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JMBM Has Sourced More than $700 million of EB-5 Financing for New Development Projects
Jonathan Bloch | March 23, 2015
By Jim Butler and the Global Hospitality Group® 23 March 2015 Click here for the latest articles on EB-5 Financing. The buzz continues on EB-5 financing for development projects. EB-5 financing is an important and viable source of construction financing for hotels, hotel enhanced mixed-use, and other development projects. Five years ago, when JMBM started helping hotel developers with EB-5 financing, many worried about whether this is a legitimate and reliable financing source. Now, after billions of dollars of development have been funded with EB-5, this type of financing is regarded as mainstream, and is used by many institution...
Hotel AG Closes The Riverhouse Hotel & Convention Center in Bend, Oregon
Hotel AG | March 11, 2015
ATLANTA - March 11, 2015 - Hotel AG announced today the firm has closed on the sale of The Riverhouse Hotel & Convention Center located in Bend, Oregon. The Riverhouse Hotel & Convention Center is a full-service hotel and conference center considered one of the premier meeting destinations in the Northwest. The property consists of 220 guestrooms and a 30,000-square-foot LEED Silver meeting facility situated on 15 acres along the Deschutes River in the center of Bend. "Bend has been a hot spot for decades offering visitors year-round activities and The Riverhouse Hotel & Convention Center has been a hospitality cornerstone i...
Hotel AG Continues Closing Pace
Hotel AG | March 5, 2015
ATLANTA - March 5, 2015 - Hotel Assets Group, LLC (Hotel AG), announced today the firm continues to see a rapid pace of closings. The firm has sold or advised on 195 separate hotel transactions for the last trailing 24 months. A few of the recent closings in 2015 included a full-service resort hotel in Oregon that sold for $143,000 a room, a full-service hotel in historic downtown Savannah that sold for $220,000 a room, a Hyatt Place and Courtyard by Marriott located in the Upper Midwest, and a high-rise full-service beach front hotel located in Daytona Beach. The firm is 250% ahead in closings compared to the same period last year. Cur...
Hotel Values Rise Across Europe with Madrid Seeing Biggest Hike, Says HVS Hotel Valuation Index
HVS | March 2, 2015
02 March 2015, London: Europe's hotels witnessed their fifth consecutive year of value growth last year, with properties in the UK and Southern Europe seeing some of the biggest gains, according to the 2015 European Hotel Valuation Index, published this week by global hotel consultancy HVS. "Hotels in several cities have experienced significant value increases including Manchester and Birmingham which have both seen double digit growth following improved performance and growing investor interest," said report co-author James Heavey, analyst, HVS London. The city with the biggest value climb was Madrid, with an impressive 14% rise year-o...
hotel SystemsPro Welcomes 2015 with New Leadership, Re-Energized Focus on Client Success
hotel SystemsPro | February 26, 2015
Dedicated Team of Hotel Professionals Launch High-Performance Solutions Backed by Personal Service Atlanta - February 26, 2015 - hotel SystemsPro, a provider of high performance business solutions for hotels and hotel company owners, announced a re-energized company launch for 2015. The company, founded in 1994 will emphasize strongly-focused customer service teams and product innovations guided by Lana Perkins, CHA, hotel SystemsPro founder. Click here for more information on hotel SystemsPro products. Personal Service and Solutions for Sales and Revenue, Facilities Management, and Guest Service. "Client success is our inspiration and ...
Renewed Investor Interest Prompts 86% Rise in Europe’s Hotel Deals
HVS | February 24, 2015
24 February 2015, London: Hotel real estate was the star performer in Europe's property market in 2014 with transaction volumes growing faster than other asset classes such as office, industrial or retail space. According to the annual European Hotel Transactions report, published this week by HVS and its brokerage and investment services division HVS Hodges Ward Elliott, last year saw European hotel transaction volumes rise to a total of €14.4 billion, up 86% on 2013 - a new record since the onset of the global financial crisis. Renewed interest in the hotels market has been driven by the comparatively attractive income returns hotel...
Succession Planning for the Family-Owned Hospitality Business
JMBM | February 16, 2015
By Jim Butler and the Global Hospitality Group® Hotel Lawyers - Authors of www.HotelLawBlog.com 16 February 2015 Succession planning for the family-owned hospitality business: protecting your family and your business The hospitality industry has been kind to families over the centuries, providing a good living for many, and significant wealth for others. Whether your family owns a hotel management company or hotels - involved with one or two small properties or a large chain of hotels - the responsibilities of your family-owned business are as profound as the advantages. Ensuring that the business continues to operate and provide for t...
Local Business Owners Unite to Combat NLRB Overreach
February 11, 2015
Recent National Labor Relations Board Actions Could Jeopardize Local Businesses Across the Country WASHINGTON, Feb. 11, 2015 - In direct response to significant regulatory overreach by the National Labor Relations Board (NLRB), a group of local business owners and industry leaders launched a comprehensive lobbying, public affairs, media relations and grassroots campaign to preserve the existing joint employer standard. The Coalition to Save Local Businesses (CSLB) seeks to inform Members of Congress of the potentially devastating impact that redefining this standard would have on their businesses and the overall U.S. economy. The coalit...
Hotel Development Cost Survey 2014/15
Elaine Sahlins | February 3, 2015
by Elaine Sahlins HVS has tracked hotel construction costs throughout the United States since 1976. Each year, HVS researches development costs from our database of actual hotel construction budgets, industry reports, and uniform franchise offering circulars. These sources provide the basis for our range of component costs per room. This 2014/15 survey reports updated per-room hotel development costs through the end of 2014, and considers data for six lodging types: Economy/Budget Hotels, Midscale Hotels without Food and Beverage (w/o F&B), Extended-Stay Hotels, Midscale Hotels with Food and Beverage (w F&B), Full-Service ...
How Silicon Valley Thinking Can Shake Up Traditional Hotel Management Practices
Mark C. Lynn | January 22, 2015
Asset managers should encourage management to take risks to innovate. by Mark C. Lynn Constant questioning and challenging of hotel amenities, services, programs and management practices is critical to discover new ways of elevating the guest experience. Creativity and innovation should be driven by the premise that employees be permitted - and in fact encouraged - to challenge conventional thinking and the traditional methods of doing things. Building experimentation into a hotel's business culture will boost customer satisfaction and loyalty, and by extension, increase revenues. The Asset Manager's Role in Encouraging Risk Taking The...
ADA Defense Lawyer: New ADA Standards for Website Accessibility
Jim Butler | January 7, 2015
By Jim Butler and the Global Hospitality Group® 07 January 2015 Click here for the latest articles on ADA Compliance & Defense. ADA Issues on Websites: Department of Justice Poised to Adopt Accessible Website Standards Since at least 2000, the U.S. Department of Justice (DOJ) has been advocating standardized website development and content to promote access to blind and low vision internet users. In 2013, the DOJ withdrew its proposed Advanced Notice of Proposed Rule Making (ANPRM) which would have established standardized internet protocols by adopting the Web Content Accessibility Guidelines (WCAG) 2.0. In 2006, we reported ...
Time Right to Develop, Acquire or Invest in European Hotels as Hotel Groups Set to Expand, Says HVS
HVS | January 6, 2015
January 06 2015, London: Consolidation amongst major hotel companies will be one of the key themes of 2015 as large groups seek to grow their business or risk being taken over themselves. Looking to the year ahead, chairman of global consultancy HVS London Russell Kett said that now is a good time to develop, acquire or invest in hotels as economic prospects are encouraging with demand for hotel rooms increasing and many parts of Europe having capacity for further rooms. As conditions in Europe's hotel markets continue to improve, values are mostly on the rise and are expected to continue to do so for the next few years. "Organic growth...
Hotel AG Involved in 194 Hotel Transactions During Last 2 Years
Hotel AG | January 5, 2015
ATLANTA - January 5, 2015 - Hotel Assets Group, LLC (Hotel AG), announced today the firm has sold or advised on 194 separate hotel transactions during the 2013 and 2014 years. The firm closed 194 transactions including 169 select service hotels, 25 full-service assets and 12 portfolios. The brands represented were 17 Courtyard by Marriott, 16 Fairfield Inn, 12 Residence Inn, 11 Springhill Suites, 6 Townplace Suites, 8 Marriott/Hilton/Starwood full-service hotels, 20 Hilton Garden Inn, 7 Homewood Suites, 13 Hampton Inn, 8 Hampton Inn & Suites, 5 Holiday Inn, 3 Holiday Inn Express, 1 Staybridge Suite, 8 Wyndham branded hotels, 17 Choi...
Will 2015 Hotel Deals Become Even Frothier? You Bet. Why? Just Ask Rubles, Stocks and Bonds
Marc Stephen Shuster | December 23, 2014
By Marc Stephen Shuster and Jeffrey R. Margolis During 2014, the global hotel industry continued to see increases in rates and revenues and, as a result, 2014 was a busy and challenging year for hotel transactions. Although some markets have not yet fully recovered from 2008's global recession, the hotel and hospitality market continues to be one of the strongest in the U.S., with the hotel sector leading all property types in price gains. Transaction activity during 2014 was strong, with buyers competing heavily for the limited amount of assets for sale and sellers seeking to monetize their investment gains. High investor interest cont...
Hotel Lawyer on HMAs: “The Shrinking Terms of Hotel Management Agreements”
Mark S. Adams | December 23, 2014
By Jim Butler and the Global Hospitality Group® 23 December 2014 Click here for the latest articles on Hotel Management Agreements. A version of this article first appeared in Hotel Business Review in December 2014, and this article is reprinted with permission from www.hotelexecutive.com. The shrinking terms of hotel management agreements Better bargaining position for hotel owners on HMAs by Jim Butler and Mark S. Adams | Hotel Lawyers The relationship between hotel owners and managers continues to evolve. Hotel management agreements historically were long-term. Fifty to sixty year terms were common. However, in the last few years, h...
Hotel Financing: JMBM’s Preferred EB-5 Construction Financing Program for Top Developers & Projects
Jonathan Bloch | December 9, 2014
By Jim Butler and the Global Hospitality Group® 09 December 2014 Click here for the latest articles on EB-5 Financing. JMBM is sourcing low-cost mezzanine capital for new construction through EB-5 financing for its top developer-clients. To qualify for this program, the borrower must be an experienced developer with a superb track record, a superior reputation and a great project. If you don't meet those threshold requirements, then don't read any further, because this program does not apply to you. If you are still reading, the question is: "Can you benefit from mezzanine financing with an all-in cost to you of approximately 6 ...
Condo Hotels: Don’t Forget the Secret Sauce!
JMBM | December 2, 2014
December 2, 2014 Click here for the latest articles on Condo Hotels Condo hotels: Don't forget the secret sauce! by Jim Butler, Bob Braun and Guy Maisnik Condo Hotel Lawyers Condo hotels are back in vogue as "securities" Developers particularly like the "new model" where condo hotel investments are offered as a "securities" using the new SEC Rule 506(c) for private placements with public solicitation. Unfortunately, in their enthusiasm for this new model- which is well deserved - many developers will create dysfunctional structures that will be difficult or impossible to correct once they are put in place. These issues can all be avoide...
Plans Move Forward for Old Quarry Commons Development, Including Hotel Portion
BuildCentral | December 1, 2014
Hotel-Online and BuildCentral Add/Update 224 Hotel Projects to the New Hotel Construction Projects Database Chicago, IL. December 1, 2014 - Hotel-Online and BuildCentral have added or updated 224 hotel projects in the last two weeks to Hotel Construction, a nationwide database of hotel construction projects, openings, and key decision makers (Owner/Developers, Architects and Contractors). These proposed hotels are still in the planning stages. Now is the perfect time to have your product drawn into plans, or offer construction services: 34th Street Oceanfront Hotel (Ocean City, MD) Residence Inn by Marriott (Sunny Isles Beach, FL) ...
Hotel AG Closes 11 Hotel Transactions in November
Hotel AG | November 26, 2014
ATLANTA - December 1, 2014 - Hotel Assets Group, LLC (Hotel AG), announced today the firm has closed 11 hotel real estate transactions in the month of November and additionally, has sold or advised on 188 hotel transactions since January of 2013. Of the transactions closed, 8 were Hilton, Marriott or Starwood branded assets and 4 were full-service hotels. Geographically, the hotels were located from New York to Florida along the Eastern Seaboard of the US. The buyers consisted mostly of REITs and investment firms and the clients represented were across several ownership types. Furthermore, the firm has closed 5 portfolios within the las...
Historic Union Square Hotel Mark Twain Emerges From $2 Million Renovation
Hotel Mark Twain | November 20, 2014
San Francisco, CA (November 21, 2014) - Hotel Mark Twain proudly announces a new chapter at the historic hotel following a $2 million renovation. The newly renovated 115 room property is centrally located in downtown San Francisco, just two blocks to Union Square and steps away from the best dining in the city. The renovation was planned with its namesake in mind, weaving a literary theme throughout the hotel. Featuring stylish accents and modern conveniences paired with hints of the hotel's rich history, the new rooms appeal to leisure and business travelers alike. Whimsical elements are incorporated throughout the hotel and in the roo...
Mission Gateway Boutique Hotel Plans Start to Move Forward with Scaled Down Version
BuildCentral | November 17, 2014
Hotel-Online and BuildCentral Add/Update 242 Hotel Projects to the New Hotel Construction Projects Database Chicago, IL. November 17, 2014 - Hotel-Online and BuildCentral have added or updated 242 hotel projects in the last two weeks to Hotel Construction, a nationwide database of hotel construction projects, openings, and key decision makers (Owner/Developers, Architects and Contractors). These proposed hotels are still in the planning stages. Now is the perfect time to have your product drawn into plans, or offer construction services: Dallas Midtown Hotels (Dallas, TX) Barlow Road Hotel (Hudson, OH) Bear Creek Commons Hotel (Wil...
Prediction 2015: Chinese Investment Wave will Create Many Opportunities in the US
JMBM | November 13, 2014
By Jim Butler and the Global Hospitality Group® 13 November 2014 Click here for the latest articles on Chinese Investment or here on EB-5 Financing. As the Chinese economy continues to become more important globally, we are seeing a shift in Asian investment in the United States, particularly in California. Chinese investors will become even more active and influential over the next 10 years, and will continue adapting to Western business practices while retaining a critical sensitivity to their Chinese roots and the demographics of the Chinese population in the United States. The ineluctable demographics China's demographics are ...
ADA Lawyer: FedEx Sued for Failures Regarding the Hearing and Speech Impaired
Martin H. Orlick | November 11, 2014
By Jim Butler and the Global Hospitality Group® 11 November 2014 Click here for the latest articles on ADA ADA Lawyer: FedEx sued for failure to provide effective auxiliary aids and services for hearing and speech impaired employees and job applicants by Marty Orlick | ADA Compliance & Defense Lawyer Effective communication with blind, low vision, deaf, hard-of-hearing, speech impaired and cognitively challenged employees, potential employees, customers and guests is one of the fundamental tenets of the Americans with Disabilities Act of 1990 ("ADA"). For nearly 25 years, the ADA has been the most sweeping civil rights legisl...
Using Condo Hotels for Financing New Hotel Development
JMBM | November 10, 2014
Traditional condo hotel structures as "non-securities" By Jim Butler and the Global Hospitality Group® 10 November 2014 Click here for the latest articles on Condo Hotels High end hotel development in 2015 Almost every developer of a high end or luxury hotel in 2015 will at least consider using the condo hotel approach as a financing technique for new development, conversion or adaptive reuse projects. Anyone evaluating a condo hotel structure needs to know, that with recent changes in the law, there are now two different approaches available: (1) Non-Security Approach — This is the traditional approach used for almost every c...
