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Hospitality Financial Leadership: Why Prioritizing Employee Development Has the Best ROI for Owners Too
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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...
Comcast and Liberty Announce $1.2 Billion Philadelphia Skyscraper with New Four Seasons Hotel
Jim Butler | January 20, 2014
For the most recent update on this topic, click here By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 20 January 2014 Hotel Lawyer on Hotel Mixed-Use. JMBM's hotel lawyers are proud to be the hotel legal and advisory team for the developers on the Four Seasons luxury hotel component of this spectacular project. This is one of the high-profile hotel-retail-office mixed-use projects we have been working on for more than a year. Hotel mixed-use is back! Hotels are being added to projects with retail, residential, office, entertainment and other uses -- and the multiple uses enhance each other...
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 Company Execs: What Keeps Them Up, What Reports are Important, Are They Going Mobile?
Aptech Computer Systems | January 7, 2014
Executives Share Top of Mind Thinking About Priorities, Challenges, and How They Do Business January 7, 2014 - After a year of recovery and growth, hotel company executives took a break to talk about challenges and what is important. Aptech's team spoke with managers from three operators who agree that taming data overload is at the top of their "challenges" list. We interviewed Brian Cornell, CIO for Concord Hospitality; Felicia Matula, Director of Finance for Pinnacle Hotel Management; and Dave Spangrud, Regional VP Operations for Highpointe Hotel Corporation. Hotel companies continuously apply new technology to their operation to inc...
Hotel AG Involved in 125 Hotel Transactions in 2013
Hotel AG | January 6, 2014
ATLANTA - January 6, 2014 - Hotel AG announced today the firm finished the 2013-year having sold or advised on 125 hotel transactions. Of the 125 transactions, 21 were sold during the months of November and December. The number transacted for each brand involved were: Courtyard by Marriott - 13 TownePlace Suites - 5 Choice Brands - 9 Fairfield Inn/Suites - 8 Hampton Inn/Suites - 13 Wyndham Brands - 6 Marriott - 2 Hilton Garden Inn - 16 Other Brands - 13 Residence Inn - 11 Homewood Suites - 6 Independents - 11 SpringHill Suites - 7 IHG - 5 "2013 was a good year for Hotel AG. The transactions were across the spectrum in terms of branding,...
The Rainmaker Group Achieves Recognition, Success and Drives Innovation in 2013
Rainmaker | December 30, 2013
Boosts Customer Satisfaction and Grows Reputation of Progressive Leadership ATLANTA - December 30, 2013 - The Rainmaker Group, the leading provider of pricing, revenue management and profit optimization solutions to the multifamily and gaming/hospitality industries, realized monumental success in 2013. With strong attention to detail and an acute understanding of how and where optimized pricing is evolving, The Rainmaker Group this year successfully launched numerous strategic solutions to better serve the revenue generation needs of its customers. These efforts were recognized through industry-specific accolades naming the firm as adv...
JMBM’s Hotel Lawyers Help Chinese Real Estate Developer Buy 802-room Sheraton Gateway LAX for $96 M
JMBM | December 30, 2013
For the most recent update on this topic, click here By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 30 December 2013 The hotel lawyers of JMBM's Global Hospitality Group® and Chinese Investment Group™ assisted Hazens Investment, LLC, in the company's purchase of the 15-story, 802-room Sheraton Gateway LAX Hotel, located close to Los Angeles International Airport. Hazens Investment is a subsidiary of Shenzhen Hazens Real Estate Group Co. Ltd., one of the top 100 largest construction and development companies in China, based in Shenzhen, China. Hazens Investment and the seller, an affil...
70-Room Sessions Hotel Planned for Bristol, VA
BuildCentral | December 30, 2013
Hotel-Online and BuildCentral Add/Update 98 Hotel Projects to the New Hotel Construction Projects Database Chicago, IL. December 30, 2013 - Hotel-Online and BuildCentral have added or updated 98 hotel projects in the last two weeks to Hotel Construction, a nationwide database of hotel construction projects, openings, and key decision makers (Owner/Developers, Architects and Contractors). These proposed hotels are still in the planning stages. Now is the perfect time to have your product drawn into plans, or offer construction services: Healdsburg Plaza Boutique Hotel (Healdsburg, CA) Phipps Plaza Hotel (Atlanta, GA) Amber Valley We...
Hotels Pay Their Debt By Robert Mandelbaum and Viet Vo
Robert Mandelbaum and Viet Vo | December 17, 2013
In 2009 the average hotel participating in PKF Hospitality Research's (PKF-HR) Trends® in the Hotel Industry survey suffered a staggering 35.4 percent decline in net operating income (NOI). This is the greatest annual decline in profits recorded by PKF-HR in the 77 years the firm has been tracking the performance of U.S. hotels. For U.S. hotel owners it is the cash flow from operations that they rely on to pay their debt obligations. Therefore, owners, and their lenders, were in shock when facing the severe impact of the great recession on the lodging industry. As expected, the number of hotels that were unable to generate sufficient c...
Warning for Hotel Investors Considering Golf Courses: Golf Courses are Different!
JMBM | December 16, 2013
They have different risks and require different skill sets. For the most recent update on this topic, click here By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 16 December 2013 Hotel Lawyer with some insights on buying and developing golf courses. Hotel investors suddenly seem to be buying or building more golf courses. With the right expectations and circumstances, golf courses can make sense -- particularly as an amenity for hotels, residential development and other real estate. But as more hospitality clients look at golf courses, it seems appropriate to consider the drivers of this r...
Groundbreaking Takes Place for Hyatt Regency Galleria in Houston
BuildCentral | December 16, 2013
Hotel-Online and BuildCentral Add/Update 125 Hotel Projects to the New Hotel Construction Projects Database Chicago, IL. December 16, 2013 - Hotel-Online and BuildCentral have added or updated 125 hotel projects in the last two weeks to Hotel Construction, a nationwide database of hotel construction projects, openings, and key decision makers (Owner/Developers, Architects and Contractors). These proposed hotels are still in the planning stages. Now is the perfect time to have your product drawn into plans, or offer construction services: Tyre Casino Resort (Tyre , NY) Doheny Hotel (Dana Point, CA) KY Horse Park Hotel (Lexington, KY)...
Is TRevPAR the Most Effective Metric for Revenue Managers?
Jean Francois Mourier | December 15, 2013
By Jean Francois Mourier There has been a great deal of discussion as of late as to the value of the revenue management metric TRevPar (Total Revenue per Available Room). TRevPAR is calculated by dividing the total net revenues of a property (room revenues plus ancillary revenue streams such as food and beverage, rentals, etc.) by the total available rooms. Many industry experts are saying that TRevPAR is a more valuable metric than RevPAR in determining pricing strategies, but I'm here today to offer a different opinion. TRevPAR is a fantastic metric for accountants, hotel owners and even the general manager, as it helps to determine t...
Pebblebrook Hotel Trust Acquires Radisson Hotel Fisherman’s Wharf and Retail in San Francisco, CA
Pebblebrook Hotel Trust | December 10, 2013
BETHESDA, Md. - December 10, 2013 - Pebblebrook Hotel Trust (NYSE:PEB) (the "Company") today announced that it has acquired the Radisson Hotel Fisherman's Wharf and Retail for $132.0 million. The 355-room hotel, which includes approximately 44,000 square feet of street retail space, is located in the heart of Fisherman's Wharf in San Francisco, CA. The property will be managed by Davidson Hotels & Resorts ("Davidson"). "We're very pleased with our acquisition of the Radisson Hotel Fisherman's Wharf and Retail, located in one of San Francisco's strongest submarkets," said Jon Bortz, Chairman and Chief Executive Officer of Pebblebrook...
Hotel Construction Financing Arranged By Pacifica Capital & Brokerage, Inc.
Pacifica Capital & Brokerage, Inc. | December 9, 2013
DANA POINT, CA: December, 2013 - Chris A. Chiotis, Principal of Pacifica Capital & Brokerage, is pleased to announce his firm arranged the construction and permanent financing for the Hampton Inn & Suites, which is under development in Southern California. Pacifica arranged the financing through one of their many relationship lenders. "Pacifica's entrepreneurial approach and strong network of third party consultants together with their established banking relationships, allowed us to achieve the leverage we wanted and also provide assurance that we would be successful in developing our most recent Hilton product" according to Ch...
Hotel Lawyer: Surge of Activity Creates New Management Agreement Opportunities
JMBM | December 6, 2013
For the most recent update on this topic, click here By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 6 December 2013 Hotel Lawyer on the jump in hotel development and investment activity. These are getting to be pretty exciting times to be in the hotel business. Hotel industry fundamentals have continued to improve since the Great Recession and none of the experts see a particular event or reason that fundamentals will stall. Although occupancy growth rate is slowing in some sectors, ADR growth generally continues to drive greater profits to the bottom line. All this activity creates "man...
Pricing Systems 2.0 – Part Two
Jean Francois Mourier | December 5, 2013
By Jean Francois Mourier Last week, I wrote Part One of this article series, which provides a checklist for hoteliers to determine whether your revenue management system is up to par for 2014. As I'm sure you know, the online and mobile channels are growing rapidly so if your RMS is not optimized for both of these channels, you will be leaving money on the table. Let's take a look at some other items on the checklist! As a reminder, the first three were: 1 - Does your property analyze and provide rates based on historical data, AS WELL AS rate shopping market data? 2 – Does your RMS use pricing parameters to ensure that your rates he...
HCAA Releases Chinese Language Interpretation Guide to the USALI
Hospitality Financial and Technology Professionals (HFTP) | December 4, 2013
Hong Kong (December 4, 2013) - The Hotel Controllers and Accountants Association of Hong Kong (HCAA) is pleased to announce the release of the Chinese language version of the Hong Kong Guide to the 10th Edition of the Uniform System of Accounts for the Lodging Industry (USALI). This edition is a follow-up to the English version which was released in November 2011. The publication is a guide to the widely adopted USALI, tailored made to the business practices of hospitality companies in Hong Kong, and eventually in China. "The objective of the Hong Kong Guide is to educate the local community about the Uniform System and to identify sele...
RFID Systems Provider InvoTech Names Jeff Welles President
InvoTech Systems | December 3, 2013
Industry Veteran to Focus on Customer Success; Will Continue to Leverage Emerging Technologies and Provide Superior Customer Service LOS ANGELES, CA - December 3, 2013 - InvoTech Systems, Inc. appointed Jeff Welles to the post of president. InvoTech is a leading provider of systems that integrate the latest RFID technology to increase profitability for hotels, casinos, hospitals and commercial laundry operators. InvoTech celebrated its 20-year anniversary in 2013 and more than 500 clients in over 20 countries. Welles brings 21 years of experience solving clients' business problems with advanced technologies to his new post. Click here f...
Readying Your Hotel for Sale
HVS Capital Corp | December 3, 2013
With transaction volumes in early 2013 fifty percent ahead of the level in early 2012, many owners today are asking themselves if this is the right time to sell. They see very low cost capital that is abundantly available, contributing to higher values. Yes, interest rates have ticked up from their recent lows, but long term, fixed rate debt is still priced in the low five percent range on a 25 year amortization schedule to 70 percent of value/cost. For buyers, this translates into cash on cash returns in the low to mid teens on almost any deal. After a number of years of living with their properties underwater, sale prices have now inc...
Construction Starts for Microtel Inn & Suites in Kenedy, Texas
BuildCentral | December 3, 2013
Hotel-Online and BuildCentral Add/Update 141 Hotel Projects to the New Hotel Construction Projects Database Chicago, IL. December 3, 2013 - Hotel-Online and BuildCentral have added or updated 141 hotel projects in the last two weeks to Hotel Construction, a nationwide database of hotel construction projects, openings, and key decision makers (Owner/Developers, Architects and Contractors). These proposed hotels are still in the planning stages. Now is the perfect time to have your product drawn into plans, or offer construction services: Sunset/Doheny Hotel (West Hollywood, CA) Port Imperial Hotel Number Two (Weehawken, NJ) Hyatt Pl...
Hotel AG Closes 13 Hotel Transactions in November
Hotel AG | December 2, 2013
ATLANTA - December 2, 2013 - Hotel AG announced today the firm closed 13 hotel transactions during the month of November. The hotels sold consist of 5 Hampton Inn & Suites, 1 Hilton Garden Inn, 1 Residence Inn, 1 Staybridge Suite, 3 AmericInn hotels and 2 independent properties. The clients represented were CMBS servicers, balance sheet lenders, REITs, Asian rim investment groups and private companies. H. Keith Thompson, principal of the firm, commented, "These 13 recent closings were across the board in terms of product type, pricing, buyer profile, seller profile and valuation methodology. This real estate cycle is very diverse an...
Hotel AG Closes a 4-Property Northeast Portfolio
Hotel AG | November 25, 2013
ATLANTA - November 25, 2013 - Hotel AG announced today the firm closed a 4-property Pennsylvania Hilton and Marriott portfolio last week. Hotel AG senior partners involved in the transaction included Andy Broad and Chris Stark. Andy Broad, commented, "This recent sale was the perfect example of the market place we have today in hotel real estate. The seller was a private owner and the buyer was a public REIT, and the transaction met the yield needs of both parties." ...
Hotel AG Closes 6 Hotel Transactions in Last 18 Days
Hotel AG | November 19, 2013
ATLANTA - November 19, 2013 - Hotel AG announced today the firm closed 6 hotel transactions over the past 18 days. The hotels sold consist of a Austin, Texas Hampton Inn & Suites located at the Austin International Airport; a 2-property Hilton portfolio including a Hilton Garden Inn and a Hampton Inn & Suites; a hotel for Wells Fargo located in northern Florida; a hotel in a New England state for a CMBS special servicer; and an independent hotel for Ameris Bank located in the Southeast. Hotel AG partners involved in the transactions were Wendy Blissett, Michael Bernath, Andy Broad, Scott Foster, Tom Huegel, Bill Bowen and Rex Ca...
City Approval for Hermosa Boutique Hotel In California
BuildCentral | November 18, 2013
Hotel-Online and BuildCentral Add/Update 144 Hotel Projects to the New Hotel Construction Projects Database Chicago, IL. November 18, 2013 - Hotel-Online and BuildCentral have added or updated 144 hotel projects in the last two weeks to Hotel Construction, a nationwide database of hotel construction projects, openings, and key decision makers (Owner/Developers, Architects and Contractors). These proposed hotels are still in the planning stages. Now is the perfect time to have your product drawn into plans, or offer construction services: White Sands Resort (Orange Beach, AL) Candlewood Suites (Canton, OH) Port Imperial Hotel and Re...
