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
Avison Young Hospitality Group Spotlights Collin Foran and Niven Patel
Avison Young | March 16, 2017
Avison Young Hospitality Group is pleased to highlight Collin Foran and Niven Patel, who are located in the Avison Young Orlando and Tampa offices, respectively. Foran, a senior hospitality broker, has close to 30 years of hospitality experience, including several key senior positions with industry leaders such as Marriott, Interstate Hotels and Mass Mutual. Before joining Avison Young, Foran served as vice president of asset management and acquisitions at Cornerstone Real Estate Advisors, a wholly-owned subsidiary of Mass Mutual. While there, he successfully sourced, underwrote and closed on approximately $800 million in institutional ...
Avison Young Hospitality Group Spotlights Thierry Roch and John James
Avison Young | March 15, 2017
Avison Young Hospitality Group is pleased to highlight Thierry Roch and John James, who are located in the Avison Young Washington D.C. office. Roch, a senior hospitality broker at Avison Young, has more than 25 years of experience in organizational management, business development and commercial real estate brokerages in the travel and tourism industry, including for-profit and non-profit organizations. In his current role, Roch specializes in brokering, leasing and developing historic, independent and boutique hotel properties. His relationships include national and international owners, operators and developers as well as senior exec...
Hotel Capital and Orix Real Estate Complete $7 Million Renovation of the Embassy Suites by Hilton San Antonio NW I-10
Embassy Suites by Hilton | March 14, 2017
SAN ANTONIO, TX. – March 14, 2017 – Embassy Suites by Hilton, a global brand of upscale, all-suite hotels from Hilton (NYSE: HLT), and Hotel Capital recently celebrated the completion of an 11-month, $7 million renovation of the Embassy Suites by Hilton San Antonio NW I-10. Global Head of Embassy Suites, Alan Roberts, joined executives from Hotel Capital and Orix Real Estate Americas at the Embassy Suites by Hilton San Antonio NW I-10 for a ribbon-cutting ceremony, marking the official completion of the renovation. Afterwards, attendees participated in guided tours of the redesigned hotel, which now features contemporary d&e...
Owned by LH Webster LLC and Managed by Lodgic Hospitality, New Tru by Hilton Hotel Coming to Houston Clear Lake
Lodgic Hospitality | March 7, 2017
Webster, TX - March 7, 2017: The Hilton hotel brand is expanding its presence in the Houston market. Construction of a 98-room, four-story, Tru by Hilton hotel is scheduled to begin this summer on Rodger Court in Webster, TX, just south of the Baybrook Mall, in the growing Clear Lake Area. The hotel is owned by LH Webster LLC and managed by Lodgic Hospitality. It is scheduled to open in summer 2018, and will join other Hilton branded hotels in Webster such as the Hampton Inn & Suites, Home2 Suites by Hilton, and Hilton Garden Inn. Those Hilton-branded properties are also operated by Lodgic Hospitality, a Houston area based company. ...
Hotel Lawyer: Where is The Hospitality Industry Headed in 2017?
Jim Butler | March 7, 2017
By Jim Butler and the Global Hospitality Group® 22 February 2017 The Lodging Industry Investment Council (LIIC) met in Los Angeles during the American Lodging Investment Summit 2017 and our friends from Hotel News Now (HNN) were on the scene. Some of us were asked by HNN for our take on where the hospitality industry is headed in 2017 — including my friend and fellow LIIC board member, Mike Cahill, who will present the "LIIC Top Ten" hospitality issues of the year at the national hotel finance and investment conference, Meet the Money®, as he does every year. To read my comments about why 2017 will be a year of change, as ...
AccorHotels Enters Strategic JV Partnership with Rixos Hotels with Focus on Global Development in the Luxury Resort Segment
AccorHotels | March 6, 2017
AccorHotels and Rixos Hotels announce today a strategic partnership illustrating AccorHotels' strategy to expand its presence in the Upper Upscale/Luxury market, with a primary focus on developing global activities in the resort segment. Under a long-term joint venture, both parties intend to collaborate, develop and manage Rixos branded resorts & hotels worldwide. Upon closing, AccorHotels will own a 50% interest in the joint venture management company. Through this joint venture, AccorHotels will integrate in its network 15 iconic hotels that are ideally located in premium resort markets in Turkey, UAE, Egypt, Russia and Europe an...
Best Western’s Pipeline Nearing 500 Properties Worldwide
March 6, 2017
Berlin, Germany – March 6, 2017 – Best Western® Hotels & Resorts today revealed a development pipeline of close to 500 properties, placing a strong focus on key international markets.The company currently has 239 international locations underway and another 224 in North America – 60% of which are new-builds. "It is evident that Best Western continues to provide exceptional value to our owners and developers around the world, as we see interest in our diverse portfolio of brands continuing to grow," said Suzi Yoder, senior vice president of international operations for Best Western® Hotels & Resorts. "It...
Hotel Values Rise in Eastern Europe While Those in the West Face Tougher Times, Says Hotel Valuation Index
HVS | March 6, 2017
6 March 2017, London: Hotels in Eastern Europe are benefitting from tough times in Western Europe with room values in the region seeing an impressive 11% average growth, according to the 2017 European Hotel Valuation Index (HVI) published this week by global hotel consultancy HVS. In a year that saw little change in values across the rest of Europe hotels in Bratislava topped the list of value rises, up 18.9% year-on-year, while hotel room values in Sofia rose 16%. Bucharest saw hotel room values up 14.6%, while those in both Budapest and Prague were up 9.9%. While many Eastern European markets saw their hotel room values rise from a re...
La Quinta Launches Enhanced Returns Loyalty Program with Industry-First Benefits, Innovations and Rewards
La Quinta | March 2, 2017
Company Unveils Witty "Winning @ Business" Advertising Campaign to Support the Launch IRVING, Texas, March 2, 2017 – La Quinta Holdings Inc. (NYSE: LQ) announced its new, integrated marketing campaign to support the launch of exciting and innovative enhancements to its award-winning loyalty program, La Quinta Returns, including the debut of its "Winning @ Business" television and digital campaign. The launch of the enhanced La Quinta Returns loyalty program includes travel industry firsts, generous and exclusive benefits, and innovative features. The new program gives members more freedom when redeeming points, more convenience wh...
Lingerfelt CommonWealth Acquires Hilton Dual-Branded Hotel in Downtown Jacksonville, Florida
Lingerfelt Commonwealth Partners | March 1, 2017
RICHMOND, Va., March 1, 2017 -- Lingerfelt CommonWealth Realty Partners, LLC, a Richmond, Virginia-based commercial real estate investment firm, today announced the acquisition of a stabilized dual-branded Hilton Garden Inn | Homewood Suites hotel in downtown Jacksonville, Florida. The premium branded select-service and extended-stay hotel was constructed in 2009 and is comprised of a 123 guestroom Hilton Garden Inn and a 98 suite Homewood Suites. Commonwealth Lodging Management, the company's hotel management affiliate, will operate the hotel. More on the company can be found on the web at www.LingerfeltCommonWealth.com. Any discus...
Germany Becomes Star Performer for European Hotel Transactions as Investors Play It Cool in Year of Change, Says HVS Report
HVS | March 1, 2017
1 March 2017, London: Hotel transaction volume across Europe reached €17.8 billion in 2016, down 25% on the previous year's record volume, according to the annual European Hotel Transactions report, published this week by HVS and its brokerage and investment services division HVS Hodges Ward Elliott. While portfolio activity halved to €7.2 billion-worth of sales, single asset transactions remained strong with volumes of €10.6 billion, up almost 17% year-on-year. "Last year's fall in portfolio hotel transactions came as no surprise, particularly as it followed an extremely active 2015 during which there were €14.6 bil...
China Lodging Group Enters Into Definitive Agreement to Acquire Crystal Orange Hotels
China Lodging Group, Limited | February 27, 2017
SHANGHAI, China, Feb. 27, 2017 -- China Lodging Group, Limited (HTHT) ("China Lodging" or the "Company"), a leading hotel chain operator in China, today announced that its wholly-owned subsidiary China Lodging Holdings (HK) Limited has entered into a definitive share purchase agreement with the shareholders of Crystal Orange Hotel Holdings Limited ("Crystal Orange") to acquire all of the equity interests of Crystal Orange for an initial aggregate consideration in cash of approximately RMB 3.65 billion, with customary post-closing adjustments (the "Transaction"). The closing of the Transaction is subject to the approval from the Antitrus...
FelCor Lodging Trust Clarifies Background on Ashford Hospitality Trust Proposal
FelCor | February 24, 2017
Will Provide More Detailed Response in Due Course FelCor Shareholders Need Take No Action at this Time IRVING, Texas, Feb. 24, 2017 -- FelCor Lodging Trust Incorporated (NYSE: FCH) today offered clarification on the unsolicited, non-binding and conditional proposal to combine its business with Ashford Hospitality Trust (NYSE: AHT). AHT's February 21, 2017 proposal follows several months of discussions between FelCor and AHT, during which FelCor repeatedly expressed numerous concerns regarding the value and structure of AHT's various proposals. Notable concerns include: Dilution to AHT Shareholders. The proposed offer would dil...
The Commander Hotel & Suites in Ocean City, MD Completes $5 Million Property Renovation
The Commander Hotel & Suites | February 20, 2017
Ocean City, MD - February, 2017 / The Commander Hotel & Suites, which is ranked #8 in TripAdvisor's customer reviews of 102 hotels in Ocean City, MD, has completed a $5 million renovation of its rooms and lobby/public areas. "I was thrilled to learn of the recent renovations at The Commander Hotel, and when I finally saw them I was captivated," says Susan L. Jones, Director of the Ocean City Hotel-Motel Restaurant Association. "The décor is stunning and soothing to the senses. Guests will absolutely love the updates, and are sure to find them equally pleasing." The Commander Hotel & Suites, which is owned by Will Lynch an...
Disney World to Add 15-Story Tower Expanding Coronado Springs Resort by 500-Rooms; Caribbean Beach Resort Enhancing Dining & Retail Areas
| February 20, 2017
LAKE BUENA VISTA, Fla., Feb., 2017 / -- Walt Disney World Resort continues to invest in the guest experience of its resort hotels and will soon be offering enhanced dining options, added event areas and more guest rooms at Disney's Coronado Springs Resort. Work has begun on a new 15-story tower at Disney's Coronado Springs Resort that will bring an additional 500 rooms with suites and concierge level services. The new tower, overlooking Lago Dorado, the resort's centerpiece lake, will offer a rooftop dining experience with panoramic views of popular nighttime fireworks from nearby Disney theme parks. "For many of our gu...
Moderate Growth Continues in the Hotel Construction Pipeline with Projects Up by 12% YOY
Lodging Econometrics | February 16, 2017
February 16, 2017 – PORTSMOUTH, NH – According to the year-end United States Construction Pipeline Trend Report from Lodging Econometrics (LE), the Total Construction Pipeline ended 2016 with 4,960 Projects/598,688 Rooms, up 12% by projects and 10% by rooms Year-Over-Year (YOY). Q4 2016 is the 19th consecutive quarter of pipeline growth, since the cyclical bottom of 2,720 Projects/331,129 Rooms reported in Q1 2012. At year-end, there were 1,520 Projects/196,409 Rooms Under Construction, up by 208 projects YOY or 16%. Projects Scheduled to Start in the Next 12 Months, at 2,392 Projects/268,843 Rooms, were up 466 projects, 24%...
Avison Young Hospitality Group Announces Recruiting Initiative
Avison Young | February 13, 2017
Firm looking to add talent in the United States and Canada February 13, 2017 ATLANTA – Avison Young, the world's fastest-growing commercial real estate services firm, announced today that its newly formed hospitality group is planning rapid expansion in the United States and Canada. The Hospitality Group, currently comprised of 21 US brokers, has 190 hotels on the market, totaling $3 billion. Since Avison Young announced the purchase of Atlanta-based Hotel Assets Group (Hotel AG) last month, the group has added new brokers in Washington D.C. and expects to add several experienced brokers throughout the United States in the immedia...
Avison Young Hospitality Group Spotlights Rick and Mike George
Avison Young | February 8, 2017
Avison Young Hospitality Group is pleased to highlight two hospitality brokers, Rick George and Mike George, who are located in the Avison Young Chicago office. Rick George, a 25-year veteran of the hospitality business, has been involved in all facets of the transaction and development process including asset valuation, acquisition, disposition, land development, financing and branding. In 2014, Rick joined Atlanta-based Hotel Assets Group, LLC (Hotel AG), which was recently acquired by Atlanta-based Avison Young Hospitality Group. In his current position as senior hospitality broker, Rick is focused on single asset and portfolio trans...
Avison Young Hospitality Group Announces Hilton Garden Inn Sale
Avison Young | February 8, 2017
Michael Bernath Andrew Broad ATLANTA – February 8, 2017 – Avison Young's newly formed hospitality group announced today that it advised on the sale of a Hilton Garden Inn in the Midwest region of the United States. The seller was an institutional hospitality platform based in the Southeast and the buyer was a West Coast-based family office. Michael Bernath and Andrew Broad, senior hospitality brokers, represented Avison Young in the transaction. "The sale of Hilton Garden Inn represents a general flight to quality that we are seeing in today's transaction market," said Bernath. "The seller was able to realize a strong retu...
PlumpJack Group Expands Portfolio with Acquisition of the Ingleside Inn and Melvyn’s Restaurant & Lounge in Palm Springs, Calif.
PlumpJack Group | February 3, 2017
San Francisco-based hospitality company, PlumpJack Group, along with Meriwether Companies, a real estate development and investment firm, have completed the acquisition of Ingleside Inn and Melvyn's Restaurant & Lounge in Palm Springs, Calif. The 30-room Palm Springs Historic Landmark and iconic restaurant are PlumpJack Group's first properties in Southern California, joining a growing collection of award-winning boutique hotels, wineries, restaurants, bars and retail. PlumpJack Group assumed management in January 2017. Balancing authenticity with luxury, modern amenities and guest comfort, PlumpJack Group projects a comprehensive r...
1.jpg)
Nibodha Ventures into RPA implementation
Nibodha Technologies Inc | February 3, 2017
Hospitality Technology Provider Nibodha Ventures into RPA implementation The current trend in the industry is centered around RPA, a term synonymous with automation, with a current focus on the banking sector. Nibodha has ventured into RPA and it will be expanding its services by the technology partner. The purpose-built is to re-imagine the business process landscape. This is a potent accelerator that enables smarter decision, greater agility, and better customer experience in the banking domain. Robotic Process Automation (RPA) helps reduce the turnaround time for various workflows, resulting in higher operational efficiency. It facil...
Hotel Cybersecurity: What Can Happen When Hackers Strike?
Jim Butler | February 2, 2017
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Author of www.HotelLawBlog.com 2 February 2017 Theft of confidential data by hackers is a major threat to businesses worldwide and the hotel industry is no exception. Hoteliers remain vulnerable to hackers seeking confidential information such as guests' credit card data and employees' personal information. They are also vulnerable in other ways. In a recent hotel breach, the hackers did not go after confidential data, but rather sought a ransom payment after taking control of the hotel's technology. My partner Bob Braun, senior member of JMBM's Global Hospitality Group...
Marshall Hotels & Resorts Signs Five New-Build Hotels to Construction Pipeline and Adds Two Management Contracts
Marshall Hotels & Resorts, Inc. | January 30, 2017
SALISBURY, Md., January 30, 2017—Marshall Hotels & Resorts, a leading hotel management and services company that operates properties nationwide, today announced that the company has enjoyed a record 2016, signing six new build hotels and a stand-alone spa to its construction pipeline, as well as adding two new management contracts, in the second half of the year alone. The hotels are scheduled to come on-line following construction completion, bringing the company's portfolio to 60 hotel contracts year-to-date. "With eight properties in the pipeline and 14 new third-party hotel management agreements signed in the first half of...
