Expect a Slow Ride, Says Economist
Many economists are scratching their heads today, trying to figure out why the nonfarm payroll employment figures for November came in well below expectations, particularly after a report on private sector hiring released early this week was so encouraging....
Loews Looks to Grow with Furbay
Troy Furbay has only been on the job five weeks, but he’s already got big plans with Loews Hotels. The new executive vice president of acquisitions and development can draw on his almost 10 years of similar experience at Kimpton Hotels, where he helped lead...
RCI, Interval Up Ante in Timeshare Business
The two big dogs in the vacation ownership industry—RCI and Interval International—made news this week. RCI introduced a unique enhancement to its RCI Weeks program that gives its members greater transparency and flexibility as they plan vacations using timeshare exchange. ...
NY, San Fran Top List of Lodging Potential
The results of the Lodging Market Potential Index are no surprise judging by the recent wave of high-profile transactions in gateway cities. New York City and San Francisco are again at the top of the latest L-MPI, a relative ranking of the 25 largest lodging markets in the U.S. by long-term potential for hotel investments....
Gaylord Opryland Welcomes Back Meeting Planners
In a city where a hotel grand reopening makes the front page of the newspaper and headlines the evening news, Nashville warmly welcomed back the Gaylord Opryland Hotel. The hotel officially reopened on Nov. 19, after devastating floods last May closed its doors for more than six months....
Mike Leven Signs Extension at Las Vegas Sands
When Mike Leven took his current job as president and COO of Las Vegas Sands Corp. in March 2009, I wrote a blog item questioning his judgment. I’ve known Mike for many years so I took a few liberties in poking fun at his decision to join the rough-and-tumble world of casino hotels following nearly five very successful decades in the traditional hotel business. I figured it was a long-shot bet and wondered whether he would roll craps....
Luxury Lives as 54 Properties Earn Forbes’ 5 Stars
The luxury segment of the hotel industry has been through a rough couple of years, but two new properties and a total of 54 have earned the coveted fifth star from Forbes Travel Guide. ...
John Russell Launches New Hotel Venture
John Russell is writing a new chapter in his long career in the hotel industry. He and a team of other American lodging veterans are partnering with Auromatrix, a 20-year-old Indian hospitality and technology company, to form Advaya Hospitality. ...
Best Western Details Moves Beyond Descriptors
Creating descriptors or tiers to help consumers understand Best Western’s diverse group of hotels has long been discussed and debated, but always considered an impossible mission. This week in Vancouver at Best Western’s annual convention—aptly titled “Mission Possible”—executives took the stage and were able to talk about executing the strategy rather than selling it....
ISHC Panel Ponders In-Bound Tourism Strategies
International tourism is critically important to the U.S. hotel industry, as well as to the country and its citizens as a whole. Although international tourism currently yields $110 billion in spending for the U.S., the country still lags significantly in capturing its full market share of global travelers. Roger Dow, president of the U.S. Travel Association, estimates the real potential of doubling arrivals just from countries in the Visa Waiver Program would generate $208 billion in spending and more than 825,000 tourism-related jobs. ...
Extended-Stay Segment Leads Lodging Recovery
The extended-stay segment is leading the lodging industry back to prosperity. The third quarter was the best in the history of the segment, according to a report from The Highland Group, an Atlanta-based consulting and investment advisory firm....
Hotel Distress Helps Stoke Transaction Activity
The return of the hotel transaction market has taken longer than expected, but a splash of high-profile acquisitions and a potential wave of distressed assets coming to market have many believing the dam is about to burst....
Lane Hospitality Leadership Buys Stake in Company
It’s been a busy couple of weeks for Lane Hospitality President & CEO Bill DeForrest. Two weeks ago, as incoming chairman of the IAHI he was addressing 4,000 owners and operators of IHG properties at the company’s annual conference in Las Vegas. While at the conference, he had to sneak away a few times to work on a more personal project: a deal he and members of his senior management team struck with the Lane family to acquire a “significant minority stake” in Lane Hospitality. ...
IH/MRS Offers Robust Educational Program
While there are plenty of new products and companies to view at the upcoming International Hotel/Motel & Restaurant Show, there’s also a wealth of industry panels and educational sessions to help hoteliers face issues ranging from marketing to design to human resources and more. The Show will be held Nov. 13-16 at the Jacob K. Javits Convention Center in New York....
IHG Looks To a Bright Future
Andy Cosslett doesn’t like to dwell on the past. Rather, the head of IHG prefers to talk about better days ahead and what the 4,500-property brand company can do to increase market share and boost profitability for its franchisees and the hotels it operates....
Penn State Seeks Hotel School Leader
Bert Van Hoof, director of the Penn State School of Hospitality Management, is stepping down next spring after six years on the job to join the school’s faculty. A search committee from the school is now looking for a replacement to head the program....
IHG Plans More Holiday Inn Upgrades
While the Holiday Inn system nears completion of its massive $1-billion relaunch of the brand, it’s already looking ahead. At last week’s IHG Americas owners and operators conference in Las Vegas, officials unveiled preliminary plans to overhaul the brand’s public spaces and food and beverage concepts....
Boutique Hotels Can’t Ignore Social Media
A boutique hotel without a buzz is a hotel without many guests. A panel at the Lifestyle/Boutique Hotel Development Conference in Miami last week discussed how owners and operators can use social media to help build, and then monitor, that buzz....
Owners, Pick Your Management Carefully
Picking the right operator for your boutique or lifestyle hotel is all about relationships. Owners and operators need to be on the same philosophical page if the partnership hopes to succeed. That was a primary conclusion of a panel discussion during last week’s Lifestyle/Boutique Hotel Development Conference sponsored by Lodging Hospitality and HVS Hotel Management....
Celebrity Chefs Come With a Price
Hire a celebrity chef or run your own food & beverage operations? That was the question debated during a panel at the second Lifestyle/Boutique Hotel Development Conference at the Fontainebleau in Miami Beach. ...
Financing Loosens for Boutique Hotels
Boutique and lifestyle hotels have come of age in the eyes of an increasing number of lenders. Debt financing, in particular, has become more consistently available in recent months, said several panelists during a discussion of financing at this week’s Lifestyle/Boutique Hotel Development Conference. ...
Lively Debate Marks Lifestyle/Boutique Conference
The second Lifestyle/Boutique Hotel Development Conference kicked off Tuesday morning with an informative and sometimes contentious discussion about the lifestyle and boutique segments from a panel of industry heavyweights. ...
Small Business Jobs Bill Helps Lodging, But It’s No Panacea
Despite opposition from Republicans, Congress recently passed and President Obama signed into law the Small Business Jobs and Credit Act of 2010. The legislation could prove to be a boon for some hotel real estate entrepreneurs, say industry experts, particularly those looking to develop in the limited-service segments of the business....
Timesharing Rebounds in Hawaii
The Hawaii hospitality business, especially the vacation ownership segment, is on fire. As the rest of the U.S. industry creeps back from the downturn, Hawaiian hotels and timeshare properties are charging ahead....
LEED-Certified Courtyard Debuts in Pittsburgh
NEWS: Concord Opens Chain’s First Green Prototype
A first-of-its-kind Courtyard by Marriott opened earlier this week near Pittsburgh. The 124-room property in suburban Settlers Ridge is the brand’s first LEED-certified hotel developed from a prototype created by Concord Hotels, the hotel’s owner and operator, with support from Marriott International....
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