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Press Releases

Press Release

The Hotel Financial Coach Unveils Comprehensive Hotel Accounting Policy Manual & Internal Control Review Programs

Hotel Financial Coach, a leading provider of financial management solutions for the hospitality industry, is excited to announce the launch of its groundbreaking Hotel Accounting Policy Manual & Internal Control Review Programs. This innovative suite of services is designed to enhance financial accuracy, operational efficiency, and regulatory compliance for hotels of all sizes.

David Lund
Press Release

CapitaLand Ascott Trust fully acquires student accommodation property Standard at Columbia to boost income resilience

CapitaLand Ascott Trust (CLAS) has acquired the remaining 10% stake in Standard at Columbia, a freehold student accommodation property in South Carolina, United States of America (USA). The earnings before interest, taxes, depreciation and amortisation (EBITDA) yield on total development cost is expected to be approximately 7%. This is higher than the 6.2% EBITDA yield that was projected in 2021 on the basis that the property has achieved stable performance. The acquisition is funded by proceeds from CLAS’ earlier divestments.

The Ascott Limited
Columbia, South Carolina, United States
Press Release

Ernest N. Morial New Orleans Exhibition Hall Authority Takes Steps to Develop a Headquarters Hotel

The Ernest N. Morial New Orleans Exhibition Hall Authority (the Authority) has approved two resolutions critical to moving forward with the development of a 1,000-room headquarters hotel for the New Orleans Ernest N. Morial Convention Center (NOENMCC). In addition to accepting a formal letter of intent (LOI) with Omni Hotels & Resorts (Omni) to own and operate the headquarters hotel, today the Authority voted to approve a purchase and sale agreement for property at Convention Center Boulevard and Andrew Higgins Boulevard. The site, currently operated as the Sugar Mill event venue, is immediately across the street from the Convention Center and is the preferred site for the new headquarters hotel.

Omni
New Orleans, Louisiana, United States
Press Release

Hotel Financials: Key Changes in USALI 12th Edition

The 12th revised edition of the Uniform System of Accounts for the Lodging Industry (USALI) fundamentally enhances the transparency of financial and operational aspects in the hospitality industry. To quote Sir Arthur Conan Doyle's iconic character Sherlock Holmes, “It is a capital mistake to theorize before one has data.”

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Press Release

HFTP and Hospitality Net Partner on Investment Sentiment Survey, Ahead of the Inaugural HITEC Technology IC

Hospitality Net and Hospitality Financial and Technology Professionals (HFTP®) are collaborating on a brand-new survey which aims to gather and analyze data on current investment trends, funding needs, future investment priorities, technology adoption rates, and the overall market dynamics within the hotel technology ecosystem. The objective is to identify areas of growth, potential investment opportunities, challenges facing the sector, and how technological innovations are shaping the future of the hotel industry.

HFTP and Hospitality Net
Press Release

Economic Watch: Fed Holds Rates Steady; Still Expects Three Cuts This Year

The prospect of higher inflation in coming months will likely cause volatility in financial markets. However, CBRE expects inflation will ease toward the Fed’s 2% target as the year progresses. While it’s too early for the Fed to declare victory on inflation, forward indicators point toward softening in the labor market. This should give the Fed confidence to make its first rate cut in June. With two additional rate cuts expected this year, CBRE forecasts that the federal funds rate will end the year at a range of 4.50% to 4.75%, while the 10-year Treasury yield is expected to fall to 3.7% from about 4.3% currently.

CBRE Hotels
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