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Finance
InvoTech Continues International Expansion; Establishes Global Reseller Network
InvoTech Systems | June 12, 2014
At HITEC Visit InvoTech Systems in Booth #240 June 24 to 26 at the Los Angeles Convention Center InvoTech, The Industry's Leading RFID Linen, Uniform and Laundry System Provider, Extends Business to 25 Countries, Adds Clients in Ireland, Chile, UK, Singapore LOS ANGELES, CA - June 12, 2014 - InvoTech Systems, Inc. announced it expanded its international business to 25 countries with the addition of new clients and a network of global resellers. InvoTech signed new-client agreements with operators in Ireland, the United Kingdom, Chile, the Dominican Republic, and Singapore. The company also extended its multilingual system functionality...
hotel SystemsPro™ Expands into Latin America, Announces International Launch of property ServicePro™
Hotel SystemsPro | June 11, 2014
At HITEC visit hotel SystemsPro in Booth #1151 June 23 to 26 at the Los Angeles Convention Center How is Multilingual property ServicePro a True International Solution for Facilities and Asset Maintenance? The System Manages Physical Assets Regardless of Country or Industry Atlanta - June 11, 2014 -- hotel SystemsPro™ announced the international launch of property ServicePro™ for clients in Mexico and Latin America. property ServicePro is an international, multilingual web-based facilities and asset management solution. property ServicePro automates maintenance and oversight of physical assets for hotels, airports, hospitals, sports...
LONELY PLANET Reveal Secrets to App Success for Travel Brands
EyeforTravel | June 10, 2014
LONELY PLANET Reveal Secrets to App Success for Travel Brands Lonely Planet, one of the most recognized brands for travellers across the world have exclusively revealed how travel brands can position themselves for 'App success'. In an increasingly crowded space, their goal was to find out exactly how travel brands can create an app which your customer will download and repeatedly use. As such, Matthew McCroskey, Head Mobile Product, Lonely Planet has teamed up with EyeforTravel in association with TDS North America 2014, to identify the three key components which travel brands must use as building blocks when creating an app. The 3 Sec...
HVS Design and JN+A Release Free 2014 Hotel Cost Estimating Guide
HVS Design | June 9, 2014
HVS Design and Jonathan Nehmer + Associates, Inc. (JN+A) are proud to announce the completion of the 2014 Hotel Cost Estimating Guide. The Guide is a comprehensive listing of capital expenditure construction and FF&E costs for hotel renovations in the United States of America. Now in its sixth year, the 2014 Hotel Cost Estimating Guide evaluates costs in a variety of hotel tiers including Economy, Extended Stay, Midscale, Upscale, Upper Upscale, and Luxury. Within each tier, costs are separated into the categories of Guestrooms; Guest Bathrooms; Guestroom Corridors; Public Areas; Food & Beverage Outlets; Function Space; Recreati...
Simon Konover Company Leverages Business Intelligence; Gives GMs Reports to Achieve Plan Every Day
The Simon Konover Company | June 4, 2014
At HITEC Visit Aptech in Booth # 501 How Has BI Boosted Konover's Growth? GMs Track Daily Performance Against Plan, Compare Property-to-Property Expense and Revenue June 4, 2014 - The Simon Konover Company is a growing enterprise with a reputation for innovation and success. The company develops, builds, owns, and manages an extensive portfolio of hotels, office buildings, and residential properties. Konover Hotel Corporation, a subsidiary of The Simon Konover Co., was an early adopter of business intelligence (BI) before the systems were widely accepted in hospitality. Today, Konover Hotel Corp. (KHC) uses BI to give its GMs comprehens...
Revenue Management: How to Price Your Rooms Correctly Every Time
Jean Francois Mourier | June 3, 2014
By Jean Francois Mourier In today's highly competitive travel industry, implementing effective real-time pricing strategies has become an operational imperative for all hotels, no matter their size, type or star rating. While revenue management has been a hotel buzzword for years, many hoteliers seem to have conflicting understandings about what exactly constitutes revenue management. So, I'm here to remind you of the fundamental principles of revenue management and why revenue management technology is so important for hotels. Let's start with the basics. What is revenue management? The dictionary defines it as "the application of disc...
315-Room citizenM Hotel Approved by City of New York
BuildCentral | June 2, 2014
Hotel-Online and BuildCentral Add/Update 168 Hotel Projects to the New Hotel Construction Projects Database Chicago, IL. June 2, 2014 - Hotel-Online and BuildCentral have added or updated 168 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: 31 Prospect Street Hotel (Staten Island, NY) LA Convention Center Hotel (Los Angeles, CA) Olympia Hil...
Resorts World Sentosa Singapore Installs InvoTech UHF-RFID Uniform System
InvoTech Systems | May 29, 2014
At HITEC Visit InvoTech in Booth # 240 June 23 to 26 at the Los Angeles Convention Center Why RFID Uniform Tracking? Multi-Property Casino Resort Taps Advanced UHF-RFID System to Manage 200,000 Uniforms for Large Staff and Raise Efficiency, Cut Costs LOS ANGELES, CA - May 29, 2014 - InvoTech Systems, Inc. announced Resorts World Sentosa (RWS) - Singapore's first integrated resort - Implemented the InvoTech UHF-RFID Uniform System to streamline processing for more than 200,000 uniforms. The InvoTech system interfaces with the White Conveyors U-Pick-It System to automatically deliver uniforms to the staff of thousands with optimum effici...
Hotel AG Welcomes DJ Effler as Director of Capital Markets
Hotel AG | May 27, 2014
ATLANTA - May 27, 2014 - Hotel Assets Group, LLC (Hotel AG), announced today that DJ Effler has joined Hotel AG as Director for the company's newly launched capital markets platform. DJ will continue his current role with Bellwether Enterprise Real Estate Capital, LLC (Bellwether Enterprise) and add to it the role of Director at Hotel AG. H. Keith Thompson, principal of Hotel AG, stated, "DJ comes from a very deep hospitality finance background that is second to none. His relationships with the CMBS markets, local lenders and insurance balance sheet lending are absolutely incredible. DJ could be the best hotel lending specialist in the ...
Hotel AG 2014 Transaction Market Performance
Hotel AG | May 27, 2014
ATLANTA - May 27, 2014 - Hotel Assets Group, LLC (Hotel AG), announced today the firm continues its momentum in closing hotel transactions. "Hotel AG continues a rapid pace in hotel transaction closings. The firm has closed more transactions this year to date than in 2013, and over the past 12 months the firm has been involved in 1 hotel transaction every 3 days. The firm has 49 hotels under sale agreement with closings scheduled for this summer," stated H. Keith Thompson, principal of the firm. "We see off the chart strong demand in the hotel real estate investing, but we think the selling window is beginning to close. I told a client ...
Pebblebrook Hotel Trust Acquires the 160-room Prescott Hotel in San Francisco, CA for $49 Million
Pebblebrook Hotel Trust | May 23, 2014
May 23, 2014 - BETHESDA, Md. - Pebblebrook Hotel Trust (NYSE:PEB) (the "Company") today announced that it has acquired the Prescott Hotel for $49.0 million. The 160-room hotel is located in the heart of Union Square in San Francisco, California. The property will continue to be managed by Kimpton Hotels & Restaurants ("Kimpton"). "We're excited about our acquisition of the Prescott Hotel and our opportunity to further expand our already strong presence in the highly desirable San Francisco market," said Jon Bortz, Chairman and Chief Executive Officer of Pebblebrook Hotel Trust. "Just one block west of Union Square, this hotel, which...
Second Annual Revenue Strategy Summit (RSS) Planned for October 16, 2014 at the Affinia Manhattan
Duetto | May 22, 2014
Powered by Duetto, RSS Will Bring Together More than 300 Industry Thought Leaders and Speakers to Focus on the Next Frontiers in Hotel Innovation New York, May 22, 2014 ... Duetto, Kalibri Labs and Silver Hospitality Group, LLC announced 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 and discuss the evolution of the new discipl...
PriceMatch Partners with Frontdesk Anywhere, an Integrated Online Hotel Management System
Frontdesk Anywhere | May 22, 2014
Want to boost your revenue? San Francisco, USA (PriceMatch) May 22, 2014 - A revolution is underway. For the first time, Frontdesk Anywhere, a leading hotel management software is offering its clients an all-in-one solution, thanks to their partnership with PriceMatch, an innovative revenue management service. Accessing your PMS, your RMS and your Channel Manager has never been easier: no more interfacing costs, no more multiple accounts, no more connection problems. This fully integrated system will allow hotel operators to maximise their revenue per available room (RevPar) without heavy investments. One password, one platform, one bil...
Hotel AG Welcomes Eric Gunderson as Newest Team Member, Opens California Office
Hotel AG | May 19, 2014
ATLANTA - May 19, 2014 - Hotel Assets Group, LLC (Hotel AG), announced today that Eric Gunderson has joined the firm as Vice President responsible for expanding the company's brokerage platform in California. Eric comes to Hotel AG from Cassidy Turley with more than seven years experience in the hospitality real estate industry. While at Cassidy Turley, Eric was based in San Francisco where he started the Northern California hospitality group, which transacted over $120 million during his tenure. "California is a market we have wanted to have a presence in for quite some time. We are excited and proud to have Eric on board as a partner....
Architect Confirmed for 116-Room Glenside Drive Hotel
BuildCentral | May 19, 2014
Hotel-Online and BuildCentral Add/Update 158 Hotel Projects to the New Hotel Construction Projects Database Chicago, IL. May 19, 2014 - Hotel-Online and BuildCentral have added or updated 158 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: Hilton Garden Inn (Port Washington, NY) Greynolds Park Hotel (North Miami Beach, FL) Saint Charles Ho...
Oliver Companies GMs Tap Portfolio Data Analysis for ‘Idea Sharing’ to Strengthen Performance
Oliver Companies | May 7, 2014
How Does Oliver Companies Maintain a Healthy Bottom Line? Daily Property Business Intelligence Reports Help Managers, Corporate Financial Team Focus on Profitability May 8, 2014 - Oliver Companies operates 13 properties under multiple flags from Florida to Wisconsin. While its hotels include Hilton, Carlson, and IHG brands, plus independents, its management focus is on two, often competing goals, customer satisfaction and bottom line profitability. "Our hotel staff's primary goal is to create the best possible customer experience, whereas everything I do is based on dollars and cents. We are all about merging these two crucial aspects o...
Bitcoin: The Newest Way to Pay for Hotel Rooms
Jean Francois Mourier | May 6, 2014
By Jean Francois Mourier Will your property accept Bitcoin as an alternative method of payment? Our answer is "yes", because if you don't, you could be losing out on a valuable revenue stream all the customers who want to pay solely with Bitcoins. Once you've decided to accept Bitcoins, you must ensure that your online booking engine is Bitcoin compatible. With this new technology, hotels of any size have the ability to accept payment in Bitcoins (and by doing so, attract a new and emerging customer), without having a great deal of technical knowledge. Guests can select Bitcoins as their selected method of payment during checkout and th...
Soaring Eagle Casino and Resort Installs InvoTech UHF-RFID Uniform System to Reduce Costs
InvoTech Systems | April 30, 2014
Why Did a Four-Diamond Casino Resort Automate Control of 20,000 Uniforms? Property Taps InvoTech to Track Accountability of New Uniform Inventory to Lower Replacement Expense, Increase Efficiency LOS ANGELES, CA - April 30, 2014 - InvoTech Systems, Inc. announced Soaring Eagle Casino and Resort implemented InvoTech's UHF-RFID Uniform Management System to automate uniform tracking, accounting, and reporting for 20,000 newly designed uniforms. Soaring Eagle also installed InvoTech in the property's uniform distribution center to establish 100% accountability and reduce replacement expenses. The InvoTech Uniform System interfaces with the ...
Twenty Four Seven Hotels Builds Depth in Corporate Revenue Management Team
Twenty Four Seven Hotels | April 29, 2014
Twenty Four Seven Hotels, a west coast hotel management company, reinforced their commitment to a sales driven culture beginning and ending with Revenue Management by expanding its Corporate Revenue Manager base. The Corporate Revenue Managers role is to support their assigned hotels in rate strategies and implementation across a multitude of channels, direct revenue strategy meetings, and maximize leverage of brand revenue systems to deliver maximum revenue growth and enhance profitability for owners. Staci Marshall joined Twenty Four Seven Hotels in 2007 in front office operations at a managed Marriott Courtyard. There she made the ju...
Buying Bad Loans and Distressed Debt in Europe (and Italy)
Jim Butler | April 28, 2014
By Jim Butler For the latest articles on this subject, please click here. By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 28 April 2014 Some are calling it the "distressed real estate gold rush in Europe." Others who have been expecting 1990s-style opportunistic investment opportunities for several years, now are seeing a change in European banks' willingness to sell distressed loans at discounts to clean up their books. Several significant deals have been announced with big name investors and more are underway. What is happening? And what is the opportunity for investors? Is it too late ...
54-Room Bay Harbor Hotel Development Moves Forward in Planning
BuildCentral | April 28, 2014
Hotel-Online and BuildCentral Add/Update 167 Hotel Projects to the New Hotel Construction Projects Database Chicago, IL. April 28, 2014 - Hotel-Online and BuildCentral have added or updated 167 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: Sawmill Area Hotel (Albuquerque, NM) Caesars Resort (Woodbury, NY) Phipps Plaza Hotel (Atlanta, GA...
Pebblebrook Hotel Trust Reports First Quarter 2014 Results; RevPAR Grew 8.5%
Pebblebrook Hotel Trust | April 25, 2014
BETHESDA, Md.--(April 24, 2014)--Pebblebrook Hotel Trust (NYSE: PEB) (the "Company") today reported results for the first quarter ended March 31, 2014. 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 Available Room ...
Hotel AG Closes One Hotel Every Five Days
Hotel AG | April 21, 2014
ATLANTA - April 21, 2014 - Hotel AG announced today the firm continues to close 1 hotel transaction every 5 days and has done so for the last 3 1/2 years. The firm has closed 33 hotel transactions over the past 23 weeks. The recent closings range from Hilton and Marriott upscale select service assets to bank deals, private deals and full service hotels. Most of the recent closings were located from the Midwest through the Northeast and along eastern seaboard states with several in Florida. H. Keith Thompson, principle of the firm, commented, "We continue to see great traction in the hotel real estate space across all segments, brand fam...
Hotel Investment: How to Finance the New Supply?
MKG Hospitality | April 11, 2014
In most western countries that already have well-established hotel infrastructures, growth of the supply slowed significantly since the end of the 1990s. By generally adopting an «Asset light» strategy that shifts the burden the investment to investor/owners and/or asset managers, hotel groups are no longer front line. They must seduce, support, and convince partners who will take the real financial risk and make arbitrages between the different investment alternatives before committing their capital. Who are today's hotel development financers, what are the means, what levers do they have to produce new properties? Can the financial ...
