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
La Quinta Inn & Suites Hotel Opens in Atlanta
La Quinta | March 31, 2016
Opening Marks a New Level of Service and Guest Comfort in the Atlanta Market Highlights La Quinta Inn & Suites' first partnership with JHM Hotels, one of the industry's leading hotel management and development companies Atlanta, GA, March 31, 2016 – To serve the growing number of visitors traveling to the Atlanta area, La Quinta Inns & Suites announces the opening of the new La Quinta Inn & Suites™ Atlanta Airport North located at 1200 Virginia Avenue. Whether traveling for business or leisure, this new six-story hotel offers guests a refreshing and engaging experience providing 188 beautifully appointed guest ro...
GE to Sell its U.S. Hotel Franchise Loan Portfolio for $1.4 billion to Western Alliance
GE | March 30, 2016
FAIRFIELD, Conn. - March 30, 2016 - GE (NYSE:GE) has reached an agreement to sell GE Capital's Franchise Finance U.S. hotel business to Western Alliance Bank, a wholly owned subsidiary of Western Alliance Bancorporation (NYSE: WAL). The sale includes approximately $1.4 billion in ending net investment (ENI) and the majority of the hotel business employees. The business provides real estate financing to owners of limited service hotel properties. Separately, GE also reached an agreement to sell its Canadian Franchise Finance business, including most employees, to a different buyer, representing about $0.3 billion in ENI. The business pro...
Historic San Juan Hotel in Miami Beach Completes Renovations
Oberhausen Marketing & PR | March 22, 2016
Miami, FL – The historic San Juan Hotel, located on 1680 Collins Avenue in Miami Beach, has finished a multi-million dollar renovation. Stantec, the architectural and design firm known for award-winning hotel renovation projects in South Florida, completed the new interior redesign which included guest rooms, public spaces and pool area featuring a fresh sophisticated nautical design. Renowned architect Henry Hohauser originally built the three-story, 76-room hotel in 1948. Design inspirations stemmed from the hotel's original postwar modern style with nautical influences reminiscent of Old San Juan, Puerto Rico. Warm woods with vintage ...
Hotel AG Closes 169-Room San Francisco Airport Hotel
Hotel AG | March 22, 2016
ATLANTA – March 22, 2016 – Hotel Assets Group, LLC (Hotel AG) is pleased to announce that it has arranged the sale of the Comfort Inn & Suites San Francisco Airport in South San Francisco, California. Eric Gunderson, a partner in the firms Los Angeles office exclusively represented the Buyer and Seller in the transaction. The Comfort Inn & Suites San Francisco Airport is located just north of the main terminal of San Francisco International Airport (SFO) and adjacent to the South San Francisco Caltrain Station. The hotel sits on approximately 2.91 acres of fee simple land. 2015 marked a record year for SFO with over ...
New $150 million Mixed Use Development in Tampa, FL Includes Plans for Encore Hotel, a 20-story Hotel along with a 28-story Residential Tower
Construct-A-Lead | March 14, 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...
‘New World Cities’ Taking Centre Stage in Global Real Estate Investment Market
JLL | March 4, 2016
JLL's latest Real Estate Investment Intensity Index LONDON, March 4 2016 - The latest JLL Investment Intensity Index, which measures the volume of direct commercial real estate investment in a city relative to the city's economic size, reveals the increasing attractiveness of 'New World Cities' to investors. The world's most globalised metropolitan economies continue to account for a significant portion of global transactions, with the top 10 cities for transaction volumes accounting for nearly 30 percent of global investment over the last three years. However, over the past 10 years a core set of 32 New World Cities has steadily increa...
Record €23.7 Billion Spent on Hotels in Europe in 2015 as Transactions Reach Highest Level Ever According to HVS
HVS | March 3, 2016
3 March 2016, London: European hotel transaction volume totalled €23.7 billion in 2015, a record level and an increase of 66% on the previous year, according to the annual European Hotel Transactions report, published this week by HVS and its brokerage and investment services division HVS Hodges Ward Elliott. The year outperformed pre-downturn levels driven by an extremely active portfolio transactions market. Investors from Europe accounted for €10.9 billion-worth of transactions with activity from the Middle East up 140% to €4.4 billion, and that from North America up 46% to €5.5 billion. "Investors were attracted ...
What’s Coming? Lizard Hotel, Waterpark & More: Updates for These and Other Hotel Construction & Renovation Projects
Construct-A-Lead | February 29, 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 Assists In Seventh Successful Indiana Transaction In Five Months
Paramount Lodging Advisors | February 29, 2016
Paramount Lodging Advisors (PLA) is pleased to announce the sale of the Holiday Inn Express Merrillville. PLA represented the seller, RLJ Lodging Trust, with Senior Managing Director Scott Griemsmann, and Managing Directors Bennett Webster and Brent Clemens leading the efforts on the transaction of the 62-room, limited service hotel. Clemens noted, "This deal marks PLA's seventh successful transaction in Indiana in the preceding five months, and maintains our team's continued success in the I-65 corridor from Chicago to Indianapolis." "We were pleased to assist RLJ in the disposition of one of their non-core assets and look forw...
WinStar World Casino Upgrades to InvoTech RFID Uniform Management System
InvoTech Systems, Inc. | February 26, 2016
Another InvoTech Customer Upgrades their Uniform System with RFID Technology for More Efficient Operations and Cost Saving Benefits LOS ANGELES, CA – Feb. 29, 2016 – InvoTech Systems, Inc. announced WinStar World Casino and Resort, owned and operated by the Chickasaw Nation in Oklahoma, is upgrading its uniform management and control processes with InvoTech's RFID Uniform System. WinStar has benefited from the control and accountability established by the InvoTech Uniform System since it was implemented in 2006. The RFID technology upgrade will provide additional cost-saving benefits by automating manual tasks that were prev...
ADA Compliance & Defense Lawyer Update: Lawmakers Consider Steps to Limit Abusive ADA Lawsuits
Jim Butler | February 24, 2016
By Jim Butler and the Global Hospitality Group® 24 February 2016 As the number of ADA lawsuits continues to explode, both Federal and California lawmakers are considering steps to limit abusive ADA lawsuits. Here is an update on these positive developments from my partner, Marty Orlick, who heads JMBM's ADA Compliance & Defense Group that has defended more than 600 ADA cases and DOJ investigations. Amid Growing Concerns Over the Proliferation of ADA Lawsuits, Congress and the California Legislature Address Measures to Curb ADA Abuse by Martin H. Orlick, Chair, JMBM's ADA Compliance and Defense Group Since 2004, more than 20,000 ...
Hotel AG Announces January and February Closings
Hotel AG | February 24, 2016
ATLANTA – February 24, 2016 – Hotel AG announced today the firm has closed 8 hotel transactions since January 1st. The transactions included 4 full service and 4 select service hotels located across five regions of the US. The transactions comprise of a full service Marriott located in a major west coast market, a full service beach front hotel in Daytona, a Holiday Inn in Louisiana, a La Quinta in Houston, a Marriott branded hotel in the northeast, a classic boutique hotel located in a northeast river town and two other select service hotels located in the southern crescent. Hotel AG brokers involved in these transactions w...
Boston Lodging Market Poised for Continued Growth and Investor Appeal
Sebastian J. Colella | February 22, 2016
By Sebastian J. Colella The economy in Boston and Cambridge is driven by a diverse set of growth engines which have provided it with a level of stability through multiple recessions. While the city remains reliant on its traditional industries such as financial services, education and healthcare, it has also become a hub for innovation, technology, and life sciences, all of which drive corporate travel throughout the calendar year. The city's rich history, convention centers, amenities, and ease of access contribute to its ability to attract group and leisure travel. The Boston/Cambridge lodging market has now experienced six consecutiv...
Kimpton Hotels Plans for a $30 million Bellevue, WA Hotel Advancing; Updates for this and Other Hotel Construction Projects
Construct-A-Lead | February 15, 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 week. 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. Ref...
MKG’s Annual European Hotel Ranking 2015: Premier Inn is European Champion of Supply Growth
February 11, 2016
The leaders are French but the growth is British and German. In 2014, Premier Inn posted the fastest supply growth in the EU. It is followed by Ibis and Motel One. The list of the 10 fastest-growing chains in the EU offer meaningful insights about structural trends in the European hotel industry. MKG Hospitality's 2015 ranking of hotel chains and groups in Europe highlights several noteworthy trends. The leader in terms of growth is British : Premier Inn added more than 4,300 rooms to its inventory in 2014. Through its development in the UK, the brand of the Whitbread group surpassed the net number of new rooms in Europe created by...
EB-5 Financing Accelerates in 2016 and Favors (1) Hotels, (2) Mixed-Use and (3) Multifamily as Top 3 Targets for EB-5 Funding
Jim Butler | February 10, 2016
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 10 February 2016 Hotel Lawyer in Los Angeles at the latest EB-5 Summit If you have been thinking about tapping into EB-5 financing for your development project, this is the time to make your decision and act quickly. If you need background on what the EB-5 program is about, how it has gone mainstream with institutional investors for several years, and is now providing a steady stream of reliable capital, please see the articles referenced at the bottom. We think that JMBM's Global Hospitality Group® EB-5 financing team has a pretty go...
La Quinta Inns & Suites Opens in Rockford
La Quinta | February 9, 2016
Opening Marks a New Level of Service and Guest Comfort in the Chicago Area Market Highlights Brand's Expansion in the State of Illinois Rockford, IL, February 9, 2016 – To serve the growing number of visitors traveling to the Rockford area, La Quinta Inns & Suites announces the opening of the new La Quinta Inn & Suites™ Rockford located at 7401 Walton Street. Whether traveling for business or leisure, this new four-story hotel offers guests a refreshing and engaging experience providing 92 beautifully appointed guest rooms, an onsite business and fitness center, meeting facilities and indoor swimming pool and spa. Co...
La Quinta Inn & Suites Opens in Niagara Falls
La Quinta | February 2, 2016
Opening Marks a New Level of Service and Guest Comfort in the Niagara Falls Area Market Highlights Brand's Expansion in the State of New York Niagara Falls, NY, February 2, 2016– To serve the growing number of visitors traveling to the Niagara Falls area, La Quinta Inns & Suites announces the opening of the new La Quinta Inn & Suites™ - Niagara Falls located at 6225 Niagara Falls Blvd. Whether traveling for business or leisure, this new four-story hotel offers guests a refreshing and engaging experience providing 66 beautifully appointed guest rooms, an onsite business and fitness center, meeting facilities and indoo...
Hotel Development Partners Bringing New Residence Inn to the Perimeter Area, North of Atlanta
Hotel Development Partners | February 2, 2016
ATLANTA – One of the last undeveloped quadrants along the Perimeter business district's primary commercial corridor is under construction. Owned and developed by Hotel Development Partners, the 4.8-acre site that surrounds the existing Spruill Center for the Arts is soon to be home to the area's newest Marriott-branded hotel, an internationally renowned Brazilian steakhouse and other dining and shopping amenities. The Shopping Center Group is leasing the site that is located at the signalized intersection of Ashford Dunwoody and Meadow Lane Roads. "Ashford Dunwoody continues to serve as the Perimeter market's primary commercial co...
Hotel Lawyer at the ALIS Hotel Conference in Los Angeles — a Turnaround in Hotel Investor Sentiment? Was That Just a Raindrop or Is the Sky Falling?
Jim Butler | January 28, 2016
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 28 January 2016 Hotel Lawyers with first signs of a sea change in investor sentiment about the hotel sector As our team of hotel lawyers returns from the Americas Lodging Investment Summit (or ALIS) in Los Angeles, we all noticed a big change. This is the first industry conference since the beginning of the recovery from the Great Recession where we have seen a clear turnaround in hotel investor sentiment that seems to be gaining traction. Unfortunately it is a negative turnaround. Until now, the discussions have always been about how lon...
Positive Operating Leverage Results in Another Year of Hotel Value Gains; Cap Rates Start to Rise
Suzanne Mellen | January 25, 2016
By Suzanne Mellen Five years of steady cap rates and rising NOI have resulted in significant U.S. hotel asset appreciation. The current economic landscape is likely to cause hotel cap rates to rise in 2016, moderating future value gains. Click to view document. ...
San Diego’s 831-room 5th Avenue Landing Progress Continues and Other Hotel Construction Updates
Construct-A-Lead | January 25, 2016
Hotel-Online and Construct-A-Lead reported today that there have been dozens of new hotel construction leads added to the Construct-A-Lead hotel project database during the past week. 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. Reference the Pro...
Hotel AG Adds Two New Offices in Washington, DC and Philadelphia
Hotel AG | January 25, 2016
ATLANTA – January 25, 2015 – Hotel AG announced today the firm has added two new offices in Washington, DC and Philadelphia. Andy Broad and Brad Sinclair, as co-presidents of the firm, have hired two very seasoned real estate professionals to lead the two new offices. The official launch date is several weeks away and plans are being made to implement and ramp up the two new Hotel AG offices. Both professionals have joined the firm at the partner level, thereby increasing Hotel AG to 18 national brokers and 23 partners. Hotel AG starts 2016 with the most aggressive pipeline since the firm started in 2007. The firm has 194 ho...
Not Just Heads in Beds – Cybersecurity for Hotel Owners
Jim Butler | January 12, 2016
By Jim Butler and the Global Hospitality Group® | Authors of www.HotelLawBlog.com January 2016 What part do hotel owners play in preventing a cyberattack and the resulting data breach? The hospitality industry relies on its reputation for confidence, and that confidence can be shattered when guests learn that their private information has been compromised. What can hotel owners do and how should they work with brands and management to prevent a cyberattack? In the article below, my partner, Bob Braun reminds hotel owners that because they are generally required to indemnify brands and managers for costs the managers and brands incur...
