hotelave
hotelAVE Appoints Chris Hague as Chief Operating Officer
hotelAVE | September 8, 2020
PROVIDENCE, R.I., Sept. 8, 2020 - Hotel Asset Value Enhancement (hotelAVE), the premier hotel asset management company, today announced the appointment of Chris Hague as Chief Operating Officer. Chris will play a critical role in overseeing operations, furthering the company's commitment to exceeding client and partner expectations. The announcement was made by Michelle Russo, Chief Executive Officer. "We are honored to welcome Chris to the hotelAVE team, and we are beyond excited to have the privilege of working alongside him," said Russo. "During this pivotal time in the industry, it is imperative that we have a strong team of execut...
HotelAVE Projects New Cleanliness & Social Distancing Protocols Could Cost Hotel Industry $9 Billion Annually
hotelAVE | June 8, 2020
PROVIDENCE, R.I., June 8, 2020 - Hotel Asset Value Enhancement (hotelAVE), the premier hotel asset management company, today released its latest projections that offer significant insights to the anticipated costs that hotel owners and operators can expect to incur as they prepare to reopen. Post Script, hotelAVE's operational efficiency division, estimates that new cleaning protocols could potentially cost the hotel industry as much as $9 billion on an annual basis, based on factors such as the increased frequency of cleaning guest rooms and public spaces, new supply costs and reopening expenses. The projections were announced today by Mic...
hotelAVE Projects a Five-Year Recovery Period for Hotel Industry Post Coronavirus
hotelAVE | March 19, 2020
Business Recovery Duration Similar to that Following September 11th & The 2008 Financial Crisis PROVIDENCE, R.I., March 19, 2020 -- Hotel Asset Value Enhancement (hotelAVE), the premier hotel asset management company, in a study released today, estimated that it will take the hotel industry in the United States approximately five years to achieve pre COVID-19 occupancies, revenues and profitability. In addition, the hotelAVE COVID-19 Hotel Outlook predicts that the pace of the five-year recovery from the pandemic will be extended after an immediate mini-spike beginning in May or June, as the impact on the travel and hotel industry i...
Revenue Strategy Summit Key Conference Takeaways Shared by hotelAVE
hotelAVE | July 26, 2018
Rethink Sales Deployment: Electronic RFPs continue to grow in volume while group size decreases. Should hotels have reactive vs. proactive sales people to handle this change? Should brands still enforce mandatory responses to all leads as group planners cast wider nets? Should hotels designate a person on the sales team to handle all incoming leads and distribute based on the hotel's needs and likelihood of booking, in other words, a lead catcher? Outlook is Cautiously Positive Despite Forward Group Weakness: In recent past downturns, the industry has had a strong group cushion to mitigate the negative effects in the next downturn. ...
Did You Miss the NYU 2018 Hospitality Conference?
hotelAVE | June 8, 2018
Overall Conference Sentiment Modestly Positive: Driven by upward revisions in near-term RevPAR outlook, consumer confidence (18-year high), plentiful and low-cost debt, and the return of business travel impacted by recent tax cuts. STR increased their 2018 RevPAR growth forecast to 2.9% (from 2.7%), driven primarily by ADR gains and strong transient demand. This marks 98 months of consecutive RevPAR gains. 2019 RevPAR growth forecast remains at 2.4%. Impact of the Tax Reform: Is viewed as the lodging cycle extender. Due to the increase in GDP and corporate travel budgets, business travel is fueling growth. This is quantified in the Top ...
Rockpoint, Highgate & hotelAVE Partner on the Acquisition of The Renaissance Boston Waterfront Hotel
Rockpoint Group | December 3, 2015
NEW YORK-- December 3, 2015 --Rockpoint Group, LLC, Highgate and Hotel Asset Value Enhancement (hotelAVE) announced today that they have agreed to purchase The Renaissance Boston Waterfront Hotel in a joint venture. Highgate and hotelAVE will also assume asset management as part of the sale. Situated in the vibrant Seaport District, The Renaissance Boston Waterfront Hotel occupies a prime waterfront location at 606 Congress Street. The luxury hotel features 471 guestrooms, including a Presidential Suite, 20,000 square feet of meeting space and three food and beverage outlets including M.C. Spiedo Ristorante & Bar, Capiz Bar, and Sta...
The 173-room Renwick Hotel Opens in Midtown Manhattan
Interstate Hotels & Resorts | October 7, 2015
NEW YORK, Oct. 7, 2015 -- The Renwick, a new 173-room hotel, featuring 33 custom suites, located at 118 East 40th Street, officially opens its doors today. Centrally located steps away from Grand Central Station and Midtown Manhattan, the hotel resides in a quaint, brick building with spacious interiors and a rich history of inspiring creative luminaries. The product of a blooming partnership between Interstate Hotels & Resorts, hotel Asset Value Enhancement (hotelAVE), and Meadow Partners, The Renwick delivers a fresh new focus on whimsical luxury with a modernistic approach designed for business travelers and leisure-seekers alike...
Interstate Hotels & hotelAVE to Bring The Gregory to Herald Square in NYC, Spring 2015
Interstate Hotels & Resorts, Inc. | February 18, 2015
NEW YORK – Feb. 18, 2015 – The Gregory, a new 132-room boutique hotel located at 42 West 35th Street in NYC, was announced today for a spring 2015 opening. Steps away from one of Manhattan's most active and prime transportation and retail hubs, The Gregory will offer serenity and hospitality, embrace the creativity of Silicon Alley, and embody the bespoke craftsmanship of the Garment District all in the heart of Herald Square. This is the second collaboration between Interstate Hotels & Resorts, hotel Asset Value Enhancement (hotelAVE), and Meadow Partners, the team behind The Renwick, which is launching this summer at 118th Eas...
