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hotels

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...

The One Thing You Can Control With TripAdvisor Reviews

ALICE | October 12, 2016

The influence of reviews on traveler's booking behaviors is well established. Some 95% of travelers consult reviews before making a purchase. And data from TripAdvisor reveals almost all of their visitors consult some 6-12 reviews before purchasing a trip. Review sites' direct impact on a hotel's bottom line has also been well documented. One recent study by Cornell University found that if a hotel increased its review score by 1 point on a 5-point scale, it could increase its prices by 11.2 percent without sacrificing occupancy or market share. TripAdvisor is the undisputed king when it comes to online hotel reviews. The site reaches o...

5 Ways for Hotels to Counter Growing Pressure from Review Sites, the Sharing Economy and the Expanding Technology Stack

ALICE | September 27, 2016

Hotels are under increasing pressure to evolve. Review sites, the sharing economy, and even the rise of dedicated hotel technology are making adaptability a hotel's most valuable asset. Here's five ways hotels can respond. With TripAdvisor's growing impact on bookings, hotels are under a microscope like never before Guests are evaluating and sharing service observations publicly, divulging insights that previously lived anonymously in the hotel's review systems and on paper rating cards. Because some 80% of guests consult 6-12 TripAdvisor reviews before booking, these ratings now have a direct bearing on ADR. Previously, a hotel's marke...

What if Airbnb Built a Hotel?

ALICE | August 4, 2016

What if Airbnb built a hotel? Ian Schrager said on stage at this year's BLLA conference that, in some ways, Airbnb is the boutique hotel of one. So, what if Airbnb became the boutique hotel of many? If Airbnb builds a hotel they will leverage their platform to provide accommodations and services more uniquely tailored to guests and with much greater cost efficiency. What might that look like…? 100% Direct Booking... In the case of most hotels there is no significant advantage for the traveler to book direct, rather than through an OTA, and hotels have lost customer loyalty and revenue as a result. However, just as Airbnb now fac...

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