hotels
COVID-19: Impact on Forward Hotel Bookings in Key European Markets
STR | July 2, 2020
The COVID-19 pandemic has caused unprecedented challenges for global hospitality, with travel restrictions and lockdown measures forcing hotel closures and performance declines that exceed the levels witnessed during the global financial crisis and other challenging times for the industry. An area of the industry where the impact continues to evolve is business on the books, or reservations booked for future dates. To provide a forward-looking view of the COVID-19 impact on hotel performance, STR utilized data from Forward STAR to analyze business on the books for key European hotel markets Forward STAR data is processed on a ...
Benchmarking Can Help Restructure Debt, Avoid Closures
STR | July 2, 2020
During a recent webinar on the impacts of COVID-19 on European hotels, STR Managing Director Robin Rossmann drew on his experience at Deloitte and shared with viewers an important practical application of benchmarking. No hotel has escaped the COVID-19 pandemic unscathed, which may make performance benchmarking appear less important. Rossmann warned against such complacency, reminding listeners, “that day will come” when lenders and lessors undertake restructuring analyses. When that happens, benchmarking will be more important than ever. Downturns cause financial distress Downturns of any nature can cause hotels or hot...
Three Steps to Curating Your Hotel’s Social Influencer Strategy
NextGuest | October 17, 2019
Travel influencers are having a moment. With the ability to showcase stunning photography and lesser-known parts of the world, social media is the perfect platform for avid travelers to gain a following. This provides the perfect opportunity for hotel brands to partner with influencers and tap into those audiences in order to reach ideal guests. Don’t know where to start? Read on to learn our three steps for getting your influencer strategy in place. Identify The first step for your hotel is to find the influencers that you want to work with. A great place to start is on Instagram or YouTube. Search relevant hashtags ...
Paramount Lodging Advisors Sells Ocean Front Gold Beach Inn, Ireland’s Rustic Lodges & RV Park and Ireland’s Commercial Income Property in OR
Paramount Lodging Advisors | January 31, 2019
Paramount Lodging Advisors (PLA) has successfully executed the transaction of the Ocean Front Gold Beach Inn, Ireland's Rustic Lodges & RV Park and Ireland's Commercial Income property in Gold Beach, OR. Senior Managing Director Scott Griemsmann and Senior Associate Subu Thiagarajan represented the seller in the sale. This transaction presented the buyer a unique opportunity to acquire two independent hotels, an RV Park, and commercial rental units on several acres between the Pacific Ocean and coastal Highway 101. Upon completion of a property improvement plan (PIP), upgrading technology, and implementation of professional manageme...
What Hotels Can Learn From the Airbnb CEO’s Twitter Exchange about What Guests Want
ALICE | January 11, 2017
When Airbnb's CEO asked his Twitter community for their Airbnb product wish list, what he got was a comprehensive look at what guests want from lodging today. by Alex Shashou When Airbnb CEO Brian Chesky asked his Twitter followers for Airbnb product recommendations in the late hours of Christmas day, Chesky said he expected about 10 people to respond. Instead, some 2,200 people offered their suggestions, with product recommendations still coming in. Chesky spent the rest of the 25th, and then many hours on subsequent days, responding to input from users. The Airbnb CEO facilitated a wide-ranging conversation about short and longer-ter...
Paramount Lodging Advisors (PLA) Thrives in the Pittsburgh Area Market
Paramount Lodging Advisors | December 22, 2016
Paramount Lodging Advisors (PLA) is pleased to announce the sale of the SpringHill Suites Pittsburgh West Mifflin and Comfort Inn & Suites Pittsburgh RIDC. PLA exclusively represented the seller on both deals with Associate Omari Head and Managing Directors Brent Clemens and Bennett Webster leading the efforts on the nearly 320 combined rooms across the two assets. The two deals mark PLA's fourth and fifth consecutive successful engagements in the Pittsburgh area in 2016. "Despite a slight dip in area performance, we were pleasantly surprised with the buyer turnout and remain bullish on broader Pittsburgh area demand," noted Head. C...
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 ...
Bedrooms to Showrooms: Blurring the Boundaries Between Hotels and Retail
JLL Real Views | October 17, 2016
By Kelsey Burgess Ever stayed in a hotel room where the mattress is so comfortable you wished you could take it home? It's a concept that retailer West Elm is exploring with its new chain of boutique hotels all kitted out with the brand's bedroom furniture ranges, light fixtures and linen along with locally commissioned artwork to give each room an individual touch. And while there won't be price tags hanging from the handles, guests will be able to buy any furnishings that catch their eye through the company's website or app, enabling them to bring the best of their travel experience into their home environments. For West Elm, which pl...
