Latest News
Ashford Girds For Tough Time
Ashford Hospitality Trust believes it is in good shape to weather the current economic downturn. The Dallas-based REIT, which owns more than 100 hotels, has in recent weeks pursued a number of strategies to help it conserve cash, trim operations and position itself for an uptick in business whenever it comes....
Developers Seek Federal Assistance
Fearing an onslaught of troubled commercial real estate loans in 2009 in the absence of normalized credit markets, leaders from trade associations across the industry have banded together to request the federal government for help....
Century City Project to Raze Historic Hotel
A proposed $2 billion project may signal the end for the storied Century Plaza hotel in Los Angeles. The plan, which includes condominiums, stores, offices and a smaller luxury hotel, must first past muster with the city of Los Angeles. ...
Encore Opening Bucks Economic Turmoil
No one thought Steve Wynn could top the Mirage, but he did with the Bellagio. Then came his self-titled Wynn Las Vegas and Monday night, his Encore performance debuted....
San Francisco Tax Aids Tourism Effort
At last, a city has wised up to the importance of linking hotel taxes to promotion of the tourism business. Last week, the San Francisco Board of Supervisors approved an additional hotel tax that will fund a Tourism Improvement District within the city. ...
Abrahamson to Head IHG
Hyatt development executive Jim Abrahamson has been named president of the Americas region of InterContinental Hotels Group. The 52-year-old Abrahamson replaces the late Steve Porter, who died earlier this year....
Mike Patel's Bank Fails
The dream of Mike Patel to serve the financial needs of the Asian-American hotel community may be over....
Industry Execs Bracing for Worst
More than 100 lodging industry executives gathered at the Fairmont Chicago Tuesday for an aptly named “Navigating Troubled Times in the Hotel Industry” discussion. Michael Medzigian, chairman and managing partner of Watermark Capital Partners, opened the already somber-sounding seminar with even more sobering news: PKF Hospitality Research’s latest forecast released that morning projected a 7.8 percent RevPAR decline in 2009. ...
TIA, TBR Join Forces
The Travel Industry Association (TIA) and the Travel Business Roundtable are merging, effective Jan. 1. The newly formed U.S. Travel Association will offer a powerful voice for the nation’s $740 billion travel industry. Roger Dow, TIA president and CEO, will serve in the same capacity for the U.S. Travel Association....
UPDATE: Extended Stay Hotels Inc. on Brink?
Extended Stay Hotels Inc. could be the first chain-wide casualty of the economic downturn. According to a Wall Street Journal story Monday, the company's owner, Lightstone Group LLC, is in talks that could potentially turn over the chain to its lenders. ...
Hawaiian Law Tips in Servers' Favor
What may be the first lawsuit targeting disclosure of hotel or restaurant food and beverage service charges has been filed in Hawaii. Jason Kawakami, who filed the suit against The Kahala Hotel and Resort, is seeking damages for anyone who paid a food and beverage service charge at the hotel since March 2006. ...
Gaylord Nixes Omni Buy-In Bid
Gaylord Entertainment, operators of big-box meeting hotels like the Gaylord Opryland, has rejected TRT Holdings' bid to increase its stake in the firm to 30 percent of outstanding shares. Along with the stock purchase, TRT wanted to place three people on Gaylord's board of directors....
Vista Acquires Select Inn
Vista Hospitality has purchased the Select Inn brand from privately owned Select Franchising, Inc. of Fargo, ND. Terms of the deal weren't disclosed....
He's Back: Danziger to Lead Wyndham
Yes, you can go back, at least in the hotel industry. Lodging veteran Eric Danziger, who's been out of the hotel business for nearly eight years, will return Dec. 1 as president and CEO of the Wyndham Hotel Group. He replaces Steve Rudnitsky, who left the post earlier this year and coincidentally was today named president and CEO of Dolce Hotels and Resorts, a New Jersey-based operator of 23 hotels, resorts and conference centers....
D.C. Hotels Brace for Inauguration
The hospitality industry in the nation's capital is hoping for long-term gains after the historic inauguration of the 44th president, according to Bill Hanbury, CEO of Destination DC, Washington's convention bureau. The city expects to play host to 1.5 million people next month, easily surpassing the record-breaking 1.2 million that attended LBJ's 1962 inauguration....
Carlson Serious About Sustainability
Green is more than just a color to Carlson Hotels Worldwide. That was clear at last week's International Hotel/Motel & Restaurant Show in New York City. Carmen Baker, the company's vice president of responsible business, a newly created position she filled in January, was front and center on a panel titled “Eco-Friendly Meets Eco-Nomic,” as well as talking to the media about the company's latest announcements and initiatives....
Lodging Industry Mixed on Election Result
The lodging industry has mixed feelings on the recent presidential election, according to an exclusive survey conducted by Lodging Hospitality and Penton Media....
Danziger Returns As Wyndham President
One-time Wyndham Hotels President Eric Danziger has returned. This morning, Wyndham Worldwide named the hotel industry veteran to be president and CEO of Wyndham Hotel Group. He replaces Steve Rudnitsky, who left the post earlier this year....
Carlson Reshuffles Executive Deck
Carlson Hotels Worldwide restructured its executive leadership to focus on its two largest brands, Radisson Hotels & Resorts and Country Inns & Suites. ...
Extended-Stay Segment Shows Resiliency
Perhaps supply is finally catching up to demand in the extended-stay segment, at least based on the surface of a recent third-quarter report from The Highland Group. A closer looks reveals an expected decline in occupancy compared to last year, the result of a strong third quarter in 2007, coupled with an influx of supply growth this year. The drop in occupancy (4.7 percent vs. last year) wasn't as severe as expected, according to The Highland Group, and average rate was better than that of the overall hotel industry, keeping extended-stay RevPAR on par with the rest of lodging....
Courtyard Turns 25, Reinvents Itself
Courtyard by Marriott had two reasons to celebrate last week in Newport News, VA. First was to mark the 25th anniversary of the brand, which has come to define a segment (the everyday hotel for road warriors) and sent competitors scrambling to match its success. Secondly and perhaps more importantly, the brand--and Bill Marriott himself--unveiled to a group of Courtyard developers and the press the first new-construction Courtyard to include its radical new lobby design....
Best Western CEO Optimistic Despite Economy
David Kong-who got his start as a busboy and dishwasher at the Hilton Hawaiian Village-told an enthusiastic group of owners and managers at Best Western's 2008 North American convention the company is poised to weather the sluggish economy. About 1,700 attendees and 575 registered exhibitors convened at the Hawaii Convention Center in Honolulu, which is fitting as Kong, Best Western's president and CEO, graduated from the University of Hawaii. ...
Red Roof Serious About NextGen Prototype
Joe Wheeling and Red Roof Inn continue to stay on the move. A year ago at this time, Wheeling and the economy brand were relocating offices after being sold by Accor. Corporate headquarters moved from outside Dallas back to Columbus, OH, the place where the brand started in 1972. Now, after introducing the new NextGen new-build prototype in June, Wheeling and Red Roof are looking to take the brand to new heights with an aggressive incentive plan for developers....
Hotel Waterpark Development Sinks
The problems in the credit markets have apparently spread to the hotel waterpark segment of the hospitality industry. According to JLC Hospitality Consulting, 30 fewer indoor waterpark projects have or will open in 2008 than the firm forecasted as recently as February....
No Deal for Red Lion Hotels
Columbia Pacific Opportunity Fund LP last week withdrew its preliminary proposal to purchase Red Lion Hotels Corp. The investment group originally offered to pay $9.50 per share for the company in June. ...
