News Top: May
CoralTree Hospitality Group to Manage The Eddy Hotel in Golden, Colorado
May 28, 2019
Denver, Colo. – May 28, 2019 – Tom Luersen, president of CoralTree Hospitality Group, today announced that the company has been selected by Confluence Companies to manage The Eddy Hotel in Golden, Colo. Construction will begin shortly on the 49-room boutique hotel, which is expected to open summer 2021. "This is an exciting new project for CoralTree," said Luersen. "Golden is an incredibly vibrant community – it's truly the gateway to the Rockies. With the whitewater playpark downtown, an emerging food scene and a welcoming spirit, it's the perfect place for a hotel like The Eddy. We are thrilled that Confluence select...
Braemar Hotels & Resorts Unveils The Notary Hotel, an Autograph Collection Property Opening Early Summer 2019 in Philadelphia
May 2, 2019
DALLAS, May 2, 2019 -- Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") today announced the planned opening of The Notary Hotel in early summer 2019. Listed on the National Register of Historic Places, the former Courtyard by Marriott Philadelphia Downtown underwent a rebranding and renovation in excess of $20 million to create The Notary Hotel. Fusing Philadelphia's unique soul with its historic legacy, the hotel now joins Marriott International's Autograph Collection® Hotels, a diverse portfolio of 177 independent hotels around the world that reflect unique vision, design and craft. Originally designed by proli...
How Hotels Can Embrace the Experience Economy
David Millili | May 16, 2019
By David Millili Atif Rafiq begins his tenure at MGM Resorts this month. A departure for a casino hotel operation that would typically hire from within the industry, Rafiq's background isn't in hotels at all. Instead, his most recent position as chief digital officer and global chief innovation officer at Volvo Cars signifies a shift in the way MGM is thinking about hospitality, moving away from traditional approaches and toward digital experiences. As Rafiq tells Skift, "Being a Silicon Valley native in tech companies, I want to think about how to bring the digital and physical together. I'm looking at it how a tech company would look ...
RevPAR Is Only One Piece of the Picture
David Eisen | May 17, 2019
By David Eisen Imagine you're scouting a young baseball player or footballer—someone experts have pegged as the next Derek Jeter or Lionel Messi. You can't, however, just take their word for it; you have to see their performance for yourself and also dig into the numbers—into how they rate statistically. Now, imagine you are only allowed to consult one statistic, such as batting average (hits divided by at-bats) or goals scored. Then, imagine that within this context, our Jeter heir apparent is hitting a more-than-respectable .315, and our Messi-to-be is his team's leading goal scorer. Great news, right? Well, yes and no. ...
Marriott International Statement on Health of President and CEO Arne Sorenson
Marriott International | May 3, 2019
Marriott International, Inc. (NASDAQ: MAR) today announced that President and CEO Arne Sorenson was diagnosed on Wednesday with stage 2 pancreatic cancer. Sorenson, 60, received the diagnosis from a medical team at Johns Hopkins Hospital in Baltimore after a series of tests. Sorenson will remain in his role while undergoing treatment. In a message to Marriott International associates, Sorenson noted: "The cancer was discovered early. It does not appear to have spread and the medical team – and I – are confident that we can realistically aim for a complete cure. In the meantime, I intend to continue working at the company I l...
Kimpton Hotels & Restaurants to Redevelop Omaha’s Century-Old Blackstone Hotel and Office Building Into 205-Room Kimpton Omaha
Kimpton Hotels & Restaurants | May 31, 2019
SAN FRANCISCO (May 31, 2019) -- Kimpton Hotels & Restaurants announced today its first property in Nebraska, a complete rehabilitation of the historic Blackstone Hotel and former office building. The project is scheduled to open in the spring of 2020. Located in the popular and vibrant Blackstone District of Omaha near several iconic American companies, including Berkshire Hathaway, Mutual of Omaha, Ameritrade, and the Kiewit Corporation as well as the University of Nebraska Medical Center, the century-old property will feature 205 guestrooms, a steakhouse and the reimagined celebrated Cottonwood Room bar. A swimming pool in a resort-s...
How Will the Hospitality Industry Benefit From the IoT
Ana Bera | May 9, 2019
By Ana Bera The Internet of Things (IoT) has the potential to be a gamechanger for those in the hospitality industry. Therefore, it is essential for managers, hotel owners, and other business leaders to try to make the most of it. However, according to research, 87% of people are not familiar with the concept of the Internet of Things let alone what this technology means for the hospitality industry. In this article, we have discussed this matter, and hopefully, you will learn more about the latest tech buzzword and how does it cater to client needs. What Is the Internet of Things? The term 'Internet of Things' refers to the idea of cre...
Airbnb v. Hotels: New Research Sheds Light on How They Can Compete and Benefit in the Sharing Economy
INFORMS and Marketing Science | May 1, 2019
Key Takeaways: Airbnb cannibalizes hotel sales, particularly in the lower-priced leisure travel segment, while at the same time creating market expansion. Airbnb can help stabilize or even increase demand during peak travel seasons, offsetting the potential for higher hotel prices which can sometimes be a deterrent. The flexible lodging capacity created by Airbnb may disrupt traditional pricing strategies in some markets, actually helping to minimize the need for seasonal pricing. As Airbnb targets business travelers, higher-end hotels are most likely to be affected. CATONSVILLE, MD, May 1, 2019 – Researchers from the Teppe...
Why Lifestyle Hotels Are Not Just for Millennials
JLL Real Views | May 6, 2019
Lifestyle hotels may tick all the boxes for millennial travellers but they're not the only generation drawn to their mix of contemporary design, nods to local culture and good wifi connections. In recent years, they've become an increasingly popular choice among travellers across all age groups – by combining the personalised touches and high-quality service of a boutique hotel with the convenience and reliability of big hotel chains – while operating at a premium price point. As lifestyle brands such as Indigo by the InterContinental Hotels Group, Aloft, Moxy and W under Marriott, as well as Andaz by Hyatt pop up across the...
Hyatt Launches New Lifestyle Division Following Its Fall 2018 Acquisition of Two Roads Hospitality Brands
Hyatt Hotels Corporation | May 23, 2019
CHICAGO (May 23, 2019) – Hyatt Hotels Corporation (NYSE: H) announced the organization of a new, dedicated lifestyle division, which brings together Hyatt's and former Two Roads Hospitality's lifestyle brands, including Andaz, Alila, Hyatt Centric, Joie de Vivre Hotels, Thompson Hotels and tommie. Announced as global head of lifestyle operations, Frederic Flageat-Simon, former CEO of Two Roads Hospitality Asia, is responsible for developing the global operations strategy for Hyatt's new lifestyle division, working in partnership with the Global Commercial Services organization to drive enhanced operational and financial performanc...
The Garden Court Hotel Palo Alto Appoints Connie Villeta as New Director of Sales and Marketing
Garden Court Hotel | May 8, 2019
Palo Alto, Calif. (May 9, 2019) –The Garden Court Hotel in downtown Palo Alto introduces Connie Villeta, an established sales and management professional, as the new Director of Sales and Marketing. Villeta, a 15 year veteran of California's hospitality industry, will use her experience to raise the hotel's awareness regionally and nationally. In her new role, Villeta will guide the property's day-to-day and long term sales and marketing goals along with overseeing the public relations and social media efforts. "We know Connie Villeta will be a key player in achieving strong sales and marketing growth at the Garden Court," said Ja...
Ten Luxury Fashion Brands Venturing Into Hospitality
Chiara Eckenschwiller | May 2, 2019
In a world where everything has to be documented on social media, customers are increasingly looking for experience-related services. It is not enough anymore to wear luxury products such as a purse or shoes, customers now want to pair their products to an overall experience. Luxury travelers are craving luxury experiences As fashion brands are reinventing themselves, what better way to do so while at the same time facilitating the expansion of their empire? Luxury hotels are increasingly appealing to travelers, especially at a time when luxury becomes more accessible and diverse. Luxury travelers are craving experiences that go beyond...
What Hotels Can Learn From Delta Airlines About Personalized Guest Engagement
Doug Kennedy | May 3, 2019
By Doug Kennedy My career as a hotel industry trainer and conference speaker keeps me on the road nearly every week, so I try to take advantage of every available travel perk. Living in the Ft. Lauderdale / Miami area, I am fortunate to have two major airports within 35 minutes, and with this being a popular tourism destination there is a wide selection of non-stop flights. Therefore, I cannot always remain loyal to just one airline because it's hard to justify wasting time taking a connecting flight, or perhaps spending an extra night on the road, just to earn miles. As a result, I have premium status with several airlines each year. I...
Ground broken on New Fairfield Inn & Suites in Oskaloosa, Iowa
May 19, 2019
May 20-- May 20--OSKALOOSA -- Ground was broken Thursday at the site of a new Fairfield Inn and Suites Hotel. Located on the west side of Oskaloosa along A Avenue West and Gateway Drive, the hotel will boast 76 rooms with smart technology, complimentary hot breakfasts, a large indoor swimming pool and exercise facility and meeting space to accommodate 80 people. President of Swift Hospitality Group Matt Jacobs said he was introduced to the local team last year to do some pre-development work and decide if it was feasible to build a hotel in the chosen site. "And wow. It didn't take long," he said. "We drove here, we drove to the supp...
Instagram Strategy for Hotels: How to Maximize Your Social Media Marketing
Patrick Landman | May 6, 2019
By Patrick Landman Customers now take photos of everything at any moment of the day. This new trend is influencing how restaurants and hotels design their spaces. So, if you want to make your hotel more 'instagrammable,' as is the prevalent buzzword, and integrate a proven Instagram strategy for hotels, read on and follow our handy tips. For more than half of millennials, the most important current demographic group, Instagram is their first point-of-reference when picking holiday destinations. With this in mind, it is clear that having beautiful pictures of your hotel online will help ensure that the number of customers coming through ...
Hotel Revenue Management Expert Launches Consulting Firm
May 28, 2019
San Francisco, CA – With hotels in the U.S. and globally preforming at record-breaking rates (STR, 2018), a new service is available to help underperforming properties get their part of the pie. Rob Sudakow, an expert in revenue management across the hotel spectrum, has launched RevUp Consulting to help distressed hotels build stronger bottom lines. RevUp offers a complete system, including revenue management, budget forecasting, competitor evaluation, e-commerce, and distribution. Clients can choose to have a virtual hotel revenue manager specifically for their property. With this service, clients receive hands-on support that is...
Gradual Slowdown in U.S. Hotel Performance to Continue
CBRE Hotels | May 29, 2019
Atlanta – May 29, 2019 – The U.S. lodging supply will increase at an annual pace greater than the long-run average through 2022, according to CBRE Hotels Research's latest report. Meanwhile, the annual rise in the demand for these new hotel rooms is projected to average roughly three-quarters of its respective long-run average. The result is declining occupancy forecasts for the U.S. lodging industry in both 2020 and 2021. According to the June 2019 edition of Hotel Horizons®, CBRE Hotels Research projects U.S. national occupancy levels to remain flat in 2019 at 66.2 percent, then decline to 65.7 percent in 2020 and 64.6...
Amy Johnson Named General Manager of The Confidante Miami Beach
The Confidante Miami Beach | May 17, 2019
Miami Beach, Fla. (May 17, 2019) – Amy Johnson has been appointed general manager of The Confidante Miami Beach, effective immediately. The Confidante Miami Beach is part of The Unbound Collection by Hyatt brand, a portfolio of new and existing upper-upscale and luxury hotel properties that offer a truly differentiated stay, with personality, elegance and charm. The independent brand, which encompasses a wide range of unique properties, offers striking new adventures and unforgettable experiences. A celebrated hospitality professional with more than 30 years of industry experience, Amy most recently served as General Manager of Hy...
Hotel Co-Working on the Rise as 55% of People Struggle to Concentrate at Work
Guestline | May 20, 2019
Hotels set to revolutionize the way we work as almost half of people prefer to remote work in hotels. Over 55% of workers who also work remotely (either occasionally or full time) struggle to concentrate in the office for at least half an hour each day, according to a new study conducted by Guestline. People are therefore losing an average of 116 hours of work per year, which equates to almost 17 working days, due to a dip in productivity within their working environment. The study surveyed 2,000 people to understand what it's like to work remotely and use co-working spaces. The statistics unveil the challenges people face when co-worki...
20th Century New York Mansion Joins The Ascend Hotel Collection
May 21, 2019
ROCKVILLE, Md., May 21, 2019 -- The Ascend Hotel Collection by Choice Hotels International, Inc. (NYSE: CHH), a portfolio of unique, boutique, and historic hotels and resorts that reflect their surrounding community, now has a century-old mansion in Johnson City, N.Y., among its members. Traditions at the Glen has welcomed the likes of Dwight Eisenhower, Eleanor Roosevelt, and Bing Crosby to its halls, and today, invites all guests to experience its distinguished legacy. The 41-room Traditions at the Glen is located at 4101 Watson Blvd. along the Susquehanna River and 18-hole championship fairways once played by golf legends Ben Hogan a...
Hoteliers, Take Note: Millennials Own Your Future
Ryan King | May 30, 2019
The first truly digital generation has the most buying power and is increasingly more vital to the labor force By Ryan King, Director of Strategic Partnerships – StayNTouch Hoteliers, we have news for you. Millennials – that group of individuals born between the early 1980s and the early 2000s – own your future. Understanding millennial consumers has become a significant discussion point across industries over the last few years. Why? Because they are the first truly digital generation with more buying power of any other demographic before them. With $600 billion in annual buying power and notably different purchase m...
The Winnetu Oceanside Resort Appoints Matthew Moore as New General Manager to Lead the Iconic Newly Renovated Resort
The Winnetu Oceanside Resort | May 2, 2019
EDGARTOWN, Mass. (May 2, 2019) – Winnetu Oceanside Resort, Martha's Vineyard's premier seasonal getaway, announces today the appointment of Matthew Moore as General Manager for the property's 2019 season reopening. "We are thrilled for Matt to join our team and are confident that his leadership abilities come at the perfect moment as the resort has undergone a multi-year refresh and renovation," said Winnetu Oceanside Resort co-owner, Gwenn Snider. "Matt's enthusiasm for hospitality and management capabilities are sure to add to the cherished Winnetu guest experience." With more than 25 years of diversified experience in hotel and...
Park Hotels & Resorts to Acquire Chesapeake Lodging Trust for $2.7 Billion
Park Hotels & Resorts | May 6, 2019
TYSONS, Va.-- May 6 2019 --Park Hotels & Resorts Inc. ("Park", the "Company") (NYSE:PK) and Chesapeake Lodging Trust ("Chesapeake") (NYSE:CHSP) today announced that they have entered into a definitive merger agreement under which Park will acquire all the outstanding shares of Chesapeake in a cash and stock transaction valued at approximately $2.7 billion (inclusive of transaction costs). Upon completion of the merger, the combined company will have an estimated enterprise value of $12 billion, firmly solidifying Park's position as the second largest lodging REIT while also advancing the Company's strategic goals of portfolio enhancement ...
Hawkeye Hotels and JR Hospitality Launch Historic Rehab to Convert Vacant Minneapolis Building to Dual-Branded Hilton Hotels
Hawkeye Hotels | May 23, 2019
MINNEAPOLIS – This month, a major rehab process will breathe new life into one of the city's vacated historic properties, as Iowa-based Hawkeye Hotels and Minnesota-based JR Hospitality begin rehab on a dual-branded hotel in downtown Minneapolis. This is the city's first Home2 Suites by Hilton and first Tru by Hilton. These hotels are the companies' 11th and 12th joint ventures together in the greater Minneapolis-Saint Paul area. "To our team, it's an honor to bring both of these hotel flags to Minneapolis for the first time," said Damen Trebilcock, Vice President of Development at Hawkeye Hotels. "W...
How to Add Value to Your Hotel Asset
Carrie Russell | May 16, 2019
By Carrie Russell At the most basic level, the value of a hotel is based on the property's net income divided by a capitalization rate. As such, one has two possible levers to adjust as a means of increasing a property's value: either increase the property's net income or decrease the capitalization rate. The capitalization rate, which is a factor that represents both the risk and the desired return associated with a given asset, is in actuality difficult to influence. Firstly, returns are market driven, which means that the capitalization rate is determined by market forces, not the will of owners. Secondly, it is the buyer's perceptio...
