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Industry Happenings
Hyatt Signs With Little Projects to Develop Hyatt Centric Melbourne, Australia
The Hyatt Centric Experience | April 30, 2018
The new hotel will mark the first Hyatt Centric brand hotel in Melbourne and the second for Australia in a significant step towards expanding Hyatt's brand footprint there Chicago (April 30, 2018) – Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with Little Projects for a Hyatt Centric hotel in Melbourne, Australia. Hyatt Centric Melbourne will boast a prime location on Downie Street, providing a launch pad for guests looking to explore everything Melbourne has to offer. The hotel will also join 20 Hyatt Centric brand hotels worldwide and soon-to-open hotels in San...
MDR Hotels and R.D. Olson Construction Break Ground on New Build Dual-Brand Marriott Hotel in Marina del Rey
R.D. Olson Construction | April 30, 2018
Irvine, Calif. – April 30, 2018 – R.D. Olson Construction, an award-winning general contracting firm in California, commenced ground-up construction on a waterfront dual-brand hotel by Marriott in Marina del Rey, California. Located on Via Marina and Tahiti Way near world-famous beaches, seaside dining and waterfront activities, the hotel will include a Courtyard and Residence Inn by Marriott overlooking the harbor. The 2-acre property will feature two podium-type buildings with 288 guest rooms in total and is close to Venice Beach, Redondo Beach Pier, Los Angeles International Airport and major freeways. "We are honored to ...
Interstate Hotels & Resorts Names Fernando Salazar Senior Vice President, Food & Beverage
Interstate Hotels & Resorts | April 30, 2018
ARLINGTON, Va. – April 30, 2018 – Interstate Hotels & Resorts – the leading U.S.-based global hotel management company – has appointed Fernando Salazar as the senior vice president of food & beverage. In the newly created role, Salazar brings a passion for cuisine and an international flair to partner with market leading chefs and mixologists for menu development, culinary team training and ensuring engaging guest experiences across Interstate's portfolio. "As Interstate Hotels & Resorts continues to evolve as the leader in hotel management, we're expanding our team to be best in class and add value f...
Hospitality Financial Leadership: Hotel Current Assets – What You Need to Know
David Lund | April 30, 2018
By David Lund When we cross the bridge in the hospitality financial world to the greater business world, the concept of an asset and how it is used comes full circle. I am going to explore what is unique about hospitality assets and how we record and use them. I am only going to talk about current assets in this article. First of all, an asset is something you have paid for or earned previously that can be used to generate more income. That is the critical test: Can you use this item to make more money, to create more economic activity? If you bought it or created it previously and can use it to generate more income, it is an asset. Ite...
AccorHotels Acquires Mövenpick Hotels & Resorts for U.S. $567 Million
AccorHotels | April 30, 2018
PARIS, 30 April 2018--AccorHotels has today announced that it has signed an agreement with Mövenpick Holding and Kingdom Holding to acquire Mövenpick Hotels & Resorts, for a cash amount of CHF560 million (€482 million). The transaction implies a 14.9X 2019e EBITDA multiple before synergies (including transaction costs), and less than 10X pro forma 2019e EBITDA after run rate synergies and committed development pipeline. The transaction will have an accretive impact on Group earnings from the first year. Founded in 1973 in Switzerland, Mövenpick Hotels & Resorts operates in 27 countries with 84 hotels (more th...
How to Win at the Hotel Technology Innovation Game Through Symbiotic Partnerships
Pierre Boettner | April 30, 2018
By Pierre Boettner When it comes to hospitality technology, finding symbiotic technology partnerships for your product can be an advantageous way for your company and products to embrace innovation continuously. Aligning your solutions strategically with like-minded companies offering cutting-edge technology, hospitality experts can better generate ideas, streamline processes, and cultivate their product offering for eager hoteliers. In a good partnership, both partners should win, emerging from the relationship better than they were before. Of course, technology partnerships represent a dynamic, fluid relationship, and primary technolo...
Medical Tourism: India and Malaysia Lead the Market with Use of Cryptocurrency
Allied Market Research | April 30, 2018
Small countries including India and Malaysia have seen a spike in the medical tourism market owing to the low-cost of treatments compared to the U.S. and the intensive care facilities offered by the hospitals. The medical tourism market has grown exponentially in recent years due to affordability and accessibility of healthcare services along with the support from tourist department and government. In addition, the countries such as India, Brazil, Malaysia, and Thailand provide the latest medical technologies to the patients, which boosted the medical tourism market. In its recent report on Global Medical Tourism Market, Allied Market R...
The CEO’s Role as Thought Leader in the New Era of Engagement
Alan Young | April 30, 2018
It is critical for CEO's to champion a trustworthy voice for their company's brand and execute a consistent content cadence By Alan Young Gone are the days in which CEO's can expect to remain a faceless, behind-the-scenes force of the company. Think Richard Branson, Elon Musk, Jeff Bezos – and the growing list of rock star C-level execs. Within a dynamic industry landscape, CEO's across all verticals are stepping up to become the driving market force behind their brand, openly advocating for their company's values, culture, and intellectual capital. A company's brand is often an extension of their chief executive...
Fairfield Inn & Suites Hotel To Open In Terrell, Texas
The Sage Agency | April 30, 2018
The 82-room Fairfield Inn & Suites by Marriott in Terrell, Texas is scheduled to open today with a new décor that provides guests with a feeling of warmth and calm while traveling. Located at 351 Market Center Drive, the Fairfield Inn & Suites Terrell will operate as a Marriott franchise, owned by TERFFIS, LLC and managed by Hotel Equities of Atlanta, Georgia. General Manager Arnika Addison leads the management team at the hotel for Hotel Equities. Whether traveling for business or pleasure, the Fairfield Inn & Suites Terrell offers guests convenient access to Splash Kingdom, Hawaiian Falls, Six Flags Over Texas and d...
Hotel Security Tools Needs to Be Shared With Local First Responders
Stephen Nardi | April 30, 2018
By Stephen Nardi President Donald Trump recently made a call to make bump stocks illegal. A bump stock is an attachment that enables a semiautomatic rifle to fire faster. Twelve of the rifles the gunman in last October's mass shooting in Las Vegas had in his 32nd-floor Mandalay Hotel room were outfitted with bump stocks. Ever since that incident, the hotel and security industries have been scrambling to develop new protocols that prevent against crisis situations like mass shootings. Of all the tools hotel management have, it is critical the tools that help save lives are shared with local first responders. Many of the quicker fix ideas...
Now Available for Download: HEBStrategy Q2 2018 Hotel Digital Marketing, Technology, and Trends Whitepaper
HEBS Digital | April 30, 2018
HEBS Digital's second installment in 2018 of the HEBStrategy—our whitepaper series covering the latest news and trends in hotel digital marketing and technology—is now available for download! The HEBStrategy Q2 takes a look at the full Google Ecosystem and offers strategies for hoteliers to reach potential guests throughout the travel planning journey. Download the HEBStrategy Q2 2018 whitepaper to learn about: What's Trending: Get familiar with Progressive Web Apps (PWA), stay up-to-date with the latest Google My Business updates, learn about voice search optimization, and more. From the Design Studio: Discover examples ...
How Artificial Intelligence In Hospitality Can Impact Operational Dynamics Positively?
Mitul Makadia, Founder, Maruti Techlabs | April 30, 2018
by Mitul Makadia Over the last couple years, multiple changes within the technology space (most notably – artificial intelligence in hotels and hospitality) have brought forward a paradigm shift and disrupted a myriad of industries, leaving some players behind while simultaneously adding more value for the end users. The adoption of new emerging technologies has gone on to become quite the trend after receiving inspiration from successful use cases. In case of hotels, the real boost of artificial intelligence in hospitality sprung from the fact that it has the power to impact and transform the industry completely. Given the rising...
OTO Development Opens New 290-Room AC Hotel by Marriott New York Times Square in Midtown Manhattan
AC Hotels by Marriott | April 26, 2018
NEW YORK, April 26, 2018 -- Times Square remains the beating heart of Manhattan, and now travelers can be at the center of the action while still having space to reflect with the opening of the new AC Hotel New York Times Square. The Midtown hotel melds an urban vibe with classic elements that hark back to the brand's Spanish roots. The entrance lobby is 23 feet high with a large, open staircase to the lower level illuminated by a skylight shed roof. Its 290 guest rooms will offer an oasis in the midst of the bustle of NYC with a sleek and classic modern style. With options like floor-to-ceiling windows and private balconies, guests...
Caesars Entertainment Partners With Grupo Questro for $200 Million Caesars Palace Luxury Resort in Puerto Los Cabos, Baja, Mexico
Caesars Entertainment Corporation | April 26, 2018
LAS VEGAS, April 26, 2018 -- Caesars Entertainment Corporation (NASDAQ: CZR) today announced plans to bring a non-gaming Caesars Palace resort to beach-front property along the coast of Puerto Los Cabos, Mexico. The hotel licensing strategy is part of Caesars' plan to expand its brands into new global markets. The $200 million luxury beachfront hotel will be developed by Grupo Questro, one of Mexico's preeminent developers with over 30 years of experience and a diversified portfolio of projects that includes resorts, hotels, shopping centers, golf courses, and residential complexes. Caesars Entertainment will manage the property...
FOUND Hotels and The h.wood Group Launch Flagship Hotel FOUND Chicago – River North
FOUND Chicago | April 26, 2018
(Chicago, IL. April 26, 2018) — FOUND Hotels in partnership with hospitality virtuoso The h.wood Group and real estate investment firm, Hawkins Way Capital, is proud to announce FOUND Chicago – River North which opens in April 2018, at 613 N. Wells Street. The FOUND hospitality brand introduces the concept of simple, smart indulgence to a community hotel environment. FOUND Chicago is the first of several FOUND Hotels set to debut in Boston, San Francisco, Los Angeles FOUND Chicago is the first of several FOUND Hotels set to debut in Boston, San Francisco, Los Angeles and more in 2018-2019. Each centrally located hotel will o...
Posadas Expands Portfolio With Four New Properties in Mexico, Dominican Republic and Cuba
Grupo Posadas | April 26, 2018
Mexico City, Mexico (April 26, 2018) – Posadas, Mexico's largest and most internationally renowned hotelier, announces its continued growth with five new properties in Mexico, Dominican Republic and Cuba. The new resorts, set to open throughout 2018 and 2019, include Live Aqua San Miguel De Allende; Grand Fiesta Americana Punta Cana Los Corales All-Inclusive; Fiesta Americana Punta Varadero All-Inclusive and Fiesta Americana Holguín Costa Verde All-Inclusive. These exciting new developments represent a significant milestone for the company's ever-growing portfolio and first international expansion beyond Mexico. "With these...
MGM Resorts International Plans August Opening of $960 Million MGM Springfield in Western Massachusetts
MGM Resorts International | April 26, 2018
SPRINGFIELD, MASS. (April 26, 2018) – Expanding its presence on the East Coast, MGM Resorts International will open the doors to MGM Springfield, New England's first integrated luxury resort and entertainment destination, on Friday, August 24, 2018. "A testament to a decade of collaboration between the City of Springfield and MGM Resorts, MGM Springfield will pay tribute to the city's legacy and celebrate its bright future, while introducing a stellar array of hospitality and entertainment experiences that will attract guests from New England and beyond," said Michael Mathis, President of MGM Springfield. "We are incredibly proud ...
MCR Acquires 169-Room Courtyard by Marriott Milwaukee Downtown
MCR | April 26, 2018
NEW YORK – April 26, 2018 – MCR, the seventh largest hotel owner-operator in the United States, announced today that it has acquired and will manage the 169-room Courtyard by Marriott Milwaukee Downtown located at 300 West Michigan Street in Milwaukee, Wisconsin. Situated in the heart of the Milwaukee business district, the Courtyard by Marriott Milwaukee Downtown is located near many Fortune 500 companies including Northwestern Mutual, Baird, Harley-Davidson, BMO Bank of Montreal and Rockwell Automation. Marquette University, Milwaukee's Historic Third Ward and the new $530 million Milwaukee Bucks sports arena, scheduled to...
HVS Market Pulse: Annapolis, MD
Marcus R. Lee | April 26, 2018
By Marcus R. Lee, Chelsey Leffet Annapolis, Maryland's capital, is a historic seaport located 30 miles south of Baltimore and 30 miles northeast of Washington, D.C. Annapolis relies on tourism, state and local government activity, and renowned institutions of higher education for its economic livelihood. The Annapolis hotel market has been very stable over the last five years, with no proposed hotel development on the horizon. There have, however, been two hotel transactions in the last year, indicating the attractiveness and economic viability of this high-barrier-to-entry market to investors. Average rates for the city's hotels have r...
CityCenter Holdings Enters Into Definitive Agreement to Sell the Mandarin Oriental Las Vegas for $214 Million
CityCenter | April 26, 2018
LAS VEGAS, April 26, 2018 -- CityCenter Holdings, LLC ("CityCenter"), a venture between MGM Resorts International (NYSE: MGM) and Infinity World Development Corp, today announced that it has recently entered into a definitive agreement to sell the Mandarin Oriental Las Vegas (the "Hotel") and adjacent retail parcels for approximately $214 million in cash, subject to satisfactory completion of due diligence and customary closing conditions. The transaction is expected to close in the summer of 2018. The Hotel is located at the entryway of CityCenter and in the heart of the Las Vegas Strip featuring 392 guestrooms, inc...
AccorHotels, Saunders Hotel Group and The Noannet Group Partner for Raffles Boston Back Bay Hotel & Residences Set to Open in 2021
Raffles Hotels & Resorts | April 26, 2018
TORONTO – April 26, 2018 – Illustrious hospitality brand Raffles Hotels & Resorts, part of AccorHotels, in partnership with hoteliers Gary and Jeffrey Saunders of Saunders Hotel Group and developer Jordan Warshaw of The Noannet Group of Boston, today announced the signing of definitive agreements to debut the first mixed-use Raffles property in North America. Scheduled to open in 2021, Raffles Boston Back Bay Hotel & Residences promises to be a welcoming oasis of refined elegance comprised of a distinctive hotel as well as exquisitely appointed residences, located in the heart of Boston, Massachusetts. "We are proud ...
Hilton Inn at Penn Named Winner of Intelity’s ‘ICEvoice Challenge’
Intelity | April 26, 2018
Property to receive Intelity's voice concierge solution FREE and 'forever' to enhance its guests experiences by enabling them to make voice requests via Amazon Alexa devices in guestrooms [Orlando, Fla. — April 26, 2018] — Why are hoteliers eager to add voice-command technology to guestrooms? Just ask the Hilton Inn at Penn, winner of Intelity's ICEvoice Challenge. Earlier this month, Intelity asked its customers to state how they envision using the company's newest solution that enables guests to use voice commands for requesting services and controlling the in-room environment. The reply from the Hilton Inn at Penn was sho...
Shifting Your Hotel Staff From Task-Oriented to Guest-Oriented [Guide]
April 26, 2018
StayNTouch introduces a free guide for hotel owners with proven tactics that can free up staff to provide world-class service and connect with guests on a deeper level In the world of hospitality, there exists a crucial difference between simply servicing a guest's demands and providing truly outstanding guest service. Hotels that are able to focus on the latter will reap the rewards with increased guest loyalty and, in turn, an undeniable ROI in their business model. Why? Because great hospitality is about great service, and at the root of that understanding exists the realization that hotels need to be guest-oriented rather than task-...
PolyU Study Urges Hotels to Create a Green Culture
April 26, 2018
With the ever-increasing concern about worldwide environmental problems, the findings of a recent study by Dr Eric Chan, Dr Alice Hon and Dr Wilco Chan of the School of Hotel and Tourism Management (SHTM) at The Hong Kong Polytechnic University and a co-researcher provide much-needed practical suggestions that should help hotels aiming to implement environmental management programmes. The researchers highlight that gaining employees' support for new environmental initiatives is key to ensuring success. Equipping employees with sufficient environmental knowledge is important to raising their awareness and concern, and should encourage th...
