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Finance
Get your Revenue Management in Shape for 2015!
Jean Francois Mourier | January 16, 2015
By Jean Francois Mourier During the first few days of a new year, everyone is busy planning their personal new year's resolutions. But although most of us spend the beginning of each year focused on self-improvement, we rarely think about new year's resolutions for our business. For hotels, this is an especially important practice because your revenue management practices can make-or-break your hotel's profitability for the coming year. So while you're planning your resolutions for 2015, consider adding one for your property: to get your revenue management in shape for the coming year! Here are four steps that every hotelier and revenue...
Tivoli Lodge Targets Higher Digital Marketing ROI with Consumer Intelligence from nSight
nSight | January 15, 2015
TripAdvisor's #1 Ranked Hotel in Vail Using Shopper Analytics to Grow Share on a Global Scale NASHVILLE, TN - January 15, 2015 - nSight, the leader in online consumer shopping intelligence for the travel industry, today announced that Vail-based Tivoli Lodge is using its consumer intelligence to enhance performance on digital marketing campaigns. nSight captures more than 80 million searches and bookings for hotels daily across third-party websites worldwide, providing in-depth consumer insights based on geography, profile and search behavior. The #1 TripAdvisor ranked hotel in Vail, Tivoli will use nSight consumer shopping data to focu...
Kennebunkport Resort Collection Moves to the Cloud with ATRIO® PMS and Duetto
PAR Technology Corporation | January 14, 2015
New Hartford, NY - (January 14, 2015) - PAR Springer-Miller Systems, Inc. (PSMS) - a wholly owned subsidiary of PAR Technology Corporation (NYSE:PAR) and the leading provider of next generation cloud-based hospitality management systems, today announces that Kennebunkport Resort Collection has chosen ATRIO PMS as its cloud property management system and Duetto's Revenue Strategy Solutions for revenue management for its collection of eight properties in Kennebunkport, Maine. Located on the southern coast of Maine, Kennebunkport sits prominently on the Atlantic Ocean. The Kennebunkport Resort Collection features 8 diverse luxury propertie...
Hotel AG Involved in 194 Hotel Transactions During Last 2 Years
Hotel AG | January 5, 2015
ATLANTA - January 5, 2015 - Hotel Assets Group, LLC (Hotel AG), announced today the firm has sold or advised on 194 separate hotel transactions during the 2013 and 2014 years. The firm closed 194 transactions including 169 select service hotels, 25 full-service assets and 12 portfolios. The brands represented were 17 Courtyard by Marriott, 16 Fairfield Inn, 12 Residence Inn, 11 Springhill Suites, 6 Townplace Suites, 8 Marriott/Hilton/Starwood full-service hotels, 20 Hilton Garden Inn, 7 Homewood Suites, 13 Hampton Inn, 8 Hampton Inn & Suites, 5 Holiday Inn, 3 Holiday Inn Express, 1 Staybridge Suite, 8 Wyndham branded hotels, 17 Choi...
Deep Discounting Doesn’t Work
Jean Francois Mourier | December 19, 2014
By Jean Francois Mourier Black Friday is a day filled with discounts on every product imaginable and for days beforehand, serious bargain-hunters are strategically planning their "plans of attack". This past Black Friday, which took place last month, gave US discount shoppers a fantastic opportunity: the ability to purchase hotel stays at many properties across the country for only $7 per night. Sounds great right? Well, it was... for consumers. However, for the hotels that participated in this deal (offered through a last-minute deals app) might not have been the best business decision - no matter whether it is done to raise awareness ...
Pebblebrook Hotel Trust Acquires the 356-room Revere Hotel Boston Common in Boston, Massachusetts
Pebblebrook Hotel Trust | December 19, 2014
December 19, 2014 - BETHESDA, Md. - Pebblebrook Hotel Trust (NYSE:PEB) (the "Company") today announced that it has acquired the Revere Hotel Boston Common ("Revere Hotel"), an attached 826-space parking garage and an adjacent land parcel for $260.4 million. The 356-room hotel is located in the heart of the historic Theater District of downtown Boston, Massachusetts. "We're thrilled to announce our acquisition of the Revere Hotel and the expansion of our presence in the highly desirable Boston market," said Jon Bortz, Chairman and Chief Executive Officer of Pebblebrook Hotel Trust. "Situated at the convergence of Boston's Back Bay, Finan...
Puzzle Partner Launches News Site Showcasing the Next Big Thing in Travel and Hospitality Technology
Puzzle Partner Ltd. | December 15, 2014
Engaging trend spotting resource helps entrepreneurs and business leaders stay on the pulse of the fast-moving disruptive technologies that are shaping the future of travel and hospitality Toronto, CA, - December 15, 2014 - Puzzle Partner Ltd., a marketing and strategic growth agency, today announced the launch of the Next Big Thing Travel & Hospitality Technology (NBTworld.com). The responsively designed tech portal will be positioned as the go-to news site for technology innovations, emerging trends and startups within the travel and hospitality world. It also brings together the industry's thought leaders and success experts to r...
Pebblebrook Hotel Trust Acquires the 125-room Union Station Hotel in Nashville, Tennessee for $52.3M
Pebblebrook Hotel Trust | December 11, 2014
December 11, 2014 - BETHESDA, Md. - Pebblebrook Hotel Trust (NYSE:PEB) (the "Company") today announced that it has acquired Union Station Hotel, Autograph Collection ("Union Station Hotel") for $52.3 million. The 125-room iconic historic landmark hotel is located on Broadway, in the center of downtown Nashville, Tennessee. The property will maintain its association with Marriott's Autograph Collection and will be operated by Sage Hospitality ("Sage"). "We're thrilled with the acquisition of Union Station Hotel and the opportunity to further expand our growing portfolio into the high-growth Nashville market," said Jon Bortz, Chairman and...
Why Now is the Time for Hotel Owners to Leverage Revenue Management
Trevor Stuart-Hill | December 10, 2014
By Trevor Stuart-Hill The hotel industry, in virtually every global market, has recovered from the sharp downturn of 2008 and 2009. In the US market, during the first half of 2014, room demand was up 4.2% and room revenue was up 8.6%. Randy Smith of Smith Travel Research (STR) states, "The surge in demand we witnessed during the summer of 2014 even caught us by surprise...and it certainly is nice to be pleasantly surprised." So why is now a good time to harvest the value that revenue management can bring to the table? The answer relates to the cyclical nature of our business, combined with mounting pressure on profitability. A Global Vi...
Hotel Financing: JMBM’s Preferred EB-5 Construction Financing Program for Top Developers & Projects
Jonathan Bloch | December 9, 2014
By Jim Butler and the Global Hospitality Group® 09 December 2014 Click here for the latest articles on EB-5 Financing. JMBM is sourcing low-cost mezzanine capital for new construction through EB-5 financing for its top developer-clients. To qualify for this program, the borrower must be an experienced developer with a superb track record, a superior reputation and a great project. If you don't meet those threshold requirements, then don't read any further, because this program does not apply to you. If you are still reading, the question is: "Can you benefit from mezzanine financing with an all-in cost to you of approximately 6 â...
Pinnacle Hotel Management Automates Budgets and Forecasts for 26 Hotels with Aptech’s Targetvue
Pinnacle Hotel Management | December 2, 2014
Major Marriott and Hilton Operator Simplifies Budget and Forecast Processes with Automated Property General Ledger Updates and Accurate, Easy to Maintain Reports Pittsburgh, PA - December 2, 2014 - Aptech Computer Systems announced that Pinnacle Hotel Management implemented the Targetvue Budgeting and Forecasting solution for 26 Marriott, Hilton, and independent properties. Targetvue is a hospitality-driven enterprise system that enables operators to easily compare plans with performance on a daily basis. Properties can build and implement more flexible plans to achieve business goals. Aptech is the leading provider of hospitality soft...
Plans Move Forward for Old Quarry Commons Development, Including Hotel Portion
BuildCentral | December 1, 2014
Hotel-Online and BuildCentral Add/Update 224 Hotel Projects to the New Hotel Construction Projects Database Chicago, IL. December 1, 2014 - Hotel-Online and BuildCentral have added or updated 224 hotel projects in the last two weeks to Hotel Construction, a nationwide database of hotel construction projects, openings, and key decision makers (Owner/Developers, Architects and Contractors). These proposed hotels are still in the planning stages. Now is the perfect time to have your product drawn into plans, or offer construction services: 34th Street Oceanfront Hotel (Ocean City, MD) Residence Inn by Marriott (Sunny Isles Beach, FL) ...
Hotel AG Closes 11 Hotel Transactions in November
Hotel AG | November 26, 2014
ATLANTA - December 1, 2014 - Hotel Assets Group, LLC (Hotel AG), announced today the firm has closed 11 hotel real estate transactions in the month of November and additionally, has sold or advised on 188 hotel transactions since January of 2013. Of the transactions closed, 8 were Hilton, Marriott or Starwood branded assets and 4 were full-service hotels. Geographically, the hotels were located from New York to Florida along the Eastern Seaboard of the US. The buyers consisted mostly of REITs and investment firms and the clients represented were across several ownership types. Furthermore, the firm has closed 5 portfolios within the las...
Think Beyond the Compset
Jean Francois Mourier | November 23, 2014
By Jean Francois Mourier For many, many years, hotels have used their property's compset (also known as the competitive set) in order to gauge their hotel's performance against the competition. That is definitely a smart business decision! But unfortunately, many of those same hotels are using their compset as their only basis for determining pricing of their rooms which is not the most effective way of determining nightly rates. The concept of a compset was developed when the Smith Travel Research (STR) reports were the tools that all hotels used to measure their property's performance against the competition. At that time, using STR c...
Pebblebrook Hotel Trust Acquires the 264-room Hotel Palomar Los Angeles – Westwood for $78.7 Million
Pebblebrook Hotel Trust | November 21, 2014
November 21, 2014 - BETHESDA, Md. - Pebblebrook Hotel Trust (NYSE: PEB) (the "Company") today announced that it has acquired the Hotel Palomar Los Angeles – Westwood ("Hotel Palomar") for $78.7 million. The 264-room, upper upscale, full-service boutique hotel is located in the Westwood neighborhood of Los Angeles, California. The property will continue to be managed by Kimpton Hotels & Restaurants ("Kimpton"). "We're thrilled with our acquisition of the Hotel Palomar Los Angeles – Westwood, located in the dynamic, high-barrier-to-entry West Los Angeles neighborhood of Westwood," said Jon Bortz, Chairman, President and Chief Exec...
Top 10 Things Great DOSM’s Do Every Day: #5 is a Must!
Tambourine | November 20, 2014
by Dave Spector 1. Determine the Day's Top Priorities and STICK to Them As tempting as it may be, don't flip open your computer and dive right into emailing clients, sales numbers, checking in on your team, etc. While well-intentioned, tackling your day without a plan leaves room for wandering thoughts, for conversations and projects to take longer than they should, and for frivolous activities to take over precious hours that should be dedicated to more pressing matters that impact your hotel's revenue. 2. Evaluate Your Hotel Product Dedicate five minutes to monitor your hotel's review sentiment. Read through your most recent hotel gue...
Better Focus On Using Lead Tracking Could Increase Hotel Sales Closings
Doug Kennedy | November 19, 2014
By Doug Kennedy November 19, 2014 In providing training for hotel sales and catering departments I usually find that nearly all have a robust sales lead tracking tool. There are many excellent systems out there such as SalesForce, Delphi, and Opera Sales Force Automation among others. Yet when I ask sales leaders the question "How well are your sales associates using their system?" the answer tends to be "Not as well as they should be." As great as these systems are, they of course cannot generate any revenues unless they are properly used. Rather than using these systems to better-manage their workday, many hotel salespeople I speak wi...
Sandals Upgrades BI to Latest Aptech Execuvue with Dashboards for 21 Resorts
Aptech Computer Systems, Inc. | November 18, 2014
Latest Execuvue® Business Intelligence Delivers Faster Decisions via Easy to Use Reports with Data Drill-Down; Configurable Formats Show Performance Updates Throughout the Day Pittsburgh, PA - November 18, 2014 - Aptech Computer Systems announced that Sandals Resorts International (SRI) upgraded to the latest Execuvue Business Intelligence for easy-to-use, flexible global reporting for its 21 resorts throughout the Caribbean. SRI operates Sandals, Beaches and Grand Pineapple Beach Resorts. Aptech is the leading provider of hospitality software for business intelligence, budgeting, and enterprise financial accounting. Click here for mo...
Mission Gateway Boutique Hotel Plans Start to Move Forward with Scaled Down Version
BuildCentral | November 17, 2014
Hotel-Online and BuildCentral Add/Update 242 Hotel Projects to the New Hotel Construction Projects Database Chicago, IL. November 17, 2014 - Hotel-Online and BuildCentral have added or updated 242 hotel projects in the last two weeks to Hotel Construction, a nationwide database of hotel construction projects, openings, and key decision makers (Owner/Developers, Architects and Contractors). These proposed hotels are still in the planning stages. Now is the perfect time to have your product drawn into plans, or offer construction services: Dallas Midtown Hotels (Dallas, TX) Barlow Road Hotel (Hudson, OH) Bear Creek Commons Hotel (Wil...
Prediction 2015: Chinese Investment Wave will Create Many Opportunities in the US
JMBM | November 13, 2014
By Jim Butler and the Global Hospitality Group® 13 November 2014 Click here for the latest articles on Chinese Investment or here on EB-5 Financing. As the Chinese economy continues to become more important globally, we are seeing a shift in Asian investment in the United States, particularly in California. Chinese investors will become even more active and influential over the next 10 years, and will continue adapting to Western business practices while retaining a critical sensitivity to their Chinese roots and the demographics of the Chinese population in the United States. The ineluctable demographics China's demographics are ...
Pebblebrook Hotel Trust Acquires The Westin Colonnade Coral Gables in Miami, Florida for $59.4M
Pebblebrook Hotel Trust | November 13, 2014
Davidson Hotels and Resorts will Continue to Operate the 157-room Hotel November 13, 2014 - BETHESDA, Md. - Pebblebrook Hotel Trust (NYSE:PEB) (the "Company") today announced that it has acquired The Westin Colonnade Coral Gables ("The Westin Colonnade") for $59.4 million. The 157-room upper-upscale hotel is located in Miami on Miracle Mile in the heart of Coral Gables, Florida. The hotel will continue to be operated by Davidson Hotels and Resorts ("Davidson"). "We're excited about the acquisition of The Westin Colonnade Coral Gables and the ability to further expand our presence in Miami, one of the fastest growing markets in the count...
Premier Hotel Corporation Maximizes Rates, Profitability with Same-Day Comp-Set Pricing Data
Premier | November 11, 2014
Cost-Effective Revcaster Solution Automatically Updates Hampton Inn's GRO Revenue Management; Delivers Daily and Weekly Market-Specific Reports for Member Hotels November 11, 2014 - Premier Hotel Corporation is a property management consultancy that enhances profitability through increased revenue and efficiency for its hotels. Premier serves both branded properties and independents. A year ago, Premier increased its focus on maximizing revenue for its hotels through a cost-effective, automated comp-set pricing data solution. In mid-2013 the company implemented pricing services from a solutions provider called Revcaster that enabled its...
Using Condo Hotels for Financing New Hotel Development
JMBM | November 10, 2014
Traditional condo hotel structures as "non-securities" By Jim Butler and the Global Hospitality Group® 10 November 2014 Click here for the latest articles on Condo Hotels High end hotel development in 2015 Almost every developer of a high end or luxury hotel in 2015 will at least consider using the condo hotel approach as a financing technique for new development, conversion or adaptive reuse projects. Anyone evaluating a condo hotel structure needs to know, that with recent changes in the law, there are now two different approaches available: (1) Non-Security Approach — This is the traditional approach used for almost every c...
Industry Leader Jules Sieburgh Joins Puzzle Partner Team
Puzzle Partner | November 10, 2014
Energizing New Technologies Changing the Hospitality and Travel Space Toronto, CA, - November 10, 2014 Puzzle Partner continues to expand with the announcement that hospitality technology industry icon Jules Sieburgh, CHTP, has joined their team. Mr. Sieburgh will be advising promising future technologies on strategies, VC funding and advancing angel investments. The arrival of Mr. Sieburgh, in addition to the recent addition of Seth Christian, supports the vision of growing the firm's depth of services for technology startups. Mr. Sieburgh has more than three decades of notable accomplishments in the hospitality and travel industry, mo...
