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Finance
4th Annual Revenue Strategy Summit (RSS) Slated for July 7, 2016 at the Renaissance Washington, D.C.
the Revenue Strategy Summit (RSS) | December 7, 2015
Innovators Will Gather to Confront the Hotel Industry's Biggest Profitability Challenges Washington, DC – December 7, 2015 —Hotel industry innovators and thought leaders will converge on Washington, D.C. on July 7, 2016 for the fourth annual Revenue Strategy Summit (RSS). The annual event examines the forces reshaping the hospitality industry and how marketing and technology can evolve to meet these new challenges. RSS 2016 will be held at the Renaissance Washington, D.C. Downtown Hotel. "Over the past few years, RSS has become an unmatched laboratory for new ideas shaping the future of hospitality," said Patrick Bosworth, C...
Duetto to Provide Revenue Strategy Solutions for Coast Hotels USA
Duetto | December 3, 2015
New York, December 3, 2015 – Duetto, the market leader in hotel profit optimization technology, announced that it will implement its revenue strategy solutions for Coast Hotels USA, bringing new insights on pricing and demand to one of North America's fastest growing hotel brands. Duetto will launch its solutions in all of Coast's owned and managed hotels, encompassing more than 800 rooms, at Coast USA destinations including Oregon, Washington and Hawaii. "We are very happy to announce this agreement with Coast Hotels USA, an innovative and rapidly expanding brand in North America," said Duetto CEO Patrick Bosworth. "In a fast-pac...
nSight Welcomes sbe’s Portfolio of Award-Winning Hotels to its List of Independent Hotel Groups
sbe | December 2, 2015
Predictive consumer analytics give boutique properties a digital marketing and revenue management advantage by anticipating buyer behavior NASHVILLE, TN (December 2, 2015) nSight, the leader in online consumer shopping intelligence for hotels and destinations, today announced that sbe, a global hospitality and entertainment company, is using nSight's predictive marketing and revenue management intelligence platform across its portfolio. Known as an innovative lifestyle brand, sbe leverages nSight's forward-looking consumer shopping data to improve digital ROI and support business development initiatives. "nSight's ability to show us ho...
The Marriott-Starwood Merger’s Impact on Owners, Franchisees and Developers
Robert E. Braun | November 25, 2015
By Jim Butler and the Global Hospitality Group® | Authors of www.HotelLawBlog.com November 2015 As the biggest merger in the history of the hospitality industry, the Marriott-Starwood merger, is grabbing headlines worldwide. Most of the recent press has focused on the sheer size of the potential transaction. But in his article below, my partner and hotel lawyer Bob Braun, considers the practical impact of the merger on hotel owners, franchisees and developers. With the loss of the Starwood family of brands as an independent and significant competitive force in the industry, the merger will bring mixed blessings to stakeholders. The ...
PortAventura Selects Duetto’s GameChanger Solution
Duetto | November 23, 2015
Duetto Brings Game-Changing Loyalty and Integrated Resort Pricing Capabilities to more than 2,000 Rooms at Five Hotels at Europe's Largest Destination Resort, Including the Much Anticipated "Ferrari Land" London, November 23, 2015 -- Duetto, the market leader in hotel and casino profit optimization technology, announced that PortAventura will implement its GameChanger solution, bringing new loyalty, forecasting and price optimization capabilities to five resort hotels outside Barcelona, including at the soon to be opened Ferrari Land theme park. Under the agreement, GameChanger will come to PortAventura's Hotel Gold River, Hotel Mansio...
Hotel AG Announces Year End and 1st Quarter Closings
Hotel AG | November 16, 2015
ATLANTA – November 16, 2015 – Hotel AG announced today their year end and 1st quarter closings. The firm currently has 71 hotels under sale agreement totaling $974 million with expected closings over the next several months. The brands under agreement include: 14 Hamptons, 7 Courtyards, 7 Hilton Garden Inns, 6 SpringHill Suites, 8 TownePlace Suites, 1 full service Marriott, 1 Hyatt, 1 Homewood, 3 Holiday brands, 3 Fairfield Inns, 1 Staybridge, 6 Choice flags, 5 independents and 8 other branded assets. H. Keith Thompson, principle of the firm, remarked, "We call this period in the cycle the race for capital. For the Hote...
Assila Investments and Shangri-La Sign Contract for Management of Shangri-La Hotel, Jeddah
Shangri-La Hotels and Resorts | November 16, 2015
BEIJING, Nov. 16, 2015 -- Shangri-La International Hotel Management Limited and Assila Investments today signed a contract for the management and operation of a 236-room hotel and serviced residences development in Jeddah, the second-largest city in Saudi Arabia and the principle gateway to Mecca. Slated to open in early 2018 Shangri-La Hotel, Jeddah will be the first Shangri-La in Saudi Arabia and an iconic landmark in the Middle East. Shangri-La Hotel, Jeddah will be housed in a prominent 65-storey development located on Jeddah Corniche Road facing the Red Sea. The group will also manage and provide services to the 122 apartments that...
HFTP CEO, Frank Wolfe, CAE Discusses Global Hospitality Technology Trends at CHTA Global Conference
HFTP | November 12, 2015
AUSTIN, TEXAS (November 12, 2015) — This week Hospitality Financial and Technology Professionals (HFTP®) CEO Frank Wolfe addressed more than 125 CEO/CIO/COO from global hotel groups at the 2015 CHTA Global Conference, November 11 – 13 in Macau. Wolfe shared his expertise on global hospitality technology trends. As a member of the advisory council for HFTP's Hospitality Industry Technology Exposition and Conference (HITEC), the world's largest hospitality technology event, Wolfe is in tune with the most current hot topics in the industry. Joining Wolfe, was Sunny Wang, executive director of the HFTP Asia Research Center. ...
Flip.to Boosts Revenue and Direct Bookings for Platinum Hotel with Revenue and Marketing Strategy
Flip.to | November 9, 2015
Advocacy platform sparks results; hotel and guests both win ORLANDO, FL — November 09, 2015 — Flip.to, the advocacy platform for hotels, has increased direct bookings and captured added revenue for Platinum Hotel, an all-suite property located in Las Vegas, Nevada. Flip.to tapped into the right demographic for the hotel and spa—a non-smoking, non-gaming retreat, just a few blocks off of the main strip. Designed to earn new guests by way of the warm introductions of their existing guests, Flip.to's advocacy platform extends the hotel's reach to a massive and highly targeted audience of potential future guests in an auth...
Now is the Time for Innovation, Say Hospitality Leaders at Europe’s First Revenue Strategy Forum
Duetto | November 9, 2015
Hosted by Duetto, Revenue Strategy Seen as a Key to Hotel Profitability in Today's Dynamic Marketplace London, November 9, 2015 - As the international travel community gathered at the World Travel Market just a few miles away, hospitality innovators and brand executives from companies such as Starwood Capital, Wyndham and IHG met at Shoreditch's Ace Hotel for a spirited discussion and networking focused on how hotels can create value in a rapidly evolving marketplace. The occasion was Europe's first Revenue Strategy Forum, a thought leadership event organized by Duetto, the market leader in hotel profit optimization technology. Particip...
Hotel Financing In Four Practices
Larry Mogelonsky | November 4, 2015
By Larry Mogelonsky, MBA, P. Eng. (www.lma.ca) There are many ways to assess and categorize the strengths and weaknesses of a hospitality business. Allow me to present a slightly different and holistic way of organizing how you approach the daunting task of where to allocate funds for the next cycle. For one, we tend to drill down to the minutia of a venture. I am confident that any GM knows the intimate details of the variable cost of each amenity, the labor costs at the front desk or even the number of yards of drapery fabric required per room for an upcoming renovation. After all, it's our business to know such detailed metrics, and ...
HFTP Showcases Another Successful Year
HFTP | October 28, 2015
AUSTIN, TEXAS, USA (October 28, 2015) – Over 560 Hospitality Financial and Technology Professionals (HFTP®) members and other hospitality industry professionals recently gathered for HFTP's 63rd Annual Convention & Tradeshow. The convention was held October 21 – 24 at the Hyatt Regency Bellevue in Bellevue, Wash. USA. Attendees celebrated the association's successful year with a convention full of topic focused education sessions, multiple networking opportunities and access to leading industry suppliers at the trade show. The education sessions presented a spectrum of crucial concepts and trends from top ind...
HFTP Launches Hospitality Industry Specific Search Site: Pineapplesearch.com
HFTP | October 26, 2015
Austin, Texas USA (October 26, 2015) — The hospitality industry has a new, valuable resource in the just launched Pineapplesearch.com. Produced by Hospitality Financial and Technology Professionals (HFTP), and powered by hsyndicate, the site is an aggregated content destination that focuses on news, articles and reports of primary interest to the hospitality industry, with priority placed on information-based results. The site is a super-charged resource, with numerous functionalities to help customize a hospitality-specific search. "There are multiple channels for locating information in our connected world, but it is actually a ...
HFTP Establishes Agnes DeFranco, Ed.D., CHAE Scholarship at the University of Houston
HFTP | October 26, 2015
October 26, 2015 (Austin, Texas USA) – In continuance of its fundamental mission to support hospitality-focused education, Hospitality Financial and Technology Professionals (HFTP) has announced the creation of the Agnes DeFranco, Ed.D., CHAE Scholarship. The scholarship, named in honor of DeFranco an HFTP Global Past President, resides at the Conrad N. Hilton College of Hotel and Restaurant Management at the University of Houston. To seed the scholarship, HFTP is donating US$25,000, which will be matched 100 percent by the Conrad N. Hilton Foundation. "The success of the hospitality industry is largely dependent on the talent of ...
HFTP to be the Founding Association Sponsor of UCF’s Center for Innovation in Hospitality Technology
HFTP | October 26, 2015
October 26, 2015 (Austin, Texas USA) – Hospitality Financial and Technology Professionals (HFTP) announced today that it will be the founding association sponsor of the Center For Innovation in Hospitality Technology (CIHT) at the University of Central Florida's Rosen College of Hospitality Management. Currently in development, the CIHT will be a hub of product demonstration and testing, research, professional training and innovative education to advance the hospitality industry. It will link classroom learning to real-life experience, and extend high quality education and training to students and professionals worldwide. In addit...
Pebblebrook Hotel Trust Reports 3rd Qtr. 2015 Net Income of $31.6M Compared to $23.7M in 2014
Pebblebrook Hotel Trust | October 23, 2015
BETHESDA, Md.-- Pebblebrook Hotel Trust (NYSE: PEB) (the "Company") today reported results for the third quarter ended September 30, 2015. The Company's results include the following: (1) See tables later in this press release for a description of same-property information and reconciliations from net income (loss) to non-GAAP financial measures, including Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA"), Adjusted EBITDA, Funds from Operations ("FFO"), FFO per share, Adjusted FFO and Adjusted FFO per share. For the details as to which hotels are included in Same-Property Revenue Per Availabl...
HSMAI Foundation Releases Publication on the Evolution of Hotel Sales
HSMAI Foundation | October 22, 2015
Research Finds Expanded Skill Sets are Essential to Hotel Sales Professionals of the Future McLean, VA (October 22, 2015) – The Hospitality Sales and Marketing Association International (HSMAI) Foundation today released a new research publication entitled, "The Evolution of Sales: Perspectives and Realities Defining the Modern Sales Professional." The report explores the challenges facing hotel sales today, including the way organizations and individuals think about the sales process, sales management and the sales professionals, and highlights the need for the hospitality industry to change perspective. The report, authored by La...
Duetto Partners with ReviewPro Integrating its Global Review Index™ (GRI) Data
Duetto | October 15, 2015
Expanded Partnership Helps Hotels Optimize Revenues by Benchmarking Online Reputation Vs. Competitors New York, October 15, 2015 – Duetto, the market leader in hotel profit optimization technology, announced that it has fully integrated ReviewPro's Global Review IndexTM (GRI) data into its dashboard, helping Duetto's customers by benchmarking reputation performance against their competitive sets. The partnership adds GRI's advanced reputation analytics to Duetto's tools for helping hotels fully optimize revenue and manage distribution complexity in today's rapidly changing online marketplace. "We're pleased to deepen our partners...
Aptech to Provide Budget/Forecast Leadership Session
Aptech Computer Systems, Inc. | October 14, 2015
Prophix Taps Aptech to Present Hospitality Industry Budgeting and Forecasting Session Pittsburgh, PA – October 14, 2015 – Aptech Computer Systems announce that on October 15 it will provide a thought leadership session on Hospitality Budgeting and Forecasting for international Corporate Performance Management (CPM) leader Prophix. Aptech is the leading provider of hospitality software for business intelligence, budgeting/forecasting, and enterprise financial accounting. Prophix serves more than 2600 companies in 92 countries with its CPM software that automates important financial and operational processes that reduce risks ...
Be a Part of the Future of Hotel Marketing & Revenue Management with RevPAR Hacking
Flip.to | October 8, 2015
Hot off the press from Flip.to and industry leaders, RevPAR Hacking is the ultimate guide to the impact of revenue culture. Not only will readers get insight from leading experts in their field, but they'll also learn the tips and tools to put them at the forefront of hotel marketing and revenue management. So what does it mean for a hotel to have a revenue culture? By aligning collective goals, teams work together as they aspire to generate the most revenue—and the entire organization will reap the rewards. In fact, so will the guests, as there will be more resources available to serve their needs. A revenue culture spans everyo...
Ralph R. Miller, CPA, CA, CBV, CHA, CHAE to Receive the 2015 Paragon Award Recipient
HFTP | October 6, 2015
Hospitality Financial and Technology Professionals will honor Miller at the 2015 Annual Convention & Tradeshow AUSTIN, TEXAS, USA (October 6, 2015) — Ralph R. Miller, CPA, CA, CBV, CHA, CHAE was selected as the 2015 Hospitality Financial and Technology Professionals (HFTP) Paragon Award recipient for his unwavering support of HFTP and the continuing actions to increase knowledge sharing and growth of the hospitality industry. Based in Calgary, Alb., Canada, Miller is president of Inntegrated Hospitality Management Ltd. Miller will be presented with the prestigious Paragon Award, established to recognize individuals who have ma...
EB-5 Regional Center Program is Extended, Senate Bill Proposes Making Program Permanent
Jim Butler | October 5, 2015
By Jim Butler and the Global Hospitality Group® 05 October 2015 We are pleased that the Continuing Resolution passed by Congress includes a temporary extension of the EB-5 Regional Center Program. This extension allows the program to continue generating foreign direct investment and creating U.S. jobs through December 11, 2015. In addition to extending the current program to December 11, this will also provide additional time for Congress to consider a long-term reauthorization bill that would include reform measures to strengthen federal oversight and the integrity of the program. Members of Congress from both parties and both the ...
European Hotel Transactions up 58% Year-on-Year, Says HVS
HVS | September 30, 2015
30 September 2015, London: Transactions in the European hotel sector have seen a big increase with volume reaching €12bn in the year to date, according to Charles Human, HVS managing director, speaking yesterday [29 September 2015] at the Hotel Investment Conference Europe at London's Jumeirah Carlton Tower. Introducing a session on private equity, Human painted a positive outlook of today's hotel investment sector, outlining the fact there had been a 58% year-on-year volume increase. The UK, he said, had seen the biggest number of deals, with €6.8bn-worth, representing 55% of total European volume. Some €5.2bn had been p...
Duetto to Provide Revenue Strategy Solutions for Trump Hotel Collection
Duetto | September 28, 2015
New York, September 28, 2015 – Duetto, the market leader in hotel profit optimization technology, announced today that it will implement its revenue strategy solutions for Trump Hotel Collection, bringing new insights on pricing and demand to the luxury hotel collection, known for its unmatched standard of excellence, personalized service and prime locations worldwide. Duetto will launch its services in nine sought-after destinations, encompassing more than 3,000 rooms worldwide. The rollout will begin with the 391-room Trump SoHo New York, followed by a rollout at Trump properties in Chicago, Honolulu, Las Vegas, Miami, Panama, C...
