Finance Supplier News - Hospitality Net

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December 4, 2006

MK Structures Disposition of Three Select Service Hotels in Metro-Birmingham, Alabama

Atlanta, Georgia | Molinaro Koger (MK) announced today the successful completion of a transaction involving a group of select service hotels located in metro Birmingham, Alabama, which MK structured on behalf of a regional investor client. The group of properties consisted of the Hampton Inn, Holiday Inn Express and Comfort Suites in Fultondale, Alabama, a dynamic and growing suburb located just north of Birmingham. These assets were acquired by a related entity of Stafford Hospitality and were previously managed by H.P. Hotels, headquartered in Birmingham.

November 30, 2006

VingCard Combating Rising Prices of Base Metals Copper and Zinc

As the industry’s leading developer of electronic locks continues to introduce new, design-centric security solutions for hotels and resorts, the company will assess an 8 percent end-user price increase, from Jan1st 2007, to offset dramatic price hike for brass components in the last two years.

Vingcard, an ASSA ABLOY brand

November 15, 2006

Basar International offer new revenue stream for hotel Industry

Basar International Group in partnership with First Data Corporation have created a system that allows Hotels and other real estate enities to generate income from their network of Hotels under management.

Basar International Group Inc and Basar International Group Inc

November 6, 2006

Texas Comfort Suites Property Refinances And Expands

DALLAS, TX | The owners of the Comfort Suites in Stafford, TX recently closed on the refinance of their 68-room hotel. In addition to paying off the existing 10-year conduit/CMBS loan one year early, the borrowers both achieved their target leverage and extracted equity to add 15 additional suites to the property. The 10-year fixed-rate refinancing program carried par pricing, allows for free pre-payment after 5 years, and provided an early rate-lock at application.

Larkin Hospitality Finance

October 30, 2006

SideStep, Inc. Acquires TravelPost.com

SANTA CLARA, Calif. | SideStep, Inc. (www.sidestep.com), the Internet's leading travel search company, today announced the completion of its acquisition of TravelPost.com (http://www.travelpost.com/), the largest independently owned site for hotel reviews and ratings. The transaction was finalized on Tuesday, October 31, 2006.

October 27, 2006

Principal Real Estate Investors Enters Hotel Debt/Equity Arena

Des Moines, Iowa | Principal Real Estate Investors, the real estate investment arm of Principal Global Investors, is launching a new hotel investment capability, further enhancing its already strong investment platform in the traditional sectors of retail, office, multifamily and industrial.

Principal Financial and Principal Financial

October 26, 2006

MICROS Reports Fiscal 2007 First Quarter Results

COLUMBIA, Md. | MICROS Systems, Inc. (Nasdaq: MCRS), a leading supplier of information systems to the hospitality and retail industries, today announced the results for its fiscal 2007 first quarter ended September 30, 2006.

Oracle Hospitality

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October 26, 2006

Major Chains Report Internet Bookings Growth of 20 Percent in Q2 2006 As Consumers Continue to Choose Electronic Channels

CHICAGO | Consumers continue a three-year upward trend of shopping for hotels online and booking electronically, according to TravelCLICK's consolidated second quarter eTRAK results, released today. The data shows the Internet contributed 37.3 percent, or 7,605,440 reservations, of the total Central Reservation Office (CRO) reservations at major hotel brands, a 19.9 percent increase compared to the same period in 2005. The data also highlights the continuing importance of Global Distribution System (GDS) e-commerce with 36.4 percent, or 7,425,301 bookings, of CRO reservations coming through those channels, a 4 percent increase over Q1 2006. This is the first quarter that Internet reservations surpassed GDS reservations, or bookings made through the travel agent-focused Global Distribution System (GDS).

TravelClick, Inc.

September 24, 2006

First American Realty Associates Arranges $2.1 Million Ramada Acquisition Loan

DALLAS, TX | First American Realty Associates, LLC recently arranged a $2,100,000 acquisition loan on a Ramada Inn in Kilgore, Texas. The 85% LTV loan included $300,000 for an extensive renovation of the 80-room property. The Wyndham Worldwide-franchised Kilgore Ramada is the 510th hotel financed by First American Realty.

Larkin Hospitality Finance

September 21, 2006

Destination Properties Acquires Family Beach Resort in Phuket, Thailand

Destination Properties Co., Ltd. announces its acquisition of Felix Resort, a 125 room beachfront resort in Karon Beach, Phuket. The property will be branded with an international operator yet to be announced.

Destination Properties

September 13, 2006

City Lodge South Africa chooses Amadeus Hospitality as IT partner for its 40 hotels

Munich, Germany | After only twelve months - one and a half months ahead of schedule - the rollout for the 40 City Lodge hotels spanning the one to four star segment and branded as Courtyard, City Lodge, Town Lodge and Road Lodge, has been completed in mid-May 2006. By now all 4,365 rooms are available on one single central platform. The technology behind it: Amadeus Hotel Multiproperty (Hogatex).

September 12, 2006

Vantage Hospitality Named to INC. 500 List of Fastest-Growing Companies

CORAL SPRINGS, Fla., Inc. magazine added Vantage Hospitality, the 12th largest hotel company worldwide, to its INC. 500 list of fastest-growing private companies. Posting a revenue growth of over 307 percent between 2002 and 2005, Vantage is the only hotel company featured on the prominent list and is ranked 492. Former honorees of this prestigious list include Microsoft, Timberland, and Dominos pizza.

September 10, 2006

Classical Hotels in Greece selects IDeaS for deployment in its city based properties

Athens, Greece and Minneapolis, Minnesota | IDeaS, the leading provider of revenue optimization solutions and one of the industry’s fastest growing technology companies today announced that Classical Hotels, the city-hotels within Grecotel, Greece’s largest hotel chain, has signed a deal with IDeaS to install IDeaS v5i revenue optimization solution at several of its city hotels including locations in Athens, Thessaloniki and Sofia.

August 17, 2006

First American Realty Associates Arranges $6.5 million Hampton Inn & Suites Refinance

DALLAS, TX | First American Realty Associates, LLC has finalized a $6,500,000 conduit-refinancing loan on the 8-month old Hampton Inn & Suites in Yuma, Arizona. The 10-year loan carried a 30-year amortization schedule. The Hilton-franchised Yuma property is the 507th hotel financed by First American Realty.

Larkin Hospitality Finance

August 16, 2006

Hotel Advisory Group of Donohoe/Corfac Int’l Arranges Sale of the Morrison House in Historic Old Town Alexandria

Donohoe/Corfac International, one of the leading, independent commercial real estate service providers in the Mid-Atlantic successfully represented seller OTAP, INC. in the sale of the Morrison House Hotel located in Old Town Alexandria, Va. The hotel was purchased by CLPF-Morrison House Venture, L.P. for $14.4 million.

The Donohoe Companies and The Donohoe Companies

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June 5, 2006

National Association Of Condo Hotel Owners Market Analysis Finds Las Vegas Condo Hotel Market Sizzling Hot

Scottsdale, AZ | The Las Vegas condo hotel market is sizzling hot with record sales and consumers appear to embrace the condo hotel concept with open arms and open wallets according to the recent market review of the Las Vegas strip completed by the National Association of Condo Hotel Owners. With little historical data to draw from, since this is the first time residential real estate has been made available on the Strip, the National Association of Condo Hotel Owners is truly surveying virgin territory on behalf of its membership.

National Association of Condo Hotels (NACHO)

June 4, 2006

Accurate Forecasts Achieved Using Carnus Systems Automated Software at 966-Room Hyatt Hotel

SAN FRANCISCO, The Hyatt Regency Jacksonville Riverfront, which is owned by Oxford Lodging Advisory & Investment Group, LLC and was the headquarters hotel for Super Bowl XXXIX, purchased a two-year subscription to a hospitality forecasting software developed by Carnus Systems after a successful trial period in which the “Carnus F&B Forecaster” yielded accurate restaurant and room service cover and labor forecasts.

Carnus Systems,Inc.

May 23, 2006

GuestInvest Sets Sight on U.S. Real Estate Investors

Hollywood, Florida | GuestInvest, the UK’s first condo hotel company, is expanding its portfolio of London-based properties to meet growing demand from US investors for European real estate.

GuestInvest and GuestInvest

March 14, 2006

Molinaro Koger Advises on £150 Million Great Eastern Hotel Transaction

London, United Kingdom | Molinaro Koger (MK) announced today that it acted on behalf of joint owners, Conran Holdings and the Blackstone Group, in the successful sale of the Great Eastern Hotel, London. The grade II-listed property on Liverpool Street was sold to Global Hyatt Corporate and JER Partners for £150 million. It is expected that the hotel will re-brand as a Hyatt in January 2007.

March 1, 2006

Newmarket International, Inc. Acquires Daylight Software

Portsmouth, NH -- Sean O’Neill, President and Chief Executive Officer of Newmarket International, the leader in group sales and catering software solutions for the hospitality industry, announced today that the company has acquired Daylight Software.

Amadeus Hospitality

The End of "Pay at Hotel"?

By Mark Fancourt

Expert Views (7)

The most significant impact might not be operational, but psychological. Why? Because it's the hotel industry's fault. Let me explain:For years, hotels have trained guests to treat bookings as placeholders: reserve today, decide later.

View all Answers

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