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
Marriott, Hilton and AccorHotels Lead Construction Pipeline in the Middle East and Africa
Lodging Econometrics (LE) | June 8, 2018
June 8, 2018 – PORTSMOUTH, NH – According to the recent Hotel Construction Pipeline Trend Reports for Africa and the Middle East, the top hotel company construction pipelines in the Middle East and Africa are: Marriott International with 154 Projects/33,386 Rooms, Hilton Worldwide with 130 Projects/32,725 Rooms, AccorHotels with 103 Projects/25,430 Rooms, Radisson Hotel Group with 44 Projects/11,184 Rooms and InterContinental Hotels Group (IHG) with 31 Projects/7,445 Rooms. The largest brand in the Pipeline for each of the these companies are: Marriott's Courtyard with 23 Projects/5,033 Rooms, Hilton's full-service hotel wit...
HOTEL and AMResorts Launch the Brand Reflect® Resorts & Spas
HOTEL | June 6, 2018
MEXICO CITY, June 06, 2018 -- Grupo Hotelero Santa Fe, S.A.B. Of C.V. (BMV:HOTEL) ("HOTEL" or "the Company"), one of the leading companies in the hotel industry in Mexico, announces the signing of a strategic alliance with AMResorts. With this strategic alliance, a co-branding will be implemented between Reflect® Resorts & Spas brand and Krystal Grand® brand for the hotels in Punta Cancun, Los Cabos and Nuevo Vallarta that altogether, represent 1,329 rooms. With this alliance we expect to significantly increase sales of our three hotels, in addition to the opportunity to expand this partnership to more pr...
AccorHotels Tops Europe’s Construction Pipeline Followed by Marriott, Hilton and IHG
Lodging Econometrics | June 6, 2018
June 6, 2018 – PORTSMOUTH, NH According to a recent Hotel Construction Pipeline Trend Report for Europe, analysts at Lodging Econometrics (LE) report that the top global hotel companies in Europe's Construction Pipeline are: AccorHotels with 209 Projects/26,936 Rooms, Marriott International with 187 Projects/31,855 Rooms, Hilton Worldwide with 170 Projects/26,870 Rooms and InterContinental Hotels Group (IHG) with 133 Projects/22,590 Rooms. The largest brands in the Pipeline for each of the these companies are: Accor's Ibis Styles with 50 Projects/6,498 Rooms, Marriott's Moxy with 56 Projects/10,302 Rooms, Hilton's Hampton Inn w...
Europe’s Hotel Construction Pipeline Is Healthy and Continues to Rise
Lodging Econometrics | June 4, 2018
June 4, 2018 – PORTSMOUTH, NH According to a recent Hotel Construction Pipeline Trend Report for Europe, analysts at Lodging Econometrics state that the Total Pipeline is climbing steadily with 1,366 Projects/214,792 Rooms, a 29% increase by projects Year-Over-Year (YOY). The pipeline in Europe has nearly doubled since the cyclical low of 687 Projects/116,272, recorded in Q3 of 2010. There are 715 Projects/115,869 Rooms Under Construction, up 36% by projects YOY. Projects Scheduled to Start Construction in the Next 12 Months are at 391 Projects/61,928 Rooms, up 35%, while projects in Early Planning are at 260 Projects/36...
GDPR: What You Need to Know About the EU’s New Data Privacy Rules
Jim Butler | May 31, 2018
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 31 May 2018 The European Union's General Data Privacy Regulation, rules protecting the privacy of personal information, has gone into effect and impacts every company that does business in the EU. This will impact hotel owners, developers, brands, operators and managers–any company with a hotel property in the EU or that collects information from EU citizens must adhere to the new regulations. What does that mean for your business, and where should you start the process of compliance? Senior member of JMBM's Global Hospitality Group...
Dallas Suites RE and Aimbridge Hospitality Complete Sheraton Suites Market Center Dallas’ Multi-Million Dollar Renovation
Dallas Suites RE, LLC subsidiary of Spring Valley Hospitality | May 30, 2018
Project Completion includes the addition of Arbor Kitchen, the newest restaurant in the Dallas Design District (DALLAS) June 5, 2018 – Sheraton Suites Market Center Dallas hotel, completes a six-month, multi-million dollar, full-scale property renovation including 253 suites, meeting spaces, lobby and common gathering areas, new outdoor patio, upgraded internet, extended fitness center with new Life Fit equipment, entertainment area, and newly appointed Sheraton Club Lounge, as well as the launch of Arbor Kitchen, a brand new farm-to-table restaurant. The property is owned by Dallas Suites RE, LLC and managed by Aimbridge Hospital...
Paramount Lodging Advisors Team Arranges Sale of the Holiday Inn Express St. Louis – Central West End St. Louis, MO
Paramount Lodging Advisors | May 25, 2018
St. Louis, MO—Paramount Lodging Advisors (PLA) has successfully sold the Holiday Inn Express St. Louis - Central West End (CWE) located at 4630 Lindell Blvd. PLA Associate Beau Mullenix, Managing Director Adam Montufar, and Senior Managing Directors Bennett Webster and Brent Clemens representing the seller in this transaction. The sale of the 127-room Holiday Inn Express adds to PLA's continued success both in St. Louis and on the Ten-X platform. The hotel is located in the epicenter of CWE's most high-profile retail and multi-family developments. "We were extremely pleased with the interest level received during this mar...
Hospitality Financial Leadership: The Three Dimensions of Delegation
David Lund | May 21, 2018
By David Lund Delegation has three dimensions that are powerful tools. Delegation is also quite often misunderstood. In this article I am going to explain my thoughts on how to use delegation to be more productive, to grow your own abilities and to help you see the way forward using delegation to develop others. First off let's examine what delegation is all about and clear up some misunderstandings. I for one was not a fan of being delegated to early in my career and I did not understand how to use it properly. I thought I was being "put upon" by being delegated to. It was not until I had my first post as an assistant controller that I...
Cost vs Price vs Value of a Hotel Room
Hotelivate Private Limited | May 21, 2018
Frequently confused, often used interchangeably and seldom understood – The cost, price and value of a hotel are not the same thing! It is rather surprising that industry stakeholders routinely seem to obfuscate these distinct terms and their implications on the worth of an asset. This article aims to set the record straight and explain the specific differences when performing a hotel's monetary assessment. In a bid to avoid 'death by jargon', I'm also going to tell you a story… COST The total cost of a hotel is simply the accumulation of all expenditures incurred during the tenure of its development. This could include (bu...
Hospitality Financial Leadership: Why Teaching Accounting in Hotel School Is a Waste of Time
David Lund | May 14, 2018
By David Lund I have a dream. My dream is that the numbers, the numbers that so many managers agonize over in our industry, are just as accessible as guest service and employee engagement. Let me put this another way for more clarity: I want you and the other leaders and managers in your hotel to be just as comfortable dealing with the numbers as you are dealing with guests and colleagues. You might be thinking that is a tall order. Well, I do not think so. I have seen many managers overcome their fear and confusion with the numbers. I also believe a big part of why the numbers scare so many people off is because we "seemingly" do not k...
Hotel Lawyer Jeffrey T. Myers Joins JMBM’s Global Hospitality Group®
May 14, 2018
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 07 May 2018 LOS ANGELES—Jeffer Mangels Butler & Mitchell LLP (JMBM) is pleased to announce that hospitality lawyer Jeffrey T. Myers has joined the Firm as a Partner in JMBM's Global Hospitality Group® and Real Estate Department. Myers' practice focuses on the development, financing, acquisition, and operation of hotels, resorts and other hospitality properties. His clients include developers, capital providers, commercial lessors, and tenants. He has assisted clients in a full range of hospitality projects including hotels, ...
Proposition 65 Defense Lawyer: Is Your Hotel Ready for the New Prop 65 Regulation Deadline? / Jim Butler
Jim Butler | May 14, 2018
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 07 May 2018 Advice from a Proposition 65 Compliance & Defense lawyer for hotels. For many years, businesses operating in California have been plagued by "bounty hunter" and government lawsuits brought under Proposition 65 — the California law that requires warnings about hazardous substances. The technical disclosure requirements have bedeviled many legitimate businesses for some time. From our continuous interaction with members of the hotel industry, it appears to us that many are not aware of new requirements they must meet b...
Avison Young Hospitality Group Discusses 2018 Hospitality Market Trends
Avison Young | May 10, 2018
Principal H. Keith Thompson highlights key developments during 2018 By: H. Keith Thompson, principal, Avison Young Hospitality Group Thursday May 10, 2018 The last five months have been unusual for the hotel transaction market. Some of the hotel real estate investment trust (REIT) stocks began to compress in late January, resulting in fewer REIT purchases than the first five months of the same time period in recent years. This market change began after the ALIS hotel investor conference in late January, which is somewhat countercyclical, given there is usually an uptick in stocks after investment conferences. Clearly, market analysts he...
The 2018 LIIC Top Ten: The Annual Survey of Lodging Investments Trends and Challenges
May 8, 2018
"Hotel Real Estate: Floating Forward in a Fluid Market" DENVER, 8 May 2018-- For well over a decade, the members of the hotel industry's preeminent think tank, "LIIC – The Lodging Industry Investment Council," are annually surveyed to develop a list of the major hotel investment opportunities and challenges for the coming year. This exhaustive survey results in the LIIC Top Ten, a highly regarded profile of investment sentiment and attitudes for the lodging industry for the forthcoming 12 months. Altogether, the members of LIIC represent direct acquisition and disposition control of well over $40 billion of lodging real ...
Hospitality Financial Leadership: Beverage Cost or Contribution Margin?
David Lund | May 7, 2018
By David Lund We all heard about it every month. The beverage cost! And it usually was not very pretty. Seemingly always too high, and it typically created lots of finger pointing and much pontificating. Beverage cost was always a slightly complex beast and often misunderstood. That was largely because this poor cousin to food cost was shrouded in a bit of mystery and mystique, like a secret lost cocktail recipe. Let's have a closer look at the black sheep of the family. Many people are simply confused by beverage cost and, while it is an important standard to maintain, the real game to understand is contribution margin. What makes the ...
Hospitality Financial Leadership: Hotel Current Assets – What You Need to Know
David Lund | April 30, 2018
By David Lund When we cross the bridge in the hospitality financial world to the greater business world, the concept of an asset and how it is used comes full circle. I am going to explore what is unique about hospitality assets and how we record and use them. I am only going to talk about current assets in this article. First of all, an asset is something you have paid for or earned previously that can be used to generate more income. That is the critical test: Can you use this item to make more money, to create more economic activity? If you bought it or created it previously and can use it to generate more income, it is an asset. Ite...
Analysis Reveals Costly Impact of New York City’s Plan to Curb Hotel Development in M1 Zones
LW Hospitality Advisors | April 25, 2018
NEW YORK, April 25, 2018 -- Leading hotel industry analyst LW Hospitality Advisors has announced the findings of a comprehensive M1 Zoning Hotel Market Analysis completed in advance the City's decision whether to certify the Proposed Action as early as next week. The report identifies the potential unintended economic and social impacts for New York City if the proposed special permit to limit new hotel development in M1 zoning districts is adopted by the New York City Department of City Planning (DCP). As indicated by one of the report's authors, Robert Van Laer of LW Hospitality Advisors, if the special permit is granted, New ...
Evolution Of Asset Management In India’s Hotels
Hotelivate Private Limited | April 25, 2018
Not too long back, hotel ownership and hotel management in Asia were like Siamese twins – co-joined at birth, despite being distinctly different from each other. Four domestic chains largely dominated the hotel ownership landscape – IHCL (Taj), EIH (Oberoi) and ITC (ITC Hotels, WelcomHotel) and the government-owned ITDC (Ashok). Most of these started as a single hotel entity but thereafter grew organically and, in the fullness of time, some of these companies have been able to create enviable brands that have the strong recall at a global level. However, business was carried out via a rather linear equation wherein the ownin...
AD1 Global Commences Renovation on the Wyndham Garden Tallahassee Capitol
AD1 Global | April 23, 2018
AD1 Global announced today that it has begun renovating the Wyndham Garden Tallahassee Capitol. The multi-million-dollar projects began two weeks ago and is slated to be complete in September. "We are doing it in phases," said Chief Operations Officer Gilberto Sanchez. "We hope to finish the first floor in May and then we start the second and third floor right after that." The renovations are meant to reflect the new Wyndham Garden prototype which emphasizes guest comfortability and usability. "The Wyndham Garden properties are typically located in business, airport, and suburban areas. The design philosophy is to offer a tasteful, inti...
Hospitality Financial Leadership: Fixed/Variable Costs and Room Revenue Management
David Lund | April 23, 2018
By David Lund Lately, I have spoken to several revenue managers who have told me how much their cost is to take a room—to make that last sale of the day. What I heard concerns me because it tells me some people do not understand the fixed vs. variable components of payroll and expenses in their hotels. Quite simply put, one revenue manager told me his cost to take a room in his hotel in NYC was $290. "What?" I exclaimed over the telephone. "Yes, that's the cost." To which I replied, "That's the total cost of all your expenses, both fixed and variable?" Silence ensued for a moment and I said, "Let's slow things down and look at the...
Avison Young Hospitality Group Releases Timely Video Discussing Q2 Hospitality Trends
Avison Young | April 23, 2018
ATLANTA – April 23, 2018 – The Avison Young Hospitality Group recently released its second-quarter video on the state of the hospitality market. In the video, Keith Thompson, principal, Avison Young, discusses current trends, whether public or private hotel owners should hold, sell or refinance their asset and why the opportunity to make a move is now. For additional information about The Avison Young Hospitality Group, visit hospitality.avisonyoung.com. ...
Who Will You See at Meet the Money?
Jim Butler | April 19, 2018
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 18 April 2018 - It's almost May, so our annual Meet the Money® Conference is almost here! JMBM's Global Hospitality Group® will host the 28th year of our national hotel finance and investment conference May 7-9, 2018 at the Hyatt Regency LAX. This must-attend event gives you access to plenty of efficient networking and the latest insights into industry trends and strategies. The industry's top hotel owners, developers, operators, brands, investors, lenders, and other capital providers come together every year at Meet the Money to ...
SOPHY Hyde Park: A Groundbreaking Hotel Evokes the Best of Historic Hyde Park’s Architecture & Design
SOPHY Hyde Park | April 18, 2018
Chicago, IL – April 18, 2018. For locals and visitors alike, Hyde Park holds a unique place in the history of Chicago. This historic neighborhood, home to the University of Chicago and one of the most racially and culturally diverse areas in the city, has a rich legacy of intellectual, artistic and cultural innovation that continues to this day. The developers and designers of the first luxury boutique hotel in Chicago's South Side in over a generation took inspiration from this unique heritage when creating SOPHY Hyde Park. The name of this new 98-room boutique hotel is rooted in the Greek word "sophia," meaning wisdom and dedica...
Factors Driving Hotel Wellness, Asset Management and Revenue
Mia A. Mackman | April 17, 2018
By Mia A. Mackman This article reveals how spa and wellness aspects are disseminated throughout the whole guest experience, and how wellness motivated design and construction elements complement property development, enhance marketability and engagement and is spurring new growth across the hospitality sector. This article also examines how critical management adjustments, and product and service enhancements can significantly add value, increase RevPAR and improve average daily rate performance. Built-In from the Ground Up Hotel design aspects have lined up with wellness construction counterparts and evolved into a thriving wellness-...
