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
Pebblebrook Hotel Trust Names the 5th Annual Pebby Award Winners
Pebblebrook Hotel Trust | February 27, 2017
HOLLYWOOD, Calif.--Pebblebrook Hotel Trust (NYSE: PEB) (the "Company") today announced the winners of its fifth annual Pebby Awards. The Pebby Award winners were chosen for their outstanding accomplishments in 2016, as determined by the Company. "These awards highlight the extraordinary leadership and commitment to excellence by our hotel management teams and their continued success exhibited in 2016," noted Jon Bortz, Chairman, President and Chief Executive Officer of Pebblebrook Hotel Trust. "Although the competition was remarkable this year, these award winners, working closely with our asset managers, accomplished outstanding result...
Pebblebrook Hotel Trust Reports 2016 Yearly Net Income of $74 Million, Down from $95 Million; Yearly RevPAR Grew 2.4%
Pebblebrook Hotel Trust | February 24, 2017
BETHESDA, Md.--Pebblebrook Hotel Trust (NYSE: PEB) (the "Company") today reported results for the fourth quarter and year ended December 31, 2016. The Company's results include the following: Fourth Quarter Full Year 2016 2015 2016 2015 ($ in millions except per share and RevPAR data) Net income $18.4 $23.0 $74.0 $95.0 Same-Property RevPAR(1) $191.99 $191.94 $211.28 $206.31 Same-Property RevPAR growth rate 0.0% 2.4% Same-Property Wholly Owned EBITDA(1) $59.6 $59.4 $280.3 $268.3 Same-Property Wholly Owned EBITDA growth rate 0.3% 4.5% Same-Property Wholly Owned EBITDA Margin(1) 32.3% 32.1% 35.3% 34.7% Adjusted EBITDA(1) $57.7 $64.4 $273.2...
HITEC Toronto Exhibit Space is Officially Sold Out
HFTP | February 22, 2017
Booth space for HITEC Toronto sold out faster than ever before in HITEC's 45-year history Global hospitality association Hospitality Financial and Technology Professionals (HFTP®), producers of the world's largest hospitality technology conference Hospitality Industry Technology Exposition and Conference (HITEC®), is pleased to announce its exhibit space for HITEC Toronto is officially sold out. A waiting list is available on a first-come, first-served basis for booth space – an updated floor plan is available on the HITEC Toronto website. HFTP's HITEC Toronto is the second, and largest, of three HITEC events plann...
The How To vs. The Want To – Creating Financial Leadership In Your Hotel
David Lund | February 22, 2017
By David Lund The business of managing the hotel finances is not terribly technical or complicated. What makes it challenging is that it's usually a very large job involving many people. In a 500-room hotel, you can easily have 20+ forecast contributors. The communication system in the hotel is the key to both smooth management and predictive financial results. This is the how to. If hotel finances are not a complicated matter, then why is it such a challenge in so many hotels? The answer lies in finding the want to. Most leaders in the hotel don't naturally want to be managing numbers. They typically didn't get into the hotel business ...
Hospitality Financial Leadership Recipe – Owners, Not Victims Please
David Lund | February 20, 2017
By David Lund Being a financial leader means you own the result. There is no room for being a victim or victim thinking when it comes to leading the financial piece. The challenges demand the type of ownership that takes each situation and finds the opportunity in it. "A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty." Winston Churchill Winning at the hospitality financial leadership game is something that requires the correct perspective. To desire perfection in this realm is not wise. To look for and nurture constant improvement and individual effort is the telltale sign of pro...
Moderate Growth Continues in the Hotel Construction Pipeline with Projects Up by 12% YOY
Lodging Econometrics | February 16, 2017
February 16, 2017 – PORTSMOUTH, NH – According to the year-end United States Construction Pipeline Trend Report from Lodging Econometrics (LE), the Total Construction Pipeline ended 2016 with 4,960 Projects/598,688 Rooms, up 12% by projects and 10% by rooms Year-Over-Year (YOY). Q4 2016 is the 19th consecutive quarter of pipeline growth, since the cyclical bottom of 2,720 Projects/331,129 Rooms reported in Q1 2012. At year-end, there were 1,520 Projects/196,409 Rooms Under Construction, up by 208 projects YOY or 16%. Projects Scheduled to Start in the Next 12 Months, at 2,392 Projects/268,843 Rooms, were up 466 projects, 24%...
Puzzle Partner Signs Hotel Technology Innovator hospitalityPulse™ as New Client
Puzzle Partner | February 15, 2017
Marketing agency focused exclusively on complex B2B initiatives for the travel and hospitality technology industry continues to expand roster of top-tier clients and strategic partnerships TORONTO, ON (February 15, 2017) – Leading B2B travel and hospitality technology marketing agency Puzzle Partner announced today that it has been named agency of record (AOR) for hospitalityPulse, the innovative hotel technology company based in Santa Cruz, California. Puzzle Partner will support hospitalityPulse through strategic and tactical marketing initiatives, including messaging, communications, public relations, and content development. A...
nSight for IDeaS™ Helps Hoteliers Drive More Profitable Bookings by Tapping Forward-Looking Travel Intent Data
nSight | February 15, 2017
First-to-market revenue management solution provides exclusive access to travel intelligence and online demand data to give hoteliers an unseen competitive advantage MINNEAPOLIS – February 15, 2017 – When it comes to forecasting hotel booking behaviors in order to maximize revenue strategy, more data is better than less. That's why IDeaS Revenue Solutions and nSight Travel Intelligence have teamed up to offer hoteliers a new experience in revenue management that allows managers to "futurecast" inventory demand based on a rich set of data points never before available on a single technology platform. With access to both nSig...
The Old 80/20 Rule – OTA’s – And How a Corporate Sales Manager Can Save Your Hotel 100K
David Lund | February 14, 2017
By David Lund I had a wonderful discussion with a hotel sales manager last week about a new hotel reservation platform that does not include any stops at an on-line travel agent, OTA. The sales manager explained to me that her mid-sized hotel did a couple of million dollars in corporate IT sales and that represented just over 12,000 room nights. She went on to explain that the room nights were generated by close to 100 corporate contracted companies. These companies ranged in volume from a dozen room nights per year to the top of the list where a handful of companies were in the 1000 room nights per year category. The 80/20 rule is also...
Avison Young Hospitality Group Announces Recruiting Initiative
Avison Young | February 13, 2017
Firm looking to add talent in the United States and Canada February 13, 2017 ATLANTA – Avison Young, the world's fastest-growing commercial real estate services firm, announced today that its newly formed hospitality group is planning rapid expansion in the United States and Canada. The Hospitality Group, currently comprised of 21 US brokers, has 190 hotels on the market, totaling $3 billion. Since Avison Young announced the purchase of Atlanta-based Hotel Assets Group (Hotel AG) last month, the group has added new brokers in Washington D.C. and expects to add several experienced brokers throughout the United States in the immedia...
HFTP is Now Accepting Applications for Entrepreneur 20X at HITEC Toronto
HFTP | February 9, 2017
HFTP is bringing back its cut-throat pitch competition for technology startups to the world's largest hospitality technology event Hospitality Financial and Technology Professionals (HFTP®), producers of Hospitality Industry Technology Exposition and Conference (HITEC®), is now accepting applications to participate in the successful Entrepreneur 20X (E20X) event at HITEC Toronto. Hospitality technology startups who would like to apply for the exciting opportunity can do so by visiting the event website – past applicants and winners are welcome to come back as long as they are considered Series A or a startup. The competiti...
Duetto to Provide Revenue Strategy Solutions for easyHotel
Duetto | February 8, 2017
Game-Changing Price Optimization and Revenue Intelligence Capabilities for 24 Hotels Encompassing Close to 2,500 Rooms in Markets across Europe London and New York, February 8, 2017 – Duetto, the market leader in hotel profit optimization technology, announced today that it will implement its cloud-based revenue strategy solutions, GameChanger and Scoreboard, for easyHotel plc (AIM:EZH), the owner, developer, operator and franchisor of "super budget" branded hotels in European gateway markets. The agreement comes as easyHotel expands its portfolio of company owned and franchised properties quickly across Europe. "We are ...
Begin With the End in Mind – Creating a Finically Engaged Leadership Team in Your Hotel
David Lund | February 8, 2017
By David Lund Creating a finically engaged leadership team in your hotel is no different than creating a strong guest service culture or a team that has colleague and leader engagement as their mission. What you attend to grows, it's that simple. What's different with the finances is you and your focus. The picture you want to create needs to be clear and you need to have a plan to follow and resources to employ to create financial leadership. It's no different than guest service or colleague engagement. We would not expect these two disciples to grow and prosper in our hotel on their own, no, we recognize that these require constant at...
Lightstone Installs Aptech’s Execuvue® Business Intelligence
Lightstone | February 8, 2017
Developer with $2B portfolio in 26 states analyzes performance data, delivers reports to investors and management. PITTSBURGH – February 8, 2017 – Aptech Computer Systems announced that Lightstone, a national real estate investor/developer, installed Aptech's Execuvue Business Intelligence System. Lightstone broad hospitality portfolio operates more than 3,800 keys in 7 states. Its current portfolio emphasizes select services hotels, branded by Marriott, Hilton, IHG, and Starwood. Aptech is the leading provider of hotel software for business intelligence, budgeting, and enterprise financial accounting. Click here for more o...
Avison Young Hospitality Group Announces Hilton Garden Inn Sale
Avison Young | February 8, 2017
Michael Bernath Andrew Broad ATLANTA – February 8, 2017 – Avison Young's newly formed hospitality group announced today that it advised on the sale of a Hilton Garden Inn in the Midwest region of the United States. The seller was an institutional hospitality platform based in the Southeast and the buyer was a West Coast-based family office. Michael Bernath and Andrew Broad, senior hospitality brokers, represented Avison Young in the transaction. "The sale of Hilton Garden Inn represents a general flight to quality that we are seeing in today's transaction market," said Bernath. "The seller was able to realize a strong retu...
Puerto Rico’s Landmark El San Juan Hotel Reopens Following $60 Million Renovation; Joins Curio – A Collection by Hilton
IMPRINT Hospitality | February 7, 2017
SAN JUAN, Puerto Rico and MCLEAN, Va. - El San Juan Hotel, a landmark luxury, lifestyle and entertainment property in Puerto Rico, has joined Curio - A Collection by Hilton. As Hilton's (NYSE: HLT) rapidly-expanding global collection of distinctive upper upscale hotels, Curio caters to passionate travelers seeking local discovery and authentic experiences. Asset managed by LEÓN, MAYER & Co., who is also a co-owner of the hotel, and co-managed by IMPRINT Hospitality and Aimbridge Hospitality, the 388 guest room hotel marks the first property in Puerto Rico for Curio - A Collection by Hilton. "With the reopening today ...
HITEC Toronto Online Registration and Housing Bureau Open Now
HFTP | February 6, 2017
HFTP's HITEC Toronto is June 26–29, 2017 at the Metro Toronto Convention Centre in Toronto, Ontario Canada Hospitality Financial and Technology Professionals (HFTP®), producers of Hospitality Industry Technology Exposition & Conference (HITEC®), has announced that attendee registration for its HITEC Toronto is now available online. Also available on the HITEC Toronto website is information on travel and hotel reservations. HITEC is the world's largest hospitality technology exposition and conference, and this year will be HFTP's 45th anniversary since it produced its first HITEC event in 1972. HITEC Toronto is...
The Third Pillar – the Financial Pillar and What You Can Do to Make It an Equal
David Lund | January 26, 2017
By David Lund In the hotel business, we have three pillars, the guests, the colleagues and the money. They're not equal. They're not equal because we ignore the third pillar and we do so at our own peril and out of ignorance to what we can do to manage this cagey and slippery bugger. There is a fundamental disconnect in our industry, and it's high time it changed. It's no longer acceptable to throw our hands up in the air and say the numbers are the accounting department's responsibility as if the rest of us are 5-year old's without a clue what to do. If you're one of those it's time to move and get some financial leadership game on. Th...
Pebblebrook Hotel Trust Reveals the 5th Annual Pebby Award Nominations – Recognizing the Year’s Best Hotels
Pebblebrook Hotel Trust | January 24, 2017
HOLLYWOOD, Calif.)-- Pebblebrook Hotel Trust (NYSE: PEB) (the "Company") today announced the nominations for its Fifth Annual Pebby Awards. The Pebby Award nominees were chosen for their outstanding accomplishments in 2016, as determined by the Company. Sofitel Philadelphia earned five Pebby nominations this year, followed closely by The Westin San Diego Gaslamp Quarter with four nominations. Both hotels are up for the Company's top hotel honors of Best Picture, establishing the selection of this year's winners as one of the most highly anticipated award ceremonies of the season. "2016 marked one of the most competitive nomination p...
HFTP’s Hospitality Financial Comparison Database, GHACP, Seeks Additional Global Participants
HFTP | January 24, 2017
HFTP continues development of world's first global hospitality industry financial comparison database The Global Hospitality Accounting Common Practices (GHACP) is a valuable tool that provides users a way to compare global hospitality accounting practices from five different countries, plus the Uniform System of Accounts for the Lodging Industry (USALI), 10th and 11th editions. Developed by Hospitality Financial and Technology Professionals (HFTP®) and released in Fall 2014, the association continues to build this important resource and is now reaching out for input to expand the database. To further provide the useful data found i...
Fifth Annual Revenue Strategy Summit (RSS) Slated for July 26, 2017 at the Renaissance Washington, D.C. Downtown Hotel
the Revenue Strategy Summit (RSS) | January 23, 2017
Innovators Will Gather to Discuss Profitability, Loyalty, Disruption in the Hotel Industry Washington, D.C. — January 23, 2017 — Hotel industry innovators and thought leaders will converge on Washington, D.C., for the fifth annual Revenue Strategy Summit (RSS) on July 26, 2017. The annual event examines the forces reshaping the hospitality industry and how marketing and technology can evolve to meet these new challenges. RSS 2017 will be held at the Renaissance Washington, D.C. Downtown Hotel. "Now for five years running, RSS has become the undisputed laboratory for new ideas shaping the future of hospitality," said Patrick...
Avison Young Acquires Atlanta-Based Hotel Assets Group, LLC
Avison Young | January 17, 2017
With purchase, commercial real estate firm launches new hospitality service line; 25 members join, Keith Thompson becomes Principal Toronto, ON – Mark E. Rose, Chair and CEO of Avison Young, the world's fastest-growing commercial real estate services firm, announced today that it has acquired Atlanta-based hotel real estate brokerage company Hotel Assets Group, LLC (Hotel AG). With the purchase, Avison Young launches a new hospitality group that will operate nation-wide in the U.S. Effective immediately, Hotel AG is rebranded as Avison Young. Twenty-five new members, including 20 brokers, join the company. Keith Thompson, Brad Si...
ADA Defense Lawyer on Hotel Mixed Use: Tenants Not Liable for Common Areas
Marty Orlick | January 16, 2017
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Author of www.HotelLawBlog.com ADA Hospitality Defense and Compliance Lawyer: Hotel mixed-use projects have proliferated over the past decade or two — projects that combine a hotel with retail, residential, entertainment, office and other uses. In recent years, many of these projects combine hotel and shopping center elements. We are big fans of hotel mixed-use. Over the years, we have written about the numerous advantages that accrue to both hotels and shopping centers, when hotels are added to the right shopping or retail center. One study showed that the right ...
What to Expect from Global Hospitality Association HFTP in 2017
HFTP | January 13, 2017
AUSTIN, TEXAS, USA (January 13, 2017) – Hospitality Financial and Technology Professionals (HFTP®), producers of Hospitality Industry Technology Exposition & Conference (HITEC®), has widely extended its global reach for this upcoming year. With leading industry events spanning three separate continents, five inaugural events and three new Digital Learning Day additions, HFTP has largely increased its scope of hosted events in 2017. "It has been exciting to watch the rapid growth and progression of the association," said Frank Wolfe, CAE, CEO of HFTP. "We are looking forward to what lies ahead – wit...
