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
2017 Commercial Real Estate Lending Predictions
Brian Holstein | January 13, 2017
By Brian Holstein The commercial real estate lending markets started 2016 slow and choppy and spent the rest of the year making up lost ground. Volume was down, but available for good deals; rates and spreads were accommodative, even with the year-end Treasury rate spike; defaults rose slightly, but not alarmingly and banks and life insurance companies picked up market share at the expense of CMBS lenders. This year, the debt markets will face their own set of unique and unprecedented challenges, but the picture remains rosy. Wall of Maturities Much has been made about the so-called "Wall of Maturities" in 2017, which is largely the re...
Future of Risk Series: Reputation Risks Accelerate and Amplify
Nancy Albinson | January 12, 2017
By Nancy Albinson, Andrew Blau and Yang Chu In today's hyper-connected world dominated by mobile devices, social media, and evolving expectations from society, information can spread like wildfire. This convergence of mobile and social media is intensifying the impact of reputation risks for organizations and is driving them to fundamentally rethink their approaches to risk management and proactively address these accelerated, amplified risks. What forces are driving this trend? Social media is creating a more connected, networked world where information is rapidly amplified Disruptive mobile technologies are ushering in a new era of ...
What Hotels Can Learn From the Airbnb CEO’s Twitter Exchange about What Guests Want
ALICE | January 11, 2017
When Airbnb's CEO asked his Twitter community for their Airbnb product wish list, what he got was a comprehensive look at what guests want from lodging today. by Alex Shashou When Airbnb CEO Brian Chesky asked his Twitter followers for Airbnb product recommendations in the late hours of Christmas day, Chesky said he expected about 10 people to respond. Instead, some 2,200 people offered their suggestions, with product recommendations still coming in. Chesky spent the rest of the 25th, and then many hours on subsequent days, responding to input from users. The Airbnb CEO facilitated a wide-ranging conversation about short and longer-ter...
HITEC Amsterdam Online Registration Open Now – Secure Your Spot Today
HFTP | January 10, 2017
HFTP's Inaugural HITEC Amsterdam is 29–30 March 2017 at RAI Amsterdam Convention Centre in Amsterdam, The Netherlands AUSTIN, TEXAS, USA (January 10, 2017) – Hospitality Financial and Technology Professionals (HFTP®), producers of Hospitality Industry Technology Exposition & Conference (HITEC®), has announced that attendee registration for its inaugural HITEC Amsterdam is now available online. Also available on the HITEC Amsterdam website is information on travel and hotel reservations. HITEC is the world's largest hospitality technology exposition and conference, and has extended its reach even further with its...
Kasikci’s Bentley Management Opens 2017 with New Directions, Clients and Projects
Jim Butler | January 4, 2017
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Author of www.HotelLawBlog.com Recently, I had a delightful year-end lunch at the SoHo House with a remarkable man I have known and worked with about 25 years. I am very proud to call him my friend and include him amongst our "celebrity clients." When I first met this hotelier, he had recently left Four Seasons Newport Beach, and taken over the helm of the newly opened Beverly Hills Peninsula Hotel. With a hands-on intensity, he quickly turned around the financial performance at the hotel, earned the elusive 5 stars and 5 diamonds, and made the hotel the most profitable...
D’Ambra Construction Co. Gains Approval for Development of $20 Million, 120-room Hyatt Place Hotel in Warwick, RI
January 4, 2017
Jan. 04--WARWICK, R.I. -- The inauguration of city officials Tuesday night was marked by pomp and circumstance and included an announcement of approvals of a new hotel on Jefferson Boulevard. Mayor Scott Avedisian announced that D'Ambra Construction Co. has received all the approvals from the Rhode Island Commerce Corporation for a 120-room Hyatt Place Hotel on the boulevard near the airport, a more than $20-million project. The hotel project had received preliminary approvals in June. A groundbreaking ceremony is expected to take place toward the end of the month, said press secretary Courtney Marciano. Avedisian's choice of ve...
Hotel AG Announces Recent Closings
Hotel AG | December 27, 2016
ATLANTA – December 28, 2016 – Hotel AG announced today that in December the firm closed 5 hotel transactions located mostly in the central US. The sales included a Residence Inn, Hilton Garden Inn, Courtyard by Marriott, Holiday Inn and a Hawthorn Suites in Texas. Chris Stark, a partner with the firm, remarked, "The volatility in the hotel transaction markets seem to have stabilized post-election. These recent sales represent a sharp back to retail pricing. We as a firm are encouraged that this cycle is showing signs of lengthening as the health of the market improves." ...
El San Juan Hotel to Join Curio – A Collection by Hilton Following Multi-Million Dollar Renovation
December 22, 2016
SAN JUAN, Puerto Rico – December 22, 2016 – El San Juan Hotel is pleased to announce that it will open its doors as part of Curio – A Collection by Hilton TM to travelers and locals alike on February 5th, 2017. Following a property-wide multi-million-dollar renovation, one of the most extensive completed at the property since its inception in 1958, the highly anticipated reopening will debut the majority of the updates made to the iconic San Juan property. The new look designed by Jeffery Beers, one of the top hotel and restaurant designers in the world, will include completely remodeled guest rooms, a new pool, 22 lux...
Paramount Lodging Advisors (PLA) Thrives in the Pittsburgh Area Market
Paramount Lodging Advisors | December 22, 2016
Paramount Lodging Advisors (PLA) is pleased to announce the sale of the SpringHill Suites Pittsburgh West Mifflin and Comfort Inn & Suites Pittsburgh RIDC. PLA exclusively represented the seller on both deals with Associate Omari Head and Managing Directors Brent Clemens and Bennett Webster leading the efforts on the nearly 320 combined rooms across the two assets. The two deals mark PLA's fourth and fifth consecutive successful engagements in the Pittsburgh area in 2016. "Despite a slight dip in area performance, we were pleasantly surprised with the buyer turnout and remain bullish on broader Pittsburgh area demand," noted Head. C...
An Insider’s Irreverent Guide to Travel in 2017
Alan E. Young | December 21, 2016
By Alan E. Young, Co-Founder and President of Puzzle Partner It's been a heck of a year, hasn't it? Most of us are ready to say a big Sayonara! to the hangover that 2016 has become. But really, on the whole, the travel industry had a pretty solid year. While next year doesn't register signs of dramatic growth in the number of travelers, it does appear that travelers will spend more when they do travel.[1] Capturing that revenue will be more important than ever with the uncertain political and economic landscapes. Here's where the opportunities are in 2017 to grab some of that market share: "Get the heck out of dodge" takes on a new mean...
EB-5 Financing for Developers Extended. Obama Signs “Continuing Resolution”
Jim Butler | December 20, 2016
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Author of www.HotelLawBlog.com 20 December 2016 On December 9, 2016, President Obama signed the "Continuing Resolution" passed by Congress to extend funding of the federal government until April 28, 2017, by which time it is expected that Congress will have approved a budget for the full fiscal year. EB-5 Regional Center program also extended to April 28, 2017 As with several prior budget extensions, the Continuing Resolution included an extension of the EB-5 program's Regional Center provisions, validating expectations of industry experts. This means that developers wh...
HSMAI Names Top 25 Extraordinary Minds in Hospitality Sales, Marketing, & Revenue Optimization for 2016
HSMAI | December 13, 2016
The Hospitality Sales & Marketing Association International (HSMAI) is proud to announce its 2016 honorees for The HSMAI Top 25: Extraordinary Minds in Hospitality Sales, Marketing, Revenue Optimization. The hospitality and travel industry requires creative thinkers and innovators. The HSMAI Top 25 honors these top achievers in sales, marketing, and revenue optimization of hospitality, travel and tourism organizations for their accomplishments in the preceding 18 months. HSMAI will honor The HSMAI Top 25 in conjunction with the Adrian Awards Dinner Reception and Gala on February 21, 2017, at the New York Marriott Marquis, and in a p...
American Liberty Hospitality Makes Owner Profitability Job One
American Liberty Hospitality | December 12, 2016
Family Owned Operator Puts Leading Edge Financial Management Tools to Work for Stronger Property Performance PITTSBURGH – December 12, 2016 – Nick Massad, Jr. and his wife Vicki purchased American Liberty Hospitality 26 years ago on a foundation of service to its owners and investors. They worked hard, hired good people and treated every penny as if it were their own. Today American Liberty Hospitality (ALH) operates 20 properties with Hilton, IHG and other flags in Texas and Louisiana. The company is a real American success story. Nick Massad, Jr. started in the hotel business as a bellboy to help put himself through colleg...
Pebblebrook Hotel Trust and Noble House Complete $6 Million Renovation of LaPlaya Beach & Golf Resort
LaPlaya Beach & Golf Resort | December 8, 2016
NAPLES, Fla. (December 8, 2016) – LaPlaya Beach & Golf Resort, a Noble House Resort located on the idyllic Naples beachfront, is pleased to announce the completion of a $6 million renovation, which includes luxurious new Beach House guest rooms, property-wide beautification updates, new sustainability initiatives, and the introduction of a gourmet coffee bar. Located on a stunning, private six-acre white sand beach alongside the Gulf of Mexico, LaPlaya Beach & Golf Resort offers a quintessential Naples experience with an award-winning beachside restaurant, luxurious spa, exclusive golf club, and stunning waterfront views f...
Valuing a Hotel’s Real and Personal Property Separately
Hans Detlefsen | December 7, 2016
How to Separate Tangible Personal Property Value from Real Property Value in Hotels A hotel's value can be categorized into real property and personal property. Real property includes the land and improvements. Personal property includes tangible1 and, sometimes, intangible2 personal property. When valuing a hotel for ad valorem tax purposes, it is often necessary to separate the tangible personal property value from the real property value, as many jurisdictions tax the real property separately. This article describes a methodology for separating the tangible personal property from the real property value of hotels. Introduction by Exa...
How to Find (And Keep) the Best Hotel Sales Talent Right Now: Tips From Tambourine’s DOSM-in-Residence
Tambourine | December 5, 2016
Group and catering revenues often make or break your property's P&L and determine whether you outperform your comp set. Your sales team's performance is often the key to winning… so you MUST have quality salespeople. While most hotels have found a way to stay competitive in the transient space (with proper revenue management and smart hotel marketing), gaining a competitive advantage on the group side requires an enhanced commitment to recruiting and retaining sales talent. How to find and retain the best hotel sales talent right now: We asked our own Jeff Spaccio, Tambourine's DOSM-in-Residence, for advice on finding and ret...
Terry Sanders Joins Hotel AG and Opens Dallas Office
Hotel AG | November 30, 2016
ATLANTA – November 30, 2016 – Hotel AG announced today that Terry Sanders has joined Hotel AG as a partner and will lead the Dallas, Texas office for the firm. Terry is a 20-year veteran of the hotel industry who most recently played a key role in the growth of Wyndham Hotel Group's U.S. portfolio of hotels. Holding various positions during his career at Wyndham, Terry's most recent role from 2009 to 2015 was as Senior Vice President of Development for Franchised and Managed Hotels for the U.S., as well as Western Canada. While at Wyndham, Terry was responsible for generating over $500 million in ongoing franchised and manag...
Timothy Arnold Named Managing Director of Food and Beverage of El San Juan Hotel
El San Juan Hotel | November 28, 2016
SAN JUAN, Puerto Rico – November 28, 2017 – El San Juan Hotel is pleased to announce Timothy Arnold as Managing Director of Food and Beverage. Arnold brings more than 25 years of luxury resort, hotel and restaurant experience to the multimillion dollar renovation. In his new role, Arnold will oversee all aspects of El San Juan Hotel's food and beverage operations including the resort's nine award-winning restaurants, 15 bars and in room dining programming. "Throughout his career, Arnold has established himself as an exemplary leader, not just managerially and operationally, but also strategically." said Stefan Huber, Managin...
Hospitality Funding Arranges $12.6 Million Acquisition Loan for Plantation, Florida Hotel
Hospitality Funding | November 20, 2016
Palm Beach, Fla. – Hospitality Funding, a Palm Beach-based boutique financial advisory firm, has facilitated a 10-year, $12.6 million loan for the owner of the Holiday Inn Express in Plantation, Fla. The fixed-rate loan is secured by the 156-room hotel at 1701 N University Drive. An affiliate of Waramaug Hospitality is the owner of the hotel. Waramaug is a privately held investment group that focuses on acquiring legacy branded assets throughout the United States. Hospitality Funding Chairman Scott Silver stated, "While the markets have been changing over the last few months, Hospitality Funding was still able to executive an attr...
UpsellGuru to Further Maximize Upsell Opportunities for Partner Hotels in the U.K.
UpsellGuru | November 15, 2016
London, UK – The 132-bedroom resort Cameron House has partnered with UpsellGuru to generate greater revenues and higher guest satisfaction. The 5 Star Luxury Hotel, set on the world-renowned banks of Loch Lomond in Scotland, is using UpsellGuru's innovative upsell system to permit their guests to submit bids on room upgrade prior to their arrivals. Additionally, guests can purchase meals and spa visits in the hotel's multi award-winning restaurants and spa. In the first 3 months of partnership, Cameron House is experiencing a high number in stay upgrades, attaining average additional revenues of GBP 6.000 per month (up to GBP 10.0...
How the Marriott-Starwood Merger Will Affect You…
Jim Butler | November 11, 2016
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Author of www.HotelLawBlog.com Global Hospitality Group® survey results: What does all the recent consolidation in the hotel industry mean to different stakeholders? Marriott closed its acquisition of Starwood on September 23, 2016, following Accor's closing of its acquisition of Fairmont/Raffles on July 12, 2016. Other consolidations may already be underway. In any event, most of us in the hotel industry expect some very important consequences to result from such transactions. The hotel lawyers at JMBM's Global Hospitality Group® thought it would be int...
HFTP Announces Forward-Thinking Keynote Speakers for Premier HITEC Amsterdam in March 2017
HFTP | November 10, 2016
HFTP adds future scenario planner Woody Wade and BBC broadcaster Aleks Krotoski as program headliners AUSTIN, TEXAS, USA (November 10, 2016) — Hospitality Financial and Technology Professionals (HFTP®), producer of the Hospitality Industry Technology Exposition and Conference (HITEC®), has secured two globally known, innovative thinkers for the inaugural HITEC Amsterdam. Opening the event is Aleks Krotoski, an award-winning international broadcaster, author and academic who is behind the BBC Radio 4 show The Digital Human and BBC World's The Virtual Revolution. Closing the program is Woody Wade, future scenario plannin...
Hotel Lawyer: The PROs and CONs of Multi-Branded Hotels
Bob Braun | November 10, 2016
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Author of www.HotelLawBlog.com Hotel Lawyer on multi-branded hotels. Hotels with more than one brand are increasingly common, but it wasn't always so. Although some compelling advantages are driving this trend in many situations, developers and owners should weigh the advantages against other considerations. 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),...
Pebblebrook Hotel Trust Enters Agreement to Sell the Manhattan NYC in New York, New York for $217.5 Million
Pebblebrook Hotel Trust | November 7, 2016
BETHESDA, Md.--November 7, 2016-- Pebblebrook Hotel Trust (NYSE: PEB) (the "Company") today announced that it has executed a purchase and sale agreement to sell the 618-room, upper upscale, full-service Manhattan NYC in New York, New York for $217.5 million to a third party. The sale of the Manhattan NYC is subject to normal closing conditions, and the Company offers no assurances that this sale will be completed. The Company is targeting to complete the sale in the next 90 days. Proceeds from the sale of Manhattan NYC will be utilized for general business purposes which may include reducing the Company's outstanding debt or repurchasin...
