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September 30, 2009

Molinaro Koger Sells The Raleigh Hotel South Beach

Molinaro Koger announced today the firm arranged the sale of The Raleigh Hotel South Beach Miami. One of the most high-profile boutique properties in South Beach, the 104-room Raleigh Hotel was purchased by a group of high net worth investors based in South America for an undisclosed price. “A South Beach landmark and rendezvous for celebrities and the socially prominent, the luxurious Raleigh attracted immediate investor interest. We were pleased to foster a bidding environment that returned highly competitive pricing for this one of a kind asset,” commented Ali Baheri, Vice President of MK, who marketed the hotel and structured the transaction.

Miami Beach, Florida, United States

August 27, 2009

Paramount Lodging Advisors and Work Out Specialists Hardisty Baxter Team Up to Create Distressed Hospitality Services Group

Full service hotel brokerage and advisory firm Paramount Lodging Advisors has merged with hospitality real estate services firm Hardisty Baxter to open PARAMOUNT™'s new Southern California office.

Hardisty Baxter

Los Angeles, California, United States

July 8, 2009

Develhotel.com, the first online marketplace to help hospitality companies and real estate developers work more efficiently, goes live today

Under the current economic climate, it is becoming more necessary to achieve further efficiencies in the way hospitality groups, investors and real estate developers plan, design and deliver hotel and resort projects worldwide. The sudden decrease in hotel occupancy, together with the difficulties in financing ongoing hotel and resort construction projects has lead to the re-evaluation of how the different players in the hotel industry develop hotel assets today. In addition, the hospitality and real estate industries have traditionally relied on extensive face-to-face interaction between developers, investors and hotel companies and in an intimate local knowledge of each geographical market. As a result, the development process of leisure real estate projects and city hotels has historically been expensive and time intensive.

April 7, 2009

Former Choice Hotels Executive Launches Hospitality Brokerage & Consulting Firm

Ron Burgett, a 21 year veteran of hotel real estate investment and development, has opened a brokerage and hospitality consulting firm, Hospitality Sales Group (HSG), headquartered in Indianapolis, Indiana. The company's core business is commercial real estate brokerage, with expanded services in site selection, hotel evaluation, and franchise negotiation. HSG has also affiliated with established firms offering property management services and FF&E procurement. The company has immediate plans to open HSG offices in four cities across the country, working with other brokers, franchise executives, and real estate professionals nationwide.

Hospitality Sales Group. LLC

Indianapolis, Indiana, United States

March 12, 2009

Magnuson Hotels Launches Smith Travel Research (STR)-Based Services To Outperform Franchises

SPOKANE, WA -- Magnuson Hotels, the world’s largest independent hotel group, announced today the launch of Smith Travel Research (STR)-based hotel performance services. The industry-first free service upgrade by Magnuson will help hotels perform better than their local and national STR competitive set without the burden of franchise costs.

Magnuson Hotels

March 9, 2009

European Hoteliers to get Revenue Advantage through IDeaS Knowledge Base

IDeaS Revenue Optimization, the leading provider of revenue management and optimization solutions and services, announced today they are committing extra resources to the European market as a result of the continuing economic instability.

February 24, 2009

Larkin Hospitality Finances Four Hotels Despite Credit Crunch

DALLAS, TX -- Larkin Hospitality Finance, a national hotel investment firm specializing in financing hotel properties, announced today that it recently closed four separate loans totaling $16.6 million for their clients.

Larkin Hospitality Finance

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Hospitality Financial and Technology Professionals (HFTP)

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February 23, 2009

EasyRMS to Host Revenue Management Education Seminars throughout Asia

Easy (Ez) Revenue Management Solutions, a world-wide provider of state-of-the-art Solutions & Services in the area of Hospitality Revenue & Yield Management, is hosting a series of seminars on Pricing and Revenue Management concepts and principles. The first three of these seminars will be hosted in the Chinese cities of Beijing, Shanghai and Shenzhen in March 2009.

February 5, 2009

HomeAway Boosts European Listings with Acquisition of Homelidays

HomeAway, Inc., the world's leading online vacation rental marketplace, today announced its acquisition of Paris-based Homelidays SAS. Homelidays operates Homelidays.com, the largest pan-European for-rent-by-owner vacation rental or "self-catering" site, featuring more than 40,000 listings. The terms of the deal were not disclosed.

December 19, 2008

The Knowland Group Acquires Denver Area Market Research Firm

In a strategic move to provide the most comprehensive database of potential new customers to the Denver hotel industry, The Knowland Group, the nation’s leading provider of market research to the group meetings market, has purchased locally owned and operated E-Z Reader. The move is part of a continuing effort by Knowland to acquire smaller, more localized companies, such as E-Z Reader. This acquisition merges the high quality data garnered by E-Z Reader from 1998 through today with the innovative technology and services offerings provided by Knowland.

December 5, 2008

First American Realty Associates secures construction and permanent loan funding for the proposed Conference Center at the Brookstown Inn in Winston Salem NC

Joe Epstein, President of First American Realty Associates, nationwide specialist in hotel financing, is pleased to announce that he has secured construction and permanent loan funding in the amount of $4,550,000 on the proposed Conference Center at the Brookstown Inn located at 126 Brookstown Avenue just south of the Central Business District near the Old Salem historic area in Winston Salem, North Carolina.

First American Realty Associates, LLC (NJ)

Winston Salem NC, United States

December 5, 2008

Grand Heritage Hotel Group Signs Long-term Management Contract On Grove Isle Resort & Spa

Grand Heritage Management Company is pleased to announce a twelve-year management contract with Grove Isle Resort & Spa located on Grove Isle in Miami, Florida. With extension, the term could run for 22 years. The four-diamond hotel offers: 49 elegant oversized guestrooms (each with private terraces and views of Biscayne Bay), 8,000 square feet of meeting space, the full-service SpaTerre, a 12 state-of-the-art, championship-court tennis center, and a Club component with on-and-off island memberships. The hotel, ranked #2 of “Top Performers” by Lodging Hospitality, October, 2008, is also home to Baleen Miami, one of the top restaurants in Miami.

Grand Heritage Hotel Management

Miami, United States

November 3, 2008

Molinaro Koger to Sell Le Méridien Piccadilly On behalf of Lehman/Starwood JV

Starman Hotels, a hotel investment joint venture between affiliates of Lehman Brothers and Starwood Capital Group, has assigned Molinaro Koger to sell the five star Le Méridien hotel on Piccadilly, in central London. The historic Grade II listed 267-room property will be sold subject to a management agreement with Starwood Hotels & Resorts and will continue to operate as a Le Méridien hotel.

October 30, 2008

Wyndham Hotel Group Promotes Development Executive

PARSIPPANY, N.J. (Oct. 29, 2008) -- Wyndham Hotel Group today announced the promotion of Don Li to regional vice president of development in China and Japan, responsible for the growth and development of the Wyndham®, Ramada®, Days Inn®, Super 8® and Howard Johnson® brands.

October 2, 2008

Molinaro Koger Arranges Financing for €141 Million Acquisition of Hotel Prince de Galles, Paris

Molinaro Koger announced today that the company has arranged the financing for the purchase of the freehold of the Hotel Prince de Galles in Paris, on behalf of the Musallam family. The Saudi-based family has owned the leasehold on the property for 16 years. Ali Baheri, Managing Director of MK’s Middle East operations and Ed Blum, Managing Director of MK’s Capital Markets Group, both worked on the transaction.

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July 29, 2008

New Study Details Hotel, Car Rental, and Meal Taxes in Top U.S. Markets

The National Business Travel Association (NBTA) today released the findings of a comprehensive study of car rental, hotel and meal taxes in the top 50 U.S. travel destination cities (by number of air travelers), funded in part by the association's research and education foundation, the NBTA Foundation.

May 13, 2008

R.D. Olson Development Completes Sale of Two California Hotels

R.D. Olson Development has sold two of its Southern California hotels--one inspired by Hollywood, the other by Southland beach culture—to Apple REIT 8 for $80 million. Irvine-based R.D. Olson last year completed development of both hotels, the Marriott Residence Inn, Burbank at 321 S. First St. and Marriott Residence Inn, Oceanside at 3603 Ocean Ranch Blvd.

R.D. Olson Development

May 13, 2008

MK Closes Portfolio Sale of Two Northeast Fairfield Inns To Accor North America

Molinaro Koger (MK) announced today they facilitated the marketing and sale of two former Fairfield Inns on behalf of an undisclosed seller. The two assets included the 130-room Fairfield Inn Buffalo-Williamsville, New York; and the 129-room Fairfield Inn Cleveland-Willoughby, Ohio. The two well-located assets were acquired by Accor North America for an undisclosed sum and immediately converted to their rapidly expanding Motel 6 brand.

May 8, 2008

Global Asset Solution Announces Opening Of Singapore Office

Mr. Alex Sogno, founder and Managing Director of Global Asset Solution is proud to announce the opening of the Singapore Office. Global Asset Solution is the Leading Hotel Asset Management Company serving Asia Pacific and Middle East. The first Global Asset Solution office in Bali, Indonesia will mainly concentrate on the national Hotel market as well as assisting hotel owners with brand new projects on the fast developing island of Bali. The Singapore office will be responsible for the development of the Hotel Asset Management throughout Asia Pacific as well as the Middle East which should soon see the opening of its regional office in Dubai.

April 17, 2008

Molinaro Koger Arranges Sale of Chicago-area AmeriSuites to Noble Investment Group

Molinaro Koger (MK) announced today the firm’s Chicago office facilitated the marketing and sale of the AmeriSuites hotel Chicago/Schaumburg, Illinois, on behalf of VK Suites a private investment firm affiliated with VK Development and based in Milwaukee, Wisconsin. Atlanta-based Noble Investment Group acquired the 126-room AmeriSuites. The Chicago-area asset will undergo a comprehensive $5 million dollar repositioning and re-open as Hyatt Place Chicago/Schaumburg later this year.