Finance & Development

/Finance & Development

Finance & Development

IHG and Auteles Kalionchiz S.A. de C.V Open the 128-room Holiday Inn® Hotel in Monclova, Mexico

Holiday Inn hotels | October 16, 2013

Monclova, Coah. - 16 October, 2013 – InterContinental Hotels Group (IHG) and Auteles Kalionchiz S.A. de C.V announced the opening of the Holiday Inn® Monclova hotel. This is the first Holiday Inn hotel in Coahuila and is the fifth IHG®-branded hotel for the state. Other IHG®-branded hotels in Coahuila include a Crowne Plaza® hotel and three Holiday Inn Express® hotels. The scale and diversity of the IHG family of brands means that our hotels can meet our guests' needs whatever the occasion. "We are very happy to welcome the Holiday Inn brand to the State of Coahuila and especially to the city of Monclova, one of Mexico's key comm...

Prosperity Equals Accuracy When it Comes to Hotel Budgets / Robert Mandelbaum & Viet Vo

Robert Mandelbaum and Viet Vo of PKF Hospitality Research | October 15, 2013

Since 2001, PKF Hospitality Research, LLC (PKF-HR) has assessed the accuracy of hotel budgets. Over the past 12 years, one trend has become very predictable. During times of industry prosperity, hotel budgets are extremely accurate. During the depths of the 2001 and 2009 industry recessions, hotel managers underestimated their revenue levels by an average of 10.4 percent, while the profit deficits averaged 23.4 percent. Conversely, when market conditions were on the rise, the budget variance for revenues was a positive 1.2 percent on average, while profit goals were exceeded by 3.4 percent. For the purpose of this analysis, profits are ...

IHG Expands the Holiday Inn Express Brand in Brazil with Five Upcoming Openings in 2014 and 2015

Holiday Inn Express | October 11, 2013

Slated for Belem-Ananindeua, Porto Velho, Marilia and Rio Branco and a Newly-Signed Holiday Inn Express® Hotel in Manaus MIAMI (Oct.11, 2013) - InterContinental Hotels Group (IHG) today announces that the Holiday Inn Express® brand is expanding in Brazil with the openings of the Holiday Inn Express® Belem-Ananindeua hotel, the Holiday Inn Express® Porto Velho hotel and the Holiday Inn Express® Marilia hotel expected to open later this year. IHG also has plans for a new-build Holiday Inn Express® Manaus hotel, scheduled to open in 2014. The Holiday Inn® Express brand is the ideal choice for the smart traveler, offering them a grea...

Hotel Equities Adds Boutique 63-room Wyvern Hotel in Punta Gorda, Florida to Management Portfolio

Hotel Equities (HE) | October 8, 2013

Atlanta, GA - October 8, 2013 - Atlanta-based Hotel Equities (www.hotelequities.com) added the management contract for The Wyvern Hotel (www.thewyvernhotel.com), a 4-star boutique hotel in Punta Gorda, Florida, to its portfolio. This 63-room hotel, located on South Florida's Gulf Coast, delivers luxury without pretense as it provides upscale service and amenities. The Wyvern Hotel marks the first addition for Hotel Equities after the firm completed a joint venture with Alliance Hospitality that increased their portfolio to more than 55 hotels. With an artfully landscaped rooftop pool and lounge area, the hotel offers clear views of Char...

1375-Room Luxury, New York Hotel Confirms General Contractor and Brand

BuildCentral | October 7, 2013

Hotel-Online and BuildCentral Add/Update 193 Hotel Projects to the New Hotel Construction Projects Database Chicago, IL. October 7, 2013 - Hotel-Online and BuildCentral have added or updated 193 hotel projects in the last two weeks to Hotel Construction, a nationwide database of hotel construction projects, openings, and key decision makers (Owner/Developers, Architects and Contractors). These proposed hotels are still in the planning stages. Now is the perfect time to have your product drawn into plans, or offer construction services: Johnnie Dodds Hotel (Mount Pleasant, SC) Boutique Hotel (Ocala, FL) Saxony Life Advocate Center ...

IHG and Bierwirth & Kluth Hotelmanagement GmbH to Develop Five Hotels Across Germany

IHG (InterContinental Hotels Group) | October 7, 2013

7 October, 2013 - InterContinental Hotels Group (IHG®), one of the world's largest hotel companies, has concluded a multi-development franchise agreement with Bierwirth & Kluth Hotelmanagement GmbH to develop five hotels across Germany. The first hotel under the agreement – Holiday Inn Hamburg - City Nord – has already been signed. This is IHG's sixth multiple development agreement (MDA) with a partner in Germany, continuing the momentum of the growth of its brands in Europe. The hotels signed under this agreement will include up to four of IHG's hotel brands – Hotel Indigo®, Crowne Plaza®, Holiday Inn® and Holiday Inn Exp...

Marriott CEO Tells U.S. Congress: Get Back to Work; Shutdown Is a Failure of Political Leadership

Arne Sorenson, President & CEO of Marriott International | October 4, 2013

by Arne Sorenson, President & CEO of Marriott International Marriott International's headquarters is just a few miles north of America's Capitol, the epicenter of the profoundly disappointing federal government shutdown and a looming confrontation on the debt ceiling. The impacts ripple well beyond Washington, D.C. and past U.S. borders. Others from around the world are watching this circus, which is embarrassing at best. Just like in each of the last few years, we are confronted with a failure of our political leadership that threatens an economy that wants to turn the corner to higher growth and employment. With the major attracti...

Revenue Strategy and Innovation Focus of the First Hotel Revenue Strategy Summit (RSS)

Duetto | October 3, 2013

Includes an Unprecedented Group of Speakers, Thought Leaders Powered by Duetto, the RSS Will be Held November 12, 2013 at the Affinia Manhattan Hotel New York, October 3, 2013 ... Silver Hospitality Group, LLC (SHG) announced selected speakers and session topics for the inaugural Revenue Strategy Summit (RSS), a gathering of thought leaders and practitioners who will examine forces reshaping the hospitality industry and discuss how marketing and technology must evolve to meet new demands. Distinguished speakers and panel participants will include: Lee Pillsbury, Chief Executive Officer of Thayer Lodging Cindy Estes Green, CEO and Co-...

Death by Data: How Misusing Hotel Analytics Data Can Hurt Your Revenue / Vikram Singh

Vikram Singh | October 2, 2013

Analytics is an amazing and powerful tool. Voltaire/FDR/Stan Lee (depends who you ask) has said, "With great power comes great responsibility." This is particularly relevant to Analytics users in the hotel industry who are making marketing decisions. Unfortunately, a lot of people misuse the power of hotel analytics, and end up hurting their hotel asset by limiting its online revenue or wasting precious time and marketing dollars. Here are some changes you should make in your online marketing strategy to avoid common, yet costly, mistakes. Note: Google Analytics is one of my favorite Google products of all time. I have been evangelizing...

Andaz Maui Wailea Opens with Staff of 300 and InvoTech for Fast, Reliable RFID Uniform Management

Andaz Maui at Wailea Resort & Spa | October 2, 2013

Luxury Property Uses InvoTech Systems' Wireless Handheld Readers to Manage 3,000 Uniforms. Operates with Less Labor; Counts and Tracks Hundreds of Uniforms in Seconds. LOS ANGELES, CA - October 2, 2013 - InvoTech Systems, Inc. announced Hyatt's Andaz Maui at Wailea installed the InvoTech UHF-RFID Uniform System to automate management of 3,000 uniforms for its staff of 300. The uniform management system is integrated with the U-Pick-It automated uniform delivery system from White Conveyors that puts uniforms in employees' hands quickly. InvoTech's system includes UHF-RFID handheld readers that enable instant uniform tracking via the prop...

Hotel AG Closes 5 Hotel Transactions in September

Hotel AG | October 1, 2013

ATLANTA - October 1, 2013 - Hotel AG announced today the firm closed 5 hotel transactions in the month of September. The hotels sold consisted of a large Hampton Inn & Suites in the Northeast, a 12-story Fairfield Inn & Suites located in a top 25 CBD market, a Sleep Inn in Florida, a university-owned boutique asset in the Southeast and a high-end independent hotel located in an affluent beach resort. Keith Thompson, principal of Hotel AG, commented, "These recent transactions represent a fairly broad ownership base and continue to demonstrate the strength of today's hotel transaction market." ...

Hotel Equities Appoints Joe Reardon as Vice President of Business Development

Hotel Equities (HE) | October 1, 2013

ATLANTA, GA (October 1, 2013) -Atlanta-based Hotel Equities (HE) www.hotelequities.com recently named Joe Reardon to the position of Vice President of Business Development. He oversees the development team, negotiates management contracts and evaluates the financial feasibility of the firm's acquisition opportunities. His responsibilities include utilizing the existing portfolio of 50+ hotel assets as a platform for rapid growth with current and potential owners. "Joe has a proven track record as a highly-skilled and capable leader who understands both hospitality and real estate and knows how to put together a deal," said HE Chief Oper...

Three More Holiday Inn® Brand Family Hotels Signed in the UK

IHG (InterContinental Hotels Group) | September 27, 2013

27 September, 2013 - InterContinental Hotels Group (IHG®), one of the world's largest hotel companies is delighted to announce three new additions to the Holiday Inn brand family in the UK: Holiday Inn Express® Edinburgh Airport, Holiday Inn Darlington - North A1M, Jct.59 and Holiday Inn Express London - Ealing, reflecting the company's strong position in the midscale market in Europe. Launched in 1991, the Holiday Inn Express brand is one of the largest and fastest growing brands in the hotel industry, opening hotels at a rate of two per week on average. With over 2,200~ hotels in 31 countries~ around the world; the brand is one of I...

Cannon Corporate UK Ltd and IHG to Open the Crowne Plaza® London – Albert Embankment in Spring 2015

IHG (InterContinental Hotels Group) | September 25, 2013

25 September, 2013 - InterContinental Hotels Group (IHG®) one of the world's largest hotel companies today announced the signing of Crowne Plaza® London – Albert Embankment, a first for the brand in London's Embankment. The hotel is due to open in the spring of 2015. Operating under a franchise agreement with Cannon Corporate UK Ltd, the upscale hotel is a new build property featuring in excess of 130 guest rooms and a restaurant overlooking the River Thames. Albert Embankment is undergoing significant regeneration and due to its close proximity to Lambeth Palace, the Houses of Parliament and the corporate centres of Waterloo and We...

Marriott Chief Operations Officer Robert “Bob” McCarthy to Retire in February 2014

Marriott International, Inc. | September 25, 2013

Other Senior Executives to Assume Broader Responsibilities BETHESDA, Md., Sept. 25, 2013 -- Marriott International, Inc. (NYSE: MAR) announced today that Robert J. McCarthy, chief operations officer of the company, will retire at the end of February 2014 after 38 years of distinguished service. McCarthy began his career as a waiter in a Marriott restaurant outside Philadelphia while attending Villanova University. He was promoted into increasingly higher level positions, including senior vice president, Northeast Region; executive vice president, operations planning and support; president, North American lodging operations; and group pr...

De Jongh: Government Issues Expression of Interest for Potential Hotel Development on Water Island

REVPAR International | September 25, 2013

Community input into development that affects residential communities is an issue that Governor John P. de Jongh Jr. admits is personal to him. Water Island is no exception to that rule and earlier this month, de Jongh held a meeting with Water Island residents to address management issues and to announce the issuance of an Expression of Interest for potential hotel development on the island. "We believe that a boutique hotel on Water Island not only provides for further economic activity on the island but a first-step on rebranding our offerings through a public-private partnership that leverages government resources. But, success is o...

Work Has Begun in the UK for the 452-room InterContinental London The O2 to Open in 2015

IHG (InterContinental Hotels Group) | September 25, 2013

25 September, 2013 - InterContinental Hotels Group (IHG®) is proud to announce the signing of its third InterContinental property for London: InterContinental® London The O2. The new hotel is scheduled to open in 2015 when it will take its place alongside its sister properties InterContinental London Westminster, which has been open for less than a year, and InterContinental London Park Lane which is a long-established luxury destination in the Capital. The 452-room InterContinental London The O2 will operate under a franchise agreement with Meridian Hotel Operations Limited and will be managed by Arora Hotels. The hotel will feature ...

Development Begins for 212-room Holiday Inn Express Jakarta Cikini to Open in Indonesia in 2014

IHG (InterContinental Hotels Group) | September 25, 2013

Jakarta, 25 September 2013: InterContinental Hotels Group (IHG), one of the world's leading hotel companies, and PT Imesco Sejahtera Utama, have signed an agreement to develop Holiday Inn Express Jakarta Cikini, to open in 2014. In line with IHG's robust expansion plans in Indonesia, the 212-room hotel is part of a pipeline of 13 Holiday Inn Express hotels slated to open in the country, out of a total of 19 scheduled to open in South East Asia over the next few years. Holiday Inn Express is one of the largest and fastest growing hotel brands in the world. Since it first launched globally in 1991, it has grown quickly and there are now 2...

Developers Revealed for Boomerang Lodge Redevelopment Hotel in Aspen, Colorado

BuildCentral | September 23, 2013

Hotel-Online and BuildCentral Add/Update 145 Hotel Projects to the New Hotel Construction Projects Database Chicago, IL. September 23, 2013 - Hotel-Online and BuildCentral have added or updated 145 hotel projects in the last two weeks to Hotel Construction, a nationwide database of hotel construction projects, openings, and key decision makers (Owner/Developers, Architects and Contractors). These proposed hotels are still in the planning stages. Now is the perfect time to have your product drawn into plans, or offer construction services: La Quinta Inn & Suites (College Station, TX) Philadelphia Avenue Hotel (Ocean City, MD) 233...

NOW is the Best Time to Buy or Sell a Hotel in Many Years

September 23, 2013

For the most recent update on this topic, click here By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 23 September 2013 A version of this article was first published in the September 21, 2013 issue of Hotel Business. The number of hotel transactions is up by more than 50% for the first 6 months of 2013 over the comparable period last year, and is expected to top $18 billion for 2013, according to Jones Lang LaSalle. And HVS reports that the sales transaction volume of hotels is now intersecting its 22-year moving average, and predicts that hotel values will continue to grow at an average o...

IHG and TAJ RP Sign Deal to Open the 280-room Crowne Plaza Dubai Marina in 2016

IHG (InterContinental Hotels Group) | September 23, 2013

Dubai, UAE, 23 September 2013: IHG (Intercontinental Hotels Group), one of the world's leading hotel companies, has signed an agreement with TAJ RP International Limited, part of RP Group of Companies, to open Crowne Plaza Dubai Marina in 2016. Located in the cosmopolitan Dubai Marina area, the 3,037 square-metre hotel site sits next to Dubai Marina Mall and within walking distance of the picturesque pedestrian promenade, which borders the waterway lined with vibrant cafes and restaurants. The property will also be in close proximity to the business hub made up of Dubai Media City, Dubai Internet City and Knowledge Village. In line with...

Robert T. Koger—Hotel Lawyer with the FBI Affidavit that Helped Put Koger Behind Bars

September 20, 2013

For the most recent update on this topic, click here By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 20 September 2013 The hotel world has been fascinated by the civil litigation and criminal actions swirling around the former President and owner of Molinaro Koger, Robert T. Koger. In response to many inquiries, the hotel lawyers of JMBM's Global Hospitality Group® has posted the 17-page affidavit sworn to by an FBI special agent with more than 17 years of experience, most of it in investigating white collar crimes like those charged against Koger. If you just want the highlights, see th...

IHG Opens 104-room Holiday Inn Express Hotel & Suites Phoenix North/Scottsdale in Arizona

Holiday Inn Express | September 20, 2013

20 September, 2013 - ATLANTA - InterContinental Hotels Group (IHG) [LON: IHG, NYSE: IHG (ADRs)] announces the opening of the Holiday Inn Express® Hotel & Suites Phoenix North/Scottsdale. The four-story 104-room hotel adds to IHG's portfolio in the Phoenix and Scottsdale areas. The hotel is located at 4575 E. Irma Lane at the intersection of Loop 101 & Tatum Blvd. in Scottsdale, Ariz. "Holiday Inn Express hotels are designed to be the smart choice for value-conscious business and leisure travelers," said Heather Balsley, senior vice president, Americas Holiday Inn® brand family. "With more than 2,200 properties worldwide and 45...

How to Drive Data for Better Decision-Making and Customer Fit

EyeforTravel | September 19, 2013

Sep 19, 2013 - Setting up a data infrastructure and reaping the benefits is a journey. However, if you use data efficiently to react to market conditions faster, then chances are you could understand your customers better, while also driving incremental revenue. EyeforTravel's Ritesh Gupta investigates If there is one thing that travel suppliers and intermediaries can agree on it is that data is central to decision-making. Furthermore, while it is difficult to define what makes a company truly data-driven, it is also clear that the industry is moving toward measurable ROI-driven models. For instance, in the past it would be acceptable f...

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