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Hospitality Financial and Technology Professionals | June 25, 2024
Industry Happenings
Developers Omar and Christine Lee Plan Spring 2018 Opening of Tech-Forward, Hotel Interurban in Tukwila, WA
Hotel Interurban | December 4, 2017
TUKWILA, Wash. (December 4, 2017) – Located minutes from downtown Seattle and the Seattle-Tacoma International Airport, Hotel Interurban is scheduled to open in spring 2018 as the newest hotel to enter the Seattle Southside market. Standing 19 stories high, the hotel will become the tallest building in the city and offer 185 guestrooms. Hotel Interurban will feature a two-story lobby boasting a custom glass art installation. It will offer over 15,000 square feet of meeting and event spaces, including the 5,000-square-foot Rainier Room on the 19th floor, with its views of Mt. Rainier. Guestrooms with a clean and contemporary design...
The Plasencia Group Facilitates Sale of Hotel Indigo San Antonio-Riverwalk
The Plasencia Group | December 4, 2017
Tampa, Fla. (December 4, 2017) – The Plasencia Group is pleased to announce the sale of the Hotel Indigo located in the Riverwalk district of San Antonio, Texas. The firm represented LNR Property in the sale of the 149-room hotel to Phoenix Hospitality Group, a San Antonio-based hospitality investment, development and management company. The Plasencia Group's Senior Vice President Robert Wiemer and Vice Presidents Paul Williams and Joe Corcoran advised the client in this disposition. "The new owners of this asset will be able to capitalize on its tremendous potential as a prominent lodging destination in San Antonio's thriving Ri...
Dream Hotel Group and Selene International Celebrate Groundbreaking for $100 Million Dream Palm Springs
Dream Hotels | December 4, 2017
PALM SPRINGS, CA (December 4, 2017) – Developed by Selene International, in partnership with Dream Hotel Group, Dream Palm Springs will be a driving force in the ongoing revitalization of downtown Palm Springs. Located on the corner of Amado Road and Calle Alvarado, adjacent to the Convention Center, the 169-room hotel pairs executive architect Oswaldo D. Lopez with Hirsch Bender Associates (HBA) for design and is expected to open with 30 private residences, multiple experiential dining and nightlife venues and more than 10,000 square feet of flexible meeting space in late 2019. The groundbreaking ceremony for this exciting $100 m...
Why ‘Heart and Soul’ Is Also a Strength in Leadership
James Houran, Ph.D., Dallas | December 4, 2017
By James Houran, Ph.D., Dallas and Keith Kefgen, New York One of the most difficult and humbling things for us human beings is to admit we don't know something. Our brain has evolved over thousands and thousands of years into a three-pound, organic computer with the sole task of "making things more certain." Gaining mastery and a sense of control over our physical and psychological environments is a natural, inherent human drive. Many people assume that admitting ignorance about and asking for help in understanding specific things is somehow a sign of weakness and a public declaration that one is uninformed, incompetent or outright dim-...
The HVS Quarterly Macau Update
Christy Tung | December 4, 2017
By Christy Tung and Daniel J Voellm The past two years have been a difficult period for Macau since the Chinese President Xi Jingping announced a campaign to crackdown corruption and government official's lavish spending, triggering significant slumps in visitor arrivals and revenue growth in the tourism and gaming sectors in Macau. After two years as of 2017, Macau's resilience has been demonstrated through the growing visitor arrivals, hotel performance, and casino revenue, even after the detrimental Typhoon Hato. Macau On 23 August 2017, the Category-10 Typhoon Hato struck Macau to become the worst natural disaster the city had encou...
Don’t Forget the Forgetting Curve! Using Neuroscience to Create Re-memorable Training for Revenue Managers (and others!)
the Authors | December 4, 2017
by W. Todd Maddox, Ph.D., David Hayes, Ph.D., Joshua Hayes, MA Hoteliers know the demand for well-trained revenue managers (RMs) has exploded in recent years. All hotels need a qualified individual whose responsibilities include addressing the property's unique approach to optimizing profitability by recognizing, forecasting, and shaping their customers' buying patterns. The best training programs for RMs address key content in the areas of customer psychology, accounting, sales, marketing, and rooms management, among others. And yet, every hotel GM could likely relate to the following "it really happened" case study; widely used today ...
Kempinski Hotel Bahia Elects to Close During Redesign Due to Impact on Public Spaces
Kempinski Hotel Bahia | December 4, 2017
The five star Kempinski Hotel Bahia in Estepona, Marbella is delighted to announce that the redesign of their lobby and culinary venues will begin at the end of this year, as part of an extensive investment in the hotel. The management team have ambitious plans to create modern, elegant and opulent public spaces, embracing the very essence of Kempinski Hotels, Europe's oldest luxury Hotel Collection, synonymous with luxury travel worldwide. The redesign will run from December 2017 to March 2018, and for the comfort of guests, the hotel and spa will be closed from the 11th of December 2017 until the 16th of February 2018. Closing during ...
Rockbridge, in a Joint Venture with Musselman Hotels Management, Acquires Kentucky’s Seelbach Hilton Hotel
Rockbridge | December 1, 2017
Columbus, OH, December 4, 2017 – Rockbridge announced the acquisition of The Seelbach Hilton in Louisville, Kentucky in a joint venture with Louisville-based Musselman Hotels Management, who will manage the property. "We look forward to working with our local partner and the City to explore potential opportunities for the Seelbach," said Jim Merkel, Rockbridge CEO. The Seelbach Hilton is listed on the National Register of Historic Places. The 321-room property features several restaurants and bars and has more than 32,000 sq. ft. of meeting space. ...
New 106-Key SpringHill Suites by Marriott Opens in Collegedale, Tennessee with General Manager Bill Mish at the Helm
SpringHill Suites by Marriott | November 30, 2017
Collegedale, TN – November 30, 2017 – Marriott International announced today that the SpringHill Suites by Marriott in Collegedale, Tennessee is scheduled to open this Monday, December 4, 2017. The 106-suite hotel, located at 8876 Old Lee Highway, will operate as a Marriott franchise, owned by Ooltewah Hotel Partners, LLC and managed by Gibson Hotel Management of Knoxville, Tennessee. The SpringHill Suites Chattanooga North/Ooltewah is located 15 miles from Lovell Field – Chattanooga Metropolitan Airport, and 20 minutes from downtown Chattanooga. The hotel offers guests convenient access to Hamilton Place Mall, the Ten...
HayMax Hotels Reveals Renovation and Rebranding Details for Hotel Ketchum in Idaho Opening Mid-December
HayMax Hotels | November 30, 2017
KETCHUM, IDAHO (November 30, 2017) — HayMax Hotels, an independent hotel group with properties in Aspen and Sun Valley, today announced the details of its new experiential property, Hotel Ketchum. The $4 million hotel renovation and rebranding project will replace the Clarion Hotel and feature amenities designed to help guests and the local community capture the unique spirit, landscape and experiences of Ketchum, Idaho while also offering sensible, mid-range pricing. Hotel Ketchum is scheduled to open on December 22nd for the 2017/2018 winter season. "I fell in love with Sun Valley the same way, and for the same reasons, many ...
HFTP and HSMAI Region Europe to Co-locate European Conferences in April 2018
HITEC | November 30, 2017
Hospitality Financial and Technology Professionals (HFTP®) and HSMAI Region Europe are pleased to extend their partnership and co-locate European conferences again in April 2018. HSMAI Region Europe will co-locate its Revenue Optimization Conference (ROC) and its Digital and Distribution Optimization Conference (DOC) with HFTP's HITEC® Amsterdam. HSMAI Region Europe's Annual ROC and DOC conferences will take place 10-11 April 2018 at Hotel Novotel Amsterdam City, while HITEC Amsterdam will take place from 11-13 April 2018 at the RAI Amsterdam Convention Centre. HFTP's HITEC is an all-encompassing vehicle that showcas...
Caesars Entertainment Confirms Harrah’s Las Vegas Sale and Leaseback Agreement with VICI Properties
Caesars Entertainment | November 30, 2017
LAS VEGAS, Nov. 30, 2017 -- Caesars Entertainment Corporation (NASDAQ: CZR) ("Caesars Entertainment" or "Caesars") today announced definitive agreements to sell and leaseback the real estate assets associated with Harrah's Las Vegas to VICI Properties ("VICI") and to acquire adjacent land from VICI to develop a planned new 300,000 square foot convention center. Under the terms of the Harrah's sale agreement, Caesars will receive $1.14 billion in cash in return for Harrah's Las Vegas' real estate assets. Under the terms of the convention center agreement, Caesars will acquire 18.4 acres of ad...
PolyU Study Urges Hotels to Engage the Facebook Generation
November 30, 2017
Hotels should make greater use of social media to evaluate their performance from the customer's perspective, according to Dr Bona Kim (Ph.D. graduate) and Dr Sam Kim of the School of Hotel and Tourism Management (SHTM) at The Hong Kong Polytechnic University and a co-researcher in a recently published study. Having analysed hundreds of online hotel reviews, the researchers identified the hotel features that customers find most satisfying and dissatisfying. Their results provide helpful suggestions for how hotel managers can make effective use of social media to monitor and respond to customers' positive and negative experiences. With t...
The HVS Quarterly Hong Kong Update
Christy Tung | November 30, 2017
By Christy Tung and Daniel J Voellm The third quarter of 2017 recorded the highest number of mainland Chinese arrivals since the same period in 2015, which bodes well for Hong Kong tourism. Safety concerns towards other destinations in the region and fewer headline-making news about Hong Kong are the key contributors to the increase in visitor arrivals from mainland China. Thus, the tourism and the retail sectors in Hong Kong enjoyed a steady recovery after a slump in mainland arrivals in 2016. Hong Kong Visitor Arrivals The robust 2.2% growth to 42.6 million visitor arrivals in Hong Kong during the first nine months of 2017 is a strong...
Four Seasons and BRG Group Plan Four Seasons Hotel Hanoi at Hoan Kiem Lake in the Heart of Vietnam’s Capital City
Four Seasons | November 30, 2017
TORONTO, Nov. 30, 2017 -- Four Seasons Hotels and Resorts, the world's leading luxury hospitality company, and BRG Group, the leading private multi-sector business group in Vietnam, will open a new Four Seasons hotel in the heart of Vietnam's capital city. Located within the historic downtown, Four Seasons Hotel Hanoi at Hoan Kiem Lake will offer the latest in luxury hospitality in this important global city. Rich with history, art and culture, Hanoi attracts visitors from across the region and internationally, and is one of Vietnam's top leisure destinations. The new hotel will offer views of Hoan Kiem Lake and the bustling...
Hotel Innovators Educate Lawmakers on Capitol Hill, Urge Support for Stop Online Booking Scams Act
the American Hotel & Lodging Association | November 30, 2017
Hoteliers Promote Consumer Protection as Industry Continues to Innovate WASHINGTON, D.C. – November 30, 2017 – Innovation and e-commerce leaders from hotels across the country, led by the American Hotel & Lodging Association (AHLA), will convene on Capitol Hill today to educate lawmakers about innovation in the hotel and lodging industry and how to best protect consumers against online hotel booking scams. The hotel industry has been a leader in the evolving digital landscape for decades and were among the first to move products to the online space. Indeed, hotel businesses now make up 15 percent of all U.S. e-commerce, ...
Belmond Appoints Daniel Ruff as Senior Vice President, Head of Global Operations
Belmond Ltd. | November 30, 2017
HAMILTON, Bermuda--Belmond Ltd. (NYSE: BEL, Belmond.com ("Belmond" or the "Company") today announced the appointment of Daniel Ruff as Senior Vice President, Head of Global Operations. Ruff most recently served as President and Managing Director EMEA of Wyndham Hotel Group, where he oversaw the successful growth of the company's business across Europe, the Middle East, Africa, and India. "We are delighted to welcome Daniel, who has a proven track record in building global businesses and brings more than 15 years of professional experience to the role," said Roeland Vos, President and Chief Executive Officer. "Dan's significant operation...
The National Conference Center Brings Home Prestigious Stella Award, Leesburg, VA
The National Conference Center | November 30, 2017
"Best in Class" Conference Center Leesburg, Virginia, November 2017 … The National Conference Center has been awarded its seventh meeting and tourism award for 2017. Northstar Meetings Group, which is one of the leading publishers in meetings and events space, awarded The National Conference Center the 2017 Stella Award for "Best in Class" Conference Centers. The Stella Awards, honoring excellence in the meetings industry, recognize suppliers that consistently deliver quality service and innovation to meetings and events worldwide. The Stella Awards (Stella is a derivative of the Latin word "star") is a new, comprehensive program...
IHG in Partnership with JEJUair Plan 2018 Opening of 300-Room Holiday Inn Express Hotel in Seoul, South Korea
IHG | November 30, 2017
InterContinental Hotels Group (IHG®), one of the world's leading hotel companies, has announced it will open a new 300-room Holiday Inn Express hotel in Seoul, South Korea in 2018. The new-build Holiday Inn Express Seoul Hongdae, in partnership with the hotel's major investor JEJUair, will be part of Hongdae's largest mixed-use development, featuring a retail mall, extensive dining options and an office tower. Situated at the main junction of Hongdae just a short drive or subway ride from the Yeouido Business District and Gangnam Business District, the hotel will sit atop both the Hongdae subway station and the Airport Express rail ...
White Lodging, REI Real Estate Services and Poe Companies Plan Dual-Branded Autograph and Moxy Hotel in Downtown Louisville
Moxy Hotels | November 30, 2017
Two new, yet distinctly different hotels will open in 2019 in the historic and revitalized Whiskey Row neighborhood of downtown Louisville as part of a new development planned by a staple of the Louisville hospitality industry. Located on Main Street, the development will feature two Marriott International branded properties– Hotel Distil, a boutique hotel that will be part of Marriott's Autograph Collection Hotels, and a Moxy Hotel, the enterprise's spirited and fun design-driven brand with more than 15 hotels in North America, Europe and Asia. The project, developed by White Lodging, Poe Companies and REI Real Estate Services, i...
Banyan Investment Group Acquires Three Marriott-Branded Hotels in the Midwest for $30 Million
Banyan Investment Group | November 30, 2017
ATLANTA, November 30, 2017--Banyan Investment Group, an Inc. 5000 recognized hotel investment and management company that acquires and manages select-service hotels in the United States, today announced that it has acquired and will operate three Marriott-branded hotels in two separate transactions: the 105-room Fairfield Inn & Suites Chicago St. Charles and the 92-room Fairfield Inn & Suites Chicago Naperville, both in Ill., and the 129-room Lansing Courtyard by Marriott in Mich., for a combined total of nearly $30 million. The properties bring Banyan's portfolio to 14 owned and operated hotels nationwide. "We continue to have ...
Five Reasons Why Developers and Owners Love Hotel Leases
Peter Szabo | November 30, 2017
European Leased Hotel Cap Rates Reach Historic Low As Investor Pool Expands, Says HVS HWE Report By Peter Szabo, Analyst at HVS London Capitalisation rates for fixed income prime hotel investments such as lease contracts have reached sub 5%, according to a report from property experts HVS Hodges Ward Elliott. The number of investors buying into leased hotels has also trebled since 2009 as the asset class has become an increasingly attractive investment target for institutional investors. While the likes of Marriott, Hilton, IHG and Accor have moved away from lease contracts in the past, operators such as Deutsche Hospitality (formerly S...
Bob Bula Appointed General Manager of 304-Room Renaissance Dallas at Plano Legacy West Hotel
Renaissance Dallas at Plano Legacy West Hotel | November 30, 2017
PLANO – November 30, 2017 – Excitement and travel through the new Renaissance Dallas at Plano Legacy West Hotel is well underway after opening this summer. Guests at the luxurious new hotel defy conventional travel and prefer to blur the lines between business and pleasure. The new General Manager has been announced as Bob Bula. The 304-room, 15-story hotel is a brand new addition to the new Legacy West urban mixed-use development. Bob Bula joined the Marriott finance discipline shortly after graduating from Frostburg State University in Western Maryland. He held numerous assignments from assistant controller to director of ...
Mathew Pargament Joins the Me by Meliá Brand as General Manager of Me Miami
November 30, 2017
MIAMI, FL. (November 30, 2017) Meliá Hotels International (MHI), one of the world's largest hotel and resort chains, is pleased to announce the appointment of Mathew Pargament as General Manager of ME Miami, the brand's newest hotel property and first in the United States. Pargament joins the team with nearly two decades of hospitality and leading industry experience in some of the country's most notable hotels. With extensive knowledge in the South Florida market, where he has been working for nearly a decade, Pargament joins ME Miami after assuming the same role at The EDITION Hotel, Miami Beach, property he opened in November ...
