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
Hotel Development Partners & Ares Management Acquire Three Hotels in Charleston, S.C.
Hotel Development Partners | August 6, 2015
ATLANTA, GA & LOS ANGELES, CA (August 6, 2015) – Hotel Development Partners (HDP) and funds managed by Ares Management, L.P. (NYSE: ARES) recently announced the purchase of three select service hotels with a total of 248 rooms in North Charleston, South Carolina. The well-positioned hotels include two carrying the Marriott brand—the Residence Inn by Marriott Charleston North/Ashley Phosphate and the Fairfield Inn & Suites by Marriott Charleston North/Ashley Phosphate—as well as a third that is part of the Choice Hotels portfolio of brands. Clustered together in an area just 15 minutes from Historic Downtown Cha...
Hotel AG Appoints Co-Presidents
Hotel AG | August 4, 2015
ATLANTA - August 4, 2015 - Hotel Assets Group, LLC (Hotel AG) is pleased to announce today that Brad Sinclair and Andrew Broad have been appointed as co-presidents of the firm. "This is a strategic move for Hotel AG and one that I believe to be a catalyst for the firm's future," commented H. Keith Thompson, Hotel AG founder and principal. Thompson added, "The firm has seen significant growth since its inception and has continued to establish itself as one of the most prominent hotel brokerage firms in the US. Over the past three years, Hotel AG has added strategic offices in Los Angeles, Chicago, New York, Tampa and Portland; with Washi...
2015 Hotel Investment and Finance Opportunities: Hospitality Market Activity and Interest Rates
Jim Butler | July 1, 2015
By Jim Butler and the Global Hospitality Group® Author of www.HotelLawBlog.com July 2015 Bill Sipple, Executive Managing Director of HVS Capital, speaks in the video about activity in different markets, limited service properties, and whether rising interest rates will have an effect on transactional activity. Bill sat down with Bob Braun, a senior partner in the JMBM Global Hospitality Group®, as part of our video interview series on hotel finance and investment opportunities in 2015. Bob Braun: Hi, I'm Bob Braun. I am a Partner at Jeffer Mangels Butler & Mitchell. I'm here at Meet the Money® 2015, our 25th anniversary. I'm here...
2015 Hotel Investment and Finance Opportunities: Hotel Operating Agreements and Asset Management
Jim Butler | June 30, 2015
By Jim Butler and the Global Hospitality Group® Author of www.HotelLawBlog.com June 2015 Jack Westergom, Managing Director of Manhattan Hospitality Advisors, discusses hotel operating agreements, asset management, and the RFP process in the video. Jack spoke with David Sudeck, a senior partner in the JMBM Global Hospitality Group®, as part of our video interview series on hotel finance and investment opportunities in 2015. David Sudeck: I'm David Sudeck. I'm a senior attorney with Global Hospitality Group® at Jeffer Mangels Butler & Mitchell. We're here at the 25th Annual Meet the Money® Conference. I'm here with Jack Westergom,...
US Supreme Court Voids LA Ordinance Requiring Hotel Operators to Turn Over Guest Records on Demand
Jim Butler | June 29, 2015
By Jim Butler and the Global Hospitality Group® Author of www.HotelLawBlog.com June 2015 In a 5-4 opinion rendered on June 22, 2015, the United States Supreme Court held that a Los Angeles municipal code provision violates the US Constitution's Fourth Amendment prohibition on unreasonable search and seizures. The invalidated LA Code provision requires hotel operators to make guest records available to the police upon request. This case may be significant because many cities throughout the country have similar laws, and they are now all constitutionally suspect. On the other hand, for reasons discussed below, most hotel operators will p...
2015 Hotel Investment and Finance Opportunities: Hotel Supply Growth, Occupancies, and Other Metrics
Jim Butler | June 26, 2015
By Jim Butler and the Global Hospitality Group® Author of www.HotelLawBlog.com June 2015 Vail Brown, Vice President of STR, discusses all-time highs in the hospitality market for multiple metrics, her predictions for the next few years, and STR's expansion into food and beverage analysis in the video. Vail spoke with David Sudeck, a senior partner in the JMBM Global Hospitality Group®, as part of our video interview series on hotel finance and investment opportunities in 2015. David Sudeck: I'm David Sudeck, I'm with Jeffer Mangels Global Hospitality Group. We're here at the 2015 Meet the Money® Conference, which is the 25th Annual M...
2015 Hotel Investment and Finance Opportunities: Hotel Values and Brand Proliferation
Jim Butler | June 25, 2015
By Jim Butler and the Global Hospitality Group® Author of www.HotelLawBlog.com June 2015 Stephen Rushmore, Jr., President and CEO of HVS, speaks in the video about hotel values in the next few years, new development, and brand proliferation. Stephen spoke with David Sudeck, a senior partner in the JMBM Global Hospitality Group®, as part of our video interview series on hotel finance and investment opportunities in 2015. David Sudeck: We are at the 25th Annual Meet the Money® Conference 2015. I am happy to be here with Stephen Rushmore, President and CEO of HVS. Welcome, Stephen. Stephen Rushmore, Jr.: Good to be here. Thanks. David S...
2015 Hotel Investment and Finance Opportunities: Hottest Hospitality Segments for Investors
Jim Butler | June 24, 2015
By Jim Butler and the Global Hospitality Group® Author of www.HotelLawBlog.com June 2015 Deric Eubanks, Chief Financial Officer of Ashford Hospitality Trust, discusses why now is a great time to buy hotels, which segment provides the best opportunities, and how supply growth will affect the hospitality industry over the next few years. Deric sat down with Bob Braun, a senior partner in the JMBM Global Hospitality Group®, as part of our video interview series on hotel finance and investment opportunities in 2015. Bob Braun: Hi, I'm Bob Braun. I am a Partner at Jeffer Mangels Butler & Mitchell and I'm a senior member of our Global H...
2015 Hotel Investment and Finance Opportunities: World’s Largest Bank
Jim Butler | June 23, 2015
By Jim Butler and the Global Hospitality Group® Author of www.HotelLawBlog.com June 2015 Alice Gao, Senior Vice President of the Industrial and Commercial Bank of China, discusses ICBC's global reach, its U.S. lending program, and recent deals in the video. Alice spoke with David Sudeck, a senior partner in the JMBM Global Hospitality Group®, as part of our video interview series on hotel finance and investment opportunities in 2015. David Sudeck: We're here at the Meet the Money® Conference 2015, which is the 25th Annual Hotel Investment Conference for JMBM. I'm sitting here with Alice Gao, Senior Vice President and Head of Commerci...
2015 Hotel Investment and Finance Opportunities: New Supply and Assets for Sale
Jim Butler | June 22, 2015
By Jim Butler and the Global Hospitality Group® Author of www.HotelLawBlog.com June 2015 Bill Blackham, President and CEO of Supertel Hospitality, speaks in the video about new supply and assets coming to the marketplace for sale, changing guest expectations across different segments, and financing for new development. Bill spoke with Bob Braun, a senior partner in the JMBM Global Hospitality Group®, as part of our video interview series on hotel finance and investment opportunities in 2015. Bob Braun: I'm Bob Braun, I am a partner at Jeffer, Mangels Butler and Mitchell. I'm part of the Global Hospitality Group®. I'm here at Meet the...
2015 Hotel Investment and Finance Opportunities: Chinese Investment in U.S. Hotels
Jim Butler | June 19, 2015
Don Li of Interstate Hotels discusses By Jim Butler and the Global Hospitality Group® Author of www.HotelLawBlog.com June 2015 Don Li, head of Asia Investment for Interstate Hotels, speaks in the video about what drives Chinese investment in U.S. assets, why an understanding of language and cultural issues is important, and what types of hotels foreign investors are looking for. Don sat down with David Sudeck, a senior partner in the JMBM Global Hospitality Group®, as part of our video interview series on hotel finance and investment opportunities in 2015. David Sudeck: I'm David Sudeck. I'm a partner with JMBM's Global Hospitality Gr...
2015 Hotel Investment and Finance Opportunities: Crowdfinding for Hospitality Real Estate Deals
Jim Butler | June 18, 2015
Elizabeth Braman of Realty Mogul explains By Jim Butler and the Global Hospitality Group® Author of www.HotelLawBlog.com June 2015 Elizabeth Braman, Chief Production Officer at Realty Mogul, discusses crowdfunding for hospitality real estate projects and the benefits to investors in the video. Elizabeth spoke with David Sudeck, a senior partner in the JMBM Global Hospitality Group®, as part of our video interview series on hotel finance and investment opportunities in 2015. David Sudeck: I'm David Sudeck. I'm with Jeffer Mangels Global Hospitality Group®. We're here at the 25th Annual Meet the Money® Conference. I'm here with Elizab...
2015 Hotel Investment and Finance Opportunities:“Where are we in the current hospitality cycle?”
Jim Butler | June 17, 2015
Mike Cahill of HREC sheds light on the question By Jim Butler and the Global Hospitality Group® Author of www.HotelLawBlog.com June 2015 Mike Cahill, CEO and Founder of Hospitality Real Estate Counselors and co-chairman of the Lodging Industry Investment Council, speaks in the video about activity in the 2015 hospitality market, the current cycle and where we may be headed next, distressed hotel sales from lenders, and interest rates and other potential disruptors to the hotel industry. Mike's conversation with Bob Braun, a senior partner in the JMBM Global Hospitality Group®, is part of our video interview series on hotel finance and...
HVS Design and JN+A Release 2015 Hotel Cost Estimating Guide
HVS Design | June 11, 2015
June 11, 2015 HVS Design and Jonathan Nehmer + Associates (JN+A) are proud to announce the completion of the 2015 Hotel Cost Estimating Guide. The Guide is a comprehensive listing of capital expenditure construction and FF&E costs for hotel renovations in the USA. HVS Design and Jonathan Nehmer + Associates, Inc. (JN+A), leading Architecture, Interior Design, and Project Management firms specializing in the hospitality industry, are proud to announce the completion of the 2015 Hotel Cost Estimating Guide. The Guide is a comprehensive listing of capital expenditure construction and FF&E costs for hotel renovations. Now in its sev...
Hotel ADR Rise vs Distribution Channels Cost, What Hoteliers Need to Calculate?
Ahmed Mahmoud | June 10, 2015
by Ahmed Mahmoud According to the latest TravelClick data launched early May 2015, Hotel bookings from individual business and leisure travellers spiked across a variety of digital channels in the first quarter of 2015, That includes bookings made through official hotel websites, online travel agencies (OTAs), and Global Distribution Systems (GDS). OTAs (which include Expedia.com, Hotels.com and Bookings.com) experienced the greatest jump in bookings, with a 15.1 percent increase compared to the first quarter of 2014. Reservations made directly through hotel websites also grew by 7.1 percent, year-over-year, while GDS bookings increased...
InvoTech Returns to HITEC with RFID Uniform System and Linen System
InvoTech Systems | June 4, 2015
At HITEC Visit InvoTech Systems in Booth #736 June 16 to 18 at the Austin Convention Center 15th Year at HITEC: Industry Leader Showcasing New Product Offering – Pool Towel System LOS ANGELES – June 4, 2015 – InvoTech Systems will be exhibiting at HITEC, the world's largest hospitality technology show, for its 15th year. InvoTech will showcase its RFID Uniform and Linen Management Systems that increase property profitability. InvoTech will also launch a new RFID Pool Towel Tracking System, which is a module of the InvoTech Linen System. InvoTech is the leading provider of advanced Linen and Uniform Management Systems that integr...
La Quinta Adds to International Expansion with Opening of First LQ Hotel in Honduras
La Quinta | May 13, 2015
IRVING, Texas (May 13, 2015) - La Quinta announced that its first LQ Hotel has opened in Tegucigalpa, Honduras. The new hotel, which is located just four kilometers away from the Toncontin International Airport and adjacent to the Las Cascadas Mall, is a ten-story modern style building offering 110 rooms. "We are very excited about the opening of this hotel and our entrance into Honduras, as it marks a key milestone in our expansion strategy into Latin America," said Wayne Goldberg, Chief Executive Officer of La Quinta. "We have seen an increase of both business and leisure travelers in the region and as our current pipel...
Presentations from Meet the Money® 2015
JMBM | May 12, 2015
Suzanne Mellen, Alan Reay, Vail Brown, Stephen Rushmore, Jr., Mark Woodworth, Mike Cahill and Richard Green By Jim Butler and the Global Hospitality Group® 12 May 2015 Meet the Money® 2015 – Information, deals, reflection, and celebration Conference presentations now available JMBM's Meet the Money® 2015, held at the Sheraton LAX in Los Angeles, wrapped up its 25th national hotel finance and investment conference this week. The hotel lawyers in JMBM's Global Hospitality Group were fortunate to celebrate such a significant milestone (25 years!) at a time when the hotel industry is breaking all-time records – RevPar, Occupancy...
La Quinta Arrives in Chile with an LQ Hotel Near Santiago Airport
La Quinta | May 11, 2015
SANTIAGO, Chile (May 11, 2015) - Chile will be the first country in the southern cone in La Quinta's expansion strategy in Latin America, with a franchise agreement for an LQ Hotel by La Quinta with the Chilean company Inmobiliaria e Inversiones Profit Summit Limitada. The hotel, which will feature 100 rooms, spacious lobby, fitness center, indoor pool, meeting space and a business center, will open its doors in 2017 in the Pudahuel area, close to Santiago's international airport. With over 47 years of experience and more than 870 La Quinta Inn & Suites and La Quinta Inn hotels located in the U.S., Canada and Mexico, and wit...
Hotel AG Continues Pace of Closings
Hotel AG | April 20, 2015
ATLANTA - April 20, 2015 - Hotel Assets Group, LLC (Hotel AG) is pleased to announce several of the firm's recent closings were the Hampton Inn & Suites at the San Francisco Airport, The Hampton Inn & Suites in Frazer/Great Valley, Pennsylvania and a completed auction process on a hotel in Louisiana. Eric Gunderson, a partner located in the firm's Los Angeles office, handled the sale in San Francisco, and Michael Bernath, from the firm's Atlanta office, handled the transactions in Pennsylvania and Louisiana. The firm has been involved in 191 hotel transactions over the last 24 months with many of the assets being Hilton, Marriot...
Hotel AG Closes San Francisco Airport Hotel
Hotel AG | April 20, 2015
ATLANTA - April 20, 2015 - Hotel Assets Group, LLC (Hotel AG) is pleased to announce that it has arranged the sale of the Hampton Inn & Suites in Burlingame, California at the San Francisco Airport. Eric Gunderson, a partner in the firm's Los Angeles office, exclusively represented the Seller, Saturn Investment Group, LLC. The Hampton Inn & Suites is located less than two miles from the main terminal of the San Francisco International Airport (SFO) and only 14 miles from downtown San Francisco. SFO had a record of 47 million passenger boardings in 2014, marking eight consecutive years of passenger growth. Eric Gunderson remarked...
Hotel Development in Three Phases
Larry Mogelonsky | April 15, 2015
By Larry Mogelonsky, MBA, P. Eng. (www.lma.ca) Of late, our agency has been involved in several new property developments. All are coming along quite successfully and appear to be on track to meet their launch dates. To put it bluntly, the process of initiating a new property is not for the faint of heart. Far from it. It takes an excruciating toll from all those involved in the process. Many have asked me if there is a formula for success, to which I reply with a simple-yet-pervasive, three-part answer. 1. Vision It starts with a vision from the developer - what they hope to deliver to the marketplace. For a hotel/resort this includes ...
Hotel Development Partners Acquires Portfolio of 7 Marriott-branded Hotels; 6 Located in Atlanta, GA
Hotel Development Partners | April 14, 2015
ATLANTA, GA (April 14, 2015) - Atlanta-based Hotel Development Partners (HDP) recently announced the addition of seven select-service Marriott hotels to its growing portfolio of properties. HDP purchased the properties from Houston-based Moody National for Atlanta-based Hotel Equities will continue to manage all seven hotels through its JV partnership with HDP. With well-established performance records and excellent locations in their various metro markets, the hotels bring financial success and award-winning customer service with the deal. The hotels included in the purchase are: Fairfield Inn & Suites, Alpharetta, Fairfield Inn &a...
Let’s Talk About Cost Controls
Kirby D. Payne, CHA | March 30, 2015
A hotel manager's most important tasks are making money for the owner and maintaining the asset. Satisfied guests and motivated employees are among the tools, but cost controls are also critical components of the formula. by Kirby Payne Managing expenses is among the most important things a manager does to achieve an owner's goals of profit and value. (I never say it is the most important because everyone knows, "Nothing happens until somebody sells something." But, it is close!) The most central elements of effective expense management are proactive rather than reactive. The first step in expense management is budgeting, and zero-based...
