News Top: December
Ravages of War: Lonely Trio Struggle to Keep 140 Year-Old Hotel Palmyra in Baalbek, Lebanon Alive
December 4, 2013
Dec. 04--BAALBEK, Lebanon -- Located directly across the street from the ruins at Baalbek, the Hotel Palmyra owes its existence and success to the site's ability to attract tourists. A list of its foreign visitors would include French Gen. Charles de Gaulle, German Kaiser Wilhelm II and Albert Einstein. Lebanese icons, such as Fairuz and Sabah, were known to frequent the renowned hotel in the '60s during the popular Baalbeck Festival. "It was the best hotel in Baalbek at the time," Ghassan Karaa, the current manager of the Palmyra, says from his spacious office off the grand entrance hall, with a desk that features the building's sole p...
Four New Hotels Totaling Over 300 Rooms are in the Works for Oxford, Mississippi
December 28, 2013
Dec. 28--OXFORD -- In a city with just seven existing hotels, Oxford has four additional hotels in various stages, from early planning to almost closed-in. The nearest to completion is the TownePlace Suites by Marriott, a 95-room extended-stay hotel on Ed Perry Boulevard, across from the Oxford Conference Center and adjacent to the Hampton Inn East. "We're on schedule. We have an excellent general contractor on the team, and it's coming along," said Chan Patel, whose family owns several hotels in Oxford. TownePlace Suites will be marketed as an extended-stay hotel. Currently workers are building the top story of masonry-block walls and ...
Dell Inc. Plans to Build 96-room La Quinta Inn & Suites in Duluth, Minnesota
December 11, 2013
Dec. 11--Plans were revealed Tuesday for another hotel in Duluth's Miller Hill Mall area while plans progressed for two Kwik Trip stores in western Duluth. Dell Inc. of Fargo, N.D., plans to build a three-story, 96-room La Quinta Inn & Suites hotel at 1805 Maple Grove Road, just north of Miller Trunk Highway next to the Floor to Ceiling store and across from the Vein Clinic. Dell Inc. also owns La Quinta Inns in Fargo and Bismarck, N.D. A plan review for the hotel -- required because of the scope of the project -- went before the Duluth Planning Commission on Tuesday. Commissioners tabled the matter for one week to learn more about ...
Daewoo-led Korean Consortium to Launch $220 Million Project Developing Two Hotels in Yangon, Myanmar
December 3, 2013
Dec. 03--SEOUL (The Korea Herald/ANN) -- A Korean consortium led by Daewoo International will launch a project to develop luxury hotel infrastructure in Yangon, Myanmar, the company said Monday. The POSCO trading arm and three other Korean companies are to build a 14-floor luxury hotel and a 29-floor serviced residence building on a 2,183-square-metre site near Inya Lake, one of the most popular recreational areas in Yangon. "The $220 million project will kick off soon as three other companies have reached an agreement for their roles in the project and scale of investment," a company official said. The three other players to join the p...
Why Sales & Operations Will Never Get Along
Steve DiGioia | December 28, 2013
By Steve DiGioia In the world of business there are many components that make up a successful venture. All must work as a team with the one vision in mind, which is the health and prosperity of the company. But business is also a daily battle. The procurement/purchasing department is obliviously involved in getting the necessary goods in house that are needed to manufacture a product. But they are bound with the task of not getting more than is needed or have available capital tied up in inventory. That makes sense. But what if they are tightening their belt a little too much and under-order based on business needs? This will of course ...
Hotel Construction is Booming in Vancouver, Washington; Three New Hotels to Bring Nearly 300 Rooms
December 19, 2013
Dec. 19--Hotel construction is once again booming in Vancouver, with projects such as a Hampton Inn and Suites at the former Evergreen Airport under way in a local market that is just now returning to pre-recession occupancy rates. The 99-room Hampton is one of three east Vancouver projects expected to bring nearly 300 new rooms to the area within the next two years. Two other hotel proposals -- a 115-room TownePlace Suites by Marriott and an 83-room Candlewood Suites -- have been hailed as good signs of economic growth with the potential to create hundreds of construction jobs. However, plans for the three hotels to come online all at ...
Naples’ Edgewater Beach Hotel, a Former Waldorf Astoria, Managed by Ocean Properties Sells for $55M
December 24, 2013
Dec. 24--NAPLES -- The Edgewater Beach Hotel in Naples has sold for $55 million. Public records show Panthers RPN LLC, whose address is care of Blackstone Real Estate Associates in New York, sold the hotel Nov. 26 to Naples Edgewater LLC, based in Delray Beach. The registered agent of Naples Edgewater is Richard H. Critchfield of Delray Beach. None of the four managers of the company is based in Naples, state records show. A beachfront fixture since 1984, the hotel has 125 one- and two-bedroom suites and two pools. It last sold for $38 million in 1998. Formerly part of Hilton Worldwide's Waldorf Astoria brand, the hotel is now part of t...
Developer Nathan Kirby to Convert 100-year-old High Rise in Gastonia, NC to Upscale Hotel
December 23, 2013
Dec. 23--GASTONIA -- The narrow six-story bank building went up in downtown Gastonia nearly 100 years ago -- the city's first high rise and a symbol of its textile prosperity. Construction took four years and only the finest materials were used, including marble, Honduran mahogany and African ebony. Faces of the Greek god Dionysus decorated outside walls of the neo-classical structure. When the First National Bank went bust in the Great Depression, the 23,500-square-foot building at 168 W. Main Ave. turned into office space, primarily for lawyers. Since the 1980s it has stood empty, a symbol of downtown Gastonia's struggling economy. Bu...
Irvine, CA’s Hyatt Regency Irvine Rebranded as Hotel Irvine Jamboree Center
December 5, 2013
Dec. 05--The Irvine Co., which has owned the Hyatt Regency Irvine since 1986, now also manages the 536-room hotel as the rebranded Hotel Irvine Jamboree Center. The thinking behind the name change is that, in the age of online searching, a basic name can be just as good as a well-known brand. "We could all spend a lot of time with cute, creative names," said Ralph Grippo, president of the Irvine Co.'s resort properties. But search engines are king, so the company hopes that when individuals search for "hotels in Irvine," it will quickly rise to the top. The hotel is already busy, so the company's priority isn't necessarily to boost over...
Scott Griffith Stepping Down as InTown Suites President, CEO; Dennis Cassel to Take Over
December 20, 2013
Dec. 20--Atlanta-based InTown Suites announced Friday that President and Chief Executive Officer Scott Griffith is stepping down, and Chief Financial Officer Dennis Cassel will take over as president on Jan. 1. Griffith has been president and CEO of the extended stay hotel chain for nearly 10 years. Cassel has been with the company for nearly nine years. The company, which has more than 1,100 employees, was acquired by the private investment firm Starwood Capital Group in June. The extended stay hotel's rooms are set up like efficiency apartments for weekly accommodations. The chain, founded in 1989, has grown to 138 locations in 21 sta...
2013 Construction Report North America; 23 Hotel Waterpark Projects Open in 2013
Jeff Coy | December 4, 2013
By Jeff Coy, ISHC December 6, 2013 --- Twenty-three (23) waterpark resort projects opened in the USA during 2013, a 8.0% increase over last year. This compares with 20 in 2012, 27 in 2011 and the record high of 40 in 2007. Thirteen (13) projects were brand names such as Hyatt, Marriott, Great Wolf, Wet 'n Wild, Carnival Cruise and Norwegian Cruise Lines, and 10 projects were independent owner projects. Fourteen (14) projects were new openings, and 9 were expansions of existing properties. While money is just beginning to loosen up for hotel developers, new hotel construction is still rather flat, but resort acquisitions and expansions a...
Shivam Hospitality Group, Developer of Planned Holiday Inn Express in Decatur, AL, Eyes 2nd Hotel
December 5, 2013
Dec. 05--The developer of a planned 83-room Holiday Inn Express on Beltline Road Southwest at Old Moulton Road said Wednesday he might build a second hotel near the same location if the first one performs well. Dinesh Patel, a partner in Tennessee-based Shivam Hospitality Group, said a $95,000 incentive approved by the Decatur City Council after a contentious debate Tuesday was not critical to his location in Decatur, but it was important. The council approved the incentive with three affirmative votes. Charles Kirby voted against it and Billy Jackson abstained. "It depends on the performance of the Holiday Inn Express, what kind of occ...
Ames Hotel Management Plans to Develop Hotel on Newly Acquired Land in Ames, Iowa
December 31, 2013
Dec. 31--A central Iowa developer has plans to build a new hotel in southeast Ames. In October, Ames Hotel Management Inc., of Ankeny, bought two plats of agricultural land from South Dayton Development LC of Ames, a Haverkamp Properties company, for a total of about $500,000. The land, at 1421 and 1523 S. Dayton Place, is located near several existing hotels, including a Hampton Inn and Super 8, and the El Azteca Mexican restaurant. Dennis Patel, Ames Hotel Management's owner, confirmed the company planned to redevelop the land as a hotel site. Further details, he said, were "still under consideration," and more information would be av...
Iconic Eastland in Portland, ME Completes $50 M Renovation; to Reopen as Westin Portland Harborview
December 12, 2013
Dec. 12--Portland's historic Eastland Hotel turned away former first lady Eleanor Roosevelt in 1946 because she wanted her dog, Fala, to stay in her room. Now, with a $50 million renovation, new owners and a new name -- the Westin Portland Harborview Hotel -- any guest's dog will be welcome in a hotel that marries tradition with modern service and style. "It highlights the revitalization of a historic property with the coupling of modern, upscale amenities," said Carolann Ouellette, director of the Maine Office of Tourism. "It's an important renovation, and the mix of old and new really helps make it a destination property." Although it...
Four Seasons Hotels and Resorts CEO, Kathleen Taylor, to Step Down
Four Seasons Hotels and Resorts | December 30, 2013
TORONTO-February 5, 2013--Four Seasons Hotels and Resorts today announced that Kathleen Taylor will be leaving her role as Chief Executive Officer. "I am deeply grateful to Katie for her nearly 25 years of outstanding service and wish her well in the next phase of her career" The privately held Company, with the backing of its long-term shareholders Kingdom Holding Company, Cascade Investment and Triples Holdings, is focused on building on Four Seasons leadership position by accelerating execution of its existing strategy to drive global growth and expansion of its iconic brand. Ms. Taylor assumed the role of Chief Executive Officer fro...
ICD Acquires Palm Jumeirah’s 1539-room Atlantis Hotel from Istithmar World, a Unit of Dubai World
December 6, 2013
Dec. 06--Investment Corporation of Dubai, or ICD, Dubai government's investment arm, said on Thursday that it had acquired Atlantis Hotel from Istithmar World, a unit of Dubai World. "Our acquisition of an asset that is a major contributor to the domestic tourist industry is in line with our overall strategy to support long term, sustainable growth for Dubai," Khalifa Al Daboos, deputy chief executive officer of ICD, said in the statement. ICD, the flagship holding firm of some of Dubai's high-profile companies, did not disclose the value of acquisition of the 1539-room iconic hotel, which sits at the head of Palm Jumeirah. The hotel wa...
Developer Ed Bushor and Artist Wyland Acquire HI’s Bankrupt Naniloa Volcanoes Hotel for $7 Million
December 19, 2013
Dec. 19--The Naniloa Volcanoes Hotel has a new owner and a new future as a marine art-themed vacation resort in Hilo. A company led by real estate developer Ed Bushor completed the purchase of the oceanfront hotel Tuesday. Work to revitalize the struggling property began quickly, with new landscaping planted in front of the hotel Tuesday and a 20-foot Christmas tree set up Wednesday. "It's looking like an operating hotel actually, instead of a desert like it used to be," Bushor said. Bushor, who bought the hotel for $7 million through a bankruptcy auction with partners, including marine artist Wyland and major Hawaii island landowner Ed...
NCE Realty & Capital Group Acquires Long-Dormant French Quarter Inn in Memphis, Tennessee for $1.9 M
December 31, 2013
Dec. 31--The long-closed French Quarter Inn was sold Tuesday morning to California-based NCE Realty & Capital Group. The deep-pocketed firm paid $1.9 million in cash, said one of the sellers, Memphis attorney Donald W. Pemberton. He said it is his "understanding" that the buyers intend to renovate the 105-room Midtown hotel and keep it as a boutique hotel. But Pemberton referred questions about any plans to the buyers. A spokesman for NCE Realty said Wednesday the purchasers are not ready to answer questions about the property's future. One principal resides in the Memphis suburb of Olive Branch, Miss. The New Year's Eve transaction...
Tourism Matters: The Customer is King
December 9, 2013
Dec. 09--I cannot think of many, if not any, more important aspects of the hospitality industry than constantly listening and responding to your guest's comments, whether negative or positive. The customer is king. I recently stayed at two '4-star' hotels in the Florida Keys. The first, Hawks Cay, was excellent and met every expectation. The second, a major branded hotel, fell dramatically short and I thought that it was only constructive and objective to report our experience. Sadly, while staying at the hotel, management did not respond to concerns raised and as I had pre-paid in full, weeks prior to arrival, felt we did not have the ...
Is TRevPAR the Most Effective Metric for Revenue Managers?
Jean Francois Mourier | December 15, 2013
By Jean Francois Mourier There has been a great deal of discussion as of late as to the value of the revenue management metric TRevPar (Total Revenue per Available Room). TRevPAR is calculated by dividing the total net revenues of a property (room revenues plus ancillary revenue streams such as food and beverage, rentals, etc.) by the total available rooms. Many industry experts are saying that TRevPAR is a more valuable metric than RevPAR in determining pricing strategies, but I'm here today to offer a different opinion. TRevPAR is a fantastic metric for accountants, hotel owners and even the general manager, as it helps to determine t...
Historic Los Angeles High-Rise, Formerly the Case Hotel, to be Converted into Boutique Inn
December 14, 2013
Dec. 14--An empty high-rise hotel dating to the 1920s in downtown Los Angeles will be brought back to life by new owners who hope to make it into a four-star boutique inn. The 13-story former Case Hotel on the southeast corner of Broadway and 11th Street was purchased by local developers Frank Stork, the Kor Group and Channing Henry of Alma Development, the buyers said. They paid Jade Enterprises $13.5 million for the property, according to real estate broker Mike Condon Jr. of Jones Lang LaSalle. The development team plans to redesign and redevelop the old hotel to make it appeal to leisure travelers and downtown's growing population o...
Soffer Family Buys Out Dubai’s 50% Share of the Fontainebleau Miami Beach, Florida
December 17, 2013
Dec. 17--The government of Dubai has sold back its 50 percent share of the Fontainebleau Miami Beach but will receive a significant bonus should Florida legalize resort casinos and give the oceanfront hotel a shot at gambling revenues. The deal leaves the Soffer family the owners of South Florida's largest resort after six years of having an investment arm of the Persian Gulf emirate as a partner. In 2007, Dubai's Nakheel Leisure paid $375 million for a 50 percent share of the resort at a time when Jeff Soffer, who spearheaded the Fontainebleau project, was facing a cash crunch as a $650 million renovation of the 1,504-room resort was c...
Mohegan Sun & City of Revere, MA Reach Deal For $1 Billion Resort Casino Outside Boston
December 24, 2013
Dec. 24--Mohegan Sun and the city of Revere, Mass., on Monday announced a host community agreement that cements their plans for a resort casino in Greater Boston. Also on Monday, MGM Resorts International and its partners were deemed suitable to operate a casino in the state, a key ruling by the Massachusetts Gaming Commission on MGM's plans to build an $800 million gambling resort in downtown Springfield. Mohegan Sun and officials in Revere announced their agreement Monday afternoon. Revere would get annual revenue of $25 million to $30 million, payments of $33 million before the casino opens, and about $40 million in infrastructure im...
Dispute Over Hotel Wares Muddles Prospective Sale of Naniloa Volcanoes Hotel in Hawaii
December 13, 2013
Dec. 13--A delayed sale of the Naniloa Volcanoes Hotel in U.S. Bankruptcy Court is expected to be completed next week, though the buyer has alleged that hotel equipment and inventory is missing from the oceanfront Hilo property. The buyer, real estate developer Ed Bushor, who is partnering with marine artist Wyland to revitalize the troubled hotel, has proposed extending a now-past purchase deadline to Wednesday. Bushor, however, has asked that $2 million of the $5.2 million purchase price be frozen in escrow until an accounting of hotel property can be done. Bushor claimed in court documents that all towels and linens are missing and t...
Sacramento Area Hotels Maintaining Strong Occupancy Rates at 71.7%; ADR & RevPAR Up From Last Year
December 13, 2013
Dec. 13--Occupancy at Sacramento-area hotels stayed above the key 70 percent threshold in October, according to the latest monthly report by the San Francisco office of hotel industry tracker/consultant PKF Consulting USA. PKF said the average occupancy rate among area hotels in October was 71.7 percent. That was down only slightly from 71.9 percent in September and up from 69.1 percent in October last year. It also marked the seventh month out of the last eight that the rate topped 70 percent. In the lodging industry, 70 percent occupancy is generally considered the point at which hotels can raise room rates and generate more revenue. ...
