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
U.S. Lodging Outlook Good Through 2020, Economic “Blip” Causes Slowdown In 2021 Before Returning to Positive Growth for 2022
CBRE Group, Inc. | February 25, 2019
Atlanta – February 25, 2019 – A favorable economic outlook will lead to continued growth in U.S. hotel revenues and profits through 2020. However, an economic slowdown in 2021 will cause a short-lived softening of lodging industry fundamentals that year. According to the March 2019 edition of Hotel Horizons®, CBRE Hotels Americas Research is forecasting U.S. hotel rooms revenue per available room (RevPAR) to increase by 2.5 percent in 2019 and an additional 2.0 percent in 2020. However, for 2021, CBRE is projecting a slight decline in RevPAR of 0.6 percent. Fortunately for hoteliers, that immediately is followed by 1.4 p...
Pebblebrook Hotel Trust Completes Sale of Hotel Palomar Washington, DC for $141.5 Million
Pebblebrook Hotel Trust | February 25, 2019
BETHESDA, Md. -- Pebblebrook Hotel Trust (NYSE: PEB) (the "Company") today announced that it has closed on the sale of the 335-room, Hotel Palomar Washington, DC for $141.5 million. The sale closed on February 22, 2019. The sale price of $141.5 million reflects a 14.9x EBITDA multiple and a 5.9% net operating income capitalization rate (after an assumed annual capital reserve of 4.0% of total hotel revenues) based on the hotel's operating performance for 2018. When combined with the recently announced sale of The Liaison Capitol Hill, the aggregate sales proceeds of $252.5 million for these two sales reflect a 15.7x EBITDA multiple and ...
Choice Signs With Equinox Hospitality to Develop Five Sleep Inn and MainStay Suites Properties
February 25, 2019
ROCKVILLE, Md., Feb. 25, 2019 -- Choice Hotels International, Inc. (NYSE: CHH) has signed agreements with Equinox Hospitality to develop three dual-brand Sleep Inn and MainStay Suites properties and two stand-alone Sleep Inn hotels. These midscale hotels will be built in the Phoenix metropolitan area and across California, and the first hotel is set to open in 2021. "Choice offers hotel developers proven midscale brands that appeal to guests across the country," said Brian Quinn, vice president, head of development, new construction brands, Choice Hotels. "Strong demand for the Sleep Inn and MainStay Suites brands is clea...
Founder of Extended-Stay, Jack DeBoer, Honored With ISHC Pioneer Award at ALIS
ISHC | February 25, 2019
Los Angeles (21 February 2019): The International Society of Hospitality Consultants (ISHC) in partnership with the Americas Lodging Investment Summit (ALIS) recognized Jack DeBoer, the founder of extended-stay, with the prestigious Pioneer Award. Andrea Belfanti, Executive Director of ISHC, commented, "Jack DeBoer is extremely deserving of this award and ISHC is honored to be able to give it to him. As the pioneer of the extended-stay concept over 40 years ago, his vision has forever changed the landscape of the hospitality industry. Today the extended-stay segment is even more relevant to our industry than ever before and continues to...
Accor Expands in the Americas With Planned 2021 Opening of SO/ Los Cabos Hotel & Residences
SO/ | February 25, 2019
Toronto, February 22, 2019 – Accor announced the continued expansion of its luxury portfolio in the North and Central American region with the introduction of the vibrant and playful SO/ Hotels & Resorts luxury brand in Los Cabos, Mexico. Slated to open at the end of 2021, SO/ Los Cabos Hotel & Residences will be an exciting, fashionable and luxurious new beachfront hotel and residential address located on the renowned Baja California Peninsula on the Pacific Coast of Mexico. The first SO/ property in Mexico, and the second in the region, the avant-garde hotel & residences will boast stylish interiors and décor ...
KASA Hotel Riviera Maya Set for June 2019 Opening in Puerto Aventuras on the Riviera Maya
KASA Hotel Collection | February 25, 2019
(Puerto Aventuras, MEXICO – February 2019) KASA Hotel Collection announces the opening of its second hotel in Mexico, KASA Hotel Riviera Maya. The new hotel will open June 2019 in the exclusive community of Puerto Aventuras on the Riviera Maya. KASA Hotel Riviera Maya, a member of Small Luxury Hotels of the World™, sits in the exclusive beach, marine and golf community of Puerto Aventuras. This private gated community is an up-and-coming area on the Riviera Maya, away from the crowds in an area of lush tropical foliage, with a smart sailing community, full-service marina, golf course and uncrowded beach. Puerto Aventuras is ...
European Hotel Rooms See Strong Growth in Value With Gains Across Most Cities, Reveals HVS Valuation Index
HVS | February 25, 2019
25 February 2019, London: Hotel values across Europe registered another strong year in 2018 showing 3% growth and reaching new highs, according to the annual European Hotel Valuation Index (HVI), compiled by global hotel consultancy HVS. Although a more modest growth than that of 2017 at 3.9%, 2018 saw recovery for many cities as well as a levelling off in values for some markets, which had previously been depressed compared with the European average. "While there has been geopolitical uncertainty and instability in Europe, the influence of this on investors, developers and lenders within the hotel sector seems to be continually lesseni...
Mitchell Hospitality Selects Hotel Equities to Operate Dual-Branded Four Points by Sheraton and Residence Inn by Marriott in British Columbia
Hotel Equities | February 25, 2019
Atlanta, GA – February 25, 2019 – Today, Atlanta-based hotel owner, operator and developer, Hotel Equities (HE), announced they have been selected as the management firm for the 258-room Four Points by Sheraton and Residence Inn by Marriott dual-branded hotel. The hotel site is located at in Langley, BC. Construction on the hotel, owned by Mitchell Hospitality, Inc., is anticipated to begin mid 2019 with plans to open in 2021. Dual-branded properties, while relatively new to the Canadian market, are becoming more attractive to developers who are reaping the benefits of the concept. "We are proud to partner with the owners on...
Shiji Group Announces First Official ITB Berlin Attendance
Shiji | February 25, 2019
To cater to the growing international customer base, Shiji Group is joining ITB Berlin 2019 Berlin 25 February 2019. Shiji Group announces its first official ITB 2019 presence to announce its global technology strategy, products, and services to the hospitality industry. After the group's rapid international growth during 2018 and a rapidly growing global customer base, attending the largest International Travel Show is a unique opportunity to meet industry professionals from around the world. While Shiji Group has been present through its many subsidiaries in the past, there has never been an opportunity for hotel groups and hotel indu...
Travel Tripper and Pegasus to Unveil a Newly Enhanced Suite of Products at ITB Berlin
Travel Tripper | February 25, 2019
The newly combined Travel Tripper & Pegasus now offers hotels a holistic suite of industry-leading reservations, distribution, business intelligence, and e-commerce solutions New York, NY – February 25, 2019 – Fresh off the news of their merger, leading hospitality tech providers Travel Tripper and Pegasus announced that they will debut their newly enhanced suite of solutions at next month's ITB trade show in Berlin. The new combined offerings will bring together and leverage the strengths of two world-class brands in a recharged product suite that encompasses award-winning platforms and services for reservations, distri...
Shaking Up Your Marketing Strategy: How Millennials Are Shaping the Way Hotels Operate
Lauren Hall | February 25, 2019
By Lauren Hall, Founder & CEO, iVvy As a hotelier, the process of (effectively) marketing to millennials might have initially presented itself as a rather daunting task. Just how much buying power and influence do millennials have? And how does that impact the hospitality industry? What are their travel behaviors and preferences? How can hotels readily appeal to the millennial generation without compromising their relationship with travelers of previous generations? Who and what should be the priority? More specifically, when addressing the group hospitality segment — what do millennials expect from meetings and events in 2019...
2019 India Hotel Manpower Study© – Synopsis
February 25, 2019
The Indian hospitality sector has been witnessing a steady growth in rooms supply, with 1,28,163 rooms operational in the branded segment in 2017/18 – this represents a 7.5% increase over the previous year and a CAGR of 11.4% since 2008/09. In the next five years, Hotelivate anticipates a little over 35,000 rooms to be developed, growing the existing base by 28% and taking the total rooms supply to 1,63,733. In an industry where each hotel company is looking for opportunities to outperform the other, the rise in supply of rooms has put additional pressure on the Human Resource (HR) function to ensure a steady stream of quality man...
Les Clefs d’Or USA President Helps Define Today’s Luxury Travel Experience with Forbes Travel Guide
February 22, 2019
Robert Marks works to set the standards for exceptional service as member of the 2019 Forbes Travel Guide Standards Advisory Committee Boston, MA: For the second year in a row, Les Clefs d'Or USA President Robert Marks will be serving on the Standards Advisory Committee of the world-recognized Forbes Travel Guide. The committee's purpose is to"enlists some of the brightest stars in the universe of hospitality and luxury brands to be sure our Star Rating standards reflect the most up-to-date guest expectations. The Standards Advisory Committee (SAC), formed in 2013, brings together experts in multiple luxury verticals from around the wo...
Hilton Launches New Brand, Signia Hilton, Focused on Meetings and Events
Signia Hilton | February 22, 2019
MCLEAN, Va. - Hilton (NYSE: HLT) today announced the launch of Signia Hilton, its dynamic, new meetings-and-events-focused brand. The portfolio of hotels is setting out to transform the industry for meeting professionals and sophisticated business travelers by infusing state-of-the-art technology and design into every aspect of the guest experience. The brand further reinforces Hilton's commitment to innovation that meets the evolving needs of today's travelers and will bring premium experiences to top urban and resort destinations around the world. "In our 100th year of hospitality, we are more focused than ever on providing exceptiona...
MGM Resorts International Appoints Corey Sanders as CFO and Bill Hornbuckle as President and COO
MGM Resorts International | February 22, 2019
LAS VEGAS, Feb. 22, 2019 -- MGM Resorts International (NYSE: MGM) ("MGM Resorts" or the "Company") today announced changes to its leadership team and a streamlining of responsibilities to empower leaders to drive the Company's strategic direction and implement change as part of its MGM 2020 initiative. Current Chief Operating Officer Corey Sanders will be appointed Chief Financial Officer and will lead the strategic financial transformation that is part of MGM 2020 and will integrate that work with the departments he currently leads including information technology, enterprise analytics, sales and consumer market...
INTERVIEW: Hotel Investment Trends in Europe
Stuart Pallister | February 22, 2019
By Stuart Pallister If you're thinking of investing in the hotel sector in Europe where should you be looking to put your money? Patrik Hug, Senior Consultant, Advisory & Valuation Services at Christie & Co based in Munich, Germany, says much depends on how risk averse the potential investor is. Hug, an EHL graduate, says that four out of five investors in hotel real estate are not passionate about hotels. "It's about cash flows, yields, and the return on investment. Of course, they like dealing with hotels, but it could be a parking lot as well. In the end, as long as the return is correct, that's all that counts. So it really ...
HVS Market Pulse: San Francisco, CA
John Berean | February 22, 2019
By John Berean San Francisco continues to rank among the top domestic lodging markets, attributed to the strength of the tech industry, strong year-round tourism, and limited supply growth. With the Moscone Convention Center also recently debuting a $550-million renovation and expansion, the San Francisco hotel market is expected to achieve record RevPAR levels in 2019. We have outlined several key trends that are anticipated to influence San Francisco's lodging market in the near term. San Francisco's Key Economic Indicators Source: HVS Construction on the renovation and expansion of San Francisco's Moscone Center began in Novembe...
U.S. Travel Assn. Welcomes Destination DC President and CEO Elliott L. Ferguson II as National Chair
U.S. Travel Association | February 22, 2019
WASHINGTON (February 22, 2019)— The U.S. Travel Association on Thursday announced the election of Elliott L. Ferguson II, president and CEO of Destination DC, as its new national chair. Ferguson, who served on the board for seven years, succeeds Wyndham Hotels and Resorts' president and CEO Geoff Ballotti. "Elliott is a leader with vision and skill, as evidenced by his organization's successful positioning of the District as a foremost destination for domestic and international travelers alike," said U.S. Travel Association president and CEO Roger Dow. "Elliott's track record as a guardian of the travel ...
SpringHill Suites by Marriott to Open Doors in Lakewood, Colorado
The Sage Agency | February 22, 2019
Marriott International announced today that the SpringHill Suites by Marriott in Lakewood, Colorado is scheduled to open this Tuesday, February 26, 2019. The 127-suite hotel, located at 1315 Colorado Mills Parkway, will operate as a Marriott franchise, owned by Bedford Lodging of Dallas, Texas and managed by InterMountain Management of Monroe, Louisiana. The SpringHill Suites Denver West/Golden offers guests convenient access to Red Rocks Amphitheatre, Coors Brewery, Colorado Mills Mall and downtown Denver. "As a brand opening a new hotel every 10 days on average, we are delighted that the SpringHill Suites Denver West/Golden is the lat...
broughtonHotels’ Park James Opens With INTELITY’s Complete Guest Experience and Hospitality Management Platform
Intelity | February 22, 2019
High-tech, high-touch Silicon Valley hotel uses the INTELITY platform to provide a cutting-edge connection between guests and staff Los Angeles, CA (February 22, 2019) – INTELITY™, the provider of the travel industry's first and broadest enterprise guest engagement and staff management platform, is now live at the Park James, operated by broughtonHotels, in Menlo Park, California. Park James guests now have access to the INTELITY platform including, a mobile guest app, mobile key, and in-room tablets, while their staff is using INTELITY STAFF to organize, manage, and track requests, communications, and work orders on the...
EJF Capital to Develop Marriott’s New “Moxy” Hotel in Uptown Oakland, CA Opportunity Zone in Partnership With Tidewater and Graves Hospitality
Tidewater Capital | February 21, 2019
ARLINGTON, Va. -- EJF Capital LLC ("EJF"), a global alternative asset management firm, announced today that it has joined Tidewater Capital and Graves Hospitality to develop Marriott International's new Moxy hotel in the Uptown neighborhood of Oakland, California. Uptown Oakland qualifies as an "Opportunity Zone" under the Tax Cuts and Jobs Act of 2017 ("TCJA") and offers investors attractive tax benefits to create economic growth. The planned Moxy hotel, which is slated to open in 2021, consists of 173 rooms and targets millennial travelers who are increasingly drawn to Oakland's energetic urban environment. EJF Co-Founder and Chief Op...
75 Legendary Hotels Inducted Into Historic Hotels Worldwide in 2018
February 21, 2019
WASHINGTON -- 75 hotels have been inducted into Historic Hotels Worldwide® in 2018. Hotels approved for induction into the prestigious Historic Hotels Worldwide registry are from across four continents, including 20 countries, and date as early as the 11th century. The 75 historic hotels represent independent hotels and hotels from 12 different brands, chains, and collections. Hotels inducted into Historic Hotels Worldwide have met the following criteria: a hotel must be at least 75 years old; utilize historic accommodations; serve as the former home or be located on the grounds of the former home of famous persons or significant lo...
Dual-Branded Best Western Plus Executive Residency Austin Hotel Debuts In Austin, Texas
February 21, 2019
Austin, Texas (February 21, 2019) - Best Western® Hotels & Resorts announced today the debut of the Best Western Plus Executive Residency Austin, located at 2021 Cheddar Loop Road in Austin, Texas. The newly built dual-branded property features 39 Executive Residency by Best Western® guestrooms offering well-appointed kitchenettes for business and leisure travelers seeking an extended-stay option. The hotel also boasts 47 Best Western Plus® guestrooms, each complete with upscale sleeping and bath amenities, providing guests with the best in rest and relaxation. The hotel's common areas are thoughtfully designed with impr...
HVS Market Pulse: Atlanta, Georgia
Benjamin A. Levin | February 21, 2019
Benjamin A. Levin and Janet L. Snyder While several high-profile projects have been completed in Atlanta over the past several years, including the completion of Mercedes-Benz Stadium and SunTrust Park, the conversion of Turner Field into the new Georgia State football Stadium, and the opening of NCR's new global headquarters in Midtown, the construction boom in Atlanta is showing no signs of slowing down. Several high-profile projects are currently underway in Atlanta, with the some of the biggest projects in the city's history expected to break ground in the coming months. Aerotropolis Development Hartsfield-Jackson Atlanta Internatio...
