HFTP® Acquires Leading Hospitality Industry Brands: Hospitality Upgrade, Hotel-Online, The CIO Summit and The Executive Vendor Summit
Hospitality Financial and Technology Professionals | June 25th, 2024
MSD Partners, L.P. to Acquire Boca Raton Resort & Club From Blackstone Affiliate
MSD Partners | April 22, 2019
NEW YORK and BOCA RATON, Fla., April 22, 2019 -- MSD Partners, L.P. today announced that it has entered into a definitive agreement to acquire the Boca Raton Resort & Club from an affiliate of Blackstone (NYSE: BX). Boca Raton Resort & Club is one of the premier resort destinations and private club facilities in the United States. The property, which was built in 1926, today comprises 1,047 hotel rooms across 337 acres. Its amenities include two 18-hole golf courses, a 50,000 sq. ft. spa, seven swimming pools, 30 tennis courts, a full-service 32-slip marina, 13 restaurants and bars, and 200,000 sq. ft. of meeting space. The prop...
AJ Capital Partners Acquires The Lumen Hotel in Dallas, Texas
AJ Capital Partners | April 22, 2019
Dallas, Tex. – Adventurous Journeys (AJ) Capital Partners announced today that it has acquired the Lumen Hotel in Dallas, Texas. The hotel will continue to operate independently as the Lumen Hotel while undergoing renovations. Once complete in spring 2020, the property will debut as Graduate Dallas, part of the Graduate Hotels® collection. Following the renovation, the hotel will offer 95 guestrooms, a communal lobby, Poindexter coffee shop, a reimagined restaurant and bar, rooftop lounge and upgraded pool courtyard. Originally constructed in 1963, the four-story building has long served Southern Methodist University and the n...
Hospitality Financial Leadership: Negative Flow Thru
David Lund | April 22, 2019
By David Lund One of the most read articles I have written is on the topic of flow thru and how to use it in your financial statements. Understanding flow thru is not something that comes easily to most people immediately, but once you look at it and do the calculation it usually clicks. Once it drops in place you have got it for good. To take things one step further in this piece I am going to discuss negative flow thru. Negative flow thru or retention is something that most people in North America have not had to deal with very much in the past decade. We have just crossed over a massive stretch of growth in our industry that was mark...
The Westin Long Beach Launches $23 Million Renovation Set for Completion Summer 2019
Westin Long Beach | April 22, 2019
Long Beach, Calif. (April 2019) – The Westin Long Beach, 333 E Ocean Blvd, has officially kicked off a $23 million renovation, which will introduce one of Long Beach's hottest new dining concepts, Navy Proof Food & Spirits, the much-anticipated coffee culture hub, Bluestone Lane, as well as a refreshed lobby and revitalized guest rooms to the community. Set to be unveiled in summer 2019, all of the designated spaces reflect a modern, sophisticated style reflecting the property's vibrant California coastline setting. "This is such an exciting time to be in Long Beach. There is an abundance of growth as well as an overall elevat...
Martin Resorts Upgrades The Paso Robles Inn With OpenKey
OpenKey | April 22, 2019
DALLAS, TEXAS (April 23, 2019) – Martin Resorts has selected OpenKey to provide mobile check-in, mobile key and mobile check-out at the Paso Robles Inn. The hotel's owner and manager, Martin Resorts, currently manage a collection of premier hotels along California's Central Coast. OpenKey is the industry standard for universal mobile key in hotels. Located on the downtown square in charming Paso Robles, CA the full service hotel combines the charm of a wine country retreat with the latest hotel technology to give guests an unrivaled experience. In addition to offering the safety and convenience of mobile keyless entry, The Paso Ro...
Pinnacle Hospitality Partners to Open 134-Key SpringHill Suites by Marriott in Brentwood, Tennessee
SpringHill Suites by Marriott | April 22, 2019
Brentwood, TN– April 22, 2019 – Marriott International announced today that the SpringHill Suites by Marriott in Brentwood, Tennessee is set to open on Tuesday, April 30, 2019. Located at 7109 Town Center Way, the all-suite hotel will operate as a Marriott franchise, owned and managed by Pinnacle Hospitality Partners, LLC of Nashville, Tennessee. General Manager Craig Barnett and Area Director of Sales Marti Timmons lead the management team at the property for Pinnacle Hospitality Partners. The SpringHill Suites Nashville Brentwood is just 14 miles from Nashville International Airport, and 15 minutes from downtown Nashville....
Embassy Suites by Hilton Tuscaloosa Downtown receives Connie Pride Merit Award for the second year in a row!
Valor Hospitality Partners, LLC | April 19, 2019
Kemmons Wilson Jr., along with Valor Hospitality Partners, announced today the company's Embassy Suites by Hilton Tuscaloosa Downtown was once again recognized for outstanding performance from among more than 250 Embassy Suites. The Embassy Suites Downtown Tuscaloosa was honored with the Connie Pride Merit Award for being ranked among the top 3% of the Embassy Suites by Hilton properties worldwide. Embassy Suites by Hilton Tuscaloosa Downtown opened its doors in March of 2015 and has been ranked among the top 10 Embassy Suites by Hilton each year thereafter. ...
Choice Hotels Signs Franchise Agreements With Organizations Led By African-American Women to Develop Six Hotels Across US and Caribbean
Choice Hotels | April 18, 2019
ROCKVILLE, Md., April 18, 2019 -- Businesses owned by women of color grew three times faster than other women-owned businesses in the United States last year, yet it is estimated by the National Association of Black Hotel Owners, Operators and Developers (NABHOOD) that less than one percent of hotels are owned by African-American women. Choice Hotels International, Inc.'s (NYSE: CHH) one-of-a-kind emerging markets franchise development team is helping to bridge this gap and extend the opportunity of hotel ownership to underrepresented populations—most recently by awarding six franchise agreements to organizations led by Africa...
Marriott Plans World’s Tallest Modular Hotel Set to Rise in New York City This Fall
Marriott International, Inc. | April 18, 2019
The world's tallest modular hotel – which will carry a brand of Marriott International (NASDAQ:MAR) – is on track to be stacked in late fall in New York City with prefabricated and pre-furnished guestrooms. Once erected over a 90-day period, the 360-foot-tall tower will represent a milestone for Marriott's ongoing initiative to encourage hotel developers in North America to embrace modular for new construction projects. To be topped with a modular roof and modular rooftop bar, the world's tallest modular hotel is expected to open in late 2020 as the AC Hotel New York NoMad. "In North America, the construction process hasn't ...
The Kessler Collection Officially Breaks Ground on Grand Bohemian Hotel Greenville
The Kessler Collection | April 18, 2019
ORLANDO, Fla., April 18, 2019 -- On Wednesday, April 17 at 10:00 a.m., The Kessler Collection, a portfolio of nine passionately created and artistically inspired boutique hotels and restaurants, officially broke ground on the highly anticipated Grand Bohemian Hotel Greenville. During the groundbreaking ceremony, local dignitaries including Mayor Knox White and interim city manager and director of economic development, Nancy Whitworth, and key executives from The Kessler Collection recognized the dedication and vision for the project. Key development partners area vice president of full service franchise of Marriott International, Richar...
Summit Hotel Properties Completes Sale of Six Hotels for $135 Million
Summit Hotel Properties | April 18, 2019
AUSTIN, Texas, April 18, 2019 -- Summit Hotel Properties, Inc. reported today that it has completed the disposition of six hotels totaling 815 guestrooms for an aggregate gross sales price of $135.0 million which resulted in an estimated net gain of $36.6 million. The portfolio of six hotels sold included: The aggregate gross sales price of $135.0 million, plus estimated future capital improvements, represented a 12.8x EBITDA multiple and 6.9 percent capitalization rate for the trailing twelve months ended March 31, 2019. The Company estimates that the hotels would have contributed approximately $9.5 million of EBITDAre through the rem...
PM Hotel Group Selected to Manage New TownePlace Suites by Marriott in Austin, Texas
PM Hotel Group | April 18, 2019
Chevy Chase, MD. – (April 18, 2019) – PM Hotel Group, one of the industry's leading hotel management companies, has been selected to operate the new TownePlace Suites by Marriott in Austin, Texas. This new hotel represents the first TownePlace by Marriott property in the PM Hotel Group portfolio and further expands the company's relationship with Marriott International. "We are thrilled to have been selected to manage the TownePlace Suites- Austin, which expands our footprint in Texas," said Joseph Bojanowski, President of PM Hotel Group. "Austin is a rich and exciting city, and with this new project we are thrilled to be br...
Columbia Sussex Completes MultiMillion Renovation of Dallas Marriott Las Colinas
Columbia Sussex | April 18, 2019
CRESTVIEW, KY (April 18, 2019) – – Columbia Sussex, one of the largest Marriott franchisees in the country, continues its aggressive renovation program to at least nine of its Marriott owned and operated properties, and has completed a multi-million dollar renovation of its popular Dallas Marriott Las Colinas. Noted for its proximity to the area's convention center, but also its location across the street from the new Live Nation Toyota Music Factory and dining and shopping in the Metroplex, the hotel has hosted entertainers such as Chris Isaak and Steely Dan, acclaimed actresses such as Geena Davis and Carrie Fisher, and mo...
Brands Performance Update
Rodney G. Clough | April 18, 2019
By Rodney G. Clough The following article illustrates the 2018 RevPAR levels across four categories, from the top RevPAR earners to the low end; we note that the statistics for this article, inclusive of occupancy and average daily rate (ADR), were pulled from the various 10-K filings of the brands on their corporate websites. 2018 RevPAR, Top Ten Source: 10K filings Ritz-Carlton led the pack in RevPAR, with W Hotels, Waldorf Astoria, and Park Hyatt not too far behind. It should be noted that Four Seasons does not disclose brand averages. Occupancy levels from the above group ranged from a low of 71.4% (Waldorf Astoria) to a high of 82....
Fortuna Realty Group Plans Spring Opening of Hotel Hendricks in the Heart of Manhattan
Fortuna Realty | April 18, 2019
New York, NY (April 18, 2019) – Soaring twenty-seven stories over Fifth Avenue, Hotel Hendricks is the stylish new addition to Fortuna Realty Group's collection of Manhattan hotels. The property and its 176 guestrooms are located just steps away from the Fashion District and Bryant Park. With interiors by LA-based interior designer Marcello Pozzi, the hotel and its 176 guestrooms boast unparalleled views of the Empire State Building and the cityscape. With two rooftop bars and a Latin-infused restaurant, Hotel Hendricks is set to be the new Midtown hotspot for locals and travelers alike. "We are thrilled to introduce Hotel Hendric...
HSMAI’s Curate Event Explores AI and Innovation
HSMAI | April 18, 2019
Executive Insights Forum Convenes Delegates from Organizational Members (McLean, VA, April 18, 2019) Hospitality industry senior executives from sales, marketing, and revenue management disciplines convened for Curate: An HSMAI Executive Insights Forum, on March 26, 2019 at Thompson Nashville in Nashville, Tennessee. The event, exclusive to companies that are Hospitality Sales and Marketing Association International (HSMAI) organizational members, generated thought-provoking conversations on issues of interest and relevance to all hospitality industry professionals. "Spring Curate 2019 was a huge success by any measure," said HSMAI Pres...
Give Yourself a Round of Applause…
Vertical Booking | April 18, 2019
By Mark Lewis-Brown, CEO & President of Vertical Booking USA It's an exciting time for you, as a hotelier. Why, you ask? Because hotels are making huge leaps in taking back bookings from the OTAs. According to Phocuswright, "direct bookings accounted for around 49% of U.S. hotel and lodging online gross bookings, versus OTAs at 51%" last year. And here's some even better news… Phocuswright predicts that direct bookings will increase to a 50% share by 2022! Can you imagine that?! For the first time, possibly ever (since the invention of the Internet), hotels will have greater control over their own bookings and revenues. And h...
Premier Palace Hotel Treats Guests Like Diamonds
PHNR | April 18, 2019
Kyiv, Ukraine is a city in between. In between old and new. In between modern and classic. In between past and present. I recently returned from a balmy mid- April trip to attend CISOLAR 2019, 8th SOLAR ENERGY Conference and Trade Show of CE. Since it wasn't my first time visiting Kyiv, I decided to bring some friends. I wanted to impress them and show them the charm, elegance and European influence of Kyiv. And I think I did. We had the pleasure of staying at one of the most charming hotels in the city, the Premier Palace Hotel. The Premier Palace Hotel is part of The Kyiv Hotel Collection which boasts an impressive collection of upsca...
AAHOACON 19: dormakaba Delivers Total Enterprise Solutions and Services for Architects, Designers and Developers
dormakaba | April 18, 2019
At AAHOACON 19 in San Diego, CA Visit dormakaba in Booth #1513 April 24-27, 2019 at the San Diego Convention Center Visit AAHOACON Booth #1513 to Learn How dormakaba's Architectural Consultation and New Construction Specification Services Simplify the Development Process MONTREAL, QC, CANADA – April 18, 2019 – dormakaba, leader in access control systems with the secure Saflok™ and Ilco™ electronic door locks, will present AAHOACON attendees with an exciting new suite of total enterprise hospitality solutions and services for architects, designers, developers and property managers. dormakaba expands product and s...
WH&LA; President/CEO receives the Governors Legacy Award
Wisconsin Hotel & Lodging Association | April 18, 2019
WH&LA President/CEO receives the Governors Legacy Award Governor Tony Evers presents tourism industry honor to Trisha Pugal at the Wisconsin Governor's Conference BROOKFIELD, WI (March 18, 2019) – Trisha Pugal, President/CEO of the Wisconsin Hotel and Lodging Association (WH&LA) received the Governor's Tourism Legacy Award. The Governor's Tourism Legacy Award is presented annually to an individual who has shown a long-lasting and permanent contribution to the industry over the years. Trisha has served as the President & CEO of the WH&LA – the sixth largest state lodging association in the country - since 1994...
JW Marriott Cancun Resort & Spa Unveils Reimagined Guestrooms Infused with Modern Design Elements
April 18, 2019
The hotel's evolved Mayan influences provide guests with the ultimate luxury experience in the Mexican Caribbean The JW Marriott Cancun Resort & Spa will celebrate the completion of its highly anticipated renovation in early June, which includes an extensive transformation to all 447 lavish ocean-facing guestrooms and suites. The hotel's multi-million dollar restoration will provide travelers with the highest degree of luxury service, embracing its ideal beachfront location and introducing modern elements complemented by local Mayan flair. "We are excited to introduce JW Marriott Cancun Resort & Spa's reimagined look to our gue...
The Queens Hotel in Canada sees 20% growth in revenue with Hotelogix
Hotelogix | April 18, 2019
Hotelogix, a leader in cloud-based Property Management Systems has announced that the adoption and efficient use of its PMS has helped The Queens Hotel in Canada to see a 20% rise in its revenue. This significant growth in revenue is a result of a 20% increase in OTA bookings and 10% increase in direct bookings. Originally opened as Queen's Motor Hotel back in 1958 in New Westminster, the property was a local favorite until it closed its doors in 2015. Now under new ownership, The Queens Hotel is a restored historic boutique property offering its guests an inviting, comfortable and relaxing environment to enjoy their stay. With several ...
Can Artificial Intelligence Replace Human Intelligence in Hospitality Revenue Management?
Hotelogix | April 18, 2019
A lot has been said in the recent past about revenue managers and artificial intelligence and whether revenue managers in hospitality need to panic about being replaced by AI-driven tools, and so on. Can a revenue management tool ever actually replace the human intelligence that a hospitality revenue manager brings to the table? I feel we need to dig a little deeper and explore a few related concepts, which could help us get a better grasp of ideas like AI replacing humans in revenue management in the near future. It is, no doubt, a sensational debate, but we hope to discuss the finer details of why this debate is premature and how. The...
CBRE Arranges Sale of the Hyatt Place Emeryville/San Francisco Bay Area
CBRE | April 17, 2019
CBRE has announced the sale of the Hyatt Place Emeryville/San Francisco Bay Area, a 175-unit hotel located in Emeryville. Henry Bose and Mark McDermott of CBRE Hotels in San Francisco represented the seller in the transaction. Opened in 2016, the six-story hotel contains 175 units and enjoys a premier location in the vibrant Bay Street lifestyle center, surrounded by major corporate employers, such as Pixar, Novartis, Peet's Coffee corporate office and the Joint Bio Energy Institute. Hyatt Place offers visitors access to a fitness center, a patio with fire pits, a business center and a total of 150 parking spaces, along with sweeping vi...
