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May 14, 2013

Revel AC Announces Confirmation of Plan of Reorganization

Revel AC Inc. announced today that the U.S. Bankruptcy Court for the District of New Jersey (Camden) has confirmed Revel's prepackaged plan of reorganization (the "Plan") under Chapter 11 of the Bankruptcy Code. The Plan was unanimously accepted by creditors voting on the plan in connection with the Company's voluntary pre-packaged solicitation of votes. Revel expects to emerge from Chapter 11 before the end of May after the conditions to effectiveness of the plan are satisfied.

Atlantic City, New Jersey, United States

External Article

April 30, 2013

Hotel giant Blackstone plots a future for Hilton — with billions in backup | skift.com

In 2009, when Blackstone relocated Hilton Worldwide’s headquarters from Beverly Hills to McLean, Virginia, on the outskirts of Washington, D.C., it was much more than a change of scenery and address. Acquired by Blackstone for nearly $27 billion a couple of years earlier, Hilton had been languishing, falling behind better-positioned chains such as Marriott and InterContinental, and was in dire need of a dramatic change in management culture from a laid-back California style to a more professional and analytic approach.

April 5, 2013

Pebblebrook Hotel Trust and Denihan Hospitality Group Complete $50.0 Million, 3.14 Percent, Secured Debt Financing

Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) today announced that the joint venture between Pebblebrook Hotel Trust and Denihan Hospitality Group, which owns six upper upscale hotels (the “Manhattan Collection”) in New York, New York, has successfully executed a new $50.0 million non-recourse, secured loan with PNC Bank, N.A. at a fixed annual interest rate of 3.14 percent. The interest-only loan has a term of five years and is secured by a first mortgage on the upper upscale, 242-room Affinia Dumont. Proceeds from the loan will be used for general business purposes.

Pebblebrook Hotel Trust

April 2, 2013

Morgans Hotel Group Enters Transformative Deal With Yucaipa Companies To Reduce Debt And Preferred Stock By $230 Million

Morgans Hotel Group Co. (NASDAQ: MHGC) ("Morgans" or the "Company"), theNew York-based hospitality management company, today announced that it has signed agreements with The Yucaipa Companies ("Yucaipa") to cancelYucaipa's interests in the Company's convertible notes, preferred stock and stock warrants in exchange for the Company's ownership interests in Delano South Beach and The Light Group. This marks the culmination of a 15-month exploration process by a Special Committee of the Board to review strategic alternatives.

Morgans Hotel Group

New York, New York, United States

February 14, 2013

AH&LEF Releases 2012 Lodging Tax Study

The 2012 Lodging Tax Study, commissioned to provide current information on state lodging tax structures, total lodging tax collections, and lodging taxes in the largest cities, has been released by the American Hotel & Lodging Educational Foundation (AH&LEF). The study was funded by AH&LEF and conducted by STR Analytics and RRC Associates with assistance from the International Society of Hotel Association Executives (ISHAE) Lodging Tax Taskforce.

January 25, 2013

Value Place Secures $100mm Private Equity Investment

WICHITA, Kan. (January 22, 2013) – Value Place, the nation's leading Short-Term Residential Property franchisor, developer, operator and owner, announced today that it has secured a $100 million capital investment from Lindsay Goldberg LLC, aprivate equity firm with $10 billion of total capital under management.

December 11, 2012

HVS Publishes First U.S. Lodging Tax Study

HVS Convention, Sports, & Entertainment Facilities Consulting (HVS CSE) is pleased to announce the release of it's first U.S. lodging tax study which explores the current status and historical trends in the imposition of lodging taxes in the United States.The HVS U.S. Lodging Tax Study identifies the lodging tax rates levied at the state, county, city, and special district levels, and the collection and distribution of revenue from lodging taxes in all 50 states and in the 100 largest cities in the United States.HVS used comprehensive annual financial reports, annual adopted budgets, revenue reports, media sources, and interviews with government finance officials to determine the tax rates and amounts of lodging tax collections at the state, county, city, and special district level. This data collection effort allowed HVS to rank the 100 largest cities in the United States according to their lodging tax rates in their urban center.

The next-gen metrics that move hotel P&L

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Hospitality Financial and Technology Professionals (HFTP)

October 16, 2012

Baird/STR Hotel Stock Index rises 3.3% in September

The Baird/STR Hotel Stock Index reported a 3.3-percent increase in September to 2,475 and is up 22.2 percent year-to-date 2012. The index ended 2011 at 2,025. Robert W. Baird & Company and STR partnered to create the Baird/STR Hotel Stock Index—the first widely available U.S. hotel stock index in the hotel industry. The index combines Baird's financial markets expertise, the data processing of STR and the up-to-the-minute distribution capabilities of HotelNewsNow.com, the industry's leading hotel news website.

October 2, 2012

Accor: Motel 6 disposal completed

Accor today announces the completion of the sale of its Motel 6 / Studio 6 hotels in North America to an affiliate of Blackstone Real Estate Partners VII, for an amount of US 1.9 billion dollars. This transaction allows Accor to reduce its adjusted net debt by c. €780m. Following the divestment, Accor operates 17 Sofitel and Novotel hotels in North America, of which 9 in the United States and 8 in Canada.

October 1, 2012

The 2012 HVS Regional Hotel Summit Series: A Review

Between February and July of 2012, ten HVS consulting and valuation offices hosted a series of hotel valuation summits in U.S. hotel markets from coast to coast. Panels of hospitality experts from HVS and other hotel brokerages, firms, and companies spoke to regional hoteliers on topics ranging from hotel lending parameters to performance trends and value projections for U.S. hotels. The following summarizes what came to light about the mindsets and ambitions of hotel owners, lenders, buyers, and sellers in 2012.

September 24, 2012

Prism Hotels & Resorts To Host Hotel Default Servicing Conference

Prism Hotels & Resorts, one of the fastest growing hotel management companies in the country, will host its 12th annual "Fishing for Solutions" conference on Oct. 10 and 11, 2012 at the Embassy Suites Outdoor World in Grapevine, Texas. Focused solely on servicing hotel loan defaults, this event is the only conference in the country that brings together hotel industry leaders and hotel lending experts to share best practices. Steve Van, president and CEO of Prism Hotels & Resorts, made the announcement.

Grapevine, Texas, United States

Visit HITEC 2026 in San Antonio!

HITEC is the center for the latest conversations on hospitality technology. Come and see the technology shaping the industry.

Hospitality Financial and Technology Professionals (HFTP)

September 17, 2012

Baird/STR Hotel Stock Index rises 2.9% in August

The Baird/STR Hotel Stock Index reported a 2.9-percent increase in August to 2,397 and is up 18.4 percent year-to-date 2012. The index ended 2011 at 2,025. Robert W. Baird & Company and STR partnered to create the Baird/STR Hotel Stock Index-the first widely available U.S. hotel stock index in the hotel industry. The index combines Baird's financial markets expertise, the data processing of STR and the up-to-the-minute distribution capabilities of HotelNewsNow.com, the industry's leading hotel news website.

Opinion Article

September 17, 2012

U.S. Hotel Managers Nailed Their Budgets In 2011

In the fall of 2010 when U.S. hotel managers were preparing their budgets for 2011, most industry participants were pleasantly surprised at the strong pace of the recovery in lodging demand. By year-end 2010, the occupancy level for U.S. hotels increased by 5.4 percent. While hopeful that their good fortune would continue into 2011, managers were somewhat skeptical given the continued sluggishness of the economy.

By Robert Mandelbaum, Director of Research Information Services, CBRE Hotels

Opinion Article

August 20, 2012

California Hotel Defaults Decrease

When the US economy began the recent downturn and the bottom dropped of the hotel market, some experts forecasted that things were so bad in the lodging business that in the coming three years there would be twenty-five hundred foreclosures of lodging properties in California. Of course, everyone panicked. In the past three years this projected disaster has not been nearly as bad as some predicted.

By Howard Mathews

California, United States

April 27, 2012

STR Analytics’ Tour De Data Examines DC Hotel Market

Tour de Data, hosted by STR Analytics and the STR family of companies, is making its next stop in Washington, D.C., to reveal in-depth statistics on the market. Tour de Data events give attendees a look at the latest hotel industry trends and data as well as innovative ways to use it.

March 16, 2012

Brown Nester Hospitality Services Starts Year with Multiple Sales

Westlake Village, CA - (March 16, 2012) – The improving real estate market and greater access to available financing have proven to be beneficial to hotel buyers and sellers throughout California. Within the last few months, Brown Nester Hospitality Services, the most trusted name in hotel brokerage, has closed on properties located in Anaheim and Brentwood.

February 17, 2012

HVS Kicks Off Free Regional Hospitality Valuation Summits, March 8th in Denver

Rod Clough, MAI will deliver an up-to-the-moment snapshot and forecast of hotel values, transactions, cap rates, RevPAR, and multipliers that bear directly on hoteliers' assets in the Denver metropolitan area and for the U.S. as a whole. A panel discussion will follow, focusing on lending and valuation parameters for hotels and featuring experienced hotel owners, analysts, and insiders active in the Rocky Mountain region.

February 15, 2012

Jones Lang LaSalle Hotels report predicts that $30 billion in CMBS hotel loans maturing in 2012 may be extended, creating an opportunity-rich investment environment

The state of the commercial mortgage-backed securities (CMBS) market is one of the biggest wild cards affecting the pace of U.S. hotel investment in 2012, according to Hotel Investment Outlook 2012, a research report from Jones Lang LaSalle Hotels.

February 14, 2012

Baird/STR Hotel Stock Index up in January

The Baird/STR Hotel Stock Index ended January with a 13.0-percent increase to 2,288. The index ended 2011 at 2,025. Robert W. Baird & Company and STR partnered to create the Baird/STR Hotel Stock Index-the first widely available U.S. hotel stock index in the hotel industry. The index combines Baird's financial markets expertise, the data processing of STR and the up-to-the-minute distribution capabilities of HotelNewsNow.com, the industry's leading news website.

January 20, 2012

Inaugural Hotel Industry Conference to Explore Financing/Lending Opportunities in Rebounding Market

Anticipating a tsunami of hotel refinancing, development and refurbishment projects as the hotel industry continues to recover, industry leaders today announced plans to host the inaugural Hotel Equity & Lender Perspectives (HELP) conference, a two-day hotel investment event scheduled for May 2 – 3 at the Westin Waterfront Hotel in Boston.

helpconference.com