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Hospitality Financial and Technology Professionals | June 25, 2024
Industry Happenings
Fitch: Hotel Oversupply Raising US CMBS Loan Concern
Fitch Ratings | January 30, 2018
Early warning signs of declining hotel performance have emerged, says Fitch Ratings. Fitch has seen an increase in the volume of hotel loans transferring to special servicing and performance metrics in seven of the top US metropolitan markets are under pressure by oversupply. However, we expect revenues across the broader US market to grow through the end of 2018, albeit slowly, and the impact on CMBS to be limited this year. Fitch began to observe signs that the US hotel market was peaking in 2014. In the second half of that year, we began to cap revenue per available room (RevPAR) in our ratings analysis to address cash flow sustainab...
HSMAI Announces Americas Board of Directors and Executive Committee for 2018
HSMAI | January 30, 2018
(McLean, VA, January 30, 2018) The Hospitality Sales and Marketing Association International (HSMAI) is pleased to announce its 2018 Americas Board of Directors and Executive Committee. The board comprises a diverse range of executives from a representative mix of HSMAI members. "We're thrilled to be welcoming such an innovative and diverse group of individuals to the 2018 Americas Board of Directors," said Robert A. Gilbert, CHME, CHA, president & CEO of HSMAI. "Having such a future-focused board will ensure that HSMAI continues to be a key resource to its members—and the rest of the hospitality industry—in helping them...
Important News for Hospitality Executives: How the New Tax Act Could Affect Your Estate Plan
Jim Butler | January 30, 2018
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 30 January 2018 If you are a hotel executive or other highly compensated individual in the hospitality industry, you need to be aware of how the new Tax Act (H.R. 1 – Tax Cuts and Jobs Act) might affect your estate plan. In some cases, the impact will be significant. In the brief article below, JMBM's tax attorneys recommend that you review your existing estate plan to ensure that the Tax Act does not alter your plan's original intentions. They also point to substantial new planning opportunities provided by the Tax Act, and you wil...
WebRezPro PMS Integrates TTI Scan2PMS ID Scanning Solution
TTI Technologies | January 30, 2018
Direct integration of WebRezPro Property Management System and Scan2PMS streamlines efficiency and boosts security Calgary, AB –Jan 30, 2018 – World Web Technologies Inc. (WWT) is pleased to announce a direct interface between its WebRezPro cloud property management system (PMS) and TTI Technologies' Scan2PMS, an ID and passport scanning solution. The direct interface between WebRezPro and Scan2PMS provides increased efficiency to the modern hotelier, resulting in a higher level of customer service. TTI Technologies' scanning solution can scan over 2,500 types of international identification cards (IDs) including driver's li...
Angie Hospitality, 2017 TechOvation Award Winner, Returns as Gold Sponsor of HT-NEXT 2018 Conference
Angie Hospitality | January 30, 2018
Creator of industry's only purpose-built interactive guest room assistant partners with leading hotel technology conference as sponsor of 2018 event SAN JOSE, Calif. – January 30, 2018 – Angie Hospitality, developer of the world's first enterprise-class, cloud-managed interactive guest room assistant, purpose-built for the hotel environment, is announcing its sponsorship of HT-NEXT 2018, taking place in San Diego from March 12-14 at the Manchester Grand Hyatt. One of the fastest growing industry events, the three-day conference combines Hospitality Technology's Hotel Technology Forum and HTNG's North American Conference to o...
Going Safe May Leave You Sorry When It Comes to Your Hotel Technology Decisions
January 30, 2018
By Jos Schaap CEO and Founder - StayNTouch It has long been said that making the safe choice when investing in a hotel technology partner is always the right decision. This is a recognized phenomenon, epitomized by the traditional axiom of purchasing agents that "nobody ever got fired for buying IBM equipment." While it is true that large well-established tech brands tend to be more widely adopted and influential, they may not be the best choice for every business, and in fact, could leave you regretting your decision in the long run. We see a substantial amount of consolidation with the operations side of the hotel industry lately. Jus...
Viejas Casino & Resort Selects InfoGenesis® POS and rGuest® Pay from Agilysys to Ensure the Security of Guest Information and Enhance the Guest Expe
Agilysys | January 30, 2018
San Diego-Based Indian Gaming Resort Expands Relationship with Agilysys at New Tower ALPHARETTA, GA. — January 30, 2018 — Agilysys, Inc. (Nasdaq: AGYS), a leading global provider of next-generation hospitality software solutions and services, today announced that Viejas Casino & Resort will implement Agilysys InfoGenesis® POS, InfoGenesis® Flex and rGuest® Pay, to optimize food and beverage delivery and enhance guest service throughout the planned casino expansion. The Forbes Travel Guide 4 Star and AAA 4 Diamond rated Viejas Casino & Resort will open a new luxury tower called Willows Hotel & Spa on T...
Agilysys LMS Increases Payment Security with Support for Elavon Payment Gateway Services
Agilysys | January 30, 2018
Industry-Leading Property Management System Extends Payment Compatibility ALPHARETTA, GA. — January 30, 2018 — Agilysys, Inc. (Nasdaq: AGYS), a leading global provider of next-generation hospitality software solutions and services, today announced general availability of its Lodging Management System® (LMS) version 7.3.6 for those customer that are not ready to move to LMS 7.4. This version includes several enhancements for payment options, such as support for rGuest® Pay Connect and rGuest® Pay iFrame. Agilysys LMS is recognized as one of the hospitality industry's premier property management solutions, wit...
The University of Rhode Island Issues Request for Qualifications and Expressions of Interest for Real Estate Development on the URI Kingston Campus un
University of Rhode Island | January 29, 2018
The University of Rhode Island has fee title to a 4.2 acre site located at 85 - 95 Upper College Road, Kingston, RI and is seeking a qualified commercial real estate developer or development team to develop and operate a new 100 guest room hotel, with some extended stay rooms, and a new mixed-use retail/office/apartment building on the Site, across from the core historic campus quadrangle, a National Historic Landmark. This is a unique property with access to a University population over 20,000. Additionally, the subject site is proximate to various other regional demand generators, such as the area beaches in Narragansett and Newport. ...
309-Room DoubleTree by Hilton Burlington Vermont Joins DoubleTree Portfolio Following Major Renovation Led by General Manager Tristan Harris
DoubleTree by Hilton | January 29, 2018
BURLINGTON, Vt. - January 29, 2018 - DoubleTree by Hilton Burlington Vermont, a 309-room, state-of-the-art, full-service, conference center hotel, located just five minutes from downtown Burlington and the city's major attractions, is the latest addition to the growing portfolio of DoubleTree by Hilton, one of Hilton's (NYSE: HLT) 14 market-leading brands. "We are the new cookie in town and are pleased to further enhance and strengthen Hilton's existing presence in the Burlington area, joining Hilton Burlington, Hilton Garden Inn Burlington Downtown, Homewood Suites by Hilton Burlington and Hampton Inn Burlington,"...
Gehr Hospitality Selects McKibbon Hospitality to Manage Aloft Jacksonville Airport
McKibbon Hospitality | January 29, 2018
Tampa, F.L. (January 29, 2018) – McKibbon Hospitality, an award-----winning leader in the hotel development and management industry, announced today that it has added the Aloft Jacksonville Airport hotel to its management portfolio. Owned by Gehr Hospitality, the hotel is located three miles from the Jacksonville International Airport and just 15 miles north of downtown Jacksonville. The new management contract expands McKibbon Hospitality's presence in Jacksonville, where the company currently manages the Homewood Suites Jacksonville-South/St. Johns Center. It also adds a new Aloft Hotel to McKibbon's portfolio, in addition to th...
New Castle Hotels & Resorts Promotes Anna Barker to Vice President Corporate Accounting
New Castle Hotels & Resorts | January 29, 2018
SHELTON, Conn. - - February 29, 2017— Judi Scofield, chief financial officer of New Castle Hotels & Resorts, a leading third-party hotel management company, owner and developer, today announced the promotion of Anna Barker to vice president corporate accounting. Barker most recently was the senior director of corporate accounting. She joined the company in 1992 as a member of the accounts payable team and advanced steadily through the property accounting department before joining the corporate treasury and finance team in 2001 as an analyst. In her new role, Barker will be responsible for the corporate accounting department, o...
Waterford Hotel Group Appoints Lisa Reeser to General Manager of Courtyard by Marriott Lake Placid
Courtyard by Marriott Lake Placid | January 29, 2018
WATERFORD, CT (January 29, 2018) – Waterford Hotel Group has announced the appointment of Lisa Reeser to General Manager of Courtyard by Marriott Lake Placid. As General Manager, Reeser is responsible for all aspects of the hotel's operations. Waterford Hotel Group, a national hotel and convention center management firm, manages the 96-room hotel. Reeser joins Waterford Hotel Group with more than 25 years of hotel management experience. She started her management career as the Assistant Front Office Manager at the Adam's Mark Hotel in Philadelphia. She then went on to become the Rooms Division Manager position at the Nassau Inn lo...
Leonard Buckley Appointed General Manager for The Ritz-Carlton, Philadelphia
The Ritz-Carlton, Philadelphia | January 29, 2018
PHILADELPHIA, PA. (January 2018) – The Ritz-Carlton, Philadelphia is proud to announce the appointment of Leonard Buckley as general manager. Mr. Buckley joins the historic hotel with thirty nine years of hospitality management experience. A tenured industry veteran, Mr. Buckley will be responsible for all aspects of operations at the hotel. As a Philadelphia native, Mr. Buckley began his hospitality career while working toward his Marketing degree at Drexel University. Prior to joining Starwood Hotels and Resorts, he held various operational roles at Canadian Pacific Franklin Plaza and Bellevue Hotel, then operated by Cunard Hote...
Radical Innovation 2018 Call for Entries Through April 1st
Radical Innovation | January 29, 2018
Competition Open for Submissions Through April 1st January 2018 (New York, NY) – Radical Innovation, an annual competition that calls for the best and brightest innovative concept ideas in the hospitality sphere, announces the opening of its 2018 edition. Both professionals and students alike are encouraged to submit their concepts online December 15th through April 1st. Having awarded over $150,000 since its founding in 2006, Radical Innovation recognized a record five hospitality concepts last year. Though diverse, the finalists were united in their cleverness—from the winning project, an eco-conscious treetop resort known...
San Diego’s Fairmont Grand Del Mar Welcomes Dennis Clark as Managing Director
| January 29, 2018
SAN DIEGO, CA, JANUARY, 2018 – Dennis Clark has been appointed Managing Director at Fairmont Grand Del Mar. In this role, Dennis will be responsible for the overall operations, performance, and strategic direction for Fairmont Grand Del Mar. Mr. Clark brings over 40 years of hospitality experience to this position, first joining Hyatt Hotels in 1976. In 1983, Dennis joined Ritz Carlton hotels where he held several progressive positions and served on numerous opening and transition food & beverage teams. In 1994, Dennis joined Fairmont Hotels & Resorts as Director, Food & Beverage at Fairmont San Jose and held that posi...
Hard Rock International Appoints Jeffrey Hook Executive Vice President of Development and Marketing
Hard Rock International | January 29, 2018
HOLLYWOOD, Fla. – Hard Rock International, with an expanding global network of hotels and casinos, announces the promotion of Jeffrey Hook as executive vice president of development and marketing. In his new position, Hook will be responsible for the global development of Hard Rock Casinos outside of the Asian continent, where the company's CEO of Asia, Ed Tracy, will continue to be responsible for casino development. Hook was most recently senior vice president of business development and marketing for Hard Rock International. Hook's promotion was announced by Hard Rock International Chairman, Jim Allen, who applauded his accompl...
Concord Hospitality Breaks Ground on Dual-Branded Homewood Suites and Hampton Inn in Greater Boston
Concord Hospitality Enterprises Company | January 29, 2018
235-room Homewood Suites and Hampton Inn slated to open in Woburn Landing WOBURN, M.A. (Jan. 29, 2018) – Concord Hospitality Enterprises has broken ground on its first property in the Greater Boston area, the dual-branded Homewood Suites and Hampton Inn – Woburn M.A. Working with partners Madison Properties and Whitman Peterson, Concord is the lead developer and will manage the property. Group One Partners will serve as the project architect, with Callahan Construction as the general contractor. Upon completion in late 2019, the dual-branded property will feature 235 guest rooms. The Homewood Suites will include 103 fully eq...
RLH Corporation Executes Five Hotel Purchase and Sale Agreements
RLH Corporation | January 29, 2018
DENVER (January 29, 2018) — RLH Corporation (NYSE:RLH) today announced the execution of five hotel purchase and sale agreements resulting from the previously disclosed listing for sale of 11 company-owned hotels. The five sales are currently anticipated to close in February or early March, 2018, subject to standard contingencies and closing conditions. The sale prices contracted on these five assets exceeded the company's expectations. The real estate market conditions remain robust and RLH Corporation was able to negotiate pricing for these first five hotels reflecting single-digit cap rates. The company expects to maintain Red L...
Marriott, Hilton and IHG Lead U.S. Construction Pipeline Comprising 69% of Total Pipeline
Lodging Econometrics | January 29, 2018
January 29, 2018 – PORTSMOUTH, NH – According to the recent United States Construction Pipeline Trend Report from Lodging Econometrics (LE), the franchise companies with the largest construction pipelines are; Marriott with 1,410 Projects/180,647 Rooms, Hilton with 1,287 Projects/144,958 Rooms and IHG with 831 Projects/84,865 Rooms. These 3 franchise companies comprise 69% of all projects in the Total Pipeline. The largest brands for each of these companies are: Marriott's Fairfield Inn with 303 Projects/29,051 Rooms and TownePlace Suites with 208 Projects/21,299 Rooms; Hilton's Home2 Suites with 355 Projects/37,188 Rooms an...
Hospitality Financial Leadership – Every Line Needs an Owner
David Lund | January 29, 2018
By David Lund My dear mother Donna often recited her favorite sayings, especially when she wanted to make a point. She had some really good sayings, and several have stuck with me. One of them I relate to hotel financial leadership. Her saying was "Many hands make light work." How does that relate to creating an engaged leadership team at your hotel? Let me explain. It is true in any aspect of our lives at home and work that teamwork makes things easier. The reason it makes them easier is that we have more effort directed toward the thing we are trying to do. The simplest example is trying to lift a heavy rock. If we work in a coordinat...
Agilysys Donates Property Management Software to University of Nevada, Las Vegas to Assist Hospitality Students in Practical Learning
Agilysys | January 29, 2018
UNLV's Harrah College of Hospitality and Agilysys Partner to Promote Learning at Current Campus and New Hospitality Hall ALPHARETTA, GA. — January 29, 2018 — Agilysys, Inc. (Nasdaq: AGYS), a leading global provider of next-generation hospitality software solutions and services, and UNLV's Harrah College of Hospitality, today announced that Agilysys is providing their industry-leading property management system, LMS®, for use by students and teachers as part of the hospitality educational program at the college. Installation of the software, training of employees and ongoing support are included in the partnership, allowi...
How is the Hotel Industry Using AI to Provide an Awesome User Experience?
Mitul Makadia | January 29, 2018
by Mitul Makadia In the 21st century, industries that remain adamant about integrating new technological revolutions are most likely to regress in their course of development. Businesses across the globe have realized how important it is to include contemporary digital technology to drive constant growth and revenue. The last decade has seen incredible innovations and breakthroughs in the landscape of digital solutions. One of such compelling technologies is called Artificial Intelligence (AI). Often misconceived as a replacement for human power, the concept of AI as a technological aid is much larger, wider and pervasive. It has create...
Nordic Choice Hotels Celebrates Milestone in Security Innovation with Implementation of ASSA ABLOY Hospitality Mobile Access at Multiple Properties
Nordic Choice Hotels | January 29, 2018
Leading Scandinavian hotel chain completes upgrade of more than 3,000 rooms to mobile key functionality with ASSA ABLOY Hospitality Mobile Access Stockholm – January 29, 2018 – ASSA ABLOY Hospitality, the global leader in hospitality security technology, announces the implementation of its Mobile Access keyless entry to more than 3,000 rooms at six Nordic Choice Hotels properties in Stockholm, Sweden. The groundbreaking multi-property upgrade encompassed Clarion Hotel Stockholm, Quality Hotel Globe, Clarion Hotel Amaranten, Hobo, Clarion Sign and Quality Hotel Friends. Officially going live at Nordic Choice Hotels' annual Wi...
