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
Noble House Plans Summer Launch for Hotel Zoe Fisherman’s Wharf Following $16 Million Renovation and Rebranding
Noble House Hotels & Resorts | March 31, 2017
SAN FRANCISCO (March 31, 2017) – Hotel Zoe Fisherman's Wharf, San Francisco's newest luxury boutique hotel located in the heart of Fisherman's Wharf, will complete a comprehensive $16 million renovation and rebranding with a grand opening scheduled for this summer. Inspired by the luxurious yachts found in exotic ports throughout the Mediterranean, Hotel Zoe Fisherman's Wharf will emerge this summer as San Francisco's newest inviting hotel, offering a unique and luxurious experience to its guests with elements inspired by local partnerships. Conveniently located in the center of Fisherman's Wharf, the 221-guestroom hotel is very c...
Spirides Arranges $7.5 Million Hotel Construction Loan for New Florence, SC Hilton
Spirides Hospitality Finance Company | March 31, 2017
TAMPA, FL—Spirides Hospitality Finance Company has successfully arranged and its client has closed on a $7.5 million senior loan facility from a southeast U.S. headquartered bank to finance the development of a new Hilton Tru Hotel in Florence, SC. The terms of the financing are as follows: The first 18 months during construction will have mortgage payments which are interest only, priced at the prime interest rate plus .50% (currently 4.50%) per annum, adjusted quarterly. Upon completion of construction, the loan payments will convert to a 25 year fully amortizing principal and interest monthly loan payment schedule. The interest rate of t...
The Rainmaker Group to Present Total Revenue Management Approach for Casino Hotels at INFORMS 2017
Rainmaker | March 29, 2017
Market leader in revenue and profit optimization for the gaming and hospitality industry to share how casinos can maximize share of wallet by focusing on total customer value ALPHARETTA, GA – March 29, 2017 – The Rainmaker Group, (Rainmaker) the market leader in profit optimization solutions for the gaming and hospitality industry, is set to present a step-by-step approach to total revenue optimization for casino and gaming properties at the INFORMS 2017 Business Analytics Conference, being held at Caesars Palace in Las Vegas, April 2-4. The informative session, entitled "Vegas Predicts: How the Prophets of Gaming Called the...
Duetto Announces Michael Schäffner as Head of its New Office Germany
Duetto | March 29, 2017
Schäffner to Lead Duetto's Push into the Heart of Europe as the Company's European Growth Accelerates London, March 29, 2017 — Duetto, the market leader in hotel profit optimization technology, announced today that it has appointed to Michael Schäffner to head sales and service in the "DACH" region of German-speaking countries of Europe: Germany, Austria, and Switzerland. Schäffner is based in Munich and can be reached at Schaeffner@duettoresearch.com. The announcement comes as Duetto further accelerates it growth throughout Europe, where its cloud-based Revenue Strategy solutions are already in place at more than 7...
Hospitality Financial Leadership – How Can We Create It Every Day in Our Hotel?
David Lund | March 28, 2017
By David Lund "Leadership is the art of giving people a platform for spreading ideas that work." -Seth Godin I think leadership is about two things that are continuously and endlessly evolving: communication and the development of people including you. Financial leadership is also about the same two processes. If you're the leader of a nation, an army or a company, you need people to understand you and you need to understand them. Your constituents must be able to hear your message clearly and your message needs to resonate with them to allow them to follow you and do great things. Being compassionate, listening to the need...
Hotel Lawyer: What’s Happening with EB-5 Financing for New Development Projects? Is it Still Available?
Jim Butler | March 27, 2017
By Jim Butler and the Global Hospitality Group® 27 March 2017 Unless Congress acts in time, a critical part of EB-5 financing will lapse on April 28, 2017 The Regional Center program was enacted in 1992 as a "pilot project." Since then, it has been renewed or extended many times by Congress, with the current extension due to sunset April 28, 2017. Combined with some negative comments by a few foes of the program, some have begun to wonder out loud if the end of EB-5 financing is near. And, if Congress does not act soon, it would have a serious impact on the program. Important people, is an important part. What will likely happen if ...
HFTP Launches New Multi-Event Mobile App for Expanding HITEC Brand
HITEC | March 23, 2017
Download the new HITEC App in the Apple and Google Play stores today by searching for "HITEC 2017" AUSTIN, TEXAS (March 23, 2017) – Gearing up for its first Hospitality Industry Technology Exposition and Conference (HITEC®) of 2017, Hospitality Financial and Technology Professionals (HFTP®) is excited to announce the launch of its new HITEC 2017 multi-event mobile app – an additional benefit to tailor individual experiences for HITEC attendees. Available for download from the iTunes Apple Store and Google Play, the app will serve as a comprehensive guide for information on education sessions and exhibits wh...
Paramount Lodging Advisors Welcomes Managing Directors Andy Wardner and Brian Guernier
Paramount Lodging Advisors | March 22, 2017
Paramount Lodging Advisors (PLA) is delighted to announce Andy Wardner and Brian Guernier as PLA's newest Team Members. Andy Wardner is the Managing Director of the new PLA office in Atlanta. Prior to joining PLA, Andy was a Vice President with Starwood Capital Group where he oversaw the full investment cycle and asset management responsibilities of SCG's portfolio of North American full-service hotels. Over his 15 year career with SCG, Andy was involved in the successful acquisition and disposition of over $3 billion in real estate transactions and over $1 billion in debt placement or refinancing. Brian Guernier is the Managing Directo...
HFTP’s HITEC Amsterdam High Pre-Registration Count Illustrates Hospitality Vitality – Stakeholders’ Support for the Industry
HITEC | March 22, 2017
With the 600+ pre-registered attendees for next week's inaugural HITEC Amsterdam, Hospitality Financial and Technology Professionals (HFTP®) is interpreting the strong interest as a sign of vitality for the hospitality industry and its stakeholders. In 2017, HFTP expanded its stakes in its 45-year Hospitality Industry Technology Exposition and Conference (HITEC®), by adding two boutique events in hospitality-strong regions to complement the larger, North American HITEC that runs annually in June. The first of three HITECs in 2017 is HITEC Amsterdam, March 28-30 at the RAI Amsterdam Convention Centre, with pre-registration al...
Irvine Company Resort Properties Achieves YOY Revenue Growth with Portfolio-Wide Implementation of Revenue Management Solutions by The Rainmaker G
Rainmaker | March 22, 2017
Prestigious independent hotel group bolsters both revenue management results and processes with solutions from industry leader in total profit optimization ALPHARETTA, GA – March 22, 2017 – Irvine Company Resort Properties, the hospitality division of real estate development company, The Irvine Company, has successfully implemented advanced revenue management solutions from The Rainmaker Group (Rainmaker) across its portfolio of luxury hotels and resorts in southern California. The internationally renowned real estate development company has deployed Rainmaker's guestrev® and grouprev® solutions to optimize both tran...
Avison Young Hospitality Group Spotlights Victor Kalyanji and Wendy Blissett
Avison Young | March 20, 2017
Avison Young Hospitality Group is pleased to highlight Victor Kalyanji and Wendy Blissett, who are located in the Avison Young Atlanta office. Kalyanji, a senior hospitality broker in the capital markets group, has more than a decade of experience in hotel ownership, development and management. In his current role, he is focused on single asset and portfolio sales. Prior to joining the hospitality group, he owned and operated independent and franchised hotels in, Alabama, Georgia, Illinois and Ohio. He is a graduate of the University of Cincinnati and a member of the Asian American Hotel Owner's Association (AAHOA). Originally from Ohio...
F TAR W – The Secret Recipe for Creating Financial Leadership in Your Hotel
David Lund | March 14, 2017
To get your non-financial managers to play ball with their numbers in your hotel you need a system that they can follow, a sort of road map they can use to stay on track every month. Teach them this and you will have an engaged team that buys into playing their financial part. F TAR W is a step by step process you can teach your leaders to follow. I have clients who use a white board or a scoring sheet and they display the monthly results. How? They list the leaders who have P&L responsibility down the left-hand side of the sheet and across the top they have 5 columns; Forecast, Track, Adjust, Review and Write. One client even calls...
Aptech Computer Systems Launches New Service-Focused Website
Aptech Computer Systems, Inc. | March 14, 2017
Site Personalizes Client Relationships; Spotlights People, Services, and Hotel Software Solutions PITTSBURGH – March 14, 2017 – Aptech Computer Systems is the leading provider of hotel software for business intelligence, budgeting, and enterprise financial accounting. It is a family business that was started over 45 years ago. "We have a personal commitment to our clients and the hospitality industry." "We have a personal commitment to our clients and the industry to represent the best solutions and provide the most exceptional customer service available," said Jill Wilder, Aptech vice president. New Website Offers a Perso...
Duetto to Provide Revenue Strategy Solutions for Mexico’s Brisas Group
Duetto | March 14, 2017
Luxury Resort and Downtown Hotels Embrace Game-Changing Revenue Strategy Solutions to Spur Efficiencies, Growth San Francisco, March 14, 2017 — Duetto, the market leader in hotel profit optimization technology, announced today that it will implement its cloud-based Revenue Strategy application, GameChanger, for Brisas Group, a fast-growing owner of luxury properties in key markets in Mexico. Duetto's GameChanger solution is already in place at the company's 274-room NIZUC Resort and Spa, Cancun, and the 434-room Galeria Plaza Reforma, Mexico City. "We are very happy to announce this partnership with Brisas Group, a forward-looking...
HFTP Announces HITEC Dubai, Extension of World’s Largest Hospitality Technology Event
HITEC | March 9, 2017
Save the date for November 14–15, 2017 AUSTIN, TEXAS (March 9, 2017) — Building on the expertise of planning and producing the world's largest hospitality technology show, Hospitality Financial and Technology Professionals (HFTP&rreg;), producers of Hospitality Industry Technology Exposition and Conference (HITEC®), will host its inaugural HITEC Dubai from November 14–15, 2017 at the Conrad Dubai in Dubai, UAE – the center of the fast-developing markets of Asia and The Middle East. Produced in partnership with Naseba, HFTP's HITEC Dubai will serve as the association's third, and final, HITEC of 20...
The Rainmaker Group Introduces Group Forecasting to Enhance Revenue Management and Group Business Pricing Solutions
Rainmaker | March 8, 2017
Leading provider of hotel revenue and profit optimization solutions augments product suite with new tool designed to project future group business demand ALPHARETTA, GA – (March 8, 2017) – The Rainmaker Group (Rainmaker), the market leader in profit optimization solutions for the gaming and hospitality industry, today announces the official launch of a major enhancement to its grouprev® and guestrev® solutions, adding automated group forecasting capabilities to the platform. An industry first in revenue management, the addition of group forecasting to existing Rainmaker solutions provides the unique ability to projec...
Hospitality Financial Leadership – A “RelationShift”
David Lund | March 7, 2017
By David Lund That's right, your eyes and my fingers have not failed, I wrote the word on purpose "relationshift" and I got this word from my coach, Steve Chandler. He wrote a book with Michael Bassoff called relationshift and its about fundraising and fundamentally changing the relationship between fundraisers and donners. To sum it up in one sentence, the book is about fundraisers outgiving the donners and showing the donner that they make a difference, both the donner makes a difference and their money made a difference too. Creating financial leadership in your hotel has the same fundamental relation shift at its roots. The traditio...
Sonnenblick-Eichner Company Arranges $41,000,000 of First Mortgage Financing for Hotel Eastlund, Portland, Oregon
Sonnenblick-Eichner Company | March 7, 2017
Beverly Hills, California – March 7, 2017 – Sonnenblick-Eichner Company has arranged $41,000,000 of first mortgage financing for Hotel Eastlund located in Portland, Oregon. The financing was a non-recourse, 10-year fixed rate loan provided by an international money center bank. Elliot Eichner, Principal of Sonnenblick-Eichner Company commented, "The hotel recently completed an extensive renovation and rebranding and had limited operating history at the time of the closing of the new loan. By underwriting the most recent trailing 12-month cash flow, we were able to maximize loan proceeds. We were also successful in negotiatin...
Best Western’s Pipeline Nearing 500 Properties Worldwide
March 6, 2017
Berlin, Germany – March 6, 2017 – Best Western® Hotels & Resorts today revealed a development pipeline of close to 500 properties, placing a strong focus on key international markets.The company currently has 239 international locations underway and another 224 in North America – 60% of which are new-builds. "It is evident that Best Western continues to provide exceptional value to our owners and developers around the world, as we see interest in our diverse portfolio of brands continuing to grow," said Suzi Yoder, senior vice president of international operations for Best Western® Hotels & Resorts. "It...
Duetto to Provide Revenue Strategy Solutions for Ruby Hotels & Resorts
Duetto | March 6, 2017
Luxury Hotel Innovator Leverages Cloud-Based Price Optimization Capabilities for Key Markets in Germany and Austria Berlin, March 6, 2017 – Duetto, the market leader in hotel profit optimization technology, announced today that it will implement its cloud-based Revenue Strategy application, GameChanger, for Ruby Hotels, a disruptive developer and operator of luxury hotels in key markets in Germany and Austria. Under the agreement, Duetto will provide unprecedented market intelligence and the benefits of Open Pricing to help Ruby Hotels better understand customer behavior, build and sustain direct business, and achieve price optimi...
Do Your Hotel Financial Statements Pass the Test? Part 1
David Lund | March 1, 2017
Do your hotel financial statements give you the information you need to effectively run your business? Are you able to see if your profits are where they should be in an enhanced top line statement? Do your statements measure flow thru? Do you record your rooms business by proper segments and track the rooms occupied, rate and revenue in each segment? Do you record customers served in F&B and do you separate meal periods? Do you record liquor, beer, wine and mineral sales on your financials separately? Do you measure labor productivity in your financials? Do you record hours of work in your financials? Do you have payroll segmented ...
Enough Room for Everyone? How Hotels are Meeting the Airbnb Challenge
Alan E. Young | March 1, 2017
By Alan E. Young, Co-Founder and President of Puzzle Partner Everybody has a place to live. And thanks to Airbnb and other rent-by-owner sites, everybody can turn their spare room into a moneymaking short-term rental. In the taxi industry, this sharing model let Uber crush the cab companies. The situation isn't that dire for hotels, yet; consumers are more likely to take a chance on an unknown provider for a 15-minute car ride than for a five-night stay. That doesn't mean hotels don't have to take the new competition seriously, however. Airbnb's $30 billion valuation is now larger than that of any of its hotel competitor...
HFTP Continues to Build its Global Presence with First Membership Event in London Next Month
HFTP | February 28, 2017
Expanding its global scope, Hospitality Financial and Technology Professionals (HFTP®), a leading hospitality association and producers of the world-renowned Hospitality Industry Technology Exposition and Conference (HITEC®), will host a membership event for HFTP members and prospective members in London for the first time on Monday, 6 March 2017 at the prestigious Rosewood Hotel London – named "Best UK Business Hotel 2016" by Condé Nast Traveler (UK) at last year's Readers' Travel Awards. The program, sponsored by Keystep, a specialist provider of IT solutions to the hospitality and retail sector,...
The Rainmaker Group Announces Sale of Multifamily Housing Assets to RealPage, Inc.
Rainmaker | February 28, 2017
ATLANTA, GA – February 27, 2017 (4:15 p.m. EST) – The Rainmaker Group, a premier provider of profit optimization and revenue intelligence solutions to the hospitality and gaming industries, announced today that it has agreed to sell its Rainmaker LRO multifamily housing business and product portfolio to RealPage, Inc., a Richardson, Texas-based global provider of software and data analytics to the real estate industry. "This is a win-win for both our LRO and hospitality customers," said Tammy Farley, president of the Rainmaker Group. "We're obviously proud of our LRO successes over the past decade and this combining of two p...
