CBRE Expects RevPAR Growth to Improve in H2 2024, Driven by Holiday and International Travel
CBRE Group, Inc. | May 16, 2024
Paramount Lodging Advisors Successfully Transacts Chicago Renaissance OHare Hotel
Paramount Lodging Advisors | November 7, 2023
Real Estate
Hospitality Financial Leadership: The Matching Principle
David Lund | January 7, 2019
By David Lund I tell my Introductory Hospitality Financial Leadership Workshop participants that the concept behind the matching principle is "the most important concept today." Why? When it comes to producing financial information, it's the cornerstone of understanding why we do almost everything the way we do it in the business world. The profit and loss statement cannot exist and be in any way accurate without using the matching principle every step of the way. Grasp this and you are well on your way to understanding the other principles and most importantly putting these principles to work in your day-to-day hotel leadership role. S...
What Are the Top Hotel Designs for 2019?
Cicero's Development Corporation | January 4, 2019
PLAINFIELD, IL, JANUARY 4, 2019 -- New Year is the perfect time to check-in on hotel design trends. While some of these trends may only create ripples, others will set off tidal waves. Taken as a whole, these trends underscore that hotel design is no longer the simple task of creating a nice place to stay; it is a science of fashioning a truly distinctive guest experience that flows seamlessly from check-in to sleeping, to working, to dining, to entertainment. According to Cicero's Development, one of the country's leading renovation contractors for the hospitatlity industry, here are six hotel trends emerging on the scene that ...
Aspen Skiing Company Opens the 99-Room Limelight Hotel Snowmass
Limelight Hotels | January 4, 2019
Snowmass, Colo.—Jan. 4, 2019— The Limelight Hotel Snowmass has officially opened. The new 99-room property is consistent with the Limelight brand featuring amenities such as complimentary breakfast, après ski specials in the Limelight Lounge, live music, adventure activities, a ski concierge as well as pet-friendly rooms. The hotel represents the third property in the Limelight brand, joining Limelight Hotel Aspen and Limelight Hotel Ketchum. Its opening is part of the Aspen Skiing Company's strategy to further expand into the hotel business. In addition to the three Limelight properties, the company also owns and ope...
TownePlace Suites by Marriott Opens in Southaven, Mississippi With General Manager Yashica Harrell at the Helm
TownePlace Suites by Marriott | January 4, 2019
Southaven, MS – January 4, 2019 – Get ready to be real and be you on long stays. Marriott International's TownePlace Suites by Marriott Memphis Southaven is now open for business. On average, a TownePlace Suites opens every six days. Built for travelers looking for a simple and friendly place where they can settle-in, keep their routine, and easily connect to the Southaven area. The new hotel located at 7191 Sleepy Hollow Drive, will operate as a Marriott franchise, owned by an affiliate of Peachtree Hotel Group and managed by Peachtree Hospitality Management of Atlanta, Georgia. "We are excited to introduce the TownePlace Suites brand...
The Greenwich Hospitality Group (GHG) Completes $23.2 million Acquisition of West Bay Beach Holiday Inn Resort in Traverse City, Michigan
The Greenwich Hospitality Group | January 4, 2019
Greenwich, CT - JAN. 4, 2019 - The Greenwich Hospitality Group (GHG) today announced its acquisition of West Bay Beach Holiday Inn Resort in Traverse City, Michigan for $23.2 million. The 179-room full service waterfront resort, originally built in 1968, is located on the West Bay in downtown Traverse City. The purchasing entity, DELAMAR Traverse City, LLC, consists of mostly Michiganders with multi-generational ties to Grand Traverse and Leelanau Counties. Greenwich Hospitality Group owns and manages hotels in Connecticut, Texas, and Vermont. The hotel will be elevated to a four-star property and rebranded DELAMAR Traverse City after u...
Pride Management Set to Open 81-Room Fairfield Inn & Suites by Marriott in Fort Worth, Texas
Fairfield Inn & Suites | January 3, 2019
Fort Worth, TX – January 4, 2019 – The 81-room Fairfield Inn & Suites by Marriott in Fort Worth, Texas is scheduled to open on Tuesday, January 8, 2019 with a new décor that provides guests with a feeling of warmth and calm while traveling. Located at 4880 Citylake Boulevard East, the Fairfield Inn & Suites Fort Worth Southwest at Cityview will operate as a Marriott franchise, owned by Jignesh Patel and Denish Patel, and managed by Pride Management Inc. of Beaumont, Texas. Whether traveling for business or leisure, the Fairfield Inn & Suites Fort Worth Southwest at Cityview offers guests convenient access ...
Schwartz Family Company Acquires Queensland’s Hilton Surfers Paradise for $70 Million From Ja Feng
| January 2, 2019
2 January 2018: Australia's largest private hotel investor, Dr Jerry Schwartz, has made his first foray into Queensland hotel property with the $70 million purchase of the five-star Hilton Surfers Paradise from the Chinese group, Ja Feng. The deal is expected to settle in May 2019. The Hilton Surfers Paradise will be the Schwartz Family Company's 14th hotel in Australia. It will join 11 hotels in NSW – including Sydney's first international five-star hotel since 2000, the Sofitel Sydney Darling Harbour – and one each in the ACT and Victoria. The Hilton Surfers Paradise is one of the Gold Coast's newest luxury hotels, with Dr...
Hospitality Financial Leadership: The Top 10 Interview Questions About The Hotel’s Finances for a General Manager and the Best Answers
David Lund | January 2, 2019
By David Lund Interviews are tricky, for both the candidate and the interviewer. A GM's job interview is a challenge for the incumbent because they need to be ready for just about anything. This is especially true as it relates to the financial picture of the business as seen through the interviewer's eyes. The opposite is also true as many times the person doing the grilling does not have a broad base of experience relating to the daily inner workings and nuances of the hotel world. Here is a list of common questions and good answers as well as a few bonus questions you can ask the person doing your audition. 1. What makes you qualifie...
Ahead of November 2018 Opening, California’s Moxy San Diego Appoints Executive Team
Moxy San Diego | November 9, 2018
SAN DIEGO, Calif. (November 9, 2018) – Opening this November 2018 as the first California hotel under Marriott International's experiential, millennial-minded Moxy Hotels brand, the 126-room Moxy San Diego announces its executive team to lead the bold, yet playful, boutique hotel. Designed for the next generation of travelers, Moxy San Diego will embrace the destination's coastal roots while showcasing the eclectic and vibrancy of downtown San Diego's Gaslamp Quarter. Leading the team as Captain – the brand's twist on the traditional General Manager position – will be Lindsay Jones who will oversee all facets of the day-to-day hotel ...
The St. Joe Company Plans New Branded Hotel at Northwest Florida Beaches International Airport (ECP)
St. Joe | November 9, 2018
WATERSOUND, Fla.—November 9, 2018--The St. Joe Company (NYSE: JOE) ("St. Joe") today announces plans to construct, own and operate a new branded hotel, immediately adjacent and convenient to the Northwest Florida Beaches International Airport (ECP). Following St. Joe's business strategy of expanding its portfolio of income producing properties, as well as growing its resorts and leisure segment, the Company plans the development of a 110-125 room hotel with a full service restaurant and bar, as well as meeting space. This new hotel will be located adjacent to the airport which is located within St. Joe's 110,500 acres known as the...
HVS Interviews with Leaders – Mr. Ludwig Bouldoukian, Regional VP of Development, Middle East and North Africa, Hyatt Hotels
HVS | November 8, 2018
1. What is Hyatt Hotels Corporation's brand portfolio, market presence, and pipeline across the Middle East? Hyatt currently operates 17 full service and three select service properties across the Middle East and North Africa. The portfolio consists of 14 premier brands worldwide; in this region specifically, the luxury segment consists of Park Hyatt, while Grand Hyatt & Hyatt Regency fall in the premium category. Andaz, the luxury lifestyle brand is set to make its brand entry in November in the UAE's capital city Abu Dhabi. Hyatt's select-service brands include Hyatt Place and Hyatt House. Hyatt House is set to launch in the KSA i...
U.S. News & World Report – Best Law Firms® Recognizes JMBM as 2019 “Best Law Firm”
JMBM | November 8, 2018
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 08 November 2018 A hotel lawyer brings together numerous legal disciplines, depending on the hospitality project. That's why the Global Hospitality Group® is part of a full-service law firm. My partners at Jeffer Mangels Butler & Mitchell LLP (JMBM) provide first-rate services to our hospitality clients and I am pleased that their efforts were recognized today in U.S. News & World Report's list of Best Law Firms. – Jim U.S. News & World – Best Law Firms® Recognizes JMBM as 2019 "Best Law Firm" Jeffer Mangel...
McNeill Hotel Investors Acquires Home2 Suites by Hilton Gainesville (Florida)
McNeill Hotel Company | November 7, 2018
Germantown, Tenn. – November 7, 2018 – McNeill Hotel Investors ("McNeill") announced today that it has acquired the 95-room, select service, all-suite Home2 Suites by Hilton Gainesville (Florida), adding to the company's growing portfolio and its geographic footprint in Florida. The announcement was made by Phillip McNeill, Jr., the company's Chief Executive Officer. Home2 Suites by Hilton Gainesville was completed in 2016 and features complimentary breakfast, 1,224 square feet of meeting space, fitness room, outdoor pool, two lobby workstation computers and a 24-hour pantry market. The hotel is at 2115 SW 13th Street near t...
Lafrance Hospitality Selected to Manage New Tru by Hilton in Manchester, NH Currently Under Construction
Lafrance Hospitality | November 6, 2018
November 7, 2018 – Peter Flotz and Kent Gregory of Bedford Lot Venture, LLC have appointed Lafrance Hospitality to manage the Tru by Hilton under construction in Downtown Manchester, NH. Peter Flotz and Kent Gregory have been working diligently on getting the Millyard area site approved since 2016 for a new Tru by Hilton and have received the go ahead for the project. Both Lafrance Hospitality and Bedford Lot Venture, LLC are looking forward to this new opportunity and partnership. "We are pleased to be appointed the manager for the Tru by Hilton under construction in Manchester. This brand and location will have a lot of synergy ...
sbe, in Partnership With PPG Development Group, to Rebrand Former Diplomat Golf & Tennis Club to SLS Resort Residence & Marina Hallandale Be
sbe | November 5, 2018
NEW YORK, Nov. 5, 2018 -- sbe, a leading international hospitality group that develops, manages and operates award-winning global hospitality brands, today announced a partnership with PPG Development and its principal Ari Pearl to continue expansion of the SLS brand in South Florida with SLS Resort Residence & Marina Hallandale Beach. This announcement comes on the heels of AccorHotels' recent acquisition of a 50% stake in sbe. SLS Resort Residence & Marina Hallandale Beach will mark the 12th sbe resort and 4th SLS branded property in South Florida. Set to open in 2022, the project will offer 290 hotel rooms including 50 co...
Downtown St. Paul’s Embassy Suites hotel and Cork’s pub to close, rebrand as a Drury Plaza Hotel
November 3, 2018
Nov. 03--In downtown St. Paul, the Embassy Suites Hotel will close in early January, laying off more than 100 workers prior to a renovation and rebranding as a Drury Plaza Hotel. Cork's Irish Pub, which is located in the hotel, will close as well. The Missouri-based Drury hotel chain operates 150 hotel properties in 25 states under the brand names Drury Inn, Drury Plaza and Pear Tree Inn, according to the company's website. News of the Embassy Suites closure, first reported by the Minneapolis-St. Paul Business Journal, was confirmed Friday by the hotel's general manager. He referred all further questions to the Zimmerman age...
Paramount Lodging Advisors Successfully Completes Another Texas Transaction with the Sale of the Courtyard by Marriott in Beaumont, TX
Paramount Lodging Advisors | October 31, 2018
Beaumont, TX - Paramount Lodging Advisors (PLA) has successfully executed the transaction of the Courtyard by Marriott in Beaumont, TX. Managing Director Kami Burnette and Managing Director Adam Montufar represented the seller in the sale. The 78-room upscale hotel is ideally located on Interstate 10 in Beaumont. This transaction represented the buyer's objective to capitalize on increasing revenues generated from the oil-driven market. Upon completion of the property improvement plan (PIP), the buyer should be well-positioned to penetrate the market. "The shale boom has generated a surge in Texas oil exports and its impact on employmen...
IHG and IHG Owners Association Announce Renovation Donation Initiative
IHG | October 30, 2018
Industry-leading effort will help hotels manage removal of materials during renovations and make a positive difference in local communities IHG® (InterContinental Hotels Group) and the IHG Owners Association have launched the Renovation Donation Initiative, an industry-leading reuse program that is part of a shared commitment to operating responsibly. IHG-branded hotels undergoing renovation or property improvements in the U.S. and Canada will be able to donate furniture, fixtures and equipment to non-profit organizations, including United Way Worldwide and Good360. The Renovation Donation Initiative will reduce the amount of materi...
Hotel Equities Promotes Joe Reardon to Chief Development Officer
Hotel Equities | October 30, 2018
ATLANTA, GA – October 30, 2018 – Today, Atlanta-based Hotel Equities (HE) announced the promotion of Joe Reardon to Chief Development Officer. In his new role, Reardon will oversee all aspects of development for the hotel ownership, management and development firm. Reardon brings 25 years of industry experience and an unwavering commitment to the company's core values to his new position. In his previous role, Reardon served as SVP of Business Development & Marketing where he orchestrated the firm's impressive expansion. "Joe has been a tremendous asset to the organization," said Brad Rahinsky, President & CEO o...
Fairmas boosts global presence through hotel data integration with OTA Insight
Fairmas GmbH | October 30, 2018
Leading hotel technology specialists partner to increase business intelligence benefits BERLIN, LONDON - Fairmas GmbH, the long-established hotel specialist for software solutions in the areas of financial planning, controlling, management reporting and benchmarking headquartered in Berlin, and OTA Insight, creator of the hospitality industry's leading cloud-based business intelligence (BI) solutions specialising in pricing and distribution strategy, announce their partnership to integrate their systems to increase the benefits for their mutual customers. The collaboration on data integration allows joint customers to view their own ho...
Hospitality Financial Leadership: Trading Places
David Lund | October 29, 2018
Circa 2009. Late September. I'm the regional controller for five hotels. Sitting at my desk minding my own business, doing my own work when the phone rings. It's an old friend, one-time assistant, and now the regional controller based at a hotel in another city. He explained the desire to move back to where I was but was not having much luck finding a job. His homesick wife really wanted their children educated at home. We chatted for a few moments and caught up on different topics. Then he said, "Hey, David, how about we trade jobs?" "Can we do that?" I asked. Then I thought, "Wow, it's 28 years after the high school summer I planned t...
Economically Speaking: Must All Good Things Come to an End?
DRB Development Solutions | October 26, 2018
By Donald R. Boyken, FRICS, FAACE, CCP Each year, The Hotel Lodging Conference invites leading economists to offer their predictions for the Hotel industry. This year, there was more belief in their predictions than in prior years. I say belief because judging by their presentations it was clear they included their political preference as part of their forecasting. The conclusion/question: How long could the good times roll? The pessimistic and optimistic outlooks agree – Something will happen to the economy in the next two years. However, the degree of impact was tainted by their political outlook. Readers of this article underst...
Queensgate Investments Completes 2nd U.S. Transaction, Adding Courtyard by Marriott Washington D.C. Washington D.C. to Generator Portfolio
Queensgate Investments | October 22, 2018
LONDON, October 22, 2018 -- Queensgate Investments ("QI") has made its second acquisition in the United States, acquiring the Courtyard by Marriott Washington D.C. for USD 54.1M as a bolt-on to its Generator platform. The well invested 148 key freehold asset, acquired from affiliates of Quadrangle Development Corporation and Capstone Development, is located in busy Dupont Circle and benefits from superior amenities such an outdoor pool and roof terrace. The asset will continue to be run under a Marriott franchise with incumbent manager Crestline during 2018 and 2019, prior to conversion to the Generator brand. Generator is one...
Las Vegas’ Palace Station Debuts Its $192 Million Modernization
Palace Station | October 19, 2018
LAS VEGAS, NV (October 19, 2018) – Las Vegas' historic Palace Station , Station Casinos' iconic and first casino in its family of 20 entertainment destinations that first opened its doors July 1, 1976, has debuted its $192 million-dollar modernization. Located minutes away from the Las Vegas Strip, guests checking into the 42-year legacy destination will now be able to enjoy many of its new amenities and offerings. The two-year revamp includes a renovation of its entire casino floor as well as its hotel guest rooms and suites, and the addition of a new resort-style pool area, a luxury nine-screen movieplex and new restaurants such...
