MGM Resorts International and ORIX Corporation Joint Venture to Develop a Multi-billion Dollar Integrated Resort in Osaka Prefecture, Coliwoo and Four Star Launch Joint Venture to Acquire Balestier Hotel, Oriental Holdings Sold Melbourne’s Bayview on the Park, Sunway Group Launching First Hotel in Johor Bahru’s Mixed-use Development.
LBA Hospitality, based in Dothan, Ala., and 3H Group, headquartered in Chattanooga, Tenn., announced the formation of their new strategic alliance, which empowers LBA Hospitality and 3H Group to enlarge their respective companies while remaining focused on expansion of their hotel management platform. As evident from historic accomplishments, both companies are leaders in hospitality management and development, and this alliance sets them up for continued success as they merge their shared vision and expertise.
Having observed increased consumer confidence in the French market through encouraging domestic leisure travel in July and August, Choice Hotels EMEA has this week attended the Franchise Expo Paris and Global Lodging Forum, both held in Paris, to meet with franchisees and focus on growth in the market.
The Global Hospitality Group® of Jeffer Mangels Butler & Mitchell LLP (JMBM) is pleased to announce its representation of Condor Hospitality Trust in the sale of the company’s entire portfolio to Blackstone Real Estate Partners. The $305 million deal was announced September 23, 2021 and is expected to close by the end of the year.
Meliá Hotels International, the leading hotel company in Spain and one of the largest hotel groups in the world, continues to boost growth through franchising, leveraging the strength of its sales relations with major travel partners, the strong positioning of its brands and its advanced digitalisation to provided added value to independent hotels that sign up to its portfolio. As a further boost to its strategy, the company has now reached an agreement with BBVA bank to offer potential Meliá franchisees access to preferential financing conditions to meet their cash needs, together with a wide range of complementary financial products.
Be sure to check out the latest HospitalityMD interview with David Lund, the Hotel Financial Coach. Having a grasp on the financials for your hotel is paramount in being able to run your department or division properly. David gives actionable advice and provides some great resources to help anyone achieve the level of financial acumen needed to run a hotel.
Cascade Investment to acquire controlling stake in Four Seasons, Gem Hotels acquires Wardrobe Court Serviced Apartments in London from British Land, Starwood acquires Hotel Vesterbro, Copenhagen from Strawberry Hospitality, Long Harbour acquires freehold interest in Hampton by Hilton Munich Airport South, Santander offloads debt of 13 Spanish Luxury hotels to Bybrook, Knight Frank IM acquires Premier Inn Beverley, UK from Wykeland, Odense acquires Stella Maris Hotel de Luxe in Svendborg, Denmark from Vejrø, Salboy acquires Best Western Hotel Bristol in Cornwall UK from Young family.
Create hotel teams who know how to Increase profit. David Lund is The Hotel Financial Coach, a hospitality financial leadership pioneer. He has held positions as Regional Controller, Corporate Director, and Hotel Manager with an international brand for over 30 years. David authored an award-winning workshop on financial leadership and has delivered it and others to hundreds of hotel managers.
Four Seasons Hotels and Resorts ("Four Seasons" or "the Company"), the world's leading luxury hospitality company, today announced that its longstanding shareholder, an affiliate of Cascade Investment, L.L.C. (collectively, "Cascade"), has entered into a definitive agreement to acquire a controlling interest in the Company. In the all-cash deal, Cascade will increase its existing 47.5 percent stake to 71.25 percent by purchasing half of the existing 47.5 percent stake owned by an affiliate of its long-term investment partner Kingdom Holding Company ("KHC") for $2.21 billion, valuing Four Seasons at a $10 billion enterprise value. Four Seasons Founder and Chairman, Isadore Sharp, through Triples Holdings Limited ("Triples Holdings") will retain his 5% stake.
Here are three ways I can help you create a policy manual with an internal control review process.
Ashford Hospitality Trust, Inc. (NYSE: AHT) (“Ashford Trust” or the “Company”) today announced that it has successfully refinanced its mortgage loan for the 390-room Hilton Boston Back Bay in Boston, Massachusetts which had a final maturity date in November 2022. The Company had only one significant final debt maturity in 2022, but this financing addresses that loan. Furthermore, the Company was able to complete this financing with a best-in-class institutional balance sheet lender.
The Hospitality Sales & Marketing Association International (HSMAI) Foundation is supporting the hospitality industry by distributing a second round of COVID Relief Fund grants to hospitality professionals worldwide, bringing the total amount of grants to $170,000 distributed to nearly 400 recipients worldwide.The HSMAI Foundation COVID Relief Fund was established in 2020 with the generous support of benefactors and individual donors. The fund provides HSMAI membership and educational grants for HSMAI programs to members and non-member industry professionals in need due to challenging circumstances related to the global pandemic.HSMAI Foundation COVID Relief Fund grant requests were distributed to in all HSMAI global regions: Americas, Europe, Asia Pacific, and Middle East. The grants represented a mix of educational services and programs.
The Hospitality Mavericks Episode 119 – Featuring - David Lund, Founder of The Hotel Financial Coach, on Financial Leadership with Michael Tingsager
According to research conducted by the World Travel & Tourism Council (WTTC), the South African economy could face massive losses of more than ZAR 181 million every week it’s on the UK’s ‘red list’ for travel.
It's business thinking that you want your operational managers to possess, not accouting. Learning how to manage their payroll and expenses is the key.
Peachtree Hotel Group (“Peachtree”), a real estate private equity investment firm, announced that it had acquired more than $1 billion in stressed and distressed real estate assets since June 2020.
MGP to be acquired by VICI in stock-for-stock transaction valuing MGP at $17.2 billion. MGM Resorts to receive cash proceeds of approximately $4.4 billion and retain VICI operating partnership stake worth approximately $370 million, Premium valuation represents 17.5x pro rata EBITDA multiple Transaction delivers on the Company's asset-light strategy
The Microtel Lift Incentive Program supports Microtel by Wyndham owners based in the U.S. by offering forgivable note funding of up to $2,000 per room from Wyndham to supplement franchisees' investment in hotel renovations that reflect elements of the brand's new design-forward Moda prototype, which is the first of its kind in the economy select service segment.
Ascott Residence Trust (ART) raised its distribution per stapled security (DPS) for 1H 2021 by 95% to 2.05 cents compared to 1H 2020 through active portfolio optimisation. ART achieved S$360 million in net gains from its divestments from 2019 to 2021 to date. The distributable income for 1H 2021 grew 96% year-on-year (y-o-y) to S$63.8 million. The distributable income for 1H 2021 included a one-off partial distribution of divestment gains of S$20 million to share divestment gains with Stapled Securityholders, replace income loss from divested assets and mitigate the impact of COVID-19 on distributions. It also included termination fee income received[1]1 and realised exchange gains.
HVS Monday Musings: Rebooting Inbound Tourism in India By Mandeep S Lamba and Dipti Mohan This article highlights some measures which can help India become a preferred tourist destination once again for global travelers in the post-COVID era.