News Archive: July
Hospitality Financial Leadership – How to Review a Hotel Budget
David Lund | July 31, 2017
Budget season is fast approaching and I am writing this article to highlight some areas to look at when you are reviewing a hotel financial budget. Maybe you want to make sure you have all your ducks in a row before you submit your 2018 numbers to the corporate office or perhaps you are the one doing the review. This article will give you some ideas of what you need for your review, what to look for and where to find it. The only thing we know for sure about the budget is, it's wrong. ~ Unknown Budgeting is first and foremost a business plan with numbers. It is the culmination of all the wants, wishes, aspirations and ideas laid out in ...
Social Media Marketing in the Hotel Industry: Trends and Opportunities in 2017
Jimmy Quach | July 25, 2017
By Jimmy Quach As social media platforms gain traction in usage rates and become ubiquitous in day-to-day life through the proliferation of mobile devices, they are proving to be valuable marketing channels, especially when targeting younger consumers. Although several prominent hotel brands have begun to scratch the surface of utilizing these social media channels for marketing and bookings, the state of this practice in North America is in its infancy. Other technology giants around the world have already capitalized on this opportunity with their social-media, mobile-adept user base. Nonetheless, the mass adoption of digital payment ...
Manage Housekeeping Inventory with a New System from Clear Sky Software
Clear Sky Software | July 24, 2017
CHARLOTTE, North Carolina – July 25, 2017 – Clear Sky Software, Inc. ® announced today the release of Clear Sky HOUSEKEEPING for the hospitality industry. This new software allows hotels and clubs to track and control their linens, supplies, uniforms and other housekeeping products. Clear Sky HOUSEKEEPING is offered as a complement to the company's proven Food and Beverage inventory software and is available immediately for organizations desiring better inventory control of these items. Clear Sky HOUSEKEEPING supports more efficient ordering and receiving of housekeeping products and an easier transfer of these products ...
Mast Capital and Angelo, Gordon, & Co. Purchase Conrad Miami for $72 Million with Renovation Planned
Mast Capital | July 14, 2017
Mast Capital, a Miami-based investment and development firm, and Angelo, Gordon & Co. have completed the purchase of Conrad Miami from Holborn LC for $72M. This was a transaction facilitated by Christian Charre, Paul Weimer and Natalie Castillo of CBRE Hotels. The hotel is a flagship, trophy asset situated within the iconic Brickell Arch Tower and occupies an entire block within Miami's vibrant Financial District. The tower contains 267,000 rentable square feet of Class A office, 203 hotel keys, and 116 luxury residential units. The interest purchased includes 203 hotel keys, a rooftop amenity deck, and a rental program, which curre...
Owned and Managed by Stonebridge Companies, Courtyard by Marriott Opens in Pullman, Washington
Courtyard by Marriott | July 19, 2017
Pullman, WA – July 19, 2017 – Courtyard by Marriott Pullman is scheduled to open its doors in Pullman, Washington on Tuesday, July 25, 2017. 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 1295 NE North Fairway Road, on the campus of Washington State University, the 122-room hotel will operate as a Marriott franchise, owned and managed by Stonebridge Companies. Whether traveling for business or pleasure, guests of the Courtyard Pullman will have convenient ac...
A Look at the Future of the Boutique Hotel Industry: BLLA’s 2017 Sentiment Survey Results Revealed
Frances Kiradjian | July 7, 2017
By Frances Kiradjian A little insight is a valuable thing in the hospitality industry, and the value of comparing notes and getting an overview on the industry in general and broader trends is huge. These kinds of insights are also one of the reasons BLLA is such a useful organization to be part of for the Boutique & Lifestyle sector. And nowhere is this clearer than in our annual Sentiment Survey, an essential overview of the state of this thriving area of the hospitality industry. We reached out to you, our ever-expanding network of more than 1,000 of the finest Boutique & Lifestyle hoteliers, to find out the truth about the s...
Revenue Metrics Are Evolving: Average Room Rate Becomes Two for One
Dr. Gabor Forgacs | July 26, 2017
By Dr. Gabor Forgacs The previous methods of ADR (Average Daily Rate) calculations are not good enough any longer. In the fast-paced world of the hotel industry the ecosystem of distribution channels and methods is evolving fairly rapidly and we need to reflect that in our ADR calculations. We need to separately calculate an external ADR from guest-paid room rates and an internal ADR from hotel-collected net room rates in order to come to terms with some fundamental measurement challenges. Hotels compete hard and their performance for cost efficient sales and room rate maximization is under the microscope. Today as a result of successfu...
Affiliates of KSL Capital Partners and Henry Crown and Company Complete Transactions to Combine Three Major Resort Companies
Squaw Valley Ski Holdings | July 31, 2017
DENVER--July 31, 2017--The new joint venture formed by affiliates of KSL Capital Partners, LLC ("KSL") and Henry Crown and Company ("HCC") today announced the completion of their previously announced acquisition of Intrawest Resorts Holdings, Inc. (NYSE: SNOW) ("Intrawest") and Mammoth Resorts. Through these transactions, Squaw Valley Ski Holdings ("SVSH"), previously owned by affiliates of KSL, Intrawest and Mammoth Resorts are now combined as one company. This new entity boasts 12 four-season mountain resorts with approximately six million skier visits, 20,000 skiable acres and significant land available for real estate development, a...
