hotel sales
Avison Young Closed 12 Hotel Transactions Over Last 90 Days
Avison Young | March 11, 2024
ATLANTA – March 11, 2024 – Avison Young announces today that the firm has closed 12 hotel transactions over the last 90 days. Four of the sales were Hilton-branded hotels, two were Marriott-branded hotels, and an IHG and other brands made up the balance. Geographically the hotels were located in the following states – IN, KY, PA, CO, VA, AR, MA, GA, and TN. Of special note, Thierry Roch and Rick George closed a sale on a boutique hotel in the Cape Cod area for close to 1m per room and Chris Kilcullen closed the sale for the upscale Ascent on Main in Parker, CO. Chris Stark, Brad Sinclair, Mike George, Thierry Roch and Rick George were t...
Best Habits for Hotel Sales Site Tours: Stand Out When They Stop By (Whether in Person or Virtually)!
Doug Kennedy | March 7, 2024
Doug Kennedy’s Next Training Webcast - Complimentary Registration Now Open Sponsored By Travel Outlook, Better Talent, and Track Hospitality Software Register your team and participate live, or view the recording of Doug Kennedy’s next 40-minute training webcast scheduled for Monday, March 18, from Noon – 12:45pm EST. REGISTER HERE “While many group and event bookers go through the buying cycle without ever visiting the hotel in person, there are still plenty who prefer a site tour,” said KTN President Doug Kennedy. “And smart salespeople always offer to conduct live virtual site tours for those who cannot visit.” Ty...
Q4 2023 Major U.S. Hotel Sales Survey
Daniel Lesser | February 7, 2024
At the dawn of 2024, a U.S. presidential election looms amidst numerous geopolitical challenges including two major ongoing wars in Europe and the Middle East which threaten global economic growth. The good news is, thus far it appears the U.S. economy has avoided recession with many now perceiving continued growth, albeit subdued. Inflation has cooled, the economy continues to add jobs, interest rates appear to have peaked and are anticipated to gradually decline for the next two years. Furthermore, a roaring stock market continues to fuel American consumer expenditures resulting in strong demand for travel including lodging. Despite a re...
Lodging Interactive’s CoMMingle360 Transforms Hotel Social Media Into Powerful Wedding Sales Opportunities
Lodging Interactive | January 17, 2024
CoMMingle360 enables hotels to be everywhere their prospects are and to engage and sell to them through an omnichannel approach. Lodging Interactive, an award-winning digital marketing, reputation management, and social media engagement agency exclusively serving the hospitality industry since 2001, announced today the next phase of its CoMMingle360 omnichannel marketing service for the hospitality industry. Commingle360 enables hotels to generate group event revenue opportunities and direct bookings through their social media channels 24/7. “CoMMingle360 enables hotels to be everywhere their prospects are and to engage with them thro...
Smart Strategies, Big Wins: Transforming Group Sales With Data Insights
Mike Pavicich | January 9, 2024
By Mike Pavicich Data analytics can play a crucial role in identifying potential group sales opportunities for hotels. By analyzing large volumes of data, such as customer preferences, booking patterns, competitors, and market trends, hotels can gain valuable insights into the demand for group bookings. In fact, hotels that use data analytics strategies have seen a 20% increase in group sales and reduced their group sales acquisition costs by 25%. Platforms like SalesAndCatering.com’s STS Cloud, with robust reporting and business intelligence capabilities, are transforming not just the way hotels interpret group sales performance bu...
When the Pendulum Stops Swinging
H. Keith Thompson | November 10, 2023
By H. Keith Thompson I have been a hotel broker for 33 years and during all past cycles, the markets would simply swing from being either a seller’s market or a buyer’s market and then after a correction, swings back again. Using a swinging pendulum as a metaphor for the hotel real estate market today, the pendulum has almost stopped swinging. In my history as a hotel broker, the only time the pendulum almost stopped swinging was just after 911 and this new interest rate cycle we all find ourselves in today. In 2023, new transactions in the hotel space are down 50-70 percent depending on the brand and the market. Today it is neither...
Nashville Hits 31.5 Percent Meeting and Event Growth in October, According to Knowland
Knowland | November 8, 2023
October event volume increased 12.8 percent compared with last year ARLINGTON, Va. — Nov. 8, 2023 — Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, reports Nashville experienced strong growth for meetings and events since last year at 31.5 percent. Las Vegas came in second with 20.3 percent year-over-year growth. Overall, U.S. industry growth of meetings and events increased by 12.8 percent. This data is sourced from Knowland’s sales intelligence platform designed to help hoteliers build and protect a hotel’s revenue base. Nashville was the hot spot for conventio...
Crowne Plaza Dubai Marina Selects Knowland to Strategically Reallocate Market Share
Knowland | October 11, 2023
Luxury hotel relies on Knowland’s unique data-driven insights and analytics to qualify opportunities and optimize sales team productivity ARLINGTON, Va. — Oct. 11, 2023 — Today Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, announced the Crowne Plaza Dubai Marina Hotel selected the Knowland platform to gain access to insights into untapped industries and potential accounts, expand opportunities within the luxury hotel sector and empower sales teams to reallocate market share strategically. Located in the cosmopolitan Dubai Marina area, the IHG property provides 273 ro...
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