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Finance & Development
Hilton Signs Nine Hotels in Mexico Representing Five Brands Including Company’s First Dual-Branded Property
Hilton Hotels & Resorts | January 12, 2017
MCLEAN, Va. - Hilton (NYSE: HLT) today announced the signing of nine properties in Mexico that represent a number of Hilton brands, including Hilton Hotels & Resorts, Curio - A Collection by Hilton, Hilton Garden Inn, Hampton by Hilton and Homewood Suites by Hilton, as well as the company's first dual-branded property in the country. These newly announced properties contribute nearly 1,200 rooms to the hotel company's pipeline and will join the portfolio of more than 45 existing hotels in Mexico. "Mexico continues experiencing impressive tourism growth, and the addition of these hotels will help satisfy the increasing d...
Future of Risk Series: Reputation Risks Accelerate and Amplify
Nancy Albinson | January 12, 2017
By Nancy Albinson, Andrew Blau and Yang Chu In today's hyper-connected world dominated by mobile devices, social media, and evolving expectations from society, information can spread like wildfire. This convergence of mobile and social media is intensifying the impact of reputation risks for organizations and is driving them to fundamentally rethink their approaches to risk management and proactively address these accelerated, amplified risks. What forces are driving this trend? Social media is creating a more connected, networked world where information is rapidly amplified Disruptive mobile technologies are ushering in a new era of ...
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...
HITEC Amsterdam Online Registration Open Now – Secure Your Spot Today
HFTP | January 10, 2017
HFTP's Inaugural HITEC Amsterdam is 29–30 March 2017 at RAI Amsterdam Convention Centre in Amsterdam, The Netherlands AUSTIN, TEXAS, USA (January 10, 2017) – Hospitality Financial and Technology Professionals (HFTP®), producers of Hospitality Industry Technology Exposition & Conference (HITEC®), has announced that attendee registration for its inaugural HITEC Amsterdam is now available online. Also available on the HITEC Amsterdam website is information on travel and hotel reservations. HITEC is the world's largest hospitality technology exposition and conference, and has extended its reach even further with its...
Hilton Joins TripAdvisor Instant Booking Marketplace
Hilton | January 9, 2017
MCLEAN, Va. and NEEDHAM, Mass., Jan. 9, 2017 -- Hilton (NYSE: HLT) and TripAdvisor (NASDAQ: TRIP) today announced a partnership to make Hilton's portfolio of 13 world-class global brands accessible in the TripAdvisor instant booking marketplace. Beginning in early 2017, travelers around the world will be able to make a reservation at any Hilton property quickly and easily without leaving the TripAdvisor site or mobile app. Hilton, comprising nearly 789,000 rooms across 104 countries and territories, is the latest major hotel company to join TripAdvisor instant booking. The partnership will expand TripAdvisor's instant booking in...
Kasikci’s Bentley Management Opens 2017 with New Directions, Clients and Projects
Jim Butler | January 4, 2017
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Author of www.HotelLawBlog.com Recently, I had a delightful year-end lunch at the SoHo House with a remarkable man I have known and worked with about 25 years. I am very proud to call him my friend and include him amongst our "celebrity clients." When I first met this hotelier, he had recently left Four Seasons Newport Beach, and taken over the helm of the newly opened Beverly Hills Peninsula Hotel. With a hands-on intensity, he quickly turned around the financial performance at the hotel, earned the elusive 5 stars and 5 diamonds, and made the hotel the most profitable...
D’Ambra Construction Co. Gains Approval for Development of $20 Million, 120-room Hyatt Place Hotel in Warwick, RI
January 4, 2017
Jan. 04--WARWICK, R.I. -- The inauguration of city officials Tuesday night was marked by pomp and circumstance and included an announcement of approvals of a new hotel on Jefferson Boulevard. Mayor Scott Avedisian announced that D'Ambra Construction Co. has received all the approvals from the Rhode Island Commerce Corporation for a 120-room Hyatt Place Hotel on the boulevard near the airport, a more than $20-million project. The hotel project had received preliminary approvals in June. A groundbreaking ceremony is expected to take place toward the end of the month, said press secretary Courtney Marciano. Avedisian's choice of ve...
Hotel Construction Pipeline in Latin America is Steady with 892 Projects, Up 3 Percent YOY
Lodging Econometrics | December 28, 2016
December 28, 2016 – PORTSMOUTH, NH - According to the recent Construction Pipeline Trend Report for Latin America from Lodging Econometrics (LE), the region has 892 Projects/151,203 Rooms, up 3% by projects and down 1% by rooms Year-Over-Year (YOY). For hotels currently Under Construction, the Latin America Pipeline has 410 Projects/70,564 Rooms, down 1% by projects and 6% by rooms YOY. There are 182 Projects/31,255 Rooms Scheduled to Start Construction in the Next 12 Months, up 3% by projects and 2% rooms. Projects in Early Planning, 300 Projects/49,384 Rooms, are up 8% by projects and 5% by rooms. The three cities with the large...
Hotel AG Announces Recent Closings
Hotel AG | December 27, 2016
ATLANTA – December 28, 2016 – Hotel AG announced today that in December the firm closed 5 hotel transactions located mostly in the central US. The sales included a Residence Inn, Hilton Garden Inn, Courtyard by Marriott, Holiday Inn and a Hawthorn Suites in Texas. Chris Stark, a partner with the firm, remarked, "The volatility in the hotel transaction markets seem to have stabilized post-election. These recent sales represent a sharp back to retail pricing. We as a firm are encouraged that this cycle is showing signs of lengthening as the health of the market improves." ...
Marriott Takes Top Spot Leading Franchise Companies in Global Hotel Construction Pipeline with 2,021 Projects
Lodging Econometrics (LE) | December 27, 2016
December 27, 2016 – PORTSMOUTH, NH Analysts at Lodging Econometrics (LE) report that the four leading franchise companies in the Global Hotel Construction Pipeline by project-count are: Marriott International with 2,021 Projects/347,544 Rooms, Hilton Worldwide with 1,733 Projects/267,788 Rooms, InterContinental Hotels Group (IHG) with 1,343 Projects/207,806 Rooms and Choice Hotels with 487 Projects/43,381 Rooms. The leading brand for each of these top Global franchise companies are: IHG's Holiday Inn Express with 607 Projects/73,584 Rooms, Hilton's Hampton Inn with 478 Projects/55,737 Rooms, Marriott's Fairfield Inn with 299 Proje...
El San Juan Hotel to Join Curio – A Collection by Hilton Following Multi-Million Dollar Renovation
December 22, 2016
SAN JUAN, Puerto Rico – December 22, 2016 – El San Juan Hotel is pleased to announce that it will open its doors as part of Curio – A Collection by Hilton TM to travelers and locals alike on February 5th, 2017. Following a property-wide multi-million-dollar renovation, one of the most extensive completed at the property since its inception in 1958, the highly anticipated reopening will debut the majority of the updates made to the iconic San Juan property. The new look designed by Jeffery Beers, one of the top hotel and restaurant designers in the world, will include completely remodeled guest rooms, a new pool, 22 lux...
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...
Dubai Tops List for Largest Construction Pipeline in Middle East with 110 Projects /31,555 Rooms
Lodging Econometrics | December 21, 2016
December 21, 2016 – PORTSMOUTH, NH – According to the recent Construction Pipeline Trend Report for the Middle East from Lodging Econometrics (LE), the total pipeline has 513 Projects/136,683 Rooms, up 21% by projects and 6% by rooms Year-Over-Year (YOY). For hotels currently Under Construction, the Middle East Pipeline has 298 Projects/81,169 Rooms, up 28% by projects and 6% by rooms YOY. There are 108 Projects/25,783 Rooms Scheduled to Start Construction in the Next 12 Months, up 23% by projects and 20% by rooms. Projects in Early Planning, 107 Projects/29,731 Rooms, are up 3% by projects and down 3% by rooms. The three ci...
Global Hotel Construction Pipeline Shows Modest Growth, Up 6 Percent by Projects YOY
Lodging Econometrics (LE) | December 21, 2016
December 21, 2016 – PORTSMOUTH, NH The Total Global Pipeline has 11,547 Projects/1,953,784 Rooms, up 6% by projects and 4% by rooms Year-Over-Year (YOY) according to the recent Global Construction Pipeline Trend Report from Lodging Econometrics (LE), who tabulates the Construction Pipeline and Census with complete ownership detail for 196 countries worldwide. For hotels currently Under Construction, the Global Pipeline has 5,417 Projects/1,008,948 Rooms, both within 1% of last year's Total. However, there are 3,514 Projects/504,938 Rooms Scheduled to Start Construction in the Next 12 Months, up 22% by projects and 19%...
An Insider’s Irreverent Guide to Travel in 2017
Alan E. Young | December 21, 2016
By Alan E. Young, Co-Founder and President of Puzzle Partner It's been a heck of a year, hasn't it? Most of us are ready to say a big Sayonara! to the hangover that 2016 has become. But really, on the whole, the travel industry had a pretty solid year. While next year doesn't register signs of dramatic growth in the number of travelers, it does appear that travelers will spend more when they do travel.[1] Capturing that revenue will be more important than ever with the uncertain political and economic landscapes. Here's where the opportunities are in 2017 to grab some of that market share: "Get the heck out of dodge" takes on a new mean...
EB-5 Financing for Developers Extended. Obama Signs “Continuing Resolution”
Jim Butler | December 20, 2016
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Author of www.HotelLawBlog.com 20 December 2016 On December 9, 2016, President Obama signed the "Continuing Resolution" passed by Congress to extend funding of the federal government until April 28, 2017, by which time it is expected that Congress will have approved a budget for the full fiscal year. EB-5 Regional Center program also extended to April 28, 2017 As with several prior budget extensions, the Continuing Resolution included an extension of the EB-5 program's Regional Center provisions, validating expectations of industry experts. This means that developers wh...
HSMAI Names Top 25 Extraordinary Minds in Hospitality Sales, Marketing, & Revenue Optimization for 2016
HSMAI | December 13, 2016
The Hospitality Sales & Marketing Association International (HSMAI) is proud to announce its 2016 honorees for The HSMAI Top 25: Extraordinary Minds in Hospitality Sales, Marketing, Revenue Optimization. The hospitality and travel industry requires creative thinkers and innovators. The HSMAI Top 25 honors these top achievers in sales, marketing, and revenue optimization of hospitality, travel and tourism organizations for their accomplishments in the preceding 18 months. HSMAI will honor The HSMAI Top 25 in conjunction with the Adrian Awards Dinner Reception and Gala on February 21, 2017, at the New York Marriott Marquis, and in a p...
Seoul Remains Top City for Hotel Construction Pipeline in Asia Pacific with 159 Projects
Lodging Econometrics | December 13, 2016
December 13, 2016 – PORTSMOUTH, NH Lodging Econometrics (LE) reports that, excluding China, the top four cities in the Asia Pacific region with the largest hotel construction pipelines by rooms are: Seoul with 159 Projects/31,233 Rooms, Jakarta with 118 Projects/20,885 Rooms, Kuala Lumpur with 47 Projects/11,484 Rooms and Tokyo with 49 Projects/10,941 Rooms. Seoul is the only one of these markets to increase Year-Over-Year with 22 projects added, up 16%. Excluding China, the leading franchise companies in Asia's Hotel Construction Pipeline are: Marriott International, after the Starwood merger, with 236 Projects/54,328 Rooms, Inte...
American Liberty Hospitality Makes Owner Profitability Job One
American Liberty Hospitality | December 12, 2016
Family Owned Operator Puts Leading Edge Financial Management Tools to Work for Stronger Property Performance PITTSBURGH – December 12, 2016 – Nick Massad, Jr. and his wife Vicki purchased American Liberty Hospitality 26 years ago on a foundation of service to its owners and investors. They worked hard, hired good people and treated every penny as if it were their own. Today American Liberty Hospitality (ALH) operates 20 properties with Hilton, IHG and other flags in Texas and Louisiana. The company is a real American success story. Nick Massad, Jr. started in the hotel business as a bellboy to help put himself through colleg...
Pebblebrook Hotel Trust and Noble House Complete $6 Million Renovation of LaPlaya Beach & Golf Resort
LaPlaya Beach & Golf Resort | December 8, 2016
NAPLES, Fla. (December 8, 2016) – LaPlaya Beach & Golf Resort, a Noble House Resort located on the idyllic Naples beachfront, is pleased to announce the completion of a $6 million renovation, which includes luxurious new Beach House guest rooms, property-wide beautification updates, new sustainability initiatives, and the introduction of a gourmet coffee bar. Located on a stunning, private six-acre white sand beach alongside the Gulf of Mexico, LaPlaya Beach & Golf Resort offers a quintessential Naples experience with an award-winning beachside restaurant, luxurious spa, exclusive golf club, and stunning waterfront views f...
Hilton To Detail A Simplified Fee-Based Business With Expanded Capital Return Potential
Hilton | December 8, 2016
Executives to highlight the business strategies for Hilton, Park Hotels & Resorts, and Hilton Grand Vacations MCLEAN, Va. - Hilton Worldwide Holdings (NYSE: HLT) ("Hilton") will host an Investor Day in New York today to discuss the company's strategy and financial outlook in conjunction with the planned spin-offs of Park Hotels & Resorts and Hilton Grand Vacations. The event will feature presentations by members of Hilton's senior leadership team including Christopher J. Nassetta, president & chief executive officer, and Kevin Jacobs, executive vice president & chief financial officer. Thomas J. Baltimo...
Valuing a Hotel’s Real and Personal Property Separately
Hans Detlefsen | December 7, 2016
How to Separate Tangible Personal Property Value from Real Property Value in Hotels A hotel's value can be categorized into real property and personal property. Real property includes the land and improvements. Personal property includes tangible1 and, sometimes, intangible2 personal property. When valuing a hotel for ad valorem tax purposes, it is often necessary to separate the tangible personal property value from the real property value, as many jurisdictions tax the real property separately. This article describes a methodology for separating the tangible personal property from the real property value of hotels. Introduction by Exa...
Lao International Development & IHG Enter Agreement for New Build InterContinental Vientiane in Laos
IHG | December 6, 2016
Set to open in 2021, the new-build InterContinental Vientiane will join Crowne Plaza Vientiane to be the second hotel managed by IHG in the capital city. The hotel will feature more than 400 rooms, offering guests a quality stay in the upcoming World Trade Centre – a mixed-use complex being developed by Lao International Development Co. Ltd. Slated to be the city's commercial hub when it opens, the complex will also include a large retail mall, medical centre, conference centre, office tower and residential towers. Strategically located a short drive away from Wattay International Airport and adjacent to Lan Cang Avenue, Vietnam S...
Los Angeles Has More Pipeline Rooms in Early Planning Than Any Other Market
Lodging Econometrics | December 6, 2016
December 6, 2016 – PORTSMOUTH, NH – According to the recent Construction Pipeline Trend Report from Lodging Econometrics (LE), Los Angeles has 18,229 Rooms/108 Projects in the Total Pipeline. Early Planning currently stands at 6,382 Rooms/37 Projects. It is the highest room-count for this stage in any market. Developers have yet to make a branding decision for 4,800 Rooms/23 Projects in Early Planning, representing significant opportunity for franchise companies and their brands. Additionally, there are 5,975 Rooms/29 Projects Under Construction and 5,872 Rooms/42 projects Scheduled to Start Construction in the Next 12 Month...