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
HFTP Introduces Keynote Speakers for HITEC Amsterdam 2018
HITEC | February 5, 2018
World's largest hospitality technology exposition and conference adds Frits van Paasschen and Nancy Rademaker to education program Hospitality Financial and Technology Professionals (HFTP®), producer of the Hospitality Industry Technology Exposition and Conference (HITEC®), is pleased to announce that Frits van Paasschen and Nancy Rademaker will serve as keynote speakers for HITEC Amsterdam 2018. Rademaker will present the opening keynote on 12 April from 09:00 to 10:30 about "Extreme Customer Centricity in a Networked World." Van Paasschen will present the closing keynote on 13 April from 13:30 to 15:00 about "Im...
HVS 2018 European Hotel Lending Survey Reports Positive Outlook for Financing Although Banks Showing Caution on Over-Supply
Peter Szabo | February 5, 2018
by Peter Szabo and Simon Hulten A survey of leading European banks has shown that despite on-going uncertainty surrounding Britain's exit from the EU they are still positive about lending on hotel projects in Britain, ranking the UK as their most preferred hotel lending market along with Germany and the Netherlands. According to the European Hotel Lending Survey 2018, published today by brokerage and investment services specialist HVS Hodges Ward Elliott, debt is widely available for all types of hotel projects across the continent. "Over the past year cautiousness due to increased political risks and economic policy challenges has been...
IHG Appoints Karin Sheppard as Managing Director for Europe
IHG | February 5, 2018
IHG® (InterContinental Hotels Group) has appointed industry leader Karin Sheppard as Managing Director for IHG across its European business. Based in IHG's global headquarters in Buckinghamshire, Karin is responsible for driving the sustainable long term growth of IHG and the performance of its European hotels. Karin brings more than 15 years of IHG experience and more than 20 years of international experience across technology, telecommunications and hospitality. Prior to her appointment as Managing Director for Europe in January 2018, Karin served as Chief Operating Officer (COO) of Australasia and Japan, leading the operations an...
Hospitality Financial Leadership – Free Property Management Software – More Disruption?
David Lund | February 5, 2018
By David Lund Our industry is ripe for all kinds of disruption. The two big disruptors today are online travel agents and home sharing services. If we look back, we see all kinds of "other" disruptors that seemed on first glance to be negative. In many cases, they ultimately helped solve a problem we could not master. Or, they ended up being better at the task than we were. The first and largest one that comes to mind is in food and beverage operations. The disruption comes in two forms: pure outside competition and internal desire. The outside disruption—the free-standing restaurant—has been prolific and its effects are deb...
Extended-Stay Hotels Account for 27% of All Projects Under Construction
Lodging Econometrics | February 2, 2018
February 2, 2018 – PORTSMOUTH, NH – According to recent reports from Lodging Econometrics (LE), 1,370 Projects/143,344 Rooms in the U.S. Construction Pipeline are extended-stay projects. Of these, 424 Projects/46,551 Rooms are Under Construction, accounting for 27% of all projects Under Construction in the Total Pipeline. Additionally, 605 Projects/64,121Rooms are Scheduled to Start Construction in the Next 12 Months while an additional 341 Projects/32,672 Rooms are in Early Planning. Home2 Suites by Hilton currently has the largest Extended-Stay Pipeline with 355 Projects/37,188 Rooms. The second largest brand is Marriott...
Hotel Equities Enters Canada; Creates Regional Support to Manage Two Marriott Hotels in Edmonton, Alberta
Hotel Equities | February 1, 2018
ATLANTA–February 1, 2018 – Hotel Equities has entered the Canadian market to oversee two Marriott hotels in Edmonton, effective immediately. Hotel Equities adds its first hotels in Canada after the firm's executive team recently restructured the organization to support both domestic and international growth. Located in Alberta, in the western region of Canada, the new Fairfield Inn & Suites by Marriott Edmonton North and the recently built TownePlace Suites by Marriott Edmonton South are owned by Iliyan Hospitality, Inc. Owners of Iliyan Hospitality explored several management options and felt Hotel Equities was a great ...
2.5% Growth Rate of New Hotel Openings Expected in 2018 & 2019
Lodging Econometrics | February 1, 2018
February 1, 2018 – PORTSMOUTH, NH – By the end of 2018, the Census of Open & Operating Hotels in the U.S. is expected to grow by 2.5% with 1,145 Projects/130,209 Rooms opening up according to published reports from Lodging Econometrics (LE). Of those expected to open, 514 Projects/50,165 Rooms will be Upper Midscale, the highest count of any chain scale and 45% of all new openings. 556 Projects/59,309 Rooms, almost 50% of new openings, will be suburban locations although the U.S. market with the most anticipated openings is New York with 57 projects/9,534 Rooms. In 2019, the Census is expected to grow another 2.5% by ope...
Participate in HFTP’s Entrepreneur 20X at HITEC Amsterdam
HITEC | February 1, 2018
Startups should apply online by 16 February, and mentors and volunteers should apply by 20 February Hospitality Financial and Technology Professionals (HFTP®), producers of Hospitality Industry Technology Exposition and Conference (HITEC®), is currently accepting applications for participants, judges and mentors for Entrepreneur 20X (E20X) at HITEC Amsterdam. Those who wish to participate in the European version of E20X can apply online; startups can apply here, and mentors and volunteers can apply here. E20X Amsterdam, a pre-conference event, will take place at 14:30 on Wednesday, 11 April at the RAI Convention Center in Amste...
The Rainmaker Group Ends 2017 with Record-Breaking Growth
Rainmaker | February 1, 2018
Company experiences a 64 percent increase in hospitality property deployments year-over-year ALPHARETTA, GA – Feb. 1, 2018 – The Rainmaker Group (Rainmaker), a leading provider of cloud-based hospitality revenue and profit optimization software, today announced that the company ended 2017 with record-breaking performance and growth. Year-over-year, Rainmaker experienced an astounding 64 percent increase in hospitality property deployments. The revintel® business intelligence solution led the way, with an almost 78 percent increase in property deployments. During 2017, a number of new customers joined Rainmaker's global h...
Authenticity Confronts Branding: Non-Branded Hotel Properties Offer Great Opportunity to Those Who Understand the Market
Steven Marx | January 31, 2018
By Steven Marx Commercial mortgage brokers are always trying to keep up with the latest trends, risks and developments when it comes to real estate. Hotel lending has historically been a specialty understood and embraced by few. What other class of real estate relies on leases that may be as short as one night and also sometimes sees a decrease in net operating income (NOI) as more product is sold? What other real estate type includes an operating business that is often at least as important as the real estate itself? In days gone by, mortgage brokers were most comfortable when their hotel assets were backed by nationally recognized fra...
Upper Midscale and Upscale Projects Lead the U.S. Construction Pipeline Comprising 67% of Total Pipeline
Lodging Econometrics | January 31, 2018
January 31, 2018 – PORTSMOUTH, NH – Analysts at Lodging Econometrics (LE) report that the Upper Midscale category stands at 2,129 Projects/211,724 Rooms, and has the largest project count of all chain scales in the Total U.S. Construction Pipeline. The second largest is the Upscale category which has 1,339 Projects/172,723 Rooms. Together, the Upper Midscale and Upscale Pipelines comprise 67% of all projects in the Total Pipeline. The brands with the largest number of projects in Upper Midscale are: IHG's Holiday Inn Express with 444 Projects/41,343 Rooms; Hilton's Home2 Suites 355 Projects/37,188 Rooms and Hampton Inn &...
PNK Group & Hyatt to Bring New Build Unbound Collection by Hyatt to Hollywood, California
The Unbound Collection by Hyatt | January 31, 2018
CHICAGO (January 31, 2018) – Hyatt Hotels Corporation (NYSE: H) today announced the development of a new hotel in Hollywood, Calif., for The Unbound Collection by Hyatt brand, slated to open in 2019. A Hyatt affiliate has entered into a franchise agreement with PNK Group, a subsidiary of S3D Partner, to build a new 64-room boutique lifestyle hotel, which will be located at 1525 N. Cahuenga Blvd. Located near the iconic Hollywood Palladium theater, famed Sunset Boulevard and star-lined Hollywood Walk of Fame, the new hotel will reflect the avant-garde attitude of Hollywood. The hotel will be managed by Interstate Hotels & Resor...
Important News for Hospitality Executives: How the New Tax Act Could Affect Your Estate Plan
Jim Butler | January 30, 2018
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 30 January 2018 If you are a hotel executive or other highly compensated individual in the hospitality industry, you need to be aware of how the new Tax Act (H.R. 1 – Tax Cuts and Jobs Act) might affect your estate plan. In some cases, the impact will be significant. In the brief article below, JMBM's tax attorneys recommend that you review your existing estate plan to ensure that the Tax Act does not alter your plan's original intentions. They also point to substantial new planning opportunities provided by the Tax Act, and you wil...
The University of Rhode Island Issues Request for Qualifications and Expressions of Interest for Real Estate Development on the URI Kingston Campus un
University of Rhode Island | January 29, 2018
The University of Rhode Island has fee title to a 4.2 acre site located at 85 - 95 Upper College Road, Kingston, RI and is seeking a qualified commercial real estate developer or development team to develop and operate a new 100 guest room hotel, with some extended stay rooms, and a new mixed-use retail/office/apartment building on the Site, across from the core historic campus quadrangle, a National Historic Landmark. This is a unique property with access to a University population over 20,000. Additionally, the subject site is proximate to various other regional demand generators, such as the area beaches in Narragansett and Newport. ...
RLH Corporation Executes Five Hotel Purchase and Sale Agreements
RLH Corporation | January 29, 2018
DENVER (January 29, 2018) — RLH Corporation (NYSE:RLH) today announced the execution of five hotel purchase and sale agreements resulting from the previously disclosed listing for sale of 11 company-owned hotels. The five sales are currently anticipated to close in February or early March, 2018, subject to standard contingencies and closing conditions. The sale prices contracted on these five assets exceeded the company's expectations. The real estate market conditions remain robust and RLH Corporation was able to negotiate pricing for these first five hotels reflecting single-digit cap rates. The company expects to maintain Red L...
Marriott, Hilton and IHG Lead U.S. Construction Pipeline Comprising 69% of Total Pipeline
Lodging Econometrics | January 29, 2018
January 29, 2018 – PORTSMOUTH, NH – According to the recent United States Construction Pipeline Trend Report from Lodging Econometrics (LE), the franchise companies with the largest construction pipelines are; Marriott with 1,410 Projects/180,647 Rooms, Hilton with 1,287 Projects/144,958 Rooms and IHG with 831 Projects/84,865 Rooms. These 3 franchise companies comprise 69% of all projects in the Total Pipeline. The largest brands for each of these companies are: Marriott's Fairfield Inn with 303 Projects/29,051 Rooms and TownePlace Suites with 208 Projects/21,299 Rooms; Hilton's Home2 Suites with 355 Projects/37,188 Rooms an...
Hospitality Financial Leadership – Every Line Needs an Owner
David Lund | January 29, 2018
By David Lund My dear mother Donna often recited her favorite sayings, especially when she wanted to make a point. She had some really good sayings, and several have stuck with me. One of them I relate to hotel financial leadership. Her saying was "Many hands make light work." How does that relate to creating an engaged leadership team at your hotel? Let me explain. It is true in any aspect of our lives at home and work that teamwork makes things easier. The reason it makes them easier is that we have more effort directed toward the thing we are trying to do. The simplest example is trying to lift a heavy rock. If we work in a coordinat...
AHLA’s Financial Management Committee Issues Guidance for the New Revenue Recognition Standards
American Hotel & Lodging Association (AHLA) | January 25, 2018
The Financial Accounting Standards Board ("FASB") recently revised how revenue from contracts with customers should be recorded. This was contained in FASB's Accounting Standards Codification ("ASC") 606. Implementation of ASC 606 is effective starting January 1, 2018 for public companies and no later than December 31, 2019 for all other companies. The objectives of the new accounting guidance are to clarify how revenue should be recognized for goods and services. The American Hotel & Lodging Association's (AHLA) Financial Management Committee has issued guidance on the new revenue recognition standards and how it affects the hotel ...
HFTP Launches Certification Advisory Program (CAP) to Benefit CHAE and CHTP Applicants
HFTP | January 25, 2018
The new program will pair new certification applicants with experienced mentors International association Hospitality Financial and Technology Professionals (HFTP®) recently introduced its new Certification Advisory Program (CAP), which is designed to provide guidance to Certified Hospitality Accountant Executive (CHAE®) and Certified Hospitality Technology Professional (CHTP®) applicants. The inaugural program will pair HFTP certification candidates with HFTP members who hold an active HFTP designation. The advisors will help and support candidates via one-to-one interactions as a supplemental review option for the certific...
Marriott Boasts Largest Franchise in U.S. Construction Pipeline with 1,410 Projects Total
Lodging Econometrics | January 25, 2018
January 25, 2018 – PORTSMOUTH, NH – Marriott International currently has the largest construction pipeline of any franchise company in the U.S. with 1,410 Projects/180,647 Rooms. Their largest brands in the Total Pipeline are: Fairfield Inn with 303 Projects/29,051 Rooms, Residence Inn with 199 Projects/24,680 Rooms and TownePlace Suites with 208 Projects/21,299 Rooms. Marriott has the most rooms currently Under Construction with 502 Projects/68,119 Rooms, which represents more than 1/3 of all Pipeline rooms Under Construction. Additionally, they have the most rooms Scheduled to Start Construction in the Next 12 Months with ...
New Guide Outlines Strategies for Building Thought Leadership, Influence and Market Leadership
Puzzle Partner | January 25, 2018
Travel and Hospitality marketing agency Puzzle Partner shares content marketing tactics that drive trust, visibility and sales TORONTO, ON (January 25, 2018) – We have entered an age where leadership matters more than ever — thought leadership, to be exact. Building trust, credibility, awareness, and influence to increase profits is more than just a goal of most CEOs and executives. It's also the topic of a new guide from the leading travel and hospitality technology marketing agency, Puzzle Partner. The firm recently published "Thought Leader - Market Leader" developed to help brands become a sought-after source for informa...
HFTP Chapters Offer Regional Education for Hospitality Finance and Technology Professionals
HFTP | January 24, 2018
Online registration open for Mid-South Atlantic Regional and Florida Regional Several chapters of Hospitality Financial and Technology Professionals (HFTP®) have banded together to curate and host regional, educational conferences in 2018. HFTP's regional conferences showcase the many advantages of HFTP membership, and provide continuing education and networking opportunities to hospitality professionals in the area. To date, two HFTP regional conferences have been scheduled in areas across the United States. "HFTP's regional conferences are known for their intimate nature and top-notch education sessions," said F...
The Year-End U.S. Hotel Construction Pipeline Continues Its Upward Growth Trend, Projects Up 4% YOY
Lodging Econometrics | January 24, 2018
January 24, 2018 – PORTSMOUTH, NH – According to the year-end U.S. Construction Pipeline Trend Report from Lodging Econometrics (LE), the pipeline stands at 5,151 Projects/623,695 Rooms, up 4% by projects Year-Over-Year (YOY). There are 1,544 Projects/200,632 Rooms Under Construction, up 2% by projects YOY. Projects Scheduled to Start Construction in the Next 12 Months, at 2,101 Projects/245,214 Rooms are down 12% by projects YOY. Projects in Early Planning are at 1,506 Projects/177,849 Rooms, up 44% by projects YOY. The rapid growth of new brands announced by major franchise companies in 2017 contributed to the increase in ...
Pebblebrook Hotel Trust Presents the 6th Annual Pebby Award Nominations
Pebblebrook Hotel Trust | January 23, 2018
HOLLYWOOD, Calif.--Pebblebrook Hotel Trust (NYSE: PEB) (the "Company") today announced the nominations for its Sixth Annual Pebby Awards. The Pebby Award nominees were chosen for their outstanding accomplishments in 2017, as determined by the Company. The Academy's nominations are notably diverse this year, and while Skamania Lodge received four nominations, multiple hotels earned three nominations each, including: Hotel Zoe San Francisco; Hotel Zelos San Francisco; LaPlaya Beach Resort & Club; The Nines, a Luxury Collection Hotel, Portland and Union Station Hotel Nashville, Autograph Collection. The fierce competition amongst the p...
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