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
Top 4 Hotel Financing Obstacles And How to Get Around Them / Brian Holstein
Brian Holstein | September 16, 2013
Do you have upcoming hotel financing needs? Whether you are in the market for a simple refinance or acquisition financing, a discounted-payoff (DPO) financing or a PIP-induced recapitalization, the same rules apply. The hotel loan market has been on a good run for the last twelve months with competition among lenders heating to a point not seen since prior to the financial crisis. Lenders are beginning to focus increasingly on areas outside of pricing and leverage in order to preserve loan profitability and keep mortgage leverage below the aesthetically pleasing 70% loan-to-value level. SIMPLY PUT, WHAT THIS MEANS FOR HOTEL LOAN BORROWE...
Robert T. Koger of Molinaro Koger is Arrested and Put Behind Bars
September 12, 2013
A shocking course of continuing fraudulent conduct is unveiled by the JMBM Global Hospitality Group® For the most recent update on this topic, click here By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 12 September 2013 Hotel Lawyer with the latest on the arrest and jailing of Rob Koger, formerly of Molinaro Koger There are some significant new developments in the saga of Robert T. ("Rob") Koger and the high profile civil and criminal cases surrounding him. Here is the latest. (Earlier articles are cited below.) On Monday, September 9, 2013, Robert T. Koger, 47, was arrested and brought ...
Revenue Management is Not Inventory Management
Duetto | September 11, 2013
By Marco Benvenuti, co-Founder and Chief Analytics + Product Officer, Duetto September 11, 2013 Revenue management is not inventory management. And inventory management is definitely not revenue management. Confusing the two, is not just an intellectual faux pas - it is a sure way to leave money on the table, as you attempt to optimize rate at your property. Revenue management is a dynamic function, where the target-demand-changes, literally, every second - and the strategy and pricing must change to reflect it. Inventory management is managing rates to meet budgeted goals. It's pricing to sell rooms that fit into predetermined allotmen...
Architect Announced for 150-Room Downtown Asheville Hyatt Hotel
BuildCentral | September 9, 2013
Hotel-Online and BuildCentral Add/Update 100 Hotel Projects to the New Hotel Construction Projects Database Chicago, IL. September 9, 2013 - Hotel-Online and BuildCentral have added or updated 100 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: Hampton Inn (Tallahassee, FL) Industrial District Hotel (Plymouth Charter Township, MI) UC Irv...
Aptech Business Intelligence and Accounting Selected by 9 Hotel Companies with 120 Properties
Aptech Computer Systems | September 9, 2013
Multi-Property Operators Tap Aptech for Execuvue® Enterprise Business Intelligence with Easy to Use Reporting; Targetvue Corporate Budgeting; Profitvue® and Webvue® Centralized Back Office Accounting to Manage with Real Numbers for Growth and Better Business Decisions Pittsburgh, PA - September 9, 2013 - Aptech Computer Systems, Inc., the leading provider of hospitality software for business intelligence and enterprise financial accounting, announced 9 hotel companies with a total of more than 120 properties selected Aptech's business intelligence, budgeting and accounting solutions. Click here for more on Aptech's products and servi...
1H 2013 Total Hotel Transactions Increase Slightly (YoY); Portfolio Transactions Begin to Accelerate
Lodging Econometrics | September 5, 2013
September 5, 2013 - Lodging Econometrics' (LE's) report: For 1H 2013 Total Hotel Transactions and Property Transfers improved to 604 hotels/ 85,200 rooms, up 240 hotels over the 1H 2012 total of 364 hotels. Of the 240 hotels, 216 were for hotels sold within portfolios. Individual transactions at 334 hotels are up only 32 hotels Year over Year (YoY). M&A Property Transfers are non-existent but are expected to accelerate as the first leg of the real estate cycle is likely to draw to a close over the next 12 – 18 months. Transaction volume is a long way from the record of 3,218 hotels/ 441,617 rooms set in 2007, just as the financial...
NATHIC 2013 Moves to Chicago, Becoming Midwest’s Sole Investment Event
Questex Hospitality + Travel | September 4, 2013
NEW YORK (Sept. 4, 2013) ─ Questex Hospitality + Travel, the world's largest multinational media, event and e-commerce company serving the global hospitality and travel industry, today announced that its North America Hotel Investment Conference (NATHIC) will be held Nov. 20-22 at the newly renovated Hyatt Chicago Magnificent Mile, becoming the only event of its kind in the Midwest. Now in its fifth year, the two-day event, previously held in Washington, has been re-energized with a new venue and enhanced agenda including a hospitality real estate showcase with top brokers and a "hotel shark tank" competition based on the popular real...
Hotel Assets Group Closes Five Hotel Transactions in August
Hotel AG | September 3, 2013
ATLANTA - September 3, 2013 - Hotel AG announced today the firm closed 5 hotel transactions in the month of August. The hotels sold consisted of 1 Hilton, 1 Marriott, 2 Choice brands and 1 bank-owned independent property. All 5 assets were select service hotels located from the Northeast to the Mid West. Brad Sinclair, a senior partner with Hotel AG, commented, "The market today is very transaction friendly and buyers are still able to realize accretive value." Andy Broad, also a senior partner with the firm, further commented, "With the recent movement in the public debt markets, the buying community seems to have accelerated in the de...
HITEC Video Report: InvoTech Showcases Latest Labor Saving UHF-RFID Linen and Uniform Systems
InvoTech Systems | September 3, 2013
InvoTech Launches New Touch-Screen Controls for Bulk Laundry Cart Reading Station; Demonstrates Mobile Software and Wi-Fi Handheld Reader that Simplifies Uniform and Linen Inventory Management, Reduces Labor Hours LOS ANGELES, CA - September 3, 2013 - – InvoTech Systems, Inc., the leading provider of solutions that increase profitability for hotels, casinos, laundries and related industries, produced a 2-minute video highlighting its newest UHF-RFID System for Hotel Uniform and Linen management at the recent HITEC tradeshow in Minneapolis, MN. InvoTech celebrated 20 years of industry service and customer focused technology development...
New Property Manager for 411-Room The Westin Chicago North Shore
BuildCentral | September 3, 2013
Hotel-Online and BuildCentral Have Updated 215 Hotels in the Last Two Weeks with Changes in Personnel, Property Management or Ownership Chicago, IL. September 3, 2013 - Hotel-Online and BuildCentral have reported 215 changes in personnel, property management and ownership in the Hotel Profiles database over the last two weeks. Many hotels are getting a fresh start with a new Owner, Property Manager or General Manager. Recommend your product or service to someone who might be looking for a change. Hotels Under New Management: Dallas Marriott Suites Medical/Market Center (Dallas, TX) Residence Inn Palm Desert (Palm Desert, CA) Resid...
Pebblebrook Hotel Trust Acquires the 174-room Hotel Modera in Portland, Oregon for $47.5 Million
Pebblebrook Hotel Trust | August 29, 2013
BETHESDA, Md. - August 29, 2013 - Pebblebrook Hotel Trust (NYSE: PEB) (the "Company") today announced that it has acquired the Hotel Modera for $47.5 million. The 174-room, urban, boutique, upper upscale, full service hotel is located in downtown Portland, Oregon. The property will be managed by OLS Hotels and Resorts ("OLS"). As a part of this transaction, the Company is assuming a $23.7 million secured, non-recourse loan, with the balance of the purchase price being funded by the Company with available cash. "We're thrilled to acquire the Hotel Modera in the west coast gateway city of Portland and expand our presence in the highly des...
Construction Slated to Start for 155-Room Cross County Shopping Center Hyatt Place in Q4 2013
BuildCentral | August 26, 2013
Hotel-Online and BuildCentral Add/Update 145 Hotel Projects to the New Hotel Construction Projects Database Chicago, IL. August 26, 2013 - Hotel-Online and BuildCentral have added or updated 145 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: Downtown Hotel - Hyatt Place (Asheville, NC) Laura Street Trio Development (Jacksonville, FL) Gra...
Hospitality Upgrade Video Release: Experts Share Their List of the Top Trends in Revenue Management
Hospitality Upgrade | August 23, 2013
Hospitality Upgrade interviews industry experts at HSMAI ROC 2013 to gain insight into the top trends in revenue management Atlanta, Ga. - In a video release from Hospitality Upgrade Magazine earlier this week, Hospitality Sales and Marketing Association International (HSMAI) President and CEO Bob Gilbert discussed the educational sessions of the 2013 HSMAI ROC (Revenue Optimization Conference), in which speakers identified several companies that are expected to be game changers in the future of revenue management. In addition to Gilbert, several industry experts weighed in on the conference as a whole, as well as the key...
Video release: Recap from the 2013 HSMAI ROC – Takeaways and Gamechangers to Watch
Hospitality Upgrade | August 21, 2013
Atlanta, Ga. - Hospitality Upgrade interviewed HSMAI's President Bob Gilbert and several other hospitality revenue management experts at the 2013 HSMAI ROC (Revenue Optimization Conference). This event is a mashup of corporate revenue managers from all the major hotel brands, management companies and ownership groups. Boasting the largest event in it's history, 110 hotel companies joined in Minneapolis, Minn. this past June for this annual event celebrating its 10th anniversary. Vice President, Revenue Management for Evolution Hospitality Scott Roby said, "It has been fun to watch the growth of this conference over the years. The topics co...
Deloitte Survey Finds Airline Loyalty Programs Miss the Mark on Encouraging Real Loyalty
Deloitte's Travel, Hospitality and Leisure Practice | August 20, 2013
Survey Reveals 72% of High-Frequency Business Travelers Participate in Multiple Programs NEW YORK, Aug. 20, 2013 -- Deloitte today released "Rising above the Clouds: Charting a course for renewed airline consumer loyalty," an inaugural survey that provides insights into consumer travel behavior and loyalty program satisfaction in the airline industry. The survey indicates airline loyalty programs are not as effective as they could be in driving loyalty among their core audience of frequent travelers. A surprising 72 percent of "high-frequency" business travelers participate in two or more programs, while more than one-third participate ...
Seven Days of Revenue Management Success – Part Two By Jean Francois Mourier
REVPAR GURU | August 20, 2013
By Jean Francois Mourier August 20, 2013 This is the second part of our two-part series Seven Days of Revenue Management Success, which offers seven tips (one for every day of the week) that can increase in your property's bookings and RevPAR, and ensure that you have seven days of revenue management success every single week. Last week, we released Part One of this article, which outlined the revenue management tips for Monday through Wednesday. In case you missed the article, the tips were: Monday: Forget your comp set Tuesday: Let technology play its role Wednesday: Think outside pricing patterns This week, we are going to ou...
Wind Creek Wetumpka Casino Hotel Selects InvoTech RFID System to Manage Uniforms for Staff of 900
InvoTech Systems | August 19, 2013
New Property Chooses Reliable InvoTech Inventory Solution for Uniform Control and Operating Efficiency LOS ANGELES, CA - August 19, 2013 - InvoTech Systems, Inc. announced that the Wind Creek Wetumpka Casino and Hotel will install InvoTech's UHF-RFID Uniform System. The new-build property chose InvoTech to streamline the management of 8,000 uniforms for 900 employees. Click here for more information on InvoTech's Linen, Uniform, Laundry, and Security Systems. Wind Creek Wetumpka is the Poarch Band of Creek Indians' latest hotel and casino. The $246-million property is on schedule for completion in winter 2013/2014. "We are delighted to ...
Abu Dhabi Fund Buying 3 Editions from Marriott. What Does this Mean to Marriott & the Edition Brand?
August 19, 2013
by the JMBM Global Hospitality Group® For the most recent update on this topic, click here By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 15 August 2013 Hotel Lawyer on the reported sale by Marriott of 3 Edition hotels. Craig Karmin and Alexandra Berzon of the Wall Street Journal broke a big story yesterday evening which appeared in the August 15, 2013 US edition of the paper at page C3. The headline is "Marriott Close to Deal to Sell Three Hotels to Abu Dhabi Fund." The story, in which I am quoted, describes reports from people close to the deal, that Marriott International is about to...
The Hard Rock Hotel San Diego – a Condo Hotel – did NOT Offer “Securities”
August 15, 2013
According to new appellate court decision in Salameh v. Tarsadia Hotel. Lower district court dismissal upheld. by the JMBM Global Hospitality Group® For the most recent update on this topic, click here By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 14 August 2013 Hotel Lawyers on "hotel condo" units as securities (or NOT). An important decision on when a condo hotel does NOT involve the sale of a "security" One of the most significant challenges for developers of a condo hotel project is whether the sale of the condo units constitutes the sale of a "security." If it does, the princi...
The Smart Hotelier’s Guide to 2014 Digital Marketing Budget Planning
The Authors and HeBS Digital | August 14, 2013
By Max Starkov & Mariana Mechoso Safer Hoteliers, we have just passed the mid-year mark and it's time to plan your digital marketing budgets for next year. Budgeting season is the ideal time to assess your business objectives, as well as audit the performance of the initiatives you invested in this year. 2014 is expected to be another great year in hospitality. To start with the good news, travel demand is projected to be up by 3.3 percent while supply will be up only one percent (PKF). All three key performance metrics are expected to experience positive growth over the already robust growth in 2013. The U.S. hotel industry's occup...
Seven Days of Revenue Management Success – Part One By Jean Francois Mourier
REVPAR GURU | August 13, 2013
By Jean Francois Mourier August 13, 2013 In our office, we like to begin each week as an opportunity for new successes. We forget about the challenges and obstacles we may have experienced the week prior, because every week is a chance to start over. Each week is a chance for our team to strive for excellence, and so far, it's a philosophy that has served us well. Today, it is your property's chance to start over as well. You can revamp your revenue management strategy, simply by following these seven simple steps. Using these tips, you will see drastic increases in your bookings and RevPAR, and ensure that your property has seven days ...
Pebblebrook Hotel Trust Acquires The 57-room Redbury Hotel in Hollywood, California
Pebblebrook Hotel Trust | August 12, 2013
BETHESDA, Md.--August 12, 2013--Pebblebrook Hotel Trust (NYSE: PEB) (the "Company") today announced that it has acquired the award-winning Redbury Hotel for $34.0 million. The 57-room, all-suite, luxury, full-service hotel is located in the center of Hollywood, California. The property will continue to be managed by sbe Hotel Group ("sbe"). "We're thrilled with the acquisition of the Redbury in the dynamic, high-barrier-to-entry Hollywood neighborhood," said Jon Bortz, Chairman, President and Chief Executive Officer of Pebblebrook Hotel Trust. "The hotel is ideally located at the corner of Hollywood Boulevard and Vine Street in the cent...
888 Sepulveda Hotel Development Announced for El Segundo, CA
BuildCentral | August 12, 2013
Hotel-Online and BuildCentral Add/Update 93 Hotel Projects to the New Hotel Construction Projects Database Chicago, IL. August 12, 2013 - Hotel-Online and BuildCentral have added or updated 93 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: Hampton Inn Hotel (Lexington, KY) Pittsburgh Technology Center Hotel (Pittsburgh, PA) The Greens at...
Why Data and Analytics is Revenue Management’s Reason for Being
EyeforTravel | August 6, 2013
August 6, 2013 - Revenue management professionals acknowledge that change is afoot and are gearing up to move with the times as the discipline enters new territory. Ritesh Gupta gets a look into the future in this exclusive interview with Ankur Randev of Highgate Hotels. In the next decade change in the discipline will accelerate, says Ankur Randev, vice president - revenue and distribution, Highgate Hotels. He believes the role of a revenue management professional will continue to evolve from rudimentary pricing and inventory management to having a more defined focus on total product management. This will include having responsibility ...
