Eric A. Danziger, president and CEO of Wyndham Hotel Group, has been honored at the Annual UJA-Federation of New York's Hotel and Hospitality Division Cocktail Reception for his commitment to philanthropy.
Harvesting crops in Manhattan is tough. So Element New York Times Square West is doing the next best thing. Giving guests and neighbors easy access to fresh, seasonal produce and artisanal farm products, the earth-friendly hotel will launch a pioneering partnership with Holton Farms, an eighth-generation Vermont-based farm and Community Sponsored Agriculture (CSA) program.
Israel-based luxury hotel brand Dan Hotels announced this month that it has appointed Eitan Sasson as its new Director of Marketing and Sales, North America.
War II. The following graph provides the dynamics between supply and demand in Manhattan from January 1989 to March 2011. The graph illustrates percent changes in supply and demand (12-month moving average). Periods of recession are indicated in yellow.
The Westin New York at Times Square is pleased to announce the promotion of Jim Mooney to director of sales and marketing. No stranger to the 863-room hotel, Mooney has spent the past two-and-a-half years as director of sales. Mooney, who has spent most of his career in the Big Apple, joined The Westin New York at Times Square in 2008, and was previously the director of sales at the Millennium Broadway Hotel. Prior to that, he held various positions within the Starwood Hotels & Resorts, the management company for The Westin New York at Times Square, in New York City and Baltimore for nearly 15 years.
Not so keen on schlepping your suitcases through the streets of New York City after checking out of your hotel? Hand them over to Yobot, the luggage-handling robot. The 15-foot bot will await visitors in the lobby of Yotel, which opens June 1 in Times Square and calls itself the "iPod of the hotel industry" for such sleek techno flourishes as touch-screen check-in, flat-panel TVs, purple mood lighting--and, of course, Yobot.
Brack Capital Real Estate (BCRE), in a joint venture with IHG (InterContinental Hotels Group), has completed the acquisition of 180 Orchard Street on the Lower East Side of Manhattan for approximately $46 million in an all-equity transaction. BCRE will own 51 percent of the shares in the joint venture while IHG will own the remaining 49 percent. IHG's investment in the project will be up to $30 million. The team plans to develop a multi-use property to include a 290-room Hotel Indigo with retail component and parking.
With years-dormant project sites reactivating across the neighborhood, it’s safe to say that hotels are back on the Lower East Side agenda. Just last week, it was reported that the stalled Orchard Hell Building was acquired by Brack Capital, who planned to convert the decrepit concrete eyesore into a Hotel Indigo. But the real estate investment firm has another ace up their collective sleeve, and as a result, the lower Bowery is definitely in Dutch. Big-time.
Grab some continental breakfast and wake the Germans in the next bunk: the Mayor's Office of Special Enforcement has begun cracking down on a law that went into effect on May 1 that bars apartment rentals for less than 30 days and prevents building owners from renting a single unit for temporary use.
DiamondRock Hospitality Company (the "Company") (NYSE: DRH) today announced that it has entered into a purchase and sale agreement to acquire the 712-room Radisson Lexington Hotel New York (the "Hotel") for a contractual purchase price of $335 million. The contractual purchase price represents a 13.5 times multiple of 2012 forecasted EBITDA of $24.8 million and a 6.7% capitalization rate on forecasted 2012 net operating income. During the Company's anticipated 2011 period of ownership, the Hotel is expected to earn approximately $15.8 million in EBITDA.
Tim Miller has been named Senior Vice President and Managing Director for EDITION Hotels, the company's luxury lifestyle hotel brand. Mr. Miller will set EDITION's brand strategy, oversee operations and work with Marriott's Development team to expand the brand, which currently has hotels in Waikiki Beach, Hawaii, and Istanbul. Another five projects are in advanced stages of development in major gateway cities worldwide, including London and South Beach in Miami, Florida. Mr. Miller has a vast amount of strategic brand experience, having consulted for lifestyle and entertainment brands, including EDITION, Balducci's and Carnival Cruises. Previously, as Chief Executive Officer of Crunch, Mr. Miller reinvented a collection of fitness facilities throughout the U.S. Additionally, he was Chief Branding Officer and a general manager for the Morgans Hotel Group, as well as President of Alden Hotels.
New York City Mayor Michael Bloomberg is announcing the results of a crackdown on illegal hotels. Bloomberg said Sunday that the city has taken action against 15 illegally converted hotels since May 1, when a new state law targeting illegal hotels went into effect. He said vacate orders were issued at eight of the locations.
Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced that it is bringing top customers and hotels from around the world together at the kick-off of its Global Rendezvous meeting in New York City, which runs from today through May 11th. The Sheraton New York Hotel & Towers is hosting the event where Starwood's senior leadership team will discuss leisure and business travel trends as the industry rebounds and the future direction of Starwood's high-caliber brands, all of which are now represented in New York City following the recent conversion of The Chatwal New York to The Luxury Collection.
Red Lion Hotels Corporation (NYSE: RLH) announced today that it has entered into a definitive agreement to sell the Red Lion Hotel on Fifth Avenue in Seattle, WA to an affiliate of Lowe Enterprises ("Lowe"), a leading national real estate investment, development and management firm. Lowe is also entering into a franchise agreement with Red Lion Hotels Franchising, Inc. and the hotel will continue to be operated as a Red Lion hotel, managed by Lowe's hospitality management subsidiary, Destination Hotels & Resorts.
Starwood Hotels & Resorts Worldwide Inc. (NYSE: HOT) has signed a license agreement with The Chatwal New York, an acclaimed 83-room property in Manhattan's Theater District, marking The Luxury Collection brand's debut in New York. The addition of The Chatwal New York also represents another milestone for Starwood with New York City becoming the first and only city in the world to boast all nine of its distinctive and iconic brands: Sheraton, Westin, Le Meridien, W, St. Regis, The Luxury Collection, Four Points by Sheraton, Element and Aloft.
The International Hotel, Motel + Restaurant Show® (IHMRS) invites hospitality designers from around the world to submit entries for the 31st annual Gold Key Awards for Excellence in Hospitality Design, the premier interior design competition for the industry. The coveted Awards are presented in eight categories – Best Hotel Design, Guest Room, Lobby/Reception Area, Lounge/Bar, Restaurants/Casual Dining, Restaurants/Fine Dining, Spa and Suite. Entries must be submitted by July 1, 2011.
Paula was previously the Regional Director of Sales in Hawaii for Starwood Hotels & Resorts and is a seasoned veteran in the luxury hospitality business, bringing a wealth of experience and industry expertise to the hotel. In her former position as Regional Director of Sales in Hawaii, Paula was responsible for overseeing all Starwood properties in the region, which includes eleven properties among The St. Regis, Luxury Collection, Westin, Starwood Vacation Ownership and Sheraton brands. She was charged with maximizing the revenue for each property in addition to managing marketing, sales training, public relations and promotional activities for the region.
ACTE has united travel professionals around the world for more than 20 years as a member-driven "global village," providing research and education to the travel industry's leading buyers and sellers. ACTE is recognized globally as an agent of positive change, development, and a driver of education across all segments of business travel.
FelCor Lodging Trust Incorporated (NYSE: FCH) announces it has entered into a binding purchase and sale agreement to acquire the fee-simple interests in two midtown Manhattan hotels, The Royalton and Morgans, for $140.0 million from Morgans Hotel Group Co. ("MHGC"). MHGC will continue to manage the properties, which have a total of 282 guest rooms, under a long-term management agreement. FelCor expects to complete the purchase of these two iconic hotels, funded with cash on hand, in the second quarter.
MHGC will continue to operate the hotels under a 15-year management agreement with one 10-year extension option. The transaction is expected to close in the second quarter and is subject to satisfaction of customary closing conditions.