News Top: December
ProfitSword Announces Strategic Appointments to Executive Team
ProfitSword | December 21, 2015
Orlando, Florida – December 21, 2015 – ProfitSword has named three internal leaders to key executive team positions effective January 1, 2016. Paul Bennie, previously the Director of Client Services has been promoted to Director of Sales, North America, Maureen Allen, previously Client Services Supervisor, has been promoted to Director of Client Services, and Brian Treadwell, previously Technical Services Liaison, has been appointed Director of Technical Services. Both Bennie and Allen have been with ProfitSword for more than five years, Treadwell for four, and all have exhibited a true passion for ProfitSword's 60+ clients,...
Marriott’s Acquisition of Starwood: Winners and Losers
Vikram Singh | December 22, 2015
by Vikram Singh Marriott's acquisition of Starwood is great news for investors, but unfortunately not for Starwood hotel guests and employees. The quote that sums up the reasoning behind this deal came from Starwood Chairman Bruce Duncan. "We are committed to what is best for shareholders." Notice that employees and guests are not mentioned. This is because they are not the focus of the consolidation. Industry consolidation is aimed at increasing investors' profits or killing a competitor in the industry. With this deal, Marriott is hitting both those key points. When a deal like this is made, the numbers have been run and re-run hundre...
AccorHotels to Acquire Three Iconic Hotel Brands – Fairmont, Raffles, Swissôtel
AccorHotels | December 9, 2015
An unrivalled collection of iconic hotel assets with 155 hotels and resorts, of which 40 are under development Acquisition to provide AccorHotels with robust and global leadership in luxury hotels, a key segment in terms of geographic reach, growth potential and profitability, for long-term value creation FRHI's unrivalled hotel portfolio, expertise in marketing luxury hotels and sizeable footprint in North America, provide a stronger platform to continue aggressive worldwide expansion. AccorHotels will pay for the acquisition by issuing 46.7 million new Accor shares and a cash payment of $840 million (€768 million) – Qa...
Top 10 Trends for 2016 by Robert A. Rauch, CHA
Bob Rauch | December 2, 2015
2016 promises to be the most profitable year our industry has ever seen due to strong rate growth, minimal supply impact, low interest rates and oil prices and a somewhat minimal impact from disruptors like Airbnb, living wage bills and health care costs. As we do every year, following are the trends that will help you maximize your business opportunities in the year ahead. Analytics rule! Everything is trackable now. Not only can we see how much attention a certain ad campaign is getting, but we can see the geographic location of the users interacting with it, their age, and a general idea on their income. Use this information to targe...
Global Hotel Industry & Trends for 2016 – an Infographic
December 17, 2015
Includes projected global hotel industry revenue, hotel occupancy and room rates; business, predicted hotel technology, and predicted hotel marketing trends for 2016 • The global hotel industry revenue is predicted to reach $550 billion dollars in 2016. • Europe and Asia Pacific are key regions with the highest hotel occupancy rates at over 68% respectively. • The Middle East and Africa are the most expensive regions for hotel rates with a $165.97 dollar daily room rate on average. Infographic provided courtesty of Michelle Mangan. ...
The Millennial Shift in Hotel Brands
Brett Russell | December 8, 2015
By Brett Russell | December 2015 The past ten years have ushered in the introduction of more new hotel brands than any time in modern history. Most of these are geared toward the Millennial Generation, with hotel companies creating concepts to capture this vital segment of demand. The U.S. hotel industry is in the midst of its latest, greatest up-cycle in recent memory, with performance figures going skyward year after year. This is part of the reason that major hotel brands, as well as smaller niche companies, have been taking a chance on innovative hotel concepts. Most of these have been engineered to identify with the so-called Mille...
Strategic Hotels & Resorts to Be Acquired by Blackstone
Strategic Hotels & Resorts, Inc. | December 9, 2015
CHICAGO, Dec. 9, 2015 -- Strategic Hotels & Resorts, Inc. (NYSE: BEE) (the "Company") announced that the holders of its shares of common stock approved the acquisition of the Company by affiliates of Blackstone Real Estate Partner VIII L.P. ("Blackstone") at its special meeting of stockholders held earlier today. Subject to the satisfaction or waiver of all closing conditions related to the transaction, the Company expects the transaction to close on December 11, 2015 and that such date will be the last trading day of the Company's shares on the New York Stock Exchange. As announced previously, on September 4...
Three Tips for Avoiding Fraudulent Credit Card Transactions
Rich McIver | December 9, 2015
by Rich McIver As credit card use become more popular, so does the act of credit card fraud. According to a Federal Reserve Payments Study, the estimated number of fraudulent transactions in 2012 was 31.1 million, with a value of $6.1 billion. When businesses process these fraudulent charges, they could lose money and be forced to deal with other long-term issues. Hotels and other companies will always be faced with fraudulent credit card transactions. Knowing how to detect these possible charges and establishing steps to deter them could save your business time and money. Here are some tips for avoiding fraudulent credit card transacti...
Architectural Hotel Trends For 2016
the Author | December 28, 2015
By Scott Lee December 28, 2015 When we've talked about hotel trends any time in the past few years, three main topics have dominated the conversation: millennials, technology and AirBnB. These three major topics trickle down to form any number of different conversations about the travel experience, from brand to booking to design. The big news for 2016 is the fact that we cannot simply attribute these trends to the millennial generation. Baby boomers also seek out meaningful, authentic experiences, quickly adopt new technologies, and have to a great degree embraced a sharing economy. These trends, and the myriad effects upon the bra...
IHG and Kebsup Group Company Limited to Open the 180-room Hotel Indigo Phuket Patong in 2018
December 28, 2015
28 December, 2015 - InterContinental Hotels Group (IHG®), one of the world's leading hotel companies, has signed a management agreement with Kebsup Group Company Limited to open the first Hotel Indigo® in Phuket. Set to open its doors to guests in 2018, the 180-room Hotel Indigo Phuket Patong will be located in the northern end of the bustling Patong beach town, renowned for its lively shopping scene and a wide variety of restaurants and bars peppering the busy streets. Guests staying at Hotel Indigo Phuket Patong will enjoy the hotel's close proximity to the beach in the day and the easy access to the town's vibrant night life ...
US Hotels Selling at Record Highs with Average Selling Price Per Room (ASPR) of $165,303
Lodging Econometrics | December 1, 2015
Dec. 1, 2015 - PORTSMOUTH, NH - According to a recent United States Transactions Trend Report from Lodging Econometrics, through September there were 827 hotel sales with reported selling prices with an Average Selling Price Per Room (ASPR) of $165,303, an all-time high. The ASPR is 11% higher than the $148,658 recorded for year-end 2014. The 2015 ASPR is strongly influenced by five transactions that have sold for more than $1,000,000 per room: in New York City the Baccarat at $2.0 million and the Waldorf Astoria at $1.4 million per room; in California the Malibu Beach Inn at $1.7 million per room and the Montage at Laguna Beach and the...
Starwood Hotels & Resorts Names Thomas B. Mangas CEO
Starwood Hotels & Resorts Worldwide, Inc. | December 15, 2015
Longtime Starwood Veteran Alan M. Schnaid Appointed CFO December 15, 2015 - STAMFORD, Conn. - Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) today announced that Thomas B. Mangas, currently Executive Vice President and Chief Financial Officer, has been named Chief Executive Officer, effective December 31, 2015. The appointment follows the resignation of Adam Aron, who is leaving Starwood at the end of the month to become Chief Executive Officer and President of AMC Entertainment Holdings, Inc. (NYSE: AMC). Starwood continues to expect its previously announced acquisition by Marriott International Inc. (NASDAQ: MAR) to close b...
Rockpoint, Highgate & hotelAVE Partner on the Acquisition of The Renaissance Boston Waterfront Hotel
Rockpoint Group | December 3, 2015
NEW YORK-- December 3, 2015 --Rockpoint Group, LLC, Highgate and Hotel Asset Value Enhancement (hotelAVE) announced today that they have agreed to purchase The Renaissance Boston Waterfront Hotel in a joint venture. Highgate and hotelAVE will also assume asset management as part of the sale. Situated in the vibrant Seaport District, The Renaissance Boston Waterfront Hotel occupies a prime waterfront location at 606 Congress Street. The luxury hotel features 471 guestrooms, including a Presidential Suite, 20,000 square feet of meeting space and three food and beverage outlets including M.C. Spiedo Ristorante & Bar, Capiz Bar, and Sta...
China Oceanwide Holdings Plans Development of Two More Hotels for Hawaii’s Ko Olina Resort
December 18, 2015
Dec. 18--A Chinese corporation closed on two Ko Olina Resort beachfront parcels Thursday and plans to make a $1 billion investment, including the construction of two new uber-luxury branded resorts. China Oceanwide Holdings Group Co. Ltd. paid $200 million to purchase the 1 million-square-foot fee-simple property, said Jeffrey R. Stone, founder and master developer of The Resort Group, Hawaii's largest landowner of master-planned resort communities. Stone said the company plans to build two new hotels, which will add 400 traditional hotel rooms and 400 residences to Ko Olina Resort. Stone said hotel branding will be announced before...
Checking Out? PLEASE Give Me Your “But!”
Doug Kennedy | December 8, 2015
By Doug Kennedy December 8, 2015 As the old axiom goes, "The worst complaint is the one that is never mentioned." That's why in my hospitality training workshops I always try to shift the paradigm of my participants into seeing guest complaints as second chance opportunities. As I often say, we should encourage guests to voice their concerns and celebrate negative feedback. Better that a guest shares their issues and complaints with us while they are in-house rather than waiting until they leave and going online to post a negative guest review. Of course all hotel managers would prefer that a guest bring a service gap issue to our atten...
Pacifica Purchases the Westin Lake Las Vegas Hotel Out of Foreclosure for $25 Million
December 21, 2015
Dec. 22--The Westin Lake Las Vegas hotel, which as a prior brand crashed financially with the lavish community it's built in, has a new landlord. The 493-room Henderson resort, a rest stop for President Barack Obama while on the campaign trail, was purchased Friday out of foreclosure for $25 million. State and county records indicate the buyer was Pacifica Cos., a San Diego-based investment firm, but do not say whether the sale included anything beyond the real estate. The sales price was 84 percent below what previous owners paid almost a decade ago, during the bubble years. It's not immediately clear what, if any, affect the s...
Boom to Bust; Eagle Ford Shale Lodging Markets Update
Jonathan Jaeger, MAI | December 17, 2015
By Jonathan Jaeger and Robert Van Laer The current lodging industry fundamentals within the Eagle Ford Shale (EFS) markets have changed dramatically over the past twelve months. As previously discussed within the Hotel Rush! Texas Energy Lodging Markets 2014 article, the EFS is one of the largest single economic developments in the history of the State of Texas as a result of technological advances to allow for economically feasible domestic oil & natural gas production. In many rural areas throughout south Texas, demand for hotel rooms had been growing exponentially due to increased activity from drilling crews, land surveyors, eng...
San Diego, California’s W Hotel Converts to Marriott-branded Renaissance with Renovation Planned
December 23, 2015
Dec. 23--San Diego's only W hotel is no more, having converted this month to a Marriott-branded Renaissance following a decision by the owners to make a change in the management and name. A presence in downtown San Diego since it opened in December of 2002, the tony 258-room highrise was until this month part of the Starwood Hotels and Resorts portfolio. Its grand opening attracted a star-studded crowd of Hollywood celebs, sports figures and local politicians, and for years was best known for its hip rooftop bar, the Beach, which featured a heated sand-covered floor. Scott Hermes, Starwood's area managing director for the Southe...
Trust Hospitality Appoints Management Team for Zemi Beach House to Open on Anguilla in February 2016
Zemi Beach House | December 21, 2015
Names General Manager Markus Laahanen, DOSM Sakari Malinen, and Spa Director Jasmine Welsh SHOAL BAY EAST, ANGUILLA (December 21, 2015) - In preparation for its February 2016 opening in Anguilla's storied Shoal Bay East, Zemi Beach House announces today that it has assembled a powerhouse team appointed by resort management company, Trust Hospitality. New executive hires include the general manager, spa director and director of sales and marketing. Possessing extensive Caribbean and international resort expertise, the Zemi Beach House leadership team will be the driving force needed to launch the island's first East End resort. &...
PKF Hospitality Research Extends Record U.S. Occupancy Forecast Through 2017
PKF Hospitality Research, a CBRE Company | December 9, 2015
West Coast Markets Lead the Way December 9, 2015, Atlanta, Ga. – U.S. hotel occupancy will remain at record levels through 2017 according to PKF Hospitality Research | CBRE Hotels (PKF-HR). In the recently released December 2015 edition of Hotel Horizons®, PKF-HR forecasts that the growth in demand for lodging accommodations will exceed the change in supply during each of the next two years. The result will be a national occupancy rate of roughly 66 percent in both 2016 and 2017. "The fundamental characteristics of the economy remain relatively unchanged, as the labor market continues to improve and GDP growth remains steady i...
Go Behind the Scenes at Four Seasons Chicago to Meet the Real Reason Guests Return
December 24, 2015
Dec. 24--Flora Lacy, a housekeeper at the Four Seasons, was smoothing the duvet on a bed she had almost finished making when she caught a glimpse of the unacceptable: a tiny black smudge, likely from an iron, near the hem of the top sheet. "Oh no," she muttered, and proceeded to strip and remake the bed again to rid it of the nearly imperceptible blemish. A guest, she told a visitor gravely, might mistake it for makeup and think the sheets hadn't been washed. The Four Seasons, a luxury standby in Chicago's increasingly crowded hotel market, rests its reputation on its meticulous standards and high-level service. Behind...
Destination Hotels Shares 2016 Trend Forecast in 4th Annual ‘State of the Meetings Industry’ Survey
Destination Hotels | December 3, 2015
Englewood, Colo. – Dec. 3, 2015 – Destination Hotels, the largest operator of independent hotels, resorts and residences across the US, releases key findings on 2016 meetings trends today from its fourth annual "State of the Meetings Industry" survey. Nearly 300 meeting planners* across North America – of which 53.5 percent control more than $100,000 per year in direct meeting spend for their organizations – were surveyed on how their planning duties and their meetings are changing for 2016. The following is a summary of the most significant survey results, plus front-line insight from meetings-focused executives...
How Hoteliers Can Handle a Minimum Wage Jump
Laurel A. Keller | December 21, 2015
December 2015 by Laurel A. Keller, MAI and John Kelley III, CHIA Over the past dozen years, 23 cities in the United States increased minimum wage above the federally mandated level. Another nine cities have similar legislation pending, and more are expected to follow suit. Meanwhile, government officials, economists and Americans everywhere debate the merits of more than doubling the federally mandated minimum wage from $7.25 to $15. Because labor cost represents the majority of a hotel's expenses, this issue has significant implications for hotel executives, owners and operators. Hotel & Leisure Advisors' research indicates that a ...
Closed September of 2014, The InterContinental New York Barclay Set to Reopen After $180M Renovation
December 8, 2015
NEW YORK, NY (Dec. 8, 2015) - The InterContinental New York Barclay hotel, an icon of refined elegance, is currently undergoing an extensive $180 million renovation and will make its grand debut in spring 2016 as Manhattan's luxury hotel of choice. The Barclay will feature 704 beautifully designed guestrooms with 31 suites, which includes an expansive Presidential Suite and a Penthouse Sky Suite with 1,500 square feet of outdoor terrace space overlooking the Chrysler building. In addition, the hotel will offer 15,000 square feet of meeting space, including two large ballrooms, an alluring gin bar and lounge that will establish itsel...
HRI Lodging Appoints Brian Berry New General Manager of Hilton Garden Inn Jackson Downtown
Hilton Garden Inn | December 21, 2015
JACKSON, Ms (December 21, 2015) –– Hilton Garden Inn Jackson Downtown has appointed Brian B. Berry as the hotel's general manager. As general manager, Berry will be responsible for directing all aspects of hotel operations, including guest services, hotel administration and all sales and marketing efforts. Berry brings a wealth of experience to the role, having worked for nearly 20 years in the hospitality industry. Berry has held positions of increasing responsibility with groups including PHD Hospitality, Eagle Hospitality Development and HP-Hotels serving as Corporate Director of Operations, General Manager and Senior Dir...
