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Hospitality Financial and Technology Professionals | June 25, 2024
Industry Happenings
Interstate Hotels & Resorts Executes Three New Hotel Management Agreements Within Its Asia Investment Group
Interstate Hotels & Resorts | February 1, 2018
ARLINGTON, Va., Feb. 1, 2018 -- Interstate Hotels & Resorts – the leading global hotel management company – announces that its Asia Investment Group has executed three new hotel management agreements aggregating to 550 rooms including hotels under development or construction. New to Interstate is the 217-room DoubleTree by Hilton Downtown Wilmington-Legal District, encompassing an impressive 24,000 square feet of hotel meeting and event space including one of Delaware's largest Grand Ballrooms. Located within one block of the Federal Courthouse and Delaware State Superior Courthouse, the property boasts two Legal War...
Park Hotels & Resorts Inc. Sells the Hilton Rotterdam, Netherlands, for Approximately $62 Million, or $245,000 per Key
Park Hotels & Resorts | February 1, 2018
MCLEAN, Va.--February 1, 2018--Park Hotels & Resorts Inc. ("Park") (NYSE:PK) today announced that it closed on the sale of the 254-room Hilton Rotterdam (the "Hotel") located in Rotterdam, Netherlands, for gross proceeds of approximately $62 million, equating to $245,000 per key. When adjusted for Park's anticipated capital expenditures ("capex") for the Hotel, the sale price represents a 4.8% capitalization rate on the Hotel's projected 2017 net operating income (5.5% excluding capex), or 17.8x the Hotel's projected 2017 EBITDA (15.4x excluding capex). The sale of the Hotel is consistent with Park's strategy of recycling capital ou...
2.5% Growth Rate of New Hotel Openings Expected in 2018 & 2019
Lodging Econometrics | February 1, 2018
February 1, 2018 – PORTSMOUTH, NH – By the end of 2018, the Census of Open & Operating Hotels in the U.S. is expected to grow by 2.5% with 1,145 Projects/130,209 Rooms opening up according to published reports from Lodging Econometrics (LE). Of those expected to open, 514 Projects/50,165 Rooms will be Upper Midscale, the highest count of any chain scale and 45% of all new openings. 556 Projects/59,309 Rooms, almost 50% of new openings, will be suburban locations although the U.S. market with the most anticipated openings is New York with 57 projects/9,534 Rooms. In 2019, the Census is expected to grow another 2.5% by ope...
Data Reveals Risks, Prospects Facing US Hotels in 2018
John Burke | February 1, 2018
By John Burke With the start of the new year, many of us take stock of where we are and what 2018 holds in store. The status of the U.S. hotel industry partly depends on the lens you're looking through—whether you're a franchise company, developer, owner, operator or investor. While the opportunities and strengths of one perspective could be a threat or weakness to another, these items contribute to the big picture, regardless of your role in the industry. Strengths Record occupancy: U.S. hotel occupancy of 65.9% in 2017 is the highest since STR began recording U.S. lodging performance in 1987. Gross operating profit: GOP per avai...
The Clock is Ticking Towards GDPR Compliance; If Your Hotel is Struggling, Beekeeper Can Help
Beekeeper | February 1, 2018
Already GDPR compliant, the Beekeeper digital workplace app protects employees and hotel guests against data threats SAN FRANCISCO, CA February 1, 2018 - In just a few months, the European General Data Protection Regulation (GDPR) will require every hotel in the world to have guidelines in place that protect European Union (EU) residents' personally identifiable information against security breaches. Any hotel that does not comply after May 25, 2018, is risking heavy fines. Beekeeper, developer of a digital workplace app where operational systems and communication channels live within one secure and intuitive platform, announces that it...
Participate in HFTP’s Entrepreneur 20X at HITEC Amsterdam
HITEC | February 1, 2018
Startups should apply online by 16 February, and mentors and volunteers should apply by 20 February Hospitality Financial and Technology Professionals (HFTP®), producers of Hospitality Industry Technology Exposition and Conference (HITEC®), is currently accepting applications for participants, judges and mentors for Entrepreneur 20X (E20X) at HITEC Amsterdam. Those who wish to participate in the European version of E20X can apply online; startups can apply here, and mentors and volunteers can apply here. E20X Amsterdam, a pre-conference event, will take place at 14:30 on Wednesday, 11 April at the RAI Convention Center in Amste...
Penn State School of Hospitality Management and Alumni to Honor CEO of World’s Largest Hotel Company, Arne Sorenson, in 2018
Marriott International | February 1, 2018
UNIVERSITY PARK, Pa. – The Penn State School of Hospitality Management in the College of Health and Human Development and The Penn State Hotel & Restaurant Society (PSHRS), have named Arne Sorenson, president and CEO of Marriott International, as the 2018 Hospitality Executive of the Year. With Marriott's purchase of Starwood last year, it reigns as the world' largest hotel company with over 6,000 hotels, more than 1 million rooms and over 30 brands in 122 countries. The University will honor Sorenson at a reception at the historic Nittany Lion Inn on April 12, 2018. The award and events precede the University's 2018 Blue-Whit...
The Rainmaker Group Ends 2017 with Record-Breaking Growth
Rainmaker | February 1, 2018
Company experiences a 64 percent increase in hospitality property deployments year-over-year ALPHARETTA, GA – Feb. 1, 2018 – The Rainmaker Group (Rainmaker), a leading provider of cloud-based hospitality revenue and profit optimization software, today announced that the company ended 2017 with record-breaking performance and growth. Year-over-year, Rainmaker experienced an astounding 64 percent increase in hospitality property deployments. The revintel® business intelligence solution led the way, with an almost 78 percent increase in property deployments. During 2017, a number of new customers joined Rainmaker's global h...
Authenticity Confronts Branding: Non-Branded Hotel Properties Offer Great Opportunity to Those Who Understand the Market
Steven Marx | January 31, 2018
By Steven Marx Commercial mortgage brokers are always trying to keep up with the latest trends, risks and developments when it comes to real estate. Hotel lending has historically been a specialty understood and embraced by few. What other class of real estate relies on leases that may be as short as one night and also sometimes sees a decrease in net operating income (NOI) as more product is sold? What other real estate type includes an operating business that is often at least as important as the real estate itself? In days gone by, mortgage brokers were most comfortable when their hotel assets were backed by nationally recognized fra...
Graves Hospitality Opens Moxy Minneapolis Uptown Marking Neighborhood’s First New Hotel in Decades
Graves Hospitality | January 31, 2018
The dynamic Uptown neighborhood of Minneapolis welcomed its first hotel in decades this week, Marriott International's playful Moxy Minneapolis Uptown. Owned by Minneapolis-based Graves Hospitality, the six-story, 125-bedroom hotel, situated on the corner of Lake Street and Emerson Avenue, fully embraces modern fun-hunting travelers with its spirit, style and affordable price point. "At Moxy, we believe in the transformative power of play, and we're excited to bring this vibrant spirit to Minneapolis Uptown as we invite our guests to come play with us," said Vicki Poulos, Senior Global Brand Director, Moxy Hotels. "Designed for both the...
AHLA’s President and CEO, Katherine Lugar, Releases Statement on President Donald Trump’s State of the Union
American Hotel & Lodging Association (AHLA) | January 31, 2018
WASHINGTON, D.C. – January 31, 2018 – The following is a statement from Katherine Lugar, president and CEO of the American Hotel & Lodging Association (AHLA), in response to President Donald Trump's State of the Union address: "Tonight, President Trump laid out his agenda to seek continued job creation and economic growth. The hotel industry has been one of the key drivers of economic growth, supporting 8 million jobs and generating $1.1 trillion in annual economic activity. With three out of every five hotels considered a small business, the hotel industry is especially focused on policies that encourage business growth...
Tavistock Launches Tavistock Hotel Collection with First Two Properties at Lake Nona, Orlando: Tavistock Lake Nona Resort and Tavistock Town Center Ho
Lake Nona | January 31, 2018
(Orlando, FL)– Tavistock Development Company, a diversified real estate firm owned by Joe Lewis' international investment organization Tavistock Group, has launched the Tavistock Hotel Collection, a growing hospitality portfolio which will include the Tavistock Lake Nona Resort and the Tavistock Town Center Hotel in Orlando, Florida. Kit Pappas, the newly appointed vice president of hotel management, will oversee the Tavistock Hotel Collection. Tavistock Hotel Collection properties will focus on exceptional services and delivering one-of-a-kind experiences. With a growing portfolio of properties that will be unique to their enviro...
Eight Hotels Join AAA’s Prestigious Five Diamond List for 2018
AAA Inspections | January 31, 2018
ORLANDO, Fla., Jan. 31, 2018 -- AAA has unveiled 121 hotels that earned the AAA Five Diamond Rating in the past 12 months, qualifying them for this year's Five Diamond Award list. Honorees run the gamut from regal historic inns to sleek high-tech high-rises and sprawling coastal resorts. Eight hotels have been added as Five Diamond honorees throughout the past year. "Attaining a Five Diamond Rating is an exceptional accomplishment that signifies meticulous attention to detail, creativity in enhancing comfort, outstanding service and memorable guest experiences," said Michael Petrone, director, AAA Inspections & Diamond...
IHG and Toledo International Partner to Bring Holiday Inn Express to the Heart of Singapore
IHG | January 31, 2018
InterContinental Hotels Group (IHG®), one of the world's leading hotel companies, has announced the signing of a new property in Singapore: Holiday Inn Express Singapore Serangoon. This latest addition to the fast-growing Holiday Inn Express portfolio, in partnership with Toledo International, is located at the emerging hip and creative area, Jalan Besar. Expected to open in 2018, Holiday Inn Express Singapore Serangoon will be situated at the crossroads of Little India and Serangoon and close-by Singapore's commercial and industrial areas, appealing to both leisure and business travellers. The select service hotel will add 120 room...
Hines and Concord Hospitality Enterprises Open the Cambria Hotel Phoenix Chandler – Fashion Center
Cambria Hotels | January 31, 2018
ROCKVILLE, Md., Jan. 31, 2018 -- Choice Hotels International, Inc. (NYSE: CHH), one of the world's largest hotel companies, in collaboration with Hines and Concord Hospitality Enterprises, announced the opening of the Cambria Hotel Phoenix Chandler – Fashion Center. The new 136-room upscale property features a pool with cabanas, fitness room, lounge area, and 1,300 square-feet of multi-function meeting space. In addition, the property has onsite dining, including a menu comprised of locally-inspired specialties, signature cocktails, local craft beers, as well as freshly prepared grab-and-go gourmet salads and sandwiches. Locat...
Miraval Group Appoints Eight Key Executives to Lead Brand Growth and Development
Miraval | January 31, 2018
January 31, 2018 – (Scottsdale, AZ) – Eight executives have been appointed to key leadership positions within Miraval Group to oversee the growth and development of Miraval Arizona, Miraval Life in Balance Spas and all future brand expansion including Miraval Austin and Miraval in the Berkshires. "I am thrilled to welcome these individuals to Miraval Group's executive team," said Marc Ellin, global head of Miraval Group. "With their impressive leadership skills, business acumen and strong work ethic, each individual will play an integral role in ensuring the Miraval brand's continued success." Carl Pratt, Vice President of P...
Olshan Properties Appoints Bruce Valade as Corporate Director of Revenue Management and Sales
Olshan Properties | January 31, 2018
NEW YORK, NY – January 31, 2017 -- Olshan Properties, one of the country's leading private owners, developers and operators of commercial real estate, today announced the appointment of Bruce Valade as Corporate Director of Revenue Management and Sales, reporting to Olshan's Head of Hospitality, Ernie Catanzaro. In this newly created role, Mr. Valade, who will be based in Columbus, OH, will be responsible for working with hotels to optimize revenue potentials, introduce sales and revenue best practices, and ensure hotels are utilizing brand equity. In addition, Bruce will assist in contributing to the advancement of Olshan's strat...
North Point Hospitality Group Awards 2017 Executive of the Year to Felton Clark, General Manager of the SpringHill Suites by Marriott in Lumberton, No
North Point Hospitality | January 31, 2018
ATLANTA, GA — January 31, 2018 — North Point Hospitality Group, Inc. is pleased to announce industry veteran, Felton Clark, as their 2017 Executive of the Year. Felton first joined the company in February 2002 and has since served in many roles to include his current position as General Manager of the SpringHill Suites by Marriott in Lumberton, NC. "It has been an honor to work with Felton over the last several years," said Whip M. Triplett, Executive Vice President of North Point Hospitality Group. "Felton has always served from the heart and that spirit of hospitality has catapulted him from his first position wi...
Four Sisters Inns Acquired by In-House Executive Team; Tamara Mims New President
Four Sisters Inns | January 31, 2018
(MONTEREY, CALIF.) – Four Sisters Inns has been acquired by an in-house executive team led by long-time company employees Tamara Mims and Joni Costa, it was announced today. Mims, formerly Vice President, has been named President of the hotel management company. Costa retains her position as Chief Financial Officer. Shelley Post, one of the original "four sisters" for whom the group is named, moves from President to a new role: Founder and Senior Consultant. Going forward, Post will continue to work on company strategy and ensuring a smooth transition. Under Post's stewardship, Four Sisters Inns has grown from its 1970s roots as a...
Le Grand Amman – Managed by AccorHotels to Transition to Sofitel Amman Following Extensive Refurbishment in Late 2019
AccorHotels Middle East | January 31, 2018
AccorHotels, the world's leading travel and lifestyle group, has announced the rebranding of a prominent landmark hotel in Jordan to Le Grand Amman - Managed by AccorHotels. The property consists of 298-rooms and 67 well-appointed serviced apartments and was launched in partnership with Iskan Co. for Touristic & Hotel Investments. Le Grand Amman is situated near the upcoming Abdali Downtown Project, a ground-breaking development that is set to become Amman's premiere leisure, tourism and business hub. Catering towards a growing number of business travelers, the hotel is located at the center of the Shmeisani commercial hub c...
The 93rd Annual Hotel Ezra Cornell Conference Theme “A Sense of Place” to Explore the Experience Era in the Hospitality Industry
the School of Hotel Administration at Cornell University | January 31, 2018
Co-owner of Make It Nice, Will Guidara '01, to speak on new trends in the area of guest experience Ithaca, NY, Jan. 2018 – The 93rd Annual Hotel Ezra Cornell will once again return to the campus of Cornell University on March 15-18, 2018, to be held at the Statler Hotel in Ithaca, NY. The theme for this year's conference, "A Sense of Place", explores the rise of the experience era in hospitality through a variety of panels, workshops and specialized events. A 93-year-old tradition of the School of Hotel Administration, Hotel Ezra Cornell is one of the most beloved events at Cornell University and an unparalleled introduction to th...
Upper Midscale and Upscale Projects Lead the U.S. Construction Pipeline Comprising 67% of Total Pipeline
Lodging Econometrics | January 31, 2018
January 31, 2018 – PORTSMOUTH, NH – Analysts at Lodging Econometrics (LE) report that the Upper Midscale category stands at 2,129 Projects/211,724 Rooms, and has the largest project count of all chain scales in the Total U.S. Construction Pipeline. The second largest is the Upscale category which has 1,339 Projects/172,723 Rooms. Together, the Upper Midscale and Upscale Pipelines comprise 67% of all projects in the Total Pipeline. The brands with the largest number of projects in Upper Midscale are: IHG's Holiday Inn Express with 444 Projects/41,343 Rooms; Hilton's Home2 Suites 355 Projects/37,188 Rooms and Hampton Inn &...
Fillmore Capital Partners and Fillmore Hospitality Open New Build Cambria hotel & suites in Nashville
Cambria hotels & suites | January 31, 2018
Nashville, TN—Jan 2018—Choice Hotels International, Inc. (NYSE: CHH), one of the world's largest hotel companies, Fillmore Capital Partners and Fillmore Hospitality are proud to announce the opening of the Cambria hotel & suites in Nashville. Located in the heart of SoBro--at 8th Avenue and McGavock--Cambria opens with 255 custom-designed rooms, a sleek rooftop pool, barista bar, and a stunning 2,800 square foot music venue called True Listening Room & Bar. A 9,400 square-foot restaurant, called NashHouse, Southern Spoon and Saloon, will open in April 2018. While the Cambria brand has 32 hotels across the country...
Agilysys’ Lodging Management System® Adds Mobile Housekeeping to Help Customers Increase Productivity and Maximize Revenue
Agilysys | January 31, 2018
New Housekeeping Functionality in Industry-Leading Property Management System Includes Real-Time Updates ALPHARETTA, GA. — January 31, 2018 — Agilysys, Inc. (Nasdaq: AGYS), a leading global provider of next-generation hospitality software solutions and services, today announced new mobile housekeeping capabilities in the latest release of its Lodging Management System® (LMS). In addition to Mobile Housekeeping, LMS 7.4, announced during G2E in October of 2017, includes a wide range of new industry-leading features and add-on functionality that will enable operators to improve operational efficiency and drive revenue. Mob...
