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Hospitality Financial and Technology Professionals | June 25, 2024
Industry Happenings
Westgate Resorts Reveals Details of $14 Million Transformation of Westgate Cocoa Beach in Florida Opening Summer 2018
Westgate Resorts | January 10, 2018
Cocoa Beach, Fla. – Jan. 10, 2018 – Westgate Resorts released details of its new Cocoa Beach resort and invites visitors to experience the finest resort in Cocoa Beach. Coming summer 2018, Wakulla Suites will be completely transformed into Westgate Cocoa Beach Resort after a $14 million comprehensive renovation that is already 50 percent complete. The fully renovated property will boast two-bedroom, two-bathroom and fully equipped high-end condominiums; a tropical-themed water park with a lazy river, splash pad and water play area and a variety of exclusive concierge level services unique to the Space Coast. Guests can now r...
W Hotels Partners with Sekisui House for New 337-Room W Osaka in Japan Slated to Open 2021
W Hotels Worldwide | January 10, 2018
W is about to rise up in the Land of the Rising Sun. W Hotels Worldwide, part of Marriott International, today announced the signing of W Osaka, slated to open in 2021. Owned by Sekisui House, a long-standing partner of Marriott International, this opening will be the first-ever W in Japan. The 27-floor, new-build hotel will boast provocative and bold W design, sparking imagination in each of its 337 guestrooms and suites, electrifying restaurants and cocktail-centric bars. "In 2020, Japan will capture the global spotlight, welcoming nations from around the world to the country on a grand scale for the 2020 games. This is a great build ...
IBC Hospitality Technologies Taps Top Advisors
IBC Hospitality | January 10, 2018
Company launches powerhouse Advisory Board to direct its technology and strategy in 2018 Phoenix (January 10, 2018) – IBC Hospitality Technologies is entering the new year with a newly-formed Advisory Board. The high-profile panel of experts will lend advice and provide guidance on IBC's technology and strategy, helping the company to capitalize on opportunities in areas such as strategic partners, search, loyalty rewards, voice, artificial intelligence, data science, cybersecurity and sustainable growth. IBC is the world's most comprehensive solution for providing independent hotels with proprietary software to manage distributio...
Viceroy Hotel Group Takes Over Management of Hotel Mar Adentro Reopening Spring 2018 as Viceroy Los Cabos
Viceroy Hotel Group | January 10, 2018
LOS ANGELES, Jan. 10, 2018 -- Viceroy Hotel Group today announces plans to bring a provocative new luxury hospitality experience to the dynamic resort destination of Los Cabos, Mexico. In a groundbreaking move by the hospitality brand, Viceroy Los Cabos will open in Spring 2018, having taken over management of Hotel Mar Adentro, originally created by leading Mexican architect Miguel Angel Aragonés. The striking hotel will re-launch as Viceroy Los Cabos, the group's 14th property, and a member of The Viceroy Icon Collection. The launch will coincide with the resort hosting the 2018 'Gala de Danza,' a mesmerizing dance ...
Serent Capital Invests in BirchStreet Systems, a Leader in Procure-to-Pay Business Solutions
BirchStreet Systems | January 10, 2018
San Francisco, CA – January 10, 2018 – Serent Capital, a San Francisco-based private equity firm focused on investing in high-growth technology and services businesses, has made a minority investment in BirchStreet Systems, the leading provider of cloud-based procure-to-pay automation software for customers in the hospitality, restaurant, and foodservice industries. BirchStreet's suite of solutions encompasses eProcurement, Accounts Payable Automation, Inventory Management, Recipe System Management, and Capital Projects. The software increases efficiency by streamlining many manual processes and creates a comprehensive, inte...
Sunstone Hotel Investors Completes Sale of 289-Room Marriott Philadelphia and 464-Room Marriott Quincy for $139 Million
Sunstone Hotel Investors, Inc. | January 10, 2018
ALISO VIEJO, Calif., Jan. 10, 2018 -- Sunstone Hotel Investors, Inc. (the "Company" or "Sunstone") (NYSE: SHO) today announced the sale of the 289-room Marriott Philadelphia and the 464-room Marriott Quincy for a combined gross sale price of $139.0 million, or approximately $184,600 per key. The sale price represents a 10.3x multiple on combined 2017 Hotel Adjusted EBITDA of $13.5 million and an 8.3% capitalization rate on combined 2017 Hotel Net Operating Income and excludes approximately $12 million of brand required capital expenditures. The disposition of these two hotels furthers the Company's stated strateg...
Real Hospitality Group Appoints Key Leadership Roles
Real Hospitality Group | January 10, 2018
OCEAN CITY, Md., Jan. 10, 2018 -- Real Hospitality Group is pleased to announce the addition of several key leadership roles. James Zito, Senior Vice President of Sales & Marketing, Dana English, as Vice President of Owner Support and Development, Jeannine Graham as Regional Director of Sales & Marketing for the Independent Collection, Will Speidel as Regional Director of Sales & Marketing, and Dave Ditto, Regional Director of Operations, Southern US. "As we continue to expand our portfolio, and maintain our 'Best in Class' reputation, I am thrilled to welcome this distinguished group of hospitality professional...
Hyatt Regency Lake Tahoe Welcomes New Marketing Manager, Kressa Olguin
Hyatt Regency Lake Tahoe Resort, Spa and Casino | January 10, 2018
INCLINE VILLAGE, Nev. (January 10, 2018) – Hyatt Regency Lake Tahoe Resort, Spa and Casino announces the appointment of Kressa Olguin as the property's new marketing manager. Olguin brings over 10 years of sales experience with Hyatt and a passion for marketing to her new role at Hyatt Regency Lake Tahoe Resort, Spa and Casino. "I am excited to continue my career with Hyatt and am honored to join the Hyatt Regency Lake Tahoe family," says Kressa Olguin, the resort's marketing manager. "The resort has built an exceptional team for 2018 and I look forward to bringing my experience and strategies in marketing to another fantastic Hya...
Pyramid Hotel Group Names Joseph Mills as Executive Chef for New Sheraton Los Angeles San Gabriel Hotel
Sheraton Los Angeles San Gabriel Hotel | January 10, 2018
LOS ANGELES (Jan. 10, 2018) – The new Sheraton Los Angeles San Gabriel Hotel is proud to welcome a familiar face to the incredibly diverse Los Angeles culinary scene, adding Joseph Mills as Executive Chef. Most recently as Executive Chef of Westin Bonaventure, Joseph brings a focus in creating modern menus, sourcing local ingredients, and southern California-style cooking to the food and beverage programs at Sheraton Los Angeles San Gabriel, set to open in January 2018. Joseph has created entirely unique menus and beverage programs for The Sheraton Los Angeles San Gabriel, assembling the entire team to staff hotel's EST. Prime Ste...
Paramount Lodging Advisors West Coast Office Sells California Courtyard by Marriott Land
Paramount Lodging Advisors | January 10, 2018
Paramount Lodging Advisors (PLA) has successfully executed the sale of a land parcel with approvals for a 122-room Courtyard by Marriott development located in Petaluma, California. Senior Managing Director Scott Griemsmann represented the seller in this transaction. The hotel itself will be part of the 35-acre "Riverfront" mixed use development. It is currently planned to include office, residential, retail, and 7.5 acres of open space. "We are very pleased with the results for this transaction. This is a great project in a high barrier to entry market that has easy access to Napa/Sonoma wine country and the San Francisco Bay Area. Thi...
Sonnenblick-Eichner Company Arranges $110,000,000 of First Mortgage Financing for InterContinental San Francisco
Sonnenblick-Eichner Company | January 10, 2018
Beverly Hills, California – January 10, 2018 – Sonnenblick-Eichner Company announced today that it has arranged $110 million of first mortgage financing to refinance the InterContinental San Francisco, a 32-story, 550-room hotel located adjacent to San Francisco's Moscone Convention Center in the South of Market district (SOMA) of downtown San Francisco, California. The Four-Diamond, AAA-rated hotel includes 43,000 square feet of meeting, banquet and pre-function space; Luce, a Michelin rated restaurant; a 10,000 square-foot spa and subterranean parking accommodating 180 valet spaces. The interest rate for this 10-year, non-...
IDeaS Revenue Solutions and Springer-Miller Systems Expand Strategic Partnership
Springer-Miller Systems | January 10, 2018
Technology integration will allow the seamless flow of transactional data between PMS and RMS to support ideal pricing at the room type level Tweet this: #RevenueManagement leader @IDeaS_RevOpt partners with @SpringerMiller property management system to optimize pricing across a variety of room segments www.ideas.com/about/news MINNEAPOLIS – January 10, 2018 – Through an integration announced from IDeaS Revenue Solutions and Springer-Miller Systems, hotels and resorts will now be able to analytically optimize room type pricing – utilizing the transaction-level data provided by Springer-Miller's SMS|Host Property Manag...
Owned by Starwood Capital and Managed by Aimbridge Hospitality, Courtyard by Marriott Opens in Woodbury, Minnesota
Courtyard by Marriott | January 10, 2018
Woodbury, MN – January 11, 2018 – Courtyard by Marriott St. Paul/Woodbury is scheduled to open its doors in Woodbury, Minnesota today, January 11, 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 185 Radio Drive, the 120-room hotel will operate as a Marriott franchise, owned by Starwood Capital and managed by Aimbridge Hospitality of Plano, Texas. Whether traveling for business or pleasure, the Courtyard St. Paul/Woodbury offers guests convenient access ...
VAT in the Hospitality Sector in UAE
Deepak Chauhan | January 10, 2018
by Deepak Chauhan Running a successful business in the hospitality sector can be challenging. In a world of continuous changes, only the most updated business will survive. It is all about applying the latest technologies to update the system in order to provide the best services. With the new VAT imposed, some businesses might find it a little bit tricky to keep track of their finances the way they should. Taxes can be miscalculated and hotel may end up charging wrong prices, which may result not in losses but also penalties from VAT department. Most of the supplies of hotels and leisure are taxable under the VAT, signed in February 20...
Lodging Interactive Integrates IBM Watson Supercomputer to Offer Social Media A.I. for Hospitality Industry
Lodging Interactive | January 10, 2018
PARSIPPANY, NJ - January 10, 2018 Lodging Interactive, an award winning digital marketing and social media engagement agency exclusively serving the hospitality industry, today announced the roll-out of its CoMMingle AI social media management platform for the hospitality industry. A hospitality industry first, CoMMingle AI leverages the power of IBM's Watson Supercomputer, enabling Lodging Interactive to analyze big data sets across Facebook, Instagram and Twitter through the use of Artificial Intelligence technologies. "Our CoMMingle AI platform allows our agency to read through and analyze the engagement effectiveness of social media...
PlumpJack Group Completes Year-long Historic Restoration of the Ingleside Inn & Melvyn’s Restaurant in Palm Springs, Calif.
Ingleside Inn & Melvyn's Restaurant | January 9, 2018
The newest chapter in the legendary history of Ingleside Inn & Melvyn's Restaurant begins as the Palm Springs Historic Landmark debuts its elevated refresh following a property-wide revitalization and restoration project. Equal parts past and present day, and infused with modern touchpoints, the 30-room Inn offers a luxurious, quiet respite located where the San Jacinto Mountains meet the heart of Palm Springs. "Being one of Palm Springs' first resort-style escapes, Ingleside Inn has embodied elegant Hollywood glamour since its early days, and we wanted to honor its authenticity and splendor while elevating the guest experience," sa...
It All Starts with Strategy at HSMAI’s Digital Marketing Strategy Conference
HSMAI | January 9, 2018
(McLean, VA, January 9, 2018) The Hospitality Sales and Marketing Association International (HSMAI) is pleased to announce that the 2018 HSMAI Digital Marketing Strategy Conference will take place February 21 at the New York Marriott Marquis. Focusing on strategy and innovative solutions, the event will bring together senior leaders in hotel marketing and their partners for thought-provoking conversations, presentations with practical applications, and the latest tools and insights to drive revenue and engage guests. HSMAI's 2018 Digital Marketing Strategy Conference will be held the day after the HSMAI Adrian Awards Gala. The theme of ...
AHC+Hospitality Appoints Kylene Geyer as Senior Marketing Manager and Ashley Savransky as Marketing Coordinator
AHC+Hospitality | January 9, 2018
GRAND RAPIDS, MI – January 9, 201 – AHC+Hospitality has expanded its marketing team under the leadership of Chief Marketing Officer Chad LeRoux to further advance the hospitality management company's marketing abilities as it continues to grow in 2018. Kylene Geyer has been promoted to senior marketing manager and Ashley Savransky has joined AHC+Hospitality as marketing coordinator. Both will support and execute marketing efforts for the brand's collection of owned and managed properties across the U.S. and internationally. "As AHC+Hospitality continues to grow in new markets, expanding our marketing team will allow us to st...
Sage Hospitality Appoints Chaya Donne as Director of Sales and Roque Medina as Food & Beverage Director for Hotel Nia
Hotel Nia | January 9, 2018
(MENLO PARK, CA; January 9, 2017)—Hotel Nia (200 Independence Dr.), a luxury hotel located in the heart of Silicon Valley, announces Chaya Donne as Director of Sales and Marketing and Roque Medina as Food & Beverage Director. The 250-room property is scheduled to open spring 2018. Bringing over 25-years of sales experience and 22-years of hospitality experience to her role, Donne is responsible for all aspects of sales, including associate development, budget management and providing vision on both short and long-term strategies to achieve competitive financial goals. Medina brings over 23-years of domestic and international h...
The Buccini/Pollin Group Acquires 238-Room Hilton Melbourne Rialto Place in Florida
The Buccini/Pollin Group | January 9, 2018
Washington, DC, January 9, 2018—Officials of The Buccini/Pollin Group, a privately held, full-service real estate acquisition, development and management company (BPG), today announced that it has acquired the 238-room Hilton Melbourne Rialto Place in Melbourne, Fla. PM Hotel Group, a leading, national hotel management company based in Washington, D.C., will operate the hotel. "BPG's recent acquisition of the beautifully renovated Hilton Melbourne Rialto Place reflects the continued success of our strategy of acquiring newly renovated, premier-branded, full-service hotels in key business markets across the US," said Dave Pollin, c...
2018 Commercial Real Estate Lending Predictions
Brian Holstein | January 9, 2018
By Brian Holstein Borrowers and lenders both enjoyed a fruitful 2017 and US Hotel Advisors predicts that 2018 will be more of the same. Looking Back at 2017 Most experts predicted that 2017 would be a rough year for commercial real estate lenders and borrowers alike. The "Wall of Maturities" was supposed to come crashing down. The newly-instituted risk-retention regulations were expected to curtail lending capacity and damage liquidity. Both the 10-year Treasury rate and loan spreads were projected to rise. All of this sounds dreadful, unless of course it never happened. US Hotel Advisors took the contrarian view and got it right. The "...
HITEC Houston Online Registration and Housing Bureau Open; Advisory Council Announced
HITEC | January 9, 2018
Hospitality Financial and Technology Professionals (HFTP®), producers of the world's largest Hospitality Industry Technology Exposition and Conference (HITEC®), has announced that attendee registration for its HITEC Houston is now available online as well as hotel reservations. Selected by HFTP leadership for their experience and expertise, the HITEC Houston Advisory Council will determine event's education program. HITEC Houston will be the second, and largest, HITEC event of 2018, and will take place from June 18-21 at the George R. Brown Convention Center in Houston, Texas USA. "The selection process for HFTP'...
TripAdvisor Reveals Travelers’ Choice Top Trending Travel Destinations for 2018
TripAdvisor | January 9, 2018
NEEDHAM, Mass., Jan. 9, 2018 -- TripAdvisor®, the travel site that helps find the latest reviews and lowest prices, today announced the Travelers' Choice® awards for Destinations on the Rise. The pristine blue waters and white sandy beaches of beautiful Ishigaki, Japan earned the ranking of number one in the world, while the small Hawaiian town of Kapaa, nestled at the base of Nounou Mountain on the picturesque island of Kauai ranked as the top rising spot in the U.S. The awards recognize 44 destinations around the world selected by measuring year-over-year increase in positive TripAdvisor traveler review ratings for accommo...
BENCHMARK® Named Best Hospitality Property Management Company-USA in Second Annual LUX Tourism Awards
January 9, 2018
UK's Luxury Lifestyle Magazine Honors Leaders in Tourism, Food & Wine, Art, Fashion The Woodlands (Houston), Texas, January 2018 … The UK's prominent luxury lifestyle magazine, LUX, has named BENCHMARK®, global hospitality company, Best Hospitality Property Management Company – USA for 2018. The honor was given as part of the magazine's Second Annual Tourism Awards. LUX Magazine honors global leaders in travel, hospitality, the arts, food and wine, fashion and interior design. The luxury publication is distributed to a readership of over 238,000 professionals across the globe. The LUX Tourism Awards 2018 recognize t...
