Development

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Development

Hotel Equities Selected to Manage the 161-room Island House Hotel in Orange Beach, Alabama

Hotel Equities | May 22, 2014

ATLANTA (May 22, 2014) - Hotel Equities was retained to manage sales and revenue services at the Island House Hotel, a beach front, full service, boutique property with 161 rooms. Overlooking sugar sand and the turquoise Gulf, the hotel stands in the heart of Orange Beach's finest golf, fishing, restaurant and shopping. Located just a short drive from the Pensacola International and Mobile Regional Airports, The Island House Hotel is conveniently accessible. "We are delighted to bring our management expertise to this well-appointed full service beach front property," said Joe Reardon, Vice President of Marketing and Development for Hote...

Dennis Meroney Joins Hotel Equities as Chief Investment Officer

Hotel Equities (HE) | April 28, 2014

Atlanta, GA - April 28, 2014 - Hotel Equities (HE), an Atlanta-based hotel management, ownership and development company, has recently appointed Dennis Meroney as its new Chief Investment Officer. Meroney, a 25-year veteran of the financial industry, has served on the Hotel Equities Board of Directors since 2007. As CIO, Meroney will join HE's day-to-day operation and assume the responsibility for financial planning, strategic fund raising and working with existing ownership groups on financial options. "I'm not only excited about Hotel Equities' owned assets but the fund raising of our second fund as well," said Meroney. "I look forwar...

Lodging Econometrics Reports Construction Pipeline Declines Further in Europe and the Middle East

Lodging Econometrics | April 8, 2014

In Europe, the total Construction Pipeline at year-end 2013 stood at 734 projects/126,249 rooms, down 5% and 1% respectively from year-end 2012. Pipeline growth has been sluggish as widespread austerity measures have slowed the region's overall economic recovery. Many countries reported, however, that 4th Quarter economic activity was the highest in three years. The economic recovery still remains fragile. Europe will need to make even further adjustments to mitigate new financial headwinds caused by the US Federal Reserve's tempering of its quantitative easing program and the economic uneasiness caused by Russia's expansionary forays ...

Hotel Equities Expands Portfolio in Texas and Florida with Management of Two Wyndham Branded Hotels

Hotel Equities (HE) | April 8, 2014

Atlanta, GA - April 8, 2014 - Atlanta-based Hotel Equities (www.hotelequities.com) recently announced its selection to manage two Wyndham branded hotels, one property on International Drive in Orlando, Florida and a brand new hotel in Southwest Texas. The firm's eleventh management contract in Florida marks its first in the booming Orlando market. For its entry into the state of Texas, the firm was tapped for a new-build property set to open later this month. "We are thrilled to add our first hotel in the state of Texas," said Joe Reardon, Vice President of Business Development for HE. "Cotulla and LaSalle County are the site of one of ...

A.F.N.S. Condado Investment & IHG Open First Holiday Inn Express in San Juan, Puerto Rico

April 4, 2014

MIAMI--InterContinental Hotels Group (IHG) (LON:IHG) (NYSE:IHG) (ADRs), today announced the opening of the first Holiday Inn Express® hotel in the Condado district of San Juan, Puerto Rico. This 115 room hotel opening brings IHG's hotels in Puerto Rico to four including the recently renovated InterContinental® San Juan, Holiday Inn® Mayaguez & Tropical Casino and the Holiday Inn® Ponce & Tropical Casino hotels. With hotels situated in almost every key market throughout the region, IHG has over 80 hotels in Central America, South America and the Caribbean. "Holiday Inn Express is one of the fastest-growing hotel brands in the...

SKS Group & Hilton Enter Agreement to Expand DoubleTree by Hilton Portfolio in Australasia

DoubleTree By Hilton | April 2, 2014

Sign a Multi-unit Management Agreement PERTH, Western Australia and MCLEAN, Va. - Hilton Worldwide has signed a multi-unit management agreement with SKS Group to manage two hotels, located in Perth and Fremantle, Western Australia. The hotels will be branded DoubleTree by Hilton and will join Hilton Worldwide's existing portfolio of 20 hotels in Australasia. DoubleTree by Hilton Perth Waterfront will be located at 351 Riverside Drive, Perth adjoining Barrack Square and fronting the Swan River. The 241-room hotel will boast stunning panoramic views of the Swan River and will include a restaurant, bar, executive lounge, business centre, g...

IHG and Maplewood Hotels & Resorts to Develop 15 Candlewood Suites® Hotels in Canada

Driftwood Hospitality Management | April 2, 2014

Maplewood to Begin Canadian Development in 2014 Bedford, Nova Scotia – InterContinental Hotels Group (IHG) [LON: IHG, NYSE: IHG (ADRs)] and Maplewood Hotels & Resorts today announced plans to develop 15 new-build Candlewood Suites® properties in target markets throughout Canada over the next few years. Formed in 2013, Maplewood is a joint venture between Driftwood Hospitality Management and Pacrim Hospitality Services Inc. "Driftwood is eager to continue our expansion in Canada through our strategic partnership with Pacrim," said Carlos Rodriguez, EVP for Driftwood. "We're also keen on strengthening our relationship with IHG, whi...

IHG Along with Nine Hospitality & Sanguine Hospitality to Add Hotel Indigo & Holiday Inn in London

IHG | April 1, 2014

InterContinental Hotels Group (IHG®), one of the world's largest hotel companies today announced the signing of two further hotels in London with the Hotel Indigo® London - Barbican and Holiday Inn® - Watford Junction. As a result, over the last nine months IHG signed all six of its current European brands into its Greater London pipeline, further reinforcing IHG's presence in the UK's capital. The two new signings join the InterContinental® London - The O2, Crowne Plaza® London - Albert Embankment, Staybridge Suites® London - Vauxhall and Holiday Inn Express® London – Ealing. Due to open this summer, Holiday Inn Watford Juncti...

IHG Completes Disposal of an 80% Interest in InterContinental New York Barclay

IHG | April 1, 2014

InterContinental Hotels Group PLC (IHG) [LON:IHG, NYSE:IHG (ADRs)] announces the completion of the acquisition by Constellation Barclay Holding US, LLC, of an 80% interest in a joint venture with IHG to own and refurbish InterContinental New York Barclay. IHG will continue to manage the hotel under a long-term management contract. The terms of the transaction were announced on 19 December 2013. Since then, the joint venture has raised external debt, following which IHG has received total gross disposal proceeds in cash of $274m. ...

Harmony Hospitality & Hilton Open the 250-room DoubleTree by Hilton Norfolk Airport

DoubleTree By Hilton | March 31, 2014

NORFOLK, Va. and MCLEAN, Va. - DoubleTree by Hilton and Hilton Worldwide today announced the opening of DoubleTree by Hilton Norfolk Airport, a 250-room hotel just two miles from Norfolk International Airport in Virginia's busy Hampton Roads region. The hotel, formerly the Hilton Norfolk Airport, is ideally located between Williamsburg and the Virginia Beach oceanfront and is convenient to several key Fortune 500 businesses, leisure destinations including Norfolk Botanical Gardens and Virginia Zoological Park, and Naval Station Norfolk, the largest naval base in the world. The hotel remains within the Hilton Worldwide portfolio and unde...

Bern Hotels & Resorts & IHG to Build New 126-room Crowne Plaza Panama Airport Hotel in Panama

March 31, 2014

MIAMI – InterContinental Hotels Group (IHG) [LON:IHG, NYSE:IHG (ADRs)], one of the world's leading global hotel companies, today announced the latest addition to the growing Crowne Plaza® Hotels & Resorts portfolio with the signing of the Crowne Plaza Panama Airport hotel. The new-build, 126-room hotel is expected to open in February 2015 and will be the second Crowne Plaza hotel in Panama. Located conveniently near Tocumen International Airport, the Crowne Plaza Panama Airport hotel will be part of the Global Business Terminal, a 520,000 square foot modern complex with eight office towers, an exhibition hall, a conference center...

IHG & Amadeus Form Strategic Relationship On Development of Consumer Technology

IHG (InterContinental Hotels Group | March 31, 2014

Rapidly evolving consumer technology shaping how guests plan and experience travel March 31, 2014 - IHG (InterContinental Hotels Group) is building on its long track record of industry-leading insight and innovation with the announcement of a strategic relationship with Amadeus, the leading provider of advanced technology solutions for the global travel industry. Consumer technology has become an increasingly important part of being able to anticipate and meet changing consumer needs and IHG is committed to maintaining its industry-leading position in this area. The combination of IHG's industry insight and expertise with Amadeus' techn...

IHG Completes the Sale of InterContinental Mark Hopkins San Franciso to Woodridge Capital

IHG | March 28, 2014

InterContinental Hotels Group PLC (IHG) [LON:IHG, NYSE:IHG (ADRs)] today announces that it has completed the sale of InterContinental Mark Hopkins San Francisco ("the Hotel") to a joint venture between affiliates of Woodridge Capital Partners and funds managed by Oaktree Capital Management L.P., the terms of which were announced on 18 February 2014. $120m gross disposal proceeds have been received in cash. IHG will continue to manage the Hotel under a long-term management contract. ...

IHG Reveals New Holiday Inn Express Prototype Design Co-Created With Hotel Owners

March 27, 2014

Guest Insights assist in creation of enhanced design to meet guests' changing needs and drives value for owners ATLANTA, March 27, 2014 -- Through guest and hotel owner insights, InterContinental Hotels Group (IHG) [LON:IHG, NYSE:IHG (ADRs)], one of the world's leading global hotel companies, today announced the next evolution of the prototype for its Holiday Inn Express® brand. Developed for the brand's portfolio of hotels in the U.S. and Canada, the updated prototype design is designed to further position the Holiday Inn Express brand as the "smart" choice for guests and owners. This next generation prototype is expected to deliver e...

Hotel Equities Enters Franchise Agreement to Develop a New Build $52 M Residence Inn by Marriott

Hotel Equities | March 26, 2014

Atlanta, GA-March 26, 2014-Hotel Equities (www.hotelequities.com), an Atlanta-based hotel management, ownership and development company, kicked off the celebration of its 25th anniversary year with the execution of a Marriott franchise agreement to develop a new construction $52 million custom-built Residence Inn by Marriott in Miami Beach/Surfside, Florida. "Building a ground-up, resort-style hotel in this coveted Miami Beach location with a Marriott Residence Inn franchise marks a high point in our firm's history," said Fred Cerrone, founder, President and CEO of Hotel Equities. "This deal helps define our award-winning, growth-focuse...

Hotel Equities Selected to Manage SpringHill Suites by Marriott in Pensacola Beach, Florida

Hotel Equities (HE) | March 11, 2014

Atlanta, GA - March 11, 2014 - Atlanta-based Hotel Equities (www.hotelequities.com) has been selected to manage the 117-room SpringHill Suites Pensacola Beach at 24 Via de Luna Drive in Pensacola Beach, Florida. Positioned as a "resort style" hotel, the SpringHill Suites sits directly on the white sand beaches of Pensacola, touched by the blue waters of the Gulf of Mexico. Truly a flagship for the Springhill Suites brand, the hotel stands as an iconic spot on Pensacola Beach in Florida. The five-story SpringHill Suites hotel is convenient to the area's popular dining, shopping and tourist attractions. Quietwater Boardwalk, a popular bea...

Flip.to Gives a Big Boost to dana hotel and spa’s Total Web Traffic

Fairfield Inn & Suites by Marriott | March 6, 2014

Orlando, FL — March 7, 2014 — In the first two months of going live with Flip.to, the brand advocate platform for hotels, the web traffic for the dana hotel and spa has grown a full 10% year over year. This new traffic consists of friends, relatives & colleagues of current guests directed to the hotel's website to learn more about the hotel and earn an incentive towards a future stay. Liana Clark, Director of Sales and Marketing for the dana, added, "Our hotel has a well established web presence yet we are always looking for inventive ways to drive exposure for our website. Flip.to provides that with a twist. The new lookers are...

Hotel Equities to Manage the 107-room Home2 Suites by Hilton to be Built in St. Louis, Missouri

Hotel Equities (HE) | February 28, 2014

Atlanta, GA - March 4, 2014 - Atlanta-based Hotel Equities (www.hotelequities.com) has been selected to manage the 107-room Home2 Suites by Hilton hotel in St. Louis, Missouri. The Above All Development group of St. Louis, Missouri will develop the property in the Forest Park Southeast neighborhood. Principals of the Above All Development group include Stan McCurdy, Bryan Aston, Jeff McCurdy and Tom Behle. The property is set to break ground in May 2014 and open in 2015. Hotel Equities will partner in a supportive role during the construction phase and take over hotel operations during the pre-opening stage. This marks Hotel Equities' s...

The 75-key Fairfield Inn & Suites by Marriott is Set to Open in Gainesville, Georgia

Fairfield Inn & Suites | February 24, 2014

Owned by DUS Hospitality and Managed by Hotel Equities Gainesville, Georgia - February 24, 2014 - The 75-suite Fairfield Inn & Suites by Marriott in Gainesville, Georgia is scheduled to open on Friday, February 28, 2014. Located at 1755 Browns Bridge Road, the Fairfield Inn & Suites Gainesville will operate as a Marriott franchise, owned by DUS Hospitality and managed by Hotel Equities of Atlanta, Georgia. Whether traveling for business or pleasure, the Fairfield Inn & Suites Gainesville offers guests convenient access to Main Street Gainesville, Lake Lanier Olympic Center and Lake Lanier Islands. Rates begin at $90 per nigh...

Hotel Equities Names Bert Haifley Task Force Manager for Firm’s Portfolio

Hotel Equities (HE) | February 17, 2014

ATLANTA (February 17, 2014) -Atlanta-based Hotel Equities (HE) recently named Bert Haifley to the position of Task Force Manager for the firm's portfolio. As Task Force Manager, Mr. Haifley is available to assist in new transitions and acquisitions for the firm as Hotel Equities continues its strong growth momentum. His responsibilities cover the overall operation of the hotel including hiring, training and all of the metrics required to assure its success. This is an opportunity to continue to hit the ground running day one on all new hotels that come into the portfolio and make a real difference quickly for HE's ownership groups. "Ber...

Hotel Equities Names Drew Salapka Vice President of Sales and Revenue Generation

Hotel Equities | February 12, 2014

ATLANTA (February 12, 2014) - Atlanta-based Hotel Equities (HE) recently named Drew Salapka to the position of Vice President of Sales and Revenue Generation. His responsibilities include leading the sales and revenue generation team which is responsible for the daily inventory and rate management of the firm's hotels. His team analyzes the demand for all markets, evaluates market strengths and weaknesses, and reports key statistics that impact the industry and individual hotels. The team also manages sales processes and directs the ongoing training of all key sales and revenue staff members. "Drew's analytical abilities, business sense...

At Year-End 2013 Total Investment in the Lodging Industry Reached an Estimated 21.8B

Lodging Econometrics | February 10, 2014

The lodging industry reached an estimated total investment of 21.8 billion in 2013. This is the highest level since 2009 and is expected to accelerate higher in 2014 and into late decade. For 2013, 1,171 Hotels were sold or transferred, a decrease of 19% Year-Over-Year (YOY). Previously, Total Transactions and Property Transfers had peaked at 3,218 Hotels/ 441,613 Rooms in 2007, then precipitously fell to a bottom of 528 Hotels/ 60,804 Rooms in 2009, a decrease of 84% by Hotels. After rebounding a bit in 2010 to 1,358 hotels, Transaction volume has since been locked in a bottoming formation with little M&A activity. Of the 1,171 Pr...

USA Winter 2014 US Lodging Real Estate Trends Show Construction Pipeline Spurts to the Upside

Lodging Econometrics | February 10, 2014

Marriott Delivers Big Gains After being locked in a bottoming formation for nine quarters, the Construction Pipeline increased in 2013 to 3,020 Projects/382,958 rooms, a Year-Over-Year (YOY) increase of 10% by projects and 12% by rooms. It's the first YOY double-digit increase since before the recession. The volume bounce from the 2Q11 bottom is significant because it starts the second leg of the new real estate cycle where Pipeline growth is expected to steadily increase as single asset and portfolio selling prices are now at record highs, signaling the point where it will be cheaper to build new hotels than to buy existing ones. The ...

The Plasencia Group Reveals a Fresh Look Following Its 20th Anniversary

The Plasencia Group | February 5, 2014

Tampa, Fla. (February 5, 2014) – Entering its third decade of providing personalized hospitality investment advisory services, The Plasencia Group is introducing a new logo and branding for the firm and its affiliates. The Company has undertaken a number of endeavors as part of the transformation, including the refreshing of the firm's logo, the release of a new company website and the implementation of state-of-the-art Citrix ShareFile Virtual Data Room technology. Founded in 1993 with one office in Tampa, Florida, The Plasencia Group now maintains a national footprint through its regional offices strategically situated throughout th...

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