International Visitors Spent Nearly $20.1 Billion Traveling Within the United States in March
National Travel and Tourism Office (NTTO) | May 23rd, 2024
CBRE Expects RevPAR Growth to Improve in H2 2024, Driven by Holiday and International Travel
CBRE Group, Inc. | May 16th, 2024
Top 4 Hotel Financing Obstacles And How to Get Around Them / Brian Holstein
Brian Holstein | September 16, 2013
Do you have upcoming hotel financing needs? Whether you are in the market for a simple refinance or acquisition financing, a discounted-payoff (DPO) financing or a PIP-induced recapitalization, the same rules apply. The hotel loan market has been on a good run for the last twelve months with competition among lenders heating to a point not seen since prior to the financial crisis. Lenders are beginning to focus increasingly on areas outside of pricing and leverage in order to preserve loan profitability and keep mortgage leverage below the aesthetically pleasing 70% loan-to-value level. SIMPLY PUT, WHAT THIS MEANS FOR HOTEL LOAN BORROWE...
Dorothy Dowling Named VP of Global Business Travel Association’s Allied Leadership Council
Best Western International, Inc. | September 13, 2013
PHOENIX (Sept. 13, 2013) – Best Western International Senior Vice President of Sales and Marketing, Dorothy Dowling, has been named Vice President of the Global Business Travel Association (GBTA)'s Allied Leadership Council or ALC. The ALC's mission is to represent GBTA's Allied Members by acting as a voice for the Allied community within GBTA. Additionally, it helps serve as a conduit between Allied members and the GBTA in order to address common interests facing the travel industry. "Dorothy has been an outstanding contributor to GBTA over the years and speaking for myself and her fellow ALC members, we are very pleased that she's j...
1H 2013 Total Hotel Transactions Increase Slightly (YoY); Portfolio Transactions Begin to Accelerate
Lodging Econometrics | September 5, 2013
September 5, 2013 - Lodging Econometrics' (LE's) report: For 1H 2013 Total Hotel Transactions and Property Transfers improved to 604 hotels/ 85,200 rooms, up 240 hotels over the 1H 2012 total of 364 hotels. Of the 240 hotels, 216 were for hotels sold within portfolios. Individual transactions at 334 hotels are up only 32 hotels Year over Year (YoY). M&A Property Transfers are non-existent but are expected to accelerate as the first leg of the real estate cycle is likely to draw to a close over the next 12 – 18 months. Transaction volume is a long way from the record of 3,218 hotels/ 441,617 rooms set in 2007, just as the financial...
Joan Bowden Joins the 517-room W Fort Lauderdale in Florida as Director of Spa
W Fort Lauderdale | August 30, 2013
FORT LAUDERDALE, FL - August 30, 2013 - W Fort Lauderdale welcomes Starwood spa veteran Joan Bowden as the new director of its iconic bliss spa. Bowden's responsibilities as director of spa will include overseeing marketing and promotions, retail initiatives and operations of the 4,000 sq. ft. facility featuring a luxe nail lounge, pampering treatment rooms, men's and women's lounges that open on to an outdoor terrace, a retail boutique and a legendary brownie buffet. Bowden has unparalleled multi-property experience in the Fort Lauderdale spa scene, most recently serving as the director of spa at The Westin Beach Resort and Spa, Fort L...
U.S. Lodging Tax Study: Nearly Half of Cities Analyzed Have Reached Prerecession Revenue Levels
HVS | August 29, 2013
The HVS annual lodging tax study tracks lodging tax rates and revenue in all 50 states and in the 150 largest cities in the United States. Tax revenue trends indicate the strength of hotel industry in these markets. HVS Convention, Sports, & Entertainment Facilities Consulting (HVS CSE) is pleased to announce the release of its second annual U.S. Lodging Tax Study which explores the current status and historical trends in the imposition of lodging taxes in the United States. This updated version expands the HVS U.S. Lodging Tax Study to provide information on lodging tax rates and collections in all 50 states and in the 150 largest ...
McKibbon Hotel Group Opens the 106-suite Springhill Suites Hotel in Pensacola, Florida
SpringHill Suites by Marriott | August 29, 2013
Pensacola, Florida - August 29, 2013 - The 106-suite SpringHill Suites by Marriott in Pensacola, Florida is scheduled to open today. Located at 487 Creighton Road, the SpringHill Suites Pensacola will operate as a Marriott franchise, owned by McKibbon Hotel Group, Inc. and managed by McKibbon Hotel Management, Inc. of Tampa, Florida. Located within walking distance to University Town Plaza and three miles from Pensacola International Airport, the hotel offers guests convenient access to the University of West Florida, Pensacola State College and Pensacola Beach. "We're delighted that the SpringHill Suites Pensacola is the latest additio...
LaSalle Hotel Properties Acquires Southernmost Hotel Collection in Key West, FL for $184.5 Million
LaSalle Hotel Properties | August 28, 2013
BETHESDA, Md. - August 28, 2013 - LaSalle Hotel Properties (NYSE: LHO) today announced that it acquired the 260-room Southernmost Hotel Collection in Key West, Florida. The purchase price was $184.5 million. The Southernmost Hotel Collection consists of the Southernmost on the Beach, Southernmost Hotel in the USA and La Mer Hotel & Dewey House. The Company funded the transaction with borrowings from its Senior Unsecured Credit Facility. The property is situated directly on the Atlantic Ocean in Key West, Florida, one of the strongest and most supply-constrained hotel markets in the United States. The hotel is located on the southern...
Lite Hotels Names Paul Dun & Lendy Ma Hotel Managers for Pagoda and White Sands Hotels in Honolulu
August 27, 2013
August 27, 2013 - Honolulu, Hawaii - Lite Hotels, a division of Aqua Hospitality, named Paul Dun, hotel manager, for the 360-room Pagoda Hotel. Most recently, Dun was hotel manager for the White Sands Hotel where he was instrumental in helping the property achieve improved ADR and a higher ranking on the popular consumer travel site, TripAdvisor. Prior to joining Aqua in 2006, Dun worked in Special Events at the Royal Hawaiian Center. He is a graduate of Kamehameha Schools and has a B.A. from the University of Redlands in California. Replacing Dun at the 93-room White Sands Hotel as hotel manager is Lendy Ma. With nearly ten years of ex...
Denver’s Curtis – a Doubletree by Hilton Completes $3.4 Million Meeting Space Expansion
the Curtis - a Doubletree by Hilton | August 27, 2013
Denver, Colo. (Aug. 27, 2013) - Line up and start practicing your serve - the Curtis - a Doubletree by Hilton has expanded its playground with a $3.4 million renovation that includes the new Four Square Ballroom, a unique 7,000 square feet indoor/outdoor event space in the heart of downtown Denver. At 4,200 square feet, the new Curtis Four Square ballroom boasts upscale finishes, tons of natural light, cool modern art elements and the latest in advanced technology. A large retractable nano glass wall separates the modern indoor space from a sizeable outdoor patio complete with a private bar, custom lounge furniture and a fireplace. The ...
Stefan Huber Named as General Manager for the 528-room Intercontinental Dallas in Texas
InterContinental Dallas | August 23, 2013
DALLAS (August 23, 2013) - InterContinental Dallas, the city's thriving convention and lifestyle hotel, today announced the appointment of Stefan Huber as the property's new General Manager. Huber brings nearly 30 years of hotel management experience to the InterContinental, where he'll oversee all phases of the hotel. Huber comes to the InterContinental Dallas with extensive industry knowledge ranging from intimate boutique to full service hotel, resort and convention settings. For the past five years, Huber worked for Destination Hotels and Resorts and served as the General Manager at various locations throughout the US. During his te...
Aqua Hospitality Completes $10 Million Renovation of the 221-room Park Shore Waikiki on Oahu, Hawaii
Park Shore Waikiki | August 23, 2013
Honolulu, Hawaii- August 23, 2013 - Aqua Hospitality continues its revitalization of Waikiki with the official introduction of the newly renovated Park Shore Waikiki, a classic Oahu hotel with an enviable location fronting Waikiki Beach. This exciting property underwent a $10.7 million enhancement to emerge as the area's most stylish boutique hotel experience for both leisure and business travelers. "This historic property has been completely transformed into a chic getaway that caters to the needs of today's traveler," said Elizabeth Churchill, senior vice president of sales and marketing. "The hotel is modern and relaxed, perfectly co...
Plantation on Crystal River on Florida’s Nature Coast Joins Ascend Hotel Collection
Ascend Collection | August 21, 2013
CRYSTAL RIVER, Fla. (August 21, 2013) - Located on Florida's Nature Coast, the Plantation on Crystal River announced today that it will join Choice Hotels International, Inc. (NYSE: CHH), one of the world's largest hotel companies, as a member of the Ascend Hotel Collection - a worldwide network of one-of-a-kind hotels known for authentic, local experiences and a shared commitment to outstanding service and amenities. As part of the Ascend Hotel Collection, the Plantation will have access to Choice Hotels International's robust reservations and distribution system for more than 6,200 hotels worldwide, including the Ascend Hotel Collecti...
China Becomes World’s Biggest Travel Spender According to Hotels.com Report; 2012 Spending Up by 40%
August 21, 2013
DALLAS - August 21, 2013 - China has overtaken the U.S. and Germany as the world's biggest spenders on travel, with Chinese travelers spending $102 billion on international travel in 2012, an increase of over 40 percent from 2011*. The second annual Chinese International Travel Monitor (CITM) released today by Hotels.com, the world's leading hotel booking website, reveals significant insights into the changing behaviors of Chinese travelers and how the global hotel industry is adapting. Surveying more than 3,000 Chinese international travelers and more than 1,500 hoteliers around the world, the Hotels.com report found 75 percent of glob...
Tennessean Susan Whitaker Named State Tourism Director of the Year by the U.S. Travel Association
The U.S. Travel Association | August 19, 2013
RICHMOND, Va. (August 19, 2013) - Susan Whitaker, commissioner of the Tennessee Department of Tourist Development, has been named the State Tourism Director of the Year. The award is voted upon annually by the U.S. Travel Association's National Council of State Tourism Directors. Whitaker was announced as the winner before about 600 of her peers Monday at the ESTO conference of tourism professionals in Richmond, Va. "Susan is a wonderful representative for Tennessee. I've had the pleasure of working with her on any number of critical travel issues and always appreciate her insight," said Roger Dow, president and CEO of the U.S. Travel A...
UK’s Regional Hotels Show Rise in Profitability
August 19, 2013
Hotel Bulletin: Q2 2013 HVS, Zolfo Cooper and AM:PM August 19, 2013 Profitability growth returned to the regions in Q2 2013 for the first time on a last twelve months basis since the downturn. London also recorded positive results; however weak comparators, due to the Diamond Jubilee, masked what was otherwise a flat quarter. This issue's city focus is on Liverpool, a hotel market that has doubled in size in the last decade. Key highlights of period Performance continues to improve Both London and the regions recorded RevPAR increases in Q2 2013, albeit on the back of weak comparators in the previous quarter due to the Diamond Jubilee ...
The 55-room Pearl Opens in Rosemary Beach, Florida
The Pearl | August 16, 2013
ROSEMARY BEACH, FL-August 16, 2013) - After much anticipation, The Pearl opened its doors today, bringing a new level of luxury to Rosemary Beach, on Florida's Emerald Coast. Overlooking the picturesque Gulf of Mexico, The Pearl features beautifully appointed rooms, destination worthy regional cuisine, an intimate spa, and attractive facilities for meetings and events in the heart of Northwest Florida's most exclusive seaside community. Offering refined luxury just 20 minutes from Northwest Florida Beaches International Airport, The Pearl, a 55-room boutique property, creates a seamless guest experience. From a guestroom stocked with co...
Kempinski Hotels Opens the 363-room Kempinski Hotel Taiyuan in China’s Old Dragon City
Kempinski Hotels | August 15, 2013
Toronto - August 14, 2013 - Kempinski, Europe's oldest luxury hotel group, unveiled its 19th mainland hotel today in Taiyuan, China. As the first international five-star hotel in the city, Kempinski presents brand new luxurious concepts through modern facilities, superb European service and international gourmet offerings. An old saying goes, "Beijing represents the last 1,000 years of Chinese history and Shanxi represents the last 3,000 years." Located in the centre of the Dragon City, Kempinski Hotel Taiyuan is a contemporary hotel that blends European flair with Chinese tradition. The hotel is close to the city's main shopping centre...
Florida’s 517-room W Fort Lauderdale Welcomes Cesar Wurm as Director of Sales and Marketing
W Fort Lauderdale | August 14, 2013
FORT LAUDERDALE, FL - August 14, 2013 - W Fort Lauderdale is proud to announce the appointment of Cesar Wurm as the new director of sales and marketing. A Starwood veteran, Wurm will be responsible for continuing to drive occupancy and overseeing all marketing and public relations efforts at the oceanfront resort. "Cesar is an accomplished sales and marketing professional and we are so thrilled that he has chosen W Fort Lauderdale to further showcase his talents," said Tara Whitmire, director of human resources at the hotel, "We're eager to apply his expertise to our incredible team that strives to offer the best guest experience possib...
Lodging Econometrics Releases its 2015 Forecast for New Hotel Openings Predicting 739 U.S. Projects
August 13, 2013
August 13, 2013 - Lodging Econometrics' (LE's) forecast predicts New Hotel Openings of 739 Projects/ 82,587 Rooms for 2015, representing a growth rate for new supply of 1.6%. This is a slow, moderate but steady uptrend improvement over 2011's cyclical bottom of 346 Projects/ 37,193 Rooms. Despite these increases, the industry is still far away from the peak for New Openings of 1,341 Projects/ 154,258 Rooms set in 2008, a feat that will not likely be repeated until late this decade, if at all. The 2015 forecast is contingent upon two factors; that the hotels already in the Pipeline continue to migrate forward at the quickened pace establ...
Hilton Worldwide and Lanzhou Friendship Hotel to Open 389-Room Hilton Lanzhou in China in Q1 2017
Hilton Hotels & Resorts | August 12, 2013
August 12, 2013 - LANZHOU, China - Hilton Worldwide today announced the signing of a management agreement with Lanzhou Friendship Hotel to build a hotel consisting of approximately 389 guest rooms in Lanzhou, the capital of Gansu province. Scheduled to open in the first quarter of 2017, the 389-room Hilton Lanzhou will reside in the city's central commercial district and provides Hilton Worldwide with greater access to China's rapidly developing northwest China. Francis Lee Wee-Hau, senior vice president of development, Greater China & Mongolia, Hilton Worldwide said, "The introduction of our flagship Hilton property to Gansu provin...
Allan Farwell Appointed as General Manager for Hawaii’s Hyatt Regency Maui Resort and Spa
Hyatt Regency Maui Resort and Spa | August 7, 2013
Lahaina, Hawaii (August 7, 2013) - Hyatt Regency Maui Resort and Spa recently announced the appointment of Allan Farwell as General Manager. Farwell, most recently the General Manager at Hyatt Regency Indian Wells, joins the Hyatt Regency Maui team as General Manager with over 35 years of experience in the hospitality industry. A seasoned Hyatt veteran, Farwell has served as General Manager for various Hyatt hotels for 23 years, overseeing luxury and flagship properties across the United States. "After six years in beautiful Indian Wells, I am thrilled to bring my experience to the outstanding team at Hyatt Regency Maui," remarked Farwe...
Colorado’s 230-room Renaissance Denver Downtown City Center to Open Late in 2013
the Renaissance Denver Downtown City Center | August 7, 2013
DENVER, COLO. - August 7, 2013 - One of Denver's most iconic structures, the historic Colorado National Bank building, will welcome travelers as the new Renaissance Denver Downtown City Center in late 2013. The hotel will feature 230 guestrooms, 6,000 sq. ft. of meeting space and Range, an original concept restaurant and bar, serving locally-purveyed cuisine inspired by the Rocky Mountain West. Imbued with a series of 16 original murals from the iconic western muralist Allen Tupper True, the property showcases historic elements from the building's initial construction in the early 20th century, juxtaposed with the accommodations, amenit...
Property Improvement Plan (PIP) & Capital Expenditure Decisions for Canadian Hoteliers
Graham Coe, of HVS | August 6, 2013
By Graham Coe This article discusses recent trends in the Canadian lodging industry and their impact on capital expenditure and property improvement plan (PIP) requirements. Elements of an effective PIP and different PIP scenarios are also examined. Property Improvement Plan (PIP) & Capital Expenditure Decisions for Canadian Hoteliers The physical condition of a hotel property is one of the most important determinants of operating performance and, ultimately, market value. When faced with capital expenditure, property improvement plan (PIP), or re-branding decisions, hotel owners must make the right decisions in order to maximize op...
Aston Hotels & Resorts to Manage Tuscana Resort Orlando in Davenport, Florida
Tuscana Resort Orlando by Aston | August 5, 2013
HONOLULU - August 5, 2013 - Aston Hotels & Resorts, an operating business of Interval Leisure Group (Nasdaq: IILG), today announced the addition of Tuscana Resort Orlando in Davenport, Florida, expanding its portfolio to 28 hotels and condominium resorts. "Tuscana Resort offers guests deluxe accommodations close to Orlando's best attractions," said Kelvin Bloom, president of Aston Hotels & Resorts. "With its beautiful architecture and exceptional amenities and services, Tuscana Resort is an excellent addition to our Aston Condominium Collection." Guests experience the magic of this special Mediterranean-style resort from the mom...
