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Hilton Returning To Panama With Four Properties
BEVERLY HILLS, CA—Hilton Hotels Corp. has made a significant return to Panama with the signing of four multi-year agreements involving franchises and corporate management contracts.
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BEVERLY HILLS, CA—Hilton Hotels Corp. has made a significant return to Panama with the signing of four multi-year agreements involving franchises and corporate management contracts.
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Host Acquires Grand Hyatt Washington, DC
WASHINGTON—Host Hotels & Resorts acquired the 888-room Grand Hyatt Hotel here for approximately $400 million.
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WASHINGTON—Host Hotels & Resorts acquired the 888-room Grand Hyatt Hotel here for approximately $400 million.
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Kimpton Schedules Baltimore Debut
BALTIMORE, MD—Kimpton Hotels & Restaurants enters the Baltimore market this summer with the opening of a 202-room Hotel Monaco.
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BALTIMORE, MD—Kimpton Hotels & Restaurants enters the Baltimore market this summer with the opening of a 202-room Hotel Monaco.
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Jay Schultz, Sr. VP, Hospitality Group
Many of you are seeing this edition of Hotel Business while in New York City, attending the 34th Annual New York University International Hospitality Investment Conference.
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PKF Forecasts Deep, Long Recession For Hotel Industry
ATLANTA—According to the latest report from PKF Hospitality Research, U.S. hotels have entered the initial stages of one of the deepest and longest recessions in the history of the U.S. lodging industry.
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ATLANTA—According to the latest report from PKF Hospitality Research, U.S. hotels have entered the initial stages of one of the deepest and longest recessions in the history of the U.S. lodging industry.
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Red Roof’s First NextGen Prototype Property Opens
LOCUST GROVE, GA—Red Roof’s first new NextGen prototype property has made its premier here. The 64-room, newly constructed property is a franchise.
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LOCUST GROVE, GA—Red Roof’s first new NextGen prototype property has made its premier here. The 64-room, newly constructed property is a franchise.
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Jones Lang LaSalle Hotels Forecasts New RevPAR Record By 2013
CHICAGO—According to Jones Lang LaSalle Hotels, based on its five-year forecast, RevPAR will reach $68.28 in 2013, thereby exceeding the previous RevPAR peak in 2007.
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CHICAGO—According to Jones Lang LaSalle Hotels, based on its five-year forecast, RevPAR will reach $68.28 in 2013, thereby exceeding the previous RevPAR peak in 2007.
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Sage Honors Top Performers
OGDEN, UT—Sage Hospitality held its annual Leadership Conference here at the Ogden Marriott, where it honored properties and employees for excellence.
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OGDEN, UT—Sage Hospitality held its annual Leadership Conference here at the Ogden Marriott, where it honored properties and employees for excellence.
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Hotel Foreclosures Seen In '09 Outlook
TAMPA, FL—A hotel foreclosure environment will exist in 2009 if negative RevPAR trends continue, according to the Plasencia Group and several analysts’ declining RevPAR forecasts.
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TAMPA, FL—A hotel foreclosure environment will exist in 2009 if negative RevPAR trends continue, according to the Plasencia Group and several analysts’ declining RevPAR forecasts.
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W Scottsdale Enters Foreclosure
SCOTTSDALE, AZ—Open less than six months, the 224-room W Hotel & Residences here has entered foreclosure.
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SCOTTSDALE, AZ—Open less than six months, the 224-room W Hotel & Residences here has entered foreclosure.
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PKF Capital Forms Distressed Hotel Solutions Program
SAN FRANCISCO—In response to the increasing number of financially troubled U.S. hotels, PKF Capital has launched a Distressed Hotel Solutions Program.
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SAN FRANCISCO—In response to the increasing number of financially troubled U.S. hotels, PKF Capital has launched a Distressed Hotel Solutions Program.
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Jones Lang LaSalle Ups U.S. Market Share
CHICAGO—During his three-decade hospitality career, Arthur Adler has survived his share of economic cycles, but the depth of this most recent business cycle has put even more pressure on companies like Chicago-based Jones Lang LaSalle (JLL), where Adler has held the helm for the past decade as Americas CEO and Managing Director of the firm’s Hotels & Hospitality Group. The changing market has led Jones Lang LaSalle to diversify its services as a way to increase its share of the pie.
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CHICAGO—During his three-decade hospitality career, Arthur Adler has survived his share of economic cycles, but the depth of this most recent business cycle has put even more pressure on companies like Chicago-based Jones Lang LaSalle (JLL), where Adler has held the helm for the past decade as Americas CEO and Managing Director of the firm’s Hotels & Hospitality Group. The changing market has led Jones Lang LaSalle to diversify its services as a way to increase its share of the pie.
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Olivier Poirot CEO Accor N.A.-Motel 6/Studio 6
IXTAPA, MEXICO—Although gray skies and a steamy downpour greeted them, more than 300 Motel 6/Studio 6 franchisees and corporate Accor attendees yesterday were bent on seeing a brighter outlook for the U.S.-based economy brands during the next 12 to 18 months—using consistency as the key—as they kicked off the first day of Accor North America’s annual conference here in this coastal resort town at Club Med.
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Three San Francisco-Area Hotels Now Up For Sale
SAN FRANCISCO—Nob Hill Properties, Inc. has put three San Francisco Bay-area hotels up for sale. Holliday Fenoglio Fowler, LP is marketing the three iconic assets.
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SAN FRANCISCO—Nob Hill Properties, Inc. has put three San Francisco Bay-area hotels up for sale. Holliday Fenoglio Fowler, LP is marketing the three iconic assets.
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Andy Ingraham, NABHOOD President/CEO
ATLANTA—While talk of recession blows across the lodging landscape, the mood remains positive and the attitude is one of can-do by the members of The National Association of Black Hotel Owners, Operators and Developers, Inc. (NABHOOD), who are holding their 12th annual International Multicultural Tourism/Hotel Ownership Summit and Trade Show here at the Atlanta Marriott Century Center.
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HB ON THE SCENE: HTNG Shows Hotel Companies Way To Future Is In The ‘Clouds.’
ORLANDO—The hotel technology leaders over at Hotel Technology Next Generation (HTNG), which held its annual North American Members’ Meeting today here at the Hilton located in the Walt Disney World Resort, now have their heads stuck firmly in the clouds when it comes to the future of hospitality technology infrastructure and systems.
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ORLANDO—The hotel technology leaders over at Hotel Technology Next Generation (HTNG), which held its annual North American Members’ Meeting today here at the Hilton located in the Walt Disney World Resort, now have their heads stuck firmly in the clouds when it comes to the future of hospitality technology infrastructure and systems.
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Marriott takes another green laundry step with pre-washed towels
BETHESDA, MD—Greening the supply chain is one of the key points in Marriott International’s environmental strategy and the effort extends through its hotel operations up to—and including—the upgrades it is making in its laundries. And such upgrades have now extended to what are called “room-ready towels,” which are saving an estimated six million gallons of water annually.
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BETHESDA, MD—Greening the supply chain is one of the key points in Marriott International’s environmental strategy and the effort extends through its hotel operations up to—and including—the upgrades it is making in its laundries. And such upgrades have now extended to what are called “room-ready towels,” which are saving an estimated six million gallons of water annually.
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Residence Inn Opens In Covington, LA
COVINGTON, LA—A 125-suite Residence Inn by Marriott has opened here. Marriott International will manage the property, which is formally known as the Residence Inn New Orleans Covington/Northshore.
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COVINGTON, LA—A 125-suite Residence Inn by Marriott has opened here. Marriott International will manage the property, which is formally known as the Residence Inn New Orleans Covington/Northshore.
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Fitch: Most Upper Tier Hotels With CMBS Loans Could Face Default
NEW YORK—According to Fitch Ratings, more than 50% of upscale and luxury hotels in recent vintage, fixed-rate, U.S. commercial mortgage-backed securities may be unable to generate sufficient cash flow to pay debt service by the end of this year.
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NEW YORK—According to Fitch Ratings, more than 50% of upscale and luxury hotels in recent vintage, fixed-rate, U.S. commercial mortgage-backed securities may be unable to generate sufficient cash flow to pay debt service by the end of this year.
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Encore Hospitality Acquires Sterling Resorts, Realty
DALLAS—Encore Hospitality, a subsidiary of Encore Enterprises, has acquired Destin, FL-based Sterling Resorts, LLC and Sterling Realty, LLC from The Sterling Companies via a stock purchase agreement.
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DALLAS—Encore Hospitality, a subsidiary of Encore Enterprises, has acquired Destin, FL-based Sterling Resorts, LLC and Sterling Realty, LLC from The Sterling Companies via a stock purchase agreement.
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Six Hotels Added To New York Pipeline
NEW YORK–Six hotels have been added to the New York City development pipeline in the database maintained by NYC & Co., the citys tourism marketing organization.
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NEW YORK–Six hotels have been added to the New York City development pipeline in the database maintained by NYC & Co., the citys tourism marketing organization.
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Tom Wingham
LOS ANGELES—Industry veteran and Hilton Worldwide executive, Thomas “Tom” Wingham, has died. He was 42.
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Trigild Takes On More Distressed Hotels Via Receivership
SAN DIEGO—Trigild has been appointed as receiver for six distressed hospitality and residential projects in the Western U.S. that represent more than $80 million in defaulted mortgages.
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SAN DIEGO—Trigild has been appointed as receiver for six distressed hospitality and residential projects in the Western U.S. that represent more than $80 million in defaulted mortgages.
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HB ON THE SCENE: Meet The Money Predicts Dramatic Increase In Hotel Sales
LOS ANGELES, CA–On the second day of the Meet the Money conference here, speakers said they expected the dollar amount of hotel sales this year to almost double from last years number.
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LOS ANGELES, CA–On the second day of the Meet the Money conference here, speakers said they expected the dollar amount of hotel sales this year to almost double from last years number.
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Marriott And Schrager Choose Waikiki For First Edition Brand Hotel
HONOLULU—The first Edition Hotel will open in the Waikiki section of Honolulu in 2010 through a conversion of an existing hotel, HOTEL BUSINESS® has learned.
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HONOLULU—The first Edition Hotel will open in the Waikiki section of Honolulu in 2010 through a conversion of an existing hotel, HOTEL BUSINESS® has learned.
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Terranea Resort Defaults
RANCHO PALOS VERDES, CA— Open two months, the 360-room Terranea Resort faces separate foreclosure filings by two of its lenders.
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RANCHO PALOS VERDES, CA— Open two months, the 360-room Terranea Resort faces separate foreclosure filings by two of its lenders.
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Hilton's Goldman Placed On Administrative Leave
MCLEAN, VA— HOTEL BUSINESS® has learned that Hilton Worldwide has placed Steven Goldman, president of global development and real estate, on administrative leave.
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MCLEAN, VA— HOTEL BUSINESS® has learned that Hilton Worldwide has placed Steven Goldman, president of global development and real estate, on administrative leave.
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Jim Butler, JMBM
HENDERSON, NV— The affects of the credit crunch and the cyclical hotel industry downturn have been discussed across the lodging industry ad infinitum for the past few months, with doom and gloom scenarios the subsequent by product. Today, at the 18th annual Meet The Money conference here, it seemed as if the hotel investment and lending community finally came to grips with these facts and, more importantly, made the first proactive steps toward actually figuring out how to handle it all.
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PKF: Q2 2010 Will Be End Of Hotel Demand Decline
ATLANTA—PKF Hospitality Research is now forecasting that the U.S. hotel industry’s nine consecutive quarters of declining demand will come to an end in the second quarter of 2010. However, the only problem is price discounting has firmly taken hold and, as result, room rates are expected to decline again in 2010.
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ATLANTA—PKF Hospitality Research is now forecasting that the U.S. hotel industry’s nine consecutive quarters of declining demand will come to an end in the second quarter of 2010. However, the only problem is price discounting has firmly taken hold and, as result, room rates are expected to decline again in 2010.
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HEI Earmarks $1.5 Billion Toward Hotel Acquisitions
NORWALK, CT—Owner/operator HEI Hotels & Resorts, based here, has revealed plans to deploy up to $1.5 billion of its third fund during 2009.
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NORWALK, CT—Owner/operator HEI Hotels & Resorts, based here, has revealed plans to deploy up to $1.5 billion of its third fund during 2009.
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