Sonnenblick-Eichner Company Arranges $26,750,000 of First Mortgage Financing for Two Northern California Hotels
Sonnenblick-Eichner Company | January 10th, 2023
Hilton to Bring First Waldorf Astoria Property to Costa Rica
Hilton | November 15th, 2022
Baird/STR Hotel Stock Index Rose 4.1% in February
STR | March 14, 2022
HENDERSONVILLE, Tennessee, and MILWAUKEE — March 14, 2022 — The Baird/STR Hotel Stock Index rose 4.1% in February to a level of 5,753. Year to date through the first two months of 2022, the stock index increased 0.2%. “Hotel stocks posted gains in February and were relative outperformers for the third consecutive month,” said Michael Bellisario, senior hotel research analyst and director at Baird. “Despite increased stock market volatility and growing geopolitical concerns, investors remained focused on the reopening momentum and improving demand trends as Omicron-related disruptions are in the rearview mirror and corpo...
The Excellence Collection to Invest Over USD $50 Million to Revamp Its Properties in the Caribbean
The Excellence Collection | March 10, 2022
Miami, FL - March 10, 2022 - The high-end hospitality group has announced it will invest over USD $50 million to upgrade the premises and enhance the amenities of its properties in the Caribbean. The disclosed amount will be used for all eight resorts within The Excellence Collection’s portfolio in Cancun, the Riviera Maya, Punta Cana and Montego Bay. Following the success and growing demand for the brand’s most sumptuous category yet, the Beach Villas with a Private Pool, The Excellence Collection will build 12 additional units at Excellence Oyster Bay in Jamaica, almost tripling its current offering to a total of 17 villas once comp...
2020 Travel and Tourism Industry Impact on the U.S. Economy
NTTO | March 9, 2022
The National Travel and Tourism Office’s (NTTO) Travel & Tourism Satellite Account, produced annually by the Bureau of Economic Analysis, is the official U.S. Government estimate of the economic impact of the travel and tourism industry in the United States. The latest TTSA shows that in Calendar Year 2020: Total economic output generated by travel and tourism fell $982.5 billion (-50.1%) from 2019 ($1.96 trillion) to 2020 ($978.4 billion). Among those sectors hardest hit, passenger air transportation services output declined by nearly $214.7 billion in 2020, followed by food services and drinking places/restaurants (dow...
Chatham Lodging Trust Announces Solid Fourth Quarter 2021 Results
Chatham Lodging Trust | February 25, 2022
WEST PALM BEACH, FL — February 25, 2022 — Chatham Lodging Trust (NYSE: CLDT), a lodging real estate investment trust (REIT) that invests in upscale, extended-stay hotels and premium-branded, select-service hotels, today announced results for the fourth quarter ended December 31, 2021. Fourth Quarter 2021 Operating Results Portfolio Revenue Per Available Room (RevPAR) – Increased 93 percent to $92 compared to the 2020 fourth quarter. Average daily rate (ADR) accelerated 36 percent to $141, and occupancy jumped 43 percent to 65 percent for the 40 comparable hotels owned as of December 31, 2021 (excludes one Austin hotel...
U.S. Hotel Development Cost Survey 2021-22
John Berean | February 25, 2022
Each year, HVS researches and compiles development costs from our database of actual hotel construction budgets. This source provides the basis for our illustrated total development costs per room/per product type. HVS has tracked hotel construction budgets throughout the United States since 1976. Download PDF - U.S. Hotel Development Cost Survey 2021-22...
Dual-Branded Canopy by Hilton and Homewood Suites by Hilton Downtown The Gulch Announces Signing, Breaks Ground in Nashville
Hilton | February 24, 2022
The 333-room property will be Hilton’s first dual-branded hotel in downtown Nashville when it opens in 2024 NASHVILLE, Tenn. and MCLEAN, Va. - Today, Hilton announced the signing of and has broken ground on the dual-branded Canopy by Hilton and Homewood Suites by Hilton Nashville Downtown The Gulch, in partnership with Tara Investments. The 11-story property, which will mark Hilton’s first lifestyle hotel in Nashville, is slated for completion in 2024. The development will showcase the city’s first Canopy by Hilton, Hilton’s vibrant, boutique lifestyle hotel brand that provides an authentically local experience. “We are thri...
Sands Completes Sale of The Venetian Resort in Las Vegas
Sands | February 24, 2022
LAS VEGAS, NV - February 24, 2022 - Las Vegas Sands Corp. today announced it has completed the approximately $6.25 billion sale of The Venetian Resort (The Venetian, Palazzo and Venetian Expo) to affiliates of Apollo Global Management, Inc. and VICI Properties Inc. "The opening of The Venetian more than 20 years ago represents the beginning of the company's success. The property, and most importantly, the people who represent it every day will always remain indelible parts of our history," said Las Vegas Sands Chairman and Chief Executive Officer Robert Goldstein. "Looking forward from the sale, we believe our strong balance...
Pebblebrook Hotel Trust Reports 2021 Results
Pebblebrook Hotel Trust | February 23, 2022
HOTEL OPERATING TRENDS Performance improved throughout the year; December 2021 was the strongest month versus 2019 based on RevPAR, Total Revenue, and Hotel EBITDA, led by robust demand at the Company’s resorts and a continuing gradual recovery in business travel Leisure demand remains extremely healthy, with rate premiums expected to continue throughout 2022 Most of the 2022 business groups that canceled in January and February are rebooking in March through June at higher overall average rates Business travel demand is already improving in March and is expected to continue to accelerate its recovery into Q2 Labor shortage...
China’s Travel & Tourism Sector Could Reach CNY 11 Trillion This Year, Says WTTC
WTTC | February 22, 2022
London, UK - February 22, 2022 - New research from the World Travel & Tourism Council (WTTC) has revealed China’s Travel & Tourism sector’s contribution to GDP could reach CNY 11 trillion this year, just 5.2% short of pre-pandemic levels. In 2019, before the pandemic struck, China’s Travel & Tourism sector’s contributed CNY 11.5 trillion to GDP (11.6% of the country’s economy). However, in 2020 the pandemic had a major impact on the sector and Travel & Tourism’s contribution to the Chinese economy fell by a staggering 59.9%, to CNY 4.6 trillion. Latest research from the global tourism body shows that as t...
IHG Releases Preliminary Results for the Year to 31 December 2021
IHG Hotels & Resorts | February 22, 2022
Reported Underlying1 2021 2020 %Change2 %Change REPORTABLE SEGMENTS1 Revenue2 $1,390m $992m +40% +39% Revenue from fee business1 $1,153m $823m +40% +38% Operating profit1 $534m $219m +144% +138% Fee margin1 49.6% 34.1% +15.5%pts Adjusted EPS1 147.0¢ 31.3¢ +370% GROUP RESULTS: Total revenue $2,907m $2,394m +21% Operating profit/(loss) $494m $(153)m NM Basic EPS 145.4¢ (142.9)¢ NM Total dividend per share 85.9¢ - ¢ NM Net debt1 $1,881m $2,529m (26)% KEY METRICS: ...
Beulah and Four Seasons Hotels and Resorts Bringing New Hotel to Melbourne, Australia
Four Seasons Hotels and Resorts | February 21, 2022
Taking luxury to new heights as part of the STH BNK By Beulah development, the Hotel will be located in what is set to be the world’s tallest vertical garden Award-winning Melbourne property developer, Beulah, today announces that Four Seasons Hotels and Resorts, a global leader in luxury hospitality, has been chosen to manage the hotel within its new AUD 2.7 billion development, STH BNK By Beulah. Four Seasons Hotel Melbourne will include 210 rooms, crowning the western tower of STH BNK By Beulah, and will see guests arrive via a Sky Lobby situated on the 63rd floor, boasting panoramic views over Melbourne’s city skyline, beachfr...
Choice Hotels International Reports 2021 Fourth Quarter And Full-Year Results
Choice Hotels | February 17, 2022
ROCKVILLE, MD - February 17, 2022 - Choice Hotels International, Inc. (NYSE: CHH), one of the world's largest lodging franchisors, today reported its results for the three months and year ended December 31, 2021. "The past year was truly remarkable for Choice Hotels, as we have positioned the company to benefit from the acceleration of consumer trends that favor leisure travel, limited-service hotels and longer stay occasions," said Patrick Pacious, president and chief executive officer, Choice Hotels. "The deliberate investments in our brands and our franchisee pricing optimization and merchandizing tools enabled us to capt...
Hyatt Reports Fourth Quarter and Full-Year 2021 Results
Hyatt Hotels Corporation | February 17, 2022
CHICAGO, IL - February 17, 2022 - Hyatt Hotels Corporation ("Hyatt" or the "Company") (NYSE: H) today reported fourth quarter and full-year 2021 financial results. Net loss attributable to Hyatt was $29 million, or $0.26 per diluted share, in the fourth quarter of 2021, compared to net loss attributable to Hyatt of $203 million, or $2.00 per diluted share, in the fourth quarter of 2020. Adjusted net loss attributable to Hyatt was $306 million, or $2.78 per diluted share, in the fourth quarter of 2021, compared to Adjusted net loss attributable to Hyatt of $179 million, or $1.77 per diluted share, in the fourth quarter of 2020. Refer to the ...
Wyndham Hotels & Resorts Reports Strong Fourth Quarter and Full-Year 2021 Results
Wyndham Hotels & Resorts | February 16, 2022
PARSIPPANY, NJ - February 16, 2022 - Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months and year ended December 31, 2021. Highlights include: U.S. RevPAR for the quarter exceeded 2019 levels by 9%, growing 58% versus 2020. System-wide rooms grew 180 basis points year-over-year, including 70 basis points of growth in the U.S. and 350 basis points of growth internationally. Diluted earnings per share for the quarter of $0.52 and net income of $48 million; diluted EPS for the full-year of $2.60 and net income of $244 million. Adjusted diluted earnings per share of $0.69 for the quarter and adjusted...
Hilton Reports Fourth Quarter and Full Year Results
Hilton | February 16, 2022
MCLEAN, VA - February 16, 2022 - Hilton Worldwide Holdings Inc. ("Hilton" or the "Company") (NYSE: HLT) today reported its fourth quarter and full year 2021 results. The following results reflect the material impact that the coronavirus ("COVID-19") pandemic has had on Hilton's business. Highlights include: Diluted EPS was $0.52 for the fourth quarter and $1.46 for the full year, and diluted EPS, adjusted for special items, was $0.72 for the fourth quarter and $2.08 for the full year Net income was $148 million for the fourth quarter and $407 million for the full year Adjusted EBITDA was $512 million for the fourth quarter and $1,...
Bayshore Capital Inc., Crescent Hotels & Resorts Bring New Concept to Hospitality Landscape
Bayshore Capital | February 15, 2022
New Project with Inventive Accommodations Well Underway on Florida’s East Coast DAYTONA BEACH, Fla. (Feb. 15, 2022) – Industry icons Bayshore Capital Inc. and Crescent Hotels & Resorts have joined forces to introduce Max Beach Resort, a new concept in the evolving hospitality landscape. Driven by the combined development and hospitality management expertise and resources of the two companies, Max Beach Resort is set to open this April as the area’s first-ever, professionally managed short-term rental offering featuring enhanced resort amenities for guests. Ideally situated on a stretch of world-famous Atlantic shoreline in Da...
Marriott International Reports Fourth Quarter 2021 Results
Marriott International | February 15, 2022
Marriott International, Inc. (NASDAQ: MAR) today reported fourth quarter 2021 results. Anthony Capuano, Chief Executive Officer, said, “The 2021 fourth quarter capped off a year that showed the incredible resilience of people’s desire to travel and the appeal of our broad portfolio of 30 global brands. We experienced significant progress in global RevPAR[1] recovery in 2021 despite the emergence of new variants and ongoing headwinds from the global pandemic. By the fourth quarter, global RevPAR was 19 percent below 2019 levels, a 40-percentage point improvement from the decline in the first quarter of the year. Global average daily ra...
MGM Resorts International Reports Fourth Quarter and Full Year 2021 Financial and Operating Results
MGM Resorts International | February 10, 2022
LAS VEGAS, NV - February 10, 2022 - MGM Resorts International (NYSE: MGM) ("MGM Resorts" or the "Company") today reported financial results for the quarter and year ended December 31, 2021. "Our record fourth quarter results are a testament to our talented team across the globe, our sharpened focus on operational efficiency and the proven resiliency of demand for the service and experiences that we provide at MGM Resorts," said Bill Hornbuckle, Chief Executive Officer and President of MGM Resorts International. "The strategic milestones we achieved in 2021 position us for further success in 2022, and we remain excited about our lon...
Knowland Meetings Recovery Forecast Identifies Top U.S. Markets to Recover in 2022
Knowland | February 9, 2022
New market forecast capability provides insights to help hospitality industry improve sales and investment decision making ARLINGTON, Va. — Feb. 9, 2022 — Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, announced it has added the ability to filter its U.S. Meetings Recovery Forecast by market, now known as the Top 25 U.S. Meetings Recovery Forecast (MRF25). Access to the data is complimentary and provides the industry with predictive insights into event recovery over the next three years. Click here to view the MRF25. Jeff Bzdawka, CEO, Knowland, said: “The additional da...
Hilton Partners With SCD Group LTD to Expand Portfolio in Greece With Two Hotels
Hilton | February 3, 2022
Pantelikon Athens, Curio Collection by Hilton, expected to open autumn 2024, and Hampton by Hilton Piraeus Mikrolimano, expected to open spring 2024, will be the brands’ first hotels in Greece’s capital ATHENS, Greece and MCLEAN, Va. - Hilton (NYSE: HLT) has today confirmed plans to open two hotels in Athens, as part of a management agreement with affiliates to SCD Group LTD. The greatly historic Pantelikon Athens, Curio Collection by Hilton, a 117-room hotel in the upscale northern suburb of Kifisia, will be Curio Collection by Hilton’s first hotel in mainland Greece when it opens in 2024. Hampton by Hilton Piraeus Mikrolimano, an ...
Virgin Hotels to Debut Two U.K. Hotels & a New-Build Hotel in New York City in 2022
Virgin Hotels | February 3, 2022
MIAMI, Feb. 3, 2022 -- Virgin Hotels, the lifestyle hotel brand by Virgin Group founder Sir Richard Branson, has announced its historic expansion into the United Kingdom this spring with Virgin Hotels Edinburgh, followed by Virgin Hotels Glasgow. The portfolio continues to grow stateside, with the opening of Virgin Hotels New York scheduled for late summer of 2022. Leading the charge is Virgin Hotels' Chief Executive Officer, James Bermingham, and his shining executive team. "Expanding into the United Kingdom is a major and much-anticipated milestone for Virgin Hotels. Our two new hotels in Scotland blend their distinctive perso...
Investing in Training Hotel Employees
Robert Mandelbaum | February 1, 2022
By Robert Mandelbaum Given the challenges U.S. hotels are having attracting and retaining employees, the need to invest in employee training is as great as it has ever been. Unfortunately, training expenditures, like all operating expenses, have been subject to major cuts in response to the extremely reduced levels of revenue incurred during 2020 and 2021. Labor is the single biggest expense within a hotel. In 2019, before COVID-19, the average property in our Trends® in the Hotel Industry survey sample spent 31.3 percent of its total revenue, or 42.4 percent of its total expenses, on labor costs. This includes the salaries, wages, ...
Hospitality Ventures Management Group (HVMG) Adds 16 Hotels to Portfolio in 2021
Hospitality Ventures Management Group | January 31, 2022
ATLANTA, GA — January 31, 2022 — Hospitality Ventures Management Group (HVMG), an Atlanta-based, private hotel investment, ownership and management company, today announced that it added 16 hotels to its nationwide portfolio, bringing it to a total of 56 hotels with approximately 9,000 total rooms under management. “Thanks to the hard work of our team, in terms of number of transactions, 2021 was the best year in our company history,” said Robert S. Cole, president and chief executive officer, HVMG. “While headwinds do remain for our industry, particularly for hotels heavily reliant on corporate and group business, o...
Peachtree Hotel Group Completes Record-Breaking Year With $2.0 Billion of Real Estate Investments
Peachtree Hotel Group | January 31, 2022
ATLANTA, GA – January 31, 2021 – Peachtree Hotel Group (“Peachtree”), a real estate private equity investment manager, announced that its total investment activity for 2021, inclusive of acquisitions, developments, lending and hotel investments, amounted to a record of $2.0 billion in total capitalization through 140 transactions. "We are extremely pleased to have completed an extraordinary year of investment activity," said Greg Friedman, Peachtree's CEO. "Our strategy of investing up and down the capital stack and opportunistically pivoting as markets shift allows us to capitalize on investments during any business cyc...
