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G6 Hospitality Honors 2017 Franchisee of the Year Recipients Along with Top Performer Awards
G6 Hospitality LLC | November 16, 2017
ORLANDO, Fla.--November 16, 2018--G6 Hospitality, the all-American leader in economy lodging and known for its iconic brands Motel 6 and Studio 6, announced the 2017 Franchisee of the Year along with other award recipients as part of the company's annual brand convention held earlier this month at the Grande Lakes Resorts in Orlando. Themed "The Magic Within", the conference celebrated the brand's leading franchisees, including the 2017 G6 Hospitality Franchisees of the Year Rajashekar M. Reddy of the Motel 6 in Marble Falls, Texas and Nilesh (Mike) B. Patel of the Studio 6 in Mesa, Arizona. G6 Hospitality leaders, franchisees and speci...
Hospitality Financial Leadership – Runnin’ Down a Dream
David Lund | November 13, 2017
By David Lund Yeah, runnin' down a dream - That never would come to me - Workin' on a mystery, goin' wherever it leads - Runnin' down a dream – Tom Petty In life we think dreams, big ideas and accomplishments are someone else's domain, but not ours. We think those people are special, gifted, magical. They were the ones who were chosen for that higher calling to be that explorer, the writer or the leader that made a difference and really had something special to do and share with the world. Well, that is not true. We all have that something and it is right there, inside of us and we can see it, feel it and we know i...
Asset-Managing the 2018 Budget Story
Gary Isenberg | November 9, 2017
By Gary Isenberg As summer tumbles into fall, hotel asset managers grapple with the annual challenge of reviewing and approving budgets for their hotel or hotels. As they leaf through page after page of a budget submitted by management and cobbled together with input from all facets of hotel operations—from housekeeping and food and beverage to maintenance and marketing—asset managers ought to look beyond the spreadsheets and revenue projections to conclude whether they are reading a great story. In the case of a hotel budget, the tale being told is that of the asset's revenue goal for the coming year and how it will achieve...
Hospitality Financial Leadership – Four Important Things to Know
David Lund | November 7, 2017
By David Lund By creating and delivering my hospitality financial leadership workshops, I learned four very important lessons. The lessons center around how this workshop helps leaders change and become more financially engaged. ...
Paramount Lodging Advisors Brings on New Senior Associate Sean Banilivy For Capital Markets
Paramount Lodging Advisors | November 6, 2017
Paramount Lodging Advisors (PLA) would like to introduce Sean Banilivy as PLA's newest addition to the team. Sean Banilivy is the Senior Associate that will be spearheading the newly formed Capital Markets Division for Paramount Lodging Advisors. Prior to Joining PLA, Sean founded SJ Equity Partners, where he was responsible for sourcing, underwriting, and presenting high-net worth investors on investment opportunities throughout North America. Before founding SJ Equity Partners, Sean worked for JLL's Hotels & Hospitality Group in Investment Sales, where he was responsible for producing Broker Opinion Values, underwriting, and parti...
New York Leads U.S. Markets in Hotel Construction Pipeline Followed by Houston, Dallas, Nashville and Los Angeles
Lodging Econometrics | November 6, 2017
November 6, 2017 – PORTSMOUTH, NH – According to recent reports, analysts at Lodging Econometrics (LE) state that the five U.S. markets with the largest hotel construction pipelines by project count are: New York with 181 Projects/30,225 Rooms; Houston with 148 Projects/16,398 Rooms; Dallas with 143 Projects/17,580 Rooms; Nashville, which hit a cyclical peak this quarter, has 124 Projects/16,699 Rooms; and Los Angeles has 112 Projects/16,780 Rooms. New York has the most New Hotel Openings forecasted for 2017 with 39 Hotels/6,128 Rooms, then Dallas, which is expected to open 37 Hotels/4,510 Rooms followed by Houston with 27 H...
U.S. Hotel Development Cost Survey 2016/17
Stacey E. Nadolny | November 2, 2017
By Stacey E. Nadolny Hotel development activity correlates directly with the ebbs and flows of hotel-sector performance. As we reached the peak of the current cycle in 2016, developers pursued hotel construction and redevelopment at a pace we haven't seen since 2006 and 2007. HVS has tracked Hotel Development Costs for the last three decades, collecting data from actual hotel cost budgets during our assignments. This year's sample reflects the largest sample HVS has analyzed given the number of hotels in the pipeline, as well as our growing presence in 35 U.S. markets. The data in this survey reflect budgets from 2016. With the availabi...
Avison Young Hospitality Group Announces Closings
Avison Young | November 1, 2017
ATLANTA – November 1, 2017 – The Avison Young Hospitality Group announced today that it has closed 33 hotel transactions over the past 22 weeks. It also announced the hotel practice group has closed 318 hotel transactions since 2013 consisting of 91 Marriott, 68 Hilton, 42 IHG, 27 Choice, 16 Red Roof, 14 Wyndham, 7 Carlson and 53 other branded, historical or independent hotels. "The market is still in the window of this up-cycle," said H. Keith Thompson principal at Avison Young. "This cycle began in spring of 2010 and its duration is well beyond what most expected. Based on new debt, maturing CMBS debt, public markets and n...
Homeland Security Warns Against Threats to US Infrastructure
Jim Butler | October 27, 2017
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 27 October 2017 Cybersecurity breaches and risk management continue to be a concern for businesses of all sizes and types. A recent warning distributed by the U.S. Department of Homeland Security and the FBI regarding targeted hacks in several critical industries is an illustration that anyone can be vulnerable such tactics, including the hospitality industry. My partner Bob Braun, senior member of JMBM's Global Hospitality Group® and co-chair of JMBM's Cybersecurity and Privacy Group, summarizes the recent report and its conclusions ...
Douglas Wilkins Joins B. F. Saul Company Hospitality Group as Senior Vice President of Operations
B. F. Saul Company Hospitality Group | October 24, 2017
Bethesda, MD – October 24, 2017 – B. F. Saul Company Hospitality Group, a leading owner and operator of full-service, select-service and extended-stay hotels, today announced the hiring of Douglas Wilkins as the Senior Vice President of Operations. Wilkins will be responsible for executing the company's operational objectives while driving strong and balanced results, and will report directly to President, Mark Carrier. "We are honored to bring Douglas in and have him be a part of the B. F. Saul family," said Mark Carrier, President, B.F. Saul Company Hospitality Group. "I have full confidence in his abilities and extensive ...
Resort Fee Litigation Advisory Group: How to Avoid Litigation on Resort Fees and Other Mandatory Hotel Charges
Jim Butler | October 19, 2017
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 19 October 2017 Note: If you are a consumer with a Resort Fee issue, please do NOT contact us! We do not represent consumers with complaints against hotels. We are part of the fabric of the hotel industry and are committed to informing, educating and assisting players in the hotel industry. What does the FTC say is your potential liability for mandatory hotel charges? In evaluating what you should do about the new furor over mandatory hotel charges, it would be helpful to have a clearer understanding of what the FTC seems to be saying on...
Blackstone Acquires Hotel Investment Partners and its Portfolio of 14 Coastal Resorts from Banco Sabadell in Spain
Blackstone Real Estate | October 18, 2017
October 18, 2017 - Blackstone Real Estate Partners Europe V ("Blackstone") announces that it has agreed to acquire Hotel Investment Partners ("HI Partners"), a leading Spanish hospitality company, from Banco Sabadell. HI Partners owns a portfolio of 14 primarily coastal hotels with over 3,700 rooms in Spain's most popular tourism destinations. Anthony Myers, Head of Real Estate Europe at Blackstone, said: "We are delighted to make another substantial investment in Spain and to have the opportunity to partner with the HI Partners management team, working with them to continue to execute their strategy of growing HI Partners into Spain's ...
How Hotels Can Mitigate the Digital Impact of Natural Disasters
Matt Tutt | October 17, 2017
By Matt Tutt With this year's Atlantic hurricane season being one of the 10 most active hurricane seasons on record (14 named storms and 8 hurricanes), combined with the devastating earthquakes in Mexico, the hotel industry in these affected areas have taken a serious hit—both physically through damage to their properties and financially through the loss of bookings. The Miami Herald reported that hotels in Miami-Dade were only 42 percent full between Sep 6 and 9, nearly 38% less than the same time last year. Tourism to Caribbean islands in the hurricane belt, whose islands experienced some of the worst damage, may take even longe...
Unexpectedly Slow – Hoteliers Overestimated 2016 Performance
Robert Mandelbaum | October 16, 2017
By Robert Mandelbaum From 2010 through 2015, U.S. hotels enjoyed above long-run average revenue and profit growth. Over the six-year period, total operating revenue increased at a compound annual growth rate (CAGR) of 5.8 percent, while gross operating profits grew at a CAGR of 8.9 percent. Therefore, when U.S. hoteliers sat down in the fall of 2015 to prepare their budgets for 2016, it is no surprise that they believed the strong upward momentum in revenue and profit growth would continue. Unfortunately, 2016 was a disappointment. Revenue and profits increased, but not at the levels that were budgeted. Occupancy and average daily rate ...
Hotel Lawyer: Tips on Negotiating Your Annual Hotel Budget
Jim Butler | October 16, 2017
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 16 October 2017 It is budget season again — that time when operators and owners sit down to agree on the financial blueprint for the next year. My partner Bob Braun has worked on many hundreds of hotel management agreements and issues arising under them. Today, he shares some insights about the how to maximize the budget opportunity for constructive dialog between owners and operators. It's Budget Season - What are you doing about it? by Robert E. Braun, Hotel Lawyer Importance of budgets It's hard to overstate the importance of a b...
New Builds Signal Growing Strength of Independent Hotels, New Entrepreneurial Brands, as a Dozen Teneo Member Hotels Open 2017-2018
Teneo Hospitality Group | October 10, 2017
Construction Trends Span Independent Properties, Leading Brands, Major Markets, Second Tier Cities, Historic Restoration, Contemporary Design Eden Prairie, MN, October 2017 … New hotel construction in major markets and second tier cities is signaling the growing strength of independent hotels and smaller entrepreneurial brands. The new properties span urban hotels, resorts, historic restorations, and anchors of major redevelopment programs, emerging business districts and dynamic new sports and entertainment complexes. They are breaking new ground in the areas of sustainability, art and architecture, historic preservation, food a...
Alex. Brown Realty JV with Hotel Development Partners to Develop Courtyard by Marriott in Alpharetta, Georgia
Alex. Brown Realty | October 9, 2017
BALTIMORE--October 9, 2017--Alex. Brown Realty, Inc. (ABR) and Hotel Development Partners (HDP) have announced plans to develop a 115-room Courtyard by Marriott in Alpharetta, Georgia. ABR Chesapeake Fund V, a value-add real estate fund sponsored by ABR, invested $7.2 million in the joint venture. Financing for the project will be provided by the Bank of North Georgia, a division of Synovus Bank. The joint venture recently closed on the 1.9 acre site located off of Old Milton Parkway directly across from Avalon – the 86-acre mixed-use development that is expected to be a major demand generator for the hotel. "Alpharetta is experie...
Resort Fee Litigation Advisory Group: How Resort Fees Became an Explosive $2.7 Billion Issue
Jim Butler | October 6, 2017
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 06 October 2017 Note: If you are a consumer with a Resort Fee issue, please do NOT contact us! We do not represent consumers with complaints against hotels. We are part of the fabric of the hotel industry and are committed to informing, educating and assisting players in the hotel industry. Resort Fees are a $2.7 billion issue — a juicy target for Federal and State governments as well as plaintiffs' lawyers It is very likely that the Resort Fee issue will present challenges in the near future to all stakeholders in the hospitality i...
Resort Fee Litigation Advisory Group: National Task Force of 47 Attorneys General Goes After Resort Fees
Jim Butler | October 5, 2017
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 05 October 2017 Note: If you are a consumer with a Resort Fee issue, please do NOT contact us! We do not represent consumers with complaints against hotels. We are part of the fabric of the hotel industry and are committed to informing, educating and assisting players in the hotel industry. Resort Fees: It is not just the FTC. Now there are 47 Attorneys General focused going after perceived abuses of Resort Fees Consumer complaints have been protesting Resort Fees for almost two decades. In 2012, the FTC took its first major action. The ...
Resort Fee Litigation Advisory Group: The FTC Takes Aim at Hotel Resort Fees (Again) – The FTC 2017 Report
Jim Butler | October 3, 2017
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 3 October 2017 Note: If you are a consumer with a Resort Fee issue, please do NOT contact us! We do not represent consumers with complaints against hotels. We are part of the fabric of the hotel industry and are committed to informing, educating and assisting players in the hotel industry. Impending eruption of government and private litigation over Resort Fees (mandatory service fees). Big shaking again. Is this the big one? Two significant developments may signal an eruption of government and private claims over Resort Fees — (1)...
Nakheel and Centara Reach New Milestone on 600-Room Beachfront Resort at Deira Islands; Enter Joint Venture
Centara Hotels & Resorts | October 3, 2017
Hotel management agreement confirmed as joint venture company officially incorporated Bangkok, 3 October 2017 - UAE-based master developer Nakheel and leading Thai hotel group Centara Hotels and Resorts today reached a key milestone on their 600-room beachfront resort and waterpark at Dubai's Deira Islands, with the official formation of the joint venture company and the signing of a management agreement. The joint venture, cemented by Nakheel Chairman Ali Rashid Lootah and Centara Chairman of the Board, Suthikiati Chirathivat, at a signing ceremony at Centara's headquarters in Bangkok, will deliver a family-centric lifestyle destinati...
Resort Fee Litigation Advisory Group: Impending Eruption of Litigation over Resort Fees?
Jim Butler | October 2, 2017
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 2 October 2017 Note: If you are a consumer with a Resort Fee issue, please do NOT contact us! We do not represent consumers with complaints against hotels. We are part of the fabric of the hotel industry and are committed to informing, educating and assisting players in the hotel industry. Impending eruption of government and private litigation over Resort Fees (mandatory service fees) There were earthquakes and tremblors for at least 17 years before Pompeii was destroyed in the catastrophic eruption of Mount Vesuvius in 79 AD. The past ...
Brookfield Asset Management Names Audrey Oswell President and Managing Director of Atlantis, Paradise Island
Atlantis Paradise Island, The Bahamas | September 26, 2017
PARADISE ISLAND, BAHAMAS, SEPTEMBER 26, 2017 – Today, Atlantis, Paradise Island resort in The Bahamas announced the immediate appointment of Audrey Oswell as President and Managing Director. Oswell has held the role of Chief Operating Officer at the resort since the end of 2016 and had previously held the role of Chief Gaming Officer at Atlantis from 2011 to 2013. With this appointment, Oswell becomes the first female President of Atlantis, Paradise Island. According to Andrea Balkan, Managing Partner of Brookfield Asset Management, owners of the resort, "we are extremely pleased that Audrey will elevate her leadership role at the...
Paramount Lodging Advisors Sells 12th Consecutive Property in the Indiana Market
Paramount Lodging Advisors | September 22, 2017
Indianapolis, IN -- Paramount Lodging Advisors (PLA) is pleased to announce four transactions in Indiana over the last 14 days – starting with the sale of the Quality Inn South Bend and the Quality Inn Indianapolis. The properties were sold to a single buyer for an undisclosed amount. Managing Directors Bennett Webster and Brent Clemens, Senior Associate Mike Schlictman, and Associate Hussain Waseem represented the seller in these transactions. The 246-room portfolio was ideally positioned next to the University of Notre Dame in South Bend and the I-465 Beltway in Indianapolis. The buyer was looking to substantially supplement the...
