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
The Plasencia Group Reveals a Fresh Look Following Its 20th Anniversary
The Plasencia Group | February 5, 2014
Tampa, Fla. (February 5, 2014) – Entering its third decade of providing personalized hospitality investment advisory services, The Plasencia Group is introducing a new logo and branding for the firm and its affiliates. The Company has undertaken a number of endeavors as part of the transformation, including the refreshing of the firm's logo, the release of a new company website and the implementation of state-of-the-art Citrix ShareFile Virtual Data Room technology. Founded in 1993 with one office in Tampa, Florida, The Plasencia Group now maintains a national footprint through its regional offices strategically situated throughout th...
Marriott’s Response to White Lodging Data Breach
February 3, 2014
February 3, 2014 Marriott International Statement as of February 1, 2014; 10:00 a.m. (ET) One of our franchise management companies has experienced unusual fraud patterns in connection with its systems that process credit card transactions at a number of hotels across a range of brands, including some Marriott-branded hotels. They are in the midst of the investigation and are in close contact with the banks and credit cards companies. We are working closely with the franchise management company as they investigate the matter. Because the suspected breach did not impact any systems that Marriott owns or controls, we do not have additiona...
IHG & PT Hotel Dago Pakar to Open New 223-key InterContinental Bandung Dago Pakar in Indonesia
IHG (InterContinental Hotels Group) | January 27, 2014
Jakarta, 27 January 2014: InterContinental Hotels Group (IHG) and PT Hotel Dago Pakar have signed a management agreement for the 204-room and 19-villa InterContinental Bandung Dago Pakar in the prestigious Dago neighbourhood, northeast of the city centre in Bandung, Indonesia. Set to open this year, the luxurious property is located in the city's Dago Pakar development and promises views over the manicured greens of the 18-hole Mountain View Golf Course, as well as Bandung city. The new hotel is also located just seven kilometres from Husein Sastranegara International Airport and under three kilometres from the commercial hub. Purnawan ...
Marriott to Acquire Protea Hospitality Holdings for $186 Million
Marriott International, Inc. | January 22, 2014
Bethesda, Md., USA and Cape Town, January 22, 2014 – Marriott International, Inc. (NASDAQ: MAR) and South Africa's Protea Hospitality Holdings announced today that they have signed definitive agreements for the purchase by Marriott of Protea's three brands and management company. Under terms of the agreements Marriott will pay approximately 2.02 billion rand, or approximately US $186 million at current exchange rates, subject to normal closing adjustments. The purchase price represents approximately 10 times anticipated pro forma 2014 calendar year EBITDA (earnings before interest, taxes, depreciation and amortization) excluding trans...
Hotel Equities to Develop $52 Million 175-key Residence Inn in Miami Beach/Surfside, Florida
Hotel Equities (HE) | January 21, 2014
Atlanta, GA-January 21, 2014 - Hotel Equities (www.hotelequities.com), an Atlanta-based hotel management, ownership and development company, announced the execution of a Marriott franchise agreement to develop a new construction $52 million resort-style Residence Inn by Marriott in Miami Beach/Surfside, Florida. Industry veteran and award-winning hotelier Fred Cerrone founded Hotel Equities and serves as the President and CEO. The firm has grown from one hotel in Atlanta to a nationally recognized portfolio of more than 45 properties. Hotel Equities will co-develop the 175-room one-of-a kind hotel in conjunction with Hotel Development P...
Twenty Four Seven Hotels Adds TownePlace Suites Sacramento Cal Expo to Portfolio
Twenty Four Seven Hotels | January 20, 2014
Newport Beach CA, January 21,2014 – Twenty Four Seven Hotels expands its portfolio with the addition of the TownePlace Suites Sacramento Cal Expo. The hotel has 117 studio, one-bedroom and two-bedroom residential-style suites, offering 25% more space than traditional hotel rooms. The hotel features In a Pinch 24/7 food/beverage pantry, complimentary breakfast, free Wi-Fi throughout the hotel, outdoor pool exercise room, on-site business services and complimentary weekday USA Today in the lobby. The hotel is pet-friendly and discounts rates based on length of stay. TownePlace Suites Sacramento Cal Expo is within walking distance to Cal...
HVS Releases 2013-2014 Hotel Development Cost Survey
Elaine Sahlins of HVS | January 20, 2014
2013 Development Costs Rise; Market-by-Market Development Uneven HVS has released the HVS Hotel Development Cost Survey for 2013-2014, which incorporates a range of data sources including development budgets, material and labor costs indexes, and input from industry professionals, to track hotel construction costs in the United States. According to HVS San Francisco Senior Vice President Elaine Sahlins, author of the Survey, research shows that by the end of 2013, the hotel investment market as a whole had largely recovered from previous recessionary years, but the trend in market-by-market hotel development has been uneven. "The hotel ...
Hotel Fira S.A.U and IHG to Open 276-key Crowne Plaza Barcelona Fira Center in Spain in Q1 2014
IHG (InterContinental Hotels Group) | January 20, 2014
20 January, 2014 - InterContinental Hotels Group (IHG®), one of the world's largest hotel companies, has signed a franchise agreement with Hotel Fira S.A.U to open its first Crowne Plaza® in Barcelona - Crowne Plaza Barcelona Fira Center. The hotel will open during the first quarter this year. Revealing 3, 000m2 of meeting space, the hotel will have the largest conference and meeting facilities across the entire portfolio of Crowne Plaza properties in Europe. It will be converted from an existing building to a 276 room hotel complete with a new Wellness Centre, a fitness room and a VIP club lounge. Occupying a prime location in the ci...
Hotel Equities Adds 13 Hotels in 4th Quarter, Re-Organizes Firm for Growth
Hotel Equities | January 17, 2014
Atlanta, GA-January 17, 2014- In a surge of unprecedented growth, Hotel Equities (www.hotelequities.com), an Atlanta-based hotel management and development company, added thirteen hotels to its portfolio in the fourth quarter of 2013. Beginning in early October with the addition of the boutique 4-star Wyvern Hotel in Punta Gorda, Florida, the firm made steady gains that included five La Quinta properties, a Courtyard and six additional hotels from Pennsylvania to Florida. "We are encouraged by the solid year-end growth we have achieved as well as the development projects that are underway for 2014," said Joe Reardon, Vice President of M...
Hotel Commercial Investment & IHG to Open Holiday Inn® Dabrowa Gornicza Katowice in Poland in 2015
IHG (InterContinental Hotels Group) | January 13, 2014
January 13, 2104 - InterContinental Hotels Group (IHG®), one of the world's largest hotel companies today announced the signing of Holiday Inn® Dabrowa Gornicza Katowice in Poland. The hotel is scheduled to open in 2015. The franchise agreement with Hotel Commercial Investment to open Holiday Inn Dabrowa Gornicza Katowice will be the first Holiday Inn hotel in the area. The 160 room hotel featuring the Open Lobby Concept will be newly built close to exhibition centre EXPO Silesia and occupies a prime location in the greater Katowice area. The hotel's main driver of demand will be MICE travellers frequenting the exhibition hall. Marcin...
Hotel Equities Hires Rob Cote and Chuck Powell as Vice Presidents of Operations to Manage Growth
Hotel Equities | January 10, 2014
ATLANTA, GA (January 10, 2013) - Atlanta-based Hotel Equities (HE) www.hotelequities.com recently added two vice presidential positions to its corporate infrastructure and brought industry veterans Rob Cote and Chuck Powell on board. Each vice president has oversight of all operations of the hotels in his division and reports directly to Brad Rahinsky, Hotel Equities' Chief Operating Officer. "Hotel Equities added 13 hotels, in both the select and full service segments, during the last quarter of 2013," said Mr. Rahinsky. "It was imperative to hire two best-in-class Vice Presidents of Operations who can sustain and continue our firm's a...
“BridgeStreet Global Hospitality” Redefines Serviced Apartment Sector
Lodging Econometrics (LE) | January 9, 2014
HERNDON, Va. – BridgeStreet Residences, Serviced Apartments and Suites – the leading international hospitality solution offering serviced apartments, today debuts a refreshed brand concept and name, BridgeStreet Global Hospitality, effective immediately. The launch introduces an industry-leading family of brands including six distinct serviced apartment experiences ranging from six- to two-star products. The newly rebranded company directly addresses sector-wide challenges, including fragmentation and a lack of service offering consistency, historically creating a barrier between consumer expectations and the end product, as detailed i...
The Plasencia Group Advises on Sale of The Hilton Concord, California
The Plasencia Group | January 8, 2014
Tampa, Fla. (January 8, 2014) – The Plasencia Group is pleased to announce the sale of the Hilton Concord located in Concord, California. Waramaug Hospitality, together with Interstate Hotels & Resorts and an alternate money management firm, acquired the 329-room hotel from Interstate, which continues to remain an investor and operator of the hotel. According to Joe Corcoran, Vice President of The Plasencia Group's Southwest Region, "The Hilton is a very well-positioned hotel in San Francisco's affluent East Bay region. It allows its new owners to deploy strategic capital supported by a strong in-place yield. They now own a recen...
Marriott Honors Top Owners & Franchisees for 2013; Partnership Circle Award Given to Four Companies
Marriott International | January 6, 2014
January 6, 2014 - Marriott International honored top owner and franchise companies at the annual MINA & Full Service Owners Conference held recently at The Ritz-Carlton, Grand Cayman. Four companies – Concord Hospitality, The Kessler Collection, Sage Hospitality and White Lodging Services – were awarded the Partnership Circle Award, the highest honor Marriott presents to its owner and franchise partners for hospitality excellence. Marriott's Partnership Circle Award honors owners and operators who have a strong alignment with Marriott in a number of different areas, from overall culture to sharing a long-term commitment with Mar...
Hotel Equities & JV Partner HDP to Develop 132-key Hampton Inn and Suites in Atlanta, Georgia
Hotel Equities (HE) | December 23, 2013
Atlanta, GA - December 23, 2013 - Atlanta-based Hotel Equities (www.hotelequities.com) signed a definitive agreement with Hilton Hotels to develop an upscale Hampton Inn & Suites in the Sterling Pointe development with its joint venture partner, Hotel Development Partners (HDP). The project will include four outparcels targeted for high-end restaurants and retail. Hotel Equities will manage the hotel and assist with the development. Opening is projected for early 2015. "We have seen pent-up demand for quality lodging assets in Atlanta's Perimeter Center area, making the location and timing for this project ideal." said Brad Rahinsky...
Hilton Signs Agreement to Rebrand Paris Landmark as Hilton Paris Opéra
Hilton Hotels & Resorts | December 20, 2013
PARIS and MCLEAN, Va. - Hilton Worldwide has reached an agreement which will see it rebrand the historic Concorde Opéra hotel under its Hilton Hotels & Resorts brand in late 2014. The iconic hotel, in Paris' fashionable 8th arrondissement, was recently acquired by Blackstone Real Estate Partners Europe IV ("Blackstone"). The Concorde Opéra will undergo a significant investment programme to restore and reinvigorate the 124 year old landmark prior to rebranding as the Hilton Paris Opéra next year. Rob Palleschi, global head, Hilton Hotels & Resorts, said, "Paris has long been considered one of the world's great tourist destinat...
Constellation Barclay Holding US to Acquire 80% of the InterContinental New York Barclay for $240 M
IHG (InterContinental Hotels Group) | December 20, 2013
New JV Plans Property Refurbishment 20 December 2013 - InterContinental Hotels Group PLC (IHG) [LON:IHG, NYSE:IHG (ADRs)] today announces that Constellation Barclay Holding US, LLC, which is an affiliate of Constellation Hotels Holding Limited, has agreed to acquire an 80% interest in a joint venture with IHG to own and refurbish the InterContinental New York Barclay (the "Hotel"). The 80% interest will be acquired for gross cash proceeds of $240m, which values the Hotel at $300m prior to refurbishment. IHG will hold the remaining 20% interest. IHG has secured a 30 year management contract on the Hotel, commencing in 2014, with two ten...
The 140-room Holiday Inn Express Chennai Mahindra World City Opens in India
Holiday Inn Express brand Hotels | December 18, 2013
New Delhi, India, 18 December 2013: InterContinental Hotels Group (IHG) today announced the opening of Holiday Inn Express Chennai Mahindra World City in the corporate hub of Mahindra World City near Chennai. The property was officially opened today by IHG's Pascal Gauvin, COO India, Middle East and Africa and Douglas Martell, Vice President Operations South West Asia alongside Saurabh Sonthalia, Country Head - Duet India Group, Naveen Jain, President, Duet India Hotels and Sangeeta Prasad, CEO - Integrated Cities & Industrial Clusters, Mahindra Lifespace Developers Ltd. This is the second hotel to open under a joint venture partner...
Foremost Hospitality HIEX GmbH & IHG to Open Two Holiday Inn Express Hotels in Germany
IHG (InterContinental Hotels Group) | December 18, 2013
Opening in Hamburg in 2014 & Freiburg in 2015 18 December, 2013 - InterContinental Hotels Group (IHG®), one of the world's largest hotel companies, today announces the expansion of its Holiday Inn Express® brand in Germany with the signing of two more hotels: Holiday Inn Express Hamburg - City Hauptbahnhof and Holiday Inn Express Freiburg - City. These franchised hotels are part of a multiple development agreement (MDA) with IHG's long standing lessee partner Foremost Hospitality HIEX GmbH. Holiday Inn Express Hamburg - City Hauptbahnhof will join its sister properties Holiday Inn Express Hamburg - City Centre and Holiday Inn Expr...
Hotel Equities Selected to Manage the 96-key Courtyard by Marriott in Memphis, Tennessee
Hotel Equities (HE) | December 12, 2013
Atlanta, GA - December 12, 2013 - Atlanta-based Hotel Equities (www.hotelequities.com) has been selected to manage the 96-room Courtyard Memphis East in Memphis, Tennessee. Located off I-240 and Bill Morris Parkway (I-385) and just minutes from Poplar Avenue in Germantown, the hotel appeals to both business and leisure travelers. It is convenient to the city's finest dining, tourist attractions, shopping and Class A office space for corporate travelers. "Memphis is an exciting city for Hotel Equities' expansion and we are pleased to be selected as the management firm by an ownership group in this growing market," said Joe Reardon, Vice ...
The 140-room Holiday Inn Mauritius Airport Opens with Jean-Eric Sirop as General Manager
IHG (InterContinental Hotels Group) | December 12, 2013
Port Louis, Mauritius, 12 December 2013: InterContinental Hotels Group (IHG) today announces the opening of Holiday Inn Mauritius Airport on the island's picturesque south east coast. Just 700 metres from the new SSR International Airport, five minutes from the nearest beach and 45 kilometres from the capital, Port Louis, the hotel is ideally located for travellers looking to make the most of their time in Mauritius. The 140-room hotel is surrounded by gardens carefully landscaped to preserve the natural botanic diversity. The names of the hotel's food and beverage outlets pay tribute to the proximity to the country's airport and the hi...
Marriott CEO, Arne Sorenson, Discusses Company’s Move to NASDAQ and African Hotel Deal (Video)
Marriott International | December 9, 2013
Arne Sorenson talks about why Marriott made the switch to NASDAQ and the company's plan to become the largest hotel company in Africa. ...
Hotel Equities Selected to Manage Four La Quinta Hotels in Tampa, Florida
Hotel Equities (HE) | December 9, 2013
Atlanta, GA - December 9, 2013 - Atlanta-based Hotel Equities (www.hotelequities.com) has been selected to manage four La Quinta Inn & Suites hotels in the greater Tampa, Florida metro area with a total of 265 rooms. The four hotels include La Quinta Inn & Suites Clearwater South, La Quinta Inn & Suites St. Petersburg Northeast, La Quinta Inn & Suites Tampa Central and La Quinta Inn & Suites Tampa South. "Adding four additional properties in Tampa brings us to a total of 10 hotels in Florida and gives us great flexibility and synergy here," said Joe Reardon, Vice President of Business Development for HE. "We are work...
Tom Singer to Step Down as IHG’s Group Chief Financial Officer; Succeeded by Paul Edgecliffe-Johnson
IHG (InterContinental Hotels Group) | December 6, 2013
6 December 2013 - InterContinental Hotels Group (IHG) [LON:IHG, NYSE:IHG (ADRs)] today announces that Tom Singer will step down from the Board and his role as Chief Financial Officer on 1 January 2014. He will be succeeded by Paul Edgecliffe-Johnson, who joined IHG in August 2004 and has held a number of senior positions, most recently as Chief Financial Officer of IHG's Europe and Asia, Middle East & Africa regions. Paul will take up his new position and become a member of IHG's Board and Executive Committee on 1 January 2014. Patrick Cescau, Chairman of IHG commented: "I want to thank Tom for his contribution to the success of IHG...
