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Hospitality Financial and Technology Professionals | June 25, 2024
Industry Happenings
Summit Hotel Properties Completes $164 Million, 4-Hotel Portfolio Acquisition
Summit Hotel Properties | November 28, 2017
AUSTIN, Texas, Nov. 28, 2017 -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company") today announced that it has completed the acquisition of four hotels with a combined total of 652 guestrooms for an aggregate purchase price of $164 million, or approximately $252,000 per key. The portfolio includes the 207-guestroom Courtyard New Haven at Yale, the 148-guestroom Hilton Garden Inn Boston/Waltham, the 175-guestroom Residence Inn Cleveland Downtown, and the 122-guestroom Homewood Suites by Hilton Tucson/St. Philip's Plaza University. The agreements to acquire the portfolio were previously announced on November 13, 2017....
PwC’s Manahattan Lodging Index Q3 2017
Manhattan Lodging Index | November 28, 2017
Continuing declines in room rates outweighed improving occupancy levels in Manhattan hotels during the third quarter, extending a pattern established last year. Although supply growth appears to have finally peaked, Q3 marks the tenth quarter of declining RevPAR since the beginning of 2015. Although supply growth may no longer be the top threat to the Manhattan lodging market, several other factors, including perceived political uncertainty and international travel restrictions, as well as a profound shift in demand segmentation, remain real concerns. Despite these, demand growth during the quarter of 3.4 percent outpaced an increase in...
Sonnenblick-Eichner Company Arranges $35,000,000 of First Mortgage Financing for The Inn at the Market, Seattle, Washington
Sonnenblick-Eichner Company | November 28, 2017
Beverly Hills, California – November 28, 2017 – Sonnenblick-Eichner Company has arranged $35,000,000 of first mortgage financing for the iconic 76-room luxury boutique Inn at the Market hotel in Seattle, Washington. The hotel is located at the world-famous Pike Place Market, the most popular and recognizable destination in downtown Seattle. The hotel is currently ranked #1 of 100 hotels on TripAdvisor in Seattle. The financing, provided by a Wall Street investment bank, was a non-recourse, 10-year fixed rate loan with 5 years of interest-only payments. The Inn at the Market has historically been a rate leader in the downtown...
Clear Sky Software’s Beverage Inventory System Saving Time at the W Hotel in Bellevue Washington
Clear Sky Software | November 28, 2017
CHARLOTTE, North Carolina – November 28, 2017 – Clear Sky Software, Inc. ® announced today that The W Hotel in Bellevue, Washington has implemented the company's beverage inventory control system to help manage and control all beverage products. This busy hotel is taking advantage of the features of this industry-leading beverage inventory system. Called Clear Sky BEVERAGE, this is a comprehensive, perpetual inventory system that tracks and controls all beverage products. Functions include purchasing/ordering, receiving, electronic requisition, outlet transfers/issues/returns and physical inventory. All of these software...
Kevin Nicholls Named Executive Chef of The Fontaine
The Fontaine | November 28, 2017
KANSAS CITY, MO – As part of its rebranding and redesign, The Fontaine announces the strategic appointment of Kevin Nicholls to executive chef. Kansas City born and raised, and with an impressive international pedigree having worked in the kitchen at the five-star Jumeirah Beach Hotel, Chef Nicholls brings a worldly perspective to The Fontaine's culinary program along with his unmatched passion and enthusiasm for food with local soul. In his new role, Chef Nicholls is responsible for overseeing all aspects of the food & beverage program at the 132-room boutique hotel in addition to launching Parker, The Fontaine's new rooftop ...
The Fontaine Appoints Richard Graham as General Manager
The Fontaine | November 28, 2017
KANSAS CITY, MO (November 27, 2017) – Ahead of the December 2017 unveiling of its design renovation, The Fontaine announces Richard Graham as general manager to oversee the 132-key boutique hotel located in the heart of Kansas City's landmark Country Club Plaza District. An established leader with deep roots in the Kansas City hospitality scene, Graham brings more than a decade of boutique hotel experience to his role as general manager of The Fontaine. Graham is responsible for overseeing The Fontaine's day-to-day operations as the hotel flows into its next chapter, in addition to ensuring the delivery of the refreshing, renewing...
What a Popular Weather Chatbot Can Teach the Hospitality Industry About Guest Messaging
ALICE | November 27, 2017
At first blush, the pairing of Poncho (a cheeky chatbot that tells you the weather, with no obvious ties to the hospitality industry) and ALICE (a hospitality messaging product that doesn't use chatbots) seems an unconventional choice to host a conversation at HX about chatbots and guest conversational interfaces. But, as a lively discussion between the panelists and audience made clear, there's a lot hospitality can learn from the popular consumer product Poncho, and a lot more to messaging - especially in this industry - than chatbots. Here are a couple of takeaways from ALICE co-founder Alex Shashou's HX panel on Monday: 1. Attitude ...
Sharpe Contractors Awarded Design/Build Contract for Staybridge Suites Hotel
Sharpe Contractors | November 27, 2017
Suwanee, GA, November 27, 2017 Duluth Capital Investments has selected Sharpe Contractors (http://sharpegc.com/) to design and build their new Staybridge Suites Hotel at 2360 Stephens Center Drive in the Atlanta suburb of Duluth, Georgia. The 74,849 square foot, 5-story property will feature 118 guest suites, meeting space, fitness center and pool and will target corporate travelers looking for an extended stay option. Kennesaw, Georgia based R Design Works will team with Sharpe to handle architectural design with Foresite Group, of Peachtree Corners, overseeing civil engineering. "We are thrilled to be teaming with Sonial Patel and his...
Iconic Royal Palms Resort and Spa in Phoenix Unveils Multimillion Dollar Renovation
Royal Palms Resort and Spa | November 27, 2017
PHOENIX (Nov. 27, 2017) – Steeped in nearly 100 years of history, romance and elegance, Royal Palms Resort and Spa in Phoenix has been meticulously restored and revived after the conclusion of a $3.7 million renovation of the Mediterranean-style hideaway. The resort is part of The Unbound Collection by Hyatt brand. The renovation touched all 119 guest rooms including the Presidential Suite; the Mother-of-Pearl swimming pool and lounge area; various event lawns; as well as landscaping and upkeep of close to 200 towering palms accenting the nine acres. "It is with great honor and pride that we share the refreshed accommodations, sop...
Majority of U.S. Winter Vacationers Undeterred by Recent Natural Disasters
Eric Mower + Associates | November 27, 2017
Survey shows two-thirds of U.S. travelers who take an annual winter vacation to an impacted destination will return this year, with 40 percent bringing extra food and supplies to donate NEW YORK – Nov. 27, 2017 – A new survey by independent marketing communications agency Eric Mower + Associates asked 754 U.S. adults if recent natural disasters – from Hurricanes Harvey, Irma and Maria to the California wildfires – had affected their winter vacation plans. The results reveal some bright spots in the forecast: not only do many plan to return to impacted destinations this winter but many say they will help with rec...
2018 Digital Marketing Plan & Budget Guide for Hotels
Cendyn | November 27, 2017
Insights for hoteliers One of the most important services we provide for hotels at Cendyn is preparing a yearly digital marketing plan and budget. The whole process includes a significant amount of data, analytics, and research. In this guide, we offer insight on the most important factors to consider when creating your annual plan, including: Historic reporting Expected changes and their potential impacts Goals for the next year What's working & what's new Best bets for the largest impact Download Now ...
Amadeus and HRS Join Forces to Help Companies Organize Small Meetings
Amadeus | November 27, 2017
The Integration of HRS' meetago Solution with Amadeus cytric Travel & Expense Helps Corporations Better Manage Their Hotel Program COLOGNE, Germany & MADRID--November 27, 2017--Arranging an event requires high doses of organization and patience. Corporations tend to leave the larger conferences to the professionals, but for the smaller meetings and events, employees often have to double as event planners. To help make organizing a meeting easier, Amadeus and HRS Global Hotel Solutions (HRS) announce the integration of HRS' meetago small meeting solution with Amadeus cytric Travel & Expense. This agreement is an extension of ...
HVS Key Takeaways: CHICOS 2017
Kristina M. D'Amico | November 27, 2017
By Kristina M. D'Amico and Kristin Rinaudo With U.S. and global attention focused on the Caribbean region following two record-breaking hurricanes that hurled through the region in September, the timing of CHICOS less than two months later opened the door to educated conversations within our industry. Interestingly, the dialog was hardly identifiable with the sensationalist news headlines and misrepresentations in the media that the Caribbean is somehow pulverized, as the 2017 Atlantic hurricane season winds down. Rather, attendees agreed that there is a need to educate the public on the geography of the region, and conversations de...
Trump Organization Bought Out of Manhattan’s Trump SoHo Hotel
Trump Hotels | November 27, 2017
NEW YORK--November 27, 2017--Trump International Hotels Management and the Board of the Trump SoHo Condominium New York announced today the buyout of the remaining term of the management and license agreement of the Trump SoHo Hotel located at 246 Spring Street in Manhattan. The transition is anticipated to take place by year-end. "The hotel has achieved high ratings and earned many accolades including the prestigious AAA Five-Diamond award for five consecutive years under the management of the Trump Organization and the impressive efforts of the hotel's employees," said Gil Keinan, Vice President of the Board. "Under the seasoned manag...
AHLA and the Better Business Bureau Team Up to Fight Online Hotel Booking Scams
AHLA | November 27, 2017
Uniquely Positioned Partnership Equips Consumers with Tools to "Search Smarter"; Bad Bookings Impact 55 Million Travelers Washington, D.C. – November 27, 2017 – The American Hotel & Lodging Association (AHLA) today announced a new partnership with the Better Business Bureau (BBB) to educate and protect consumers against online hotel booking scams, which have increasingly become more prevalent and are affecting millions of consumers who book hotels online. Last year alone, 55 million bookings were made through websites travelers thought were the actual hotel's website only to find out later they were a rogue third-party o...
Hyatt Regency Washington on Capitol Hill announces the Appointment of a Senior Sales Manager
Hyatt Regency Washington on Capitol Hill | November 27, 2017
WASHINGTON, D.C. (November 17, 2017) – Hyatt Regency Washington on Capitol Hill proudly announces the appointment of Michael Hurley as senior sales manager for the 838-room hotel located at 400 New Jersey Avenue NW, Washington, D.C. Hurley returns to Hyatt after expanding his career on the U.S. West Coast. He brings more than 14 years of hospitality experience in sourcing and securing sales opportunities to ensure success of several hotels across the country. Hurley joins Hyatt Regency Washington on Capitol Hill from Los Angeles, Calif., where he served as a senior sales manager overseeing group sales for two luxury hotels since D...
HVMG Converts Former Hilton Suites Phoenix to Embassy Suites by Hilton Phoenix Downtown North
HVMG | November 27, 2017
PHOENIX/ATLANTA (November 27, 2017) – Hospitality Ventures Management Group (HVMG), an Atlanta-based, private hotel investment, ownership and management company, today announced the completed conversion of the former Hilton Phoenix Suites to the 242-suite Embassy Suites by Hilton Phoenix Downtown North. HVMG, which purchased the hotel in 2016 as part of a joint venture, will continue to operate the property. "Our familiarity with the market and hotel provided us the insight to realize both the property and our guests would benefit from a full reimagining," said Robert Cole, HVMG president and CEO. "With properties in California, C...
IHG Partners with SAMHI to Expand Holiday Inn Express Portfolio in India
IHG | November 27, 2017
Bangalore, India, 27 November 2017: IHG® (InterContinental Hotels Group), one of the world's leading hotel companies, has partnered with SAMHI to rebrand approximately 2000 rooms (operating and under construction) within its India hotel portfolio, to Holiday Inn Express® hotels. The recently signed portfolio comprises 14 hotels, including ten open hotels across key cities such as Ahmedabad, Bengaluru, Chennai, Delhi NCR, Hyderabad, Kolkata, and Mumbai. The additional four hotels are under construction. The signing sees IHG grow its pipeline by 41 hotels, positioning IHG as one of the largest players in India's growing midscale h...
Starwood Capital Group Acquires Sofitel Budapest Chain Bridge Hotel from Orbis Hotel Group for €75 Million ($89.5M)
Starwood Capital Group | November 27, 2017
MIAMI and BUDAPEST, Hungary, Nov. 27, 2017 -- Starwood Capital Group, a leading global private investment firm, announced today that it has entered, through a controlled affiliate, into the sale and management back transaction to acquire the Sofitel Budapest Chain Bridge Hotel from Orbis Hotel Group, the leading hotel operator in Eastern Europe. Sofitel Budapest is a landmark hotel with 357 rooms located at an iconic address in the heart of the city. The hotel enjoys spectacular views of the famous Chain Bridge, historical monuments and the Danube River. The hotel is being acquired for €75 million, subject to the approval of the Eu...
A Branding Agency That Didn’t Do Its Own Branding? Huh?
Lure Agency | November 22, 2017
3 reasons (and a 4th) why we didn't do our own branding, and why you shouldn't either. It's one of the most daunting exercises any company can go through– creating a new website presence. And, as exciting as it was for us to shelve the old version of who we were and what we did because we had grown way past it, starting the process anew was a big, highly visible job added to an already busy list. Now, keep in mind that, unlike most companies, we already had all of the resources at-hand to be able to do the deal, soup-to-nuts: Branding, writing, design, front end, and back end development. A Hospitality Branding Agency True Story I...
Hyatt Regency Maui Appoints Klara Crocco as New Director of Marketing and Communications
November 22, 2017
LAHAINA, Hawaii (November 22, 2017) – Hyatt Regency Maui Resort and Spa announces the appointment of Klara Crocco as its new director of marketing and communications. Crocco brings robust experience in public relations and marketing following tenures in both the hospitality and consumer product industries. Prior to joining Hyatt Regency Maui Resort and Spa, Crocco most recently served as the complex director of public relations at The Westin Ka'anapali Ocean Resort Villas and The Westin Nanea Ocean Villas in Lahaina, Hawaii. "I'm thrilled to join the team at Hyatt Regency Maui Resort and Spa," says Klara Crocco, the resort's direc...
5 Ways AI Is Transforming Hotel Marketing
Cendyn | November 22, 2017
Artificial intelligence is enabling the hotel industry to do incredible things. From creating hyper personalized guest experiences to identifying unrecognized revenue opportunities, AI empowers innovation and growth by distilling information and deducing patterns into actionable insights. At Cendyn, we help hotels apply this technology to the far corners of their organizations. With an AI foundation, hotel marketers can make better decisions, faster, even automatically, for the betterment of guests and the business. As such, here are seven ways we're seeing AI transform hotel marketing: Data-driven marketing Data has shifted the founda...
IHG ANA Hotels Group Japan, a Joint Venture, Enters Agreement to Launch New Hotel Indigo® Hakone Gora in Japan
IHG | November 22, 2017
As the number of visitors to Japan continues to grow, there is a segment of travellers who are looking for something different – a property to satisfy their senses of curiosity and creativity that delivers a memorable experience of a destination. Looking to meet this need, IHGA Hotels Group Japan, the joint venture between InterContinental Hotels Group (IHG®) and ANA, signed an agreement with GHS K.K. and Daiwa House Industry Co., Ltd. to launch IHG's popular boutique brand Hotel Indigo® in Japan. The first property Hotel Indigo® Hakone Gora is scheduled to open in 2019, and will be a place where guests and locals alik...
MBC Partners Break Ground on New Build 153-Room WaterWalk Hybrid Hotel and Apartment Concept in Richardson, Texas
MBC Partners | November 22, 2017
WICHITA, Kan.--WaterWalk, Jack DeBoer's fifth national brand, announced today the groundbreaking of its third property at 2210 North Glenville Drive in Richardson, Texas. This is the second WaterWalk franchise property sponsored by MBC Partners who opened their first WaterWalk franchise property in Centennial, Colorado in September of this year. The planned two-building, four-story, 153-room hybrid hotel and apartment concept has a projected opening date of November 2018. Law Company of Wichita, Kansas is serving as general contractor and Woolpert of Dallas, Texas is serving as architect and civil engineer. WaterWalk was created by entr...
