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Hot Topics for Restaurants: EB-5 and Crowdfunding Investment, Licensing, and Gift Card Programs
Jim Butler | September 23, 2015
By Jim Butler and the Global Hospitality Group® Author of www.HotelLawBlog.com September 2015 The Global Hospitality Group® is best known for its expertise in connection with hotels and resorts. We also have an active restaurant practice, and like a hotel, a restaurant is an operating business integrally intertwined with special purpose real estate. We frequently advise restaurant owners and operators on labor and employment, ADA, management, and finance and licensing issues, and we have a particular expertise relating to celebrity chef deals. Senior Global Hospitality Group® member David Sudeck recently participated in a ro...
HFTP Adds to Very Successful Social Responsibility Program, HITEC Helps, with HFTP Helps
HFTP | September 17, 2015
HFTP Helps will feature a Silent Auction to benefit the disaster relief fund of the Northwest Region American Red Cross AUSTIN, TEXAS, USA (September 17, 2015) — Global hospitality association Hospitality Financial and Technology Professionals (HFTP®) is adding to its hugely successful community giving efforts with HFTP Helps. The first portion of the program, HITEC Helps, first held this year in Austin, Texas to support the United Way for Greater Austin during the Hospitality Industry Technology Exposition & Conference (HITEC) raised over $15,000 USD in support of the Austin-areas' Memorial Day flood victims. Riding off of the e...
Aptech Selected by Coastal Hotels, Margaritaville Hollywood Beach Resort
Coastal Hotels | September 15, 2015
Coastal Hotel Group Taps Aptech for Business Intelligence and Targetvue Budgeting/Forecasting; Margaritaville Hollywood Beach Resort Selects Profitvue® Back Office Pittsburgh, PA – September 15, 2015 – Aptech Computer Systems announced Coastal Hotels with 4 properties in the western US selected Execuvue® Enterprise Business Intelligence and Targetvue Budgeting and Forecasting. Margaritaville Beach Resort will also install Aptech's Profitvue Enterprise Financial Accounting for its 349-room destination property in Hollywood, FL. Aptech is the leading provider of hospitality software for business intelligence, budgeting, and enterpri...
HFTP to Honor David Meyer as the 2015 Certified Hospitality Accountant Executive (CHAE) of the Year
HFTP | September 14, 2015
AUSTIN, TEXAS, USA (September 14, 2015) - Hospitality Financial and Technology Professionals (HFTP®) will honor David Meyer, CHAE as the 2015 Certified Hospitality Accountant Executive (CHAE) of the Year at the 2015 HFTP Annual Convention and Tradeshow. The CHAE of the Year honors the individual that scored the highest on the CHAE certification exam in a given year and this year HFTP will induct the 32nd honoree. The Annual Convention and Tradeshow will be held October 21-24 at the Hyatt Regency in Bellevue, Wash. USA. Meyer became fascinated with the hospitality business during college when he wrote a paper about hotel management. Tha...
Leading Hotels to Offer Duetto’s Revenue Strategy Solutions to More than 400 Properties Worldwide
Duetto | September 10, 2015
San Francisco, September 10, 2015 -- Duetto, the market leader in hotel profit optimization technology, announced an alliance with The Leading Hotels of the World, Ltd., to make its Revenue Strategy Solutions available to more than 400 hotels worldwide. Leading Hotels is one of the largest luxury hotel collections, with some of the world's most exceptional properties in more than 80 countries. Jon Londeen, Senior Vice President, Distribution and Reservations Management at The Leading Hotels of the World said, "With solutions that address the unique challenges of independent luxury hotels, Duetto delivers powerful insights on pricing and...
The Hotel Guide to Budgeting Business Intelligence Tools in 2016
nSight | September 8, 2015
nSight's New eBook Provides Goal-Based Tips for 2016 Budgets NASHVILLE, TN - September 8, 2015 -nSight, the leader in online consumer shopping intelligence for hotels and destinations, today released its eBook on how hotels should plan and budget for business intelligence tools for the upcoming year in an always-changing consumer environment. The simple tips in this eBook help hoteliers be positioned better to increase bookings in 2016 by understanding and targeting consumers more proactively and more effectively than the competition. Hotel distribution is more complex today with a growing number of intermediaries between the hotel prod...
Hong Kong’s The Upper House Implements Duetto’s Revenue Strategy Solutions
Duetto | September 8, 2015
Duetto brings new levels of insight and revenue optimization to one of Hong Kong's most luxurious properties Hong Kong, September 8, 2015 – Duetto, the market leader in hotel profit optimization technology, announced that The Upper House is implementing its revenue strategy solutions, bringing new insights on pricing and demand to the landmark property. The Upper House is managed by Swire Hotels, an international management company with properties in Asia, Europe and North America. Designed by architect Andre Fu, The Upper House is a distinctive modern luxury property that sits atop Hong Kong's bustling urban landscape. Duetto pro...
How the Sharing Economy is (Mis)shaping the Future
Alan E. Young | September 2, 2015
Is this disruptive new trend really good for the economy and consumers? By Alan E. Young Chances are, you've used some sort of "sharing" service or technology recently. Maybe you've taken an Uber ride home from the airport, or rented out a loft from Airbnb for a weekend trip. Many people are saying that the sharing economy is the way of the future. It may indeed be disruptive, but is this trend really good for the economy and consumers? Whether you call it the Sharing Economy, the Collaborative Economy, the Gig Economy or C2C (Consumer to Consumer), it's certainly innovative and by all indicators, on the rise. More and more startups and...
What Every Hotel Owner (& Operator) Needs to Know About “Data Security” After Wyndham Worldwide Case
Bob Braun | September 2, 2015
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com Massive data breaches affect hotels and their legal responsibilities. As unauthorized hacking of confidential data explodes in volume and seriousness, minimum expected standards are evolving that hoteliers and others must follow. Interestingly, the latest guidelines are provided in an August 24, 2015 appellate court decision involving Wyndham Worldwide as if to emphasize that these rules (really) apply to the hotel industry. How did this case arise? What are some basic steps that everyone with confidential data is expected to take? What h...
Hotel AG Announces Recent Closings
Hotel AG | September 1, 2015
ATLANTA – September 1, 2015 – Hotel AG announced today the firm's recent sales transactions. Hotel AG has been involved in 225 hotel sale transactions since January 2013 totaling $2.3 billion in market value. Over that period, the firm has averaged closing 1 hotel transaction every 4 days. Recently, the firm closed a large portfolio transaction in the Midwest, a pure Marriott portfolio in Florida along with a double handful of single asset transactions across the country. All of these transactions were sold on behalf of institutional clients. Currently, the firm has 196 hotels on the market of which $402 million of market value is p...
The Internet of Things: The Impact on the Travel and Hotel Industry
Alan E. Young | August 26, 2015
Converging Technologies for Smart Environments By Alan E. Young The Internet of Things (IoT) is a relatively large topic that is widely circulating around these days, but I think it is very important to point out its practical implementations. According to HOSPA in 2013 there was one device connected to the internet per person on earth. They forecast that by 2020, this number will increase to 9 devices per person. Currently, 80 'things' connect to the internet every second but we will see this figure rise to more than 250 'things' connected to the internet every second in just the next few years. This trend will have a huge impact on th...
HFTP, Global Hospitality Association, Announces Release of New Valuable Industry Resource
HFTP | August 26, 2015
AUSTIN, TEXAS (August, 26, 2015) — Today, Hospitality Financial and Technology Professionals (HFTP), a global association created to further the knowledge and advancement of industry professionals, announced an exciting new service to its members and the industry at large — a fully searchable directory of consultants specializing in accounting, finance, technology, human resources and legal issues. "HFTP is asked for lists of members with competencies in special areas that are available for consulting engagements on almost a daily basis", said HFTP CEO Frank Wolfe, CAE. "While we do not endorse any consultants or companies, we do tr...
Make It Dirty, Make It Clean
Alan E. Young | August 12, 2015
By Alan E. Young, President and Co-Founder of Puzzle Partner I have been honored to work for some amazing CEO's in my career. They all had one thing in common, other than their strong leadership skills and their inspiring, visionary aptitude. They understood the need to be first and fast. Having had the privilege to work for Charles Philips (Infor), Larry Hall (Springer-Miller) and Ben Jost (TrustYou), I learned a great deal from each of them. Though these three companies all have different products and sometimes focus on different markets, they all develop software - and in today's ever-changing technological landscape, they all unders...
Transaction Volume Moves Higher. Earnings Are Robust
Lodging Econometrics | August 10, 2015
August 10, 2015 - PORTSMOUTH, NH - Hotel transaction volume increased modestly in the first half of 2015 as privately held equity funds and hotel companies continued their disposition strategies. For 1H 2015 transactions and property transfers trended upward to 807 hotels caused by a substantial increase in portfolio sales. Single-asset transactions actually declined for the period and there was no M&A activity recorded. Investors are basking in the fifth consecutive year of double-digit earnings growth and although the rate of growth is slowing. They do not foresee a top-out of earnings for a least another two to three years. Howe...
Disruption in the Hotel Industry is Increasing at an Exponential Pace, say Leaders at 3rd Annual RSS
Duetto | August 7, 2015
Powered by Duetto, RSS Draws More than 300 to Discuss Revenue Strategy as a Key to Hotel Profitability in Today's Dynamic Marketplace New York, August 7, 2015 ... A bellwether annual event for the travel technology community, the Third Annual Revenue Strategy Summit (RSS) drew more than 300 industry leaders to the Affinia Capitol Liaison Washington, D.C. July 29th, for a one-day conference that examined the latest trends in hotel distribution, sales, price optimization, acquisition costs and marketing. The day began with a panel on the disruption threatening the hotel industry and ended with a look at the global forces causing what thin...
JLL Reports Hotel Transaction Volumes Have Hit a New High: A Video Report
JLL | August 5, 2015
CHICAGO, LONDON, SINGAPORE, August 5th, 2015 – 2015 is on track to be a record year for foreign investment into hotels says JLL (NYSE: JLL) as the company announces that global hotel transactions reached US$42 billion in the first half of the year driven by a wealth of foreign investment. The largest total deal volumes in the first half of the year were witnessed in the Americas at US$24 billion, up 73% year-on-year (y-o-y). This is followed by EMEA, up 55% to US$15 billion, whilst the Asia Pacific region saw a slight decline in investment volumes, down 6% to US$4 billion. Whilst American private equity funds remain the largest source...
Hotel AG Appoints Co-Presidents
Hotel AG | August 4, 2015
ATLANTA - August 4, 2015 - Hotel Assets Group, LLC (Hotel AG) is pleased to announce today that Brad Sinclair and Andrew Broad have been appointed as co-presidents of the firm. "This is a strategic move for Hotel AG and one that I believe to be a catalyst for the firm's future," commented H. Keith Thompson, Hotel AG founder and principal. Thompson added, "The firm has seen significant growth since its inception and has continued to establish itself as one of the most prominent hotel brokerage firms in the US. Over the past three years, Hotel AG has added strategic offices in Los Angeles, Chicago, New York, Tampa and Portland; with Washi...
Pebblebrook Hotel Trust Selects Viceroy Hotel Group to Manage The Prescott Hotel in San Francisco
Viceroy Hotel Group | August 3, 2015
LOS ANGELES, August 3, 2015 -- Effective July 28, 2015, Viceroy Hotel Group is now managing The Prescott in San Francisco, California located at 545 Post Street. The hotel is owned by Pebblebrook Hotel Trust. The boutique property, boasting 164 guestrooms, will continue to operate as The Prescott until it closes for renovation later this year. The same great team remains at the hotel and from Viceroy's perspective, it is business as usual. All guest reservations made prior to the management transfer will be honored. "We are thrilled to welcome The Prescott to Viceroy Hotel Group's collection of iconic and lifestyle hospitality experienc...
HFTP-supported Research Reveals Guests’ Willingness to Disclose Personal Information to Hotel Apps
HFTP | August 3, 2015
August 3, 2015 (Austin, Texas) — A study supported by Hospitality Financial and Technology Professionals (HFTP), reveals that only 34 percent of guests would disclose personal information, in general, on a hotel app; but drilling down through the responses, the positives increased based on whether a specific detail would impact a hotel stay. The factors that influenced a guest's willingness to reveal information include: benefit of disclosure, positive emotion and trust in app. The study's details, authored by Agnes DeFranco CHAE, Ed.D. and Cristian Morosan, Ph.D., both of the C.N. Hilton College, University of Houston, are now widely...
Professional Development Association Awards 1500th Hospitality Accountant Certification
HFTP | July 30, 2015
July 30, 2015 (AUSTIN, TEXAS) — On July 28, 2015 Hospitality Financial and Technology Professionals (HFTP®), a nonprofit professional development association based in Austin, Texas, USA, awarded the 1500th Certified Hospitality Accountant Executive (CHAE) designation to an individual who successfully met all of the requirements and passed the CHAE exam. Mrs. Danqing Liu, CHAE, an instructor at Florida International University's offshore program at Tianjin University of Commerce in China, is the individual honored with this distinction. "The CHAE program has grown by leaps and bounds since its inception and HFTP is honored to be able ...
IDeaS Drives Improved Revenue Management for Serviced Apartment Specialist Staycity
IDeaS | July 28, 2015
LONDON – July 28, 2015 – IDeaS Revenue Solutions, the leading provider of revenue management software solutions and advisory services, today announced a major revenue management initiative with Staycity, one of Europe's fastest growing serviced apartment operators. "Staycity is expanding at a rapid pace, so working with such a dynamic company is very exciting for IDeaS. The serviced apartment sector is one of the most competitive in Europe's growing accommodation market, and IDeaS has the tools to help Staycity maximise its potential. By automating much of its workload, IDeaS RMS helps Staycity keep up with today's fast-moving and r...
McKinsey & Company’s Ethan Hawkes and Sree Ramaswamy to Deliver Keynote at Revenue Strategy Summit
Duetto | July 27, 2015
July 29, 2015 at the Affinia Liaison Capitol Hill, Washington, D.C. Powered by Duetto, RSS Anticipates 300+ Participants, Discussing Strategies to Keep Hotels Ahead in Today's Dynamic Marketplace New York, July 27, 2015 ... Ethan Hawkes, leader in the Travel Practice at McKinsey & Co., and Sree Ramaswamy, a Senior Fellow at the McKinsey Global Institute, will deliver the keynote address at the third annual Revenue Strategy Summit, (RSS), a gathering of thought leaders and practitioners who will examine the forces reshaping the hospitality industry and how marketing and technology must evolve to meet new demands. Hawkes and Ramaswam...
Revenue Management Insights: An Interview with Jean Francois Mourier
Jean Francois Mourier | July 23, 2015
While most hoteliers are already familiar with the practice of revenue management, many hoteliers are still using less sophisticated methods to manage their rates on the online channels. Especially among smaller, independent properties, revenue management is often still done manually, a process that is hugely time-consuming and much less effective (when compared to an automated revenue management system). We spoke with Jean Francois Mourier, CEO of REVPAR GURU, to find out his thoughts on the best practices in revenue management, specifically as related to choosing an effective revenue management system (RMS). Overall, what trends do yo...
Geller and Wanxiang America Acquire Controlling Interest of Iconic Waldorf Astoria Chicago
Waldorf Astoria Hotels & Resorts | July 22, 2015
CHICAGO, July 22, 2015 -- "It is a terrific time to be in the luxury hotel business, especially in Chicago, due to its growth in tourism. This hotel's world-class location, physical attributes and current market position provide a wonderful platform from which to grow," so stated Laurence Geller, chairman of Geller Investment Co., upon aquiring a majority interest in the Waldorf Astoria Chicago. It is the second Chicago hotel that Geller's company, teamed with Wanxiang America Real Estate Group, announced in the last year. The first was the Conrad Chicago, which is just steps off of Michigan Avenue on Erie Street, and due to open in the...
