Global hospitality and entertainment company Delaware North today announced its continued expansion in the parks and lodging sector through the acquisition of the Best Western Premier Grand Canyon Squire Inn.
Consistently on the cutting edge of the lodging industry and now recognizing the growing need for affordable living options throughout the country and beyond, this leading Chicago-based hotel investment and management company announces brand new multifamily venture.
LRE & Companies, a full spectrum real estate development, asset manager, construction, and hotel management company, has unveiled plans for Fernley Promenade, a 13-acre mixed-used development project comprising of industrial, retail, and hotel, in Fernley, NV, one of the fastest-growing cities in The Silver State.
Officials of Everwood Hospitality Partners (EHP), a leading hotel owner/operator with a growing portfolio of lifestyle, full- and select-service hotels nationwide, today announced the company has acquired the 184-room LaQuinta I Drive/Convention Center hotel in Orlando, Fla. from Cavalier Florida, LP.
The St. Joe Company (NYSE: JOE) (“St. Joe”) announces that it recently closed on three strategic real estate transactions and provides an update on projects that are scheduled to open in 2023.
The Plasencia Group, a boutique hospitality real estate advisory firm, received the Tampa Bay Business Journal’s Top Hospitality Project award at its annual Best Real Estate Deals event on December 15 at Armature Works in Tampa.
Procaccianti Companies, one of the nation's premier real estate investment and services firms, today announced the hiring of Brendan McCormick, to lead Procaccianti’s private credit platform, Smith Hill Capital, LLC (“Smith Hill”).
The hospitality industry continues to rebound from the decline in travel during the COVID-19 pandemic. Yet, one lingering impact looms. With maintenance and renovation projects mostly deferred over the last two-and-a-half years, guest satisfaction is taking a hit from outdated and inconsistent hotel conditions. The latest J.D. Power North America Hotel Guest Satisfaction Index shows that overall guest satisfaction is down 8 points on a 1,000-point scale, driven in part by dissatisfaction with guest rooms.
Atlanta-based Hospitality Lodging Systems (HLS) has added two Budgetel Inn & Suites brand properties and two Haven Hotel brand properties to its portfolio. There are now 37 Budgetel hotels with 3,813 rooms operating in 10 states plus China and 12 Haven properties with 698 rooms in nine states.
The International Society of Hospitality Consultants (ISHC) has named Kendra Plummer as the recipient of the annual Lori Raleigh Award for Emerging Excellence in Hospitality Consulting. Plummer was honored at the ISHC annual conference held in Prague, Chez Republic. As winner, Plummer received a one-year associate membership to the ISHC to further professional relationships and experience all that the Society has to offer through planned events and interacting with top hospitality industry consultants from around the globe.
Flynn Properties Inc., owner of commercial real estate, luxury resorts and select service hotel properties in America and abroad, in a joint venture with Värde Partners, a leading global alternative investment firm, today announced that it has acquired an 80% joint venture interest in 89 select service and extended stay hotels in a $1.1 billion implied total enterprise value transaction from affiliates of Highgate and Cerberus Capital Management, L.P. (“Cerberus”).
"Refresh, Remodel & Rebrand: Plan, Execute & Finance Hotel Renovations" was moderated by head of hotel analytics and data research, Rachel Rothman, and was facilitated by prominent industry leaders Steve Schrope, Ethan Gabany and Olga Lepow. Opening with a detailed accounting of the current hospitality landscape, the presentation takes a deep dive into the hotel business, not shying away from tough questions during an in-depth Q&A session.
During the third quarter, Choice Hotels International, Inc. (NYSE: CHH) signed an agreement with Noble Investment Group (Noble) to develop nine WoodSpring Suites hotels in Georgia and South Carolina over the next two years, signaling increased institutional interest in the largest economy extended-stay brand in the market.
As Lodging Econometrics (LE) prepares to attend the 2022 Boutique Design New York (BDNY) conference in New York City, LE releases the latest on hotel development for the New York City market. LE also has available hotel development information on any market in the United States or any other market in the world.
Officials of the California Lodging Investment Conference [CLIC], the only hospitality conference focused on the California hotel market, today opened the nomination process for the 2023 Hotel Development Deal of the Year award. The winner will be announced during the upcoming, sixth annual gathering which will take place March 1-2, 2023, at the Westin South Coast Plaza in Costa Mesa, Calif.
According to the recent Hotel Construction Pipeline Report for Canada by Lodging Econometrics (LE), LE analysts report that in the third quarter of 2022 the total construction pipeline in Canada stands at 263 projects/34,825 rooms, up 2% by projects and rooms year-over-year (YOY).
Johnny Morris presented plans for the oceanfront Valhalla Island Resort development before an audience that included Florida Gov. Ron DeSantis and key leaders of the Florida Keys recreational fishing and conservation communities. Valhalla Island is the largest resort property anywhere in the Florida Keys. It includes more than 175 acres and more than a mile of breathtaking beachfront property, located just 15 minutes from the Marathon International Airport, a two-hour drive from Miami and just over an hour from Key West. Plans for the resort involve maintaining over 50% of the property’s green space.
According to the quarterly United States Construction Pipeline Trend Report from Lodging Econometrics (LE), the franchise companies with the largest construction pipelines at the end of Q3 2022 are led by Marriott International with 1,385 projects/168,725 rooms. Following Marriott is Hilton Worldwide with 1,351 projects/152,383 rooms, and InterContinental Hotels Group (IHG) with 787 projects/79,382 rooms. Combined, these three companies account for 66% of the projects and 64% of the rooms in the total pipeline. Each company has seen growth year-over-year.
According to the third quarter United States Construction Pipeline Trend Report from Lodging Econometrics (LE), the U.S. market with the largest hotel construction pipeline by projects is Dallas with a record high count of 174 projects, accounting for 20,676 rooms. Following Dallas is Atlanta with 139 projects/17,843 rooms, Los Angeles with 118 projects/19,062 rooms, Phoenix with 113 projects/15,508 rooms, and New York with 102 projects/17,805 rooms.
According to the third quarter Construction Pipeline Trend Report for the United States from Lodging Econometrics (LE), the U.S. construction pipeline stands at 5,317 projects/629,489 rooms, up 10% by projects and 6% rooms Year-Over-Year (YOY).At the close of Q3, there are 987 projects/135,050 rooms under construction in the U.S. Projects scheduled to start construction in the next 12 months, stand at 2,074 projects/236,894 rooms, up 14% by projects and 13% by rooms YOY, respectively.