How to Better Manage Conference and Banqueting When It Returns
HotStats | October 28th, 2020
Summarizing the Financial Consequences of the Pandemic
Larry Mogelonsky | October 28th, 2020
News Top: October
Branded Hotels: Who Has the Best Contactless App?
Sonya Taylor | October 19, 2020
Safety is still paramount for those that are traveling today and putting guests at ease is a top priority. So, of the major brands (Marriott, Hilton, IHG), Cogwheel Marketing did a little research on which brand the best contactless opportunities for guests. All three of the major brands offer some form of digital check-in, one thing they do all have in common is you must be a rewards member. Easy, all you have to do is sign up. Now that eligibility is out of the way, let’s get to the nitty-gritty. IHG App Contactless Options Offers Mobile check-in for all IHG branded hotels in the Americas effective November 1, 2020 Must be ...
DCF Is the Most Appropriate Method of Hotel Valuations, Especially During the COVID Era
Akash Datta | October 5, 2020
By Akash Datta, Dipti Mohan In a market like India, where land most often than not is mis-appropriately valued resulting in exaggerated project costs and hotel transactions are limited in number, the only viable methodology that remains relevant especially in the current uncertain & volatile market scenario is that of Discounted Cash Flows (DCF). Moreover, the current pandemic has had an unprecedented impact on the hospitality sector, with hotels being temporarily closed and the sector witnessing all-time low performance metrics, by the virtue of which, assessing the value of a hotel on current income fails miserably. Hotels are ext...
2021 Hotel Forecast
Robert Rauch | October 1, 2020
By Robert Rauch The COVID-19 pandemic has caused unprecedented disruption to the hospitality industry, so when it comes to mapping a post-pandemic recovery, it’s clear that we are in uncharted territory. The Lodging Conference hosted Bernard Bauhmohl, Chief Economist of the Economic Outlook Group. His remarks related to vaccines, treatments, lack of stimulus package and election results led us to believe we are in for a longer ride along the trough of this recession. Our assessment is that we are at the midpoint with Q2 and Q3 behind us, two more quarters of recession will put us at one full year, close to the average length of a rece...
New Hospitality Group, Long Weekend, Launches Hotel Portfolio
Long Weekend | October 26, 2020
Properties include The Lake House on Canandaigua, The Seagate Hotel & Beach Club and The Elbow Cay Club in Abaco, Bahamas New York, NY (October 26, 2020) – Launching today is Long Weekend, a new hospitality group with three projects under its flag. The independent collective will bring together award-winning designers, architects, restaurateurs and operators to create thoughtfully designed properties located in unexpected destinations. Each Long Weekend property, a mixture of existing and yet to be built, will be unified by a common goal. To create spaces and experiences that hold lasting memories. Long Weekend properties redef...
Marriott International Plans 2021 Opening of The Cloudveil, an Autograph Collection Hotel, in Jackson Hole, Wyoming
The Cloudveil, an Autograph Collection hotel | October 29, 2020
JACKSON, WY (October 29, 2020) – Set to open spring 2021 on Jackson’s historic Town Square, The Cloudveil, an Autograph Collection hotel, will draw upon the town’s signature Western style, while bringing understated luxury and a refined, yet relaxed sensibility to the valley. Rooted in the destination, people, and soul of Jackson Hole, The Cloudveil name gives both a nod to the Cloudveil Dome within the Teton Range, while also invoking the veil of clouds lifting to reveal the transformational journey guests will undoubtedly embark on as they experience the natural wonder and enduring character of Jackson Hole. The Cloudveil will als...
New Owners for Historic Maxwell Mansion Hotel in Lake Geneva, Wisconsin
Maxwell Mansion | October 21, 2020
LAKE GENEVA, Wis. (Oct. 21, 2020) – One of the most intriguing lodging properties in Lake Geneva, Wis., the Maxwell Mansion, is getting new owners. Luke and Monica Pfeifer, Wisconsin natives, will take over the reins from Andrew Fritz, who has owned the property since 2012 and is credited with its rejuvenation as one of the most glamorous inns in this storied lake resort community. For more on the Maxwell Mansion which dates back to 1856, its password-required Speakeasy , Apothecary cocktail bar, crystal-laden ballroom, and shaded gardens, visit www.MaxwellMansion1856.com. The address is 421 Baker Street, just two blocks east of Geneva Lake...
Highgate Assumes Management of Trust Hospitality Portfolio of 22 Lifestyle Properties
Highgate | October 5, 2020
New York, NY – Oct. 5, 2020 – Leading real estate investment and hospitality management company Highgate announced today it has assumed management of Trust Hospitality’s portfolio assets, comprised of 22 hotels and resorts – approximately 3,100 rooms – throughout the U.S., Caribbean and Latin America. The portfolio includes a combination of existing and under development hotels and resorts. This transaction increases Highgate’s footprint in the Caribbean and Latin America, and will enable the company to be the leading hotel manager in the region. Trust CEO Richard Millard and Partner/Head of Development Michael Registe...
Pradeep Raman Appointed General Manager of Baccarat Hotel New York
Baccarat Hotel New York | October 7, 2020
NEW YORK, NY, October 7, 2020 – Pradeep Raman has been named General Manager of the Forbes Five Star AAA Five Diamond Baccarat Hotel New York In this role, he oversees the day to day operation of the flagship hotel, which reimagined the elegance and perfection of the legendary French crystal maker into a luxury lifestyle hospitality brand when it opened in March of 2015. “We are thrilled to welcome Pradeep to the Baccarat Hotel team,” said Arash Azarbarzin, CEO, SH Hotels & Resorts. “We are confident that he will continue the tradition of extraordinary service and position the Hotel for a successful reopening during these unp...
COVID-19 Is Driving Hotel Guests to Focus on Wellness
Amadeus Hospitality | October 7, 2020
Following COVID-19 health concerns, hotels that address the expectations of the new wellness-focused guest will be best positioned to attract bookings in the return to travel. COVID-19 has no doubt created global disruption, particularly in the hospitality industry. Yet, with change comes opportunity, and the chance to reevaluate how we can emerge from the crisis stronger and more resilient. With individuals around the world focused more on health and wellbeing, providing a deeply relaxing and wellness-focused hotel experience is likely to be valued now more than ever before. “It generally takes a major event to be a catalyst for r...
How Operational Efficiency Leads to Optimal Profitability
HotStats | October 22, 2020
In the hotel industry, the deeper decision-makers can drill down into departmental figures, the easier it is to generate revenue, chisel away at unnecessary costs and post a healthy profit. Simply put, the best decisions are driven by in-depth analysis of departmental revenue and operational costs. Sound like too much work? Analyzing these critical figures and unlocking higher profits may be easier than you think. Is the Hotel Industry Measuring Revenue Wrong? First, why is it important to measure departmental metrics? The answer is clear when you look at what most leaders in the hotel industry are doing wrong. The...
Choice Hotels Signs With Fredric Washington to Develop Six Hotels in Florida
Choice Hotels International | October 6, 2020
ROCKVILLE, Md., Oct. 6, 2020 - Choice Hotels International, Inc.'s (NYSE: CHH) one-of-a-kind emerging markets franchise development program has awarded a contract to Fredric Washington to develop six hotels. This new contract with an African American entrepreneur represents the largest minority multi-unit franchise agreement executed in the program's history. "Choice Hotels has a longstanding, deep commitment to diversity, equity and inclusion, and we strive to make every associate, franchisee and guest feel welcome, wanted and respected — that's our brand promise," said Patrick Pacious, president and chief executive officer, Choice H...
Hospitality Financial Leadership: Internal Control Reviews
David Lund | October 5, 2020
By David Lund Hot on the heels of creating a hotel policy manual is the newfound ability to create an internal control review process. Policies are all about the rules of the road and the ICR is all about the roadside check stop. “Excuse me, Sir, have you been drinking tonight?” “Why no, Officer, we’re just coming back from church.” In this piece I am going to examine how to create and use the ICR so your hotel and hotel company will have an effective, efficient and low-cost method of catching the rule breakers and most importantly, making sure everyone stays on the right side of the rules and we all make it home safely....
Summarizing the Financial Consequences of the Pandemic
Larry Mogelonsky | October 28, 2020
By Larry Mogelonsky, MBA, P. Eng. (www.hotelmogel.com) Is COVID-19 the Armageddon for the hotel industry? That’s the first question I asked Dr. Donald W. Wise, co-founder and senior managing director of Turnbull Capital Group. With over 36 years of investment banking experience in the hospitality industry, he and this firm have been involved in roughly $20 billions of advisory, consultation, note sales, preferred equity and debt placements, and transactional engagements on both the buy-side and the sell-side. Given our current state of affairs, it behooves all senior executives and aspiring hoteliers to know a bit about the behind-clo...
The Indigo Road Hospitality Group Acquires The Skyline Lodge in Highlands, North Carolina
Indigo Road Hospitality Group | October 23, 2020
CHARLESTON, SC — OCTOBER 23, 2020 — The Indigo Road Hospitality Group has added The Skyline Lodge in Highlands, NC to its growing portfolio of F&B-driven boutique hotels. Robert Nass, who owned and operated the historic property for nearly three decades, sold it to The Indigo Road for an undisclosed amount. The Indigo Road acquired The Skyline Lodge on September 25, 2020 and will completely renovate the entire property, including the addition of Oak Steakhouse, The Indigo Road’s modern take on the classic American steakhouse. The renovations should be completed by the end of April, with a mid-May reopening of the hotel. “My bus...
Island Hospitality Management Names Samantha Fisher as Chief Investment Officer
Island Hospitality Management | October 13, 2020
WEST PALM BEACH, FL. (October 13, 2020): Island Hospitality Management, the premier third-party management company for select service and upscale extended stay hotels in the United States, has announced the appointment of Samantha Fisher as Chief Investment Officer. In this new role, Fisher will bring her deep understanding of diverse U.S. markets as well as established relationships with the industry’s leading owners and investors to spearhead growth and development strategies for Island Hospitality’s expansive portfolio, underwrite and source deals, and actively manage and establish key relationships with potential investors. “...
FAU Expert Insists Deep Price Discounts Now Will Set Bad Precedent for Hotels After Coronavirus Crisis Ends
Florida Atlantic University | October 5, 2020
BOCA RATON, Fla. (Oct. 5, 2020) – Hoteliers are bracing for a tenuous tourist season as the fallout from the COVID-19 recession lingers, but deep discounting should not be part of the recovery playbook, said Peter Ricci, Ed.D, director of the Hospitality and Tourism Management program in Florida Atlantic University’s College of Business. Ricci contends that hotels should keep rates what they were prior to the pandemic and instead institute a bare-bones operation that includes reduced staffing and expenses with only a small percentage of rooms available to reserve. “This will maintain brand integrity and the quality expectations wi...
Nobody Asked Me, But… No. 238: Hotel History: The Fairmont Hotel in San Francisco
Stanley Turkel | October 13, 2020
by Stanley Turkel, CMHS Hotel History: The Fairmont Hotel, San Francisco, CA (592 rooms) The luxurious Grande Dame atop Nob Hill in San Francisco was named after U.S. Senator James Graham Fair (1834-1894) by his daughters, Theresa Fair Oelrichs and Virginia Fair Vanderbilt. When the silver king James Fair purchased the site back in the late 1800s, his interest was to build the largest mansion in the neighborhood. However, when he died in 1894, the lot was still undeveloped until 1907 when his daughters commissioned the architectural and engineering firm of Reid & Reid to design a large hotel in Italian Renaissance style. The Reid br...
Rosewood Hotels & Resorts Partners With CTF Amsterdam for Rosewood Amsterdam
Rosewood Hotels & Resorts | October 15, 2020
HONG KONG, Oct. 15, 2020 - Rosewood Hotels & Resorts® has been appointed by CTF Amsterdam B.V. to manage Rosewood Amsterdam, which will open in 2023 as the ultra-luxury hospitality group's eleventh property in Europe and first in the Netherlands. Housed in the former Palace of Justice, a building of great architectural, historical and social significance that overlooks the Prinsengracht (the Prince's Canal), one of the city's most beautiful waterways, in the UNESCO World Heritage listed Amsterdam Canal District. The hotel will be ideally situated near many of Amsterdam's finest attractions including the museum district, the high-end s...
Valor Hospitality Partners Appoints Clarence Tan Principal Advisor of Asian Management Division
Valor Hospitality Partners | October 21, 2020
ATLANTA (October 21, 2020) - Valor Hospitality Partners, an award-winning hospitality management company, has named Clarence Tan as the principal and corporate advisor of Valor Asia, the organization’s Singapore and Thailand-based division. Tan joins Valor Hospitality with over 25 years of experience in hotel management, global leadership and senior management. In his new role, Tan will leverage his hospitality management experience, as well as his market knowledge, to support the growth of Valor’s Asian and Australasian portfolios. “We believe the opportunities for franchising in Asia are now more critical than ever, as owners and in...
Hospitality Financial Leadership: EFTEs, Productivity Measurements – Why Use Both
David Lund | October 19, 2020
By David Lund Most hotels measure payroll as a percentage of revenue or, as it is commonly referred to, labor cost percentage. This is not helpful. Why, you ask? Well, first of all, if sales magically increase because of an increase in the average room rate or average cover, your labor cost will automatically improve. Did anyone actually do anything better with the payroll? No. Or, if there is an increase in wages due to an outside force like the minimum wage increased, then your labor cost will suffer and did anyone actually do anything negative? No. So you see the limitations of labor cost percentage. Let me introduce the two differen...
Mission Pacific Hotel, A Joie de Vivre Hotel, and The Seabird Resort, A Destination Hotel, to Debut in Oceanside, California
S.D. Malkin Properties | October 8, 2020
CHICAGO (October 8, 2020) – Hyatt Hotels Corporation (NYSE: H) and Oceanside Beach Resort Owner LLC, an affiliate of S.D. Malkin Properties, proudly announce the naming of the new Mission Pacific Hotel and The Seabird Resort, both expected to open in Spring 2021 in Oceanside, Calif. The two adjacent hotels will be the newest and largest oceanfront resort development in San Diego County in more than half of a century, collectively spanning 700 feet of beachfront property. Along with immediate beach access, Mission Pacific Hotel and The Seabird Resort will offer guests a combined 387 guestrooms – most with water-facing views – as we...
The Ritz-Carlton, Paradise Valley Appoints Steven Szenasi as General Manager
Five Star Development | October 19, 2020
Paradise Valley, Ariz. (Oct. 19, 2020) – The Ritz-Carlton, Paradise Valley is pleased to announce that Mr. Steven Szenasi has been appointed general manager ahead of the resort’s late 2021 opening. As the first Ritz-Carlton to be built in North America in over a decade and the centerpiece of the $2 billion, 122-acre luxury master-planned development of The Palmeraie, The Ritz-Carlton, Paradise Valley is positioned to become a flagship property for The Ritz-Carlton brand. Szenasi brings with him exceptional expertise in luxury hotel operations as well as celebrated success across The Ritz-Carlton portfolio. “Steven is an exempl...
Consumer Survey Finds 70 Percent of Travelers Plan to Holiday in 2021
WTTC | October 14, 2020
Research provides data on issues industry needs to address to hasten recovery An overwhelming majority of US and Canadian travelers (99 percent) are eager to travel again, with 70 percent stating that they plan to take a holiday in 2021, according to a Travel Leaders Group survey of nearly 3,000 frequent travelers. The survey was conducted in September in conjunction with the World Travel & Tourism Council (WTTC), which represents the global Travel & Tourism private sector. Results indicate that 45 percent of respondents have already made plans or are starting to make finite plans for their next holiday, while 54 percent say the...
The Vinoy® Renaissance St. Petersburg Resort & Golf Club Names Tabish Siddiquie as General Manager
The Vinoy Renaissance St. Petersburg Resort and Golf Club | October 26, 2020
ST. PETERSBURG, FL – October 26, 2020 – The Vinoy Renaissance St. Petersburg Resort & Golf Club announces the hiring of Tabish Siddiquie as general manager. In his new role, Siddiquie will oversee daily operations for the historic 361-room resort while also serving as the primary strategic business leader of the property. As the resort’s general manager, Siddiquie will be responsible for all aspects of daily operations, including sales and revenue generation, marketing, guest and employee satisfaction, human resources, financial performance, and the membership club. Siddiquie will be actively involved in the St. Petersburg commu...
Loews Hotels & Co Appoints Three New Operations Leaders
Loews New Orleans Hotel | October 21, 2020
New York, NY (October 21, 2020) – Loews Hotels & Co announces the appointment of Patrick Barrett, general manager, Loews New Orleans Hotel, Younes Atallah, general manager, Loews Santa Monica Beach Hotel, and Reggie Dominique, managing director, Loews Hollywood Hotel. “At a time where the hospitality industry has seen a tremendous amount of uncertainty, due to the global pandemic, we at Loews Hotels & Co are thrilled to have three seasoned leaders join the team, overseeing our hotels in Hollywood, New Orleans and Santa Monica,” said John Cottrill, Chief Operating Officer, Loews Hotels & Co. “We welcome Reggie, Patrick a...
