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
IACC-Americas Names USA Chefs as “Copper Skillet Champions”
Hotel Development Partners, LLC (HDP | November 17, 2016
Oak Brook, IL -- November 2016 – Eight chefs from IACC-member properties across the US gathered recently to compete for the coveted USA Copper Skillet at the Hilton Chicago | Oak Brook Hills Resort & Conference Center, where the winners edged one step closer to the International Copper Skillet Competition global finale next April. Shane Hawkins, Lead Cook at Stonewall Resort, took the "Junior Category US Copper Skillet Award" for his winning dish in the cook-off. Local judges named Hawkins the winner for his dish of red potato hash, lightly fried striped bass with white wine butter, and seared New York strip with portabella. ...
Hotel Development Partners Celebrates Opening of Hampton Inn & Suites by Hilton in North Atlanta
Hotel Development Partners | November 16, 2016
Atlanta –November 16, 2016 – Atlanta-based Hotel Development Partners (HDP) held a Grand Opening and Ribbon Cutting celebration in Atlanta's Perimeter Center for the Hampton Inn & Suites by Hilton Atlanta Perimeter Dunwoody. Atlanta-based Hotel Equities serves as an investor in the hotel and manages the 132-room property that is a uniquely urban version of the Hampton Inn & Suites brand. The hotel anchors a mixed-use project including 25,600 SF of retail and restaurant space at 4565 Ashford Dunwoody Road in Atlanta's prime office-retail market. Jason Caughron leads the hotel team as the General Manager with Trudy San...
India – The HVS 2016 Hotel Development Cost Survey
Rishabh Thapar | November 14, 2016
By Rishabh Thapar and Achin Khanna HVS is pleased to share the analysis and insights of the 2016 Hotel Development Cost Survey – India. The development cost is an important aspect of a hotel project that determines its viability. HVS, over the years, has helped investors estimate the overall cost of developing a hospitality project as part of the multiple feasibility studies we have performed for varied asset types across all positioning. This survey endeavours to enhance the knowledge and understanding of industry stakeholders on the subject based on actual development costs of recently opened hotels in India. The report provides...
How the Marriott-Starwood Merger Will Affect You…
Jim Butler | November 11, 2016
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Author of www.HotelLawBlog.com Global Hospitality Group® survey results: What does all the recent consolidation in the hotel industry mean to different stakeholders? Marriott closed its acquisition of Starwood on September 23, 2016, following Accor's closing of its acquisition of Fairmont/Raffles on July 12, 2016. Other consolidations may already be underway. In any event, most of us in the hotel industry expect some very important consequences to result from such transactions. The hotel lawyers at JMBM's Global Hospitality Group® thought it would be int...
La Quinta Continues Strong Domestic and International Franchise Growth in Third Quarter 2016
La Quinta Holdings Inc. | November 11, 2016
Opened 15 new franchised hotels, representing approximately 1,300 rooms including markets such as Durango, Colorado, Medellin, Colombia and the first DFW-area Del Sol prototype location in Plano, Texas Signed 21 new franchise agreements, growing development pipeline to 239 hotels, representing approximately 21,800 rooms Geographically diverse pipeline includes 38 new Smith Travel Research market tracts IRVING, Texas (November 11, 2016) – La Quinta Holdings Inc. ("La Quinta" or the "Company") (NYSE: LQ) is pleased to share that during the third quarter of 2016, La Quinta grew its geographic reach by opening 15 new franchised h...
Hotel Lawyer: The PROs and CONs of Multi-Branded Hotels
Bob Braun | November 10, 2016
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Author of www.HotelLawBlog.com Hotel Lawyer on multi-branded hotels. Hotels with more than one brand are increasingly common, but it wasn't always so. Although some compelling advantages are driving this trend in many situations, developers and owners should weigh the advantages against other considerations. My partner Bob Braun is a senior member of our Global Hospitality Group® and has experience with many hundreds of hotel management and franchise agreements. Bob is also co-author of the Hotel Management Agreement & Franchise Agreement Handbook (3rd edition),...
Bankruptcy Auction of Royal Lodge Hotel in Absecon, NJ
November 9, 2016
Comly Auctioneers & Appraisers has been appointed by the U.S. Bankruptcy Court to auction the assets of Royal Lodge located at 553 E. Absecon Blvd. in Absecon, NJ. The assets consist of real estate and business intangibles. Royal Lodge is a 25-room, 14,890 sf hotel situated on 1.8 acres in Atlantic County. The property is zoned for highway development and includes 25 parking spaces. Royal Lodge is located right off Route 30, minutes away from Atlantic City, New Jersey. Bids are due on Tuesday, November 29, 2016 by 5:00 PM ET. The auction will take place on Thursday, December 1, 2016, in Camden County, NJ. The auction company must pr...
Hotel AG Announces Recent Closings
Hotel AG | November 7, 2016
ATLANTA – November 7, 2016 – Hotel AG announced today that over the last several weeks the firm has closed the following hotel transactions - a new Home 2 Suites in Nashville, Tennessee; a Holiday Inn Express in the Washington, DC metro area; a select service hotel west of Huntsville, Alabama; a Carlson hotel in Georgia; and a full service hotel located in Pennsylvania. The brokers involved in these transactions were Chris Stark, Victor Kalyanji, Wendy Blissett and Brad Sinclair. Currently, Hotel AG has 42 hotels totaling $600 million in value in various stages of contract with many closings scheduled over the next 7 weeks. ...
B. F. Saul Company Hospitality Group to Convert Holiday Inn Express Reston Herndon – Dulles Airport to Fairfield Inn & Suites
Fairfield Inn & Suites by Marriott | November 3, 2016
Bethesda, MD – November 3, 2016 – B. F. Saul Company Hospitality Group, a leading owner and operator of full-service, select-service and extended-stay hotels, today announced the closure of the 108-room Holiday Inn Express Reston Herndon – Dulles Airport property as it undergoes renovations in preparation for its conversion to a Fairfield Inn & Suites. The renovations will include all guest rooms and bathrooms, as well as the hotel's public spaces. "We are excited to add the Fairfield Inn & Suites brand to our portfolio of hotels," said Mark Carrier, president, B.F. Saul Company Hospitality Group. "The renovati...
ADA Defense Lawyer: Philadelphia Court Hits Uber and Lyft for ADA Violations
Jim Butler | October 24, 2016
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Author of www.HotelLawBlog.com Uber and Lyft are back in the headlines again, but not for the usual ride share issues. This time it is for alleged violations of the ADA. Here is what my partner Marty Orlick, Chair of our ADA Compliance & Defense Group, has to say on this development. The City of Brother Love is Showing Love to Persons with Disabilities Under the ADA, but not to Lyft or Uber by Martin H. Orlick, Chair, JMBM's ADA Compliance & Defense Group From coast to coast, Uber and Lyft have come under increasing fire from disability rights organizations and ...
Hotel Capital Markets Update: David Loeb, RW Baird
Jim Butler | October 21, 2016
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Author of www.HotelLawBlog.com David Loeb, Senior Research Analyst at RW Baird, presented his research during the Meet the Money® 2017 planning meeting hosted recently during The Lodging Conference. His presentation covered factors currently impacting the hospitality industry, including the stock market, cap rate changes, hotel REITs, and new technologies. I found David's presentation very interesting and noted the following highlights: Hotel supply and demand growth are nearly in equilibrium, and forecasts still call for continuing positive grow Many investors a...
La Quinta Inn & Suites Hotel Opens in Durango
La Quinta | October 20, 2016
Opening Marks a New Level of Service and Guest Comfort in the Albuquerque Market Highlights Brand's Expansion in the State of Colorado Durango, CO, October 20, 2016 – To serve the growing number of visitors traveling to the Durango area, La Quinta Inns & Suites announces the opening of the new La Quinta Inn & Suites™ Durango located at 125 Mercury Village Dr. Whether traveling for business or leisure, this new three-story hotel offers guests a refreshing and engaging experience providing 98 beautifully appointed guest rooms, an onsite business center, meeting and fitness facilities, and indoor heated pool and spa. Co...
Paramount Lodging Advisors Arranges the Sale of the Former Residence Inn located NW Indianapolis, IN
Paramount Lodging Advisors | October 18, 2016
Paramount Lodging Advisors (PLA) is pleased to announce the successful sale of the property at 3553 Founders Road, formerly known as the "Residence Inn" located in Indianapolis. Scott Griemsmann, Senior Managing Director and Adam Montufar, Managing Director, exclusively represented the owners in the transaction. "We continue to experience significant demand for lodging investment opportunities in the greater Indianapolis metro. This is our fourth successful sale in the market in the last year with an existing listing currently available in Castleton," commented Montufar. The two-story, 88-room, hotel opened in 1984 and was converted to ...
ADA Compliance & Defense Lawyer: ADA Website Accessibility Lawsuits Escalate
Jim Butler | October 18, 2016
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Author of www.HotelLawBlog.com Click here for the latest articles on ADA Compliance & Defense. JMBM's ADA Defense & Compliance team takes the ADA seriously, and we recommend that our clients take a proactive approach in identifying and solving potential problems before they become lawsuits. For many years now, we have called attention to the importance of making website ADA-compliant, but hotels, resorts, restaurants, banks, retailers and other owners and operators of commercial real estate continue to be vulnerable to one of the more recent and serious waves of...
Hotel Fights Back: Judge Dismisses High Frequency Litigant’s ADA Pool Lift Case
Jim Butler | October 17, 2016
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Author of www.HotelLawBlog.com Click here for the latest articles on ADA Compliance & Defense. JMBM's ADA Defense & Compliance team takes the ADA seriously, and we recommend that our clients take a proactive approach in identifying and solving potential problems before they become lawsuits. But sometimes serial plaintiffs just go too far with claims that cannot be justified and which violate the purpose and spirit of the ADA. Today, my partner Marty Orlick talks about a recent case that offers property owners and operators some relief against this type of harass...
Should I Stay or Should I Go? The Pros & Cons of Keeping Your Hotel Open During a Renovation
Sam Cicero, Jr. | October 17, 2016
By Sam Cicero, Jr. In 2015, owners of hotels in the United States spent a record $6 billion on capital expenditures, including renovations. This compares to $2.7 billion spent in 2010 as the industry climbed out of the Great Recession. Needless to say, hotel renovations are on the upswing. If you are a hotel owner or operator, balancing the need for cash flow with renovation objectives can be difficult. Often it leads to one of the most crucial decisions made during renovation planning: Should we keep the hotel open or should we close. The answer lies in the scope of the project plus any role seasonality plays in the business, among oth...
JMBM’s Global Hospitality Group® Announces EB-5 Financing and Closing of Two Recent Deals for Great Wolf Resorts and Wurzak Hotel Group
Jim Butler | October 10, 2016
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Author of www.HotelLawBlog.com Los Angeles—The Global Hospitality Group® of Jeffer Mangels Butler & Mitchell LLP is pleased to announce the recent closing of two hotel deals for their clients, Great Wolf Resorts and Wurzak Hotel Group. Jim Butler, Chair of the Global Hospitality Group®, and David Sudeck, a senior member, led the transactions and associated EB-5 financing. Great Wolf Resorts recently closed the purchase of property in LaGrange, Atlanta, for a resort that will include a 93,000 square foot water park, several restaurants, and 456 suites. ...
Paramount Lodging Advisors Sells Quality Inn & Suites Houston – Westchase
Paramount Lodging Advisors | October 5, 2016
Paramount Lodging Advisors (PLA) is pleased to announce the sale of the Quality Inn & Suites Houston - Westchase. PLA exclusively represented the special servicer seller, with Managing Directors Adam Montufar, Brent Clemens, Bennett Webster and Associate Subu Thiagarajan leading the efforts. "We are extremely pleased with result of this auction and were pleasantly surprised by the more than 460 executed confidentiality agreements," stated Thiagarajan. "This transaction marks another successful trade for PLA on Ten-X and our 19th total sale on behalf of the seller. We were informed the confidentiality agreement count set a record for...
EB-5 Regional Center Program Extended Until December 9, 2016 by Continuing Resolution
Jim Butler | October 5, 2016
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Author of www.HotelLawBlog.com Déjà vu all over again? Last Thursday, President Obama signed the Continuing Resolution, or CR, passed by Congress for the principal purpose of avoiding the shutdown of the Federal government by continuing to fund government operations and most of its agencies at 2016 levels through December 9, 2016. It is hoped that at that time, Congress and the President will be able to agree upon the budget for the entire fiscal year ending September 30, 2017. As last year, the Continuing Resolution is a temporary solution, continuing fun...
How the Marriott-Starwood Merger Will Affect Every Stakeholder in the Hotel Industry
Jim Butler | October 4, 2016
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Author of www.HotelLawBlog.com Most of the people we talk to in the hotel industry believe that consolidations, such as the recent Marriott-Starwood and Accor-Fairmont mergers, will have a big effect on their own hotel investments and other stakeholders in the hotel industry. JMBM's Global Hospitality Group® would like to know what you think about these events. Please click on the link below to tell us how these mergers will impact your business with this 6-question survey that should take you less than 3 minutes to complete. Click here to take our survey. We will s...
How Many Millions Could “Prevailing Wage” Cost Your Hotel?
Jim Butler | October 3, 2016
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Author of www.HotelLawBlog.com PREVAILING WAGE LAW is California's "other" minimum wage. It requires workers to be paid union wages on publicly funded construction projects. But in recent years, the law in California has EXPANDED well beyond its initial purpose. It has become a tool for workers to demand union wages on virtually any construction project in California. These claims can increase the cost of a major construction project by millions of dollars—and can be brought years after construction is complete. $8 million Prevailing Wage verdict in 2011 for work ...
Paramount Lodging Advisors Assists in the Sale of the Detroit Metro Airport Marriott
Paramount Lodging Advisors | September 28, 2016
Paramount Lodging Advisors (PLA) is pleased to announce the sale of the Detroit Metro Airport Marriott. PLA exclusively represented the seller in the transaction, with PLA Managing Directors Bennett Webster, Brent Clemens, and Adam Montufar leading the marketing efforts on the 249-room full-service hotel. "Our team was pleased with the activity on the sale. The marketing process resulted in approximately 190 confidentiality agreements and nearly 20 offers," noted Montufar. "We remain bullish on Detroit and the broader Metro area and we look forward to continued success in the market. We believe Detroit is one of the few top-20 MSA's tha...
Paramount Lodging Advisors’ Interns Awarded Highest Honors At DePaul University’s Real Estate Department Fall Reception
Paramount Lodging Advisors | September 23, 2016
CHICAGO, IL – The Paramount Lodging Advisors (PLA) team is proud to recognize the achievements of DePaul University interns Lindsey White and Daniel Jackson. Both DePaul University students were awarded the most prestigious scholarships from DePaul University's Real Estate Department and the Kellstadt Graduate School of Business. Lindsey was granted the DePaul Real Estate Alumni Association Scholarship, which was given to an undergraduate student whom exemplified high-achievement in the real estate program. Lindsey will graduate early in 2018, when she is sure to take the commercial real estate industry by storm. Daniel received T...
The Middle East’s Top Three Cities with Largest Construction Pipelines are Dubai; Riyadh, Saudi Arabia; and Doha, Qatar
Lodging Econometrics | September 23, 2016
September 23, 2016 – PORTSMOUTH, NH – According to the Middle East's Hotel Construction Pipeline from Lodging Econometrics (LE), the three cities with the largest pipelines are: Dubai with 110 Projects/31,155 Rooms, Riyadh, Saudi Arabia with 56 Projects/11,866 Rooms, and Doha, Qatar with 44 Projects/9,554 Rooms. The leading franchise companies in the Middle East's Pipeline are: Hilton Worldwide with 75 Projects/22,708 Rooms, Starwood Hotels & Resorts with 49 Projects/14,249 Rooms and Marriott International with 43 Projects/10,513 Rooms. The leading brand for each of the Middle East's top three franchise companies are: Hi...
