Priceline just strengthened its Chinese market position by investing into Meituan-Dianping, one of the fastest growing players in the Chinese digital space, showing its ambition in international expansion and giving it a new edge says the report into the online giant. In October 2017 Meituan-Dianping announced the investment as part of Series C funding into the start-up, which brings together group buying, booking and reviews.
OTA Insight, the cloud-based data intelligence platform for the hospitality industry, today announced $20 million in growth funding. Eight Roads Ventures led the round with participation from F-Prime Capital Partners and previous investors.
In an ongoing effort to balance hospitality and security, the hotel and lodging industry is uniquely vulnerable to crisis, and notoriously difficult to regulate. The Las Vegas shooting that occurred on October 1, 2017, is a particularly formidable example of how a lighthearted vacation can quickly turn into a nightmare. Recent hurricanes experienced in Houston, Florida, and Puerto Rico also had a major impact on the hospitality industry. The same goes for the earthquake that struck Central Mexico in September, and the wildfires that ravaged Northern California in October. This string of events is a mere microcosm of the types of situations that can wreak havoc on any hotel business.
The Rainmaker Group (Rainmaker), a leading provider of cloud-based hospitality revenue and profit optimization software, today announced that it has received antitrust clearance from the U.S. Department of Justice to transition its Rainmaker LRO multifamily housing business and product portfolio to RealPage, Inc., a Richardson, Texas-based global provider of software and data analytics to the real estate industry. The company anticipates the transaction closing will take place by the end of 2017.
InvoTech Systems Inc. announced the recent implementation of its Uniform System at the new Viceroy Chicago that opened September 1, 2017, located in the Gold Coast neighborhood. InvoTech Systems is the leading provider of advanced Linen Management, Laundry and Uniform Systems that integrate the latest RFID technology to increase profitability for hotels, resorts, casino operators, sports arenas, convention centers and theme parks. The InvoTech System installed at the Viceroy Chicago joins InvoTech System's extensive client portfolio of Hotels & Resorts worldwide. Click here for more information on InvoTech's Linen, Laundry and Uniform Systems.
It's a familiar story for hoteliers; there are simply not enough hours in the day to get all the work that needs to be done completed. To allow busy hotel owners and managers easier access to property financial data, at home and on the road, M3 has recently introduced its mobile app for both iOS and Android devices.
New hotel construction in major markets and second tier cities is signaling the growing strength of independent hotels and smaller entrepreneurial brands. The new properties span urban hotels, resorts, historic restorations, and anchors of major redevelopment programs, emerging business districts and dynamic new sports and entertainment complexes. They are breaking new ground in the areas of sustainability, art and architecture, historic preservation, food and beverage service and design, and using modern technology to create new meetings and guest experiences.
Travelers in the know seeking the next great upscale hotel look no further. Luxury and experiential travel network Virtuoso, along with its more than 16,000 travel advisors worldwide, has revealed the hottest hotel openings around the globe for this fall and beyond. From relaxing resorts to iconic urban landmarks, these five properties are sure to make an indelible impression on guests when they open or reopen over the next several months:
Accurate, next day financial reporting is essential for proactive profitability-focused operators. Comprehensive operations reports with dynamic drill down capability are like headlights that examine the factors that impact performance. They show managers and owners where their business is, how it got there, and illuminate what they need to change to make it better.
Global hospitality software business Guestline announces the appointment of Andrew Metcalfe to the new role of chief technology officer and a commitment to double its UK-based development team. The senior appointment for the business, and ambitious growth plans, come as Guestline expands further to support a more diverse range of new clients, including large hotel groups, universities, a wide selection of serviced accommodation providers and a growing number of international hotels.
According to Accenture Interactive, 50% of companies have more digital content that they can effectively manage. Hotel groups are not immune, and if they don't get control of their assets, it's going to cost a lot of time and money. Digital Asset Management (DAM) technology offers solutions for industries across the board, the travel and hospitality industry is no different. In fact, in an industry where digital assets are so necessary, it is important that hotel groups understand what value a DAM solution can offer. Utilizing this technology will help you to effectively organize, access, share and store your digital assets.A common issue with digital assets in the hospitality industry (photos, videos, virtual tours, marketing material etc.) is that they are difficult to keep up-to-date for each person that is granted access to them. For example, a hotelier may have their property's images stored on their computer and, at the same time, someone else at a corporate level may have access to different, smaller or outdated images on their computer. A DAM solution enables hotel groups to control all of their digital assets from one central location that is accessible from anywhere 24/7. This allows for collaboration while ensuring consistency for each user as the most up-to-date assets will always be what they are accessing.Another benefit of DAM technology is that it allows approved users like tour operators, PR partners, marketing companies and other internal/external stakeholders to view, select and get the asset(s). This integration ensures that the content you have displayed across the web (even on brand.com site) is consistent, accurate and fresh.DAM systems save time and money. Fifty three percent of companies spend more time on operational details of managing content (Accenture Interactive.) Rather than multiple departments and locations uploading the same content into their own computer systems (as many call silos,) the content should be uploaded one time into a central Digital Asset Management repository. Stakeholders who need and want the content will access the system and find streamlined file search and retrieval. This allows users to more efficiently find what they are looking for and eliminates the cost of recreating lost or misplaced assets.Visual content is perhaps the most important factor when it comes to travel planning. As this content continues to become essential to travelers' booking decisions, it is now imperative that hotels find ways to effectively manage their assets. DAM technology gives hotel groups an avenue to organize all of their conten t and simplifies the process of accessing, sharing and distributing it.
RobertDouglas announced today that it advised McNeill Hotel Company in securing a $38 million non-recourse senior mortgage and arranging joint venture equity for the acquisition of three select service hotels in Idaho and Utah. The 10-year, fixed-rate financing was provided by Bank of America Merrill Lynch and will be contributed to a commercial mortgage backed securitization pool.
Drury Hotels, a family-owned and operated hotel chain, is planning new properties in downtown Nashville, Indianapolis, Milwaukee and the Dallas Metroplex. The properties are part of a larger expansion, which includes 28 new locations across 15 states over the next two years.
Broadvine, a leader in Business Intelligence and Analytics software for the hospitality industry, announced today that it is implementing its cloud-based Reporting modules, including Labor Management, for Heart of America Group, one of the premier design, construction, and management companies in the Midwest.
StayNTouch, an innovator in mobile technology and Property Management Systems (PMS) for hotels, is pleased to announce it's partnership with Filament Hospitality where it plans to deploy its Rover PMS™ and Zest™ products across its entire portfolio of hotels.
apaleo, the company creating the Open Hotel Management Platform and Eco System has announced the completion of its first round of funding. Founder and chairman Martin Reents comments, 'The system we are currently developing at apaleo is the most important technology project the hotel industry has seen for a long time and we believe that this will become a real game changer in hospitality software. An important project like this requires a great team, a good product vision and strategy, and solid funding, which most young startups are struggling with. At apaleo we have placed a great deal of emphasis on establishing the right company and financial structure very early on and we are now entering the next phase with our seed finance round which we have just concluded.'
RobertDouglas announced today that it advised on the refinancing of the Luxe Rodeo Drive Hotel in Beverly Hills, California. The low-leverage, ten-year, fixed-rate, interest-only financing was provided by a leading real estate finance company and will ultimately be contributed to a commercial mortgage backed securitization pool. The terms of the refinancing were not disclosed.
InvoTech Systems Inc. announced the recent implementation of its Uniform System at the new Waldorf Astoria Beverly Hills that opened June 1. InvoTech Systems is the leading provider of advanced Linen Management, Laundry and Uniform Systems that integrate the latest RFID technology to increase profitability for hotels, resorts, casino operators, sports arenas, convention centers and theme parks. The InvoTech System installed at Waldorf Astoria Beverly Hills manages the uniform inventory for 400 employees, and joins InvoTech System's extensive client portfolio of Hotels & Resorts worldwide. Click here for more information on InvoTech's Linen, Laundry and Uniform Systems.
Keeping your facilities in top condition for your guests while staying mindful of budgets is an important initiative, and a computerized maintenance management system (CMMS) complements your objectives perfectly.
RobertDouglas announced today that it advised Ashford Hositality Prime, Inc in securing a $51 million non-recourse senior mortgage to finance their acquisition of the 80-room Hotel Yountville with a national commercial bank.