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
B.F Saul Company Celebrates Grounbreaking of New Homewood Suites by Hilton in Arlington, Virginia
Homewood Suites by Hilton | June 6, 2016
ROSSLYN, Va.- June 6, 2016 – The B. F. Saul Company looks forward to adding an upscale, all-suite hotel to its presence in Arlington County, Virginia. On Wednesday, June 1, 2016, partners from Hilton Worldwide, the Commonwealth of Virginia, Arlington County, Donohoe Construction Company, and BB&T joined the B. F. Saul Company in breaking ground on the 168-unit Homewood Suites by Hilton, located at 1900 North Quinn Street in Rosslyn near the Key Bridge. The hotel will welcome its first guests in early spring of 2018. The new hotel will be built on the site of the former Colony House Furniture Store, a local landmark that served...
Paramount Lodging Advisors Sells Two Limited Service Hotels in Pittsburgh
Paramount Lodging Advisors | June 2, 2016
Paramount Lodging Advisors (PLA) is pleased to announce the sale of the Holiday Inn Express Harmarville and the Comfort Inn Meadowlands. PLA exclusively represented the seller with Managing Directors Bennett Webster and Brent Clemens, and Associate Omari Head leading the efforts on the transaction of the two properties. "This deal concludes three successful transactions in Pittsburgh in the prior three months. We continue to be pleased with the interest levels and believe there remains substantial pent up demand for limited and select service product in Allegheny and Washington County," noted Head. "These deals now bring our Ten-X Comme...
Fulcrum Hospitality LLC Appoints Veteran Hospitality Leader as Executive Vice President
Fulcrum Hospitality LLC | May 27, 2016
Prominent lodging industry expert Larry Kaminsky has joined Fulcrum's senior leadership team. New York, NY June 1, 2016 – This morning, Fulcrum Hospitality LLC ("Fulcrum") announced the appointment of hospitality industry veteran Larry Kaminsky to its senior leadership team as Executive Vice President. Mr. Kaminsky brings a 20-plus year background in hotel asset management and finance to Fulcrum's existing team of hospitality executives, and furthers Fulcrum's mission of dedicating senior-level leaders on every one its respective hotel engagements. Mr. Kaminsky was formerly the Senior Vice President of Asset Management at LaSalle ...
Hospitality Focus on Construction Costs
The Author | May 27, 2016
By Elaine Sahlins The feasibility of a new hotel is driven by a number of factors, foremost among them – the availability of sites, the costs to build, the price and accessibility of financing, and the demand for hotel rooms at a rate point that supports all these and other elements. With several of these items falling into place in many markets across the U.S., hotel construction continues to accelerate. Cushman & Wakefield's Hospitality & Gaming practice provides consulting and valuation services for new and existing hotel properties across the country. In recent years, the majority of new hotel projects we have worked o...
Hotel Development Partners & Hotel Equities Open the 132-room Hampton Inn & Suites Atlanta Perimeter Dunwoody
Hotel Equities | May 26, 2016
Atlanta, GA–May 26, 2016 – Atlanta-based Hotel Development Partners (HDP) announced the opening of the Hampton Inn & Suites by Hilton Atlanta Perimeter Dunwoody. The 132-room hotel is located at 4565 Ashford Dunwoody Road in north Atlanta's prime office-retail market. Atlanta-based Hotel Equities serves as a joint venture partner with Hotel Development Partners as an owner of the hotel. Hotel Equities is also the management company for the uniquely urban version of the Hampton Inn & Suites hotel. Jason Caughron leads the team as the General Manager with Trudy Sankey as the Director of Sales. "The hotel will enhance l...
La Quinta Inn & Suites Hotel Opens in Hollister, Missouri
La Quinta | May 25, 2016
Opening Marks a New Level of Service and Guest Comfort in the Springfield Market Hollister, MO, May 25, 2016 – To serve the growing number of visitors traveling to the Springfield area, La Quinta Inns & Suites announces the opening of the new La Quinta Inn & Suites™ located at 291 Financial Drive, Hollister, MO. Whether traveling for business or leisure, this new four-story hotel offers guests a refreshing and engaging experience providing 94 beautifully appointed guest rooms, an onsite business and fitness center, and indoor swimming pool and spa. Complimentary Bright Side Breakfast® is served each morning and ...
Warmbrodt Hotel Investments Announces the Sale of the Hilton Garden Inn Kansas City, Kansas
Warmbrodt Hotel Investments | May 17, 2016
WHI announced today they closed the sale of the Hilton Garden Inn Kansas City, Kansas. WHI was the exclusive adviser on behalf of the seller, KCK Hotel Group, LLC. The seller was a public/private partnership between the Unified Government of Wyandotte County/Kansas City, Kansas and a local investment group. The property was sold to an affiliate of Fairwood Capital and HP Hotels has assumed the management of the hotel. The purchaser plans to renovate the guest room bathrooms. "This property was received very well by the national, regional and local investor community and the results for the seller were excellent. The transaction acc...
Industry Fundamentals Are Good Now and Will Continue Improve
Jim Butler | May 16, 2016
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Author of www.HotelLawBlog.com Hotel industry fundamentals are good, and will continue to improve. But the hotel industry is being punished by the disconnect between the investment community of Wall Street and actual performance of the hotels on Main Street. More on the nature of this disconnect shortly, but first, here is the current situation as summarized by Vail Brown of STR last week at the 26th annual Los Angeles hotel investment conference, Meet the Money®. Total United States Key Performance Indicator Outlook (% Change vs. Prior Year) 2016 – 2017 Note...
La Quinta Between the Sheets: Above the Clutter Presented by Pete Krainik in Partnership with IBM
PSFK Labs | May 13, 2016
La Quinta evolves its marketing approach to meet the changing demands of travelers Above The Clutter with Pete Krainik is presented in partnership with IBM. To become part of IBM's community of marketers and for more exclusive ideas about innovation in marketing, click here to become a Think Leader today. Designing for the next generation traveler is a necessity that's being adopted by companies and brands across the hospitality industry, from high-tech hubs at airports to virtual experiences that let you "try-on" a vacation before you go. In the age of digital nomadism, and at a time when young people are increasingly seduced by the p...
Hotel Cybersecurity: Closing the Doors Before the Horses Leave the Barn
Bob Braun | May 11, 2016
By Jim Butler and the Global Hospitality Group® Author of www.HotelLawBlog.com 11 May 2016 One of the great breakout sessions at our recent Meet the Money® hotel conference in Los Angeles was organized by my partner Bob Braun and moderated by Jeff Higley of HotelNewsNow. I was particularly impressed by the panel's evidence of how costly cybersecurity breaches can be, how much can be done to prevent or limit exposure, and how reasonable the cost can be for a pro-active approach. Here is Bob Braun's summary of this panel last week in Los Angeles. This is a compelling call for an ounce of prevention. . . 5 Cybersecurity takeaways f...
IHG Launches New “Franchise Plus” Model for Holiday Inn Express Brand in China
IHG | May 10, 2016
10th May 2016, Shanghai: IHG® (InterContinental Hotels Group), one of the world's leading hotel companies, today announces the launch of a new franchise model for its Holiday Inn Express brand in China. The new model, called Franchise Plus, has been specifically tailored for the Chinese market and provides owners with all of the benefits of operating a franchise model, but with additional benefits and features from IHG's managed model. This announcement comes as IHG signs its first Franchise Plus agreement with Shanghai Yaqi Business Hotel Co., Ltd., for a 260-room Holiday Inn Express hotel in the Hongqiao area of Shanghai. It also ...
Hotel Industry Outlook: Presentations from Meet the Money® 2016, Now Available
Jim Butler | May 9, 2016
By Jim Butler and the Global Hospitality Group® Hotel Lawyers - Author of http://hotellaw.jmbm.com/ 09 May 2016 Meet the Money® 2016 – Deals, dialog and learning Conference presentations now available JMBM's Meet the Money® 2016, completed its 26th national hotel finance and investment conference this week in Los Angeles. While all seem to agree that hotel fundamentals remain strong and that interest rates will remain low in the immediate future, hotel industry leaders expressed more caution than in recent years. They are still doing deals – particularly those that fit into established strategies. In fact, there ...
Tolland Village, CT to Develop $100 million Mixed-Use Project that Includes Hotel
Construct-A-Lead | May 3, 2016
Hotel-Online and Construct-A-Lead report that there have been dozens of new and renovated hotel construction leads added to the Construct-A-Lead hotel project database during the past two weeks. Interested parties are invited to visit construct-a-lead.com and enter promo code hotelonline for a reduced rate available only to Hotel Online subscribers following a free trial that provides you up to five reports to view over three days. Businesses will have ample opportunities to provide construction bids and other services relative to these projects. Users are encouraged to view and track projects, examples of which are listed below. Refere...
The 2016 LIIC Top Ten: The Annual Survey of Lodging Investment Trends and Challenges
The Lodging Industry Investment Council | May 3, 2016
By Jim Butler and the Global Hospitality Group® 3 May, 2016 (Denver, CO) For well over a decade, the members of the hotel industry's preeminent think tank, "LIIC – The Lodging Industry Investment Council," are annually surveyed to develop a list of the major hotel investment opportunities and challenges for the coming year. This exhaustive survey results in the LIIC Top Ten; a highly regarded profile of investment sentiment and attitudes for the lodging industry for the forthcoming 12 months. Altogether, the members of LIIC represent direct acquisition and disposition control of well over $40 billion of lodging real estate. Me...
Federal Judge Takes Decisive Action to Protect Hotels from ADA Abuse by a High Frequency Litigant: ADA Compliance and Defense Lawyer
Martin H. Orlick | May 3, 2016
By Jim Butler and the Global Hospitality Group® Author of www.HotelLawBlog.com 3 May, 2016 Federal Judge Takes Decisive Action to Protect Hotels from ADA Abuse by a High Frequency Litigant by Martin H. Orlick, Chair, JMBM's ADA Compliance and Defense Group In a rare and decisive action, a Central District Court Judge dismissed an Americans with Disabilities Act (ADA) lawsuit filed by an Arizona disabled plaintiff who has recently filed a wave of over 70 ADA lawsuits against Southern California hotels. The plaintiff, who claims she is confined to a wheelchair, called an Orange County hotel to book a room. She asked the hotel represen...
La Quinta Continues Strong Domestic and International Franchise Development in First Quarter 2016
La Quinta Holdings Inc. | May 3, 2016
Opened five new franchise hotels, representing approximately 650 rooms, including key markets Atlanta Airport and Downtown Monterrey, Mexico Signed 12 new franchise agreements, growing development pipeline to 232 hotels, representing more than 20,000 rooms Geographically diverse pipeline includes 42 new Smith Travel Research market tracts IRVING, Texas (May 3, 2016) – La Quinta Holdings Inc. ("La Quinta" or the "Company") (NYSE: LQ) is pleased to announce that franchise interest in La Quinta continues to remain exceptionally strong both domestically and internationally. During the first quarter of 2016, La Quinta opened five ...
Planned Conversion and Renovation of the Cook County Hospital into a Hotel & Apartments Evolving
Construct-A-Lead | April 19, 2016
Hotel-Online and Construct-A-Lead report that there have been dozens of new and renovated hotel construction leads added to the Construct-A-Lead hotel project database during the past two weeks. Interested parties are invited to visit construct-a-lead.com and enter promo code hotelonline for a reduced rate available only to Hotel Online subscribers following a free trial that provides you up to five reports to view over three days. Businesses will have ample opportunities to provide construction bids and other services relative to these projects. Users are encouraged to view and track projects, examples of which are listed below. Refere...
Paramount Lodging Advisors Successfully Advises On Another New England Hotel
Paramount Lodging Advisors | April 19, 2016
CHICAGO, IL – Paramount Lodging Advisors (PLA) has completed the sale of the Hawthorn Suites by Wyndham. The 129-room extended stay property is located at 246 Daniel Webster Highway in Merrimack, New Hampshire. PLA Managing Directors Bennett Webster and Brent Clemens arranged the transaction. "We're pleased to get this one over the finish line and also with our continued success in the market. The trade follows our recent success on a four hotel Boston area portfolio and our work in the Connecticut I-95 corridor," noted PLA's Webster. "Similar to our other New England hotel transactions, there was a significant amount of interest ...
La Quinta Holdings Inc. Appoints John Cantele as Chief Operating Officer
La Quinta Holdings Inc. | April 15, 2016
IRVING, Texas, April 15, 2016 -- La Quinta Holdings Inc. (NYSE: LQ) (the "Company" or "La Quinta") announced today that John Cantele will be joining La Quinta as Executive Vice President and Chief Operating Officer effective April 25, 2016. Mr. Cantele will join the Company from Hyatt Hotels Corporation where he served as the Global Head, Select Hotels. Angelo Lombardi and the Company have mutually agreed that Mr. Lombardi will step down as the Company's Executive Vice President and Chief Operating Officer, effective immediately. "We are excited to add John to our leadership team," said Keith A. Cline, ...
LQ Hotel by La Quinta Opens in Aguascalientes
La Quinta | April 14, 2016
Opening Marks a New Level of Service and Guest Comfort in Aguascalientes, Mexico Highlights Brand's Expansion in Mexico Aguascalientes, Mexico, April 14, 2016– To serve the growing number of visitors traveling to the Aguascalientes area, La Quinta announces the opening of the new LQ Hotel™ Aguascalientes, Mexico located at Carretera Panamericana Sur KM 12. Whether traveling for business or leisure, this new four-story hotel offers guests a refreshing and engaging experience providing 101 beautifully appointed guest rooms, an onsite business and fitness center, meeting facilities and outdoor swimming pool and spa. Complimenta...
Conrad Hotels & Resorts Signs Management Agreement with ASSETS for New Hotel in Doha, Qatar
Assets Real Estate Development | April 13, 2016
DOHA, Qatar and MCLEAN, Va. - 13 April 2016 - Conrad Hotels & Resorts, Hilton Worldwide's (NYSE: HLT) luxury hotel portfolio for the new smart luxury traveller, today announced the signing of a management agreement with Assets Real Estate Development Company for the 325 guestroom Conrad Doha, expected to open in early 2019. Carlos Khneisser, vice president of development, Middle East & North Africa, said, "Momentum for growth in Qatar's hospitality offering continues at a strong rate, owing to the significant focus being put on the country's future as a truly international destination, in line with Qatar's 2030 Vision. We ar...
Scottsdale, AZ to See New $100 million Mixed-Use Development to Include The Palmeraie, a 150-key Luxury Hotel
Construct-A-Lead | April 4, 2016
Hotel-Online and Construct-A-Lead reported today that there have been dozens of new and renovated hotel construction leads added to the Construct-A-Lead hotel project database during the past two weeks. Interested parties are invited to visit construct-a-lead.com and enter promo code hotelonline for a reduced rate available only to Hotel Online subscribers following a free trial that provides you up to five reports to view over three days. Businesses will have ample opportunities to provide construction bids and other services relative to these projects. Users are encouraged to view and track projects, examples of which are listed below...
Paramount Lodging Advisors Assist in Two Auburn Area Hotel Transactions
Paramount Lodging Advisors | April 4, 2016
Paramount Lodging Advisors (PLA) announced today the sale of the Holiday Inn Express and the La Quinta Inn & Suites located in Auburn, Indiana. PLA Managing Directors Bennett Webster and Brent Clemens represented the seller on the two property, 135-room portfolio located adjacent to Interstate 69 and 20-miles north of Fort Wayne, IN. Webster noted, "We were pleased to run an efficient process with the transaction going from execution of the contract to the closing in approximately 30-days." Clemens continued, "This deal marks PLA's eighth and ninth successful transaction in Indiana in the preceding five months and we look forwar...
Meet the Money® 2016 – May 2-4, 2016: 26th National Hotel Finance & Investment Conference in Los Angeles
March 31, 2016
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 31 March 2016 Getting to the winner's circle – marathon, sprint or obstacle course? LOS ANGELES – The 26th annual edition of Meet the Money®, the national hotel finance and investment conference, will be at the Sheraton LAX May 2-4, 2016. The conference will host hotel owners, developers, operators, brands, lenders, investors and other capital providers. Conference speakers will explore financing, re-financing, development, and deals, as they try to answer the questions: what part of the investment cycle are we in? And wha...
