Finance Supplier News - Hospitality Net

September 1, 2004

Hogatex and Optims Group: 14,6% sales increase is mid-year result

Vaterstetten n. Munich, | 16,2 Mio. Euro consolidated sales volume: These are the mid-year figures for the French Optims Group, the leading European provider of software solutions for the hospitality and tourism industry. It amounts to a sales increase of 14,6% compared to last year’s mid-term results. Hogatex, which is a wholly owned Optims subsidiary since October 2002, contributed with a sales increase of 17,7% to this turnover.

Supplier News

July 12, 2004

Boyken Acquires Orlando Construction Consulting Firm

ORLANDO | Boyken International, Inc., Atlanta-based construction-consulting firm, has announced the acquisition of Development & Construction Advisors, Inc. (DCA) of Orlando. Terms were not disclosed. DCA is an Orlando-based construction-consulting firm that has served the resort and hospitality industry in Florida and elsewhere for more five years. The DCA team will be merged into Boyken’s Orlando offices. Edward Schrank, president and founder of DCA, will become vice president of Boyken International, responsible for management and operations of the firm’s Orlando office.

Boyken International, Inc.,

Supplier News

June 28, 2004

Grand Hotel Park d.d., Dubrovnik | Public Invitation to Tender by Submission of Bids for the Purchase of Shares in the Company

The Government of Croatia (GoC) is pursuing a policy of privatizing state-owned companies in a wide variety of industries, including tourism. The GoC, represented by the Croatian Privatization Fund (CPF) as owner of Grand Hotel Park d.d., has indicated its willingness to sell a majority stake in Grand Hotel Park. The shares of this company will be offered for sale to potential investors through a competitive tender process, organized and run by the CPF.

Croatian Privatization Fund (CPF)

Supplier News

June 24, 2004

Wyndham International Sells Four Hotels to Highland Hospitality Corporation for $227 Million

DALLAS | Wyndham International, Inc. (AMEX:WBR) announced today that it has entered into a definitive agreement with Highland Hospitality Corporation (NYSE:HIH) to sell four hotel properties for approximately $227 million. All net proceeds from the sale will be used to pay down debt.

Supplier News

June 8, 2004

Sunčani Hvar d.d., Hvar (10 Hotels, Craotia) | Invitation for Submission of Offers for Establishment of the Public-private Partnership in Company

Regarding the strategic importance of the Hvar island as tourist destination and significance of Sunčani Hvar d.d., Hvar (hereinafter: the “Company”) for Hvar's economy, the Government of the Republic of Croatia (hereafter: the “State”) has decided to exempt shares in the Company from standard sale procedure and has instructed the Fund to announce an international public invitation with the objective of creating a public-private partnership. Through this partnership the Fund seeks qualified private partners for new investment and professional management resulting in operational advancement of the Company.

Croatian Privatization Fund (CPF)

Supplier News

June 8, 2004

Hotel Split d.d., Split (1 Hotel, Croatia) | Public Invitation to Tender by Submission of Bids for Purchase of Shares in the Company

Short description of the Company: The company is located in the town of Split. Considering its position and offer variety it is presented as town, beach and congress hotel. The main operation of the Company is rendering tourism related services. Company consists of Hotel Split (current re-categorization into five star hotel) with 143 rooms and 8 apartments, hotel annexes (not operating and currently under reconstruction) and camping sites Trstenik and Stobreč. As on December 31, 2003 the total assets of the Company amounted to Kuna 121,5 million, while total liabilities amounted to Kuna 2,4 million. Estimated investment in the amount of minimally Kuna 40-50 million would significantly improve the quality of operation.

Croatian Privatization Fund (CPF)

Supplier News

May 17, 2004

Cendant TDS Hires Daryl Raiford as Chief Financial Officer, Executive Vice President, Finance & Administration

PARSIPPANY, N.J. | Cendant Travel Distribution Services (TDS), a division of Cendant Corp. (NYSE: CD - News), announced today that it has hired Daryl Raiford -- formerly vice president, finance and administration for the Hewlett-Packard Company in the Americas -- as its new chief financial officer and executive vice president, finance & administration, effective May 17.

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Supplier News

May 6, 2004

Stony Brook University Hospital Maximizes Fiscal Health with InfoGenesis

SANTA BARBARA, CA – InfoGenesis, a leading provider of hospitality information technology, today announced installation of Revelation point-of-sale (POS) solution at Stony Brook University Hospital in New York. The project, which replaced an existing POS solution, includes installation of IBM SurePOS 500 touch screen terminals and Microsoft Windows and SQL Server software to manage all food and beverage transactions throughout the property.

InfoGenesis

Supplier News

May 4, 2004

Pegasus Solutions Announces Sale of Travelweb Stake; Company Extends Services Agreement with Travelweb Through 2007

DALLAS | Pegasus Solutions, Inc. (Nasdaq:PEGS), a leading global provider of hotel reservations-related services and technology, today announced that it recently sold its 14 percent stake in Travelweb, LLC to Priceline.com.

Supplier News

November 26, 2003

ACT accredited to sell MICROS-Fidelio Financials

MIAMI, FL -- SunSystems and MICROS-Fidelio today announced that Egyptian-based ACT is the first of a global network of partners to achieve accreditation to sell the MICROS-Fidelio Financials powered by SunSystems (MFF) solution.

Oracle Hospitality

Supplier News

November 26, 2003

Interstate Hotels & Resorts, Inc. Announces Closing of Public Offering

ARLINGTON, Va. -- Interstate Hotels & Resorts, Inc. IHR, the nation's largest independent hotel management company, today announced the closing of its offering of 8,500,000 shares of common stock, par value $0.01 per share, at a price per share of $5.25. An additional 500,000 shares were sold by selling stockholders. The net offering proceeds to Interstate of approximately $42.3 million will be used to repay indebtedness under its senior credit facility.

Aimbridge EMEA

Supplier News

November 12, 2003

Pontiac Land Group builds S$150M small luxury hotel with villas in the green heritage on Sentosa Island

Singapore - Pontiac Land Group will develop a small luxury hotel with villas in the green heritage on Sentosa Island. At this exclusive estate, guests have the option of both short and long term stays.

Supplier News

October 19, 2003

Chase Park Plaza Deploying MICROS-Fidelio Financials After $105,000,000 Renovation to Historic Landmark

MIAMI, FL -- Systems Union Inc. and MICROS Systems, Inc. MCRS today announced that the Chase Park Plaza in Chicago, IL has purchased a license to MICROS-Fidelio Financials, powered by SunSystems (MFF). The Chase Park Plaza purchased MFF based on the reporting strengths inherent in SunSystems (the core back-office technology within MFF), and for its hospitality specific financial accounting functionality.

Oracle Hospitality

Supplier News

October 7, 2003

RevPAR Indexes, Reservations Increases Keep Baymont Inns & Suites Out In Front

MILWAUKEE, WIS. — Baymont Inns & Suites has come out of the gate lengths ahead of its competition in marketshare gains during the summer months of June, July and August 2003. Baymont Inns & Suites increased its system (company and franchise) RevPAR index by 3.1 percent, according to figures just released from Smith Travel Research. This achievement is keeping in stride with the brand's strong finish for the fifth straight quarter of improved performance relative to specific competitive set in its markets.

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Supplier News

September 26, 2003

IH&RA 40th Annual Congress: "Managing Through Rapidly Changing Times" Featured Keynote Speaker: Francesco Frangialli, Secretary General of the World Tourism Organization - 5-9 December 2003 in Cairo, Egypt

Paris, The International Hotel & Restaurant Association (IH&RA) will host its 40th Annual Congress in Cairo, Egypt, 5-9 December 2003 at the recently-opened, 5* Conrad Cairo Hotel. Scheduled as the Congress Keynote Speaker is Mr. Francesco Frangialli, Secretary General of the World Tourism Organization, who will address challenges and solutions for recovery in the global tourism industry. The 2003 Congress includes a three-day Conference program themed "Managing Through Rapidly Changing Times" with some 25 high-calibre industry analysts, consultants and practitioners discussing hot topics such as:

IH&RA

Supplier News

September 7, 2003

HFTP Announces Dates and Location for its 2004 Club and Hotel Controllers Conferences

AUSTIN, TEXAS — Hospitality Financial and Technology Professionals (HFTP®) will once again offer its popular Club and Hotel Controllers Conferences in 2004. The conferences provide professional development and networking opportunities for hospitality controllers, featuring education sessions led by industry experts. The conferences will be held in the western and eastern regions of North America, making it geographically convenient to attend. The first conference will be March 22-23 at the Embassy Suites Las Vegas in Las Vegas, Nev. The second will be held April 19-20 at the Seaport Hotel & World Trade Center Boston in Boston, Mass. You can visit the HFTP web site for a calendar of all HFTP events. If you have any questions, please contact [email protected], (800) 646-4387 or (512) 249-5333.

HFTP

Supplier News

July 6, 2003

AMADEUS to invest in Optims, Leading European hotels IT provider

Evry (France), Madrid (Spain), Amadeus, the leading global distribution system (GDS) and travel industry technology provider, today announced an agreement to invest in Optims, the leading European supplier of IT services to the hospitality industry.

Supplier News

May 12, 2003

Good results for Hapimag in 2002

Baar, Hapimag, Europe's leading provider of holiday resorts, has achieved pleasing result in a difficult commercial environment. Although turnover fell by 8.7%, after-tax profits rose to 1.1m SFR. Free cash flow reached 30.1m SFR, thereby underlining Hapimag's considerable self-financing power. To improve customer satisfaction, 2003 will see the introduction of a comprehensive four-point strategy.

Hapimag / Havag

Supplier News

May 4, 2003

MICROS Systems, Inc. Acquires Datavantage Corporation

COLUMBIA, Md., MICROS Systems, Inc. MCRS, a leading provider of information technology solutions for the hospitality industry, announced today the acquisition of Datavantage Corporation, a leading provider of information technology solutions for the specialty and general merchandise retail industry, for a combination of cash and stock in the amount of approximately $52 million. Headquartered in Cleveland, OH, Datavantage, with 2002 revenue of $42 million, will be operated as a wholly-owned subsidiary of MICROS Systems, Inc.

Oracle Hospitality

Supplier News

April 27, 2003

HPT Announces Termination of Wyndham Operations at 15 Hotels and Negotiations Regarding 12 Hotels

NEWTON, Mass.--Hospitality Properties Trust HPT today announced that it has terminated Wyndham International's WBR occupancy and operations of 15 Summerfield hotels and that it is negotiating with WBR and other parties concerning the operations of an additional 12 Wyndham hotels.

HPT

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World Panel

The End of "Pay at Hotel"?

By Mark Fancourt

Expert Views (7)

Pablo Torres

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.

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