Hospitality Financial Leadership: Why Prioritizing Employee Development Has the Best ROI for Owners Too
David Lund | March 27, 2023
Financial Future Is Bright at the NOUN Hotel
Aptech Computer Systems Inc. | February 15, 2023
Finance
ADA Compliance & Defense Lawyer: ADA Website Accessibility Lawsuits Escalate
Jim Butler | October 18, 2016
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Author of www.HotelLawBlog.com Click here for the latest articles on ADA Compliance & Defense. JMBM's ADA Defense & Compliance team takes the ADA seriously, and we recommend that our clients take a proactive approach in identifying and solving potential problems before they become lawsuits. For many years now, we have called attention to the importance of making website ADA-compliant, but hotels, resorts, restaurants, banks, retailers and other owners and operators of commercial real estate continue to be vulnerable to one of the more recent and serious waves of...
Budget Season: Planning Ahead for 2017
Natalie Francoeur | October 18, 2016
By Natalie Francoeur As we help our hotel clients wade through budget season each year, we all wonder if other hoteliers have the same concerns that we do. What are the owner's expectations? Are their expectations reasonable? Can the operations team meet these expectations? There seem to be some perpetual issues that creep up annually – how do we manage the increasing cost of providing healthcare coverage to employees; what will be the impact of new hotel supply in our markets, etc. But each year, there also seem to be a different set of issues that come to the forefront, usually based on changes in laws or regulations, current tr...
Hotel Fights Back: Judge Dismisses High Frequency Litigant’s ADA Pool Lift Case
Jim Butler | October 17, 2016
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Author of www.HotelLawBlog.com Click here for the latest articles on ADA Compliance & Defense. JMBM's ADA Defense & Compliance team takes the ADA seriously, and we recommend that our clients take a proactive approach in identifying and solving potential problems before they become lawsuits. But sometimes serial plaintiffs just go too far with claims that cannot be justified and which violate the purpose and spirit of the ADA. Today, my partner Marty Orlick talks about a recent case that offers property owners and operators some relief against this type of harass...
Bedrooms to Showrooms: Blurring the Boundaries Between Hotels and Retail
JLL Real Views | October 17, 2016
By Kelsey Burgess Ever stayed in a hotel room where the mattress is so comfortable you wished you could take it home? It's a concept that retailer West Elm is exploring with its new chain of boutique hotels all kitted out with the brand's bedroom furniture ranges, light fixtures and linen along with locally commissioned artwork to give each room an individual touch. And while there won't be price tags hanging from the handles, guests will be able to buy any furnishings that catch their eye through the company's website or app, enabling them to bring the best of their travel experience into their home environments. For West Elm, which pl...
The One Thing You Can Control With TripAdvisor Reviews
ALICE | October 12, 2016
The influence of reviews on traveler's booking behaviors is well established. Some 95% of travelers consult reviews before making a purchase. And data from TripAdvisor reveals almost all of their visitors consult some 6-12 reviews before purchasing a trip. Review sites' direct impact on a hotel's bottom line has also been well documented. One recent study by Cornell University found that if a hotel increased its review score by 1 point on a 5-point scale, it could increase its prices by 11.2 percent without sacrificing occupancy or market share. TripAdvisor is the undisputed king when it comes to online hotel reviews. The site reaches o...
The William Vale Installs Aptech Computer Systems
Aptech Computer Systems, Inc. | October 12, 2016
Brooklyn's Newest Full-Service Hotel Implements Profitvue® Enterprise Back Office Pittsburgh, PA – October 12, 2016 – Aptech Computer Systems announced that The William Vale, in Brooklyn NY, installed Profitvue to manage financial processes and property accounting. The visually-striking 183-room William Vale is a new-build property that opened in summer 2016. Aptech is the leading provider of hospitality software for business intelligence, budgeting, and enterprise financial accounting. Click here for more on Aptech's products and services. "We installed Profitvue to manage pre-opening accounting in December 2015 and us...
JMBM’s Global Hospitality Group® Announces EB-5 Financing and Closing of Two Recent Deals for Great Wolf Resorts and Wurzak Hotel Group
Jim Butler | October 10, 2016
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Author of www.HotelLawBlog.com Los Angeles—The Global Hospitality Group® of Jeffer Mangels Butler & Mitchell LLP is pleased to announce the recent closing of two hotel deals for their clients, Great Wolf Resorts and Wurzak Hotel Group. Jim Butler, Chair of the Global Hospitality Group®, and David Sudeck, a senior member, led the transactions and associated EB-5 financing. Great Wolf Resorts recently closed the purchase of property in LaGrange, Atlanta, for a resort that will include a 93,000 square foot water park, several restaurants, and 456 suites. ...
Paramount Lodging Advisors Sells Quality Inn & Suites Houston – Westchase
Paramount Lodging Advisors | October 5, 2016
Paramount Lodging Advisors (PLA) is pleased to announce the sale of the Quality Inn & Suites Houston - Westchase. PLA exclusively represented the special servicer seller, with Managing Directors Adam Montufar, Brent Clemens, Bennett Webster and Associate Subu Thiagarajan leading the efforts. "We are extremely pleased with result of this auction and were pleasantly surprised by the more than 460 executed confidentiality agreements," stated Thiagarajan. "This transaction marks another successful trade for PLA on Ten-X and our 19th total sale on behalf of the seller. We were informed the confidentiality agreement count set a record for...
Upselling: Icing on the Revenue Management Cake
New Castle Hotels & Resorts | October 5, 2016
by Don Urbahn, Vice President Revenue Management, New Castle Hotels & Resorts Have you ever been pleasantly surprised to find your favorite dessert hiding in the refrigerator following a satisfying and wholesome meal? You know that feeling of delight, even though you're really not hungry? In the discipline of hotel revenue management, upselling is just like that unexpected dessert. It's icing on the cake of a solid, satisfying, profitable ADR. Here are a few ways smart hoteliers can ensure a steady stream of sprinkles and cherries. At time of reservation: Take the time to understand the potential guest and their reason for travel....
EB-5 Regional Center Program Extended Until December 9, 2016 by Continuing Resolution
Jim Butler | October 5, 2016
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Author of www.HotelLawBlog.com Déjà vu all over again? Last Thursday, President Obama signed the Continuing Resolution, or CR, passed by Congress for the principal purpose of avoiding the shutdown of the Federal government by continuing to fund government operations and most of its agencies at 2016 levels through December 9, 2016. It is hoped that at that time, Congress and the President will be able to agree upon the budget for the entire fiscal year ending September 30, 2017. As last year, the Continuing Resolution is a temporary solution, continuing fun...
Paramount Lodging Advisors Assists in the Sale of the Detroit Metro Airport Marriott
Paramount Lodging Advisors | September 28, 2016
Paramount Lodging Advisors (PLA) is pleased to announce the sale of the Detroit Metro Airport Marriott. PLA exclusively represented the seller in the transaction, with PLA Managing Directors Bennett Webster, Brent Clemens, and Adam Montufar leading the marketing efforts on the 249-room full-service hotel. "Our team was pleased with the activity on the sale. The marketing process resulted in approximately 190 confidentiality agreements and nearly 20 offers," noted Montufar. "We remain bullish on Detroit and the broader Metro area and we look forward to continued success in the market. We believe Detroit is one of the few top-20 MSA's tha...
5 Ways for Hotels to Counter Growing Pressure from Review Sites, the Sharing Economy and the Expanding Technology Stack
ALICE | September 27, 2016
Hotels are under increasing pressure to evolve. Review sites, the sharing economy, and even the rise of dedicated hotel technology are making adaptability a hotel's most valuable asset. Here's five ways hotels can respond. With TripAdvisor's growing impact on bookings, hotels are under a microscope like never before Guests are evaluating and sharing service observations publicly, divulging insights that previously lived anonymously in the hotel's review systems and on paper rating cards. Because some 80% of guests consult 6-12 TripAdvisor reviews before booking, these ratings now have a direct bearing on ADR. Previously, a hotel's marke...
Revenue Management: A Brief History
Howard Hian | September 26, 2016
By Howard Hian When I began in the hotel business in the early 1970s in San Diego, revenue management wasn't even a phrase. In its primitive state, it was a loose practice. When more tourists visited, a hotel would simply raise room rates. In summer how we loved the people from Arizona! Then there were weekends and special events (anyone remember the Cool Jazz Festival?). Sometimes minimum stays were even required over holidays. Wow! Someone much earlier in the history of economic theory called it "supply and demand". Then about 15 years ago or so, some suit dreamed up the position of Revenue Manager. Usually, the front desk or re...
Paramount Lodging Advisors’ Interns Awarded Highest Honors At DePaul University’s Real Estate Department Fall Reception
Paramount Lodging Advisors | September 23, 2016
CHICAGO, IL – The Paramount Lodging Advisors (PLA) team is proud to recognize the achievements of DePaul University interns Lindsey White and Daniel Jackson. Both DePaul University students were awarded the most prestigious scholarships from DePaul University's Real Estate Department and the Kellstadt Graduate School of Business. Lindsey was granted the DePaul Real Estate Alumni Association Scholarship, which was given to an undergraduate student whom exemplified high-achievement in the real estate program. Lindsey will graduate early in 2018, when she is sure to take the commercial real estate industry by storm. Daniel received T...
12 Reasons Travel and Hospitality Brands Should Boost Their B2B Content Marketing in 2017
Alan E. Young | September 22, 2016
By Alan Young It's hard to believe that summer is just about over and we are entering the homestretch of 2016 --and planning time for 2017. I am sure you already see the paradigm shift in the travel and hospitality technology industry ---and it is truly tougher than ever to break through the noise. There's a reason why CMOs at the largest tech brands report that content marketing is the second most important initiative, only behind measuring ROI. In fact, 75% of marketers are increasing investment in content marketing in 2017. These days, if you want your business to succeed, it's not enough to just produce and deliver your product &nda...
How Foreign Investors Can Avoid Hidden Traps Of U.S. Taxation On U.S. Investments
Jim Butler | September 15, 2016
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com Asians love the U.S. as a place to live, buy homes, invest, go to school, and run their businesses. Over the past five years, we have seen an unprecedented increase in foreign investment in the US — particularly as a new flood of Chinese investors joins the tide of Japanese, Korean, Malaysian and other Asian investors. My partner Scott Harshman counsels foreign investor clients from all over the world. He tells them that it is urgent to get an early grip on potential U.S. tax consequences and structures when first contemplating thei...
Paramount Lodging Advisors Opens St. Louis Office and Welcomes New Agent
Paramount Lodging Advisors | September 8, 2016
ST. LOUIS, MO—Paramount Lodging Advisors (PLA) is pleased to welcome aboard new team member, Beau Mullenix. Beau will be working out of PLA's new St. Louis office. Beau's focus is on individual and portfolio transactions across the country with a vast knowledge of the Midwest and West region hotel markets. He brings with him over 16 years of experience as an owner/operator in the Hotel Industry with an expertise in overseeing all aspects of property management. This includes superior financial results, P&L analysis, budgeting, capital improvements, and quality assurance. Prior to Paramount, Beau held positions in several manag...
Paramount Lodging Advisors Arranges the Sale of 649 Jones Street Formerly “Halcyon Hotel” Located in San Francisco, California
Paramount Lodging Advisors | September 7, 2016
Paramount Lodging Advisors (PLA) is pleased to announce the successful sale of the property at 649 Jones Street, formerly known as the "Halcyon Hotel" located in San Francisco. Scott Griemsmann, Senior Managing Director and Subu Thiagarajan, Broker Associate of the West Coast office represented the owners in the transaction. The property sold for a purchase price of $7 million/$259,259 per room. "This is a tremendous price for the owners and the purchasers achieved a very specific goal with the purchase," commented Griemsmann. The four-story, 27-room, SRO hotel opened in 1912 and was converted to alternative housing in 2013. The hotel r...
Measuring The Value of Forecasting Accuracy in Today’s Evolving Hotel Market
Aptech Computer Systems, Inc. | September 6, 2016
Automated Forecasting and Budgeting Gives Operators and Owners Tools to Effectively Optimize Profitability September 6, 2016 – The hospitality industry is expanding rapidly. Hotel companies break ground on new build projects every week. Many operators are renovating older properties and reopening them as new brands from Marriott, Hilton, IHG and others. This expansion is based on investor capital; and investors demand a return. How do management companies deliver this return? Profitability. "Forecasts provide extended vision to anticipate financial results on both top and bottom line, enabling hotel operators to make operational ...
M3 Unleashes Budget & Forecasting for Hoteliers
M3 Accounting + Analytics | August 31, 2016
Powerful web-based tool seamlessly integrates data from accounting and analytics platforms M3 Accounting + Analytics has experienced exponential growth over the past five years, but that has not stopped the Gainesville, Georgia based company from being attuned to their customers' needs. Through the years, many M3 customers have utilized the budget and forecasting modules embedded into M3's accounting tool, which is now installed in over 4,500 individual properties nationwide. After exhaustive feedback from M3's Advisory Board, user groups and selected customers, M3 has put in place a powerful new tool that combines the best of both wor...
Howard Karawan Appointed President and Managing Director of Atlantis, Paradise Island Resort in The Bahamas
Atlantis, Paradise Island resort, The Bahamas | August 30, 2016
PARADISE ISLAND, THE BAHAMAS (August 30, 2016) – Brookfield Asset Management is pleased to announce the appointment of Howard C. Karawan as President and Managing Director of Atlantis, Paradise Island resort in The Bahamas. Karawan will succeed Paul Burke, who recently resigned from the position to pursue new career endeavors in the United States. Karawan will assume his new position on September 19, 2016. A luxury hospitality and gaming veteran with over 30 years of experience, Karawan will make his return to Atlantis after previously holding the position of President and Chief Marketing Officer for Kerzner International, the pri...
U.S. Lodging Industry Fees and Surcharges Forecast to Increase to a New Record Level in 2016 – $2.55 Billion
Bjorn Hanson, PhD | August 30, 2016
By Bjorn Hanson, PhD, Clinical Professor NYU School of Professional Studies Jonathan M. Tisch Center for Hospitality and Tourism Following the 2015 record of $2.45 billion, total fees and surcharges collected by U.S. hotels are forecast to increase to another record level of $2.55 billion in 2016. Although the amount will establish a record level of fees and surcharges, the percent increase will be the lowest since 2009. The increase for 2016 reflects a combination of approximately 2.0 percent more occupied hotel rooms than in 2015, more categories of fees and surcharges, and higher amounts charged, but lower fees and surcharges for hig...
HFTP to Honor 2016 CHAE Recipient Kelly Montgomery at Annual Convention in October
HFTP | August 30, 2016
AUSTIN, TEXAS, USA (August 30, 2016) — Hospitality Financial and Technology Professionals (HFTP®) will honor Kelly Montgomery, CHAE as the 2016 Certified Hospitality Accountant Executive (CHAE) of the Year at its 2016 Annual Convention. The CHAE of the Year award honors the individual that scored the highest on the CHAE certification exam within a given year. HFTP's 2016 Annual Convention event will be held at Caesars Palace Las Vegas Hotel & Casino from October 19-21, 2016 in Las Vegas, Nevada USA. Montgomery held her first job in hospitality as a hostess at the Hyatt in San Diego, while attending San Diego State Universi...
Hotel AG Announces Recent Closings
Hotel AG | August 24, 2016
ATLANTA – August 24, 2016 – Hotel AG announced today the firm has closed 16 hotel transactions since its last press release. The transactions were located across 11 states and five regions of the US including West Coast, South Central, North Central, Northeast and Southeast. The transactions were comprised of several brands such as Marriott, Hilton, IHG, among other brands and 2 independent hotels located in Pennsylvania and San Francisco. Hotel AG brokers involved in these transactions were Brad Sinclair, Andy Broad, Michael Bernath, Eric Gunderson, Rick George, Niven Patel, Wendy Blissett, Rex Cagle and Thierry Roch. H. Ke...
1
Industry Happenings
2
Technology
3
Operations
4
All Things Independent
5
Appointments/People on the Move