Search - Hospitality Net

July 7, 2021

Touring NCREIF's Property Total Return Index

Hotel real estate investors need to measure both the absolute and relative financial performance of their properties. A 10% annual return may appear solid unless a collection of comparable investments earned 15%. Risk-adjusted returns measured against the appropriate index provide a way to assess managers’ abilities to generate excess returns. Measures of investment return come in many flavors.

By Jack Corgel, Managing Director, CBRE Hotels’ Americas Research, CBRE Hotels

United States

Development Renovation

July 6, 2021

Caesars Palace Unveils Plans For Multimillion-Dollar Main Entrance Renovation

Already one of the most iconic resorts in the world, Caesars Palace is not resting on its laurels. Instead, it embarks on a multimillion-dollar renovation of the original main entrance, main casino and porte-cochère to create an extravagant entryway, redesigned gaming areas and a new lobby bar. Construction is slated to begin in early July, with most of the project set to be complete by New Year's Eve.

Caesars Palace

Las Vegas, Nevada, United States

Development Reopening

July 6, 2021

Guests And Events Are Coming Back To The Hilton In Short Pump

As pandemic related restrictions lift and businesses start to reopen, the Hilton Richmond Hotel & Spa in Short Pump is ready to host guests for all of the traditional hospitality experiences they have missed - from overnight stays to weddings and business conferences.

Hilton

Richmond, Virginia, United States

Press Release Markets & Performance

July 6, 2021

Davidson Hospitality Group Selected To Manage The Alexander In Indianapolis

Davidson Hospitality Group, the industry-leading hospitality management company, has been selected by Buckingham Companies to manage The Alexander under Pivot, its lifestyle operating vertical. Situated in downtown Indianapolis as the centerpiece of the celebrated CityWay development and at the doorstep of the city’s professional sports venues and top entertainment sites, the 209-room LEED Silver hotel features 157 deluxe guest rooms and 52 extended-stay suites; two distinctive food and beverage outlets, including the Jorge Pardo-designed Plat 99 Coffee + Cocktails; and 16,500 square feet of flexible meeting and event space. Under new management, the hotel will undergo an exciting renovation and refresh.

Davidson

Indiana, United States

Opinion Article Operations & Strategy

July 6, 2021

Something To Knock It Out, Part 3 - The Life Of A Hotel Doctor

Her vacation had been a disaster so far, the guest explained. Worse, when she tried to buy amoxicillin to knock out her bronchitis, the pharmacist told her she needed a prescription. This was obviously a scam to line the pockets of American doctors, the guest added. She didn’t need my services except to provide the amoxicillin, so I should not take up her time.

By Mike Oppenheim, MD, Mike Oppenheim M.D. - The Hotel Doctor

United States

Appointment

July 6, 2021

Sue Randall has been appointed as Director of Product Management TNG at HRS Hospitality & Retail Systems

HRS Hospitality & Retail Systems are delighted to announce the appointment of Sue Randall to the position of Director of Product Management TNG.

HRS Hospitality & Retail Systems

Deerfield Beach, Florida, United States

Appointment

July 5, 2021

Cornelia Sühr has been appointed as Chef de Cuisine at Four Seasons Hotel Philadelphia

In preparation for the much-anticipated reopening of Jean-Georges Philadelphia, Four Seasons Hotel Philadelphia announces the appointment of Cornelia Sühr as Chef de Cuisine. With its mirrored glass atrium and sky-high views, Jean-Georges Philadelphia is a destination where elevated dining and awe-inspiring architecture intersect to create an unforgettable experience.

Four Seasons

Philadelphia, Pennsylvania, United States

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Tambourine

Ad #1 Hotel PMS

See why hotels are switching to Mews

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Mews

Opinion Article Operations & Strategy

July 5, 2021

Recent Urban Migrations And Hotel Markets

Long-run future economic activity and hotel business opportunity will materialize in outlying areas of major MSAs, medium and small cities, and tax and cost-of-living friendly states. Many urban centers and high tax states run counter to the trend.

By Jack Corgel, Managing Director, CBRE Hotels’ Americas Research, CBRE Hotels

United States

External Article Operations & Strategy

July 2, 2021

US Hoteliers Hopeful Despite Slowing Vaccination Rates

Top U.S. officials had openly professed hopes the upcoming Fourth of July weekend would mark a return to normal for the country, with a target of at least 70% of adults having received at least one dose of a COVID-19 vaccine by that point.

HotelNewsNow

United States

Opinion Article Technology

July 2, 2021

Controlling Telecommunication Costs

Although telecommunications costs account for a small percentage of expenses, data during 2015 through 2019 revealed a significant upward trend in telecom related expenditures. To achieve more efficient hotel operations and survive the changing landscape, hotel owners and operators are finding new ways to control telecommunications expenses.

By Robert Mandelbaum and Michael Kane

United States

Ad #1 Hotel PMS

See why hotels are switching to Mews

Revenue up. Manual work down. Hotels using Mews see 35% higher RevPAR and 45% more upsells. Book a free demo.

Mews

Press Release Markets & Performance

July 2, 2021

Larger Hotels Continue To Weigh Down US Hotel Recovery

Any hotelier will agree the hotel industry is a street-corner business, and the pace of the U.S. hotel industry’s recovery from the COVID-19 pandemic has similarly followed that adage.

CoStar

United States

Press Release Markets & Performance

July 2, 2021

Report: 21 Of Top 25 U.S. Hotel Markets In Depression Or Recession

Despite an uptick in leisure travel, a new report released by the American Hotel & Lodging Association (AHLA) shows that the road to recovery for the hotel industry is long with 21 of the top 25 U.S. hotel markets remaining in a depression or recession. The new data shows urban hotels are still in a “depression” cycle while the overall U.S. hotel industry remains in a “recession.” Urban markets, which rely heavily on business from events and group meetings, continue to face a severe financial crisis as they have been disproportionately impacted by the pandemic. Urban hotels were down 52% in room revenue in May compared to May 2019. For example, New York City, which remains in a depression, has seen one-third of its hotel rooms (42,030 rooms) wiped out by the COVID-19 pandemic, with nearly 200 hotels closing in the city.

AH&LA

United States

Appointment

July 2, 2021

Ana Isaza has been appointed as Director of Sales and Marketing at Hilton Miami Dadeland

Hilton Miami Dadeland, an Aimbridge Hospitality managed property, is proud to welcome the newest addition to their seasoned team, Ana Isaza as Director of Sales and Marketing.

Aimbridge Hospitality

Miami, Florida, United States

Appointment

July 2, 2021

Anthony Duggan has been appointed as Area Vice President and General Manager at Ventana Big Sur

Ventana Big Sur is pleased to announce the appointment of Anthony Duggan as area vice president and general manager. Duggan brings an impressive resume of roles with some of the most beloved and respected luxury hospitality brands in the country, from AMAN to L'Auberge, to Ventana Big Sur.

Alila

Big Sur, California, United States

Development Pipeline

July 2, 2021

Pendry Hotels & Resorts Partners With NuovoRE for Pendry Cincinnati

Pendry Hotels & Resorts in partnership with NuovoRE, today announced plans for Pendry Cincinnati, located within the historic Gwynne Building, at the intersection of Main Street and East 6th Street in downtown Cincinnati. The historic office building that for decades housed Procter & Gamble Company's global headquarters was awarded a $5 million historic tax credit by the Ohio Services Development Agency. This is a large step forward in the rehabilitation of the property and will preserve the unique history of the building while also providing an array of new offerings and opportunities for the Cincinnati community. Upon completion, the renovation and refurbishment of the 1913 Beaux-Arts building will be transformed into Pendry Cincinnati when it emerges in 2023.

Pendry Hotels

Cincinnati, Ohio, United States

Development Reopening

July 2, 2021

The Gabriel Miami, Curio Collection By Hilton™, Reopens In Downtown Miami

The Gabriel Miami, Curio Collection by Hilton, announced the reopening of its 129-key lifestyle high-rise property in the heart of Downtown Miami, offering guests an immersive guide to the Magic City through art, culture, fashion, eclectic gastronomy and exploration — everything that makes Miami a world-class destination.

Curio – A Collection by Hilton

Miami, Florida, United States

Press Release Markets & Performance

July 2, 2021

U.S. hotel profit improved to 70% of 2019 level, labor flat

Gross operating profit for U.S. hotels reached 70% of the comparable 2019 level, according to STR‘s May 2021 monthly P&L data release. While demand, revenues and GOP continue to uptick, labor spending remained flat from the previous month at 64%.

CoStar

United States

Development Opening

July 2, 2021

Bishop’s Lodge, Auberge Resorts Collections Opens On 317 Pristine Acres In Santa Fe

Bordering on 1.5 million acres of Santa Fe National Forest, Bishop's Lodge, Auberge Resorts Collection opens its doors and begins welcoming guests today, just minutes from the city's historic plaza. Dating back to the 1860s, when Santa Fe's first archbishop built a chapel and lodge on the property, the resort pays homage to the past, while celebrating Santa Fe's vibrant cultural, art and culinary scenes and the spirit of adventure that epitomizes the Rocky Mountains. The first luxury offering of its kind in Santa Fe, Bishop's Lodge provides state-of-the-art accommodations, a destination restaurant conceived by Chef Dean Fearing, an array of outdoor adventures and transformative wellness experiences set against one of the most starkly beautiful backdrops in the Southwest.

Auberge Collection

Santa Fe, New Mexico, United States

Development Groundbreaking

July 1, 2021

The Bolivar Beach Club & RV Resort Breaks Ground On 150-Acre Beachfront Development

Local developer breaks ground on the highly anticipated Bolivar Beach Club & RV Resort, located on the Upper Texas Coast in Crystal Beach. The brand-new 150-acre beachfront RV resort is now accepting reservations. The Bolivar Beach Club & RV Resort remains on target to complete phase one of the master resort plan and open its doors in November 2021.

Bolivar Beach Club & RV Resort

Crystal Beach, Texas, United States

Press Release Markets & Performance

July 1, 2021

STR: U.S. Hotel Results For Week Ending 26 June

U.S. weekly hotel occupancy hit its highest level since late October 2019, according to STR‘s latest data through 26 June.

CoStar

United States