CBRE Expects RevPAR Growth to Improve in H2 2024, Driven by Holiday and International Travel
CBRE Group, Inc. | May 16th, 2024
Paramount Lodging Advisors Successfully Transacts Chicago Renaissance OHare Hotel
Paramount Lodging Advisors | November 7th, 2023
Anna Rench Joins McNeill Hotel Company as Vice President of Asset Management and Acquisitions
PDK PR | August 14, 2018
Germantown, TN, August 14, 2018 – McNeill Hotel Company, a growing nationally-recognized hotel owner, developer, and manager, announced today that it has hired accomplished industry executive Anna Rench to serve as the company's Vice President of Asset Management and Acquisitions. Mark Ricketts, President and Chief Operating Officer, made the announcement. In this newly created position, Anna will be responsible for the asset management of the company's existing portfolio that is currently comprised of 17 select service properties, as well as sourcing new opportunities for continued platform growth. Prior to joining McNeill, Anna ...
Contractor’s Perspective on Renovating Chain Hotels Versus Boutique Hotels
Cicero's Development Corporation | August 9, 2018
PLAINFIELD, IL, AUGUST 9, 2018 -- With a booming economy, Americans are spending increasingly more time traveling. Luckily, when it comes to hotels, they have more options than ever, from the tried-and-true branding of large chains to smaller boutique hotels aiming to provide unique, one-of-a-kind experiences. Both options work, but offer distinctly contrasting atmospheres. These contrasts pose challenges to renovation contractors. Construction procedures and design goals differ greatly between chain and boutique hotels. Boutiques have become synonymous with the idea of quirky cool while major chains rely upon uniform, pre-approved Prop...
Greystone Hotels Completes Multi-Million Dollar Renovation of The Bristol Hotel San Diego
The Bristol | August 8, 2018
SAN FRANCISCO, CA – Greystone Hotels, owner and operator of a collection of boutique hotels across California, announces the completion of a $7 million renovation of The Bristol Hotel. The multiphase project involved the remodel of the pre-existing 102 guest rooms and bathrooms together with conversion of the top floor meeting and event space into 12 news rooms and suites to create a 114-room hotel, with a brand new state-of-the-art fitness center located on the top floor. The hotel also instituted a complimentary expanded continental breakfast in the former restaurant space on the ground floor just off the lobby, which is also co...
Hospitality Financial Leadership: Light Bulb Moments
David Lund | August 6, 2018
By David Lund I have had a few of these. The ones that stand out the most for me are the ones that I experienced from my father. Growing up I was not what you would call a high achiever. My grades in school were not great by any measure. I had friends and my social network was solid. I had a girlfriend in junior high school and that was probably what saved me from being somewhat of a delinquent. I was always curious about the things you were not supposed to do. I always thought my dad was somehow disappointed in me and my behavior and choices. Two light bulbs I experienced through my dad. The first one came when I graduated from high sc...
DoubleTree by Hilton Deerfield Beach – Boca Raton, Florida Acquired by the Vista Hospitality Group
Vista Hospitality Group | August 3, 2018
ONTARIO (August 3, 2018) – In its third M&A transaction in as many months, the Vista Hospitality Group announced on Wednesday that it has acquired the DoubleTree by Hilton Deerfield Beach – Boca Raton in Florida from an unnamed seller in an off-market transaction. Vista has acquired select properties from that particular seller in the past, and their respective management teams seized upon a unique opportunity to work together again on the disposition and purchase of a superb property in a strong Florida market. Vista Hospitality has also recently acquired the Sheraton Baltimore Washington Airport – BWI in Maryland...
Hotel Investment News – Leisure Real Estate Advisors, LLC Announces the Sale of the Fairfield Inn & Suites, Downtown, Wichita, KS
Leisure Real Estate Advisors, LLC | August 3, 2018
Leisure Real Estate Advisors, LLC, (LREA) is pleased to announce it has arranged the sale of the Fairfield Inn & Suites downtown, Wichita, KS, Leisure Real Estate Advisors represented a Wichita based investor. Four G, LLC in the transaction. Jim Korroch of Landmark Hotel Advisors, LLC, in an affiliate relationship with LREA, also assisted FourG and facilitated the sale. Midas Old Town Wichita, LLC, an investment group based out of St. Louis, MO, purchased the 131 unit hotel for an undisclosed price. The listing price was $12,700,000. "The Marriott brand, especially a city center based Fairfield Inn & Suites, will always attract ...
New York City, Dallas and Houston Markets Lead U.S. Construction Pipeline
Lodging Econometrics | August 2, 2018
August 2, 2018 – PORTSMOUTH, NH According to the second quarter construction pipeline trend report by Lodging Econometrics (LE), the top five markets with the largest hotel construction pipelines are: New York City with 169 projects/29,365 rooms; Dallas with 156 projects/18, 908 rooms; Houston with 150 projects/16,321 rooms; Nashville with 123 projects/16,392 rooms; and Los Angeles with 121 projects/18,037 rooms. The five top markets with the most projects currently under construction are New York City with 101 projects/17,108 rooms, Dallas with 47 projects/6,350 rooms, Nashville with 43 projects/7,005 rooms, Houston wit...
Hospitality Financial Leadership – Flower Power
David Lund | July 30, 2018
By David Lund It was the spring of 1995 and I had recently transferred from one hotel back to the regional base and into a newly created position as the regional operations analyst. The job was tailor-made for me. The position was the brain child of our regional vice president. I was to assist him in the review of operational financial performance for the hotels in our region. In the year that followed I learned so many valuable lessons from our work and his experience, style and, above all else, his common sense. Here's one of my favorite episodes as Regional Operations Analyst During one of our early discussions my new boss told me th...
Paramount Lodging Advisors (PLA) Sells the Four Points by Sheraton & Banquet Center Sacramento International Airport
Paramount Lodging Advisors | July 27, 2018
Sacramento – Paramount Lodging Advisors has successfully sold the 100-room Four Points by Sheraton & Banquet Center Sacramento International Airport. The PLA team members representing this sale were Senior Managing Director, Scott Griemsmann and Associate Subu Thiagarajan. This PLA-arranged sale is one of the highest price per key transactions (PPK) in the Sacramento region and one of the highest PPK Four Points by Sheraton trades in the country. JMK Hotels LLC/The Kehriotis Family purchased the hotel. Future plans for this hotel include a $2-million full-scale renovation to include an exterior refresh, all guestrooms, common ...
Hospitality Financial Leadership: Educating Our Leaders Is the Highest Form of Service
David Lund | July 23, 2018
By David Lund If Serving is Beneath You, then Leadership is Beyond You While creating hospitality financial leadership workshops, I learned three very valuable lessons. The third lesson was by far the most powerful and transformating for me and my way of seeing the role I was playing as a financial leader. First lesson: Students like learning, subject matter and material They all responded very positively to the workshops and subject matter. From this revelation I realized that students could now see that this "financial piece" everyone touts as the hard and confusing part of hospitality, was indeed not so difficult. It is very accessib...
How to Use Data to Build a Profitable Resort
Luz Candelas | July 11, 2018
By Luz Candelas When I became a Director of Architectural Projects in August 2016, it was to provide our owners with a more data-driven approach to resort construction. How existing resorts are operated and how new properties are developed must keep pace with both technology and planned growth. Your project managers, working directly with resort owners, should create cohesive brand standards. You want to assure resort guests that certain aspects of their stay will always be consistent. The focus needs to be on constantly delivering high quality dining, entertainment and bathroom amenities and still provide a new and unique experience at...
Is GDPR Legislation Coming to U.S. Hotels?
Jim Butler | July 10, 2018
By Jim Butler and the Global Hospitality Group® 10 July 2018 Privacy legislation is dominating the news cycle these days–and it's unlikely to slow down. Now, as U.S. companies are adjusting to the requirements of the European Union's General Data Protection Regulation, the State of California has introduced new laws that will apply to California companies or companies doing business in California. Senior member of JMBM's Global Hospitality Group® and Co-Chair of the Firm's Cybersecurity & Privacy Group Bob Braun discusses the implications of the new legislation and how it will impact hotels, below. California Adopts th...
Hospitality Financial Leadership: Why Hotel Brands and Franchisers Secretly Love the OTAs
David Lund | July 9, 2018
By David Lund I know we all hear the battle cries every day in our industry, but what's really going on with hotel brands, franchisers, the online travel agents and their war over commissions and fees? In this piece, I am going to expose an angle that I think needs some light. It gets back to a fundamental understanding of how our industry functions based on its evolved structure, with brands and owners. I also believe this is a good lesson in hotel business strategy, to understand what underpins the relationship between the warring parties and what drives the business model with hotel franchisers and brands. The first thing to know abo...
Leisure Real Estate Advisors, LLC Selected to Represent a Hilton-Marriott Portfolio in Salina, KS
Leisure Real Estate Advisors, LLC | July 7, 2018
Leisure Real Estate Advisors, LLC, is pleased to announce its engagement as exclusive marketing agent for the sale of a three property Hilton-Marriott branded portfolio located in Salina, KS. "We are extremely pleased to have received this assignment", says Brent A. Jaynes, co-founder and managing partner of Leisure Real Estate Advisors, LLC. "The Hilton and Marriott names are premium brands and represent institutional grade name recognition", comments Mr. Jaynes. "All of these fine hotels are well positioned within this market and represent very attractive assets to potential investors." The Hilton Garden Inn opened in Sept, 2017 and i...
Hospitality Financial Leadership: Top 10 List – How to Create More Hospitality Financial Leadership
David Lund | July 2, 2018
By David Lund 1. You can increase the way you lead your team financially. Create an environment that has your managers working together on the "business" of running your hotel. It all starts by knowing that it is a team effort and it can't be done properly by only the executive. Line level managers need to be included. The idea that someone produces numbers in a vacuum and gives them to a manager to hit is absurd. If you're doing that today, stop it. 2. Know this, what we place our attention on grows. Financial leadership in your hotel is no different. Like service and colleague engagement we must invest time, resources and our efforts ...
AccorHotels Agrees to Acquire 50% in sbe for $125 Million With Promise of $194 Million in Additional Investment for Future Development
sbe | June 29, 2018
AccorHotels and sbe Entertainment Group ("sbe") have signed a Letter of Intent and entered into exclusive negotiations for AccorHotels to acquire a 50% stake in sbe, further illustrating AccorHotels's strategy to expand its offering in the luxury lifestyle hospitality segment. This partnership will combine the expertise and savoir-faire of the two groups; AccorHotels will acquire the 50% of sbe's common equity held in part by Cain International for $125 million. Sam Nazarian will continue to own the remaining 50% of sbe. In addition, AccorHotels will invest $194 million in a new preferred debt instrument that will be used ...
Weighing up the Pros and Cons of Soft Brands
Amistad Hotel Marketing Partnership Ltd | June 29, 2018
Today's AP voice is from our managing director Beate Christeleit. At Amistad, we have seen a substantial increase in the number of "soft brands" in the past few years. While there are obvious benefits for independent hotels, it's worth taking a deeper dive into the benefits and disadvantages and other possible options, such as hotel representation companies. Let's start with the basics of what we define as a soft brand. Some well-known examples are Marriott International's Autograph Collection launched in 2010, or The Luxury Collection acquired by Starwood Hotels & Resorts in 1998. The theory behind soft brands is that independent h...
New “Accessibility” Regulations for Electric Vehicle Charging Stations
Jim Butler | June 25, 2018
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 21 June 2018 As the number of electric and hybrid vehicles in California continues to grow, we are also seeing the proliferation of electric vehicle charging stations in the parking areas provided by hotels, theaters, stadiums and hotel mixed-use properties. While owners and managers of these facilities are providing a much-needed service to their guests, many are unaware that – at least in California – if their facility provides electric vehicle charging stations, a certain number of them must be accessible to the disabled. T...
Avison Young Hospitality Group Expects Strong Transaction Market in 2018
Avison Young | June 21, 2018
By Keith Thompson Principal, Avison Young Hospitality Group ATLANTA – June 21, 2018 – The Avison Young Hospitality Group continues to see aggressive transaction levels during the first two quarters of 2018. Although we don't advertise each closing, we are expecting another strong transaction year for all brokerage shops. We currently have a healthy stable of hotel transactions lined up over the next several months and continue to see accretive value in the market cycle. For the past six months we have advised clients that the sale cycle has, or, is peaking and disposition decisions should happen now. If not, we tell them the...
HVS Design and JN+A Release 2018 Hotel Cost Estimating Guide
HVS | June 21, 2018
HVS Design and Jonathan Nehmer + Associates (JN+A) are proud to announce the completion of the 2018 Hotel Cost Estimating Guide. The Guide is a comprehensive listing of capital expenditure construction and FF&E costs for hotel renovations in the USA. ...
What Do Top Hotel Executives See on the Horizon for 2018?
Jim Butler | June 20, 2018
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 20 June, 2018 Meet the Money® is a productive conference with a casual atmosphere; the executives and other hotel industry representatives who attend often speak candidly about their expectations for hotel finance, development and investment throughout the upcoming year. The short video below highlights how some of our attendees feel about 2018—watch and find out what some of the industry's most well-known brands, banks, consultants, mangers and developers have to say about what's on the horizon. For more in-depth data and resea...
Paramount Lodging Advisors Team Sells Hampton Inn in Victoria, TX
Paramount Lodging Advisors | June 14, 2018
Victoria, TX—Paramount Lodging Advisors (PLA) has arranged the sale of the Hampton Inn Victoria, TX. Managing Director Kami Burnette and Senior Associate Hussain Waseem sold the property via the Real Insight Marketplace platform. The 68-room hotel is located just north of downtown Victoria and is proximate to all broader area Victoria demand. Future plans under new ownership include a significant renovation to meet Hampton's Forever Young standard. "The increasing commodities pricing is stabilizing the region and have presented a profitable opportunity for the new owner to add a premium brand to his hotel portfolio," stat...
Welcome Group, Inc. Commences Construction on Southern California’s First AC Hotel by Marriott in El Segundo
Welcome Group Inc. | June 12, 2018
Construction for Marriott's new hotel, AC Hotel El Segundo/LAX has commenced, Welcome Group, Inc. announced today. The groundbreaking marks the third Southern California location by AC Hotels by Marriott, the company's boutique-lifestyle brand, and what will be a hotel unlike any other in the area. The design-centric hotel is set for completion in late spring of 2019 and will feature open-concept floorplans and aesthetic influenced by Spanish design. The project, led by Welcome Group, Inc., will consist of 180 rooms and span six floors. Amenities will include a rooftop bar, a craft beverage and food program, meeting space and multiple p...
CBRE Hotels Arranges Sale of the West Inn & Suites Carlsbad
CBRE Group, Inc. | June 11, 2018
Newport Beach, California – June 11, 2018 – CBRE Hotels has arranged the sale of the 86-room West Inn & Suites in Carlsbad, California for an undisclosed price. CBRE Hotels represented the seller, West Real Estate LLC, who had developed the hotel along with the West Steak & Seafood Restaurant, Bistro West Restaurant, and a gas station/minimart at Cannon Road and Interstate 5 in 2006. The buyer was an affiliate of San Diego-based Pacifica Companies. The three-story upscale boutique hotel features high-end finishes and focuses on detail serving both the leisure and corporate markets. The proximity to LEGOLAND, Palomar ...
