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Hospitality Financial and Technology Professionals | June 25, 2024
Industry Happenings
Columbia-Sussex Corp. Adopts Tropicana Name for its Corporate Identity in Advance of Multi-billion dollar Investment in the Legendary Brand / May 2007
April 25, 2019
Tropicana has one of the most recognized names in gaming, said William J. Yung, III, CEO of the privately held casino company, and we intend to leverage that awareness with a multi-billion dollar investment in the Tropicana brand over the next several years. So, it makes sense for us to unify our identity to take advantage of the brand equity well be creating across the country. The companys flagship property in Las Vegas is on its way to becoming a 10,000 room casino, resort and convention destination. When it is completed in 2010, the resort will include a 600,000 square foot state-of-the-art convention facility, f...
1997 Resort Timeshare Study / June, 1997
April 25, 2019
INDIANAPOLIS--(BUSINESS WIRE)--June 3, 1997--Resort Condominiums International, Inc. (RCI) released the results today of a new U.S. performance study conducted by its research arm, RCI Consulting, Inc. (RCIC). The Resort Timeshare Industry in the United States: 1997 details trends and characteristics of 294 resort timeshare developments that are currently operating marketing and sales programs. The 294 resorts represent roughly 28 percent of the total universe of 1,055 U.S. timeshare resorts. It has been four years since a similar study was released. Industry analysts, the investment community and resort developers view the 199...
SRS Hotels Selects WorldRes and Places to Stay / June, 1997
April 25, 2019
SAN MATEO, C.A., June 3 -- SRS Hotels, a consortium of more than 330 hotels in 56 countries, has selected WorldRes, Inc. as its newest Internet booking system. The announcement was made jointly today by Peter Agel, chief executive of SRS Hotels (based in Frankfurt, Germany) and Eric Christensen, chief executive officer of WorldRes. With this agreement, SRS properties will be featured on WorldRes' Places To Stay Web site (http://www.placestostay.com) with online reservation capability. According to Agel, "We were attracted to WorldRes because of its superior Internet booking engine and its ability to interface with ou...
Mirage 3rd Quarter 1997 Results
April 25, 2019
The company has now reported year-over-year increases in earnings per share in 14 of the past 15 quarters. This was the best third quarter in the company's history. The earnings growth was led by the company's flagship property, The Mirage, which had the best quarter in its history. Its revenues and operating cash flow increased by 19 percent and 35 percent, respectively, over the third quarter of 1996. These results reflect increases in table games activity (9 percent), slot win (13 percent) and table games win percentage. Standard room occupancy at The Mirage remained very high, at 99.4 percent, with a slight increase in the av...
Mirage Resorts / Second Quarter 1997 Financial Results
April 25, 2019
Mirage Resorts Inc. reported second-quarter earnings of 26 cents per share, a 24 percent increase over the prior-year period. Mirage Resorts has now achieved year-over-year earnings increases in 13 of the past 14 quarters. The earnings improvement was led by the company's flagship resort, The Mirage, which achieved a 13 percent increase in revenues and a 33 percent increase in operating income. The Mirage's gaming revenues increased by 24 percent as a result of higher activity levels and an increase in its table games win percentage. Its nongaming revenues rose by 4 percent, reflecting stable occupancy, higher room rates and t...
Mirage Resorts / First Quarter 1997 Management Discussion
April 25, 2019
Financial Highlights The 1997 first quarter was the second best quarter in the Company's history, nearly equaling the previous record set in the first quarter of 1996. Earnings per share before an extraordinary charge were $0.30, versus $0.33 in the 1996 first quarter. Earnings in both quarters included non-recurring items. The 1997 quarter included a gain of $3.6 million ($2.4 million, or $0.01 per share, after tax) related to the sale and exchange of land in Las Vegas. The 1996 first quarter included a gain of $8.0 million ($5.2 million, or $0.03 per share, after tax) associated with the sale of the Company's interest in a small ...
April 25, 2019
Hotel. Online Press Releases Micros Systems, Inc. Provides Complete POS System to Worlds Largest Cruise Ship - The Carnival DestinyFebruary 5, 1997, Beltsville, MD -- MICROS Systems, Inc., one of the world's leading providers of hospitality information technology, today announced that Carnival Destiny, the worlds largest cruise ship, has selected the MICROS PC Workstations (PCWS) and the MICROS 8700 Hospitality Management System (HMS) to manage its on-board food, beverage, and photo operations. The MICROS PCWS is a fully functional PC that combines the industrys largest touchscreen display with an integrated CPU in a single c...
Reservation Sales Training Program Available via the Internet is Enhanced / March 1999
April 25, 2019
The STAR (Sales Training for Agents in Reservations) workshop is more effective and less expensive than traditional seminar style training programs. Revisions to the workshop have been introduced as a result of suggestions generated by users since introduction in July of 1998. The workshop has been personalized and individual user tracking enhanced to provide improved reporting. The revised workshop teaches agents to sell a reservation using an easy and enjoyable interactive format that includes text, and audio. Instant feed back on performance is provided by way of multiple choice and fill-in-the-blank answers as well as quality ...
Prime Hospitality to Expand Homegate Product Line; Divest Non-Prototype Properties / July 1998
April 25, 2019
Prime currently has 46 HomeGate Studios Suites hotels in operation or under construction. These mid-priced extended-stay hotels feature a combination of studios for value-conscious travelers, and more spacious suites which command higher room rates. By contrast, HomeGate Suites will solely feature spacious suites, including both one- and two-bedroom accommodations. The introduction of HomeGate Suites allows Prime to take advantage of strong demand and limited competition in the $60-80 daily price range in the extended-stay market. "The HomeGate Suites concept is positioned perfectly between Residence Inns, the upscale market leader,...
Inter-Continental Hotels and Resorts joins TravelWeb Click-it!
April 25, 2019
Hotel. Online Press Releases Inter-Continental Hotels and Resorts joins TravelWeb Click-it! Weekends Melanie Baker Vice President, Corporate Communications Melanie_Baker@interconti.com(London - 10 April 1997) Anyone seeking a last-minute weekend get-away in Europe now need travel no further than their personal computer to find discounted rates at Inter-Continental's luxury hotels and resorts for the coming weekend. Prices for the weekend of April 11 - 13 include £53 (£106 normal rate) at the Forum Hotel Berlin, £76 (£146 normal rate) for the Ceylan Inter-Continental Istanbul, £82.50 (£150 normal rate) for the George Inte...
Hospitality Worldwide Services 3/27/97
April 25, 2019
Hotel. Online Press Releases Hospitality Worldwide Services IncContact: Mitch Parker Thursday March 27 8:00 AM EDT HOSPITALITY WORLDWIDE SERVICES ESTABLISHES DIVISIONAL STRUCTURE TO FACILITATE ITS CONSOLIDATION STRATEGYLeonard Parker Appointed Chairman And Robert Berman Named President and CEO Thursday March 27, 1997 Hospitality Worldwide Services Inc Thursday announced that to more efficiently implement its consolidation strategy in the hotel renovation and procurement businesses, chief executive officer Alan Friedberg has been appointed president of the company's new Renovation Division and Douglas Parker will become preside...
Hospitality Worldwide Services 3/27/97
April 25, 2019
Hotel. Online Press Releases Hospitality Worldwide Services IncContact: Mitch Parker Thursday March 27 8:00 AM EDT HOSPITALITY WORLDWIDE SERVICES ESTABLISHES DIVISIONAL STRUCTURE TO FACILITATE ITS CONSOLIDATION STRATEGYLeonard Parker Appointed Chairman And Robert Berman Named President and CEO Thursday March 27, 1997 Hospitality Worldwide Services Inc Thursday announced that to more efficiently implement its consolidation strategy in the hotel renovation and procurement businesses, chief executive officer Alan Friedberg has been appointed president of the company's new Renovation Division and Douglas Parker will become presid...
Homegate Hospitality announces first quarter results – 5/5/97
April 25, 2019
Homegate Hospitality announces first quarter resultsReports increase in occupancy ratesAUSTIN, Texas--(BUSINESS WIRE)--May 5, 1997--Homegate Hospitality (NASDAQ:HMGT) today announced operating and financial results for the first quarter ended March 31, 1997. Room revenues for the first quarter improved to $1.9 million, a 21.3% increase compared to $1.6 million in the fourth quarter of 1996. The net loss for the first quarter was $474,000, or $0.04 per share. The loss for the quarter was anticipated as the Company continues its aggressive growth plan to develop a national chain of midprice extended-stay hotels under the HOMEGATE Studio...
HILLIER TO DESIGN FOUR-STAR HOTEL IN SAIPAN -April 1997
April 25, 2019
Hotel. Online Press Releases HILLIER TO DESIGN FOUR-STAR HOTEL IN SAIPANCONTACT: Nikki Stern (609) 452-8888 email: NStern@hillier.comPrinceton, New Jersey (April, 1997) - The Hillier Group, Architects, in association with Charles D. Jordan, AIA & Associates, Ltd., has been chosen to provide architectural services for a new luxury resort hotel on the island of Saipan. The project will be handled by designers with the firms Hospitality Studio, supported with mechanical, electrical, plumbing and fire protection services by Hilliers Clarks Summit office.The four-star hotel will actually be built into the side of Mount Tapochau in a ...
Coopers Lybrand Lodging Consultants Forecast / March 97
April 25, 2019
Hotel. Online Press Releases Coopers Lybrand Lodging Consultants ForecastIn Lodging Boom, Not All U.S. Regions Will Prosper Equally But Even in Underperforming Regions, Numbers Still Good, Firm SaysNEW YORK, March 21 -- The U.S. hotel industry -- led by the Northeast and Pacific regions -- will experience another year of record profits in 1997, but the nation's Central region will lag the others in the boom, according to a just-released econometric forecast by the Coopers Lybrand L.L.P. lodging and gaming consulting practice. In the Central region, a rush of new hotel room supply will mix with flattening regional demand growth to p...
The Condo Viêt Nam Corp. Canada Ltd unveils construction of a Five Stars Apartotel Resort in Viêt Nam / June, 1997
April 25, 2019
Montreal, June 5th. 1997 (Contact: Gilles Lavigueur lavigueur@sympatico.ca ) The Condo Viêt Nam Corporation Canada Limited has unveiled today its project of construction of a Five Stars Apartotel Resort in Viêt Nam. Business and commercial international relations as well as tourism are in constant evolution in Viêt Nam since its opening to the Market Economy which is developing itself day after day in this most dynamic emerging country of South-East Asia. That is the reason why a consortium of business people from Quebec who have contributed in their own sectors to the building of their country in the recreo-touristic ...
Major Findings of the 1997 U.S. Lodging Almanac / Bear Stearns / May, 1997
April 25, 2019
Hotel. Online Press Releases Bear Stearns Introduces Major Lodging Industry Study: The 1997 U.S. Lodging Almanac Major Findings of the 1997 U.S. Lodging AlmanacCONTACT: NEW YORK May 8, 1997 - In our opinion, there is still growth potential for the industry as supply/demand fundamentals remain positive, the trend toward consolidation continues, and the general economic outlook remains bright. And although we see the days when any lodging company could prosper as coming to an end, we also believe that the strongest companies with savvy management, a clear corporate vision, and an orientation toward growth (both through acquisitions a...
Avatar Technology 3/17/97 Press Release
April 25, 2019
Press Releases Avatar Technology "Bringing Concepts to Reality" P.O. Box 696, Petoskey, Michigan 49770 Phone (616) 348-0958 Fax (616) 348-0963 http://www.avatartechnology.com email: mmd@freeway.netNewsMichigan - March 17th , 1997 - Avatar Technology today announced its Front Desk Resort Management System, the first in a series of resort management products. It's the first Resort Management System (RMS) to utilize Windows® technology. Until now, every hotel and resort has had to keep track of reservations and guests by using a master register book; usually with dates across the top, room numbers down the side, and guest na...
Aston Appoints New General Manager at the Honolulu Prince -3/27/97
April 25, 2019
Press Releases Aston Hotels & ResortsANA Kalakaua Center2135 Kalakaua Avenue, Suite 500Honolulu, HI 96815-2354PH: 808-931-1400, Website: http://www.aston-hotels.comAston Appoints New General Manager at the Honolulu PrinceHonolulu, HI (March 24, 1997) - Aston Hotels & Resorts, Hawaiis largest hotel and condominium resort operator, has appointed Monica Shiffer as its new general manager at the Honolulu Prince, effective Feb. 6. She replaces Dawn Paiaina, who has relocated to the Big Island.Shiffer oversees all daily operations of the 123-room hotel, which is centrally located in the heart of Waikiki.Most recently, she assisted with...
Aston Hotel & Resorts Expands into Bali – 3/17/97
April 25, 2019
Press Releases Aston Hotels & ResortsANA Kalakaua Center2135 Kalakaua Avenue, Suite 500Honolulu, HI 96815-2354PH: 808-931-1400, Website: http://www.aston-hotels.comAston Hotel & Resorts Expands into BaliHonolulu (March 19,1997) - Aston Hotels & Resorts announced today it had signed an agreement to open a operate the Aston Bali Resort, a 189-room luxury beachfront resort currently under construction on the Tanjung Benoa Peninsula adjacent to Balis Nusa Dua area.Aston is the first Hawaii-based management company to operate hotels in Bali. The new four-story resort has been designed in a U-shape to provide most rooms wit...
Santi Mandala Villa & Spa in Bali Adopts Hotelogix to Automate Operations
Hotelogix | April 25, 2019
Hotelogix, a leader in cloud-based Property Management Systems has announced that it has been selected as the preferred technology partner by Santi Mandala Villa & Spa in Bali. With Hotelogix cloud PMS in place, the management at this exotic property aims to automate its entire operations. Spread across 3.5 hectares of a tropical hideaway in Southern part of Ubud, Santi Mandala Villa offers a luxurious stay to its patrons with 27 well-appointed Balinese-style villas. In Bali, this is the only property that offers floating villa. During their stay, guests can also learn Balinese cuisine and dance. This place is one of the most popular d...
How Hotels Can Profit From Product Placement
Larry Mogelonsky | April 24, 2019
By Larry Mogelonsky, MBA, P. Eng. (www.hotelmogel.com) Product placement has been a subtle revenue source for Hollywood for many decades now. For instance, have you ever watched a movie and noticed that all the cops and robbers were driving only one brand of car? Or that every actor on a television show only drinks exclusively Coke or Pepsi but never both? It's undeniably influential. More recently, however, hoteliers have started to realize that their properties can offer perfect symmetry with many brands that want trial from their target audience, especially when those brand's key demographics match that of a property's guests. Exampl...
HVS Market Pulse: Anaheim, California
Jessica White | April 24, 2019
By Jessica White Market Overview Since 1955, Anaheim's economy has been driven by The Walt Disney Company, which is also the largest private-sector employer in Orange County with nearly 32,000 employees. Its local operations include Disneyland and the California Adventure theme parks, three Disneyland hotels, and Downtown Disney (a shopping and entertainment area). The area's lodging market is also supported by the Anaheim Convention Center, which currently provides the largest convention facilities on the West Coast. As Disney and the convention center have expanded, the City of Anaheim created the Anaheim Resort Area (ARA) in 1994 to ...
Human Trafficking: What Hotels Are Doing to Prevent It
Samuel Wich | April 24, 2019
By Samuel Wich According to the Global Slavery Index, an estimated 40.3 million men, women, and children were victims of modern slavery on any given day in 2016. With the International Labor Organization estimating annual profits from forced labor at 150 billion USD, it is the world's second largest criminal industry and affects all countries. The victims of these crimes have to endure forced labor, sexual exploitation, organ removal or forced marriage. The fight against modern slavery starts by acknowledging and identifying the issue. In 2015, the UK government intensified their efforts by issuing the Modern Slavery Act, calling for mo...
