Sonnenblick-Eichner Company Arranges $30,500,000 of First Mortgage Financing for Little Palm Island Resort & Spa, Florida Keys, Florida
Sonnenblick-Eichner Company | January 12, 2021
The St. Regis Cap Cana Resort & Residences Celebrates Groundbreaking in the Dominican Republic
St. Regis Hotels & Resorts | October 14, 2020
Finance & Development
Improving the Hotel Bottom-Line Begins With Knowing How to Read a P&L
HotStats | December 7, 2020
By Aggie Wojciechowska "Here's the bottom line..." It's a familiar turn of phrase that is succeeded by the speaker getting to the sum or crux of the issue—the overarching point. In running a hotel, getting to the bottom line means getting to what matters: profit. In order to arrive at that point, there are many inputs, both revenue and expense related, which mingle together to produce an outcome. The telling of that dance is recorded in the profit and loss statement (P&L), a signpost that records the story, of which the bottom line is the finale. How to read the story is the first step toward financial success. The P&L (al...
AMJ Group Plans First Hyatt-Branded Hotel in Gainesville, Florida
Hyatt Place | December 7, 2020
GAINESVILLE, Fla. (December 7, 2020) – AMJ Group today announced plans to develop the first Hyatt-branded hotel in Gainesville, Hyatt Place Gainesville Downtown. Expected to open in spring 2022, Hyatt Place Gainesville Downtown will bring the brand’s intuitive design, inspired by Gainesville’s uniquely creative and artistic culture, casual atmosphere and practical amenities, such as free Wi-Fi and 24-hour food offerings, to downtown Gainesville, adding to the historic neighborhood. With 145 guestrooms, a second-floor elevated pool, market, lounge, restaurant and 1,800 square feet of meeting space, Hyatt Place Gainesville Downtown wi...
IHG Signs With Siamese Asset to Bring Crowne Plaza to Bangkok
IHG | December 3, 2020
Franchise agreement signed with long-term partner for Crowne Plaza Bangkok Rama 9 InterContinental Hotels Group (IHG®) has signed a landmark franchise agreement with real estate experts, Siamese Asset to expand its world-renowned Crowne Plaza brand in Bangkok. The new Crowne Plaza Bangkok Rama 9 hotel will open in 2025in a prime city location, close to the Thai capital’s new central business district. The announcement signals the first time IHG has completed a franchise agreement in Thailand, as they expand their relationship with long-term partner Kew Green, a franchisee of more than 40 hotels in the UK. Kew Gree...
Edwardian Hotels London Plans April 2021 Opening of The Londoner
Edwardian Hotels London | December 3, 2020
December 3 2020 - As some of the most prolific players in the London hospitality scene, Edwardian Hotels London has not slowed in their quest to launch The Londoner, at a time when the industry needs it most. Taking center stage on Leicester Square, The Londoner will welcome arrivals from April 2021, not only placing guests in the world’s first super boutique hotel, but also at the heart of the West End theatreland. Boutique in feeling yet staggering in scale, The Londoner is set to transform the city’s hotel landscape. In excess of £300 million of investment towards the group’s most ambitious project to date, Edwardian Hotels London ...
Hilton Plans Three New Hotels in Portugal
Hilton | December 2, 2020
LISBON and MACLEAN, Va. - Hilton (NYSE: HLT) today announced plans to double its portfolio in Portugal with agreements to open three new hotels, representing a combined investment of around EUR 60 million. The additions of Hilton Porto Gaia, Legacy Hotel Cascais, Curio Collection by Hilton and DoubleTree by Hilton Lagoa Azores mark a significant milestone for Hilton and underscore the company’s confidence in the Portuguese market. Patrick Fitzgibbon, Senior Vice President, Development, EMEA, Hilton, said: “With more than 24 million visitors last year, Portugal is perfectly positioned to capture pent-up consumer demand as internation...
Hyatt Signs With Olympus Property Holding Affiliate to Develop Hyatt Regency London Olympia
Hyatt Regency | December 1, 2020
Situated in a new development in West London, Hyatt Regency London Olympia will mark the second Hyatt Regency hotel in the capital LONDON (December 1, 2020) – Hyatt announced today that a Hyatt affiliate has entered into a management agreement with an affiliate of Olympus Property Holding Limited to develop a new Hyatt Regency hotel in London. The 196-room hotel is slated to open in 2024 and will mark the eighth Hyatt-branded property and the second Hyatt Regency hotel in London. Hyatt Regency London Olympia will add to the current portfolio of Hyatt Regency hotels in the United Kingdom, joining Hyatt Regency Birmingham, Hyatt Regen...
The Asia Pacific Construction Pipeline, Excluding China, Remains Steady Year-Over-Year
Lodging Econometrics (LE) | December 1, 2020
December 1, 2020 – PORTSMOUTH, NH – According to the recent Asia Pacific, excluding China, Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), Asia Pacific’s total construction pipeline, excluding China, remained steady year-over-year (YOY) to end the third quarter of 2020 at 1,820 projects/385,194 rooms, up 2% by projects and down slightly by 1% by rooms YOY. While coronavirus cases surge again across Europe and the United States, the Asia Pacific region has been one of the few regions of the world to successfully control the spread of COVID-19. This has allowed for hotel construction to continue throughout the ...
Austin to Experience a 10% Increase in Hotel Room Supply Over the Next 12 Months
HotelMarketData | December 1, 2020
HotelMarketData (HMD) Index indicates over 4,000 new hotel rooms under construction to become available in the Austin region by the end of Q4 2021 01-December-2020 – Chicago, IL – Austin, Texas anticipates a 10% increase in the supply of hotel rooms by the end of the fourth quarter of 2021. The total supply will increase from 40,676 currently available to over 44,790 available rooms as 26 hotels are slated to open in the Austin region over the next 12 months. According to the HMD Index, which provides real-time supply and construction pipeline data for the US hotel industry, the supply of luxury rooms within Austin is expected to ...
Wyndham Hotels & Resorts Plans First Wyndham Grand Property in Australia
Wyndham Hotels & Resorts | November 30, 2020
SINGAPORE (November 30, 2020) –Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,000 properties across 90 countries, is ramping up its plans for expansion in Australia with the announcement of Wyndham Grand® Adelaide, a major new landmark that will become one of the tallest hotels in South Australia and the first Wyndham Grand hotel for the country when it opens in 2024. Wyndham Grand Adelaide will rise 120 meters from King William Street in Adelaide’s Central Business District, becoming a new icon for the city. The estimated AUD150 million skyscraper is being developed by Equinox Propert...
Hospitality Financial Leadership: A Bit About “You Sally”
David Lund | November 30, 2020
By David Lund By someone’s estimate there are roughly one million hotels in the world. I take it that number includes all the different kinds of hotels from small inns and hostels all the way up to your full-service multi-outlet mega hotel operations. For simple math I am going to estimate that half of this number of hotels fall into the small inns and hostels, and that leaves 500,000 of what I’m going to call real hotels. Of those 500,000 I am willing to bet that 50 percent do not know about or use “You Sally.” If we ramp that number up by multiplying the 250,000 real hotels by the average number of department managers, GMs and...
Developer R&F UK and Hyatt Plan for Park Hyatt London River Thames at Nine Elms
Park Hyatt | November 25, 2020
CHICAGO --Hyatt Hotels Corporation (NYSE:H) announced today that a Hyatt affiliate has entered into management agreement with R&F UK for a new Hyatt-branded hotel in London. The 203-room Park Hyatt London River Thames is expected to open in 2022 and will be located within R&F UK’s Nine Elms development on the south bank of the river. The addition of the hotel to the U.K. market signifies Hyatt’s continued brand growth into Europe’s leading cities. “The addition of the Park Hyatt brand to London is a key milestone for Hyatt,” said Felicity Black-Roberts, vice president of development Europe, Hyatt. “It has always been a...
Wyndham Hotels & Resorts Begins Development of the Wyndham Grand Adelaide in Australia
Wyndham Grand | November 25, 2020
PARSIPPANY, N.J. (November 25, 2020) – Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,000 properties across 90 countries, is ramping up its plans for expansion in Australia with the announcement of Wyndham Grand® Adelaide, a major new landmark that will become one of the tallest hotels in South Australia and the first Wyndham Grand hotel for the country when it opens in 2024. Wyndham Grand Adelaide will rise 120 meters from King William Street in Adelaide’s Central Business District, becoming a new icon for the city. The estimated AUD150 million skyscraper is being developed by Equin...
Marriott International Signs Agreement With Magellan Development Group to Open the St. Regis Chicago and the Residences at the St. Regis Chicago in Il...
Marriott International | November 25, 2020
Marriott International, Inc. today announced it has signed an agreement with Magellan Development Group to introduce its iconic St. Regis Hotels & Resorts brand to Chicago. The project is anticipated to include 191 hotel rooms – including 33 spacious suites – and 393 branded residences within the 101-story building. Previously under construction as the luxury Wanda Vista Hotel and Vista Tower, the property is being rebranded as the St. Regis Chicago and the Residences at the St. Regis Chicago. Expected to welcome its first residents in December 2020 and hotel guests by July 2021, the project will serve as a key property in the neighb...
Access Point Financial Provides FF&E Financing for Aloft Omaha Aksarben Village
Access Point Financial | November 23, 2020
Recognized leader in hospitality-focused lending closes loan for the property’s furniture, fixtures, and equipment during construction OMAHA, Neb. - November 23, 2020 – Access Point Financial, LLC (APF), a leading direct lender and specialty finance company focused exclusively on the hospitality industry, today announced the completion of an agreement with Center 60 Hospitality to finance the furniture, fixtures and equipment at the recently built Aloft Omaha Aksarben Village in Omaha, Nebraska. Center 60 Hospitality sourced Access Point Financial to secure a $450,000 loan to finance the hotel's furniture, fixtures, and equipme...
The University of Chicago Announces Newest Addition to South Side Campus: The David Rubenstein Forum Now Open for Booking
BENCHMARK® | November 19, 2020
The Forum Joins Portfolio of BENCHMARK®, a global hospitality company (Chicago, IL) November 19, 2020 -- The University of Chicago proudly announces that the David Rubenstein Forum, an innovative new meeting facility on its iconic South Side campus, is now open for booking. The Forum provides a dynamic convening hub for the kind of rigorous inquiry, vigorous debate, and academic collaboration that defines the University of Chicago, and makes it a destination for scholars, students, thought leaders and dignitaries from around the world. The building, designed by the acclaimed New York architecture firm of Diller Scofidio + Renfro and t...
Paramount Capital Advisors Secures $9.2MM Loan for Hotel Development
Paramount Capital Advisors | November 17, 2020
Paramount Capital Advisors is pleased to announce the closing of a $9,200,000 construction loan for the development of the 135 room Hampton Inn and Suites in Goddard, Kansas. The Property will be part of the Genesis Sports Complex, which when complete, will consist of 10 baseball fields hosting baseball and softball tournaments, an Aquatic Facility which will include pools for competition, as well as a water park, surfing machine, lazy river plus a 12,000 sq. ft. Health Club. The loan represents approximately 50% of the total cost of the project. The three-year construction loan was priced at a spread of 350 basis points over a Libor floor...
Access Point Financial Secures $8.85 Million to Refinance the Grand Rapids’ Delta Hotel by Marriott
Access Point Financial | November 16, 2020
Recognized leader in hospitality-focused lending completes full loan funding for Grand Rapids’ Delta by Marriott airport hotel ATLANTA - November 16, 2020 – Access Point Financial, LLC (APF), a leading direct lender and specialty finance company focused exclusively on the hospitality industry, today announced the completion of an agreement with Lodging Opportunity Fund REIT to refinance the Delta by Marriott in Grand Rapids, Michigan. As part of the deal, Access Point Financial secured $8.85 million for the Delta by Marriott Grand Rapids Airport property. Lodging Opportunity Fund REIT approached Access Point Financial to provide th...
How Has the Hotel Development Scene Evolved?
Kimberly Yoong | November 13, 2020
By Kimberly Yoong [embed]https://youtu.be/lTSbErjkg10[/embed] Hotel development, in a nutshell, involves the process of sourcing and negotiating hotel management or franchise contracts as well as investment opportunities, in order to drive the organic growth of a hotel business. As the tourism industry boomed, the term had earned itself somewhat ‘vogue’ status, especially amongst aspiring hoteliers. In an EHL webinar, EHL alumni Chris Anklin, Regional Vice President of Development at Hyatt Hotels Corporation and Ananth Ramchandran, Vice President of Global Corporate Finance & Strategy, Capital Investments & Transactions and ...
Kalahari Resorts and Conventions Opens America’s Largest Indoor Waterpark Resort
Kalahari Resorts and Conventions | November 12, 2020
ROUND ROCK, Texas - Kalahari Resorts and Conventions Round Rock is the new home of America’s Largest Indoor Waterpark Resort with 223,000 square feet of wet-and-wild fun. The all-under-one-roof experience offers world-class dining, a luxurious spa, live entertainment, diverse shopping experiences, a thrilling indoor theme park and a state-of-the-art convention center. The Round Rock resort is Kalahari’s fourth property and the brand’s first foray into Texas and the Southwest market. The new resort created approximately 1,000 jobs in 2020 and expects to hire additional associates as demand grows in 2021. “Everything is bigger in Te...
The Wellem Joins The Unbound Collection by Hyatt in Düsseldorf
The Unbound Collection by Hyatt | November 10, 2020
The property is named after Jan Wellem, who together with his wife Anna Maria Luisa of the House of Medici significantly impacted Düsseldorf to become the center of culture and fine arts that it is today. In the spirit of its namesake, The Wellem is home to an impressive collection of contemporary art displayed throughout the property and within guest suites, including works from internationally renowned artists such as Jeff Koons, HA Schult, and Julian Schnabel. Guests have access to the hotel’s exclusive private Art Concierge, who can introduce guests to the masterpieces on display within the property and also offer tours at the nearby m...
6 Ways Hotel Benchmarking Can Help the Hotel Industry Rebound
HotStats | November 10, 2020
The hotel industry won’t emerge from the financial chasm caused by COVID-19 overnight, but recent data already points to a rebound. Benchmarking could help quicken the pace of recovery. As the hotel industry continues to thrash its way through the pandemic, hotel benchmarking has the power to not only keep hotels afloat, but also help lift the sector to solid financial ground once again. How Hotel Benchmarking Is Reviving the Hotel Industry It’s no secret that the pandemic broadsided the hotel industry. Consider U.S. hotels, which recorded a gross operating profit per available room (GOPPAR) of $-9.87 in the third quarter, a 110% d...
Hyatt Signs With First Hotel Reisen AB for Hotell Reisen Sweden
The Unbound Collection by Hyatt | October 30, 2020
Located in Stockholm, the hotel will join The Unbound Collection by Hyatt brand, continuing to fuel Hyatt’s brand growth in Europe CHICAGO (October 30, 2020) – Hyatt Hotels Corporation (NYSE:H) announced today that a Hyatt affiliate has entered into a franchise agreement with First Hotel Reisen AB to open the first Hyatt property in Sweden. Hotell Reisen is currently undergoing extensive refurbishment and will be available on Hyatt's booking system on an unbranded basis as of December 1, 2020 with plans to join The Unbound Collection by Hyatt brand in early 2021. In the Nordics, the hotel will join the planned Grand Hansa Hotel in H...
IHG Signs With K.W. Group to Bring Holiday Inn and Holiday Inn Express Brands to Phuket’s Kata Beach
IHG | October 30, 2020
Double signing marks new partnership with Thailand hospitality experts IHG® (InterContinental Hotels Group), one of the world’s leading hotel companies, has signed a management agreement with K.W. Group to bring both the Holiday Inn and Holiday Inn Express brands to Phuket’s Kata Beach. Scheduled to open in 2022, the two hotels will be eye-catching additions to The Beach Plaza Phuket, the largest mixed-use development in Kata Beach, located just five minutes from the sea. Holiday Inn Phuket Kata Beach will have 134 rooms and offer guests a range of dining options and meeting facilities as well as a swimming pool and gym. Holi...
The U.S. Hotel Construction Pipeline Is Down Slightly in Q3 2020 but Remains Robust
Lodging Econometrics (LE) | October 26, 2020
October 26, 2020 – PORTSMOUTH, NH – According to the latest U.S. Hotel Construction Pipeline Trend Report by Lodging Econometrics (LE), the total U.S. hotel construction pipeline, at the end of Q3 2020, stands at 5,282 projects/655,026 rooms, down 7% by projects and 6% by rooms, year-over-year (YOY). As expected, the hotel construction pipeline is off more substantially in Q3 '20 as compared to Q2 '20. This is due largely in part to an acceleration of new hotel openings in Q2 '20 as a result of a cyclical high number of projects under construction in Q1 '20 that were delayed and later opened in Q2 '20. Secondly, new project announcements ...
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