Finance & Development

/Finance & Development

Finance & Development

Radisson Hotel Group Signs With Europlan for New Radisson Blu Resort in Mazury Lakes, Poland

Radisson Blu | September 26, 2019

Brussels/Warsaw - September 26, 2019 - Radisson Hotel Group is pleased to announce an agreement with Polish hotel investor Europlan for a new Radisson Blu resort in Poland. Located in Mazury Lakes, a district known as the ‘land of a thousand lakes’, the Radisson Blu Resort, Ostroda Mazury Lakes offers the ultimate resort experience with its own marina and water park. The new property brings the group´s portfolio in Poland to 19 properties across five brands – including Radisson Collection, Radisson Blu, Radisson RED, Radisson and Park Inn by Radisson – and will strengthen the group´s position as the largest international operator fo...

IHG Signs Agreement With Aleph Hospitality to Develop Ten Hotels Across Africa

IHG | September 26, 2019

InterContinental Hotels Group (IHG®), one of the world’s leading hotel companies, has signed a Master Development Agreement (MDA) with Aleph Hospitality to develop ten franchise hotels across IHG’s portfolio of brands in midscale and upscale segments. The agreement was signed at Africa Hotel Investment Forum in Addis Ababa, Ethiopia. The MDA will see IHG expand its presence in Africa across key countries such as Kenya, Ethiopia, Nigeria, Morocco, Algeria and Ghana. The addition of new hotels, as a part of the agreement, will solidify IHG’s position as one of the leading hospitality players in the MEA region and will strengthen IHG...

Cambria Hotels Plans Midwest Expansion With Two Hotel Signings

Cambria Hotels | September 25, 2019

Located at 205 W. 9th St., the six-story, 149-room Cambria Kansas City - Downtown will be just a few blocks from the city's Power and Light District. The hotel's location will offer guests convenient access to many of the area's most popular restaurants, shops and attractions, including the Sprint Center, the KC Convention Center and KC Live. The hotel will also be a short drive from the corporate headquarters of Cerner, DST Systems and Hallmark Cards. The nearby Riverfront Heritage Trail will give hotel guests an opportunity to stroll along the Missouri River. These agreements continue to fuel the Cambria brand's busy year, in which seven...

IHG Partners With IMS Budownictwo and Hotel Professionals Management Group for Holiday Inn Express® in Wroclaw, Poland

IHG | September 25, 2019

Falling under the top 10 largest economies in the EU and having been recognised as the best European Destination in 2018, Poland’s hospitality industry is continuing to thrive. The latest signing underscores the rapid hotel development in the country as well as IHG’s commitment to the market. The Holiday Inn Express Wroclaw will be located on one of the most important arterial roads in the city of Wroclaw, giving the hotel a beautiful sight of the buzzing Poludnie district, with its increasingly popular culinary scene and food markets. The 142-room hotel will be a new build development representing the seventh Holiday Inn Express in Polan...

Hotel Equities Development Services Division Gives Owners Advantage in Hotel Development

Hotel Equities | September 24, 2019

Collaborative, holistic solution is a value-add for stakeholders Atlanta, GA – (September 23, 2019) – Today, Atlanta-based Hotel Equities (HE) announced details of its development services division designed to add value for new hotel development, renovation and conversion projects. Hotel Equities built its brand on the ability to identify areas in the industry where they can meet a need for owners by applying their expertise. It’s a strategy that has resulted in longevity and relevance for the company celebrating 30 years in the industry. The new division is the latest addition to its platform of services and is designed to benefit t...

Virgin Hotels Ventures to Miami With New Development in Brickell Slated to Open in 2023

Virgin Hotels | September 23, 2019

MIAMI, Sept. 23, 2019 -- Virgin Hotels, the lifestyle hotel brand by Virgin Group Founder Sir Richard Branson, announces plans to open and operate a new hotel in Miami, Florida. Virgin Hotels Miami will be managed by Virgin Hotels, developed by Blue Jay Capital with BLUR Workshop as the architect, and is slated to open in 2023. "I'm personally very passionate about this property, as it brings Virgin Hotels into a city that holds a great deal of significance for us. In addition to being my home, Miami is the headquarters of Virgin Hotels, so this is a milestone that has been a long time coming," comments Virgin Hotels CEO Raul Leal. "Miami...

Radisson Hotel Group Signs With Beachside Development Company to Open Radisson Blu Hotel and Residence Aruba in Spring 2020

Radisson Blu | September 23, 2019

Radisson Hotel Group today announced the signing of Radisson Blu Hotel and Residence Aruba. Beachside Development Company N.V. and Radisson Hotel Group plan to open the newly constructed hotel in the Spring of 2020. The hotel’s location in Palm Beach is within walking distance to gorgeous beaches, breath-taking scuba diving, outdoor malls and casinos. “We couldn’t be happier to announce this hotel signing on the beautiful island of Aruba,”said Ken Greene, president, Americas, Radisson Hotel Group. “This signing exemplifies our commitment to executing our five-year strategic plan by growing the Radisson Blu brand in key destinatio...

Good Hospitality Services Breaks Ground on Two Hotels in Southwest Florida

September 21, 2019

Valparaiso-based Good Hospitality Services has broken ground on two new hotels in southwest Florida that are both expected to open next year. The hotel management and development company, which has partnered with a number of hotel brands over the last 20 years, is building a 99-room Naples Home2 Suites by Hilton that's expected to open in the second quarter of next year. The hotel is just off Interstate 75 and close to attractions like Naples Zoo at Caribbean Gardens, Lowdermilk Park and Vanderbilt Beach. Good Hospitality Services also began work on the 118-room Fort Myers Home2 Suites by Hilton. The hotel is near destinations that incl...

Radisson Hotel Group Signs With Value One Hotel Operations for Three Brand New Radisson RED Hotels in Europe

Radisson RED | September 20, 2019

Brussels/Lisbon/Vienna - September 20, 2019 Radisson Hospitality AB, part of Radisson Hotel Group, is pleased to announce the signing of three brand-new hotels, all arriving under its Radisson RED brand as part of a strategic franchised partnership with developer and operator Value One Hotel Operations. The deal will see the brand make its debut in Portugal, with the Radisson RED Lisbon Olaias and the Radisson RED Porto – not forgetting a second Radisson RED in Vienna due to open in the Austrian capital. Elie Younes, Executive Vice President & Chief Development Officer for Radisson Hotel Group, says: “We are delighted to expand o...

Marriott International Signs Agreement to Introduce The Ritz-Carlton Brand to Montenegro

The Ritz-Carlton Hotel Company, LLC | September 19, 2019

BETHESDA, Md., Sept. 19, 2019 -- Marriott International, Inc., today announced the signing of a milestone agreement with Northstar D.O.O. to bring The Ritz-Carlton brand to Montenegro. Under the plan funded by Al Yasra, The Ritz-Carlton, Montenegro and The Ritz-Carlton Residences, Montenegro are scheduled to bring the brand's unrivalled elegance and legendary service to the country in 2023. "With its striking views of the Adriatic coast, Montenegro has quickly become a favourite Mediterranean destination for global travellers," said Carlton Ervin, Chief Development Officer – Europe, Marriott International. "The signing of The Ritz-Carlt...

YTL Hotels and Marriott International Sign Agreement to Bring the AC Hotels by Marriott Brand to Malaysia

YTL Hotels | September 18, 2019

New York, NY – September 18, 2019 – YTL Hotels and Marriott International have signed a Master Development Agreement to bring the AC Hotels by Marriott brand to Malaysia for the first time. The AC Hotels by Marriott brand will be exclusive to YTL Hotels for the whole of Malaysia. The signing of this agreement is one of many key milestones in the partnership between YTL Hotels and Marriott International as it continues to grow from strength to strength. AC Hotels by Marriott embraces European design and style across its international portfolio of distinctive properties in Europe and North and Latin America. Dato’ Mark Yeoh, Executiv...

Maryland Hotel Partners Plan July 2020 Opening of New Microtel Inn & Suites by Wyndham in Gambrills, Maryland

Microtel Inn & Suites by Wyndham® | September 18, 2019

GAMBRILLS, MD (September  9, 2019) – Maryland Hotel Partners, a limited liability company based in Gambrills, MD, today announced the development of a new Microtel Inn & Suites by Wyndham hotel at 2525 Evergreen Rd. Gambrills, MD 21054 to be managed by Aimbridge Hospitality. Located at Waugh Chapel Towne Center, the 79-room hotel will feature a complimentary continental breakfast as well as an indoor heated pool and offer guests queen singles, double queen, and queen suite accommodations. The hotel will include a business center and a fitness center. Rooms will feature expanded television lineup, free high-speed wireless intern...

Radisson Hotel Group Set to Debut Radisson RED in Johannesburg With Planned 2021 Opening

Radisson RED | September 17, 2019

Brussels/Johannesburg - September 17, 2019 - Radisson Hotel Group, one of the largest and most dynamic hotel groups in the world, is pleased to announce the signing of its second Radisson RED in South Africa – continuing the brand’s fast growing African and global expansion. Scheduled to open early 2021, the Radisson RED Johannesburg Rosebank will arrive and shake up the hospitality industry in Africa’s second largest city. The hotel brings the group’s African portfolio to almost 100 hotels in operation and under development. Rosebank is one of the fastest-growing business precincts in Johannesburg, offering an ideal opportunity fo...

Lakeland Hospitality Group Celebrates Topping-Out of SpringHill Suites by Marriott in Lakeland, Florida

SpringHill Suites by Marriott | September 16, 2019

LAKELAND, Fla. (Sept. 16, 2019) – Lakeland Hospitality Group announced today the topping out construction milestone of the SpringHill Suites by Marriott in downtown Lakeland. The topping out signifies the completion of the building’s preliminary structural framework with the placement of its final steel beam. The hotel broke ground on October 1, 2018 and is slated to open in mid-April 2020. “We are thrilled to bring the first SpringHill Suites by Marriott to downtown Lakeland, creating jobs and economic growth for the area,” said Wesley Barnett, manager of Lakeland Hospitality Group, and grandson of Publix Super Markets founder G...

Hospitality Financial Leadership: Creating and Using Staffing Guides

David Lund | September 16, 2019

By David Lund In our business it is no secret that labor is our single biggest expense. Last year the average hotel in North America, according to data collected from thousands of medium- and full-service hotels by a popular industry partner, was right around 50 percent of total revenues. What is a secret is how most hotels manage their largest cost. In this piece I am going to talk about creating and using a staffing formula for all scheduled positions. In addition, I will talk about the best practices as it relates to having and using staffing guides. First of all, let’s define what a staffing guide is and what constitutes a staf...

IHG Signs With Inmobiliaria Vistamar to Debut InterContinental® and Hotel Indigo® Brands in Peru

IHG ® | September 16, 2019

IHG® (InterContinental Hotels Group), one of the world’s leading hotel companies, today announces the debut of both the InterContinental® Hotels & Resorts and Hotel Indigo® brands in Peru, with two new properties now under construction in the capital city of Lima. The Hotel Indigo Lima Miraflores will also be the brand’s first property in South America. Both hotels are expected to open in early 2022 and will be owned by Inmobiliaria Vistamar and managed by IHG. The InterContinental Lima Miraflores and Hotel Indigo Lima Miraflores will be located next to each other in the vibrant epicenter of Miraflores, steps away from Larcomar,...

Ignite Hotels to Develop $20 Million Residence Inn by Marriott in Kennewick, Washington

September 12, 2019

The owner and operator of some of the biggest names in the Tri-City hotel industry will build Kennewick’s first extended-stay hotel near Columbia Center mall. Ignite Hotels will build a $20 million Residence Inn by Marriott behind the Red Lion Hotel, said Ignite managing member Gurbir Sandhu. Ignite also owns the Red Lion. He told the Tri-City Herald on Thursday the new four- to five-story hotel will be on a six-acre site off South Quinault Avenue, south of the mall. Hotel list keeps growing The new project is the fifth and latest hotel project for the Tri-Cities. Collectively, they will push the market to about 4,700 rooms, fro...

The Higgins Hotel & Conference Center Set to Open This November in the New Orleans Arts and Warehouse District

The Higgins Hotel & Conference Center | September 12, 2019

NEW ORLEANS (Sept. 12, 2019) - The National WWII Museum is pleased to announce the upcoming opening of its signature Hotel, The Higgins Hotel & Conference Center, Curio Collection by Hilton, which will officially open its doors this November. Bringing a storied era in American history to New Orleans’ Arts and Warehouse District, The Higgins Hotel and its state-of-the-art conference facility will serve as a premier destination for travelers as part of the exclusive Curio Collection by Hilton, the brand’s first in the state of Louisiana. The newest addition to the Museum’s growing campus is named after Andrew Higgins, the founder a...

Plains Management Group Plans The Ellison Hotel in Honor of Oklahoma City Literary Icon Ralph Ellison

September 12, 2019

A 120-room hotel named in honor of Oklahoma City literary icon Ralph Ellison is set to be built at Classen Curve with designs aimed at featuring local artists and authors. The hotel will be the first in Oklahoma under the Tribute Portfolio, Marriott International’s newest brand that accommodates independent hotels with a variety of designs and emphasis on driving “social scenes” for guests and locals. Developer Ryan Slater, managing partner of Plains Management Group, said the hotel has been in the works for five years and will be built on The Triangle section of Classen Curve just north of Whole Foods. The lifestyle boutique hote...

Scholar Hotel Group Acquires Historic Glennland Building in State College, Pennsylvania for Conversion to Boutique Hotel

September 11, 2019

The historic Glennland Building in downtown State College was acquired by Scholar Hotel Group in late August and will soon undergo work to become a “boutique, extended-stay hotel,” according to President and founder Gary Brandeis. The Campbell family, who has owned the Glennland Building for eight decades, transferred the property at an undisclosed price to Ardmore-based developer Scholar Hotel Group, which owns and operates the Hyatt Place in the Fraser Centre. As part of the agreement, the Campbells will become partners in the venture to restore and renovate the Glennland Building into a mixed-use space housing a boutique hotel and s...

Access Point Financial Continues Growth Trajectory With Senior Management Team Additions

Access Point Financial | September 11, 2019

Recognized leader in hospitality-focused lending taps seasoned real estate and finance executives for further expansion of management team  ATLANTA - September 10, 2019 - Access Point Financial, LLC (APF), a leading direct lender and specialty finance company focused exclusively on the hospitality industry, today announced the appointment of two new managing directors to its senior leadership team, including Justin Perry as Managing Director/Legal Affairs and Lori Tirado as Managing Director/Business Development. The new appointments come on the heels of senior leadership announcements made earlier this year, and are part of an overal...

Radisson Signs With Astri Group to Debut Radisson RED Tallinn in Estonia

Radisson | September 10, 2019

Brussels/Tallinn - September 10, 2019 - Radisson Hotel Group, one of the largest and most dynamic hotel groups in the world, is pleased to announce the signing of another Radisson RED property in Europe – continuing the brand’s global expansion. Due to open in late 2023, the Radisson RED Tallinn (Estonia) will arrive in the heart of the country’s lively capital as the group’s third hotel brand – alongside Radisson Blu and Park Inn by Radisson. The Estonian capital is a destination that’s rapidly growing in popularity. Last year, 4.65m international visitors traveled to Tallinn, taking the opportunity to experience the many crea...

Aleph Hospitality Signs Franchise Agreement for New Protea Hotel by Marriott in Kenya

Aleph Hospitality | September 10, 2019

DUBAI, United Arab Emirates, September 10, 2019 -- Dynamic independent hotel management company Aleph Hospitality has signed a franchise agreement with global hotelier Marriott International for a new Protea Hotels by Marriott hotel in Kisumu, Kenya. On behalf of the hotel owner, Bluewater Hotels, Aleph Hospitality will operate the new-build property under the Protea Hotels by Marriott brand. Bani Haddad, Founder and Managing Director of Aleph Hospitality, commented: “We are thrilled to work with Marriott International to bring the first internationally branded hotel to Kisumu, Kenya’s third largest city. “As Aleph Hospitality ...

Hospitality Financial Leadership: Creating Agreements vs. Having Expectations

David Lund | September 10, 2019

There is a popular saying in American spurned on by the slogan for a doughnut and coffee chain, "America Runs on Dunkin’." In this piece I am going to write about another thing that our western culture runs on even more than coffee and doughnuts, and that’s expectations. And just like coffee, and especially doughnuts, expectations are really bad for you. You are probably thinking I am nuts even creating the title Creating Agreements vs. Having Expectations. It sounds kind of Pollyanna. But I want to encourage you to read on. This is my second article on this topic, and I am especially passionate about showing you the distinction betwee...

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