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Rainmaker Introduces GuestREV® Mobile App for On-the-Go Revenue Management
Rainmaker | March 25, 2015
Total Revenue Management solution suite for hoteliers unveiled ATLANTA, GA - March 25, 2015 - The Rainmaker Group, the leading provider of revenue management and profit optimization solutions to the gaming/hospitality and multifamily housing industries, unveiled its GuestREV® Mobile app version, the first of its kind in revenue management solutions as a complete solution version for mobile devices. Also announced at its 11th annual customer conference, Rainmaker introduced cutting-edge enhancements to its market-leading GuestREV® and GroupREV® systems, and further deployment news of its recent acquisition of Revcaster™ and its hosp...
Can Revenue Management Resolve Conflict between GOP PAR and REV PAR as Hotel Performance Indicator?
Ahmed Mahmoud | March 25, 2015
By Ahmed Mahmoud Far in the past for the hotel industry analysis, there were two simple classic indicators used to measure the hotel performance: average room rate and % of occupancy. Then, in the 80s, yield management or "profitability management" started to be the main indicator, because it reflected how efficient the hotelier can manage occupancy and price at the same time, depending on demand. Some hoteliers decided not to stop in reasoning and developing theory and tried GOP PAR in practice. Since early 2002 Larkspur Hospitality Company of San Francisco, has been actively using GOPPAR as a measurement to provide a clearer picture ...
Bournemouth University Win the Passion 4 Hospitality Business Management Game 2015
The Total Simulator Company | March 24, 2015
Bournemouth University have won the Passion 4 Hospitality Business Game for the second year in a row. Team member Ellen McCausland tweeted after the event "@HOTS_Simulation Such a fantastic day yesterday at @IoH_Online Conference. Proud to have brought home the trophy for a second year! #BUproud". The competition was contested this year by teams from Plymouth, Manchester Metropolitan, University College Birmingham, Westminster Kingsway and Bournemouth. These five teams came through the online heats for the competition, which featured eight teams. This year the focus of the business game was on revenue management, social media and guest ...
Average Daily Rate Growth Helps Hoteliers Spring into March
TravelClick, Inc. | March 24, 2015
Hoteliers Advised to Continue to Monitor Their Local Markets NEW YORK - March 24, 2015 - Hotels in major North American markets are continuing to experience growth driven by strong rates, according to data from the March 2015 TravelClick North American Hospitality Review (NAHR). While hotels continue to experience steady growth, group sales have decelerated. "We're finally moving out of the doldrums of winter into the spring but the cold weather has had an adverse effect as group sales pace has continued to decelerate from the strong gains sustained throughout most of 2014," said John Hach, Senior Industry Analyst at TravelClick. "The c...
The Rainmaker Group Kicks Off Its 11th Annual Hospitality Client Summit
Rainmaker | March 24, 2015
ATLANTA, GA - March 24, 2015 - The Rainmaker Group, the leading provider of revenue management and profit optimization solutions to the hospitality and multifamily housing industries, kicked off its 2015 Hospitality Client Summit in Fort Lauderdale, FL. A record number of attendees, from around the globe, are attending Rainmaker's 11th annual Summit. Hotel and casino-hotel executives, revenue managers and operations specialists are attending to learn and leverage best practices, review new and emerging technologies and innovations, and to solve the problems that matter in improving their business performance. Rainmaker promises fresh in...
JMBM Has Sourced More than $700 million of EB-5 Financing for New Development Projects
Jonathan Bloch | March 23, 2015
By Jim Butler and the Global Hospitality Group® 23 March 2015 Click here for the latest articles on EB-5 Financing. The buzz continues on EB-5 financing for development projects. EB-5 financing is an important and viable source of construction financing for hotels, hotel enhanced mixed-use, and other development projects. Five years ago, when JMBM started helping hotel developers with EB-5 financing, many worried about whether this is a legitimate and reliable financing source. Now, after billions of dollars of development have been funded with EB-5, this type of financing is regarded as mainstream, and is used by many institution...
5 Tips on How Data Snapshots Create Forecasting Accuracy and Greater Profitability
Aptech Computer Systems | March 17, 2015
The Trend is Your Friend: Accurate Forecasts Combine Historic Performance with Daily Operating Data to Uncover Trends that Affect Profitability By Jill Wilder, Vice President of Aptech Computer Systems March 17, 2015 - There's a popular adage among business gurus: The best way to predict your future is to create it. Accurate forecasting is the foundation of a meaningful budget. An accurate plan influences committed expense money for the future and shows where it will come from. Without reliable forecast numbers, a hotel operator is managing their business in the dark. Hotel companies today can access an ocean of data that will help them...
Hotel AG Closes The Riverhouse Hotel & Convention Center in Bend, Oregon
Hotel AG | March 11, 2015
ATLANTA - March 11, 2015 - Hotel AG announced today the firm has closed on the sale of The Riverhouse Hotel & Convention Center located in Bend, Oregon. The Riverhouse Hotel & Convention Center is a full-service hotel and conference center considered one of the premier meeting destinations in the Northwest. The property consists of 220 guestrooms and a 30,000-square-foot LEED Silver meeting facility situated on 15 acres along the Deschutes River in the center of Bend. "Bend has been a hot spot for decades offering visitors year-round activities and The Riverhouse Hotel & Convention Center has been a hospitality cornerstone i...
Hotel AG Continues Closing Pace
Hotel AG | March 5, 2015
ATLANTA - March 5, 2015 - Hotel Assets Group, LLC (Hotel AG), announced today the firm continues to see a rapid pace of closings. The firm has sold or advised on 195 separate hotel transactions for the last trailing 24 months. A few of the recent closings in 2015 included a full-service resort hotel in Oregon that sold for $143,000 a room, a full-service hotel in historic downtown Savannah that sold for $220,000 a room, a Hyatt Place and Courtyard by Marriott located in the Upper Midwest, and a high-rise full-service beach front hotel located in Daytona Beach. The firm is 250% ahead in closings compared to the same period last year. Cur...
hotel SystemsPro Welcomes 2015 with New Leadership, Re-Energized Focus on Client Success
hotel SystemsPro | February 26, 2015
Dedicated Team of Hotel Professionals Launch High-Performance Solutions Backed by Personal Service Atlanta - February 26, 2015 - hotel SystemsPro, a provider of high performance business solutions for hotels and hotel company owners, announced a re-energized company launch for 2015. The company, founded in 1994 will emphasize strongly-focused customer service teams and product innovations guided by Lana Perkins, CHA, hotel SystemsPro founder. Click here for more information on hotel SystemsPro products. Personal Service and Solutions for Sales and Revenue, Facilities Management, and Guest Service. "Client success is our inspiration and ...
The Next Frontier in Revenue Management: Big Data for Hoteliers
Jean Francois Mourier | February 24, 2015
By Jean Francois Mourier Big Data seems to have been the buzzword in most industries for the last five years. But unlike many other industries that have integrated Big Data as a key component of their operations, the hotel industry is lagging very far behind. In my opinion, this is a big - and costly - mistake to make! You might be asking yourself: "How can my hotel leverage the power of Big Data?" But before I explain how your property can use Big Data to generate significant increases in occupancy, ADR and RevPAR, let's go back to the basics... What is Big Data? Google defines Big Data as "extremely large data sets that may be analyze...
Third Annual Revenue Strategy Summit Planned for July 29, 2015 at the Liaison Capitol Hill D.C.
Duetto | February 23, 2015
Powered by Duetto, RSS Will Bring Together Industry Thought Leaders on the Next Frontiers in Hotel Innovation Washington DC - February 10, 2015 ... Duetto, Kalibri Labs and Silver Hospitality Group, LLC announce the third annual Revenue Strategy Summit (RSS), a gathering of thought leaders and practitioners which will examine forces reshaping the hospitality industry and how marketing and technology must evolve to meet new challenges. Held for the first time in Washington, D.C. - the epicenter of policy discussion and decision-making - RSS is scheduled for Wednesday, July 29th at Affinia's Liaison Capitol Hill Hotel. The full-day confe...
Renovation/Conversion Underway for the 361-room Hotel Zephyr Fisherman’s Wharf in San Francisco, CA
Davidson Hotels & Resorts | February 17, 2015
San Francisco, CA - Feb. 17, 2015 - Davidson Hotels & Resorts has teamed up with acclaimed international design firm Dawson Design Associates to launch Hotel Zephyr, an upscale hotel property with a fresh and irreverent twist. As one of the rare waterfront hotels in San Francisco, Hotel Zephyr will offer a one-of-a-kind hotel experience in the heart of the city's iconic tourist attractions. The property, currently the site of the Radisson Fisherman's Wharf and spanning over the entire block bound by Jefferson, Powell & Beach St., was acquired by Pebblebrook Hotel Trust in December 2013. The hotel, completely transformed and re-i...
Aptech’s Targetvue Budget Solution Earns Corporate Performance Management Award from Prophix
Aptech Computer Systems, Inc. | February 16, 2015
Prophix Taps Aptech for Extensive Knowledge and Hospitality Experience: Introduced Enterprise Budgeting and Planning to Hotel Companies Pittsburgh, PA - February 16, 2015 - Prophix, a pioneer in global Corporate Performance Management (CPM) software, honored Aptech Computer Systems with its Independent Software Vendor (ISV) Award for 2014. Aptech received the award for its Targetvue Enterprise Budgeting and Planning solution for hospitality companies. Aptech is the leading provider of hospitality software for business intelligence, budgeting, and enterprise financial accounting. Click here for more on Aptech's products and services. Apt...
Hotel Group Sales Challenge Solved with Comprehensive Group Pricing Optimization
Rainmaker | February 13, 2015
ATLANTA, GA - February 13, 2015 - The Rainmaker Group announced today the introduction of its most powerful version yet of its GroupREV® group pricing software solution to grow and maximize an organization's total revenue from meetings and events sales. Rainmaker's GroupREV solution for group sales was first introduced in 2012 and is used by leading hospitality organizations in the US, Caribbean, and Dubai. Multi-year usage experience by its customers and continuous innovation has resulted in group conversion rate improvement of 11.5% or higher and group room revenue lift of over 8%. GroupREV was introduced in 2012 to complement Rainma...
Leading Hospitality and Gaming Properties Choose Rainmaker’s Solutions to Improve Revenue and Profit
Rainmaker | February 9, 2015
ATLANTA, GA - February 9, 2015 - The Rainmaker Group announced today that more than 20 new system implementations for its revenue management and profit optimization software solutions have been booked already in 2015. All of the relationships are new customers, and include The New Tropicana Las Vegas, Golden Nugget Lake Charles, as well as two properties within GF Management and three within the Wind Creek portfolio. "With all twenty-plus implementations being new customers, this announcement is particularly gratifying because it continues to validate the revenue-generating value of our solutions," said Tammy Farley, president of Rainma...
HREC Releases Study “Orlando Area Hotel Transactions – Year in Review (2014)”
HREC | February 4, 2015
(Denver, Colorado; Orlando, Florida) - HREC Investment Advisors has released its comprehensive study of hotel transactions in the Greater Orlando area for 2014. The study covers over 500 hotels located in Orange, Osceola, Seminole, Polk and Lake Counties. The HREC study revealed that a total of 45 changed ownership in 2014, the same number as in 2013. Regarding the single-asset sales: · Aggregate sales volume in 2014 was $464 million vs. $890 million in 2013 · Average transaction size in 2014 was $11.9 million vs. $6.9 million in 2013 (after subtracting for the Peabody sale) · Median transaction size in 2014 was $3.9 million vs. $4.7...
South Point Hotel, Casino & Spa Selects Duetto’s GameChanger Solution
Duetto | February 4, 2015
Duetto Brings Game-Changing Loyalty and Casino Pricing Capabilities to the 2,100-Room Las Vegas Hotel and Casino February 4, 2015 -- Duetto, the market leader in hotel and casino profit optimization technology, announced that South Point Hotel, Casino & Spa will implement its GameChanger solution, bringing new loyalty, forecasting and price optimization capabilities to the Las Vegas property. "Our partnership with Duetto offers the property a unique opportunity to leverage rich customer data through GameChanger, allowing South Point to have a better knowledge of gaming and non-gaming spend," said Ryan Growney general mana...
Puzzle Partner Welcomes New Clients LeisureLink and FindMyCarrots
Puzzle Partner | January 29, 2015
Two Top Innovators in Travel Technology Partner with Puzzle Partner to Maximize Growth and Industry Awareness Toronto, CA, - January 29, 2015 - Puzzle Partner Ltd., a strategic consulting firm specializing in tactical marketing and public relations services for startups and high-growth technology companies in travel and hospitality, announced today that they signed two new clients: LeisureLink and FindMyCarrots. Salt Lake City-based LeisureLink is the leading integrated online distribution solution for vacation rental and resort property managers. LeisureLink offers vacation property suppliers and management companies a solution to ma...
Award Winning BlackLine Systems Now Tailored Specifically for Hospitality by PAS
PAS | January 27, 2015
PAS and BlackLine Systems announce global partnership Gaithersburg, MD – PAS is bringing the world's most trusted solution for Finance Controls and Automation, BlackLine Systems, to hospitality. Leveraging their in-depth experience in hospitality operations and their hands free integration platform, pasUNITY, PAS is creating an unparalleled solution surrounding the Financial Close - Balance Sheet, Bank and Credit Card Reconciliation Automation. The security and integrity that comes with pasUNITY integrations, eliminates many of the human errors that are commonly associated with such sensitive financial information. "We know what makes...
Real-Life Experiences for the Next Generation of Hoteliers
M3 Accounting + Analytics | January 22, 2015
Program implemented through the University of South Florida Sarasota-Manatee College of Hospitality and Technology Leadership provides industry standard software to over 20 universities. (GAINESVILLE, GA – 01/22/15) When Casi Johnson was a college student majoring in hospitality management, she thought she knew a lot about hotel accounting from working in a hotel during her schooling. In a recent blog post describing her experience 17 years ago, Johnson explained, "I loved being able to work in the hotel at night and craved the hands-on learning experience it offered to complement what I was learning in school, taking what was learned...
How Silicon Valley Thinking Can Shake Up Traditional Hotel Management Practices
Mark C. Lynn | January 22, 2015
Asset managers should encourage management to take risks to innovate. by Mark C. Lynn Constant questioning and challenging of hotel amenities, services, programs and management practices is critical to discover new ways of elevating the guest experience. Creativity and innovation should be driven by the premise that employees be permitted - and in fact encouraged - to challenge conventional thinking and the traditional methods of doing things. Building experimentation into a hotel's business culture will boost customer satisfaction and loyalty, and by extension, increase revenues. The Asset Manager's Role in Encouraging Risk Taking The...
Hotel AG involved in 194 Hotel Transactions Since 2013
Hotel AG | January 22, 2015
ATLANTA - January 22, 2015 - Hotel Assets Group, LLC (Hotel AG), announced today the firm has sold or advised on 194 separate hotel transactions during the 2013 and 2014 years. Of the 194 transactions, there were 169 select service hotels, 25 full-service hotels and 12 portfolios that closed. The firm has 204 active hotel engagements on the market today totaling $2.6 billion with a number under sale agreement slated for a 1st quarter closing. In addition, the firm has just been engaged on 2 Florida portfolios that will hit the market in the next several weeks. H. Keith Thompson, principal of Hotel AG, commented, "The pace of the transac...
Hotel Innvestor Raising Capital For 2 Hotels
Hotel Innvestor, LLC | January 19, 2015
Hotel-Investment-Banking Platform Raising Capital For 2 Hotels Projects Are Located In Santa Barbara And Los Angeles Markets Newport Beach, Calif. – Hotel Innvestor has been retained to raise capital for two separate offerings for hotel projects in Goleta, Calif. and Glendale, Calif. President Tim L. Edgar announced today that the first project is raising funds for a construction loan for a Hilton Garden Inn to be built in close proximity to the University of California at Santa Barbara in Goleta. The second offering is to raise funds to refinance the loan on an existing Vagabond Inn hotel in Glendale. "Hotel Innvestor is pleased to b...
