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Finance
InterContinental Buckhead Atlanta and Park Hyatt Chicago Upgrade to InvoTech RFID Uniform System
InvoTech Systems | September 24, 2014
Long-time InvoTech Customers Upgrade their Uniform Systems with RFID Technology for More Efficient Operations and Cost Saving Benefits LOS ANGELES, CA - September 24, 2014 - InvoTech Systems, Inc. announced two leading city center hotels upgraded their uniform management and control processes with InvoTech's UHF-RFID Uniform System. The InterContinental Buckhead Atlanta and Park Hyatt Chicago have both benefited from the control and accountability established by the InvoTech Uniform System for more than ten years. The RFID upgrade will provide cost saving benefits with more efficient operations by automating manual tasks. Click here for...
Beauport Gloucester Hotel Moving Toward Construction
BuildCentral | September 22, 2014
Hotel-Online and BuildCentral Add/Update 335 Hotel Projects to the New Hotel Construction Projects Database Chicago, IL. September 22, 2014 - Hotel-Online and BuildCentral have added or updated 335 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: 3rd Avenue Hotel (New York, NY) Convention Center and Hotel (Katy, TX) 6080 Collins Hotel (Mia...
Hotel AG Set to Close 20 Hotel Transactions in September
Hotel AG | September 22, 2014
ATLANTA - September 22, 2014 - Hotel Assets Group, LLC (Hotel AG), announced today the firm expects to close 20 hotel real estate transactions in September. The anticipated closings will consist of two hotel portfolios including 13 Hilton and Marriott assets with the remaining consisting of other brand families. Hotel AG as a firm has seen an increase in transactions of 47% and income of 68% year-to-date through September 2014 versus the same period in 2013. "We believe we are seeing the investment window of this cycle. Buyers are taking note of the low interest rates versus the cap rate spreads, and understanding that the delta we are ...
Deloitte Survey: Where There is Reward for Travel, There is Risk
Deloitte's Travel, Hospitality and Leisure Practice | September 17, 2014
Only one-third of consumers feel their frequent traveler accounts are secure enough NEW YORK, Sept. 17, 2014 -- Three-quarters (75 percent) of frequent travelers expect their loyalty program data to be secured to at least the same standard as a financial institution – but only 33 percent feel their accounts are secure enough, according to a new Deloitte study, "Loyalty data security: Are hospitality and travel companies managing the risks of their rewards programs?" Few frequent travelers appear fully aware of the wider risks involved when loyalty data – including travel schedules and other personal data – is lost or stolen. Rough...
The Components of Franchise Fees
Robert Mandelbaum and Gray McDade | September 16, 2014
By Robert Mandelbaum and Gary McDade Hotel franchise companies ("the brands/chains") charge their franchisees a series of fees that cover a variety of services provided by the franchisor. In our firm's annual Trends® in the Hotel Industry survey of operating statements, PKF Hospitality Research, (PKF-HR is a CBRE company) captures four of these fees discretely: Royalty Fees Advertising and Marketing Assessments Loyalty Program Fees Reservation Assessments To gain a better understanding of the fees paid by hotel owners to their franchisors, PKF-HR analyzed the operating statements of 1,304 chain-affiliated hotels in our Trends® d...
The Plasencia Group Announces the Sale of the DoubleTree Grand Key Resort in Key West, Florida
The Plasencia Group | September 16, 2014
Tampa, Fla. (September 16, 2014) – The Plasencia Group is pleased to announce the sale of the DoubleTree Grand Key Resort, located in Key West, Florida. The firm represented the owner of the 215-key resort. RLJ Lodging Trust acquired the property for a purchase price of $77.0 million, or approximately $358,000 per key. According to Dennis Reed, Senior Vice President of The Plasencia Group's Southeast Region, "This transaction was an exceptional deal for both the buyer and seller. Strong barriers to entry coupled with year-round leisure demand make Key West an extraordinary market unlike all but a few in the United States." Mr. Reed le...
Is Revenue Management Only Useful for Luxury Hotels?
Jean Francois Mourier | September 12, 2014
By Jean Francois Mourier In the past, revenue management was a practice that only high-end, luxury properties implemented for two major reasons: first, it was hugely cost prohibitive, and second, it required the hotel to hire a revenue manager to execute the processes (or oversee the revenue management system - RMS). Only properties with large budgets both for revenue management and personnel could actually afford to use revenue management to price their properties, leaving smaller, boutique properties struggling to keep up. But that was yesterday and today, lots of things have changed. Today, revenue management is a practice that all p...
Duetto Scales its Global Sales Solutions Team
Duetto | September 12, 2014
San Francisco and Las Vegas, September 12 2014 -- Duetto, the market leader in hotel profit optimization software, announced the expansion of its sales solutions team with the recent addition of more than 30 experienced professionals joining in six cities. Adoption of Duetto's core revenue strategy solutions continues to accelerate, with exponential growth seen each quarter. New customers include Red Lion Hotels Corporation (NYSE:RLH), and dozens of other hotels and casino hotel groups in 16 countries. Duetto is continuing its aggressive recruiting and hiring worldwide, and expects to make additional announcements in coming weeks. To sp...
Why is This New Report Scaring the #%*! out of Hotel Owners?
Tambourine | September 10, 2014
Hoteliers have always felt the pinch of paying third-party fees to attract and retain guests. Now – with the just released results of a multi-year hotel revenue study - that pinch has turned into a full-blown punch. The study, conducted by Hospitality Asset Managers Association and its resulting whitepaper, The Rising Costs of Customer Acquisition, sums it up: Costs associated with acquiring new hotel customers through distribution channels and marketing rose 2-3 times faster than hotel revenue growth. Here's what the Report uncovered: PROBLEMS More Players, Less Profits In addition to OTAs, meeting planners and bran...
Park Hyatt New York Marks Grand Opening with InvoTech RFID Staff Uniform Protection
Park Hyatt New York | September 9, 2014
How Does Manhattan's Newest Luxury Location Track Uniform Assignments, Maintain Laundry Accountability, and Reduce Labor Expenses? With InvoTech Systems, Inc. Technology LOS ANGELES, CA - September 9, 2014 - When Manhattan's newest luxury hotel, Park Hyatt New York, opened its doors on August 19, , InvoTech Systems, Inc.'s UHF-RFID Uniform System was already at work behind the scenes to maintain garment quality. InvoTech managed installation of durable RFID tags in the hotel's 4,000 uniforms and recorded garment assignments prior to opening to simplify property operations. The InvoTech Uniform System reduces labor expenses associated wi...
Looking for EB-5 Financing? The China “Retrogression” Means You Should Act Sooner than Later!
JMBM | September 9, 2014
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 9 September 2014 EB-5 Visas and China "Retrogression" - What's it all about? by Jim Butler and Jonathan Bloch Partners, Jeffer Mangels Butler & Mitchell LLP In the past, when China exceeded its 7% allocation of US Immigrant Investor Visas (EB-5 visas), Chinese applicants were permitted to take advantage of unused EB-5 visas allotted to other countries. But as of the last week of August 2014, the US State Department decided that the issuance of new EB-5 visas to Chinese applicants will be frozen or "retrogress" (move backward) until Octob...
Application Submitted to State Gaming Commission for Rivers Casino and Resort at Mohawk Harbor
BuildCentral | September 8, 2014
Hotel-Online and BuildCentral Add/Update 273 Hotel Projects to the New Hotel Construction Projects Database Chicago, IL. September 8, 2014 - Hotel-Online and BuildCentral have added or updated 273 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: New Allen Park Hotel (Allen Park, MI) Hilton Hotel (Charleston, SC) Palm Harbor Hotel (West Pal...
Hotel Management Companies and Equity Contributions: Benefits and Risks
the Authors | August 27, 2014
by Todd Isenstadt and Hans Detlefsen Introduction Hotel financing takes different forms based on the capital requirements of the developer and the availability of alternative financing sources. These factors vary with the economic climate. Typically, hotel developers attempt to finance new hotel construction projects with a combination of debt and equity. Within these two general categories of capital, various sources may be required to fund the project. This article investigates the benefits and risks of seeking equity participation from hotel management companies. Financing Scenarios In today's lending environment, active hotel lender...
Start-Ups, Keep Your Eye On The Ball
Puzzle Partner | August 27, 2014
Puzzle Partner CEO Shares Insights To Help Technology Start-Ups Hit It Out of the Park By Alan E. Young, CEO and Co-Founder of Puzzle Partner Toronto, CA August 27, 2014 Last night I was out in the backyard throwing the ball with my 10-year-old son, and while he has the arm of Greg Maddux, he has some difficulty catching the ball. I instructed him to watch the ball all the way from my throw into his glove. I kept on telling him to keep his eye on the ball. Once he understood this concept; the balls stopped falling onto the ground and remained in his glove. Obviously, once he was catching fastballs, pop flys and almost anything I threw a...
City Approval Process Started for Hyatt House Hotel Austin
BuildCentral | August 25, 2014
Hotel-Online and BuildCentral Add/Update 287 Hotel Projects to the New Hotel Construction Projects Database Chicago, IL. August 25, 2014 - Hotel-Online and BuildCentral have added or updated 287 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: Bella Rose Inn (Chandler , AZ) Stockyard Hotel (Fort Worth, TX) Embassy Suites (Ventura, CA) Wil...
Four Seasons Resort Orlando at Walt Disney World® Resort Implements InvoTech RFID Uniform System
Four Seasons Resort Orlando at Walt Disney World Resort | August 25, 2014
High-efficiency UHF-RFID Tags, Mobile Readers, Automated Garment Identification and Processes Eliminate Unaccounted Loss, Establish Accurate Laundry Accountability LOS ANGELES, CA - August 25, 2014 - InvoTech Systems, Inc. announced Four Seasons Resort Orlando at Walt Disney World® Resort has implemented the InvoTech UHF-RFID Uniform System to automate management of the property's more than 7,000 custom uniforms. The InvoTech Uniform System reduces labor expenses associated with manual handling and increases employee accountability with automated uniform tracking. The Orlando resort is the ninth Four Seasons resort that utilizes InvoTe...
HAMA Study Documents Growing Revenue Acquisition Costs Outpacing Hotel Revenue Growth
HAMA | August 20, 2014
BOSTON - - August 20, 2014 - Officials of the Hospitality Asset Managers Association ("HAMA") today announced the results of a multi-year study that demonstrates that revenue acquisition costs outpaced hotel revenue growth from 2009 through 2012. The results were presented in "The Rising Costs of Customer Acquisition," a white paper commissioned in late 2013. The white paper addresses an analysis of the financial results of more than 100 upper upscale and luxury hotels with brand affiliations. It specifically looks at both the external costs of brand allocations (for marketing, advertising, major promotions, national and global sales of...
3 Things Hoteliers Must Budget for in 2015
Lodging Interactive | August 19, 2014
What every hotelier should consider and budget for in 2015 PARSIPPANY, N.J. - AUGUST 19, 2014 - Given recent trends, digital marketing is set to become a majority piece of the budget pie by 2019. In a world of increased mobile use and expectations of rapid online responses from properties and brands, hoteliers need to stay on trend with digital spending when planning their 2015 budget, ensuring three areas of web-based marketing are well addressed next year. 3 Things Hoteliers Must Budget for in 2015 Complete Online Reputation Management Managing your online reputation isn't as simple as monitoring what guests are saying on review sites...
Speakers and Topics Announced for the Second Annual Revenue Strategy Summit (RSS)
Duetto | August 18, 2014
October 16, 2014 at the Affinia Manhattan Powered by Duetto, RSS Anticipates More than 300 Participants to Focus on the Next Frontiers in Hotel Innovation New York, August 18, 2014 ... Duetto, Kalibri Labs and Silver Hospitality Group, LLC announced the speakers, and agenda, for the second annual Revenue Strategy Summit (RSS), a gathering of thought leaders and practitioners who will examine forces reshaping the hospitality industry and how marketing and technology must evolve to meet new demands. Scheduled for October 16th at the Affinia Manhattan, the full-day conference will feature industry leaders who will continue to articulate an...
Puzzle Partner Opens Doors for Travel and Hospitality Technology Start-Ups
Puzzle Partner | August 13, 2014
Full service start-up accelerator combines experience, strategy and execution to drive awareness, deliver leads and create partnerships to help businesses grow profitably Toronto, CA, - August 13, 2014 Puzzle Partner, an innovative consultancy firm, today announced the success of their recent initiatives focused on developing dramatic growth and marketing strategies for hospitality and travel technology start-ups. "We are very pleased by the interest in Puzzle Partner and the services that we offer," says Alan E. Young, CEO of Puzzle Partner. "The travel and hospitality technology start-up domain is full of great ideas and innovations....
Aptech Mobile GM Dashboards with STR Stats Give Operators Competitive Advantage
Aptech Computer Systems | August 13, 2014
"Total Mobility" Property Performance Data and Reports with STR Comparisons Help Highpointe Hotel Corp. GMs Make Better Decisions, Manage by the Numbers Anywhere Pittsburgh, PA - August 13, 2014 - "One of our GMs pulled out his company iPad while he was at a national hotel management conference last month. He wanted to check his property's labor and expense numbers for the previous day. The manager beside him at the table thought it was pretty cool; he'd never seen anything like it," said Mark Pate, assistant controller and IT manager for Highpointe Hotel Corporation. "All of our GMs use tablets and Execuvue Reports to be totally mobile...
New Educational Institute Case Study Walks Students through Accounting Tasks
the American Hotel & Lodging Educational Institute (AHLEI) | August 13, 2014
Orlando, Florida, August 2014-The American Hotel & Lodging Educational Institute (AHLEI) has published a new learning resource to help hospitality management students better understand the many ways accounting is used at a hotel property. SeaSpray Hotel: An Integrated Hospitality Accounting Case Study shows students how managers and department heads use managerial accounting concepts and techniques in the daily operation of a hotel. The case study was written by Gurprit S. Chhatwal and Jean Abbott, who teach at Richard Stockton College of New Jersey. The extended case study presents a narrative that follows newly-hired controller Sa...
InvoTech UHF-RFID Uniform System Goes Live at Hard Rock Rocksino Northfield Park
Hard Rock Rocksino Northfield Park | August 12, 2014
Hard Rock Rocksino Northfield Park Installs InvoTech for Uniform Management and Control; System Eliminates Unaccounted Losses, Establishes Staff Responsibility LOS ANGELES, CA - August 12, 2014 - InvoTech Systems, Inc. announced Hard Rock Rocksino Northfield Park implemented the InvoTech UHF-RFID Uniform System to automate control and management of the property's 6,000-plus uniforms. The InvoTech Uniform System reduces labor expenses associated with manual handling and increases employee accountability with automated uniform tracking. Click here for more information on InvoTech's Linen, Uniform, and Laundry Systems. Hard Rock Rocksino'...
Branding Negotiations Started for Alta Colorado Lodge and Resort
BuildCentral | August 11, 2014
Hotel-Online and BuildCentral Add/Update 257 Hotel Projects to the New Hotel Construction Projects Database Chicago, IL. August 11, 2014 - Hotel-Online and BuildCentral have added or updated 257 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: The Ashton Hotel (Fort Worth, TX) Manhattan West Hotel (New York, NY) Historic District Hotel (Ne...
