Minor Hotels to Debut in Singapore With Avani Hotels & Resorts Lifestyle Brand
Avani Hotels & Resorts | September 3rd, 2024
Kimpton San Antonio Celebrates Its Topping Out on Schedule
Kimpton Hotels & Restaurants | July 20th, 2023
Missouri’s Joplin Hotel Begins $6 M, Full-Scale Renovation to Convert to DoubleTree by Hilton
Hotel Equities (HE) | December 22, 2015
A late April 2016 opening is planned for the hotel owned by Conor Acquisitions Group and managed by Hotel Equities. Atlanta, GA - December 22, 2015 - The Joplin Hotel began a $6 million, full-scale renovation process this week to convert the property to a DoubleTree by Hilton hotel. Conor Acquisitions Group, owner of the hotel, plans to reconfigure the guest rooms, meeting space and public areas of the five-story iconic hotel building on East Hammons Boulevard in central Joplin, Missouri. They anticipate a Grand Opening celebration in late April 2016. In June 2015, Conor tapped Atlanta-based Hotel Equities, their management partner, to ...
Hotel Equities Selected to Operate Fairfield Inn & Suites by Marriott to be Built in Terrell, Texas
Hotel Equities | December 21, 2015
Scenic Capital Advisors to break ground in Q2 2016 with a Q1 2017 opening planned. Atlanta, GA - December 21, 2015 - Atlanta-based Hotel Equities (www.hotelequities.com) recently announced its selection as the management firm for the new-build Fairfield Inn & Suites by Marriott at 351 Market Center Drive, Terrell, Texas. Located less than 30 miles east of Dallas, just off U.S. Route 80, the hotel is convenient for business travelers and tourists as well. "Expanding our management portfolio deeper into the heart of Texas is of significant importance to our firm," said Joe Reardon, Vice President of Marketing and Business D...
Hotel Equities Names Peter Conway Asst General Manager for the Residence Inn Miami Beach/Surfside
Hotel Equities | December 17, 2015
ATLANTA, GA (December 16, 2015) – Atlanta-based Hotel Equities (HE) named Peter Conway the Assistant General Manager for the $52 million Residence Inn by Marriott Miami Beach/Surfside, Florida. The unique, resort-style hotel with 175 suites is scheduled to open in March 2016. Hotel Equities has an ownership position in the project and manages the upscale property for their JV partner, Hotel Development Partners (HDP) of Atlanta. Mr. Conway reports directly to General Manager Sean McKeen to assist with pre-opening duties including sales and marketing and departmental hiring His ongoing responsibilities include overall management of...
Atlanta Leads All U.S. Markets in Transaction Volume
Lodging Econometrics | December 17, 2015
Dec. 17, 2015 - PORTSMOUTH, NH - Lodging Econometrics (LE) reports that Atlanta has had the most hotel sales of any U.S. market over the last three years. Atlanta logged 42 sales in 2013 with a reported selling price, 30 sales in 2014 and 25 sales through the third quarter of 2015. These 25 sales had an Average Selling Price Per Room (ASPR) of $74,446 and because Atlanta has a larger preponderance of mid-market hotels in its census mix, compared to many northern tier markets, it normally has a lower average selling price per room than the national average, said LE. ...
U.S. Hotel Construction Pipeline Posts Nine Straight Quarters of YOY Growth
Lodging Econometrics | December 11, 2015
Dec. 11, 2015 - PORTSMOUTH, NH - Lodging Econometrics reports that the U.S. Hotel Construction Pipeline has posted nine straight quarters of Year-Over-Year (YOY) growth and recorded increases of at least 10% YOY for the last five quarters. The Construction Pipeline is now at 4,055 Projects/503,935 Rooms, up 15% YOY by projects and 14% by rooms compared to a year ago. ...
BN Management and Hotel Equities Open New 123-Room Courtyard by Marriott in Gretna, Louisiana
Courtyard by Marriott | December 8, 2015
Gretna, Louisiana – December 8, 2015 – Courtyard by Marriott New Orleans Westbank/Gretna is scheduled to open its doors today. 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 5 Westbank Expressway, the 123-room hotel will operate as a Marriott franchise, owned by BN Management, LLC and managed by Hotel Equities of Atlanta, Georgia. Whether traveling for business or pleasure, the Courtyard New Orleans Westbank/Gretna offers guests convenient access to downtown...
Leeny Oberg to Succeed Retiring Carl Berquist as Chief Financial Officer for Marriott
Marriott International, Inc. | December 7, 2015
BETHESDA, Md., Dec. 7, 2015 -- Marriott International, Inc. (NASDAQ: MAR) announced today that Carl Berquist, Marriott's executive vice president and chief financial officer for the past seven years, will retire as CFO on December 31, 2015, remaining with the company as a special adviser through March 2016. Leeny Kelly Oberg, a 16-year Marriott veteran, and currently chief financial officer for The Ritz-Carlton Hotel Company, LLC, a wholly-owned subsidiary of Marriott, will become Marriott's chief financial officer on January 1, 2016, succeeding Mr. Berquist. Mr. Berquist's leadership has been instrumental in the company'...
Hotel Equities Celebrates Opening of Fairfield Inn & Suites by Marriott Buford, GA
Hotel Equities | December 3, 2015
Atlanta, GA–December 3, 2015 – Atlanta-based Hotel Equities recently held a Grand Opening and Ribbon Cutting for the 96-room Fairfield Inn & Suites by Marriott hotel at 1355 Mall of Georgia Boulevard in Buford, Georgia, just north of Atlanta. Lauren Cato serves as General Manager and Malinda Foster is Director of Sales. Hotel Equities has an ownership position in the hotel and helped direct the property's multi-million dollar conversion/renovation to the latest generation of Marriott's highly successful Fairfield Inn & Suites brand. Hotel Equities is also an investor in the Courtyard by Marriott Buford, located just ...
Lodging Econometrics Reports Hilton’s Hampton Inn & Suites Sales Transactions Lead All Brands
Lodging Econometrics | December 3, 2015
Dec. 3, 2015 - PORTSMOUTH, NH - Analysts at Lodging Econometrics report that there were 97 Hilton Hampton Inn & Suites sold through the third quarter of 2015, triple the number sold for all of 2014. Hampton Inn & Suites accounts for 45% of all Upper Midscale hotel sales for the first nine months of 2015 with an Average Selling Price Per Room (ASPR) of $117,253, well above the $104,516 average recorded for all Upper Midscale hotels. Hampton Inn & Suites also has 312 projects in the U.S. Hotel Construction Pipeline, representing 20% of all new construction in the Upper Midscale category. ...
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...
Hotel Equities Names Lee Smith as General Manager for Hyatt Place Savannah Airport in Georgia
Hotel Equities (HE) | November 30, 2015
An engaged innkeeper with nearly 20 years of hospitality experience, Mr. Smith creates memorable experiences for his guests. Atlanta, GA - November 30, 2015 - Atlanta-based Hotel Equities announced the hiring of Lee Smith as the General Manager of the Hyatt Place Savannah Airport hotel located at 4 Stephen S. Green Drive in Savannah, Georgia. Mr. Smith has responsibility for overseeing the management of all operations at the hotel including food & beverage concepts plus sales, marketing and revenue management strategies. The all-suites hotel is conveniently located only two miles from the Savannah Hilton Head International Airport ...
Marriott Accounts for Almost Half of all Upscale Hotel Sales Reports Lodging Econometrics
Lodging Econometrics | November 25, 2015
Nov. 25, 2015 - PORTSMOUTH, NH - Through Q3 2015, the research and analysis department at Lodging Econometrics has tracked the sale of 227 Upscale hotel sales with a reported selling price in the United States and found that Marriott branded properties accounts for 49% of them. Under the Marriott umbrella there were 51 Residence Inns sold, 44 Courtyards and 17 Springhill Suites. Residence Inns had the highest Average Selling Price Per Room (ASPR) of Marriott's Upscale brands at $148,738, compared to an overall Upscale ASPR of $137,583. ...
Hotel Transactions Trending Toward an 8-Year High
Lodging Econometrics | November 23, 2015
Nov. 23, 2015 - PORTSMOUTH, NH - Lodging Econometrics noted that through the third quarter of 2015 there were a reported 1,175 individual hotel and portfolio transactions (excluding merger & acquisition activity) in the U.S. compared to 1,018 in 2014. It means that the number of transactions in 2015 are likely to close at an eight-year high, but the final count will still be approximately 25% lower than the peak established in 2007. ...
IHG Appoints Jonathan Lund Regional Vice President, Canada Franchise Performance Support
IHG | November 18, 2015
TORONTO – InterContinental Hotels Group (IHG), one of the world's leading hotel companies, announces the appointment of Jonathan Lund as Regional Vice President, Canada Franchise Performance Support. In this role, Jonathan oversees the operations of IHG's 165 franchised hotels across Canada to deliver exceptional results for owners. Jolyon Bulley, Chief Operating Officer, The Americas, IHG said: "We are delighted to welcome Jonathan to IHG. With his 30-plus years of experience in the hospitality industry, including 20 years working at IHG-managed hotels, Jonathan is well positioned to help our franchised hotels continue to succeed...
Haiti’s Habitation Jouissant to Undergo Renovation & Conversion to Marriott’s Autograph Collection
Autograph Collection Hotels | November 18, 2015
Global Lifestyle Brand to Transform Historic Residence into New Hotel Cap-Hatien, Haiti – November 18, 2015 – Autograph Collection Hotels, Marriott International's exclusive portfolio of properties recognized for celebrating individuality, will add The Habitation Jouissant – a boutique hotel located in Cap-Hatien, Haiti – to its impressive global portfolio in the fourth quarter of 2017. The property, located in Haiti's second largest city and situated on the country's northern coast, will be Autograph Collection's third hotel in the Caribbean and will proudly serve as Marriott International's second property in H...
Massport Issues RFQ for the Summer Street Development Project in the Seaport District of Boston, MA
Massport | November 12, 2015
Massachusetts Port Authority (Massport) seeks to qualify developers with exceptional experience and capability to develop a signature mixed-use commercial development project on a Massport-owned parcel in the South Boston Waterfront District. The Summer Street Development Project, located on Summer Street in Boston's vibrant Seaport District, must include a hotel of 250 rooms or more, street‐level retail opportunities, and a mixed-use development program which fully maximizes the development potential of the site at an appropriate development density. In addition to the required hotel, Massport seeks other complementary, non-hotel use...
Hotel Equities to Manage Hampton Inn by Hilton in Panama City, Florida
Hotel Equities | November 12, 2015
Atlanta, GA–November 12, 2015 – Atlanta-based Hotel Equities announced its selection as the management company for the Hampton Inn by Hilton in Panama City, Florida. Conveniently located near the Panama City Mall, the hotel is situated in the heart of the business district at 2338 Mercedes Avenue within minutes of some of the world's most beautiful beaches in Panama City Beach, Florida. With this addition in Panama City, Hotel Equities expands its portfolio of over 10 hotels in the Florida panhandle. "Florida is an important state for us and we've been fortunate to achieve strong growth in the panhandle area with additional ...
IHG Issues Statement Regarding Press Speculation on Potential Sale or Merger
IHG | November 6, 2015
Following recent market speculation, the Board of Directors of IHG states that it is not considering a potential sale or merger of the company. ...
Above All Development and Hotel Equities Open New Home2 Suites by Hilton St. Louis
Hotel Equities | November 4, 2015
Atlanta, GA–November 4, 2015 – Atlanta-based Hotel Equities recently held a Grand Opening and Ribbon Cutting for the new 106-room Home2 Suites by Hilton hotel in St. Louis/Forest Park, Missouri. Hotel Equities serves as the management company for the hotel with Amanda Michael as General Manager and Carron Bean as Director of Sales. It is the first Home2 Suites by Hilton in Missouri. The Above All Development group of St. Louis, Missouri developed the property at 920 South Taylor Avenue, in the Forest Park Southeast neighborhood. Principals of the Above All Development group include Stan McCurdy, Bryan Aston, Jeff McCurdy and...
Q3 2015 Financial Reports Round Up: Marriott, MGM, Host, & Hersha
October 29, 2015
Marriott International Reports Third Quarter 2015 Net Income of $210 million, a 9% Increase Over 2014 Third Quarter Income. Systemwide RevPAR Rose 4.5% in the Third Quarter. HIGHLIGHTS Third quarter diluted EPS totaled $0.78, a 20 percent increase over prior year results; On a constant dollar basis, worldwide comparable systemwide RevPAR rose 4.5 percent in the third quarter; North American comparable systemwide constant dollar RevPAR rose 4.2 percent in the third quarter; Marriott repurchased 9.8 million shares of the company's common stock for $702 million during the third quarter. Year-to-date through October 28, the company...
Q3 2015 Financial Reports Round Up: Hilton and Starwood
October 28, 2015
Hilton Worldwide reports third quarter 2015 net income of $279 million, an increase of $96 million from the same period in 2014. System-wide comparable RevPAR increased 5.8 percent. Highlights include: EPS, adjusted for special items, for the third quarter was $0.23, a 28 percent increase from the same period in 2014; without adjustments, EPS was $0.28 Net income attributable to Hilton stockholders for the third quarter was $279 million, an increase of $96 million from the same period in 2014 Adjusted EBITDA for the third quarter increased 13 percent from the same period in 2014 to $758 million, and Adjusted EBITDA margin increased ...
New York City #1 Reports Lodging Econometrics
Lodging Econometrics | October 22, 2015
OCT. 22, 2015 - PORTSMOUTH, NH Lodging Econometrics reports that New York City continues to have the largest construction Pipeline of any market in the world with 210 Projects/33,875 Rooms. New York is forecast to open a total of 38 hotels with 5,505 rooms in 2015. The city will have twice as many hotel openings this year than any other market in the U.S. but, interestingly, fewer openings than at least seven markets in China. According to the current forecast, New York is scheduled to open another 59 hotels and 7,986 rooms in 2016 and in 2017 is predicted to open 39 hotels with 6,527 rooms. ...
InterContinental Hotels Group Reports Third Quarter Interim Management Statement
IHG | October 20, 2015
Highlights Global Q3 comparable RevPAR up 4.8%1, led by rate up 3.6%. Expanded our global scale: net system size of 727k rooms, up 4.3% year on year (2.7% excluding Kimpton); 16k rooms signed into our 218k room pipeline, highest Q3 hotel signings since 2008. Strengthened the position of our preferred brands, in particular opening more Holiday Inn rooms in the period than ever before. Completed the sale of InterContinental Hong Kong, for proceeds of $929m2. Richard Solomons, Chief Executive of InterContinental Hotels Group PLC, said: "We delivered strong RevPAR growth of 4.8% in the third quarter, driven by rate up 3.6%, and conti...
China Pipeline Posts Modest Growth According to Lodging Econometrics
Lodging Econometrics | October 15, 2015
OCT. 15, 2015 - PORTSMOUTH, NH Lodging Econometrics reports that growth of the China Hotel Construction Pipeline, at 2,591 Projects/538,268 Rooms, is up modestly from a year ago, 10% by projects and 5% by rooms. The slowdown in its manufacturing industries, coupled with a falloff in real estate and infrastructure construction, has tempered pipeline growth and is likely to continue doing so in the immediate future. ...
