Kimpton San Antonio Celebrates Its Topping Out on Schedule
Kimpton Hotels & Restaurants | July 20, 2023
The Jamul Indian Village Development Corporation Announces New Hotel Expansion to the Jamul Casino
Jamul Indian Village of California (JIV or Tribe) | May 23, 2023
Finance & Development
Owned and Managed by MCR Development, Courtyard by Marriott Dulles Airport Herndon Opens in Herndon, Virginia
Courtyard by Marriott | June 21, 2018
Herndon, VA – June 21, 2018 – Courtyard by Marriott Dulles Airport Herndon is set to open its doors in Herndon, Virginia today. Featuring an innovative lobby space as well as Courtyard's latest contemporary room design, the new hotel provides flexibility and choices that allow guests to optimize and elevate their travel experience. Located at 13715 Sayward Boulevard, the 187-room hotel will operate as a Marriott franchise, owned and managed by MCR Development, LLC of New York, NY. Whether traveling for business or pleasure, the Courtyard Dulles Airport Herndon offers guests convenient access to the Dulles International Airpo...
HVS Design and JN+A Release 2018 Hotel Cost Estimating Guide
HVS | June 21, 2018
HVS Design and Jonathan Nehmer + Associates (JN+A) are proud to announce the completion of the 2018 Hotel Cost Estimating Guide. The Guide is a comprehensive listing of capital expenditure construction and FF&E costs for hotel renovations in the USA. ...
U.S. Project-Based Business Travel Spend Topped $45 Billion in 2017
the Global Business Travel Association | June 20, 2018
ALEXANDRIA, Va.--In 2017, project-based business travel spending reached $45.4 billion USD, comprising 15 percent of all U.S. business travel spending, according to a first-of-its-kind study from the Global Business Travel Association (GBTA), in partnership with InterContinental Hotels Group. In total, 66 million trips were taken last year for project-based purposes, representing 12 percent of all U.S. business trips and 19 percent of all U.S. business trips taken for transient purposes. To be considered project-based travel, the travel must revolve around a project, have both a start and end date, and have a duration of at least four n...
What Do Top Hotel Executives See on the Horizon for 2018?
Jim Butler | June 20, 2018
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 20 June, 2018 Meet the Money® is a productive conference with a casual atmosphere; the executives and other hotel industry representatives who attend often speak candidly about their expectations for hotel finance, development and investment throughout the upcoming year. The short video below highlights how some of our attendees feel about 2018—watch and find out what some of the industry's most well-known brands, banks, consultants, mangers and developers have to say about what's on the horizon. For more in-depth data and resea...
Hawkeye Hotels Set to Break Ground on Marriott Moxy in City of Omaha’s Old Market Entertainment District
Hawkeye Hotels | June 20, 2018
OMAHA – This week Iowa-based firm Hawkeye Hotels' plan to develop a new six-story hotel in the heart of the Old Market Entertainment District received final authorization from the Omaha City Council. Branded as Marriott's affordable boutique hotel line, Moxy, the new property will be located at the corner of 12th and Harney Streets. This is the first Nebraska property for Hawkeye Hotels. Several stages of approval began in April when Council members unanimously voted to authorize the Moxy. Hawkeye Hotels has worked with city officials to meet historic preservation standards and stay true to the historic legacy of the area....
The Americas, Asia Pacific and EMEA Are the Top World Regions in the Global Hotel Construction Pipeline
Lodging Econometrics | June 20, 2018
June 20, 2018 – PORTSMOUTH, NH – Lodging Econometrics (LE) has released its global construction pipeline trend report, which compiles the construction pipeline for every country and market in the world, where currently the regions by project count are: The Americas with 6,268 projects/800,298 rooms, Asia Pacific with 4,205 projects/907,867 rooms and EMEA with 2,241 projects/430,837 rooms. The top countries by project count are the United States with 5,255 projects/636,274 rooms and China with 2,481 projects/546,424 rooms. The U.S. accounts for 41% of the projects in the global pipeline while China accounts for 20%, resulting...
7% Year-Over-Year Growth in the Global Construction Pipeline
Lodging Econometrics | June 19, 2018
June 19, 2018 – PORTSMOUTH, NH – The Lodging Econometrics (LE) global construction pipeline trend report, which compiles the construction pipeline for every country and market in the world, states that the total pipeline stands at 12,714 projects/2,139,002 rooms, up 7% by projects year-over-year (YOY). There are 5,952 projects/1,115,288 rooms under construction, up 8% by projects YOY. Projects scheduled to start construction in the next 12 months, at 3,988 projects/584,433 rooms, are up 6% while projects in early planning at 2,774 projects/439,281 rooms are up 5% YOY. The leading 5 franchise companies in the global construct...
Rainmaker Continues to Expand Global Footprint
Rainmaker | June 19, 2018
Company acquires several key hospitality customers in international markets ALPHARETTA, GA. — June 19, 2018 —The Rainmaker Group (Rainmaker), a leading provider of cloud-based hospitality revenue and profit optimization software, is excited to announce the continued expansion of their global presence by adding four new countries to their catalog of customers. Over the last few months, Rainmaker has added customers in four countries: New Zealand, St Maarten, Suriname, and Singapore. The acquired properties span three different property types: gaming, resort, and all-inclusive. The rapid growth of their customer base into glo...
LaSalle Hotel Properties Board of Trustees Reaffirms Support for Blackstone Transaction
LaSalle Hotel Properties | June 18, 2018
BETHESDA, Md.--Jun. 18, 2018 -- LaSalle Hotel Properties (NYSE:LHO) ("LaSalle" or the "Company") today announced that its Board of Trustees (the "Board") has determined that the proposal from Pebblebrook Hotel Trust (NYSE:PEB) ("Pebblebrook") received on June 11, 2018 to acquire the Company (the "Pebblebrook Proposal") does not constitute, and could not reasonably be expected to lead to, a "Superior Proposal" as defined in LaSalle's definitive agreement with affiliates of Blackstone Real Estate Partners VIII (the "Blackstone Merger Agreement"). Under the terms of the Blackstone Merger Agreement, which the Company entered into on May 20,...
Construction Pipeline Growth in China and Its Major Cities Shows Marginal Growth Up 2% Year-Over-Year
Lodging Econometrics | June 18, 2018
June 18, 2018 – PORTSMOUTH, NH – Analysts at Lodging Econometrics (LE) report that according to the recent China Construction Pipeline, the Total Pipeline has 2,481 Projects/546,424 Rooms, up 2% Year-Over-Year (YOY). There are 1,725 Projects/368,927 Rooms Under Construction, up less than 1% by projects YOY. Projects Scheduled to Start Construction in the Next 12 Months are at 410 Projects/86,995 Rooms, up 27% by project YOY, while projects in Early Planning at 346 Projects/90,502 Rooms are down 13%. Cities in China with the largest pipelines are: Shanghai with 129 Projects/25,750 Rooms, Guangzhou with 106 Projects/25,481 Roo...
OTO Wins Hilton Developer of the Year Award—for 2nd Consecutive Year
OTO Development | June 18, 2018
South Carolina-based hospitality company earns national honor OTO Development has been named Hilton Developer of the Year in the Focused Service category -- for the second consecutive year. The 2017 award was announced earlier this month during the NYU International Hospitality Conference. OTO Development, part of The Johnson Group, earned this national recognition for a Hampton Inn & Suites by Hilton in Santa Monica, California -- a city that hadn't seen a new select-service hotel in nearly 30 years. The innovative project showcases OTO's ability to bring top-shelf quality and design into high-barrier-to-entry markets; inde...
Hotel Equities Names Industry Veteran, Cesar Wurm, VP of Sales and Marketing
Hotel Equities | June 18, 2018
ATLANTA, GA – June 18, 2018 – Atlanta-based Hotel Equities (HE) elevates their sales and marketing division with the appointment of industry veteran Cesar Wurm as VP of Sales and Marketing. In his new role, Cesar will lead HE's enterprise-wide strategic sales effort while supporting the regional sales team and driving best-in-class performance results. The award-winning hotel ownership and management company continues to elevate talent and focus on driving results for key stakeholders. Last month, the firm announced the addition of two regional directors of sales and plans for two additional regional offices to support their...
Hospitality Financial Leadership: The Busy Hotel Executive
David Lund | June 18, 2018
By David Lund Coaching people around the financials in hotels is what I do. I accomplish this by one-on-one coaching, usually on the phone or through Skype, or in workshops where as a group we explore and debunk the mystery around the numbers. Many people are fond of saying the numbers are the hard part of hospitality. That's not true. What is true is we do not exercise these muscles. We do not even know we have a financial muscle in many cases. This story is about one of those people and how I was able to help her. Names and places are changed to keep anonymity. Tina emailed me with a somewhat cryptic and erratic message that almo...
HFTP Announces Entrepreneur 20X Sponsorship Agreement With Amadeus at HITEC Houston
Amadeus | June 15, 2018
E20X Houston will take place Monday, June 18, 2018 starting at 1:00 p.m. at HITEC Houston Hospitality Financial and Technology Professionals (HFTP®), producers of Hospitality Industry Technology Exposition and Conference (HITEC®), is pleased to announce its Entrepreneur 20X (E20X) sponsorship agreement with Amadeus for HITEC Houston. The successful E20X pitch competition, featuring hospitality technology startups, will take place at HITEC Houston in the afternoon on June 18, 2018. HITEC Houston will take place from June 18-21, 2018 at the George R. Brown Convention Center in Houston, Texas USA. HFTP's Entrepreneur 20X progra...
Paramount Lodging Advisors Team Sells Hampton Inn in Victoria, TX
Paramount Lodging Advisors | June 14, 2018
Victoria, TX—Paramount Lodging Advisors (PLA) has arranged the sale of the Hampton Inn Victoria, TX. Managing Director Kami Burnette and Senior Associate Hussain Waseem sold the property via the Real Insight Marketplace platform. The 68-room hotel is located just north of downtown Victoria and is proximate to all broader area Victoria demand. Future plans under new ownership include a significant renovation to meet Hampton's Forever Young standard. "The increasing commodities pricing is stabilizing the region and have presented a profitable opportunity for the new owner to add a premium brand to his hotel portfolio," stat...
HITEC Houston Tuesday General Session Announced: “Technology and the Power of the C-Suite”
HFTP | June 14, 2018
AUSTIN, TEXAS, USA (June 14, 2018) — Hospitality Financial and Technology Professionals (HFTP®) added a new general session – "Technology and the Power of the C-Suite" – to the HITEC Houston education program. The session features C-level hospitality executives from brands, ownership groups and technology companies who will debate the future of emerging technology trends, funding for IT development and the nature of competition in a digital marketplace. The general session will take place from 8:30 to 10:00 a.m. on Tuesday, June 19, 2018. Immediately before the session, Tammy Farley and Jing Zhu will be inducted in...
The Rainmaker Group Partners with Torarica Group of Hotels
the Torarica Group | June 14, 2018
Company to Implement Rainmaker's Industry-Leading Revenue Optimization Solutions at All Three Properties ALPHARETTA, GA. — June 14, 2018 —The Rainmaker Group (Rainmaker), a leading provider of cloud-based hospitality revenue and profit optimization software, today announced that the Torarica Group has selected Rainmaker's guestrev®, revintel® and revcaster® solutions to drive revenue at all three of their Suriname properties: Torarica Hotel & Casino, Eco Resort, and Royal Torarica Hotel. The company was looking for a set of tools to help them formalize their revenue management processes and become more sophis...
Owned by The Javelin Group and Managed by Aimbridge Hospitality, Canopy by Hilton Dallas Uptown Set to Open in Texas
Canopy by Hilton | June 14, 2018
DALLAS, Texas and MCLEAN, Va. (June 14, 2018) – Today, Canopy by Hilton, Hilton's (NYSE: HLT) lifestyle hotel brand, revealed the first look inside the brand's newest Texas property, Canopy by Hilton Dallas Uptown. Scheduled to open in late June 2018, Canopy by Hilton Dallas Uptown's 150 "Just Right" rooms will offer a modern hotel experience in Dallas' most walkable district featuring more than 100 shops, restaurants and entertainment. With Canopy by Hilton's emphasis on neighborhood offerings and thoughtfully local choices, Canopy by Hilton Dallas Uptown will tell the story of the Uptown district throughout the hotel including a...
Marriott, AccorHotels and IHG Top Asia Pacific Construction Pipeline, Excluding China
Lodging Econometrics | June 14, 2018
June 14, 2018 – PORTSMOUTH, NH – According to the most recent Asia Pacific Construction Pipeline Trend Report from Lodging Econometrics, the top global hotel companies in the Asia Pacific Construction Pipeline, excluding China, are: Marriott International with 204 Projects/48,003 Rooms, AccorHotels with 215 Projects/45,086 Rooms, InterContinental Hotels Group (IHG) with 122 Projects/28,186 Rooms, Hilton Worldwide with 82 Projects/17,750, and Best Western with 34 Projects/6,146 Rooms. The largest brand in the Pipeline for each of these companies is: Marriott's Sheraton Hotel with 29 Projects/7,069 Rooms, Accor's Ibi...
Hotel Capital Acquires The Tremont Chicago Hotel at Magnificent Mile and Mike Ditka’s Restaurant
Hotel Capital, LLC | June 13, 2018
Hotel Capital LLC, a private equity real estate investment firm, is excited to announce a direct equity investment and acquisition of The Tremont Chicago Hotel at Magnificent Mile located in Chicago, Illinois. The Tremont Chicago Hotel and Mike Ditka's Steakhouse was acquired by Hotel Capital from seller Marriott International, Inc. The Tremont Chicago Hotel is a 16-story, 122-room, boutique hotel and is located in the heart of the Gold Coast between the world-renowned Magnificent Mile and Rush Street. The hotel will retain The Tremont name and undergo a multi-million dollar renovation which will include upgrades to the lobby, all new g...
Stonebridge Companies Set to Open Courtyard by Marriott Denver Airport at Gateway Park
Courtyard by Marriott | June 13, 2018
DENVER – June 13, 2018 – Courtyard by Marriott Denver Airport at Gateway Park is scheduled to open its doors on Tuesday, June 19, 2018. Featuring an innovative lobby space as well as Courtyard's latest contemporary room design, the new hotel provides flexibility and choices that allow guests to optimize and elevate their travel experience. Located at 4343 Airport Way, the 192-room hotel will operate as a Marriott franchise, owned and managed by Stonebridge Companies of Denver, Colorado. Whether traveling for business or pleasure, the Courtyard Denver Airport at Gateway Park offers guests convenient access to Denver Internati...
Virtua Partners and Hotel Equities Break Ground on Fairfield Inn & Suites in Tolleson, Arizona
Virtua Partners | June 13, 2018
PHOENIX, June 13, 2018 -- Virtua Partners and co-developer Hotel Equities celebrated the groundbreaking of a 116 room Fairfield Inn & Suites in Tolleson (West Phoenix), Arizona. The Marriott flagged hotel is scheduled to open late Summer 2019. The hotel is part of a mixed-use site that Virtua is developing at the corner of 91st Avenue and McDowell, fronting the I-10 freeway. Tofel Dent Construction is the general contractor for the project. Virtua Partners Co-Founder Quinn Palomino, and Mayor of Tolleson, Anna Tovar, welcomed distinguished members from the Tolleson City Council, Marriott International, local media, partnering compan...
Asia Pacific’s Top Countries and Cities for Hotel Construction Excluding China
Lodging Econometrics | June 13, 2018
June 13, 2018 – PORTSMOUTH, NH – According to analysts at Lodging Econometrics (LE), the top countries in the Asia Pacific Construction Pipeline, excluding China, by project count are: Indonesia with 394 Projects/66,154 Rooms, Japan with 228 Projects/46,356 Rooms, India with 206 Projects/33,501 Rooms, Malaysia with 137 Projects/36,244 Rooms and Thailand with 134 Projects/31,964 Rooms. Cities with the largest pipelines by project count are: Jakarta, Indonesia with 101 Projects/19,010 Rooms; Seoul, South Korea with 80 Projects/15,738 Rooms; Tokyo, Japan with 73 Projects/16,885 Rooms; Kuala Lumpur, Malaysia with 58 Pr...
Pinnacle Hotel Management Integrates Accounting, Budgeting/Forecasting and Business Intelligence to Support Growth
Pinnacle | June 13, 2018
At HITEC in Houston Visit Aptech in Booth # 1519 JUNE 18-21, 2018 George R. Brown Convention Center 24-Property Pinnacle Automates Data Gathering and Input from Multiple Flag PMSes; Daily Revenue vs Expense Trends Deliver 'Ah Ha' Moments for Management June 13, 2018 – Monica Nichols, Director of Finance for Pinnacle Hotels says, "After 14 years in the hotel industry I have seen an incredible evolution in the hospitality business intelligence we utilize. Transitioning from basic financial statements to much more detailed variance and analytical reports has had a very positive influence on how Pinnacle manages and operates its prope...
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