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
The Greenwich Hospitality Group (GHG) Completes $23.2 million Acquisition of West Bay Beach Holiday Inn Resort in Traverse City, Michigan
The Greenwich Hospitality Group | January 4, 2019
Greenwich, CT - JAN. 4, 2019 - The Greenwich Hospitality Group (GHG) today announced its acquisition of West Bay Beach Holiday Inn Resort in Traverse City, Michigan for $23.2 million. The 179-room full service waterfront resort, originally built in 1968, is located on the West Bay in downtown Traverse City. The purchasing entity, DELAMAR Traverse City, LLC, consists of mostly Michiganders with multi-generational ties to Grand Traverse and Leelanau Counties. Greenwich Hospitality Group owns and manages hotels in Connecticut, Texas, and Vermont. The hotel will be elevated to a four-star property and rebranded DELAMAR Traverse City after u...
Marriott Provides Update on Starwood Database Security Incident
Marriott | January 4, 2019
Marriott today is providing an update on the number of guests whose passport numbers and payment card numbers were involved in the Starwood reservations database security incident announced by the company on November 30, 2018. Working closely with its internal and external forensics and analytics investigation team, Marriott determined that the total number of guest records involved in this incident is less than the initial disclosure. Also, the number of payment cards and passport numbers involved is a relatively small percentage of the overall total records involved. "We want to provide our customers and partners with updates based on...
HEBS Digital Wins Silver Adrian Award for The Resort at Pedregal’s Here Comes the Sun Campaign
HSMAI | January 4, 2019
HEBS Digital's advertising and marketing campaign for The Resort at Pedregal, Travel+Leisure's #1 resort hotel in Mexico, was recognized with a Silver Adrian Award. This win reflects a successful increase in bookings that achieved a 57X ROI. New York, NY (January 4, 2019) – HEBS Digital has been honored with a Silver Adrian Award for their work on The Resort at Pedregal's Here Comes the Sun multichannel campaign by the Hospitality Sales & Marketing Association International (HSMAI) for 2018. Known for its award-winning service and amenities, The Resort at Pedregal began development of this campaign with affluent travelers in ...
U.S. Hotels Experienced Another Strong Year in 2018, but What’s on the Horizon? CBRE’s Lodging Insights
January 3, 2019
CBRE's Mark Woodworth and Jack Corgel wrap up 2018 with their take on the overall health of the economy, what indicators may tell us about the possibility of a recession on the horizon, and what period to period demand change says about overall economic performance. ...
Proactive Disaster Planning Tips for Hotels and Resorts
Kacey Bradley | January 3, 2019
By Kacey Bradley No one relishes the thought of having a much-needed vacation destroyed by a hurricane, tornado or wildfire. For those in the hospitality business, natural disasters open the possibility of liability for guest injury. Advance planning on how to deal with natural disasters helps hoteliers avoid costly lawsuits as well as prevent loss of human life. What must those in the hospitality industry do to ensure they maximize guest safety in the event of a disaster? These common-sense tips provide an excellent starting point for developing a comprehensive safety plan in the event catastrophe strikes. Complete a Risk Assessment Th...
Lodging Forecast 2019: Industry Threats Yet Growth
Robert A. Rauch, CHA | January 3, 2019
By Robert A. Rauch Reading forecast content from the plethora of prognosticators out there can drive one into craziness. Clearly, the current economy has strengths like consumer confidence, employment levels, low oil/gas prices, and purchasing managers sentiments as expressed by the Institute of Supply Management (ISM). Gross Domestic Product (GDP) has been growing at a strong 3 percent +/- rate and most pundits expect a 2-3 percent increase in revenue per available room (RevPAR), largely attributed to average daily rates (ADR). But there are warning signs—trade, interest rates, stock market turbulence, cost increases, new supply ...
Gencom-Led Partnership Acquires Two St. Pete Beach Resorts for $100 million
BENCHMARK | January 3, 2019
MIAMI, Jan. 3, 2019 -- As part of its ongoing strategy to acquire unique hospitality assets anchored by strong underlying real estate and with unique repositioning opportunity, a Gencom-led partnership has announced the acquisition of two resort assets situated along St. Pete Beach, Florida. The Beachcomber Beach Resort and Hotel and The Grand Plaza Beach Hotel & Beach Resort were acquired at a reported purchase price of $100 million. The partnership will commit an additional $24 million for major renovations to upgrade and rebrand the two properties. While both assets will initially remain independent and unbranded, BENCHMARK®,...
Interstate Hotels & Resorts Adds The Westin Portland Harborview to Its Managed Portfolio
Interstate Hotels & Resorts | January 3, 2019
ARLINGTON, Va. – January 3, 2019 – Interstate Hotels & Resorts, the premier global hotel management company, has been selected by investment group, Rockbridge to manage The Westin Portland Harborview, a historic property in Portland, Maine. The new management contract furthers Interstate's coast-to-coast U.S. expansion following recent acquisitions, adding the Courtyard by Marriott Salt Lake City Downtown, Hyatt House Salt Lake City/Downtown and Fairfield Inn & Suites by Marriott Salt Lake City Downtown in Salt Lake City, Utah to its expansive portfolio. "Interstate is proud to be the designated management company fo...
China’s Hotel Construction Pipeline Remains Strong Despite A Slowing Economy
Lodging Econometrics | January 3, 2019
In the recent report by Lodging Econometrics (LE), in the third quarter of 2018, China's total construction pipeline stands at 2,642 projects/569,690 rooms and is up 9% by projects and 6% by rooms year-over-year (YOY). Rooms in the construction pipeline are at an all-time high, and the pipeline is a mere 16 projects shy of the cyclical high of 2,658 projects set in the fourth quarter of 2014. Projects presently under construction are at 1,928 projects/402,529 rooms, projects scheduled to start construction in the next 12 months are at 344 projects/73,209 rooms, and projects in the early planning stage are at 370 projects/93,952 rooms. B...
Are Colorado Ski-Resort Hotels Posed for a Rebound?
Brett E. Russell | January 3, 2019
By Brett E. Russell Owning and operating a hotel always has some degree of risk. However, for hotels located in ski-resort regions, this risk continues to be amplified. Risk factors include continued growth of the online home-sharing industry (Airbnb, VRBO, etc.) introducing new supply from non-hotel assets, as well as the seasonal nature of these mountain communities. Another factor that can greatly affect the performance of a ski resort-dependent hotel is weather. The initial snow totals at the beginning of a ski season (November through January) can have a profound impact on the total season's bookings at hotels. The 2017/18 ski seas...
BENCHMARK to Manage, Renovate and Reposition Two St. Pete Beach Resorts Purchased by Capital Partner Gencom
January 3, 2019
The Woodlands (Houston), Texas, January 3, 2019 … Expanding its presence in Florida to the state's popular Gulf Coast, BENCHMARK®, a global hospitality company, will manage, renovate and reposition two properties on St. Pete Beach, an award-winning destination off the coast of St. Petersburg in Tampa Bay. A venture led by Benchmark's capital partner, Gencom, has purchased the two beachfront properties, The Beachcomber Beach Resort and Hotel and The Grand Plaza Beach Hotel & Beach Resort and committed $24 million for major renovations to upgrade the two properties. Gencom and Benchmark forged a strategic management par...
MCR Sells the Hampton Inn & Suites St. Augustine-Vilano Beach
MCR | January 3, 2019
NEW YORK / JANUARY 3, 2019 MCR, the sixth-largest hotel owner-operator in the United States, has sold the 94-room Hampton Inn & Suites St. Augustine-Vilano Beach, located at 95 Vilano Road, St. Augustine, Florida. The firm purchased the hotel in 2012. MCR generated a 35% IRR and a 3.7X equity multiple on the investment. The transaction closed on December 12, 2018. "The substantial returns generated by this sale are a credit to MCR's best in class operations team," says Tyler Morse, CEO and Managing Partner of MCR and MORSE Development. "We pride ourselves on our excellent guest relations, our strong sense of teamwork and the overal...
Spire Hospitality Appoints David Altshuler, CPA as Vice President of Accounting
Spire Hospitality | January 3, 2019
CHICAGO (Jan. 3, 2019) – Spire Hospitality, one of the nation's leading and most respected hotel management companies, proudly appoints David Altshuler, CPA as vice president of accounting. With more than 25 years of industry experience, Altshuler will oversee all accounting operations within Spire Hospitality's portfolio. "We are excited to welcome David to lead our accounting team," says Chris Russell, CEO of Spire Hospitality. "His comprehensive knowledge of financial and accounting operations coupled with his proven track record to evaluate and execute effective operational models makes David the perfect leader to contribute t...
JW Marriott Chicago Appoints Justin Schmollinger as New Director of Sales and Marketing
JW Marriott Chicago | January 3, 2019
CHICAGO (January 3, 2019) – JW Marriott Chicago (151 W. Adams St.) announces the appointment of a new leader to join the hotel team, Director of Sales and Marketing Justin Schmollinger. A 20-year veteran to the industry, Schmollinger comes to the landmark, luxury hotel most recently from The Westin Chicago River North where he held the position of Director of Sales and Marketing for six years. "I am thrilled to be a part of the dynamic team at JW Marriott Chicago," says Justin Schmollinger. "The hotel holds a significant place in Chicago's luxury hotel landscape and I look forward to sharing its story and continuing to deliver ser...
Best Western® Hotels & Resorts Assumes Direct Responsibility of Brand in Mexico
January 3, 2019
Best Western® Hotels & Resorts Assumes Day-to-Day Management of the Brand in Mexico Phoenix, Arizona (January 3, 2019) – Best Western® Hotels & Resorts today announced that it has assumed direct responsibility for the Best Western brand in Mexico & Central America and surrounding countries (collectively, "Mexico"). Best Western will now operate on a property direct relationship ("PDR") with Best Western branded hotels in Mexico, all of which remain independently owned and operated. The transition to direct responsibility of the brand in Mexico will result in focused brand-level efforts and increased synergy and...
Generation AI - How Hotels Are Adapting to the Demands of More Millennial Guests
Raj Singh | January 3, 2019
By Raj Singh, CEO, Go Moment In the year 2020, one short year from now, the oldest millennials will turn 40, a milestone birthday. This means that millennials, currently the most significant consumer demographic, have been booking hotels stays for nearly 20 years. They have been the first generation to be able to use the Internet and mobile technology to research, book, and experience their stays. For this reason, they're called the Do-It-Yourself Generation. And these DIYers demand experiences that have caused hotels to scrutinize many aspects of how they do business. Hoteliers recognize that millennials -- and their successor Gen Zs -...
Why Hotels Should Be ServingUp Self-Service to Gain a Competitive Advantage and Inspire Guest Loyalty
Adam Hoydysh | January 3, 2019
By Adam Hoydysh, Vice President of Hotel Sales at Plum At its core, great hospitality is centered around the provision of excellent guest service and the consistent curation of an experience that meets or, better yet, exceeds guest expectations. While the defining elements of that desired experience may differ depending upon the guest, hospitality in the modern age is largely centered around guest personalization. The basic premise is that guests should have choices available to them, within every stay, that allows them to navigate a hotel property in a manner which appeals to their individual preferences. In some cases, this may call f...
Pride Management Set to Open 81-Room Fairfield Inn & Suites by Marriott in Fort Worth, Texas
Fairfield Inn & Suites | January 3, 2019
Fort Worth, TX – January 4, 2019 – The 81-room Fairfield Inn & Suites by Marriott in Fort Worth, Texas is scheduled to open on Tuesday, January 8, 2019 with a new décor that provides guests with a feeling of warmth and calm while traveling. Located at 4880 Citylake Boulevard East, the Fairfield Inn & Suites Fort Worth Southwest at Cityview will operate as a Marriott franchise, owned by Jignesh Patel and Denish Patel, and managed by Pride Management Inc. of Beaumont, Texas. Whether traveling for business or leisure, the Fairfield Inn & Suites Fort Worth Southwest at Cityview offers guests convenient access ...
CustomerCount® and Resort Trades Announce Customer Engagement Professional Award Winner
January 3, 2019
INDIANAPOLIS, IN (January 3, 2019) – CustomerCount® and Resort Trades have announced the 2018 recipient of the annual CustomerCount Customer Engagement Professional (CEP) Resort Trades Award. Noyan Suel, Operations Manager of Grand Pacific Resorts' Carlsbad Seapointe Resort is the recipient of the award, which recognizes outstanding leaders who exemplify customer engagement within the resort/hospitality industry. Noyan was selected from a group of exceptional finalists. The worthy runners-up in this elite group were: Sylvia Bawl, Rental Agent, Timeshares Only; Rhonda Swain, General Manager, Cunningham Property Management Corp...
Hangzhou Hua Pu Industrial Reopens Grand Hyatt Hangzhou Following Renovation and Transition From Hyatt Regency Hangzhou
Grand Hyatt | January 2, 2019
CHICAGO--January 2, 2019--Hyatt Hotels Corporation (NYSE: H) announced today the opening of Grand Hyatt Hangzhou, formerly Hyatt Regency Hangzhou, marking the first Grand Hyatt hotel in Zhejiang province and the 15th in China. Following an extensive 18-month redesign, the stylish 388-room hotel features luxury accommodations inspired by the best that Hangzhou has to offer. "We are extremely grateful to Chairlady Lin and her team for their tireless work over the past years, to bring the world-famous Grand Hyatt brand to Zhejiang Province for the very first time," said Stephen Ho, president, Greater China, global operations for Hyatt. "Th...
Allergy Technologies, Manufacturer of ActiveGuard, Named a Supply Partner by Hilton Supply Management
Allergy Technologies LLC | January 2, 2019
AMBLER, Pa. – Allergy Technologies LLC, a leading science-based manufacturer of innovative, effective, consumer-friendly pest control products, has been named a supply partner by Hilton Supply Management, the global supply chain partner for more than 6,000 properties, including Hilton and non-Hilton-branded hotels. Allergy Technologies is the manufacturer of ActiveGuard® Mattress Liners, the only EPA-registered, proactive product labeled to prevent bed bug infestations for two years. They are the first mattress liners to work against bed bugs – even new, more resistant strains. In hotel use for years, ActiveGuard-based p...
Schwartz Family Company Acquires Queensland’s Hilton Surfers Paradise for $70 Million From Ja Feng
January 2, 2019
2 January 2018: Australia's largest private hotel investor, Dr Jerry Schwartz, has made his first foray into Queensland hotel property with the $70 million purchase of the five-star Hilton Surfers Paradise from the Chinese group, Ja Feng. The deal is expected to settle in May 2019. The Hilton Surfers Paradise will be the Schwartz Family Company's 14th hotel in Australia. It will join 11 hotels in NSW – including Sydney's first international five-star hotel since 2000, the Sofitel Sydney Darling Harbour – and one each in the ACT and Victoria. The Hilton Surfers Paradise is one of the Gold Coast's newest luxury hotels, with Dr...
HVS Market Pulse: Dallas, TX
Kathleen D. Donahue | January 2, 2019
By Kathleen D. Donahue Key Economic Indicators and Lodging Market Overview Dallas/Fort Worth International Airport (DFW), Love Field Airport, Kay Bailey Hutchison Convention Center, and local employers and headquarters, particularly within the telecommunications, technology, insurance, financial services, and healthcare fields, represent the primary sources of lodging demand in the greater Dallas market. In addition to DFW's status as one of the nation's largest airports, the end of federal flight restrictions at Dallas Love Field in October 2014 has significantly boosted operations out of the airport. The following charts illus...
Hospitality Financial Leadership: The Top 10 Interview Questions About The Hotel’s Finances for a General Manager and the Best Answers
David Lund | January 2, 2019
By David Lund Interviews are tricky, for both the candidate and the interviewer. A GM's job interview is a challenge for the incumbent because they need to be ready for just about anything. This is especially true as it relates to the financial picture of the business as seen through the interviewer's eyes. The opposite is also true as many times the person doing the grilling does not have a broad base of experience relating to the daily inner workings and nuances of the hotel world. Here is a list of common questions and good answers as well as a few bonus questions you can ask the person doing your audition. 1. What makes you qualifie...
