Most management contracts include an incentive management fee in addition to the base management fee. The incentive fees are designed to make management more conscious of the bottom line since owners achieve their returns and pay their debts from profits, not revenue. Incentive management fees are earned by the operator once a designated profit threshold is achieved.
U.S. hotel total revenue per available room (TRevPAR) was the highest for any month on record, according to STR‘s March 2023 P&L data release.
Che' McKissic, corporate beverage director of Donohoe Hospitality Services (DHS), a division of Donohoe, today named Angela Bethea executive chef at RowHouse restaurant and Perch SW, the rooftop bar & lounge that sits atop the Cambria Hotel Washington, D.C. Capitol Riverfront. In her new role, Bethea will oversee, implement and regularly update the food & beverage program for the select-service hotel located within walking distance of Nationals Park, home of the Washington, D.C. Major League Baseball team.
Stayntouch, a global leader in cloud hotel property management systems (PMS) and guest-centric technologies, has partnered with Owner Relations, a leading provider of accounting solutions for fractional and whole-ownership condominium hotels, to deliver a seamless integration to the Stoweflake Mountain Resort & Spa, a premier Vermont luxury resort that leverages a fractional ownership structure.
After a period when consumers were prioritizing spending on travel and experiences regardless of the expense, hotels in some markets are now beginning to see that trend slow down as inflation persists.
The BLLA Team sits down with Chris Cline, General Manager of The Hotel Santa Barbara, as he delves into his experience as a boutique hotelier.
The Global Business Travel Association (GBTA), the voice of the global business travel industry, supports the decision and recent announcement by the Biden Administration to no longer require non-U.S. travelers entering the United States via air, land and seaports of entry to be fully vaccinated against COVID-19 and provide related proof of vaccination upon request.
Virgin Hotels New York City, the newest addition to the luxury-lifestyle hotel brand by Sir Richard Branson, is pleased to announce that Aisling Kennedy has been named Director of Finance. She will oversee financial strategy for the new 460-room hotel in Manhattan's NoMad neighborhood. Kennedy joins the executive leadership team as the hotel opens its doors to visitors from around the globe as well as local New Yorkers.
Marriott Marquis Houston announced Juan Calderon has been named the new Hotel Manager. In his role, he will serve as the strategic business leader of property operations at the 1,000-room urban resort and be responsible for areas including front office, recreation/fitness center, housekeeping, security loss/prevention, engineering/maintenance, food and beverage, and event management. He will work with other members of Marriott Marquis Houston's Executive Committee and department heads to develop and implement property-wide strategies, ensuring customer needs are met, employees are satisfied, and financial performance is on target.
hihotels by Hospitality International, a recognized leader in franchising of conversion and new build hotels for economy lodging, is pleased to announce a partnership with Hopper, the world’s fastest-growing travel app.
In Spring 2025, The Elsby Hotel will debut as a full-service, 82-room boutique hotel in the heart of New Albany, IN. Located at 117 East Spring Street in New Albany's Downtown Historic District, the hotel is an adaptive reuse of the Elsby Building, a 100-plus year-old building that previously housed office space. It was purchased in June 2021 by co-owners Steve Resch, of Resch Property Group and Resch Construction, and Chad Sprigler, of The Sprigler Company, both based in New Albany. With a total development budget of $29 million, renovation and new construction will begin in late Spring 2023. Jacob Resch, property and project manager, estimates the creation of up to 100 new jobs.
In the recently released United States Construction Pipeline Trend Report from Lodging Econometrics (LE), analysts detailed the leading franchise companies and their brands in the construction pipeline at the close of the first quarter. Marriott International (Marriott) tops the charts with the greatest number of projects in the U.S. hotel construction pipeline, at Q1 2023, with 1,499 projects/181,377 rooms, followed closely by Hilton Worldwide (Hilton), with a record-high count of 1,436 projects/161,359 rooms, and then InterContinental Hotels Group (IHG) with 809 projects/80,679 rooms. Combined, these three franchise companies comprise 68% of the projects in the total U.S. pipeline.Marriott also has the most projects and room counts in each stage of the pipeline at Q1, with 279 projects/38,156 rooms currently under construction, 763 projects/90,038 rooms scheduled to start construction in the next 12 months, and 457 projects/53,183 rooms in early planning.The leading brands by project count for the three companies with the largest pipelines in the U.S. at Q1 are Home2 Suites by Hilton with all-time highs by projects and rooms of 546 projects/56,001 rooms, Marriott’s TownePlace Suites, also reaching all-time highs by projects and rooms at Q1, with 333 projects/31,068 rooms, and IHG’s Holiday Inn Express brand with 301 projects/28,371 rooms. These three brands collectively represent 21% of the projects in the total U.S. hotel construction pipeline at the close of Q1 2023.LE recorded record-high conversion pipeline totals of 1,079 projects/110,084 rooms for the U.S. in the first quarter of 2023. Of these conversion totals, Hilton had the most conversion projects and room totals ever recorded by LE with 105 projects/14,456 rooms, similarly, Marriott had a record 100 conversion projects, accounting for 13,465 rooms, and IHG had 52 conversion projects/6,2543 rooms. These three franchise companies account for 31% of all the rooms in the conversion pipeline across the country.The franchise companies with the greatest number of new project announcements in the first quarter were: Hilton with 110 projects/11,790 rooms, Marriott with 61 projects/6,730 rooms, and IHG with 33 projects/3,103 rooms. These companies represent 60% of all new projects announced in the U.S. in Q1 2023.In Q1 2023, Marriott opened 33 new hotels with 3,711 rooms. Hilton opened 24 new hotels with 2,781 rooms, and IHG opened 6 new hotels with 629 rooms. The LE forecast for new hotel openings in 2023 anticipates that Marriott will open a total of 152 new hotel projects/19,064 rooms by year-end, Hilton is forecasted to open 141 new hotel projects/16,980 rooms in 2023, and IHG is expected to open 88 new hotel projects/9,975 rooms. These three franchise companies collectively account for 64% and 65%, respectively, of new hotel projects and rooms forecast to open in 2023.
The top hotel markets in this STR U.S. bubble chart update show a seasonal momentum shift from traditional winter/spring break hotspots to a broader range of destinations with increasingly travel-friendly climates.
Magnuson Hotels has announced the renewal of affiliation with Magnuson Hotel Virginia Beach, its midscale franchised hotel that first joined the group thirteen years ago in 2010.
The Hilton Garden Inn Fort Collins is welcoming guests into a beautifully refreshed and updated hotel. The renovation includes all 120 guest rooms and suites, the hotel's 2,800 square feet of meeting space, and all public areas. The Hilton Garden Inn Fort Collins, which is nestled in the heart of the Northern Colorado corridor, is managed by Crestline Hotels & Resorts, LLC.
The St. Joe Company (NYSE: JOE) ("St. Joe"), joint venture partner Key International, Inc. ("Key International") and Hilton (NYSE: HLT) announce the opening of the 255-suite Embassy Suites by Hilton Panama City Beach Resort. The resort is located in the popular Pier Park shopping and entertainment district with unobstructed views of the Gulf of Mexico available from each of its five floors.
Vision Hospitality Group Inc. held a groundbreaking ceremony today commencing construction on the seven-story 184-suite Embassy Suites by Hilton Chattanooga Downtown. Ideally located on the corner of Broad Street and 4th Street in the heart of Downtown Chattanooga, the Embassy Suites Chattanooga Downtown will feature a rooftop bar, a street-level bar and coffee area in an open lobby style, a leasable restaurant space, and 5,000 total square feet of meeting space. Centrally located in the heart of the city, the property is blocks from the Tennessee Aquarium, Hunter Museum of American Art, National Medal of Honor Heritage Museum and Tennessee Riverpark festivals and events.
Graduate Hotels® announced today the appointment of Michaella Solar-March as Chief Marketing Officer. Based in the brand's Nashville headquarters, she will drive global marketing strategy for Graduate Hotels' more than 33 hotels across the U.S. and U.K. Solar-March brings nearly two decades of diversified experience leading integrated marketing efforts for leading companies in the lifestyle, hospitality, and real estate industries, including Rockefeller Center, Tishman Speyer, Soho House & Co., and Sonos.
U.S. Travel Association President and CEO Geoff Freeman issued the following statement on the repeal of the Centers for Disease Control and Prevention’s Covid vaccine requirement for inbound travel to the U.S.
On April 28, Tennessee Governor Bill Lee signed a bill into law - the Protecting Tennessee Businesses and Workers Act.