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
Paramount Lodging Advisors Arranges the Sale of Two Dallas-Area Fairfield Inn & Suites
Paramount Lodging Advisors | June 19, 2017
DALLAS, TX— Paramount Lodging Advisors (PLA) has completed the sales of the Fairfield Inn & Suites in Las Colinas and the Fairfield Inn & Suites Fort Worth/Fossil Creek in the Dallas, TX area. Senior Managing Director Scott Griemsmann and PLA Associate, Subu Thiagarajan represented the sellers in the transactions. Both Scott and Subu represent Paramount Lodging's West Coast office located in San Rafael, CA. "Our team did an excellent job creating competition for the hotels. We produced roughly 350 executed confidentiality agreements, 60 tours, and 25 offers between the two hotels. This kind of market exposure coupled with ...
AccorHotels Selects IDeaS to Deliver Advanced Revenue Strategy for Its Worldwide Hotel Network
AccorHotels | June 15, 2017
Tweet this: Hospitality news: @IDeaS_RevOpt now available for 4k+ AccorHotels properties to offer advanced #RevenueManagement http://ideas.com/about/news/ MINNEAPOLIS – JUNE 15, 2017 – AccorHotels Group and IDeaS Revenue Solutions have announced a partnership that will enable the AccorHotels Group's properties to rely on IDeaS' revenue optimization expertise. IDeaS, the leading provider of automated revenue management capabilities, is one of the most trusted hospitality technology solution providers in the world, working with more than 9,000 properties. With IDeaS, each AccorHotels property will be able to intelligently pric...
HVS Releases the 2017 Hotel Cost Estimating Guide
Warren G Feldman | June 14, 2017
By Warren G Feldman, Scott P. Rosenberg , Christine Shanahan The Guide is a comprehensive listing of capital expenditure construction and FF&E costs for hotel renovations in the USA. ...
Hospitality Technology Pioneers Recognized with Quinquennial HFTP Award of Merit
HITEC | June 14, 2017
AUSTIN, TEXAS, USA (June 13, 2017) — Hospitality Financial and Technology Professionals (HFTP®) is proud to announce the honorees Keith Gruen, Hiroo Ichii and Dr. Ravi Mehrota as the 2017 Hospitality Technology Award of Merit recipients. The three individuals, chosen for his/her unique contribution to hospitality technology, will be recognized at the Opening Keynote of the 45th Annual Hospitality Industry Technology Exposition and Conference (HITEC®) in Toronto, Ontario Canada this month. The Technology Award of Merit is given every five years at HITEC, and was presented in 2002, 2007 and 2012. HFTP created the Technology ...
Glacier House Hotels Installs Aptech’s PVNG Web-Based Enterprise Accounting
Glacier House Hotels | June 14, 2017
Glacier House Hotels Converts Easily from Profitvue to PVNG Enterprise Financial System Visit Aptech in Booth #1211 at HITEC in Toronto JUNE 26-29 at the Metro Toronto Convention Centre PITTSBURGH – June 14, 2017 – Aptech Computer Systems announced Glacier House Hotels completed conversion to the PVNG Enterprise Accounting hotel software system. Arizona-based Glacier House Hotels is a full service development and management company that currently operates six properties. PVNG is Aptech's next generation enterprise accounting hotel software solution that is deployed in the cloud. Aptech is the leading provider of hospitality ...
HFTP Announces Planning Underway for HITEC India, HITEC Asia, and 2018 Club Engagement Conference
HFTP | June 12, 2017
AUSTIN, TX -- Hospitality Financial and Technology Professionals (HFTP®), producers of Hospitality Industry Technology Exposition and Conference (HITEC®), announced today they are laying the groundwork to further globally expand the HITEC brand by also producing HITEC India and HITEC Asia. These educational events, HITEC India and HITEC Asia will follow the tremendously successful HITEC brand that launched in North America in 1972. HFTP's North American version HITEC Toronto, the largest HITEC of 2017, will take place from June 26-29 at the Metro Toronto Convention Centre in Toronto, Ontario Canada. "Expanding HITEC to Indi...
Hospitality Financial Leadership – Why Doesn’t My Director of Finance Step Up?
David Lund | June 12, 2017
By David Lund Your DOF is a great accountant. They do a solid job running the accounting department and they are very efficient. Your monthly financials are timely and overall the accuracy is high. The internal audit reports are very strong and they manage the accounting staff and departmental communications well. What's the problem then? What you really want and what your business really needs is a DOF that's a "financial leader". The kind of DOF that's going to teach and lead the non-financial managers in your hotel. You want the DOF to be as effective with the forecasts and commentaries as they are with the day to day accounting. You...
Sale of Sheraton Metairie – New Orleans Hotel Facilitated by The Plasencia Group
The Plasencia Group | June 6, 2017
Tampa, Fla. (June 6, 2017) – The Plasencia Group is pleased to announce the sale of the Sheraton Hotel located in the New Orleans suburb of Metairie. The firm represented a joint venture of Songy Highroads, JDC Holdings and Aimbridge Hospitality in the sale of the 181-room hotel to Hotel Capital, LLC, a private equity real estate investment firm. Hotel Capital LLC's Chief Executive Officer, Michael Collier, commented on the transaction, "We are very excited to invest in New Orleans which continues to positively transform into more of an international and institutional marketplace for commercial real estate owners while the annual...
Hospitality Financial Leadership – The Russians
David Lund | June 6, 2017
By David Lund When heads of state come to visit your hotel they usually make a bit of a show. The Russians are no exception, they even bring their own warship, the KGB and a wad of cash! I had the pleasure of witnessing the Russian President Dmitriy Medvedev arrival in San Francisco in June of 2010. He flew in the presidential plane, meanwhile his missile cruiser Varyag sailed into San Francisco Bay to accompany his visit. Heads of state often have a ship accompany them on their state visits. The first and previous last time a Russian warship entered San Francisco Bay it was almost 150 years earlier during the American Civil War. The Ru...
StayNTouch, SHR, and Rainmaker Announce Webinar to Optimize Connectivity between Hotel PMS/CRS/RO
StayNTouch | June 6, 2017
June 14th Webinar "Get the Balance Right: Mastering the PMS/CRS/RO Connection in a Changing Economy" offers a guide to maximizing the use and integration of key hotel systems June 6, 2017 – Bethesda – With HITEC quickly approaching, it's time to focus on your hotel's unique areas of opportunity. Join StayNTouch, SHR, and Rainmaker for a special LIVE event on Wed, June 14th at 1pm EDT/10am PDT, dedicated to de-mystifying and optimizing the PMS, CRS, and Revenue Optimization (RO) relationship to your best advantage. Click here to register for the "Get the Balance Right: Mastering the PMS/CRS/RO Connection in a Changing Econom...
Mandarin Oriental Weighing Sale of Hong Kong’s Excelsior Hotel
Avison Young | June 6, 2017
June 06--Mandarin Oriental International announced yesterday that it plans to test market interest in the possible sale of The Excelsior hotel in Hong Kong. The company said the move is part of a review it is undertaking of its long-term strategic options with The Excelsior, which is the group's only property that is not branded as Mandarin Oriental, "in the light of the current strong commercial property valuations in Hong Kong". The company has obtained approval for the development of a commercial building with a gross floor area of some 63,500 sq m on the site of The Excelsior, a prime commercial waterfront site in the ...
You’re Invited to Rethink Your Hotel Technology with ALICE & Duetto
ALICE | June 5, 2017
Join ALICE and Duetto for a pre-HITEC conversation about rethinking your hotel technology. Hotels have invested in numerous technology systems to keep up with all the ways consumers can interact with them in the digital space, but are they set up to win in the future? Between a complex landscape of legacy technology, the abundance of analog operational processes, and a crowded field of providers trying to innovate in the hospitality space, many hotels have arrived at an expensive, inefficient tech stack. But advancements in cloud architecture and mobile technology represent an opportunity to migrate data and systems to an environment th...
HFTP Announces Keynote Speakers and Opening Party for HITEC Toronto
HITEC | June 1, 2017
World's largest hospitality technology exposition and conference adds four recognized innovators to education program Hospitality Financial and Technology Professionals (HFTP®), producer of the Hospitality Industry Technology Exposition and Conference (HITEC®), has added four keynote speakers to this year's education program: Dave Berkus, super angel, author and entrepreneur; Alex Tapscott, CEO at Northwest Passage Ventures; Kevin Rosen, Esq. CIPP/US, partner at Shutts & Bowen, LLP; and Robert Villanueva, executive vice president at Q6 Cyber. Opening Keynote and Party. On Monday, June 26, 2017, Dave Berkus will take the ...
The Rainmaker Group Solves Revenue Management Challenges to Bolster Growth at Westgate Las Vegas
Rainmaker | May 25, 2017
Leading provider of revenue management and intelligence solutions for the gaming and hospitality industry brings total profit optimization to prominent resort and casino property ALPHARETTA, GA – May 25, 2017 – The Rainmaker Group (Rainmaker) has successfully deployed its comprehensive suite of revenue management and business intelligence solutions at Westgate Las Vegas Resort & Casino (Westgate Las Vegas), a popular casino resort that is celebrated for its variety of suites, onsite amenities, customer service and prime location adjacent to the Las Vegas Convention Center. In late 2016, the Westgate Las Vegas team deploy...
HFTP Annual Convention 2017 Online Registration Now Open
HFTP | May 24, 2017
HFTP's 2017 Annual Convention is October 25-27 at the Omni Orlando Resort at Championsgate in Orlando, Florida USA Hospitality Financial and Technology Professionals (HFTP®) has opened online registration for its Annual Convention, which it has produced since 1952. This year's event will offer a variety of educational session lengths, enhanced networking and vendor opportunities as HFTP celebrates its 65th year as an association. Annual Convention will take place from October 25-27, 2017 at the Omni Orlando Resort at Championsgate in Orlando, Florida USA. HFTP Annual Convention full registration attendees will have access to thr...
EB-5 Funding for New Development: JMBM Has Closed More Than $1.5 Billion of EB-5 Financing
Jim Butler | May 23, 2017
By Jim Butler and the Global Hospitality Group® As of January 31, 2017, JMBM's team has closed more than $1.5 billion of EB-5 financing and sourced more than half of that for our clients! EB-5 is a proven means of financing development projects. EB-5 financing is an important and viable source of construction financing for hotels, hotel enhanced mixed-use, and other development projects. Seven or eight years ago, when JMBM started helping hotel developers with EB-5 financing, many worried about whether this is a legitimate and reliable financing source. Now, after billions of dollars of development have been funded with EB-5, this t...
Hospitality Financial Leadership – Share the Financials in Your Hotel or NOT
David Lund | May 22, 2017
By David Lund In your hotel, you either share the financials with you leaders, the department managers or you don't. If you already share the financial statements, you know the power it unleashes with your team and the result it helps to create. If you don't share you're wondering what the management team will think about the money and how much goes to you and the owner. You naively think no one needs to know about the finances in your hotel. You think it's none of their business. You're also pretty sure the team will judge you and your results. You're probably thinking the money is top secret and on a need to know basis. Or maybe y...
HITEC Toronto Entrepreneur 20X Contestants Announced
HITEC | May 22, 2017
HFTP selected 13 hospitality technology startups to compete in the second E20X of 2017 Hospitality Financial and Technology Professionals (HFTP®), producer of the Hospitality Industry Technology Exposition and Conference (HITEC®), is pleased to announce the selected hospitality technology startups that will be participating in the Toronto version of Entrepreneur 20X (E20X). All registered HITEC attendees and exhibitors, including Exhibits Only registrants, are welcome to attend the action-packed pitch competition that will take place on Monday, June 26 from 1:00 to 4:00 p.m. at HITEC Toronto – the world's largest and o...
HFTP International Hospitality Technology Hall of Fame 2017 Inductees Announced
HITEC | May 22, 2017
Greg Dawes and Monika Nerger will be inducted into the Hall of Fame at HITEC Toronto Hospitality Financial and Technology Professionals (HFTP®) is pleased to announce that Greg Dawes and Monika Nerger will be inducted into the HFTP International Hospitality Technology Hall of Fame at the 45th Annual Hospitality Industry Technology Exposition and Conference (HITEC®) in Toronto, Ontario Canada next month. Both were recognized for their generous knowledge-sharing, using their expertise to collaborate with industry professionals outside their organizations to further advance industry practices and move hospitality technology forward...
Hotel News PR Delivers News Releases Directly to Hotel and Travel Media, Influencers, and Top News Sites
Hotel News PR | May 17, 2017
Through preferred partnerships and relationships, centralized online portal helps marketers get their content syndicated to journalists and industry insiders looking for the latest happenings in travel and hospitality TORONTO, CA – (May 17, 2017) Today is the official launch of Hotel News PR, the first-of-its-kind press release distribution service dedicated exclusively to helping brands get their news delivered to thousands of media contacts and industry insiders in the hotel and travel industry. Through engagements with PR Newswire, media monitoring platforms, and leading online outlets, Hotel News PR offers a turnkey way for ho...
EB-5 Extended Without Change: President Donald Trump Signs Bill
Jim Butler | May 17, 2017
By Jim Butler EB-5 extended through September 30 Just after noon on Friday, May 5, 2017, President Donald Trump signed the Consolidated Appropriations Act, 2017. The new law approves $1.1 trillion in Federal appropriations through September 30, 2017. One of the provisions of the bill extends the EB-5 Regional Center program without change through the same date. Although the Consolidated Appropriations Act did not change any provisions of the EB-5 program, we expect further Congressional and regulatory efforts in the very near future. As we said yesterday, Industry leaders view this extension of the program as the necessary threshold t...
Hospitality Financial Leadership – Welcoming Imperfection
David Lund | May 17, 2017
By David Lund To maximize your effectiveness with your leadership team around the money you would be well advised to accept the fact that it's an endless exercise. We must see that the idea of mastering the numbers is elusive. This imperfect reality is comforting and seeing the challenge we have as just another endless mountain to climb is very healthy. It's critical to always remember when we do a budget or forecast for our hotel or our department that the only thing we know for certain is it's wrong. Yes, wrong, it will never be right. Why then do we go through such an exercise if we know it's wrong? The answer is obvious; we ...
Courtyard and Residence Inn by Marriott Sandestin at Grand Boulevard Earns Awards of Excellence
Howard Hospitality | May 16, 2017
Howard Hospitality, a Miramar Beach-based hotel management company, today announced that its hotels received three awards for excellence in operations from Marriott International for the Courtyard and Residence Inn by Marriott Sandestin at Grand Boulevard. At the April 2017 Marriott Select Service Conference in New Orleans, the Residence Inn by Marriott Sandestin won a Silver Hotel Award and the Courtyard by Marriott Sandestin earned a Platinum Hotel Award and the Quality of Food Satisfaction Award. Both hotels were also awarded the 2016 TripAdvisor "Certificate of Excellence" - an achievement solely based on guest reviews. "These award...
Purchase Price Allocations for Hospitality Assets
Tim Sauer | May 10, 2017
By Tim Sauer I recently attended a presentation where the presenter used a hamburger as an analogy for a cost-segregation study. While most people just see a hamburger, he sees a beef patty, lettuce, tomato, cheese, and a bun. That is to say, he doesn't see a single piece of real estate, but numerous smaller assets that comprise the larger asset. The same can be said of a purchase price allocation (PPA). Introduction to Purchase Price Allocations As the name implies, the objective of a purchase price allocation is to allocate the purchase price of an asset to its component parts. Unlike a cost-segregation study, which allocates cost for...
