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Lodging Real Estate Trends: Lodging Econometrics Reports Asia Pacific Pipeline Dominated By China
Lodging Econometrics | September 26, 2014
At Q2 2014 the Total Construction Pipeline stood at 3,674 Projects/ 757,207 Rooms. A very high seventy-eight percent of the Pipeline, 2,791 Projects/ 567,409 Rooms, is presently Under Construction. There are just 369 Projects/ 81,901 Rooms Scheduled to Start in the Next 12 Months and 514 Projects/ 107,897 Rooms in Early Planning. China has the largest Pipeline in the world by guest room count. With 2,409 Projects/ 521,452 Rooms it also has nearly two thirds of all Construction Projects in Asia. China is trailed at a distance by India with 370 Projects/ 54,815 Rooms and Indonesia with 338 Projects/ 52,495 Rooms. Respectively, they are r...
Hotel Equities Names Stacey Morgan as Corporate Revenue Manager
Hotel Equities (HE) | September 23, 2014
ATLANTA, GA - September 24, 2014 - Hotel Equities (HE), an Atlanta-based hotel management, ownership and development company, recently named Stacey Morgan the Corporate Revenue Manager. Ms. Morgan will assume responsibility for setting the day-to-day sales strategy for a portfolio of hotels to maximize revenues and profitability. She will also assist in the training and development of the hotels' revenue teams using a variety of new tools such as social media as the discipline of revenue management becomes more and more complex. Stacey is a highly-skilled financial professional who understands the importance of revenue management to the...
Value Place Appoints Kelly Poling as Executive Vice President and Chief Marketing Officer
Hotel Equities (HE) | September 22, 2014
September 22, 2014 - WICHITA, Kan. - Value Place, the largest economy, extended-stay hotel brand in the U.S., has named Kelly Poling as Executive Vice President and Chief Marketing Officer. As the leader of Value Place's brand, marketing, and distribution strategies, Ms. Poling will be focused on strengthening the positioning of the brand and driving more guests to its hotels across the country. "It's an amazing time to be joining Value Place," said Poling. "The Company has such a strong foundation and growth trajectory. I'm looking forward to furthering the value proposition for both guests and hotel owners with an additional focus on ...
Beam Me Up Scotty – Marriott Unveils 4-D Virtual Travel Experience Teleporting Guests Worldwide
Marriott Hotels | September 18, 2014
BETHESDA, Md., Sept. 18, 2014 -- In its journey to explore the future of travel, Marriott Hotels is taking an unprecedented leap into virtual reality by teleporting travelers to the beaches of Hawaii and downtown London. The brand partnered with Academy Award-winning Framestore to create Marriott Hotel's virtual travel experience, giving consumers a fully immersive, 4-D sensory experience based in Oculus Rift technology. An industry pioneer, Marriott Hotels is embracing innovative technologies to redefine the future of travel for generations to come. And now, travel enthusiasts can see, hear and feel what it's like to be in destinations...
Hotel Equities Assumes Management of 77-room Fairfield Inn & Suites by Marriott Marianna in Florida
Hotel Equities (HE) | September 17, 2014
Atlanta, GA-September 17, 2014 - Atlanta-based Hotel Equities (www.hotelequities.com) recently assumed management of the 77-room Fairfield Inn & Suites by Marriott hotel in Marianna, Florida. "Growing our management portfolio in Florida is both significant and exciting for our firm," said Joe Reardon, Vice President of Marketing and Business Development for Hotel Equities. "We're pleased to create additional opportunities for our associates and a strong partnership with the ownership group. We will begin a renovation on this six-year-old property to continue to ensure our guests the best level of service and quality they've come to ...
Hotel Development Partners Names Robert J. McCarthy as Chairman
Hotel Development Partners (HDP) | September 10, 2014
ATLANTA, GA (September 10, 2014) - Atlanta-based Hotel Development Partners (HDP) recently welcomed Robert J. "Bob" McCarthy to the firm as Chairman. As chairman of the firm's executive board, Mr. McCarthy serves as a driving force in setting forward the strategy for the growth of HDP. His experience in all markets and his strong brand knowledge highlight his ability to lead HDP's expanding portfolio with a focus on Marriott-branded hotels. HDP's active development projects include new Residence Inns in both Miami Beach/Surfside and Dunwoody/Atlanta Perimeter Center as well as the Hampton Inn & Suites Dunwoody/Perimeter Center. More...
Europe’s Construction Pipeline Sluggish as Development in the Middle East Picks Up
Lodging Econometrics | September 4, 2014
At the end of Q2 Europe's Construction Pipeline stood at 807 Projects/ 132,187 Rooms, a scant Year-Over-Year (YOY) increase of 8% by Projects and 1% by Rooms. Overall Pipeline growth has been lackluster since the cyclical bottom established in 2010. Both Projects Under Construction and Annualized Construction Starts experienced a brief peak in Q3 2012 when projects previously stalled in the Pipeline during the Great Recession migrated forward towards construction as lending first became available. However, since that peak, both metrics have trended downward for seven consecutive quarters. Pipeline growth is in the Scheduled to Start in ...
HDP to Develop Mixed-Use Project with 132-key Hampton Inn & Suites Dunwoody/Perimeter Center in GA
Hotel Equities (HE) | September 3, 2014
To Be Managed by Hotel Equities ATLANTA, Ga. - (September 3, 2014) - Hotel Development Partners (HDP) announced the acquisition of a prime hotel site on Ashford Dunwoody Road near Perimeter Mall for the development of the 132-room Hampton Inn & Suites, which will be the latest urban prototype for this Hilton hotel brand. The reuse of the 3.6 acre former parking field at the Sterling Pointe office complex will create a desirable urban setting for the hotel and 25,600 SF of restaurants and retail. Corner Bakery marks the first of two restaurants to be included in the project that provides a unique destination and experience for the Pe...
IHG Appoints Jolyon Bulley as Chief Operating Officer for the Americas
IHG (InterContinental Hotels Group) | August 20, 2014
20 August, 2014 - ATLANTA, GA – InterContinental Hotels Group (IHG), one of the world's leading hotel companies, announces the appointment of Jolyon Bulley to the position of Americas Chief Operating Officer (COO). Jolyon will be responsible for leading the operations for IHG's portfolio of more than 3,600 hotels, as well as further strengthening IHG's existing franchisee relationships and developing new ones. He also will serve on the Americas Regional Executive Committee and be based at IHG's regional headquarters in Atlanta, Georgia. Jolyon is an experienced hotelier with over 30 years in the hospitality industry, and first started...
Hotel Equities Breaks Ground on 92-rooom Residence Inn by Marriott Lake Charles, LA
Hotel Equities | August 19, 2014
Atlanta, GA-August 19, 2014 - Atlanta-based Hotel Equities (www.hotelequities.com) broke ground recently on the 92-room Residence Inn by Marriott in Lake Charles, Louisiana. The new-build hotel will be located at1591 West Prien Road, beside the SpringHill Suites by Marriott, also managed by Hotel Equities. "We are happy to add a second property to our successful operation of the SpringHill Suites in the vibrant and growing Lake Charles market," said Joe Reardon, Vice President of Business Development for HE. "We are pleased to work with an ownership group who has such an entrepreneurial vision and a commitment to building another great ...
US Pipeline Posts Double-Digit YOY Gains for 3rd Consecutive Quarter Reports Lodging Econometrics
Lodging Econometrics | August 18, 2014
The Construction Pipeline continued its upward momentum in Q2 14, posting a double-digit gain Year-Over-Year (YOY) for the third consecutive quarter. At Q2 14 the Pipeline stands at 3,311 Projects/ 421,387 Rooms, an increase of 17% by Projects and 20% by Rooms YOY. The Pipeline has been increasing for the past nine quarters off the bottom established in Q1 2012. Projects Under Construction are on a 12-quarter uptrend and are up a strong 50% by projects and 55% by rooms YOY. Increasing for eight quarters, projects Scheduled to Start Construction in the Next 12 Months are showing an increase of 21% by projects and 25% by rooms YOY and st...
Marriott Expanding Mobile Check-in and Checkout Services to Ten Additional Brands
Marriott International | August 12, 2014
BETHESDA, Md., Aug. 12, 2014 -- As part of its global mobile strategy, Marriott International, Inc. (NASDAQ:MAR) is announcing a significant expansion of the company's popular mobile check-in and checkout feature. Now, ten additional brands – The Ritz-Carlton, JW Marriott Hotels & Resorts, Renaissance Hotels, Autograph Collection, Courtyard, SpringHill Suites, Fairfield Inn & Suites, Residence Inn, TownePlace Suites and Marriott Executive Apartments* – are joining the nearly 500 properties of the company's flagship Marriott Hotels brand in providing mobile check-in and checkout to guests. With these latest additions, these s...
Total Simulator Company Wins ICHRIE 2014 Industry Recognition Award
The Total Simulator Company | August 11, 2014
At the 2014 ICHRIE (International Council on Hotel, Restaurant & Institutional Education) Awards Ceremony in San Diego, The Total Simulator Company (TSC) was presented with the prestigious Industry Recognition Award. TSC produce industry leading simulation programs for the hospitality, restaurant and tourism industries. These simulations are licensed for educational use and also used to deliver industry training and events. TSC have developed the industry leading, HOTS hotel simulation program, which is used to teach hospitality students and industry professionals about hotel operations, revenue management, marketing, finance & ...
Hotel Equities Names Bert Haifley General Manager at Courtyard by Marriott Mall of Georgia
Hotel Equities | August 8, 2014
ATLANTA (August 8, 2014) - Atlanta-based Hotel Equities (HE) recently promoted Bert Haifley to the position of General Manager of the Courtyard by Marriott at the Mall of Georgia, north of Atlanta. He previously served as Task Force Manager across a number of brands in the firm's portfolio. As General Manager at one of the firm's key properties, Mr. Haifley has responsibility for the overall operation of the hotel including hiring, training and all of the metrics required to assure its success. "Bert has served in a variety of leadership positions across several key brands for our firm and he brings a wealth of experience to his new rol...
IHG Reports 2014 Half Year Results
IHG | August 5, 2014
Richard Solomons, Chief Executive of InterContinental Hotels Group PLC, said: "We have achieved a strong first half performance, with our preferred brands continuing to drive good momentum through the second quarter. With underlying operating profit2 up 6% and solid net system growth, our long-term winning strategy is delivering results. This has given us the confidence to increase the interim dividend by 9%. We have had our best half for signings4 in six years, underpinning our future growth prospects and demonstrating owners' preference for our brands. Openings included the first two EVEN Hotels in the US, a major milestone for this...
Twenty Four Seven Hotels Awarded California Management Contracts
Twenty Four Seven Hotels | August 4, 2014
Twenty Four Seven Hotels ("24-7 Hotels") a western regional hotel management company recently added two new contracts to its growing portfolio giving them eleven managed hotels totaling just under 1,500 rooms. The new additions in the last thirty days include the 100-room Comfort Suites in Ontario, CA, and the 139-room TownePlace Suites by Marriott in Anaheim, CA. Both hotels will be managed on behalf of the same investment group. "We began a relationship with this ownership group over a year ago and recently we've added two additional management contracts with the same owner" said David Wani, CEO of Twenty Four Seven Hotels. "When our ...
Hotel Equities Re-Opens the Fully Renovated 96-room Courtyard by Marriott Memphis East in Tennessee
Hotel Equities | July 30, 2014
Atlanta, GA - July 30, 2014 - Atlanta-based Hotel Equities (www.hotelequities.com) recently held a ribbon cutting ceremony to celebrate the grand re-opening of the fully renovated 96-room Courtyard by Marriott Memphis East in Memphis, Tennessee. The hotel recently completed a comprehensive renovation and a significant profit improvement plan that exceeded Marriott's expectations and has yielded an incredible increase in revenues and profitability almost immediately. Front row, left to right: Rob Cote, Hotel Equities VP Operations; Dana Elliott, Director of Sales, Courtyard by Marriott Memphis East: Brad Rahinsky, President & COO, Ho...
LE Reports U.S. Selling Price Per Room Soars in 1H 2014; Competition Intense For High-End Assets
Lodging Econometrics | July 25, 2014
Average Selling Price Per Room Year-Over-Year (YOY) catapulted 28% to $150,223 per room in 1H 2014, compared to $117,300 in 1H 13. Prices in 1H 14 are also up 17% over the year-end 2013 total of $128,352. Buyer competition is keen, as REITs and Private Equity Groups with similar investment objectives compete for the larger, high-end hotels in CBD locations of major cities, most of which have now totally recovered. The competition is similar for hotels in the top resort destinations which have been a bit slower to recover. As a result these assets still have considerable earnings and appreciation potential ahead. Internal transaction met...
Hotel Equities Assumes Management of Fairfield Inn Fort Myers in Florida; Renovation to Begin
Hotel Equities | July 16, 2014
Atlanta, GA - July 16, 2014 - Atlanta-based Hotel Equities (www.hotelequities.com) assumed management of the Fairfield Inn hotel in Fort Myers, expanding Hotel Equities' portfolio in Florida. "We are delighted to bring our best-in-class management and award-winning guest service to the Fort Myers area," said Joe Reardon, Vice President of Marketing and Business Development for Hotel Equities. "The property will immediately undergo an extensive renovation to ensure our guests the best level of service and quality they've come to expect from Hotel Equities and Marriott." "We're excited to create additional opportunities for our associates...
Hotel Equities Assumes Management of 93-key Holiday Inn Express & Suites Port St. Lucie West in FL
Hotel Equities (HE) | July 8, 2014
Atlanta, GA-July 8, 2014 - Atlanta-based Hotel Equities (www.hotelequities.com) assumed management today of the 93-room Holiday Inn Express & Suites hotel in Port St. Lucie West, continuing to broaden Hotel Equities' large footprint in Florida. "We are delighted to bring our best-in-class management and award-winning guest service to the Treasure Coast area of South Florida," said Joe Reardon, Vice President of Marketing and Business Development for Hotel Equities. "We're excited to create additional opportunities for our associates and a strong partnership with the existing ownership group," said Reardon. We will work hand in hand ...
VJ Management Inc. Opens the 103-room Holiday Inn Express® Hotel in Yorkton, Saskatechewan
IHG | July 7, 2014
Hotel Located Minutes from Highway 16 and Downtown Yorkton YORKTON – July 7, 2014- InterContinental Hotels Group (IHG) [LON: IHG, NYSE: IHG (ADRs)] announces the opening of the 103-room Holiday Inn Express Yorkton hotel in Saskatchewan. Located at 63 7th Avenue North, the hotel features 21 suites, including four family suites. Prominently situated close to Highway 16, the hotel is within walking distance to Yorkton City Hall and several corporate and government offices. ) . Located one kilometer from downtown, the four-floor hotel is also nearby popular restaurants, the Deer Park golf course and Gallagher Center; which holds two indoo...
IHG Plans Multiple Dual-Branded Hotel Developments for the U.S.; 4 in Pipeline Opening by 2017
IHG (InterContinental Hotels Group) | June 27, 2014
ATLANTA, June 27, 2014-- InterContinental Hotels Group (IHG) [LON: IHG, NYSE: IHG (ADRs)] today announced plans for multiple dual-branded hotel developments across the U.S., with the first of them to open in Atlanta this week. Owned by AWH Partners, LLC, and operated by Spire Hospitality, the Atlanta hotel will be franchised by an affiliate of IHG. Located in the hometown of IHG Americas corporate headquarters, the 501-room Hotel Melia will convert to a Crowne Plaza hotel and will immediately undergo a total renovation, ultimately creating a 360-room Crowne Plaza hotel. By January of 2016, the property will open within the same buildin...
Hotel Equities Selected to Manage 3 New-Build Marriott Hotels
Hotel Equities (HE) | June 9, 2014
ATLANTA (June 9, 2014) - Hotel Equities was recently selected to manage three new Marriott hotels for BN Management. The first will be a 123-room Courtyard by Marriott on the west bank of New Orleans in the upscale suburb of Gretna, Louisiana. Next will be a 92-room Fairfield Inn & Suites by Marriott in Houma, Louisiana and the third will be a 109-room Fairfield Inn & Suites in Panama City Beach. "We are excited to add three additional Marriott hotels to our portfolio, starting with the Courtyard in a prime New Orleans' location," said Joe Reardon, Vice President of Marketing and Development for Hotel Equities. "We are honored t...
Hotel Equities Promotes Brad Rahinsky to President and Chief Operating Officer
Hotel Equities | May 29, 2014
Fred Cerrone Moves up to Chairman and Chief Executive Officer ATLANTA (May 29, 2014) -Atlanta-based Hotel Equities (www.hotelequities.com) recently promoted Brad Rahinsky to the position of President and Chief Operating Officer. Fred Cerrone, founder and former president, assumes the position of Chairman and Chief Executive Officer. "Brad has used his extraordinary leadership skills to attract top talent to our team and grow the company," said Fred Cerrone, Chairman and CEO. "He has been instrumental in securing new business through key development deals and driving results to both the top and bottom line of our hotel assets." Mr. Rahin...
