News Archive: May 2019
CoralTree Hospitality Group to Manage The Eddy Hotel in Golden, Colorado
May 28, 2019
Denver, Colo. – May 28, 2019 – Tom Luersen, president of CoralTree Hospitality Group, today announced that the company has been selected by Confluence Companies to manage The Eddy Hotel in Golden, Colo. Construction will begin shortly on the 49-room boutique hotel, which is expected to open summer 2021. "This is an exciting new project for CoralTree," said Luersen. "Golden is an incredibly vibrant community – it's truly the gateway to the Rockies. With the whitewater playpark downtown, an emerging food scene and a welcoming spirit, it's the perfect place for a hotel like The Eddy. We are thrilled that Confluence select...
Braemar Hotels & Resorts Unveils The Notary Hotel, an Autograph Collection Property Opening Early Summer 2019 in Philadelphia
May 2, 2019
DALLAS, May 2, 2019 -- Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") today announced the planned opening of The Notary Hotel in early summer 2019. Listed on the National Register of Historic Places, the former Courtyard by Marriott Philadelphia Downtown underwent a rebranding and renovation in excess of $20 million to create The Notary Hotel. Fusing Philadelphia's unique soul with its historic legacy, the hotel now joins Marriott International's Autograph Collection® Hotels, a diverse portfolio of 177 independent hotels around the world that reflect unique vision, design and craft. Originally designed by proli...
How Hotels Can Embrace the Experience Economy
David Millili | May 16, 2019
By David Millili Atif Rafiq begins his tenure at MGM Resorts this month. A departure for a casino hotel operation that would typically hire from within the industry, Rafiq's background isn't in hotels at all. Instead, his most recent position as chief digital officer and global chief innovation officer at Volvo Cars signifies a shift in the way MGM is thinking about hospitality, moving away from traditional approaches and toward digital experiences. As Rafiq tells Skift, "Being a Silicon Valley native in tech companies, I want to think about how to bring the digital and physical together. I'm looking at it how a tech company would look ...
RevPAR Is Only One Piece of the Picture
David Eisen | May 17, 2019
By David Eisen Imagine you're scouting a young baseball player or footballer—someone experts have pegged as the next Derek Jeter or Lionel Messi. You can't, however, just take their word for it; you have to see their performance for yourself and also dig into the numbers—into how they rate statistically. Now, imagine you are only allowed to consult one statistic, such as batting average (hits divided by at-bats) or goals scored. Then, imagine that within this context, our Jeter heir apparent is hitting a more-than-respectable .315, and our Messi-to-be is his team's leading goal scorer. Great news, right? Well, yes and no. ...
Marriott International Statement on Health of President and CEO Arne Sorenson
Marriott International | May 3, 2019
Marriott International, Inc. (NASDAQ: MAR) today announced that President and CEO Arne Sorenson was diagnosed on Wednesday with stage 2 pancreatic cancer. Sorenson, 60, received the diagnosis from a medical team at Johns Hopkins Hospital in Baltimore after a series of tests. Sorenson will remain in his role while undergoing treatment. In a message to Marriott International associates, Sorenson noted: "The cancer was discovered early. It does not appear to have spread and the medical team – and I – are confident that we can realistically aim for a complete cure. In the meantime, I intend to continue working at the company I l...
Kimpton Hotels & Restaurants to Redevelop Omaha’s Century-Old Blackstone Hotel and Office Building Into 205-Room Kimpton Omaha
Kimpton Hotels & Restaurants | May 31, 2019
SAN FRANCISCO (May 31, 2019) -- Kimpton Hotels & Restaurants announced today its first property in Nebraska, a complete rehabilitation of the historic Blackstone Hotel and former office building. The project is scheduled to open in the spring of 2020. Located in the popular and vibrant Blackstone District of Omaha near several iconic American companies, including Berkshire Hathaway, Mutual of Omaha, Ameritrade, and the Kiewit Corporation as well as the University of Nebraska Medical Center, the century-old property will feature 205 guestrooms, a steakhouse and the reimagined celebrated Cottonwood Room bar. A swimming pool in a resort-s...
How Will the Hospitality Industry Benefit From the IoT
Ana Bera | May 9, 2019
By Ana Bera The Internet of Things (IoT) has the potential to be a gamechanger for those in the hospitality industry. Therefore, it is essential for managers, hotel owners, and other business leaders to try to make the most of it. However, according to research, 87% of people are not familiar with the concept of the Internet of Things let alone what this technology means for the hospitality industry. In this article, we have discussed this matter, and hopefully, you will learn more about the latest tech buzzword and how does it cater to client needs. What Is the Internet of Things? The term 'Internet of Things' refers to the idea of cre...
Airbnb v. Hotels: New Research Sheds Light on How They Can Compete and Benefit in the Sharing Economy
INFORMS and Marketing Science | May 1, 2019
Key Takeaways: Airbnb cannibalizes hotel sales, particularly in the lower-priced leisure travel segment, while at the same time creating market expansion. Airbnb can help stabilize or even increase demand during peak travel seasons, offsetting the potential for higher hotel prices which can sometimes be a deterrent. The flexible lodging capacity created by Airbnb may disrupt traditional pricing strategies in some markets, actually helping to minimize the need for seasonal pricing. As Airbnb targets business travelers, higher-end hotels are most likely to be affected. CATONSVILLE, MD, May 1, 2019 – Researchers from the Teppe...
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