News Archive: February
SH Group and Barry Sternlicht, 1 Hotels Founder and Starwood Capital Chairman / CEO, Introduce 1 Hotel Brooklyn Bridge, New York
1 Hotels | February 16, 2017
BROOKLYN, NEW YORK (February 16, 2017) – 1 Hotels, the mission-driven luxury lifestyle hotel brand, today opens the doors of its third property and first ground-up development, 1 Hotel Brooklyn Bridge. Remaining true to 1 Hotels founder, Barry Sternlicht, core philosophy, "The world around us is beautiful, and we want to keep it that way." The property cultivates the best of eco-conscious design, sustainable architecture, cause-oriented partnerships, and unrivaled service. Situated at Pier 1, just south of the iconic Brooklyn Bridge, in Brooklyn Bridge Park with sweeping waterfront views of the Manhattan skyline and the ...
Hilton Worldwide Reports a Q4 2016 Loss of $382 Million; Net Income for Full Year was $364 Million
Hilton Worldwide | February 15, 2017
MCLEAN, Va. - Hilton Worldwide Holdings Inc. ("Hilton," or the "Company") (NYSE: HLT) today reported its fourth quarter and full year 2016 results. The Company completed the spin-off of Park Hotels & Resorts Inc. ("Park") and Hilton Grand Vacations Inc. ("HGV") (the "spin-offs") in January 2017. All results herein present the performance of Hilton without giving effect to the spin-offs, unless otherwise specified. Additionally, all share and share-related information presented herein have been retroactively adjusted to reflect the 1-for-3 reverse stock split of Hilton's outstandi...
Existing Hotel vs New Construction Hotel – Which is the Better Investment?
February 23, 2017
Hospitality entrepreneurs usually enter a dilemma when it is time to expand their portfolio of assets, particularly hotels. They are confused whether to invest in a newly constructed hotel or to invest into the renovation of an existing one; investments should be made after measuring the pros and cons of each situation. Sometimes looking at the bigger picture is more relevant than the current performance of an existing asset, so it's better to evaluate each option thoroughly. There are two types of investments available for hotel entrepreneurs; either investing in an existing hotel or laying down the groundwork for a newly constructed o...
Puerto Rico’s Landmark El San Juan Hotel Reopens Following $60 Million Renovation; Joins Curio – A Collection by Hilton
IMPRINT Hospitality | February 7, 2017
SAN JUAN, Puerto Rico and MCLEAN, Va. - El San Juan Hotel, a landmark luxury, lifestyle and entertainment property in Puerto Rico, has joined Curio - A Collection by Hilton. As Hilton's (NYSE: HLT) rapidly-expanding global collection of distinctive upper upscale hotels, Curio caters to passionate travelers seeking local discovery and authentic experiences. Asset managed by LEÓN, MAYER & Co., who is also a co-owner of the hotel, and co-managed by IMPRINT Hospitality and Aimbridge Hospitality, the 388 guest room hotel marks the first property in Puerto Rico for Curio - A Collection by Hilton. "With the reopening today ...
Another Hit for the On-Line Travel Agents
David Lund | February 1, 2017
By David Lund The on-line travel agency world started exactly 20 years ago when Expedia was born inside Microsoft. Expedia with a valuation of over 10 billion at its spin-off was the most successful business born inside the software giant. OTA's add a valuable way for the hotel to reach customers that they just don't have the ability to by themselves. However, of late the costs that hotels are seeing on their P&L's has their managers and owners pulling their hair and scrabbling to find a way out, and a way to reduce these margin-eating commissions. What has made the on-line travel agency so popular is twofold. One, the hotels and th...
AccorHotels Reports Strong Earnings Growth in 2016; Outlines New Platform on AccorInvest
AccorHotels | February 22, 2017
Revenue up 0.9% to €5,631 million (+2.2% LFL) EBIT up 4.6% to €696 million (+3.8% LFL) Net profit up 8.1% to €266 million Sébastien Bazin, Chairman and Chief Executive Officer of AccorHotels, said: AccorHotels has posted an excellent performance for 2016 in a challenging environment, in particular with record levels of EBIT and numbers of hotel rooms opened. Thanks to the efforts made by our teams around the world, we have implemented strong operational levers, which enabled growth in earnings to outpace that in revenue. We have ventured out to conquer new markets and offer new services thereby consolidating our ...
Daniel Donahue Appointed President of Saunders Hotel Group
Saunders Hotel Group | February 15, 2017
Boston, MA: The Saunders Hotel Group is pleased to announce the appointment of Daniel G. Donahue as President, where he will be responsible for all areas of management, operations and marketing for all Saunders Hotel Group's properties. With more than 25 years of experience, Donahue most recently served as V.P. and General Manager, Lenox Hotel. "Dan has been an exceptionally strong leader and member of our team for a number of years," said Jeffery Saunders,CEO of Saunders Hotel Group. "We are a family owned and operated business and our mission is rooted in our people and our community. Dan has always exemplified those ideals and inspir...
Travel +Leisure It List 2017: The Best New Hotels in the World
Travel + Leisure | February 15, 2017
by Travel + Leisure Staff At the end of every year, we at Travel + Leisure are busy taking stock of the past 12 months and putting together the It List, our annual collection of the best new hotels around the globe. This year, the competition was fiercer than ever. The 44 hotels and resorts ahead are making waves for different reasons—some for killer design, others for culinary bona fides or an unbeatable location—but all are inspiring the rest of the hospitality world to take note. The 2017 It List covers 31 countries and six continents. It took us to dizzying new heights (the Anantara Al Jabal Al Akhdar in Oman sits on a c...
