hotel sales
Service Properties Trust Completes the Sale of Eight Hotels for $45.3 Million
Service Properties Trust | November 23, 2020
NEWTON, Mass. - Service Properties Trust (Nasdaq:SVC) today announced that it has completed the previously announced sale of eight TownePlace Suites branded hotels with 834 rooms and a net carrying value of $35.0 million for an aggregate sales price of $45.3 million, excluding closing costs. The proceeds from the sale will be used for the repayment of debt. John Murray, President and Chief Executive Officer of SVC, made the following statement: “Given current market conditions, we are pleased to complete the sale of this hotel portfolio, which we had identified for disposition in late 2019. We were successful in achieving pricing co...
Four Quick Training Tips for Hotel Sales Prospecting Success
Doug Kennedy | November 16, 2020
By Doug Kennedy Now that 2020 is winding down and the preliminary vaccine results are favorable, it is time for hotel salespeople to recommit to put on their orange vests and embrace their role as sales hunters. In previous articles for this publication I have spoken about the transition from Sales Fishing to Sales Hunting, the Habitudes of Sales Success, and how salespeople can master their Remote Sales Skills. Here are four additional specific sales tips. Is Your Hotel Sales Team Ready For The Transition From "Fishing For Inbound Leads" To "Sales Hunting”? Hotel Sales Habitudes For The Long Ride To A Slow Recovery - By Doug Kennedy ...
How Hotel Sales Performed in Q3
Daniel H. Lesser | October 29, 2020
Long term opportunistic investors that bet big, at the right basis, and early in the cycle will likely reap tremendous financial rewards. By Daniel H. Lesser Today’s global travel sector, which many characterize as being “on the brink of collapse,” is simply unprecedented. Seven months into a 100-year worldwide pandemic which caused a swift, wide, and deep economic recession has decimated key travel and leisure related industries including airlines, car rentals, cruise lines, ridesharing, and tour operators. While stock markets have rebounded to near record levels, the US lodging industry continues to experience crippling stress...
ProfitSword Partnership With Event Temple Offers Full Real-Time Insight Into Hotel Group Sales, Event and Catering Performance
ProfitSword | October 20, 2020
ProfitSword integration with Event Temple’s hotel & venue management software provides hoteliers with visibility over group, catering and event sales performance activities for entire business portfolio. ORLANDO, Fla. – (October 20, 2020) – ProfitSword, a premier developer of hospitality-related business intelligence and data integration software, has announced a strategic partnership with Event Temple, a leading provider of hotel and venue sales and catering software, to provide hoteliers with seamless and complete visibility over group, catering and event sales performance activity. Through the integration of Event Temple’...
Hotel Sales Habitudes for the Long Ride to a Slow Recovery
Doug Kennedy | October 15, 2020
By Doug Kennedy Now that we are beyond six months into this pandemic era, most hotel salespeople and their leaders have come to accept that it is going to be a long, slow ride to a full recovery. For those of us who have experienced loss, the emotions may have felt similar to moving through what grief counselors call the “Five Stages of Grief.” Although losing a loved one or going through a divorce is of course much worse than suffering a career disruption, the salespeople I speak with about this analogy seem to agree that their emotions have followed similar patterns. First, denial and waiting for something miraculous to happen to ...
Caesars Entertainment and VICI Properties Complete Sale of Harrah’s Reno to CAI Investments for $41.5M
Caesars Entertainment | October 1, 2020
NEW YORK - Caesars Entertainment, Inc. (NASDAQ: CZR) (“Caesars Entertainment” or “Caesars”) and VICI Properties Inc. (NYSE:VICI) (“VICI Properties” or “VICI”) today announced they have completed the previously disclosed transaction to sell Harrah’s Reno Hotel and Casino (“Harrah’s Reno”) to an affiliate of CAI Investments for $41.5 million. The proceeds of the transaction were split 75% to VICI and 25% to Caesars, while the annual rent payments under the Regional Master Lease between Caesars and VICI remain unchanged. Forward-Looking Statements This press release includes forward-looking statements within the me...
The Profession of Hotel Sales Is at a Fork in the Road: Which Path Will You Follow?
Doug Kennedy | August 25, 2020
By Doug Kennedy Certainly, the COVID-19 pandemic has impacted virtually every type of industry to one degree or another, and in different ways. While some industries such as the tech sector flourish, others such as retail, restaurant, hotel, and tourism languish. Yet one thing the pandemic economy has done for virtually all industries is to accelerate the pace of changes long underway. There are so many examples. Telemedicine has been around for a decade now, yet only now are patients and providers embracing it on a large scale. Distance learning became the latest thing in education over two decades ago, yet only now is it being deployed o...
Is Your Hotel Sales Team Ready for the Transition From “Fishing for Inbound Leads” to “Sales Hunting?”
Doug Kennedy | June 11, 2020
By Doug Kennedy In the course of a few months the hotel group, conference, event and BT sales landscape has transitioned from a period of historically high demand to near zero. After the tidal wave of cancellations and postponements in March, followed by an eerily quiet April and May when many were furloughed, hotel salespeople are now returning to an entirely new sales habitat. Is your sales team ready? The last 10+ years of growth have allowed hotel sales to be more about "fishing" for new leads. Most salespeople could simply wait for a meeting or event planning “fish” swim by and bite on digital "bait" such as a hotel website or ...
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