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
GWCCA Plans Spring 2024 Opening of Signia by Hilton Atlanta
Georgia World Congress Center Authority | May 8, 2023
Finance & Development
Extended-Stay Hotels: One of the Fastest Growing Segments in the U.S.
Ryan Mark | May 22, 2023
By Ryan Mark While several new brands have emerged within the limited- and select-service segments over the past decade, the expansion of extended-stay brands was limited prior to 2021, and many of the hotels within this segment in the U.S. were dated. However, during the last two years, economy and midscale extended-stay brands have experienced a significant expansion. One of the most prominent developments is Choice Hotels International, Inc.’s mid-year 2022 agreement with ServiceStar Capital Management to develop at least 21 new Everhome Suites hotels throughout Colorado, Arizona, Utah, Nevada, and Florida. This deal represent...
Thompson Hotels Brand to Launch in Palm Springs, California
Thompson Hotels | May 22, 2023
CHICAGO (May 22, 2023) – Hyatt Hotels Corporation (NYSE: H) announced today plans for the 168-room Thompson Palm Springs, which will join the award-winning luxury lifestyle Thompson Hotels portfolio and mark the second Thompson Hotels property in California. Thompson Palm Springs is expected to open in late 2023 and will offer panoramic views of the San Jacinto Mountains and the city of Palm Springs. The development signals Hyatt’s commitment to growing its luxury lifestyle portfolio in key growth markets that matter to guests and World of Hyatt members. Developed by Dallas-based Hall Group and designed by interior design firm B2 A...
Hospitality Financial Leadership: Why You Need to Reconcile Your Credit Cards Every Day
David Lund | May 22, 2023
By David Lund The dreaded credit card reconciliation need not be such a big deal if we bite-size it. That is what this piece is all about: How and why you should balance your hotel credit cards daily. That is right – every day – and I mean you need to know the cards are balanced to three separate and connected points. First of all, just to properly date myself and reminisce just a little, I can remember mailing off the backs of the card imprints each day. I was working at the front desk, and we would separate the imprints by type and run a tape to balance to our front office Micros posting terminal. OMG, can you imagine? Then t...
AHLA Statement in Support of the Main Street Tax Certainty Act
AHLA | May 22, 2023
WASHINGTON (May 22, 2023) – American Hotel & Lodging Association (AHLA) President & CEO Chip Rogers is speaking out today in support of the Main Street Tax Certainty Act, which was introduced in the Senate by Sen. Steve Daines. “The Main Street Tax Certainty Act is a bipartisan effort to keep the Small Business Deduction from expiring in 2025. It would ensure permanent tax relief for millions of employers – including thousands of hotels – organized as sole proprietorships, S corporations, and partnerships,” said AHLA President & CEO Chip Rogers. “This critical legislation would provide hotel small business owner...
Accor Signs With APH Holding for Novotel Melbourne Box Hill
Accor | May 19, 2023
Accor, the largest hotel operator in Australia, has announced the signing of Novotel Melbourne Box Hill, a new-build hotel set to open in January 2025. The hotel will be located in the heart of Box Hill, one of Melbourne's most vibrant suburbs, and will offer guests a relaxing accommodation experience. Novotel Melbourne Box Hill will feature 132 guestrooms, conference and events facilities including a 200-capacity ballroom. Guests will be able to enjoy a variety of dining options, including an all-day dining restaurant, lobby bar/café and an incredible rooftop bar. The hotel will also feature a day spa, sauna, wellness centre and gym, and ...
Nikki Beach Global Continues Expansion with Upcoming Projects in Antigua, Baku and Muscat
Nikki Beach Hotels & Resorts Division | May 19, 2023
MIAMI, FLORIDA, May 19, 2023 – Nikki Beach Global, the international luxury lifestyle and hospitality brand, announced today the upcoming openings of Nikki Beach Resort & Spa Antigua and Nikki Beach Resort & Spa Baku scheduled for 2025. The property in Antigua will feature a hotel, residences and beach club –Nikki Beach Antigua – while the location in Baku will include a hotel and residences, the brand’s first standalone resort without a beach club. Nikki Beach also shared the news late last year that Nikki Beach Resort & Spa Muscat will be opening in early 2024 including a hotel, beach club – Nikki Beach Muscat – a...
IHG and AXA Life Insurance Company to Bring InterContinental Sapporo to Japan
IHG Hotels & Resorts | May 18, 2023
IHG Hotels & Resorts announced an agreement with AXA Life Insurance Company to open InterContinental Sapporo in late 2025. InterContinental Sapporo will be IHG’s fifth hotel in Hokkaido, its first luxury hotel In Sapporo and its eleventh InterContinental-branded hotel in Japan. InterContinental Sapporo will debut on the upper floors (9th to 14th floors) of a new building in the "AXA Sapporo Nakajima Park Project", which was announced today by AXA. Alongside the hotel’s two dining venues, lounge, bar, function room, indoor pool and gym, the hotel will feature 149 spacious guest rooms that range from a spacious 42 square metre lead...
Six Senses Partners With Grivalia Hospitality to Open First Greek Resort
Six Senses | May 18, 2023
BANGKOK – May 18, 2023 – Six Senses will open its first Greek resort in partnership with Grivalia Hospitality, one of the most significant investors in the ultra-luxury hospitality sector in Greece. It will be located on a southerly white-sand cove on Megalonisos, one of the 10 Petalioi islands and islets with some of the finest undiscovered beaches in the “Greek Maldives”. Six Senses Megalonisos will be a short boat ride from the port of Rafina, just across the mainland from Athens, or Marmari on Evia’s West coast. Whereas the island of Evia or Euboea was said to have been separated from mainland Greece by a strike from Poseidon�...
Hilton Partners With Intersped d.o.o. Sarajevo for Hotels in Bosnia & Herzegovina
Hilton | May 17, 2023
SARAJEVO, Bosnia & Herzegovina – Hilton (NYSE: HLT) today announced a franchise agreement with Intersped d.o.o. Sarajevo to open Hotel Neretva Mostar, Tapestry Collection by Hilton and Hampton by Hilton Sarajevo City Centre. Marking a country-first for Hilton in Bosnia & Herzegovina, the two hotels will be situated in prime central locations in Mostar and Sarajevo, with both hotels set to open by 2026. Hotel Neretva Mostar, Tapestry Collection by Hilton - Exterior Simon Vincent, executive vice president and president, EMEA, Hilton, said, “We’re thrilled to partner with Intersped d.o.o. Sarajevo to announce Hilton’s firs...
IHG to Open 12 ‘Next Generation’ Holiday Inn Express Hotels Across Saudi Arabia Under MDA With Tashyid for Hotel Operations
IHG Hotels & Resorts | May 17, 2023
Riyadh, Saudi Arabia, 17th May 2023: IHG® Hotels & Resorts, one of the world’s leading hotel companies with more than 6,000 hotels, across 18 distinct brands, has signed a Master Development Agreement (MDA) with Tashyid for Hotel Operations, which will see the development of 12 hotels and 2,500 keys under the Holiday Inn Express brand across the Kingdom of Saudi Arabia. . With Ministry of Tourism encouraging such investments in the Kingdom, the signing took place in the presence Mr. Mahmoud Abdulhadi, Deputy Minister for Destination Enablement. The agreement will allow IHG to expand and diversify its mainstream offering across Sau...
YOTEL to Debut in Thailand With Signing of YOTEL Bangkok
YOTEL | May 17, 2023
BANGKOK, THAILAND MAY 17, 2023 - YOTEL – the non-stop, global hospitality brand known for challenging the status quo – has announced its debut in Thailand with the signing of YOTEL Bangkok. The new-build hotel, opening in 2025, will be part of the cutting-edge Cloud 11, a 250,000sqm ground-up, mixed-use development set to be a playground for Southeast Asia’s artists, makers, and tech entrepreneurs. A pioneering sustainable project, Cloud 11 feature Thailand’s largest rooftop park acting as an urban lung in the city. The news signifies the third signing announcement for YOTEL in 2023 as part of YOTEL’s growth strategy to reach 50 ...
The Hotel Construction Pipeline in the Asia Pacific Region, Excluding China, Remains Steady at Q1 2023
Lodging Econometrics (LE) | May 17, 2023
May 17, 2023 – PORTSMOUTH, NH As seen in Lodging Econometrics’ (LE’s) most recent Asia Pacific Construction Pipeline Trend Report, excluding China, analysts state that the region ended the first quarter of 2023 with 1,885 projects/394,235 rooms in the total pipeline. The region currently has 943 projects under construction, with 213,900 rooms, and 300 projects with 59,170 rooms scheduled to start construction in the next 12 months. Project counts in the early planning stage hit record highs of 642 projects/121,165 rooms, up 12% by projects and 5% by rooms year-over-year (YOY). The Asia Pacific, excluding China, region also saw 171 ne...
Agilysys Announces Fiscal 2023 Fourth Quarter Record Revenue of $52.9M and Full Year Record Revenue of $198.1M
Agilysys | May 17, 2023
Annual Revenue Includes Recurring Revenue of $118.3M and Subscription Revenue Growth of 27.5% Annual Record Adjusted EBITDA of $30.3M, Free Cash Flow of $27.2M and GAAP EPS of $0.49 Fiscal 2024 Annual Revenue Expected To Grow To $230M to $235M With Full Year Adjusted EBITDA of 13% ALPHARETTA, GA – May 17, 2023 - Agilysys, Inc. (NASDAQ: AGYS), a leading global provider of hospitality software solutions that deliver High Return Hospitality, today reported operating results for its fiscal 2023 fourth quarter and full year ending March 31, 2023. Summary of Fiscal 2023 Fourth Quarter Financial Results • Total net revenue increased 13...
Hyatt Signs With AF Partners for Zoëtry Wellness & Spa Resorts Brand Debut in Greece
Inclusive Collection, part of World of Hyatt | May 16, 2023
CHICAGO (May 16, 2023) – Hyatt Hotels Corporation (NYSE: H) today announced that a Hyatt affiliate has entered into a management agreement with AF Partners to expand the Inclusive Collection – a global portfolio of distinct, luxury all-inclusive resort brands that is part of World of Hyatt – with the new Zoëtry Halkidiki. The luxury resort is expected to open in mid-2024 and will bolster Hyatt’s continued luxury brand growth in Europe’s leading travel destinations while strengthening the World of Hyatt value proposition. Located in Halkidiki, Greece in the vicinity of Sani, the resort will be perched cliffside offering swe...
Accor and Erth Real Estate Partner for Three New Hotels in Riyadh, Kingdom of Saudi Arabia
Accor | May 15, 2023
RIYADH, Saudi Arabia, May 15, 2023 -- Accor, a world-leading hospitality group, in partnership with Erth Real Estate Company, today announced that it will open three new hotels in Riyadh, Kingdom of Saudi Arabia, as part of a new master planned development project. The forthcoming luxury hospitality community will include a 230-key Raffles hotel, a 250-key Sofitel Serviced Residence, and a 60-villa MGallery resort, all set to open by 2027. The multi-faceted community will also include office towers, residential towers, and retail space, all built around a centrally located garden area. Erth Real Estate Company, the p...
IHG Signs With Groupe BMF and Groupe PFH for InterContinental Chantilly – Château Mont Royal in France
IHG Hotels & Resorts | May 15, 2023
The historic 107-key château, signed under a management agreement with Groupe BMF and Groupe PFH, will join the likes of InterContinental Paris Le Grand and InterContinental Lyon - Hotel Dieu – alongside three other InterContinental properties in Paris, Bordeaux and Marselle - as a flagship hotel for the brand in the country when it welcomes guests – following renovation – in 2024. It will also become IHG’s third luxury opening in France in the past five years, following InterContinental Lyon – Hotel Dieu in 2019, and Kimpton Paris St Honoré in 2021. This addition of another outstanding luxury property in a premium leisure and ...
IHG Strengthens Egypt Portfolio With Two New Signings in Cairo
IHG Hotels & Resorts | May 15, 2023
Cairo, Egypt - 15th May 2023: IHG Hotels & Resorts, one of the world’s leading hotel companies, has strengthened its partnership with one of the leading developers in Egypt, Arkan Palm for Real Estate Investment, to build two more hotels in the capital city — InterContinental West Cairo 205 scheduled for a January 2028 opening and the voco West Cairo 205 Suites, set to open by June 2026. The hotels will be strategically located as part of Arkan Palm for Real Estate Investments new mixed-use development — 205 an Arkan Palm Development — in West Cairo, one of the prime areas in Egypt. The one million sqm development will fea...
Hotel Construction Pipeline Growth in China Picks Up With the Return of Travel
Lodging Econometrics (LE) | May 15, 2023
May 15, 2023 – PORTSMOUTH, NH According to the latest China Construction Pipeline Trend Report from Lodging Econometrics (LE), China's total hotel construction pipeline stands at 3,659 projects/680,959 rooms at the end of Q1‘23, down 1% by projects and 3% by rooms year-over-year (YOY). While project counts may be down YOY, domestic and international travel gained significant momentum during the first quarter. The reopening of borders and national holidays has largely aided in the increased demand for travel accommodations, which is expected to continue this upward trajectory through the second quarter. As a matter of fact, in Q1, the coun...
Travel and Tourism Sector Deal Activity Down by 43% YoY in January-April 2023
GlobalData | May 11, 2023
A total of 219 deals* were announced in the global Travel and Tourism sector during January to April 2023, which is a 43% decline over 384 deals announced during the same period in 2022, finds GlobalData, a leading data and analytics company. Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Deal activity in the travel and tourism sector suffered a significant setback across several key markets and regions as deal-makers seemed to have become cautious amid recession fears, geopolitical tensions, and uncertain economic conditions.’ North America, the traditionally dominant region in terms of travel and tourism related deal ac...
HVS Webinar: Private Equity Steps Up Its Interest in Hotel Assets
Russell Kett | May 11, 2023
By Russell Kett Organised by HVS with, Bird & Bird, AlixPartners and EP Business in Hospitality, the latest in our series of webinars kicked off with positive feedback from an audience poll in which 41% of attendees said they expected investment in hotels to grow by 10% or more over the next 12 months with city centre, full service hotels and resort leisure hotels the sectors most likely to attract investor interest. AlixPartners’ managing director Graeme Smith outlined the significant funds being raised by private equity although the rising price of labour, energy and the cost of living had prompted investment activity to...
The Backend of the Latin America Hotel Construction Pipeline Grows and Renovations & Brand Conversions Tick Upward
Lodging Econometrics (LE) | May 11, 2023
May 11, 2023 – PORTSMOUTH, NH According to Lodging Econometrics’ (LE’s) Construction Pipeline Trend Report for Q1 2023, the hotel construction pipeline in Latin America, quarter-over-quarter, has increased 2% by projects and 3% by rooms. The Latin America hotel construction pipeline, at the close of Q1 2023, stands at 546 projects/90,139 rooms, however, down slightly 3% by projects and 2% by rooms year-over-year (YOY). Of the 546 projects/90,193 rooms, 226 projects/40,034 rooms are under construction throughout Latin America. Projects scheduled to start construction in the next 12 months stand at 160 projects/25,887 rooms, up 8% by p...
Choice Hotels Breaks Ground on Cambria Hotel Pearl District—Portland and Cambria Hotel Hillsboro
Cambria Hotels | May 10, 2023
ROCKVILLE, Md., May 10, 2023 -- Choice Hotels International, Inc. (NYSE: CHH) continues its nationwide expansion of Cambria Hotels in the Pacific Northwest with the official start of construction on Cambria Hotel Pearl District—Portland and Cambria Hotel Hillsboro. Expected to open in Spring 2025, the new properties will be added to Cambria's growing portfolio of hotels in travelers' favorite destinations. "The groundbreaking of the Cambria Hotels in Hillsboro and Portland represents another proud moment for the brand. This milestone marks Cambria's entry into the Pacific Northwest and commemorates yet another fantastic destination...
Hilton Signs With Zemi Hotels & Resorts for Zemi Miches All-Inclusive Resort, Curio Collection
Hilton | May 10, 2023
PUNTA CANA, Dominican Republic and MCLEAN, Va.– Today, Hilton (NYSE: HLT), announced the signing of a management agreement for the first all-inclusive Curio Collection by Hilton property in the Dominican Republic, the new-build Zemi Miches All-Inclusive Resort, Curio Collection by Hilton. Enviably located north of Punta Cana in the coastal town of Miches, the brand-new 502-room all-inclusive resort will welcome travelers to an area known for its pristine beaches, sprawling mountain landscapes and lush natural surroundings. The property is owned by Zemi Hotels & Resorts, S.R.L. and will be managed by Hilton. Expected to open in 2...
Arch Amenities Group Introduces Wage Insights, a Tool That Provides Salary and Wage Benchmarking Data for Hotels and Wellness Centers
Arch Amenities Group | May 9, 2023
ROCKVILLE, Maryland (May 9, 2023) – Arch Amenities Group, a full-service, global provider of wellness, amenity management and meeting services for commercial and residential properties, hotels, private clubs and pools, today announced the launch of its proprietary survey and salary benchmarking tool, Wage Insightssm. Wage Insights obtains and leverages data across the hospitality and wellness sectors to enable hotels and wellness centers to better formulate their employee compensation and growth strategies. Barry Goldstein, Arch Amenities Group chief executive officer, called the Wage Insights survey and reporting tools “some of the...
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