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Hospitality Financial and Technology Professionals | June 25, 2024
Industry Happenings
Braemar Hotels & Resorts Enters Agreement to Sell the Renaissance Tampa for $68 Million ($232,000 Per Key)
| May 9, 2018
DALLAS, May 9, 2018 -- Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") announced today that it has signed a definitive agreement to sell the 293-room Renaissance Tampa International Plaza hotel ("Renaissance Tampa" or the "Hotel") in Tampa, Floridafor $68 million ($232,000 per key). The sales price represents a trailing twelve-month cap rate of 8.2% on net operating income and a 10.0x Hotel EBITDA multiple as of March 31, 2018. The transaction is expected to close during the second quarter. The closing of the sale is also expected to complete a reverse 1031 exchange that...
OTA Association Slams Direct Bookings
Lily McIlwain | May 9, 2018
By Lily McIlwain By this point, the number of studies testifying to the positive impact of direct bookings - and the sometimes harmful influence of OTAs - is approaching too many to count. Whether it's in terms of the revenue share for hotels or the experience of guests, there's plenty of evidence to suggest that booking directly through a hotel website benefits all parties involved. Therefore when we saw last week that the European Technology and Travel Services Association (ETTSA) had released a report stating that "the major incentive for hoteliers to push direct sales is to reduce transparency for customers," we we...
Owned and Managed by Talbot Hotels S.A. the Hyatt Centric San Isidro Lima and Hyatt Centric Las Condes Santiago Open in Peru and Chile
The Hyatt Centric Experience | May 9, 2018
CHICAGO (May 9, 2018) – Hyatt Hotels Corporation (NYSE:H) today announced the opening of the 166-room Hyatt Centric Las Condes Santiago, and the opening of the 254-room Hyatt Centric San Isidro Lima on May 7, 2018, marking the Hyatt Centric brand's entry into these two South American countries. Hyatt Centric Las Condes Santiago is the second Hyatt hotel in Chile, joining Hyatt Place Santiago/Vitacura, and Hyatt Centric San Isidro Lima is the first Hyatt hotel to open in Peru. Both new hotels are owned and managed by Talbot Hotels S.A., as part of franchise agreements entered into with a Hyatt affiliate. "We are thrilled to announc...
IHG Expands in Western China With Signing of 10 New Deals Under 7 Brands
IHG | May 9, 2018
InterContinental Hotels Group (IHG®), one of the world's leading hotel companies, has today announced the signing of ten new deals under seven of its brands in Western China. The ten hotels will span several different tiered cities and well-known destinations in Sichuan, Chongqing, Shaanxi, Yunnan, Gansu, Guizhou Province etc. Building on the momentum of its existing and successful multi-brand hotel portfolio in the area, IHG will further strengthen its leadership and tap into the large potential of this fast-growing market. Boasting distinctive natural beauty and rich cultural heritage, the western area of China has been a worldwid...
Marriott Leads All Franchise Companies for Largest U.S. Construction Pipeline
Lodging Econometrics | May 9, 2018
The Marriott International Construction Pipeline currently has 1,383 Projects/177,926 Rooms, the largest of any franchise company in the U.S. Their largest brands are: Fairfield Inn with 293 Projects/28,418 Rooms, TownePlace Suites with 206 Projects/21,193 Rooms and Residence Inn with 200 Projects/24,978 Rooms. These three brands comprise over 50% of Marriott's Total Pipeline. Marriott has 1/3 all rooms Under Construction in the U.S., with 502 Projects/68,316 Rooms currently in the ground. Additionally, they have 695 Projects/86,761 Rooms Scheduled to Start Construction in the Next 12 Months and 186 Projects/228,849 Rooms in Early...
Travel Trends Index: International Sector Powers Strong Overall Finish to Q1
U.S. Travel Association | May 9, 2018
WASHINGTON (May 8, 2018)—Travel to and within the United States was up 3.4 percent year-over-year in March, according to the U.S. Travel Association's latest Travel Trends Index (TTI)—marking the industry's 99th straight month of overall expansion. The March TTI generated some eye-catching numbers, mainly due to the earlier timing of Easter (April 1). Higher volumes of international travelers tend to visit the U.S. close to that holiday, while domestic business travel typically falls, according to U.S. Travel researchers. Accordingly, international inbound travel to the U.S. registered eye-popping 11 percent year-ove...
Don’t Forget Security When Adding Smart Devices to Enhance the Guest Experience
Dean Coclin | May 9, 2018
By Dean Coclin A few weeks ago, I stayed at a hotel in Las Vegas. I'm always nervous when I open the door to my room. What if it's not as clean as I'd hoped? What if I discover something mildly disturbing? What I found this time wasn't alarming, but it was surprising. Opening the door to my room triggered an impressive display of the hospitality industry's potential for a richer guest experience — the curtains began gliding open, the lamps slowly lit, the TV monitor switched on, displaying my name, the weather and some useful entertainment options. When I got hungry, a robot showed up with room service. Instead of a wake-up call, ...
Mike Walsh and Theresa Payton to Be Keynote Speakers at HITEC Houston in June
HFTP | May 9, 2018
Two authorities on operating your business in a digital-dependent world have been added to the education program for Hospitality Financial and Technology Professionals (HFTP®)'s upcoming Hospitality Industry Technology Exposition and Conference (HITEC®). The opening keynote presenter is Mike Walsh, a 21st century business designer, futurist, global nomad and author. The event's closing keynote is Theresa Payton, a former The White House CIO and cybersecurity authority. HITEC Houston is the second, and largest, of three HITEC events planned for 2018, and will take place from June 18-21 at the George R. Brown Convention Ce...
Protecting Your Housekeepers From Injuries
Larry Mogelonsky | May 9, 2018
By Larry Mogelonsky, MBA, P. Eng. (www.hotelmogel.com) Following an immersive full-day seminar at the recent Housekeepers Forum in Toronto to discuss all the latest issues affecting this department, one critical issue addressed that merits further discussion is repetitive strain injuries (RSIs), especially those with an aging workforce. A combined aggravation of both the nervous and musculoskeletal system, an RSI is typically caused by repetitive tasks or those which put the body in an awkward position. There are many different types of RSIs, but as I am not a doctor, the diagnoses and exact syndromes are not the focus here. Rather, it...
Marshall Hotels & Resorts Takes Over Management of 63-Room Hotel Indigo in Birmingham, Alabama
Marshall Hotels & Resorts, Inc. | May 9, 2018
BIRMINGHAM, Ala., May 9, 2018—Marshall Hotels & Resorts, a leading hotel management and services company that operates properties nationwide, today announced that it has taken over management of the 63-room Hotel Indigo in Birmingham, Ala. The former Hotel Highland Downtown, originally built as a medical arts building in 1931, marks the company's first entry into Alabama. "The Hotel Indigo represents our ideal portfolio addition—a unique hotel in a strong secondary market that can benefit from either capital improvements and/or improved management," said Mike Marshall, president and CEO, Marshall Hotels & Resorts. "T...
JW Marriott Phuket Resort & Spa Appoints Matthias Y. Sutter as New General Manager
JW Marriott Phuket Resort & Spa | May 9, 2018
Phuket, Thailand – May 9, 2018: JW Marriott Phuket Resort & Spa is delighted to announce the appointment of Matthias Y. Sutter as the General Manager who brings with him a wealth of knowledge and 18 years of luxury hospitality expertise. In this role, he will be primarily responsible for managing the hotel operations and maintaining the exceptional services of the 265-room keys luxury Phuket resort which located on Mai Khao Beach. Matthias started off as an architect but very soon discovered his passion in hospitality obtaining his degree at the Swiss Hotel Management School, Zurich Belvoirpark. Matthias received his Masters o...
Best Practices in Food & Beverage Have Meyer Jabara Hotels’ Seeing Green
Meyer Jabara Hotels | May 9, 2018
MJH's collaborative F&B IMPACT Committee and a strong purchasing partnership are driving revenues and contributing to the Company's strong F&B performance systemwide [Danbury, Conn., May 9, 2018] — Meyer Jabara Hotels (MJH) is on a mission. The hotel ownership and management company is implementing best practices for creating elevated and differentiated food-and-beverage experiences that generate higher average checks and boost guest satisfaction. To enable its associates to achieve and exceed these goals, MJH has established an F&B IMPACT Committee tasked with Initiating Major Progress Around Culinary Tactics. Compris...
Considering Going Paperless? Maestro PMS Encourages Sustainable Processes With Mobile Check-In and Check-Out
Maestro PMS | May 9, 2018
Maestro Mobile Check-Out, Mobile Check-In, Digital Registration, eFolios, and Online Reports Link Hotels with Environmentally Conscious Travelers Markham, Ontario – May 9, 2018 – Environmental responsibility is a requirement for many travelers when they select a hotel. Maestro PMS understands this and encourages it. With 40 years of established practices bringing the latest property software technology to the independent hospitality space, Maestro has led the paperless movement for the last 10 years providing technology solutions that support sustainable hospitality practices. Maestro's most recent property software innovat...
2018 James Beard Foundation Award Winners Presented in Restaurant and Chef and Restaurant Design Categories
the James Beard Foundation (JBF) | May 9, 2018
NEW YORK, NY (May 8, 2018) – Winners were announced this evening, Monday, May 7, 2018, at the James Beard Foundation Awards at Lyric Opera of Chicago. During a ceremony emceed by Carla Hall, co-host of ABC's The Chew, awards were presented in the Restaurant and Chef and Restaurant Design categories, as well as several special achievement awards, including Who's Who of Food & Beverage in America, Lifetime Achievement, Design Icon, America's Classics, and Humanitarian of the Year. A complete list of award winners can be found at the end of this release and at jamesbeard.org/awards. Highlights from this year's list of winners inc...
Worried About Reaching Out to Your Millennial Guests? Top 5 Things You Can Do to Attract Them
Hotelogix | May 9, 2018
Millennials are the first generation that grew up with close proximity to internet, mobile phone/smartphones and televisions. Their exposure to technology sets them apart from the previous generations. Talking about millennials in the hospitality industry, their entire experience - right from making the reservation to checkout, they expect something new from the hotel. They use their phones to book hotels, on the go. They look at guest reviews before booking their stay. They are not satisfied with the word 'average', they need more. That's why, hoteliers must find newer ways to market their properties to this young, tech-savvy and deman...
General Manager Richard Whaley Welcomes Guests to New 170-Key Residence Inn by Marriott in Seattle, Washington
Residence Inn by Marriott | May 9, 2018
SEATTLE – May 9, 2018 – The 170-suite Residence Inn by Marriott in Seattle, Washington is scheduled to open today. Located at 19608 International Boulevard, the all-suite Residence Inn Seattle Sea-Tac Airport will operate as a Marriott franchise, owned by Western International and managed by Texas Western International Partners LP of Dallas, Texas. The hotel is located two miles from Seattle-Tacoma International Airport and 20 minutes from downtown Seattle, and its well know attractions like the Space Needle, Pike Place Market, and CenturyLink Field. The Residence Inn Seattle Sea-Tac Airport offers its guests convenient acce...
Hilton Garden Inn Opens in Qidong, Jiangsu Province Marking First International Hotel Brand to Enter the City
Hilton Garden Inn | May 8, 2018
May 8, 2018 QIDONG, China and MCLEAN, Va. - Hilton (NYSE: HLT) and Hilton Garden Inn, today announced the opening of Hilton Garden Inn Qidong. The 181-room Hilton Garden Inn Qidong is conveniently located within Central Park Mall, a stylish leisure and recreational hub in the city's central business district. The hotel is owned by Jiangsu Hui Long Tang Culture Investment Development Co. Ltd and is managed by Hilton. "We are extremely proud to be the first international hotel brand to enter Qidong city, and we look forward to extending Hilton Garden Inn's award-winning, service-driven culture to the area," said John Greenleaf, global hea...
Marriott International Debuts in Mali With Opening of 200-Room Sheraton Bamako Hotel
Sheraton Hotels & Resorts | May 8, 2018
Marriott International today announced the opening of Sheraton Bamako Hotel marking its entry into Mali, in West Africa. This milestone further solidifies Marriott International's portfolio across West Africa, and promises to revolutionize the hospitality landscape in the country through Sheraton's distinct product offering coupled with its commitment to go above and beyond for its guests. "We are thrilled to build on Sheraton's proud heritage in Africa that dates back to 1971," said Alex Kyriakidis, President and Managing Director, Middle East and Africa, Marriott International. "Over the last four decades, the brand has maintained its...
Concord Aztec Brickell Opens 208-Room Hyatt Centric Brickell Miami in the City’s Tallest Building, Panorama Tower
The Hyatt Centric Experience | May 8, 2018
CHICAGO--Hyatt Hotels Corporation (NYSE: H) announces the opening of Hyatt Centric Brickell Miami, located in Miami's thriving Brickell Financial District. The newly constructed full-service lifestyle hotel, located at 1102 Brickell Bay Drive, is situated within the first 19 floors of the new 83-story Panorama Tower, the tallest building in Miami. The hotel is owned by Concord Aztec Brickell LLC, a joint venture comprised of Aztec Group and Concord Hospitality, which operates the hotel. Designed as launch pad for modern explorers seeking authentic local experiences, the 208-room Hyatt Centric Brickell Miami puts guests in the center of ...
Hit the OTAs With a Rebound: 5 Direct Booking Strategies for Hotels
Casey Munck | May 8, 2018
By Casey Munck Love them or hate them, the OTAs are here to stay. Smart hotels know they must take control of their data and deploy smart marketing strategies to lure guests to book direct, which provides the lowest cost per acquisition and builds customer loyalty. Maintain your (paid search) brand share Since search engine ad space is now at the half fold, mark, consumers must scroll a half a page to see organic results. Ads take up half the page and in case you weren't aware, the OTAs are bidding on your hotel's brand terms. So, how do you deal? Maximize your paid search brand impression share to sit at 90 percent or higher. B...
The Clift Hotel in San Francisco Joins Sonesta as The Clift Royal Sonesta Hotel
The Clift Royal Sonesta Hotel | May 8, 2018
Newton, MA (May 8, 2018) – Sonesta International Hotels Corporation is proud to announce their entry into the San Francisco market with the addition of The Clift Royal Sonesta Hotel to its growing portfolio of locations that span the world. The Clift is truly one of a kind, dramatically offering the very best of service, style and design since its opening in 1915. The lobby alone is a living gallery, including pieces from Philippe Starck, Michel Haillard, and many more. The Clift's location just off Union Square means it's ideally situated between the city's Financial District and famed South of Market neighborhood. The Clift Roya...
Courtyard Hotel Opens In Russellville, Arkansas
The Sage Agency | May 8, 2018
Courtyard by Marriott Russellville opened its doors in Russellville, Arkansas on Monday, May 7, 2018. Featuring an innovative lobby space as well as Courtyard's latest contemporary room design, the new hotel provides flexibility and choices that allow guests to optimize and elevate their travel experience. Located at 154 East Aspen Lane, the 108-room hotel will operate as a Marriott franchise, owned and managed by Mehta Hospitality. Whether traveling for business or pleasure, the Courtyard Russellville offers guests convenient access to Arkansas Tech University, Lake Dardanelle State Park and Mount Nebo State Park. Rates begin at $139 p...
Omni Hotels & Resorts Appoints Cara Banasch as Vice President of Sales
Omni Hotels & Resorts | May 8, 2018
DALLAS (May 8, 2018) – Omni Hotels & Resorts is pleased to announce the appointment of Cara Banasch as vice president of sales effective May 21, 2018. Banasch will lead all field and global sales teams and will be responsible for creating and implementing revenue-generating strategies across the entire luxury hotel brand. Banasch will report to Daniel Surette, senior vice president of sales and marketing for Omni Hotels & Resorts. "Cara's experience, dedication and passion make her well poised for success within the Omni family," said Surette. "Her exceptional record of accomplishments and extensive hospitality knowledge w...
Protasco Berhad in Partnership with Radisson Hotel Group to Bring Park Inn by Radisson Brand to Malaysia
Radisson Hotel Group | May 8, 2018
Singapore - May 8, 2018 Radisson Hotel Group, one of the world's leading hospitality companies, has unveiled exciting plans to launch its first Park Inn by Radisson hotel in Malaysia. Continuing the rapid recent expansion of this colorful midscale concept, the Group has signed a management agreement for Park Inn by Radisson Putrajaya - a new-build hotel currently under development in De Centrum City, close to Malaysia's administrative capital, Putrajaya, and just 20 kilometers from Kuala Lumpur. Owned by Protasco Berhad, this bright, vibrant hotel will become a key element of De Centrum City, an impressive MYR10 billion (US$2.56bn), 40-...
