Brandt Hospitality Group Getting Great Results From Accounting Software Partner
Aptech | June 5th, 2024
Hospitality Financial Leadership: Why Prioritizing Employee Development Has the Best ROI for Owners Too
David Lund | March 27th, 2023
Hyatt Reports First Quarter 2023 Results
Hyatt Hotels Corporation | May 5, 2023
CHICAGO (May 4, 2023) - Hyatt Hotels Corporation ("Hyatt" or the "Company") (NYSE: H) today reported first quarter 2023 financial results. Highlights include: Net income was $58 million in the first quarter of 2023 compared to net loss of $73 million in the first quarter of 2022. Adjusted net income was $45 million in the first quarter of 2023 compared to Adjusted net loss of $36 million in the first quarter of 2022. Diluted EPS was $0.53 in the first quarter of 2023 compared to $(0.67) in the first quarter of 2022. Adjusted Diluted EPS was $0.41 in the first quarter of 2023 compared to $(0.33) in the first quarter of 2022. ...
IHG Shares Q1 2023 Trading Update
IHG Hotels & Resorts | May 5, 2023
Highlights Q1 group RevPARa +33% vs 2022, with Americas +18%, EMEAA +64% and Greater China +75% Q1 group RevPAR +6.8% vs 2019, with Americas +11.1%, EMEAA +9.7% and Greater China (9.1)% Average daily rate +11% vs 2022, +10% vs 2019; occupancy +10%pts vs 2022, (2)%pts vs 2019 Gross system size growth +5.8% YOY, +0.9% YTD; opened 8.4k rooms (45 hotels) in Q1, ahead of 2022 Net system size growth +4.2% YOY on an adjustedb basis, +0.4% YTD Global system of 915k rooms (6,179 hotels); 66% across midscale segments, 34% across upscale and luxury Signed 16.5k rooms (108 hotels) in Q1, in-line with 2022; global pipeline of 287k...
Marriott International Reports First Quarter 2023 Results and Raises Full Year Outlook
Marriott International, Inc. | May 2, 2023
Marriott International, Inc. (NASDAQ: MAR) today reported first quarter 2023 results. Anthony Capuano, President and Chief Executive Officer, said, “We are off to a great start in 2023. First quarter worldwide RevPAR[1] grew 34 percent year over year, with meaningful gains in both occupancy and average daily rate. International markets were particularly robust, with RevPAR growth of 63 percent. The lifting of travel restrictions throughout Asia Pacific, particularly in Greater China, significantly boosted first quarter demand in the region. “In the U.S. & Canada, we saw solid demand across the leisure and group segments in the...
Wyndham Hotels & Resorts Reports Strong First Quarter 2023 Results
Wyndham Hotels & Resorts | April 27, 2023
Company Grows Development Pipeline by 11% and Global RevPAR by 12%; Raises Full-Year 2023 Outlook PARSIPPANY, N.J., April 27, 2023 -- Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months ended March 31, 2023. Highlights include: Global RevPAR grew 12% compared to first quarter 2022 in constant currency. U.S. RevPAR grew 4% compared to first quarter 2022. System-wide rooms grew 4% year-over-year, including 1% of growth in the U.S. and 9% of growth internationally. Development pipeline grew 11% year-over-year to 226,000 rooms, and signings increased 7%, excluding ECHO Suites Exte...
Hilton Reports 2023 First Quarter Results; Raises Full Year Outlook
Hilton | April 26, 2023
MCLEAN, VA - Hilton Worldwide Holdings Inc. ("Hilton" or the "Company") (NYSE: HLT) today reported its first quarter 2023 results. Highlights include: Diluted EPS was $0.77 for the first quarter, and diluted EPS, adjusted for special items, was $1.24 Net income was $209 million for the first quarter Adjusted EBITDA was $641 million for the first quarter System-wide comparable RevPAR increased 30.0 percent, on a currency neutral basis, for the first quarter compared to the same period in 2022 System-wide comparable RevPAR increased 8.0 percent, on a currency neutral basis, for the first quarter compared to the same period in 2...
Hospitality Financial Leadership – Why Technology Has the Hotel Business Bootstrapped
David Lund | April 24, 2023
By David Lund Bootstrapping is a statistical metric that uses random sample replacements. That definition is not for me, so bootstrapping also has a broader slang meaning that most people get. It means you are stuck or at least unable to take big strides to alleviate or remove the problem that is literally at your feet. In the hotel world it is the operational technology stack that has us all bootstrapped. That is what this piece is all about. How we find ourselves in this predicament and how we might be able to literally run away from it. To understand and begin to solve this problem we need to look at our structure. In the broad...
Travel and Tourism Sector Deal Activity Down 40.7% YoY in Q1 2023, Finds GlobalData
GlobalData | April 17, 2023
A total of 179 deals* were announced in the global Travel and Tourism sector during the first quarter (Q1) of 2023, which is a 40.7% decline compared to the announcement of 302 deals during the same period in 2022, according to GlobalData, a leading data and analytics company. All the deal types under coverage witnessed a considerable year-on-year (YoY) decline in deal volume in Q1 2023. The numbers of merger & acquisitions (M&A), venture financing, and private equity deals fell by 42.9%, 29.4% and 50% during Q1 2023 compared to Q1 2022, respectively. Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Deal activity in t...
Thynk Raises $13 Million of Series A Funding to Drive Innovation in Verticalized CRM for the Hospitality Industry
Thynk | April 13, 2023
End-to-end provider of multi-property sales and operation solutions earns Series A funding for further investment in accelerated product development and global expansion strategies. Brussels & New York - April 13th, 2023 – Thynk, a global provider of advanced technology solutions for data-driven hotel sales and operations management, today announced details on its latest successful round of investment, resulting in $13 million received in Series A funding. The injection of capital combined with Thynk’s impressive revenue growth will further fuel the company’s accelerated R&D efforts as well as its ongoing global expansion, wi...
What Opportunities Will You Find at Meet the Money?
Jim Butler | April 6, 2023
By Jim Butler and the Global Hospitality Group The energy is building as we prepare for Meet the Money’s return in May! Our registrants can look forward to an exciting conference structured around networking, dealmaking, and gathering insight from the industry’s best minds. There are plenty of opportunities in today’s hospitality industry for those seeking them, and Meet the Money is an ideal place to start looking. Who will you meet, and what possibilities will you find? Hotel owners, operators, developers, lenders and investors will come together at this year’s conference to build networks, resolve challenges, find financin...
She Has a Deal Announces 2023 Pitch Competition Finalists
She Has a Deal | April 6, 2023
McLean, Va., April 6, 2023 — Officials of She Has a Deal today announced the five finalist teams of the Early Career track selected to advance to the final round of SHaDPitch 2023. The annual hotel investment pitch competition allows teams of early career women to compete for the prize of $50,000 of equity in SHaD’s Prosperity Fund I, following the conclusion of a virtual, preliminary round of pitching. The goal of She Has a Deal is to increase the number of women owning and developing hotels. The organization is an ecosystem that offers inspiration and education through its EdTech platform to channel the power of collaboration and men...
H&LA’s Takeaways From the Hunter Hotel Investment Conference
Adam Zarczynski | March 31, 2023
By Adam Zarczynski, CHIA H&LA’s Adam Zarczynski attended the Hunter Hotel Investment Conference in Atlanta in March. Here are some key highlights from the conference: Optimism could be found, although many leaders cautioned the industry is still facing significant challenges. While hotels continue to achieve strong KPI’s in many markets, inflation and high interest rates have slowed down the construction pipeline in recent months. Additionally, hotel sales activity has also been impacted as sellers continue to search for strong returns and buyers are looking to acquire assets at lower prices due to the issues with financing. O...
Meet the Money 2023 Program Now Available!
Jim Butler | March 27, 2023
By Jim Butler and The Global Hospitality Group Hotel Lawyers | Authors of www.HotelLawBlog.com The Meet the Money program is now available on MeetTheMoney.com – take a look and see who’s speaking and what topics they’ll be exploring. Meet the Money speakers don’t just come to the conference to share their perspectives; they also come to network with attendees. You can develop relationships, explore partnerships and ask questions one-on-one with our expert panelists and presenters, setting up opportunities that will take you through 2023 and beyond. This year’s program will include: • Investment boot camps covering d...
Hospitality Financial Leadership: Why Prioritizing Employee Development Has the Best ROI for Owners Too
David Lund | March 27, 2023
By David Lund A lot has been said about why we have such a labor crisis in hospitality. Some would say it is no wonder because we have forgotten – or better still allowed – the forces that be to drive the agenda around how we invest in and manage our hotels. So how did we get into this mess, what is the solution, and the best part – how can it pay off? First of all, to understand how to fix a problem one person once said you need to understand what the problem is and why we have that problem in the first place. The problem is people do not want to work for a company, owner or brand that is not loyal to them. What our industry d...
Ray Regan Joins Paramount Lodging Advisors Team
Paramount Lodging Advisors | March 23, 2023
ALBUQUERQUE, NM – The Paramount Lodging Advisors (PLA) team is pleased to announce Ray Regan as their newest Associate. Ray is joining fellow PLA team member, Michael Sheppard in the New Mexico office and will be focusing on the southwestern region of the United States. Ray has a successful background in both individual and portfolio hospitality and commercial transactions in the southwestern market. “I am thrilled to extend the invaluable experience and resources of the Paramount Lodging Advisors platform to the benefit of existing and prospective clients across New Mexico and the broader SW region,” stated Regan. Ray can be c...
Baird/STR Hotel Stock Index Fell 2.5% in February
Baird | March 20, 2023
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index fell 2.5% in February to a level of 5,541. “Hotel stocks – just like the broader market – pulled back in February as the focus turned to earnings and initial 2023 outlooks,” said Michael Bellisario, senior hotel research analyst and director at Baird. “The global hotel brand stocks, while down slightly during the month, outperformed the S&P 500 on the heels on strong fourth quarter earnings reports and guidance that matched expectations; hotel REITs were weaker and relatively underperformed as investors focused on somewhat mixed fourth quarter earnin...
C-PACE Update: Global Hospitality Group® Completes $172M in C-PACE Transactions for Hotel and Other Real Estate Projects in 2022
Jim Butler | March 15, 2023
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com The Global Hospitality Group of Jeffer Mangels Butler & Mitchell LLP (JMBM) is pleased to announce the completion of $172 million in C-PACE (Commercial Property Assessed Clean Energy) financing transactions for the year 2022. This total includes over $97 million in hotels and condos, more than $58 million in multifamily, and $16 million in senior living facilities. C-PACE is a low-cost, nonrecourse financing that creates a lien on the real property and is repaid through property taxes. It first emerged as a technique for funding energy...
Aptech’s Enterprise Accounting Software Scores BIG With Hoteliers Across All Segments
Aptech Computer Systems Inc. | March 14, 2023
Users rank PVNG by Aptech 98 out of 100 for ease of use, ROI, implementation and customer support PITTSBURGH, March 14, 2023 — Aptech was a finalist in the Hotel Tech Report “Best Finance & Accounting Software” 2023 popularity index. Although the provider of hospitality financial management solutions narrowly missed 1st place by a mere 2 points, the company said more than 100 reviews by users of its PVNG enterprise accounting solution say it is No. 1. “We certainly feel like winners, especially since our customers made it abundantly clear that in their eyes Aptech is ‘the best’ hotel accounting software on the market,”...
Completion Stage Underway for the 12th Revised Edition of the Uniform System of Accounts for the Lodging Industry (USALI)
AHLA | February 28, 2023
The revision to the lodging industry’s authoritative financial and operating reporting standards has been led by the Global Finance Committee, sponsored by HFTP and AHLA. The Global Finance Committee (GFC), jointly sponsored by Hospitality Financial and Technology Professionals (HFTP®) and the American Hotel & Lodging Association (AHLA), have restarted its work on the 12th Revised Edition of the Uniform System of Accounts for the Lodging Industry (USALI). The independent group of global financial leaders from the most prominent U.S. and international hotel brands, operators, owners and other industry authorities met January 3...
Choice Hotels International Reports 2022 Fourth Quarter and Full-Year Results
Choice Hotels International, Inc. | February 20, 2023
Domestic RevPAR accelerated in fourth quarter to 20.4% versus 2019; full-year net income and adjusted EBITDA surpassed 2019 levels by 49% and 28%, respectively ROCKVILLE, Md., Feb. 20, 2023 -- Choice Hotels International, Inc. (NYSE: CHH), one of the world's largest lodging franchisors, today reported its fourth quarter and full-year 2022 results. "2022 was a landmark year for Choice Hotels, in which we drove step function growth with adjusted EBITDA surpassing 2019 levels by 28%. We generated significant organic growth over 2021 and acquired the Radisson Hotels Americas brands in August, which has accelerated our long-term growth po...
Wyndham Hotels & Resorts Reports Strong Fourth Quarter and Full-Year 2022 Results
Wyndham Hotels & Resorts | February 20, 2023
PARSIPPANY, N.J., Feb. 20, 2023-- Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months and year ended December 31, 2022. Highlights include: Global RevPAR grew 15% compared to fourth quarter 2021 in constant currency, a 300 basis point improvement sequentially, representing 116% of 2019 levels; full-year global RevPAR grew 20% year-over-year in constant currency. U.S. RevPAR grew 5% compared to fourth quarter 2021, a 300 basis point improvement sequentially, representing 115% of 2019 levels; full-year U.S. RevPAR grew 12%. System-wide rooms grew 4% year-over-year, including 1% in the U.S. and 9% i...
Hyatt Reports Fourth Quarter and Full Year 2022 Results
Hyatt Hotels Corporation | February 20, 2023
Record Cash Flow from Operations of $674M; Net Rooms Growth of 6.7% Exceeds Expectations CHICAGO (February 20, 2023) - Hyatt Hotels Corporation ("Hyatt" or the "Company") (NYSE: H) today reported fourth quarter and full year 2022 financial results. Highlights include: Net income was $294 million in the fourth quarter and $455 million for the full year of 2022. Adjusted net income was $278 million in the fourth quarter and $365 million for the full year of 2022. Net income in the fourth quarter and for the full year of 2022 includes a non-cash benefit of $250 million due to the release of a valuation allowance on U.S. federal and ...
What Is an Occupancy Rate?
STR | February 17, 2023
Occupancy rate is one of the global hotel industry’s foundational performance metrics, showing the percentage of rooms occupied in a property, segment or geographic area for any given time. The objective of successful revenue management is to achieve the optimal occupancy level for driving growth in revenue per available room (RevPAR) and profitability. Factors that influence occupancy rate There is a wide range of factors that can impact occupancy levels in a property, market, submarket, etc. For example, the presence of events can lead to surges in demand, which in turn increases occupancy levels. Major concert tours in Dublin...
Financial Future Is Bright at the NOUN Hotel
Aptech Computer Systems Inc. | February 15, 2023
Gameday or weekdays its ‘Aptech All the Way’ for the newest boutique hotel in Norman adjacent to the University of Oklahoma PITTSBURGH, February 15, 2023 — When the NOUN Hotel in Norman, Okla., recently opened adjacent to the University of Oklahoma campus, PVNG by Aptech was there to power its Accounts Payable, Accounts Receivable, General Ledger, Statistics, Financials, and Bank Reconciliation processes. Choosing a financial management solution for a new hotel can be a daunting task, but for management of the NOUN the choice was easy due Aptech’s user-friendliness and exceptional support. “Opening a new hotel comes with plent...
Hilton Reports Fourth Quarter and Full Year Results
Hilton | February 14, 2023
MCLEAN, VA - Hilton Worldwide Holdings Inc. ("Hilton" or the "Company") (NYSE: HLT) today reported its fourth quarter and full year 2022 results. Highlights include: Diluted EPS was $1.21 for the fourth quarter and $4.53 for the full year, exceeding the high end of guidance Diluted EPS, adjusted for special items, was $1.59 for the fourth quarter and $4.89 for the full year, exceeding the high end of guidance Net income was $333 million for the fourth quarter and $1,257 million for the full year, exceeding the high end of guidance Adjusted EBITDA was $740 million for the fourth quarter and $2,599 million for the full year, excee...
