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
Owned and Managed by Stonebridge Companies, Courtyard by Marriott Set to Open in Loveland, Colorado
Courtyard by Marriott | February 15, 2019
Loveland, Colo. – February 15, 2019 – Courtyard by Marriott Loveland/Fort Collins opens its doors in Loveland, Colorado today. Featuring an innovative lobby space as well as Courtyard's latest contemporary room design, the new hotel provides flexibility and choices that allow guests to optimize and elevate their travel experience. Located at 6106 Sky Pond Drive in Loveland, the 102-room hotel will operate as a Marriott franchise, owned and managed by Stonebridge Companies of Denver. The project marks Stonebridge's fourth property located in Loveland. Stonebridge Companies, a privately owned, innovative hotel owner, operator ...
Pebblebrook Hotel Trust Completes Sale of the Liaison Capitol Hill
Pebblebrook Hotel Trust | February 15, 2019
BETHESDA, Md.--February 15, 2019--Pebblebrook Hotel Trust (NYSE: PEB) (the "Company") today announced that it has closed on the sale of the 343-room, Liaison Capitol Hill in Washington, D.C. for $111.0 million. The sale price of $111.0 million reflects a 16.9x EBITDA multiple and a 4.9% net operating income capitalization rate (after an assumed annual capital reserve of 4.0% of total hotel revenues) based on the trailing twelve-month operating performance for the period ended December 31, 2018. Proceeds from the sale of the Liaison Capitol Hill will be utilized for general business purposes which may include reducing the Company's outst...
The Art and Science of Hotel Brand Valuation
Hotelivate | February 15, 2019
Businesses are frequently valued using one or more established approaches across industries and sectors. Their replacement cost, income generation ability and/or comparable sales of similar businesses usually form the basis of such valuations. However, in most cases, a business value using the approaches mentioned herein is largely determined for tangible assets, as they have been regarded as the main source of value creation. In recent times, several companies have increasingly and justifiably so, embraced the idea that a business's value is not made up of its tangible assets alone. The importance of not just the brand, but also patent...
Midas Hospitality Opens 119-Room Residence Inn Charlotte Steel Creek in North Carolina
Midas Hospitality | February 14, 2019
St. Louis, Mo., Feb. 14, 2019 - Midas Hospitality – a leading hotel development, management and investment firm – recently opened its third Marriott property in Charlotte, NC. Located at 5110 Trojan Dr., the 119-room Residence Inn by Marriott is a four-story, 82,000-square-foot hotel. The Residence Inn Charlotte Steele Creek has studio, one-bedroom and two-bedroom suites. The hotel features an outdoor swimming pool, patio with barbecue grill, fitness center, meeting room, and business library. Located in the Steele Creek Business Park next to the Charlotte Premium Outlets, the hotel is conveniently located seven miles from C...
The Hotel Group Opens The Sound Hotel Seattle Belltown, A Tapestry Collection by Hilton
The Hotel Group | February 14, 2019
SEATTLE (February 14, 2019) – The Hotel Group announced today the grand opening of The Sound Hotel Seattle Belltown, A Tapestry Collection by Hilton. Woven into the fabric of Belltown, one of Seattle's most vibrant and centrally located neighborhoods, The Sound Hotel celebrates the sights, sounds, and tastes that are uniquely Seattle. The Sound Hotel features 142 exquisitely designed guest rooms, some with expansive views of the downtown Seattle skyline and Puget Sound, ground-level restaurant Currant Bistro with adjacent grab & go coffee bar, as well as meetings and special event space ideal for small groups, offering unobstr...
Omni Shoreham Hotel Completes $12 Million Guest Room Renovation Led by General Manager Mark Roche-Garland
Omni Shoreham Hotel | February 14, 2019
WASHINGTON, D.C. (February 14, 2019) – Omni Shoreham Hotel is welcoming guests to its 834 newly renovated rooms after undergoing a more than $12 million renovation that elevates the overall experience and enhances the hotel's 90-year history. The renovation includes a design and décor update highlighting the hotel's unique location within Washington, D.C. and its picturesque garden views. Embracing D.C.'s culture and rich history, the design of the refreshed guest rooms was inspired by the deco-era of the 1930s Shoreham Hotel, coupled with only-in-Washington visuals such as photography of landmark locations and the hotel's ...
Coombs Inn & Suites, Water Street Hotel & Marina, and Wyvern Hotel Join the Ascend Hotel Collection
Ascend Hotel Collection | February 14, 2019
ROCKVILLE, Md., Feb. 14, 2019 -- The Ascend Hotel Collection, a portfolio of unique, boutique, and historic hotels and resorts by Choice Hotels International, Inc. (NYSE: CHH), welcomes three new members in the sunshine state of Florida to the collection: Coombs Inn & Suites, Water Street Hotel & Marina, and The Wyvern Hotel. Located on the Gulf Coast, the latest additions are owned by multidisciplinary real estate firm Edgewater Group, LLC and combine exceptional service with coastal charm to deliver a local, upscale experience that the Ascend Hotel Collection brand is known for. Unique décor and one-of-a-kind seaside vi...
Renaissance Hotels With Spire Hospitality Complete Multi-Million Dollar Renovation of Renaissance Minneapolis Bloomington Hotel
Spire Hospitality | February 14, 2019
Bloomington, MINN. (Feb. 13, 2019) – Renaissance Hotels with Spire Hospitality, one of the nation's leading and most respected hotel management companies, today announced the newly-renovated Renaissance Minneapolis Bloomington Hotel. "This hotel has long served as a key hub for business travelers to the Minneapolis area," says Patrick Bissen, General Manager, Renaissance Minneapolis Bloomington Hotel. "The Renaissance brand promises to deliver our guests an unmatched experience, immersing them in an authentic Twin Cities experience, while providing a respite for their visit to the destination." Transforming the property with a mul...
Cintas Reveals 2019 Everyday Impact™ Hero Program Winners
Cintas Corporation | February 14, 2019
Cintas Reveals 2019 Everyday Impact™ Hero Program Winners Ten winners will be featured in the 2019 Design Collective By Cintas Catalog CHICAGO—[Feb. 12, 2019] – From a native of Puerto Rico fundraising and volunteering for Hurricane Maria recovery to a driver who rescued a 92-year-old man trapped inside a house on fire, Cintas Corporation (NASDAQ: CTAS) announces the winners of its second annual Everyday Impact™ Hero Program. The program celebrates individuals who make a real impact in the workplace and beyond. The 10 winners will be featured in the new 2019 Design Collective By Cintas catalog, which will be avai...
Promising Food Trends for 2019
Kacey Bradley | February 14, 2019
By Kacey Bradley Your hotel or resort recommends local dining, stocks popular snacks and hosts an in-house restaurant. With shifts in how people choose food and prefer to be served, evaluating guests' needs and desires is crucial in the hospitality industry. Prepare to accommodate guests by brushing up on the latest food trends. From convenient digital ordering to yolk-covered meals, there are plenty of innovative and imaginative switches underway. Here are nine promising food trends you can watch for in 2019. 1. Self-Service Kiosks As guests opt for fast and effortless meals, hotels and restaurants are offering kiosks to cut down o...
Sandpiper Lodging Trust Acquires Four WoodSpring Suites Hotels From Wills Capital Partners
Sandpiper Lodging Trust | February 14, 2019
(Richmond, Va. - February 14, 2019) – Sandpiper Lodging Trust (SLT) is pleased to announce its acquisition of four WoodSpring Suites™ Hotels from Wills Capital Partners, LP (WCP). Three of the properties are located in Texas including: Austin, San Antonio and Odessa and one in Clarksville, Tenn. Carter Rise, CEO of SLT, stated, "We have known and admired Charles Wills and his development team for nearly 10 years. His properties consistently rank among the highest performing hotels in the WoodSpring system. This acquisition expands our geographic footprint into four rapidly growing markets. We are particularly pleased that Mr...
3 Distinctive Hotel Openings Highlight the Growth of The Olympia Companies
The Olympia Companies | February 14, 2019
February 14, 2019. Portland, ME. The Olympia Companies has just come off a year of remarkable growth and development with the completion of three extraordinary new hotels: SOPHY Hyde Park in Chicago, IL; The Glen House in New Hampshire's White Mountains; and Hyatt Place & Hyatt House Quad Cities in East Moline, IL. Olympia, a leader in high-profile real estate development, equity investment and hospitality management projects, took an individualized approach to each of these three very different hotel projects, situated in radically different locations: a revived historic neighborhood in America's 3rd largest city; a riverfront Midw...
Big Hotel Brands Set Their Sights on Portugal’s Cities
JLL Real Views | February 14, 2019
By Natasha Stokes With Lisbon and Porto fast building a global reputation as top city break destinations, international hotel groups are flocking to these booming tourism markets. Boutique hotels account for many of the new developments in Portugal, converted from historic buildings by new entrants to the market. Hilton Group's Curio Collection will debut its first property in Portugal, the Emerald House, in Lisbon. The multi-million-euro renovation will be a 67-room complex with fitness centre, restaurant and bar for guests as well as locals. Hotel operators with a presence in the country are also expanding their footprint – the ...
Enterprise Rancheria and the Seminole Tribe Celebrate Topping Off of Hard Rock Hotel & Casino Sacramento at Fire Mountain
Enterprise Rancheria | February 14, 2019
HOLLYWOOD, Fla. – (Feb. 14, 2019) – Hard Rock Hotel & Casino Sacramento at Fire Mountain held a topping off ceremony on Feb. 13, 2019, to celebrate reaching this major construction milestone in the project. The highly-anticipated property is slated to be the premier entertainment destination in Northern California once it opens in fall of 2019. "I want to thank everyone involved in this momentous development," said Mark Birtha, president of Hard Rock Hotel & Casino Sacramento at Fire Mountain. "It is such an incredible feeling of pride and excitement seeing it coming to life. I know this property is going to be a lan...
MacArthur Place to Streamline and Standardize Operations With Knowcross
Knowcross | February 14, 2019
Washington D.C., February 14 2019 - KNOWCROSS, the preferred service quality management platform of the finest hotels across the globe, has been chosen by MacArthur Place Hotel & Spa, Sonoma Valley, to help increase back-of-the-house efficiencies and enhance service delivery quality. The property is the latest to join Knowcross' increasing clientele in the US. MacArthur Place has decided utilize the advanced technology and innovation of the Knowcross platform to empower their teams to boost operational excellence and raise the level and quality of service delivered to their esteemed guests. "With the debut of our reimagined MacArthu...
The Mobile-First World Creates Tremendous Revenue Potential for Hoteliers
HEBS Digital | February 14, 2019
By Max Starkov Hoteliers face a challenge in 2019: Creating and managing a robust digital presence in an increasingly mobile-first environment. This means investing in mobile technology and marketing that enables the best user experience while achieving maximum engagement, regardless of device. The explosion of mobile customer engagements creates a tremendous upside opportunity for smart hoteliers who invest in and take advantage of this rising tide of mobile-obsessed travel consumers. The shift from desktop to mobile and tablet devices continued its steady pace in 2018. More than 58% of web visitors and more than 51% of page views wer...
How Hoteliers Can Be Responsible With the Owners’ AV Technology Investment
Eric Bracht | February 14, 2019
10 steps to maximizing ROI from an owners' investment in audio/visual equipment, sound systems and amplification, background music systems, lighting and dimming systems, digital signage and more By Eric Bracht It's been a decade since the hospitality industry emerged from the depths of the economic recession. It took some time, but today hoteliers are experiencing a strong U.S. economy coupled with one of the lowest unemployment rates in history. According to the Deloitte 2019 US Travel and Hospitality Outlook, "unprecedented growth, driven by a robust economy, rising global consumer purchasing power, and digital innovation, however, co...
Casa Velas Accepted Into the Virtuoso Hotels & Resorts Program
KWE Partners | February 14, 2019
Casa Velas announces it has been accepted into the Virtuoso Hotels & Resorts Program. With Spanish-style architecture and expansive tropical landscaping, the Puerto Vallarta resort has the look and feel of a private hacienda. Located in an upscale residential neighborhood, the resort overlooks the lush greens of the Marina Vallarta golf course – where complimentary unlimited golf is included. All 80 suites are decorated in traditional Mexican colors and furnishings including original artwork by Mexican artist Sergio Bustamante. Among other things, Casa Velas stands out for its designer Handbag Bar and other signature amenities...
Hotel Smartconcierges Going Mainstream
Raj Singh | February 14, 2019
By Raj Singh, CEO, Go Moment "Great customer service is […] a systematic reinvention of established technology, data, and operations — leveraging automation, data, and agents together to exploit each of their unique strengths." These were the words of Forrester Vice President and Principal Analyst for Application Development & Delivery Professionals, Kate Leggett, in the beginning of 2018. In her analysis, Leggett overviewed three broad customer service trends that also well-apply to the hotel industry: 1) Customers demand fast service anywhere, anytime; 2) Automation and artificial intelligence (AI) quells headcount in...
Radisson Hotel Group Signs Master Development Agreement With SunnySeeker Hotels in Cyprus
Radisson Hotel Group | February 13, 2019
Brussels/Cyprus, 13 February 2019 - Radisson Hotel Group, one of the largest and most dynamic hotel groups in the world, is delighted to announce the signing of a Master Development Agreement with SunnySeeker Hotels in the Republic of Cyprus. Building on an already-successful partnership, the new deal will see the group grow its existing portfolio in the country to six hotels and almost 1,000 rooms by 2025. SunnySeeker Hotels has been a partner for Radisson Hotel Group in Cyprus since 2015. This new agreement is a valuable opportunity for both companies to capitalize on each other's industry expertise, market position and global presenc...
IHG Acquires Six Senses Hotels Resorts Spas From Pegasus Capital Advisors for $300 Million
IHG | February 13, 2019
InterContinental Hotels Group (IHG®) has today announced the acquisition of Six Senses Hotels Resorts Spas, one of the world's leading operators of luxury hotels, resorts and spas. The $300 million cash acquisition from Pegasus Capital Advisors includes all of Six Senses' brands and operating companies and does not include any real estate assets. Six Senses currently manages 16 hotels and resorts, with 18 management contracts signed into its pipeline, and more than 50 further deals under active discussion. With properties in locations such as the Maldives, the Seychelles, Yao Noi in Thailand, Zighy Bay in Oman, and Portugal's Douro ...
Scrub Island Resort, Spa & Marina, BVI Undergoes Recapitalization With The Ardent Companies, Along With Significant Improvements
Scrub Island Resort, Spa & Marina, BVI | February 13, 2019
BRITISH VIRGIN ISLANDS (Feb 13, 2019) – Mainsail Lodging & Development is delighted to announce the recapitalization and reopening of Scrub Island Resort, Spa & Marina in the British Virgin Islands. On Dec. 31, 2018, The Ardent Companies, through a $41 million investment, replaced First Bank of Puerto Rico as principal lender. Mainsail Lodging & Development will continue to operate the resort under Autograph Collection® Hotels, a member of Marriott International's industry-leading portfolio. "This marks an extraordinary milestone in the history of our resort," said Joe Collier, president of Mainsail Lodging & D...
HRI Properties Breaks Ground on New Dual-Branded Hyatt Place and Hyatt House Hotels in Downtown Tampa
Hyatt Place | February 13, 2019
TAMPA, Fla. (February 13, 2019) – HRI Properties, LLC (HRIP), Hyatt and public officials broke ground today on construction for the dual-branded Hyatt Place and Hyatt House hotels in downtown Tampa. The project will add a transformative new development to the city's downtown area and create a hotel experience that offers an array of shared services and amenities that meet the needs of guests, whether traveling alone, with family, for business, or for leisure. "HRI Properties is excited to be awarded this project, and today we celebrate the long-awaited groundbreaking with the City of Tampa and our friends from Hyatt," said HRI Pro...
Artificial Intelligence: Hospitality, and That Human Touch
Stuart Pallister | February 13, 2019
By Stuart Pallister Artificial intelligence is undoubtedly going to have an impact on the hotel industry as the bots – robots and chatbots – play a greater role. Julia Aymonier, CIO of EHL, says yes, some jobs will change, particularly those related to repetitive tasks. "The biggest challenge," she told Hospitality Insights in an interview, "will be to train people for jobs that are created by artificial intelligence." Robot-concierge? "There will be jobs, and if we don't train people, we won't have the staff we need to do these new jobs." We're unlikely to see robot concierges in four- and five-star hotels, as you can't hav...
