Rainmaker VP to Participate in Panel Discussion at HSMAI ROC
Rainmaker | June 13, 2019
ALPHARETTA, GA. — June 13, 2019 — The Rainmaker Group today announced that Dan Skodol, the company’s vice president of revenue analytics, will participate in a panel discussion at HSMAI’s Revenue Optimization Conference, which will be held June 18-19 at the Minneapolis Convention Center in Minneapolis, MN. The company is a Platinum Sponsor of the event. Skodol will take part in the panel discussion entitled, “Think Differently About Revenue: Building a Better Room Merchandising Plan.” In this session, a group of industry professionals will discuss potential benefits of dynamically yielding at a granular, room type level. They ...
IDeaS Celebrates 30 Years of Innovation, Revenue Transformation and Global Momentum at HITEC 2019
IDeaS | June 13, 2019
Following a wave of unprecedented growth and major client wins, IDeaS continues worldwide, multi-vertical expansion plans Tweet This: @IDeaS_RevOpt is turning the big 3-0 and never felt better. Join us at HITEC and ROC on our home turf of Minneapolis—we have a lot to celebrate. www.ideas.com/news #RevenueScience #30YearsYoung MINNEAPOLIS—June 13, 2019—HITEC Booth #1415 (Minneapolis Convention Center)—IDeaS Revenue Solutions, the world’s leading provider of automated revenue management software and services, will showcase its cutting-edge revenue science technology products at the Hospitality Industry Technology Exposition ...
ProfitSword and WVC RubixCloud Partner to Provide Hotels With Comprehensive and Seamless Business Intelligence and Financial Accounting Platform
ProfitSword, LLC | June 12, 2019
In-depth integration provides both single properties and entire hotel portfolios with ability to ensure full data integrity between accounting and business intelligence systems. ORLANDO, Fla. – (June 12, 2019) – ProfitSword, a leading provider of Business Intelligence solutions for the hospitality industry and WVC RubixCloud (WVCRC) providing best-in-class technology and accounting services, have partnered to create a comprehensive data management and accounting solution that provides key financial and operational benefits for the hospitality industry. The integrated solution is designed to allow a single hotel or an entire portfo...
What Is TRevPAR (Definition and Why It Matters)?
David Eisen | June 10, 2019
By David Eisen In a previous blog post, I took aim at RevPAR. My pursuit: to puncture the long-held notion that it’s the most exemplary data point to consult within the hospitality industry. And, according to one comment, I succeeded in doing so (thank you, Don Weintraub, you made my mother very proud). My thesis was not that RevPAR is obsolete; following it is still necessary, especially since RevPAR tracks revenue derived from the rooms department, the largest source of revenue for a hotel. It’s akin to tracking cap rates when investing in hotels—one data point but not the end-all. RevPAR (a combination of rate and occupancy) is...
TraknProtect Selected to Present Location-Based Employee Security Platform During Entrepreneur 20X (E20X) Competition at HITEC 2019
TraknProtect | June 10, 2019
The pioneer of employee safety button technology chosen to participate in annual startup competition and showcase at the launch of HITEC Minneapolis 2019 Minneapolis – HITEC Booth #3017 – June 10, 2019 – TraknProtect, a leading provider of real-time location technology purpose-built for the hospitality environment, has been selected by HFTP (Hospitality Technology Financial Professionals) to present its award-winning solution during the Entrepreneur 20X (E20X) competition at this year’s HITEC Minneapolis on June 17, 2019. During E20X, selected companies prepare and deliver four-minute presentations which are then judged by a panel...
Hospitality Financial Leadership: Conducting Financial Operations Reviews
David Lund | June 10, 2019
By David Lund Hands down one of the best experiences I ever had in my career was being part of the team that reviewed the financial performance of the hotels in my region. The reason I enjoyed it so much, and have such great memories, is because I learned so much at each one and not only did I learn about the business of hotels, I had a lesson in people. The review team consisted of my boss, the hotel GM, the hotel Controller and me. In addition to the four of us, one by one the other executives or department heads would be in attendance or be called when it was their turn to review their area. The examination was a low-tech event. No P...
MSD Partners Closes Sale of 1,047-Room Boca Raton Resort & Club From Blackstone Group for $461.6 Million
MGM Resorts International | June 10, 2019
Jeff Ostrowski | The Palm Beach Post, Fla. June 07--In the biggest property sale in Palm Beach County history, the Boca Raton Resort & Club sold this week for $461.6 million, according to deeds made public Thursday. A company affiliated with billionaire Michael Dell announced in April that it would buy the iconic club from Blackstone Group, but the buyer and seller didn't disclose the price at the time. Dell's MSD Partners is the new owner of the 1,047-room hotel. Dell himself visited the hotel several times from 2000 to 2004, when the Boca Resort hosted annual meetings of The Business Council, an organization made up of the heads of th...
Pebblebrook Hotel Trust to Sell LA’s 132-Room Hotel Amarano Burbank for $72.9M
Pebblebrook Hotel Trust | June 3, 2019
BETHESDA, Md.-- 6/3/2019 -- Pebblebrook Hotel Trust (NYSE: PEB) (the "Company") today announced that it executed a contract to sell the 132-room Hotel Amarano Burbank in Los Angeles, California for approximately $72.9 million to a third party. The contracted sale price reflects a 15.8x EBITDA multiple and a 5.7% net operating income capitalization rate (after an assumed annual capital reserve of 4.0% of total hotel revenues) based on the hotel's operating performance for 2018. Based on the trailing 12-month period ended March 2019, the contracted sales price reflects a 16.9x EBITDA multiple and a 5.3% net operating income capitalization ra...
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