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Opinion Article

October 19, 2010

Right Direction – Wrong Amount | Managers Underestimated 2009 Declines In Performance | By: Robert Mandelbaum

As U.S. hotel managers began to prepare their 2009 budgets in the summer of 2008 there was a sense that the following year was going to be challenging. The U.S. economy was in recession, gas prices were on the rise, and news of declines in home values and employment were prevalent. Occupancy levels for U.S. hotels had begun to slide, but average daily room rates (ADR) were still on the rise.

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

October 14, 2010

JLLH Increases 2010 U.S. Hotel Transaction Volume Forecast from $4.5 billion to $6.5 Billion

Jones Lang LaSalle Hotels today released the firm’s updated U.S. hotel transaction forecast, which pegs deal volume increasing to $6.5 billion for 2010, up $2 billion. Jones Lang LaSalle Hotels’ managing director and CEO-Americas Arthur Adler unveiled the new projections during a panel presentation held today at the ULI Fall Meeting and Urban Land Expo held this week in Washington, D.C.

Opinion Article

September 28, 2010

Tips for cost cutting

Cost-cutting continues to be crucial to owners in the fallout of the Great Recession. At a Lodging Conference panel titled “Owners Talk About Operational Issues,” hotel owners discussed recession-driven ideas such as eliminating room service and daily housekeeping. The perennial issues of brand-owner conflict were also a topic of conversation.

Opinion Article

September 24, 2010

Hotel Lawyer with the latest pulse of the hotel industry from The Lodging Conference at the Arizona Biltmore in Phoenix Arixona

The title of this blog says it all. This is the time and place to be - The Lodging Conference in Phoenix, Arizona. We called it at Meet the Money® in May, 2010, but the tide that started turning at the end of the first quarter 2010 has continued its flow and it seems to be unmistakable now. I expect to hear some very exciting things at the Conference here in the next few days.

By Jim Butler, Partner & Co-Chair Hospitality Practice, Blank Rome LLP, Blank Rome

Phoenix-Scottsdale, Arizona, United States

August 2, 2010

Latino Hotel Association Forms Strategic Relationship with Association Mexicana Hoteles y Moteles

The Latino Hotel Association (LHA), a newly formed global organization dedicated to expanding Latino ownership, leadership and commerce in the hotel industry, today announced that it had formed a strategic alliance with the Association Mexicana Hoteles y Moteles, Mexico's primary hotel association.

Latino Hotel & Restaurant Association (LHRA)

External Article

July 28, 2010

Choice Hotels 2Q Profit Climbs 5.9%, Raises Low End Of Yr View | wsj.com

Choice Hotels International Inc.'s (CHH) second-quarter profit jumped 5.9% as the hotel-chain operator's revenue increased more than expected. Corporate travel and overseas demand have helped strengthen the hotel industry as a whole, but Choice Hotels--whose strongest presence is in the U.S.--had been lagging as domestic recovery has been slower than abroad.

July 27, 2010

Aptech’s Profitvue Back Office Accounting Selected by Four Hotel Companies

Aptech Computer Systems, Inc., the leading provider of hospitality software for business intelligence, enterprise financial accounting, and resource planning, today announced that four hotel companies have selected the Profitvue® back office system for corporate and property financial accounting.

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External Article

July 19, 2010

Innkeepers USA Prepares Bankruptcy Filing | wsj.com

Innkeepers USA Trust, a real-estate investment trust that owns more than 70 midmarket hotels, is preparing to file for Chapter 11 bankruptcy protection in the coming days, said people familiar with the matter. Innkeepers could file for bankruptcy as soon as Monday, two of these people said, though the exact timing remained in flux. The hotel company, laboring under more than $1 billion in debt, holds interests in 73 extended-stay hotels and other properties operated under brands such as Hampton Inns, Courtyard by Marriott and Embassy Suites. The hotels are spread across 19 states and Washington, D.C.

Opinion Article

July 19, 2010

Dealing with default: What’s next?

The recession may be over from an empirical standpoint, but that doesn’t mean lenders have stopped pressuring owners. Now is the time when the aftereffects of the downturn are really taking hold, leaving many owners struggling to hang on by their fingertips. But there are alternatives to mailing in the keys, according to panelists during a session titled “Hotels In Default: What’s Next?” at the Midwest Lodging Investment Summit this week.

July 12, 2010

PKF Consulting, Inc. Co-Brands with Colliers International in the United States

Three and a half years into their partnership, PKF Consulting, Inc. (PKFC) and Colliers International today announced that they will further leverage their relationship by co-branding within the United States. The global reach and diversity of real estate services offered by Colliers International augments the benefits derived from PKFC’s affiliation with PKF International. The co-branding underscores the successful combination of their individual strengths.

July 1, 2010

Latest Finance Issues Discussed at HFTP's 2010 Club and Hotel Controllers Conference

Nearly 200 professionals gathered to discuss current hospitality finance issues at Hospitality Financial and Technology Professionals' (HFTP®) Club and Hotel Controllers Conference. The conference, co-located with the 2010 Hospitality Industry Technology Exposition and Conference (HITEC®), was June 22-23 at the Orange County Convention Center in Orlando, Fla. It included an extended education schedule with two full days of education, and HITEC-related benefits like access to the largest hospitality technology exposition and an expanded group of peers to network with.

June 21, 2010

Starwood Embraces Adaco for Hospitality Management

Following an in-depth vendor selection process, Starwood Hotels & Resorts Worldwide, Inc. selected Adaco.NET, the world's leading hospitality procurement platform. The announcement was made at the HITEC 2010 conference that opened here today, the world's largest hospitality technology event.

June 15, 2010

Shaner Hotel Group Announces Expansion Plan, Updates Loan Acquisition Program

Officials of Shaner Hotel Group (SHG) today announced plans to acquire between $300 million and $500 million in hotel assets over the near term, possibly as soon as by year-end. The company also announced that its Shaner Mortgage Real Estate Investment Trust (REIT), funded by Shaner and Five Arrows Realty Securities V, L.P., has acquired $90 million face amount of performing first mortgage debt under its previously announced plan to acquire approximately $200 million of debt.

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Hospitality Net

June 8, 2010

U.S. Hotel Sales Start Up,frustrations Remain | Reuters

Hotel transaction volume in the United States looks set to surpass the prevailing forecast of $3.5 billion this year, as aspiring investors grouse about stiff competition and higher-than-expected prices for choice hotels. Through May, hotel investments amounted to about $2.2 billion, much of which has been the province of publicy-traded lodging real estate investment trusts (REIT), according to a Baird Research note published in late May.

June 7, 2010

STR Reports Us Hotel Performance For Week Ending 29 May 2010

The U.S. hotel industry reported increases in all three key performance measurements during the week of 23-29 May 2010, according to data from STR. In year-over-year measurements, the industry's occupancy increased 19.1 percent to 61.3 percent. Average daily rate was up 4.3 percent to US$97.21. Revenue per available room rose 24.2 percent to US$59.56.

Opinion Article

June 3, 2010

Due diligence key to buying distressed hotel debt

The rewards of buying such loans are substantial, as they usually are sold at a discount—often steep—to the outstanding amount of the loan. The goal when purchasing a hotel loan is usually to obtain title to the hotel as quickly and inexpensively as possible, not to remain as the lender on the loan. However, too often buyers approach a note purchase like they are simply buying the underlying hotel—without adequately analyzing the numerous landmines along the path to hotel ownership. When you analyze whether to purchase a distressed hotel loan and what price to pay for it, it is important to assess all of those risks.

External Article

May 31, 2010

Consortium in $4bn deal for Extended Stay | ft.com

A Centerbridge-led consortium, which includes Blackstone and funds controlled by John Paulson, has agreed to pay $3.93bn for the bankrupt hotel chain Extended Stay Hotels, following a heated auction that ended early yesterday morning. Blackstone, the private equity firm, has owned the group before. It bought Extended Stay in 2004 for $2bn and $1bn in debt. It then sold the chain for $8bn to Lightstone Group at the peak of the market in April, 2007.

Opinion Article

May 23, 2010

The Direction of D.C. Hotel Values and Cap Rates

According to George Mason University’s Center for Regional Analysis, the Leading Index for the Washington MSA, which provides a projection of future economic conditions based on an amalgam of indicators, has seen month-over-month increases since the fourth quarter of 2009. While the market lost almost 8,800 jobs between March 2009 and March 2010, D.C. fared better than any of the other top 15 job markets in the country and still has the lowest unemployment rate among this group.

Washington, District of Columbia, United States

Opinion Article

May 20, 2010

Taxes, Deficits and Policy

The more things change, the more they stay the same. Both political parties know a winning strategy when they see it. After a year where the principle focus was on health care, the whole focus seems to have shifted to jobs. Little if any time or importance was spent on taxes. However, it just puts more pressure on 2010 because of the expiration of a number of provisions during 2009 and even more at the end of 2010.

By Kevin Reilly, CBRE Hotels

May 19, 2010

HVS Launches Property Tax Services: Assisting Hotel Owners in Lowering Expenses During this Current Economy

“HVS Property Tax Services has been formally established to meet the increasing demand of hotel owners seeking to reduce their property tax expense during the current economic climate,” explains Rushmore. “This new HVS division will specifically assist hotel owners and operators in analyzing their overall tax burden, and then represent them in the appeal process. HVS’s experience in property tax valuation spans 30 years, and our colleague Tom Dolan has been representing owners’ interests for the last ten.”

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