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Hospitality Financial and Technology Professionals | June 25, 2024
Industry Happenings
Kimpton Hotels & Restaurants Adds Tiffany Cooper, Senior Vice President and Dan Thorman, Vice President to Growing Development Team for the Americas
Kimpton Hotels & Restaurants | April 24, 2018
SAN FRANCISCO (April 24, 2018) – Kimpton Hotels & Restaurants announced today two new additions to their rapidly growing development team, Tiffany Cooper, Senior Vice President of Development and Dan Thorman, Vice President of Development. In their respective positions, Cooper and Thorman will be responsible for the brand's overall growth strategy and the expansion of Kimpton's development pipeline across the Americas. They join a robust team, led by Chief Development Officer Allison Reid. Other recent additions to the development team include Charlotte Giovanni, Vice President of Development and David Ruger, Senior Director o...
Ranking Hotel REITs 2018: Dividends, Profit Margins, and Overhead
Hans Detlefsen | April 24, 2018
By Hans Detlefsen Hotel Appraisers & Advisors (HA&A) is pleased to announce our third annual ranking of hotel real estate investment trusts (REITs). HA&A currently monitors 16 hotel REITs, discussed throughout this report. Some hotel REITs are more effective than others at generating earnings and passing profits on to investors. In this year's report, we rank each of these hotel REITs according to three metrics: (1) dividend yields; (2) profit margins; and (3) overhead expenses. Our 2018 rankings are based on year-end 2017 data from each of the 16 hotel REIT companies we monitor. Hotel REITs offer some of the highest dividen...
What Hotels of Tomorrow Can Learn From the Airbnb’s of Today
Alan E. Young | April 24, 2018
By Alan E. Young The travel and lodging industry has evolved into an undeniably exciting space. Rife with new technology, aesthetically impressive social media pages acting as travel inspiration for millennials and a rise in boutique accommodations. This change and ensuing competition are continuously on the horizon. This competitive landscape stretches between hotels brands as well as between hotels and non-traditional accommodation models, such as Airbnb. With both service models existing within the same industry and catering to similar guest demographics, there is a wealth of experiential knowledge to be shared/gained as they strive ...
The Outlook for U.S. Hotel Profits in 2018
Robert Mandelbaum | April 24, 2018
By Robert Mandelbaum and Bram Gallagher Ph.D. Since 2014, U.S. lodging industry owners and operators have seen a steady decline in the pace of revenue growth. In 2014, rooms revenue per available room (RevPAR) increased by a healthy 8.2 percent according to STR. Per the December 2017 edition of CBRE's Hotel Horizons®, RevPAR is forecast to increase by just 2.5 percent in 2018. Facing lackluster revenue growth, hotelier's sights are now focused further on down the operating statement to determine what the impact of slow top-line gains will be on bottom-line profits. To provide U.S. hotel owners and operators with a sense of expected ...
Newly Renovated and Rebranded Hilton Santa Barbara Beachfront Resort Opens on California’s Central Coast
Hilton Hotels & Resorts | April 24, 2018
April 24, 2018 SANTA BARBARA, Calif. - Today, Santa Barbara's iconic beachside destination opens its doors as Hilton Santa Barbara Beachfront Resort, where guests will enjoy stunning coastal views. All 360 newly-remodeled guest rooms are stylishly appointed with ocean and sky-blue tones, driftwood inspired interiors, private balconies or patios. The resort is a premier meetings and events destination with a wide array of indoor and outdoor event space, perfect for weddings, conferences and gatherings of any size. Centrally located, the landmark property is walking distance from quaint downtown Santa Barbara and easily accessible to Sant...
RAR Hospitality to Assume Management of Rio Del Sol Inn Needles and Best Western Colorado River Inn
RAR Hospitality | April 24, 2018
San Diego– April 24, 2018— RAR Hospitality is proud to announce that it has acquired the hotel management contracts for Rio Del Sol Inn Needles and Best Western Colorado River Inn. The management contracts for Rio Del Sol Inn Needles and the Best Western Colorado River Inn are the first hotels in San Bernardino County for the hotel management and consulting firm, headquartered in San Diego. The recent acquisition of these properties brings RAR Hospitality's portfolio to 18 hotels serving Southern California, Arizona and Colorado. "Rio Del Sol Inn Needles and Best Western Colorado River Inn are a milestone for our company's s...
HFTP Announces 2018 CHTP of the Year Recipient
HFTP | April 24, 2018
Sean Van Dyke, CHTP of St. Julien Hotel and Spa will be honored at HITEC Houston this June Hospitality Financial and Technology Professionals (HFTP®), will honor Sean Van Dyke, CHTP as the 2018 Certified Hospitality Technology Professional (CHTP®) of the Year at HITEC Houston this June. The CHTP of the Year award honors the individual that scored the highest on the CHTP certification exam within a given year. HITEC Houston, HFTP's second and largest HITEC of 2018, will take place from June 18-21 at the George R. Brown Convention Center in Houston, Texas USA. Van Dyke works as a director of IT at St. Julien Hotel & Spa, a...
Shurooq and Emaar Hospitality Group Partner for 100-Room Vida Al Qasba Sharjah in Heart of Al Qasba
Shurooq | April 24, 2018
Dubai/Sharjah; UAE; April 24, 2018: The Sharjah Investment and Development Authority (Shurooq) signed a management agreement with Emaar Hospitality Group to operate a lifestyle boutique hotel in the heart of Al Qasba, one of the most popular lifestyle and leisure destinations in the emirate. Vida Al Qasba Sharjah, to be operated under Emaar Hospitality Group's Vida Hotels and Resorts, an upscale lifestyle hotel and serviced residences brand, will add yet another dimension to Shurooq's flourishing tourism portfolio, together with some of the region's most distinctive and ambitious developments. Featuring 100 rooms and suites, Vida Al Qas...
Emaar Hospitality Group Launches Renovation of Historic 189-Room Al Alamein Resort Set to Debut This Year
Emaar Hospitality Group | April 24, 2018
Dubai, UAE; April 24, 2018: The historic Alamein resort, built in 1960 by the Sidi Abdelrahman Bay of the Mediterranean Sea and having hosted legendary leaders including Gamal Abdel Nasser Hussein, the second President of Egypt, is readying for a refreshing and contemporary facelift. Emaar Hospitality Group has commenced renovation and redesign work of the property, while maintaining its cultural context and heritage, with the all-new Al Alamein Hotel, managed by Vida Hotel and Resorts, scheduled to open doors to visitors in 2018. It is located centrally in Marassi, the master-planned lifestyle and tourism destination by Emaar Misr (EGX...
Small Luxury Hotels of the World Appoints Larry Mogelonsky as Canadian Ambassador
Small Luxury Hotels of the World | April 24, 2018
April 24, 2018 (Toronto, ON) Small Luxury Hotels of the World™ (SLH) is pleased to announce the appointment of Larry Mogelonsky as its Canadian Ambassador. The announcement was made at SLH's annual Canadian Showcase event held on Apirl 10, 2018 at the Art Gallery of Ontario in Toronto. In making the announcement, Filip Boyen, Chief Executive Officer of SLH, noted, "Canada is our third largest guest-originating market, yet we are critically underrepresented here with only one property. Our goal is to raise the profile of SLH within the Canadian hotel community and, in the process, increase our membership as well as open the world t...
Noble and IHG Open the Dual-Branded EVEN Hotel and Staybridge Suites Hotel South Lake Union in Downtown Seattle
April 24, 2018
ATLANTA (April 24, 2018) – Noble Investment Group ("Noble") and InterContinental Hotels Group ("IHG"), one of the world's leading hotel companies, today announced the opening of the EVEN® Hotel and Staybridge Suites® hotel in downtown Seattle. The hotels are adjacent to the Amazon headquarter campus and the new Google campus in the vibrant South Lake Union market of Seattle. South Lake Union is also a hub for life science and biotechnology organizations such as the Fred Hutchinson Cancer Research Center, the Allen Institute for Brain Science and the University of Washington School of Medicine. EVEN Hotels is the first hote...
Restored 12th-Century Property, Once an Ottoman Prison, Reborn as The Setai Tel Aviv
The Setai Hotels in Israel | April 24, 2018
Tel Aviv - April 24, 2018: The Setai brand of hotels has today officially opened its latest property, The Setai Tel Aviv, located on the Mediterranean Sea at the entrance to the ancient city of Jaffa. The 120 guest room-and-suite urban resort is the second Setai outpost in Israel following the 2017 opening of The Setai - Sea of Galilee, and is the first property in Tel Aviv to be designated as a member of the Leading Hotels of the World organization. 12th-Century archways welcome guests into the property The property was initially constructed as a fortress during the Crusader Kingdom's rule over Jaffa in the 12th-century. The Setai...
Art Ovation Hotel Elevates Its Gallery Experience With Intelity
Intelity | April 24, 2018
Guests take Intelity's portable ICEbedside tablets with them as they tour the hotel, learn about each piece of art and its artist, and purchase the works [Orlando, Fla. — April 24, 2018] — Something extraordinary is happening in Sarasota, Fla. This month the Art Ovation Hotel Autograph Collection® opened its doors at 1255 North Palm Avenue as an active host, facilitator, patron and partner of the arts. To enhance the hotel's art gallery experience, the property equipped each of its 162 guestrooms with portable ICEbedside tablets from Intelity. Guests can click on the Ovation Arts icon in the hotel's mobile app, powered ...
PlumpJack Group and Meriwether Companies Unveil Newly Renovated Carmel-by-the-Sea Hotel, The Getaway
PlumpJack Group | April 24, 2018
CARMEL-BY-THE-SEA, CALIF. (May, 2018) – The Getaway, a 34-room boutique hotel located in the picturesque seaside village of Carmel-by-the-Sea, Calif., made its debut mid-April 2018 following an extensive property-wide renovation and external refresh. The latest joint-venture asset between San Francisco-based PlumpJack Group and Meriwether Companies, The Getaway exudes a coastal, casual-chic vibe with design inspired by its surrounding natural environs. Situated at the gateway to Downtown Carmel on Ocean Avenue and Junipero Street, the former Village Inn has been completely transformed into a modern beach retreat. The two-story pro...
Margaritaville Resort Coming to New York City! The $300 Million, 234-Room Destination is Expected to Open in Late 2020
Margaritaville | April 24, 2018
Orlando, Fla. – April 24, 2018 – Margaritaville Holdings, the global lifestyle brand synonymous with fun and escapism, today announced it's building a new Margaritaville Resort in New York City. Located in Times Square at 560 Seventh Avenue, blocks away from the bright lights of the entertainment district and New York's most popular attractions, the 234-room, 29-story property is expected to open in late 2020. Once complete, the $300 million project will boast several Margaritaville food and beverage concepts, a rooftop LandShark Bar & Grill and pool, retail space and more. "From the beaches of Florida to the Great Smoky...
North American Hoteliers Spring Into Second Quarter of 2018 With Continued Growth
TravelClick | April 24, 2018
Strong Group Travel Drives Increases in Rates and Bookings NEW YORK – April 24, 2018 – TravelClick, a leading global provider of data and revenue-generating solutions for hoteliers, today released new data from the Company's April 2018 North American Hospitality Review (NAHR). According to this data, North American hoteliers are experiencing continued growth in the second quarter of 2018, with bookings up 2.7 percent and average daily rates (ADR) up 2.5 percent across all travel segments. Driving much of this growth is group travel, up 7.5 percent in bookings, 3.8 percent in ADR and 11.6 percent in revenue per available room...
StayNTouch Partners With Martin’s Hotels
StayNTouch Inc. | April 24, 2018
Belgium-based hotel group brings PMS mobility to its portfolio with StayNTouch's cloud-based PMS solutions Bethesda, MD – April 24, 2017 – StayNTouch, an innovator in mobile technology and Property Management Systems (PMS) for hotels, is pleased to announce it has it has partnered with Belgium-based Martin's Hotels, with the deployment of its Rover PMS™ and Zest™ products to 13 of its 14 hotels: Martin's Rentmeestrij (Bilzen) Martin's Relais (Brugge) Martin's Brugge (Brugge) Martin's Brussels EU (Brussels) Martin's Chateau du Lac (Genval) Martin's Manoir (Genval) Martin's Louvain-la-Neuve (Louvain-la-Neuv...
HSMAI’s Inaugural “Curate” Digs Into Critical Issues in Hospitality
HSMAI | April 24, 2018
Executive Insights Forum Convenes Delegates from 41 Hotel Companies and Partners (McLean, VA, April 23, 2018) Hospitality industry senior executives from sales, marketing, and revenue management disciplines convened for the first-ever Americas-region Curate: An HSMAI Executive Insights Forum, on April 18 and 19 at Terranea Resort in Ranchos Palos Verdes, California. The event, exclusive to companies that are Hospitality Sales and Marketing Association International (HSMAI) organizational members, generated thought-provoking conversations on issues of interest and relevance to all hospitality industry professionals. "Curate is a rare opp...
ProfitSword Experiences Unprecedented Growth in First Quarter of 2018
ProfitSword, LLC | April 24, 2018
Leading provider of business intelligence and data management solutions to hospitality industry announces record setting Q1 sales momentum ORLANDO, Fla. – April 24, 2018 – ProfitSword, a leading developer of business intelligence and data integration software for the hotel industry, announces the addition of 126 properties from six hotel management companies to its current roster of hospitality customers during the first quarter of 2018. These numbers represent a 74 percent increase in growth rate over the prior year's sales pace, positioning ProfitSword as a leading provider in hospitality data management, as it continues ...
AD1 Global Commences Renovation on the Wyndham Garden Tallahassee Capitol
AD1 Global | April 23, 2018
AD1 Global announced today that it has begun renovating the Wyndham Garden Tallahassee Capitol. The multi-million-dollar projects began two weeks ago and is slated to be complete in September. "We are doing it in phases," said Chief Operations Officer Gilberto Sanchez. "We hope to finish the first floor in May and then we start the second and third floor right after that." The renovations are meant to reflect the new Wyndham Garden prototype which emphasizes guest comfortability and usability. "The Wyndham Garden properties are typically located in business, airport, and suburban areas. The design philosophy is to offer a tasteful, inti...
Canadian-based technology startup, Event Temple announces the official launch of its Sales and Catering software for hotels.
Event Temple | April 23, 2018
April 23, 2018 Vancouver, British Columbia, Canada The software is targeted for sales and catering managers who book group business, meetings and events. "At this point, it really doesn't matter what system your hotel is currently running," says Business Development Manager Bob Graham, who worked in Event Management before joining Event Temple in 2015. If hotels aren't actively embracing new technology, then they are missing out on major opportunities for growth. There is a high cost in falling behind with respect to technology." This technology is the only hotel sales and catering solution to offer advanced sales tools such as aut...
Hospitality Financial Leadership: Fixed/Variable Costs and Room Revenue Management
David Lund | April 23, 2018
By David Lund Lately, I have spoken to several revenue managers who have told me how much their cost is to take a room—to make that last sale of the day. What I heard concerns me because it tells me some people do not understand the fixed vs. variable components of payroll and expenses in their hotels. Quite simply put, one revenue manager told me his cost to take a room in his hotel in NYC was $290. "What?" I exclaimed over the telephone. "Yes, that's the cost." To which I replied, "That's the total cost of all your expenses, both fixed and variable?" Silence ensued for a moment and I said, "Let's slow things down and look at the...
Hospitality Requires Stepping Into “Character” Like an Actor on a Stage
Cathy Cook | April 23, 2018
By Cathy Cook In the hotel industry we all know how important it is to deliver hospitality, which is the key to a positive guest stay. Otherwise we are simply in the "room rental business" and our guest rooms devolve into a commodity like a seat on an airplane. These days hospitality has become even more important, as the number of "touch points" in a guest's stay are reduced, as automation of the booking process increases and as the amount of pre-arrival information (directions, amenities, local area details) is included in an email confirmation. Put simply, we have fewer conversations than ever before. At the same time, those of us wh...
Rockbridge and HRI Properties Open The Eliza Jane Hotel in New Orleans as a Part of The Unbound Collection by Hyatt
Rockbridge | April 23, 2018
NEW ORLEANS, April 23, 2018 -- Rockbridge and HRI Properties, LLC proudly announce the opening of The Eliza Jane, a 196-room hotel centrally-located just two blocks from the French Quarter and a short walk away from many of the city's iconic landmarks. The Eliza Jane is a thoughtful blend of elegance, combined with just the right mix of fancy and funky. This one-of-a-kind boutique hotel is built within nine historic warehouses that stand distinct on the outside but have been united inside to create sizable guest accommodations in addition to a 2,000 square-foot open-air interior courtyard. Inspired by buildings' rich history, th...
