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Hotel Equities Promotes Joe Reardon to Senior Vice President of Marketing and Business Development
Hotel Equities | May 19, 2015
ATLANTA, GA (May 19, 2015) - Atlanta-based Hotel Equities (HE) www.hotelequities.com recently promoted Joe Reardon to the position of Senior Vice President of Marketing and Business Development Mr. Reardon leads the development team in evaluating market studies, analyzing feasibility and reviewing third party and acquisition opportunities. His responsibilities include working with all major brand development teams in addition to his work with existing and new owners to identify the best use for land acquisitions and for repositioning opportunities. Hotel Equities now has responsibility for 90 hotels in its 14-state portfolio with repres...
IHG Expands Middle East Presence across Three Countries
IHG | May 13, 2015
Signings include second Hotel Indigo in Dubai and double deal in Kuwait New Delhi, India 13 May 2015: InterContinental Hotels Group (IHG) announced four new signings across four brands last week, marking its continuous expansion across the Middle East: InterContinental, Crowne Plaza, Holiday Inn and Hotel Indigo. The signings will see the hotel company grow its presence by about 600 rooms across the UAE, Kuwait and Saudi Arabia over the next three to five years. UAE Together with leading real estate developers Diamond Developers, IHG will open the second Hotel Indigo in the UAE. Due to open in 2017, the 170-room Hotel Indigo Dubai The ...
Octagon Hotels & East Bay Management Co. Unveil Holiday Inn Resort® Montego Bay’s $15M Renovation
May 13, 2015
ATLANTA – InterContinental Hotels Group (IHG), one of the world's leading hotel companies, today announces that the 518-room Holiday Inn Resort® Montego Bay hotel has completed a $15 million renovation funded by ownership. The resort now features fully updated guest rooms, an ocean-view lobby with an open design and four restaurants offering a variety of cuisines including seafood, Japanese, Caribbean and Italian. Heather Balsley, Senior Vice President, Americas Brand Management, IHG said: "With locations around the world, the Holiday Inn brand plays a role in millions of guest journeys – for both business and fun – every year. A...
Liberty University and Hotel Equities to Open Fairfield Inn & Suites by Marriott in Lynchburg, VA
Fairfield Inn & Suites | May 12, 2015
Lynchburg, Virginia - May 12, 2015 - The 129-room Fairfield Inn & Suites by Marriott in Lynchburg, Virginia is scheduled to open this Monday, May 18, 2015. Located at 3777 Candlers Mountain Road, the former Wingate by Wyndham will operate as a Marriott franchise, owned by Liberty University and managed by Hotel Equities of Atlanta, Georgia. Overlooking the campus of Liberty University and 15 minutes from downtown Lynchburg, the hotel offers guests convenient access to Liberty Mountain Snowflex, Thomas Jefferson's Poplar Forest and River Ridge Mall. "We are pleased to introduce Fairfield Inn & Suites hotels in the Lynchburg area,...
IHG and Dur Hospitality Company to Open First Holiday Inn in Tabuk Later This Year
IHG (InterContinental Hotels Group) | May 6, 2015
Dubai, United Arab Emirates, 6 May 2015: At the Arabian Hotel Investment Conference (AHIC) today InterContinental Hotels Group (IHG) announced the signing of a franchise agreement for the first Holiday Inn in Tabuk with Dur Hospitality Company (formerly Saudi Hotels and Resort Co or SHARACO). The 83-room Holiday Inn Tabuk is the first hotel to be developed under the master development agreement (MDA) inked between IHG and DUR Hospitality Company last year. The MDA will see a number of Holiday Inn hotels developed across KSA over the next five years, significantly enhancing the brand's footprint in the Kingdom. Located on Prince Fahed Bi...
Hotel Equities and Owners, Scenic Capital Advisors, Break Ground for Marriott Hotel in Texas
Hotel Equities | May 6, 2015
Atlanta, GA–May 6, 2015 – Atlanta-based Hotel Equities (www.hotelequities.com) and owners Thomas and Michael Chen of Scenic Capital Advisors recently broke ground for a Fairfield Inn & Suites by Marriott in Waxahachie, Texas. The hotel is located at 2020 Civic Center Ln., the intersection of Interstate 35 E and Highway 287, just 30 minutes south of Dallas, Texas. Expected to open in early summer 2016, the hotel will sit beside the Waxahachie Civic Center, site of numerous events and meetings, and across from the newly completed Baylor Scott & White Hospital. On hand for the ceremony were Brad Rahinsky, President & COO, H...
Adyar Gate Hotels & IHG Sign New 286-room Crowne Plaza Chennai Adyar Park in Chennai, India
IHG | May 6, 2015
Delhi, India, 6 May 2015: InterContinental Hotels Group (IHG), one of world's leading hotel companies, today announced the signing of the 286-room Crowne Plaza Chennai Adyar Park with Adyar Gate Hotels Limited. The hotel, which IHG is now managing, will be rebranded as Crowne Plaza Chennai Adyar Park, marking the entry of the company's Crowne Plaza brand into the key Indian city. The hotel joins Holiday Inn Express Chennai Mahindra World City, making it the second IHG hotel in Chennai. Located in the city's central business district and taking the site of the existing Sheraton Park Chennai, the hotel bears additional significance for IH...
Dorma and Kaba Announce Merger Plans
Hotel Equities (HE) | May 5, 2015
dorma+kaba to become one of the global top 3 companies in the security and access solutions market, with pro-forma sales exceeding CHF 2 billion (EUR 1.9 billion) Leading product and services offering from a single source thanks to complementary portfolios, value chain and geographic footprint in all key markets Excellent growth opportunities and significant synergy potential to create substantial added value for Kaba shareholders; planned special dividend of CHF 50 per share Dorma owner family to increase its entrepreneurial commitment by acquiring 9.1% stake in Kaba and together with Kaba family shareholders to form strong, long-t...
Hotel Equities Chosen to Lead Premier Hospitality’s Portfolio of 21 Hotels in Texas and Oklahoma
Hotel Equities | April 29, 2015
Atlanta, GA - April 29, 2015 - Hotel Equities recently announced its selection as the management firm for a portfolio of 21 hotels located in Texas and Oklahoma. The portfolio is owned by Premier Hospitality Management, Inc. Hotel Equities assumes management on May 1, 2015, taking its overall portfolio to 90 hotels in 14 states. Raj Patel serves as President and CEO of Premier, a firm he founded 23 years ago. Premier's portfolio features nine hotel brands and two independent full service hotels totaling 2,166 guest rooms. The portfolio is represented with premium brands such as Marriott, Hilton and IHG. "We're excited to announce the pa...
IHG and Amadeus Partner to Develop a Next-Generation Guest Reservation System (GRS)
IHG (InterContinental Hotels Group) | April 29, 2015
Will Use a New Cloud-Based Community Model to Ultimately Replace HOLIDEX, IHG's Proprietary Reservation System Wednesday 29th April 2015, London: InterContinental Hotels Group ("IHG") today announces that it is to continue its strategic relationship with Amadeus, the world's leading provider of advanced technology solutions for the global travel industry. Together, IHG and Amadeus will develop a next-generation Guest Reservation System (GRS) that will revolutionise the technological foundations of the global hospitality industry. Amadeus will use a new cloud-based community model, a first in the hotel sector, and similar to the model it...
Hotel Equities Selected to Operate New Fairfield Inn & Suites in West Monroe, Louisiana
Hotel Equities | April 21, 2015
Atlanta, GA–April 20, 2015 – Atlanta-based Hotel Equities (www.hotelequities.com) recently announced its selection as the management firm for the Fairfield Inn & Suites by Marriott under development in West Monroe, Louisiana. The hotel will break ground in the summer of 2015. Expected to open in the third quarter 2016, the hotel will be located near numerous corporate offices, as well as the University of Louisiana-Monroe and the Ike Hamilton Expo Center, the area's number one tourist attraction and an important economic engine in the region. "We are excited to continue our growth in Louisiana with this entrepreneurial ownership...
Hotel Development in Three Phases
Larry Mogelonsky | April 15, 2015
By Larry Mogelonsky, MBA, P. Eng. (www.lma.ca) Of late, our agency has been involved in several new property developments. All are coming along quite successfully and appear to be on track to meet their launch dates. To put it bluntly, the process of initiating a new property is not for the faint of heart. Far from it. It takes an excruciating toll from all those involved in the process. Many have asked me if there is a formula for success, to which I reply with a simple-yet-pervasive, three-part answer. 1. Vision It starts with a vision from the developer - what they hope to deliver to the marketplace. For a hotel/resort this includes ...
Hotel Development Partners Acquires Portfolio of 7 Marriott-branded Hotels; 6 Located in Atlanta, GA
Hotel Development Partners | April 14, 2015
ATLANTA, GA (April 14, 2015) - Atlanta-based Hotel Development Partners (HDP) recently announced the addition of seven select-service Marriott hotels to its growing portfolio of properties. HDP purchased the properties from Houston-based Moody National for Atlanta-based Hotel Equities will continue to manage all seven hotels through its JV partnership with HDP. With well-established performance records and excellent locations in their various metro markets, the hotels bring financial success and award-winning customer service with the deal. The hotels included in the purchase are: Fairfield Inn & Suites, Alpharetta, Fairfield Inn &a...
IHG Appoints Jorge Apaez as Chief Operating Officer, Mexico, Latin America & The Caribbean
IHG (InterContinental Hotels Group) | April 9, 2015
MIAMI AND ATLANTA – InterContinental Hotels Group (IHG), one of the world's leading hotel companies, announces the appointment of Jorge Apaez as Chief Operating Officer, Mexico, Latin America & The Caribbean. Jorge assumes this role after the retirement of industry veteran Alvaro Diago. Jorge will oversee operations for the 220 hotels under six different brands across 21 countries in the region as well as relationships with the owning companies of IHG's managed and franchised hotels. He will report to the Americas Chief Operating Officer, Jolyon Bulley, and will be based in IHG's Guadalajara corporate office. Elie Maalouf, Chief E...
Florida’s 400-room Hilton West Palm Beach Celebrates Topping Out
Hilton Hotels & Resorts | April 7, 2015
L to R: Bruce Warwick, Vice Chairman Related Companies; Gopal Rajegowda Vice President of Development Related Companies, Stephen Ross, Chairman and Founder Related Companies, Ted Ratcliff, Senior Vice President Operations Eastern North America, Hilton Worldwide; Leslie A. Pchola, Area Vice President, Hilton Worldwide; Luis Lamar, Regional Vice President Sales & Marketing, Hilton Worldwide, Edd Karlan, Director of Sales & Marketing for Hilton West Palm Beach and David Harrison, Vice President of Design & Construction Related Companies. MIAMI - April 7, 2015 - Related Companies, Coastal Construction, Hilton Worldwide executiv...
Hotel Equities Selected to Operate a One-of-a-Kind SpringHill Suites in Northwest Houston
Hotel Equities (HE) | March 25, 2015
Atlanta, GA – March 25, 2015 – Atlanta-based Hotel Equities (www.hotelequities.com) recently announced it was chosen as the management firm for a one-of-a-kind SpringHill Suites by Marriott under construction in Northwest Houston, Texas. Set to open in summer 2015, the hotel is Hotel Equities' fourth Marriott-branded property in the state. The hotel is located on the Northwest Freeway in Houston's growing medical and business corridor. Unique to the SpringHill brand, the hotel features 4,500 square feet of meeting space plus an additional 1,500 square feet of pre-function space to accommodate the strong conference demand in the mark...
Equity Funds Were the Most Active Investors in Hotels in the U.S. During 2014 at $7.4 Billion
Lodging Econometrics | March 12, 2015
MARCH 13, 2015 - PORTSMOUTH, NH - Lodging Econometrics reports that for hotels with a reported selling price, investment totaled $22 billion in the United States. Equity funds were the most active investors in 2014 adding $7.4 billion in hotels, most of which were portfolio purchases. Publicly traded REITs were the next biggest acquirers. They invested $6.4 billion, primarily focusing on high-profile single assets divested by privately held hotel companies. Although on balance they were net-sellers in 2014, privately held hotel companies were also significant buyers, investing $4.4 billion, mostly in single assets and smaller portfolios...
IHG Appoints Sandi Macfie to Newly Created Role of Director, Hotel Performance Support for Africa
IHG (InterContinental Hotels Group) | March 10, 2015
10 March, 2015 - InterContinental Hotels Group (IHG), one of the world's leading hotel companies, announces the appointment of Sandi Macfie to the newly created role of Director, Hotel Performance Support for Africa. Based in Johannesburg, Sandi will lead the operations and performance of IHG's 17 franchised hotels across six countries in Africa. A native South African by birth, Sandi joins IHG with 30 years of extensive experience across the hospitality, finance and technology industries. She was most recently Group Director of Revenue in Tsogo Sun Hotels, during which time her background in information technology also put her in good ...
Hotel Equities to Manage New, Under Development, Fairfield Inn & Suites Waxahachie/South Dallas
Hotel Equities | March 9, 2015
Atlanta, GA–March 9, 2015 – Atlanta-based Hotel Equities (www.hotelequities.com) recently announced its selection as the management firm for the Fairfield Inn & Suites by Marriott under development in Waxahachie, Texas. Set to break ground in April 2015, the hotel will be located at 2020 Civic Center Ln., the intersection of Interstate 35 E and Highway 287, just 30 minutes south of Dallas, Texas. Expected to open in March 2016, the hotel will sit beside the Waxahachie Civic Center, site of numerous events and meetings, and across from the newly completed Baylor Scott & White Hospital. "Expanding our management portfolio deep...
Hotel Investment Tops $30 Billion in 2014; Average Per Room Cost was $156,002, up 20.6% YOY
Lodging Econometrics | March 9, 2015
MARCH 9, 2015 - PORTSMOUTH, NH - Lodging Econometrics reports that In 2014 total investment in the lodging industry was an estimated $30.8 billion. Of the 1,292 hotels that were transacted 935 reported a selling price into the public domain. The average selling price per room for those hotels was $156,002, up a dramatic 20.6% Year-Over-Year (YOY). The healthy increase in selling prices is due to record-setting hotel revenues and profits, low interest rates and the availability of attractive financing terms. LE foresees selling prices continuing to accelerate for the next several years as hotel performance continues to shine in the abse...
Following 2011’s 75% Decline in New Hotel Openings, Trend Expected to Break by End of Decade Says LE
Lodging Econometrics | March 5, 2015
MARCH 5, 2015 - PORTSMOUTH, NH - Lodging Econometrics reported that new hotel supply growth bottomed in 2011 with the opening of only 347 Hotels/37,404 Rooms. The bottom in 2011 concluded a precipitous 75% decline in New Hotel Openings from a peak of 1,341 Hotels/154,257 Rooms established in 2008 at the onset of the Great Recession. Since then, new supply growth has been slow and incremental. New Hotel Openings were a paltry 412 in 2012, 488 in 2013 and 557 hotels with 63,352 rooms in 2014. LE forecasts that just 726 new hotels will open in 2015 and 797 hotels in 2016. The sharpness of the decline and the prolonged nature of the econom...
Interstar and IHG Enter Multiple Development Agreement for 10 Hotels in Germany
IHG (InterContinental Hotels Group) | March 4, 2015
4 March, 2015 - InterContinental Hotels Group (IHG®), one of the world's leading hotel companies, has announced the signing of its latest multiple development agreement (MDA) to develop 10 hotels in Germany by 2019 with first time franchisee for the company, Interstar. IHG's growth strategy continues to gain momentum in Germany with over 85 hotels currently either open or planned under MDA agreements. The agreement enables Interstar to develop hotels across two of IHG's brands – Holiday Inn® and Holiday Inn Express®. The 10 hotels will add approximately 1,700 rooms when signed to Germany's current development pipeline of close to 4...
US Pipeline Breakout is Accelerating Reports Lodging Econometrics
Lodging Econometrics | March 3, 2015
MARCH 3, 2014 - PORTSMOUTH, NH - Lodging Econometrics reports that with 3,645 Projects/460,551 Rooms the 2014 Total US Construction Pipeline stands at its highest level in six years. After a three-year bottoming formation, the Pipeline has now posted five consecutive quarters of double-digit Year-Over-Year (YOY) growth. In both the third and fourth quarters increases were particularly impressive, exceeding 20%. Although the breakout might appear robust, Pipeline totals are still a long way from the peak of 5,438 Projects/718,387 Rooms set in 2007. Projects Under Construction, the most important predictor of near-term supply growth, has...
Hotel Equities Names Sean McKeen General Manager for New Residence Inn Miami Beach-Surfside
Hotel Equities | February 26, 2015
Atlanta, GA – February 26, 2015 – Atlanta-based Hotel Equities (www.hotelequities.com) announced the hiring of Sean McKeen as the General Manager of the new Residence Inn by Marriott Miami Beach-Surfside. The $52 million resort-style hotel recently topped out at 92nd Street and Collins Avenue in the Surfside area of Miami Beach. Hotel Equities who has an ownership position in the project is also managing the 175-room upscale property for their JV partner Hotel Development Partners (HDP) of Atlanta. "Hotel Equities is delighted to introduce Residence Inn by Marriott to the Miami Beach market," said Brad Rahinsky, President and COO of...
