at the same time, you also need to understand how travelers are making their reservations, what they expect from you, and ultimately what makes them come back to your hotel. Here are some trends that can help you identify key areas, to fuel revenue growth at your property this year. #1 Keep an eye on millennial travelers As a hotelier, you can see many benefits if you understand millennial travelers' hotel booking pattern, and what they like. 1According to a report by Resonance Consultan...
