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
HITEC 2014 Warns of Pirate Housing Groups
Hospitality Financial and Technology Professionals (HFTP) | April 7, 2014
AUSTIN, TEXAS, USA (April 7, 2014) - Along with its efforts to prevent pirate exhibitors from devaluing the conference, Hospitality Financial and Technology Professionals (HFTP®) is educating HITEC 2014 attendees about housing pirates. A housing pirate is an unauthorized housing provider that may approach exhibitors and attendees with fraudulent offerings of hotel rooms, request credit card information for "existing" reservations and provides false information regarding extended show dates. Only the official HITEC Housing Bureau can guarantee room reservations. To ensure attendees have time to make hotel room reservations, the HITEC Ho...
Spring Construction Start for Mesa Sheraton Hotel
BuildCentral | March 31, 2014
Hotel-Online and BuildCentral Add/Update 166 Hotel Projects to the New Hotel Construction Projects Database Chicago, IL. March 31, 2014 - Hotel-Online and BuildCentral have added or updated 166 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: LA Warner Center (Canoga Park , CA) Courtyard by Marriott Honolulu Airport (Honolulu, HI) 35th Str...
Cancun’s Largest Resort Chain, Palace Resorts, Automates Linen and Laundry Operations with InvoTech
Palace Resorts | March 25, 2014
InvoTech Increases Efficiency and Control for Palace Resorts' 7 Properties and Laundry Distribution Center LOS ANGELES - March 25, 2014 - Palace Resorts, the company that sets the standard in five-star, all-inclusive resort accommodations, recently installed the InvoTech Systems, Inc. Multi-Property RFID Linen and Laundry Systems for automated linen and laundry control and cost reduction. Palace Resorts implemented the InvoTech Linen System at all of its resort properties and installed InvoTech's Laundry System at the Palace Resorts laundry distribution center. The InvoTech Systems provide Palace Resorts with complete control over linen...
Walk A Mile In A Lender’s Shoes; Getting Your Hotel Financed
Greg Morris | March 20, 2014
By Greg Morris You're well into planning a new hotel. You've picked the market, you've seized on a segment, a seasoned management team is ready to work with you, and you've locked down a trophy flag. A lender will talk to you if you come to the bank armed with all this, even if it's your first venture into hotel development. It's common sense: Lenders offering conventional loans want to avoid risk and make money. So fortifying yourself with expertise, insight and the best possible location for the project presents an appealing picture. Oh, yes. The other factor in this complex equation is a development plan backed by 30 to 35 percent eq...
HRI Lodging Selects Aptech Targetvue, Execuvue BI, and Accounting to Simplify Reporting at 17 Hotels
HRI Lodging | March 19, 2014
Why Aptech? HRI Cites Easy-to-Use Property Performance Reports, Automated Multi-Property and Multi-System Data Gathering, Cost Effective Hosted Implementation Pittsburgh, PA - March 19, 2014 - Aptech Computer Systems, Inc. announced HRI Lodging, LLC (HRIL) will install the Targetvue, Execuvue®, and Profitvue® systems for its 17 hotels. HRIL selected Aptech's systems to simplify property reporting, data collection, and budgeting/forecasting for its expanding portfolio. Aptech is the leading provider of hospitality software for business intelligence, budgeting and forecasting, and enterprise financial accounting. Aptech will host HRIL's...
Financial District Hotel in New York Seeks City Approval
BuildCentral | March 17, 2014
Hotel-Online and BuildCentral Add/Update 185 Hotel Projects to the New Hotel Construction Projects Database Chicago, IL. March 17, 2014 - Hotel-Online and BuildCentral have added or updated 185 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: 7th and Congress Hotel (Austin, TX) Westminster Hotel (Carlisle , PA) Red Lion Inn (Polson, MT) El...
One Hotel Closing Every Five Days
Hotel AG | March 17, 2014
ATLANTA - March 17, 2014 - Hotel AG announced today the firm continues to close 1 hotel transaction every 5 days and has done so for the past 3 1/2 years. The firm has closed 26 hotel transactions over the past 18 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 northeast and along the eastern seaboard through the Midwest states. "2014 looks to be a strong transaction year for Hotel AG. Our client base has grown as well as the product type of current engagements. We have 16 portfolios on the mark...
Largest Casino Resort Destination In Minnesota Selects Rainmaker’s TribalREV®
Rainmaker | March 17, 2014
ATLANTA, GA - March 17, 2014 - The Rainmaker Group, a world leader in automated forecasting and profit optimization software and services for the Gaming & Hospitality industry, today announced that Mystic Lake Casino Hotel, in Prior Lake, Minn., will implement TribalREV®, Rainmaker's comprehensive revenue management software solution provided as a managed service. The two entities finalized the agreement in mid-January and the solution will be implemented in the first quarter of 2014. Billed as the largest casino resort destination in Minnesota, Mystic Lake offers 586 well-appointed guest rooms and suites, nearly 100 Blackjack tab...
California Hotel Portfolio Now on the Market
Trigild | March 13, 2014
SAN DIEGO, Calif. (March 13, 2014) – Acting as receiver, Trigild – a San Diego-based real estate firm specializing in property/asset management and fiduciary services – has announced that a portfolio of five franchised hotels in Valencia, Thousand Oaks and San Luis Obispo, Calif. is now for sale, and has tapped Irvine-based Atlas Hospitality Group to market and broker the properties. The portfolio has an estimated value of $100 million. According to Trigild chief financial officer Josh Hall, his firm is working closely with Atlas to review all prospects, with offers being accepted for individual properties, for various sub portfol...
Is Your Hotel’s Revenue Management Strategy “Mobile-Compatible”? By Jean Francois Mourier
Jean Francois Mourier | March 3, 2014
March 4, 2014 If you have read any hotel trade publications, listened to the news or watched the average consumer book a vacation in the past year, you may already know about mobile commerce (or mCommerce). Just like the name implies, mCommerce is any purchase made via mobile device, including smartphones or tablets. While m-commerce used to be used primarily by tech-savvy Millenials, it has now gone mainstream across all industries: "mCommerce constitutes $41.68 billion of the total $262.3 billion of [retail] ecommerce sales for 2013 (an increase of 68.2% from 2012) and accounts for 16% of total ecommerce sales." Just like every other ...
Construction Slated to Begin in Spring 2014 for The Hotel Covington Kentucky
BuildCentral | March 3, 2014
Hotel-Online and BuildCentral Add/Update 176 Hotel Projects to the New Hotel Construction Projects Database Chicago, IL. March 3, 2014 - Hotel-Online and BuildCentral have added or updated 176 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: Jupiter Pointe Marina Hotel (Jupiter, FL) TK Tripps Hotel (Asheville, NC) Hotel Eleven (Austin, TX) ...
FIU Shares White Paper for Hospitality Leaders on Revenue Management & Growth Opportunities
February 27, 2014
This month, Florida International University's Chaplin School of Hospitality& Tourism Management (CSHTM) and its Institute for Hospitality and Tourism Education and Research (IHTER) released a white paper titled Revenue management 2020: talent, tools & technology. The paper provides the hospitality industry with ideas on what can be done to shift the perception on the integration of revenue management and to best capitalize on growth opportunities. The best practices analysis was authored by Gregory T. Bohan, assistant professor at CSHTM; Simone Champagnie, executive director at IHTER; and Christine Toguchi, managing director at...
Pebblebrook Hotel Trust Reports 2013 Yearly Net Income of $20M up from $8.3M & RevPAR Growth of 6.4%
Pebblebrook Hotel Trust | February 21, 2014
February 20, 2014 04:01 PM Eastern Standard Time - BETHESDA, Md.--Pebblebrook Hotel Trust (NYSE: PEB) (the "Company") today reported results for the fourth quarter and year ended December 31, 2013. 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...
149-Room Hyatt House Hotel Planned for Irvine, CA
BuildCentral | February 17, 2014
Hotel-Online and BuildCentral Add/Update 158 Hotel Projects to the New Hotel Construction Projects Database Chicago, IL. February 17, 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: FM 620 Hotel (Austin, TX) Fairview Avenue Hotel (Seattle, WA) Cambria Suites Hotel (Schaumburg, ...
Strand Development Company Grows to 56 Properties, Increases Profitability
Strand Development Company LLC | February 17, 2014
Automated Property Data Collection, Analysis, Performance Reports, and Forecasting Raise Operating Standards, Support Steady Growth for Multiple Ownership Groups February 17, 2014 - "Strand Development prides itself on providing its owners with effective and accurate financial reporting on a timely basis - there is no room for error, no room for tardiness," says John Johnson, Strand's CFO. "We know that our continued relationship is contingent on delivering solid bottom line results. This is our top priority." With 56 properties and multiple ownership entities, Strand relies on its corporate business intelligence system to automate the...
Casino Rama Installs InvoTech Uniform System; Reduces Labor 15 Hours Daily
InvoTech Systems | February 13, 2014
New UHF-RFID System Helps Luxury Resort Grow with Greater Efficiency, Automated Uniform Laundry Processing LOS ANGELES, CA - February 13, 2014 - InvoTech Systems, Inc., a leading provider of systems that integrate the latest RFID technology to increase profitability for hotels, casinos, hospitals, and commercial laundry operators, announced Canada's Casino Rama implemented its Uniform System to track and maintain the asset value of the casino resort's 15,000 uniforms. Click here for more information on InvoTech's Linen, Uniform, and Laundry Systems. "Our team estimates we save 15 hours a day in labor with InvoTech. This is huge," said H...
Plans for Oxford Suites Paso Robles in California Approved by City
BuildCentral | February 3, 2014
Hotel-Online and BuildCentral Add/Update 167 Hotel Projects to the New Hotel Construction Projects Database Chicago, IL. February 3, 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: Harbor Bay Club Hotel (Alameda , CA) Statler Hotel Site Redevelopment/Fitzgerald Place Complex (D...
InvoTech Systems Installs Uniform, Linen, and Laundry Management Systems at Canouan Resort
InvoTech Systems | January 30, 2014
Luxury Caribbean Resort Implements UHF-RFID Inventory Tracking Systems to Control High-Value Uniform and Linen Assets LOS ANGELES, CA - January 30, 2014 - InvoTech Systems, Inc. announced that the luxury Canouan Resort on Canouan Island Heart of the Grenadines installed the InvoTech UHF-RFID System for managing the resort's uniforms, linens, and laundry operations. InvoTech is a leading provider of systems that integrate the latest RFID technology to increase profitability for hotels, casinos, hospitals, and commercial laundry operators. Click here for more information on InvoTech's Linen, Uniform, and Laundry Systems. InvoTech Uniform,...
Cornell Study Shows Use of Economic Value Added (EVA) as Barometer of Hotels’ Investment Performance
The Center for Hospitality Research | January 29, 2014
Ithaca, NY, January 29, 2014 - A study from the Cornell School of Hotel Administration demonstrates the use of economic value added (EVA) as a measurement of hotels' investment performance. The study, "Using Economic Value Added (EVA) as a Barometer of Hotel Investment Performance," by Matthew J. Clayton and Crocker H. Liu, is available at no charge from the Cornell Center for Hospitality Research (CHR). The report is issued in conjunction with the Center for Real Estate and Finance (CREF) at the School of Hotel Administration. "EVA is a well known investment tool, and it works very effectively as a barometer of investment performance f...
Three Hotel Companies Select Aptech Execuvue Business Intelligence, Profitvue Enterprise Back Office
Aptech Computer Systems | January 29, 2014
Companies Including MHG Hotels and LTS Hospitality Management Selected Aptech ASP Financial Solutions for Faster Goal Achievement at Property and Corporate Levels Pittsburgh, PA - January 29, 2014 - Aptech Computer Systems, Inc., the leading provider of hospitality software for business intelligence and enterprise financial accounting, announced that three hotel companies with a total of 20 properties selected Aptech Execuvue® Business Intelligence and Profitvue® Enterprise Back Office systems. New Aptech clients include MHG Hotels, LLC. and LTS Hospitality Management. Click here for more on Aptech's products and services. Execuvue is...
New outsourced revenue management startup in Orlando
BestRev.com | January 23, 2014
BestRev, LLC, is a new revenue management consulting startup, based in the Orlando, FL area. With core competencies in the areas of revenue management, rate and inventory management, online distribution and channel management, the team at BestRev is now offering their services to independent and franchise hotel properties of all sizes. According to CEO and co-founder, Zephyr Gentry, "We recognize the need that independent and franchise owners have every day: for solid expertise and know-how in the ever-changing world of e-commerce, as it relates to hotels specifically, and the travel industry, in general. The old approaches just don't w...
InvoTech and T-Y Group Partner to Simplify Linen Supply and Control for Grand Beach Hotel Surfside
InvoTech Systems | January 22, 2014
Miami's Luxury Grand Beach Hotel Surfside Opens with Easy-Install UHF-RFID Linen System to Protect Valuable Assets LOS ANGELES, CA - January 22, 2014 - InvoTech Systems, Inc. announced that the Grand Beach Hotel Surfside installed InvoTech's UHF-RFID Linen System to protect the property's high-value linen investment. T-Y Group provided the hotel with 50,000 linen items pre-tagged with durable UHF-RFID laundry tags to enable instant, simplified linen inventory and tracking. InvoTech is a leading provider of systems that integrate the latest RFID technology to increase profitability for hotels, casinos, hospitals, and commercial laundry o...
The Rainmaker Group Names Chris Clement Director, Hospitality Sales
Rainmaker | January 22, 2014
Veteran Ex-Marriott International Sales and Revenue Management Executive Calls GroupREV® One of Industry's Hidden Gems ATLANTA, GA - January 22, 2014 - The Rainmaker Group, a world leader in automated profit optimization software and services for the gaming/hospitality industry, is pleased to announce the addition of veteran executive Chris Clement as Director, Hospitality Sales. In his new position, he will spearhead sales initiatives of GroupREV® - Rainmaker's sophisticated, yet to simple-to-use sales empowerment tool for group forecasting and pricing - a product Clement maintains is one of the industry's "hidden gems." "There is no...
Feasibility Study Starts for Planned USC Hotel and Conference Center
BuildCentral | January 20, 2014
Hotel-Online and BuildCentral Add/Update 168 Hotel Projects to the New Hotel Construction Projects Database Chicago, IL. January 20, 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: CIA Hotel (Hyde Park, NY) Ashford Dunwoody Hotel (Dunwoody, GA) Alta Colorado Lodge and Resort (L...
