In times gone by it was much easier for hotels. If a guest has a bad experience, they might tell their family and a few friends, but that is all. The internet changed all of this and now if a guest has a bad experience in a hotel, they will very often post a review about it online, that will be available for all future customers to read.
RobertDouglas announced today that it advised Normandy Real Estate Partners and Contrarian Capital Management in the sale of the 114‐key Ames Boston Hotel, a boutique luxury hotel in the heart of downtown Boston, to Gencom, one of North America's leading luxury hotel and residential investment and development firms.
Colicchio Consulting, a leading strategic management firm bringing together the world's most distinctive hotels and internationally renowned culinary talent, announced agreements that brought Boston Chef Tim Cushman to open O Ya restaurant and Roof bar at NYC's Park South Hotel and famed Chef Tom Colicchio to open a restaurant, event space and lounge at The Beekman, the much anticipated Thompson Hotel in Lower Manhattan in 2016.
CBRE Group, Inc. (NYSE:CBG) today announced that it has acquired PKF Consulting Inc. (PKF Canada), a leading advisory, consulting and research firm in Canada specializing in the Canadian hospitality and tourism industries.
The International Society of Hospitality Consultants (ISHC), in conjunction with the Hotel Asset Managers Association (HAMA) has published ISHC CapEx 2014: A Study of Capital Expenditures in the Hotel Industry. The book is distributed by the American Hotel & Lodging Educational Institute (AHLEI), which receives proceeds from the sale of the book.Previous editions of this study were released in 1995, 2000, and 2007. More than 20 industry experts from the memberships of both organizations contributed to the book, led by the CapEx 2014 Committee, whose members include: Alan Benjamin, ISHC; Michael Doyle, HAMA; Tim Dick, ISHC and HAMA; Steven Hennis, ISHC; Kristen Knox, HAMA; Jonathan Nehmer, ISHC; and Chad Sorrenson, ISHC and HAMA.The information presented in the book was derived from data collected from 502 U.S. hotels representing 42 hotel brands and independent hotels in the full service, select service, and extended stay sectors.The book is divided into three sections.• Historical Capital Spending, including information on repair and maintenance expenses, and spending based on ownership structure• Perspectives on Capital Spending, featuring 18 articles by ISHC and HAMA experts• JN+A/HVS Design Hotel Cost Estimating Guide, which provides useful data on every aspect of CapEx, from FF&E product costs to labor costs, broken down by hotel tier (from economy to luxury)With the data provided by the CapEx 2014 study, hospitality industry decision makers can better evaluate and make informed decisions with regard to capital expenditures for their properties. It also demonstrates how hotel assets are subject to cyclical trends and activities, as well as the political and social events that shape society.The book is available in both digital and print versions. The print version comes with a code that provides access to the digital version of the book. The digital version of the book is designed for online viewing, with the ability to search keywords, add notes and bookmarks, increase or decrease font size, and enlarge images. The digital book's content is not printable.For more information or to order, visit www.ahlei.org/capex2014, or call 1.800.349.0299 or +1.407.999.8100.
LeisureLink has been selected to present to an exclusive group of senior-level investors and top executives at The Montgomery Summit in Santa Monica, Calif. More than 4,000 entrepreneurs from private growth technology companies were nominated to present at the two-day event March 10 & 11, but only 145 were chosen by The Summit's selection committee of top venture capitalists from firms including Andreessen Horowitz, Kleiner Perkins Caufield Byers, New Enterprise Associates, Pritzker Group Venture Capital, Scale Venture Partners, Institutional Venture Partners and March Capital Partners.
HTL hotels, the Stockholm-based new generation hotel company, is opening two properties in Oslo this year: the first opened in January and the second is scheduled to open during late spring. Just as at HTL in Stockholm, hetras is the PMS technology partner for the HTL hotels.
Magnuson Hotels, the world's largest independent hotel group, announced today the complete rebranding of the Magnuson Hotel Sharonville.
AM:PM Hotels, a leading provider of market intelligence on the hotel sector in the UK & Ireland, has launched a new online database of hotel closures. The AM:PM Hotel Database now incorporates details of more than 22,500 hotels with over 1 million rooms covering the past, present and future of hotel supply in the UK & Ireland. This includes over 6,000 hotel closures, the majority of which were independent and 2/3-star on closing.
"The acquisition of PKF Consulting USA, LLC, a leading advisory, consulting and research firm specializing in the lodging industry, significantly strengthens CBRE's objective of becoming the top global intermediary in hospitality services.
RobertDouglas announced today that it arranged in excess of $50 million of joint venture equity and senior financing for the acquisition by Haberhill LLC of the 917-key Renaissance Grand St. Louis. The $33 million, five-year, floating rate financing was provided by Deutsche Bank, and will be used to acquire and substantially renovate the hotel.
RobertDouglas announced today that it advised Canyon-Johnson Urban Fund III Centurion ICON LLC, a joint venture between Canyon Capital Realty Advisors (Canyon Realty) and Earvin "Magic" Johnson, in the $22 million financing of the Hotel ICON in Houston, Texas. Canyon acquired the Hotel ICON, which is an exclusive member of Marriott's Autograph Collection, in early 2011.
M&R Hotel Management today announced the opening of the Holiday Inn New York – JFK Airport, a new, 201-room, full-service hotel at the intersection of Brookville and Rockaway boulevards in Jamaica, N.Y., just east of John F. Kennedy International Airport.
obertDouglas announced today that it advised Chicago-based Lodging Capital Partners, LLC and Lubert-Adler Management Co., a Philadelphia-based investment firm, on the $22,600,000 acquisition financing of the Embassy Suites Memphis. The financing was provided by a national life insurance company.
The advice of "Carpe Diem" has never rung more true in the world of hotel investors. It is time to seize the day on financing rates, as the wind down of the Federal Reserve's quantitative easing program (QE3) and rising Treasury rates are signalling an increase in interest rates for hotel owners. The spectre of rising interest rates is resulting in an increase in borrowing on hotel assets, which is expected to continue for the next 36 to 48 months.
Lodging Econometrics (LE), the lodging industry's leading global partner for real estate intelligence, introduces a new array of cutting-edge programs and analytical products for companies looking to accelerate growth. Renowned as a leading provider of lodging expertise, global real estate intelligence, and up-to-date real estate data trends and analytics, the privately-owned firm has also launched a new website that combines dynamic analytical tools, industry support services, and customized business development programs to help the industry's leading companies create strategic advantage by accelerating their growth and outpacing competitors.
A 15-floor, 307-room Value Hotel WorldwideSM will be the largest and first upscale hotel to be built in the newly created city of Sejong, South Korea. The new construction hotel is expected to open in May next year and is the first Value Hotel Worldwide in South Korea.
Investment banking services firm RobertDouglas is pleased to announce that it has added two senior investment bankers, Stephen O'Connor and Chris Ropko, to its new Los Angeles office in Century City. O'Connor and Ropko will play a key role in originating, underwriting and executing lodging transactions from coast to coast.
RobertDouglas announced today that it advised New Enchantment LLC and their managers, The Enchantment Group, in the recently-completed financing of the Enchantment Resort and Mii Amo Spa. The financing was completed with MassMutual Life through its real estate affiliate, Cornerstone Real Estate.
The Lexington Inn flag is now flying at the former Best Western in Hammond, LA, conveniently located just a short distance between New Orleans and Baton Rouge. Following the Lexington Inn standards, the 60-room hotel has an exercise room and business center, and offers guests a complimentary, full breakfast each morning.