Schulze’s Company Gets New Name, Capital Partner
Since debuting in 2002, Horst Schulze’s West Paces Hotel Group and its “super luxury” brand called Capella has been well received, but slow to grow. Wednesday, the former president and chief operating officer of Ritz-Carlton announced a new name, capital partner and aggressive plans to add five properties in the next year and double the size of the company within two years....
Select-Service Lodging Becomes an Attractive Investment
Mitchell Hochberg is very bullish on select-service lodging. The principal of Madden Real Estate Ventures sees a niche in the segment other institutional buyers may have missed. His New York City-based firm is both building new select-service hotels and buying and investing in existing properties....
Occupancy During Holidays May Stall, But Rate Won’t
AAA forecasts 42.5 million Americans will travel 50 or more miles during Thanksgiving weekend, a 4% increase from a year ago, and the first significant holiday travel increase of the year. But will those travelers be staying in hotels or with grandma? ...
Hotel Foreclosures an Oncoming ‘Train Wreck’
Steve Van hates being the pessimist, but he can’t help it. The CEO of Prism Hotels & Resorts says comparing the last two years of hotel distress to what’s coming is like comparing “a car wreck and a train wreck.” ...
Boutique Bash: 2011 LBHDC Recap
Richard Millard, who’d probably look like he was having fun at a funeral, wants you. The quirky and always engaging CEO and chairman of Trust Hospitality—Tecton and Desires until recently—ended the opening general session at last month’s Lifestyle/Boutique Hotel Development Conference with an impassioned plea about the allure of the lifestyle and boutique segments of the hotel industry:...
Farm Fresh: Fairfield Has Designs to Grow
Bill Marriott fondly remembers the Thanksgiving dinners at his father’s Fairfield Farm in the Virginia foothills of the Blue Ridge Mountains. Reminiscing about the huge turkey in the tiny oven still draws a laugh from the chairman and CEO of Marriott International. That family farm — “my dad’s favorite place in the world,” says Mr. Marriott — became the name for the company’s first value-focused offering in 1987: Fairfield Inn....
IHG Unveils ‘Brandhearted’ Approach
There was no real fanfare for CEO Richard Solomons and President of the Americas Kirk Kinsell, both new to their jobs, but certainly not new to InterContinental Hotels Group. There was no headline-grabbing announcement about the biggest brand relaunch in the history of the industry, nor was a new brand or collection introduced. ...
Marriott Plans Relaunch of Edition Boutique Brand
If nothing else, Marriott is resilient. Just a couple of months after the company was replaced as operator of the Honolulu Edition, the leader of the luxury boutique brand says it plans to continue to expand, but with a difference. Speaking at this week’s Lifestyle/Boutique Hotel Development Conference, Tim Miller, managing director and senior vice president of Edition, said ...
W Makes its Mark in South Beach
The only thing that hasn’t changed is the address. The decades-old Holiday Inn no longer resides on the beachfront property at 2201 Collins Ave, on the northern fringe of South Beach. Now the W South Beach Hotel & Residences sits on the 3 ½ acre-plot of land between 22nd and 23rd avenues, which isn’t considered the edge of South Beach anymore. The W has become the epicenter, the hottest spot in a destination known for its sizzle. ...
Comparing Same Hotel Across Five Regions
I always wondered how a hotel would operate financially if it were located in different parts of the world. To demonstrate these differences and show the impact on the net income, I developed the following side-by-side comparison of the revenue and expense for a proposed 200-room Marriott type hotel, assuming it was located in the following five regions: China, Europe, India, South America and the U.S....
Red Roof Back on Track, Poised for Growth
The last few years have been challenging for everyone in the hotel industry, but imagine being a brand company with almost 200 corporate-owned properties — more than half the entire system — underwater. On the same day Andrew Alexander took over as acting president of Red Roof Inns in 2009, the company defaulted on loans securing those properties. ...
MLIS 2011 Recap: Signs of Hope
A recap of the 2011 Midwest Lodging Investors Summit....
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