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
Hospitality Financial Leadership – Is Your Hotel Culture Blame or Appreciation?
David Lund | February 19, 2018
By David Lund In my career, I have seen both. Lots of appreciation for hard work and a challenging workplace. On the flip side a horror story of the blame for "mistakes" and lack of preparedness. Blame is the easy one to master. Management by embarrassment as I like to refer to it. One of my past hotels was a classic blame game hotel. After a much-publicized error or screw up or service interruption the GM would warmly ask, "Where is my victim?" or state, "Bring me the victim." What usually followed was paramount to a public flogging. Everyone got their turn and the others would just watch in stunned disbelief only being thankful that i...
The Ayre Group and the Government of Antigua to Develop New Luxury Resort on Valley Church Beach Funded in Whole with Bitcoin Cash (BCH) Profits
| February 19, 2018
A new and unique five star resort in Antigua was announced by the Ayre Group today. The development is located on the Valley Church beach and design work is already underway, with works scheduled to commence on site in late summer of 2018. The construction cost of the resort is expected to be in excess of USD $100m and will be entirely funded by profits made through the appreciation of Bitcoin Cash (BCH). The announcement was made by His Excellency Calvin Ayre, the Chairman of The Ayre Group, who also acts as Special Economic Envoy for the Government of Antigua and Barbuda. Hon. Ayre warmly thanked the Prime Minister, The Hon. Gaston Br...
Hotel Equities Promotes Becky Aleman to Regional Director of Operations
Hotel Equities | February 19, 2018
ATLANTA, GA (February 19, 2018) – Atlanta-based Hotel Equities (HE) recently promoted Becky Aleman to the position of Regional Director of Operations. Ms. Aleman has oversight of all above-property operations for a group of hotels managed by Hotel Equities. Based in Virginia, she most recently served as the General Manager of the Fairfield Inn & Suites by Marriott Lynchburg. With more than 16 years of hospitality industry experience, Ms. Aleman began her hospitality career as the Sales Manager at the TownePlace Suites by Marriott in Yorktown, Virginia and soon earned the post of Assistant General Manager at Courtyard by Marrio...
Hotel Transactions in India: What Will Move the Needle?
Hotelivate Private Limited | February 16, 2018
Hotel Transactions Earlier this year, two portfolio deals shaped the hotel transactions market of India with a consolidated transaction value of approximately US$85 million. This is no mean feat for a country where buying or selling of hotel assets has historically been as rare as sighting a snow leopard! Sarovar Hotel Group's acquisition by Louvre Hotels Group was primarily a non-asset deal aimed at gaining the scale and distribution of a management vehicle, with management income from over 70 hotels. In addition, Whitbread PLC from the UK exited India and sold their hotel real estate of five assets. However, other than these, the tran...
Rainmaker Executives Featured at Hotel Revenue Conference 2018
Rainmaker | February 15, 2018
Presentation to focus on optimizing group business for higher conversion rates and increased revenue ALPHARETTA, GA – Feb. 15, 2018 – The Rainmaker Group (Rainmaker), a leading provider of cloud-based hospitality revenue and profit optimization software, announced today that Amy Forss, senior sales director, and Mike Pavicich, director of hospitality sales, will be featured speakers at the Hotel Revenue Conference 2018. The conference will be held Feb. 21-22 at the Fairmont Olympic Hotel in Seattle. Rainmaker is a gold-level sponsor of the event. Forss and Pavicich will speak on optimizing group business for higher conversio...
How Amazon Go ‘No Checkout’ Stores Will Influence the Future of the Hospitality & Travel Industry
Alan E. Young | February 14, 2018
By Alan E. Young Our world is endlessly transformative, with a wealth of technological innovations and advances coming to life and capturing large-scale societal attention on what feels like a weekly basis. Self-driving cars, cryptocurrency, artificial intelligence — the future seems to be arriving faster than some of us have a chance to take a breath. At the heart of most revolutionary technology exists the progressive desire for increased convenience and efficiency as it applies to our day-to-day lives, businesses and more. Staying true to this trend, Amazon Go recently opened a grocery store like we've never experienced (but pr...
Latin America’s Construction Pipeline Stalling With Pojects Down 5% YOY
Lodging Econometrics | February 14, 2018
February 14, 2018 – PORTSMOUTH, NH The Total Construction Pipeline in Latin America has 831 Projects/142,084 Rooms, down 5% by projects Year-Over-Year (YOY). There are 374 Projects/67,130 Rooms Under Construction, down 9% by projects YOY. Projects Scheduled to Start Construction in the Next 12 Months are at 208 Projects/31,614 Rooms, up 23%, while those in Early Planning are at 249 Projects/43,340 Rooms, down 16% YOY. The top hotel companies in Latin America's Construction Pipeline by projects are: AccorHotels with 136 Projects/19,729 Rooms, Marriott International with 99 Projects/16,054 Rooms and Hilton Worldwide with 70 Projects...
Hilton Signs with Gulf-Egypt for Hotels & Tourism to Operate Heliopolis Hotel & Towers as Hilton Cairo Heliopolis and Soon-to-Be Waldorf Astoria in Af
Hilton | February 14, 2018
CAIRO, Egypt, February 14, 2018 -- Hilton (NYSE:HLT) continues its growth and development in Egypt, 60 years after first entering the country, with the opening of the Hilton Cairo Heliopolis. The leading global hospitality company has also confirmed plans for the debut of its luxury brand Waldorf Astoria in Egypt later this year – once rebranded, this will be the company's first Waldorf Astoria hotel in Africa, staking ground for Hilton as a luxury operator in the region. Hilton has signed two management agreements with Gulf-Egypt for Hotels & Tourism (S.A.E) to operate Heliopolis Hotel & Towers Luxury Hotel under two dist...
Hilton and Zagreb City Hotels Developing Canopy by Hilton Zagreb Opening in Croatia Late 2018
Canopy by Hilton? | February 13, 2018
ZAGREB, Croatia and MCLEAN, VA – February 13, 2018 – Hilton (NYSE:HLT) and Zagreb City Hotels d.o.o announced today development plans for Canopy by Hilton Zagreb. The project, featuring Hilton's hotel brand that redefines the lifestyle hotel category, is scheduled to open in late 2018. The property will provide a comfortable stay for guests in search of thoughtfully local experiences in Zagreb's vibrant downtown neighborhood. The hotel will be the first Canopy in continental Europe. Situated in downtown Zagreb, close to the city's main rail station, the hotel is expected to welcome its first guests in late 2018, and will be ...
Projects in Canada’s Construction Pipeline Up 17% YOY
Lodging Econometrics | February 13, 2018
February 13, 2018 – PORTSMOUTH, NH According to Lodging Econometrics (LE), the total Construction Pipeline in Canada currently has 244 Projects/32,170 Rooms, up 17% by projects Year-Over-Year (YOY). There are 87 Projects/11,286 Rooms Under Construction, up 19% by projects YOY. Projects Scheduled to Start Construction in the Next 12 Months are at 91 Projects/10,536 Rooms, up 15%, while those in Early Planning are at 66 Projects/10,348 Rooms, up 18%. The top hotel companies in Canada's Construction Pipeline by projects are: Marriott with 54 Projects/7,764 Rooms, InterContinental Hotels Group (IHG) with 43 Projects/4,436 Rooms, and H...
CooperWynn Real Estate Completes the Sale of the Holiday Inn Express Albuquerque -I 40/Eubank
CooperWynn Real Estate | February 13, 2018
Park City, UT – February 14, 2018 – As exclusive agent to Express Investments, Inc., CooperWynn Commercial Real Estate, is pleased to announce the sale of the 104-room Holiday Inn Express located at 10330 Hotel Circle in Albuquerque, New Mexico to Dallas based Newstream Hotels & Hospitality, a subsidiary of Newstream Commercial. Built in 1994, the property is well located on the northeast corner of the intersection of Interstate 40 and Eubank Blvd NE proximate to major demand generators such as Kirkland Airforce Base and Sandia National Laboratories. "The property was in excellent physical condition and garnered signific...
Rainmaker’s revcaster® Powers Newly Enhanced Market Intelligence for Omni Hotels & Resorts
Rainmaker | February 13, 2018
revcaster's next-generation platform recently implemented across the Omni brand ALPHARETTA, GA – Feb. 13, 2018 – The Rainmaker Group (Rainmaker), a leading provider of cloud-based hospitality revenue and profit optimization software, today announced that it has expanded its partnership with Omni Hotels & Resorts (Omni) by transitioning them to the recently launched, next-generation of revcaster® across the brand's portfolio of properties, covering more than 20,000 rooms across 60 properties in North America. In addition to being a revcaster customer since 2015, Omni is a longstanding customer of Rainmaker's guestrev&...
Mid-Market Brands Led Hotel Sales Volume in 2017
Lodging Econometrics | February 12, 2018
February 12, 2018 – PORTSMOUTH, NH – According to the recent U.S. Transaction Trend Report from Lodging Econometrics (LE), major mid-market brands with a price reported into the public domain led the U.S. in hotel sales volume in 2017. The Hilton brands with most hotel sales by price were Hilton Garden Inn with an Average Selling Price Per Room (ASPR) of $193,732 for 16 hotels, Homewood Suites with an ASPR of $189,342 for 13 hotels and Hampton Inn & Suites with an ASPR of $114,383 for 29 hotels. The Marriott brands with the most hotels sold in 2017 were Residence Inn with an ASPR of $152,672 for 31 assets, Courtyard with...
Orlando Tops 2017 Markets with 21 Hotels Sold and Average Selling Price Per Room of $96,402
Lodging Econometrics | February 12, 2018
February 12, 2018 – PORTSMOUTH, NH – According to analysts at Lodging Econometrics (LE), through the end of 2017 the markets with the largest number of hotels with selling prices reported into the public domain were: Orlando with 21 hotels and an Average Selling Price Per Room (ASPR) of $96,402, followed by two markets with 19 hotels sold, New York with an ASPR of $426,443 and Washington DC with $260,681. The next three markets with 15 hotels sold each were: Seattle with an ASPR of $236,958, Phoenix with $205,265 and Atlanta with $136,321. ...
Hospitality Financial Leadership – Creating a Hotel Accounting Policy Manual – The Dos and Don’ts
David Lund | February 12, 2018
By David Lund After recently completing a policy manual for a client, I want to share what worked for this hotel company and what could work for you. I also want to clear the air on policy vs. procedure. I know it is a big challenge to get a policy manual together for a hotel or hotel company. The big brands have resources to get the job done but the smaller brands and management companies do not have the same bandwidth. It is a project that always gets kicked down the calendar to another month or quarter. Check out another article I have written on why creating a hotel accounting policy manual is so challenging: http://hotelfinancialco...
Avison Young Hospitality Group Announces January 2018 Closings
Avison Young | February 12, 2018
ATLANTA – February 12, 2018 – The Avison Young Hospitality Group announced today that it has brokered the transaction of six hotels in January. The hotels included a full-service Marriott, a Courtyard by Marriott, two Marriott Fairfield Inns, one Red Roof Inn and one Comfort Inn. The hotels were located in Chicago, Washington, D.C., El Paso, Texas, High Point and Greensboro, N.C., and Columbus, Ga. Avison Young Hospitality Brokers involved in these sales were Brad Sinclair, Andy Broad, Rick George, Wendy Blissett, Rex Cagle, Michael Bernath, Thierry Roch and John James. "Our market advice to sellers for the last eight months...
Anichi Development Breaks Ground on 120-Room Anichi Resort in Dominica Set to Open Late 2019
Dominica | February 12, 2018
Roseau, Dominica – (February 12, 2018) Principals of the Anichi Resort and Spa hosted Prime Minister Roosevelt Skerrit and members of his Cabinet in a ground breaking ceremony for the 120 room property to be built in the northern town of Portsmouth. This boutique property will be operated by Trust Hospitality under the Autograph Collection Hotels brand of Marriott and is expected to open in late 2019. According to Alick Lawrence, CEO of Anichi Development, "This ground breaking ceremony is particularly relevant post Hurricane Maria, as it shows the resiliency of our people while instilling trust in the economic climate and hope in...
Dori Familiant Appointed General Manager Hilton McLean Tysons Corner
Hilton | February 12, 2018
MCLEAN, VA. – FEBRUARY 12, 2018 -- Dori Familiant has been appointed general manager of Hilton McLean Tysons Corner, according to Doug Gehret, Area Vice President, Park Hotels. Located in the Northern Virginia Technology corridor close to many major corporate headquarters, including Hilton headquarters, the 458-room hotel serves as an Innovation Hub where many of new meeting, guest room, service, technology and food and beverage concepts are tested. His appointment is effective immediately and he will oversee the day-to-day operations of Hilton McLean Tysons Corner. Prior to this appointment, Familiant held the general manager pos...
Brand Finance Hotels 50 Claims Marriott Closer to Checking In as Most Valuable Hotel Brand
Brand Finance | February 8, 2018
Hilton remains world's most valuable hotel brand but lead over Marriott shrinks 74%; Premier Inn and Holiday Inn are strongest hotel brands as consumers appreciate value for money; Airbnb's disruptive presence only set to grow as it targets business travellers For the third year in a row, Hilton is the world's most valuable hotel brand, with a brand value of US$6.3 billion. However, recording a 24% fall from last year, Hilton has seen their lead at the top over Marriott shrink from more than US$3.3 billion to just US$865 million, a staggering 74% reduction. As Hilton's brand value decreased, Marriott improved its brand value 8% to just...
Carlson Rezidor Hotel Group Expands Its Development Team in the Americas with Nine Appointments
Carlson Rezidor Hotel Group | February 8, 2018
MINNEAPOLIS (February 8, 2018) – Carlson Rezidor Hotel Group, one of the world's largest and most dynamic hotel groups, today announced the appointment of nine field directors within its development team. This new geographical structure allows the team to work more effectively with franchise owners and operators in addition to other business areas across the organization. "The diverse backgrounds of the newly appointed directors will be an enormous asset to our Americas development team as we execute our new 5-year Plan," said Terry Sanders, chief development officer, Americas, Carlson Rezidor Hotel Group. "This new team and refre...
Hotel Zephyr Appoints Reggie Kumar as Director of Operations
Hotel Zephyr | February 8, 2018
SAN FRANCISCO (February 8, 2018) – Hotel Zephyr, a boutique waterfront property located in San Francisco, is pleased to announce the recent appointment of Reggie Kumar as director of operations at Hotel Zephyr. In his new role, Kumar is responsible for spearheading all operations for the 361-room property, including strategic planning, maximizing hotel efficiency, project management, and front office staff management. "We are so pleased to welcome Reggie to the Hotel Zephyr team," said Jason Williams, general manager at Hotel Zephyr. "With over a decade of experience working in the hospitality industry in Northern California, his ...
Hotel Sales Volume Declines, Average Price Per Room Increases Moderately
Lodging Econometrics | February 8, 2018
February 8, 2018 – PORTSMOUTH, NH – According to analysts at Lodging Econometrics (LE), in 2017 there were 827 hotel transactions where selling prices were reported into the public domain. The Average Selling Price Per Room (ASPR) for the period was a reported $141,479, down from the peak of $154,230 set in 2015, but up 8.6% Year-Over-Year (YOY). There was $15.3B in purchases of hotel assets and property transfers in 2017, excluding M&A activity, down substantially from the peak established in 2015 of $26.1B. REITs were the largest net investors for their portfolios with $4.2B in investments, followed by privately held e...
Vertical Booking Adds More Than 1000 New Hotels in 2017
Vertical Booking | February 8, 2018
Portland, Ore – February 8, 2018 – Vertical Booking, a recognized leader in global reservation technology, announced today tremendous growth in 2017 with the addition of more than 1000 hotels utilizing their revenue generating solutions. "Vertical Booking continues to expand and grow worldwide because more and more hotels are realizing the benefits of a real-time, centralized solution designed to assist hoteliers in making more informed decisions and maximizing revenue," said Mark Lewis-Brown, President/CEO of Vertical Booking USA. Hotels rapidly jumped on board to utilize the plethora of reservation upselling tools designed...
Urgo Hotels & Resorts Selects Aptech’s Enterprise Financial Systems for 42 Properties
Urgo Hotels and Resorts | February 8, 2018
Urgo Taps Aptech's Execuvue Business Intelligence, Targetvue Budgeting and Forecasting and PVNG Enterprise Accounting for Growing Family Business PITTSBURGH – February 8, 2018 – Aptech Computer Systems announced Urgo Hotels & Resorts selected its Execuvue® Hospitality Business Intelligence, Targetvue Budgeting and Forecasting and PVNG® Enterprise Accounting Systems. Aptech will automate data gathering, performance reporting and analysis, and accounting for Urgo's portfolio of properties. Aptech is the leading provider of business intelligence, budgeting and forecasting, and enterprise accounting hotel software s...
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