'Rainy and Sunny' Conditions Could Dictate Hotel Deals Market For Rest of Year
A majority of Lodging Industry Investment Council members said they expect full-year lodging real estate transactions in 2023 to exceed the volume in 2022.
News
Hotel Investors Say They Won't Wait on the Sidelines Much Longer
The rapid pace of interest rate increases and uncertainty over an economic slowdown have U.S. hotel owners and investors wondering what that means for deals this year.
So, What Are You Seeing?
At this year’s Americas Lodging Investment Summit, the opening question in almost every conversation I participated in was “what are you seeing?”
By Jan Freitag, National Director, Hospitality Market Analytics, HotelNewsNow
U.S. Hotel Sales Kick-Off 2023 With Record-Breaking Pricing in Growing Markets
Despite a slowdown in sales in the second half of 2022 due to dislocation in the debt markets, hotel investors have kicked off 2023 with record sales for quality assets in highly desirable and growing markets.
Sheila Johnson, Founder and CEO of Salamander Hotels & Resorts, Named 2023 Keynote Speaker at the 34th Hunter Hotel Investment Conference
The Hunter Hotel Investment Conference is pleased to announce Sheila Johnson, Founder and CEO of Salamander Hotels & Resorts, will take the main stage as the Keynote Speaker at the Atlanta Marriott Marquis on Wednesday afternoon, March 22, 2023.
Exploring the Benefits of Switching to E-Payments
It's no secret that e-commerce has experienced a rapid surge over recent years, reaching a nearly 50% user penetration rate for digital commerce in 2020, and more skyrocketing growth throughout and following the COVID-19 pandemic.
AAHOA Announces Largest Trade Show in 34-Year History
The Asian American Hotel Owners Association (AAHOA), the largest hotel owners association in the world with nearly 20,000 members, announced today that it has already secured a record level of booth sales for the Trade Show at AAHOACON23, April 11-14, 2023, making it the largest in AAHOA history.
The National Hispanic Corporate Council Welcomes Choice Hotels as its Newest Corporate Member
The National Hispanic Corporate Council (NHCC), the premier resource for corporate America on Hispanic strategy development, announces Choice Hotels International, Inc. as its newest corporate member.
Geoff Ballotti, Wyndham President and CEO, Headlines the Bharat Shah Leadership Speaker Series at the 34th Hunter Hotel Investment Conference
The Hunter Hotel Investment Conference, Noble Investment Group, and Cecil B. Day School of Hospitality Administration, Georgia State University are pleased to announce Geoff Ballotti, President and CEO of Wyndham Hotels & Resorts, will join Mit Shah, CEO of Noble, for the 9th Annual Bharat Shah Leadership Speaker Series.
ALIS Kicks off 2023, with Most Expecting the Year’s Best Days to Come in the Second Half of the Year
Another ALIS is in the books, and a busy one at that, with nearly 3,000 in attendance. If you weren’t one of those lucky thousands, here are our takeaways.
By Rodney Clough, President - HVS Americas, Denver, HVS
Strong First Quarter Could Lead into Choppy 2023 for Public Hotel Companies
Challenges and opportunities abound in 2023 for publicly traded hotel companies, and Wall Street analysts who cover those companies say the good and bad won't be felt evenly across different types of companies or throughout the calendar year.
Some Challenges to Hotel Development Ease as New Ones Arise
While some factors are easing the constraints on hotel construction, new hotel projects are facing challenges earlier in the development process.
In High Demand: Florida Hotels and Resorts (Again)
In an article we published in February 2021, before the COVID-19 vaccines were broadly rolled out, we suggested to owners of hotels in Florida, and waterfront hotels in the Sunshine State in particular, that their assets would soon be in high demand.
By Nick Plasencia, Managing Director with The Plasencia Group, The Plasencia Group
Why a 30-Year Trend in the US Lodging Industry Is Not Expected To Hold in 2023
U.S. Gross Domestic Product and hotel demand are strongly correlated. Based on data from 1990 through 2019, changes in demand for hotel rooms year over year have mirrored changes in the GDP, a consistent trend over the past 30 years.
Hard Rock® Completes Acquisition of The Mirage Hotel & Casino®
Hard Rock International (HRI) on Friday received regulatory approval from the Nevada Gaming Commission for its acquisition of The Mirage Hotel & Casino from MGM Resorts International. HRI assumed operations control of the property as of 6 a.m. Monday, December 19. Under terms of the transaction, HRI paid $1.075 billion in cash for the operating assets of The Mirage Hotel & Casino. HRI entered into a long-term lease agreement with VICI Properties Inc. for the real estate property of The Mirage.
MGM Resorts International Announces Completion of the Sale of the Operations of the Mirage
MGM Resorts International (NYSE: MGM) ("MGM Resorts" or the "Company") today announced it has closed on the sale of the operations of The Mirage Hotel & Casino ("The Mirage") to Hard Rock International ("Hard Rock") for $1.075 billion in cash.
Fed Rate Hikes Are ‘Emptying the Ocean of the Water,’ Barry Sternlicht Says
As the Federal Reserve is expected to hike interest rates again next week in its attempt to curb high inflation, billionaire real estate investor Barry Sternlicht says the U.S. central bank has missed the mark.
Spirides Provides $14 Million Construction Financing for Major League Baseball Player Hotel in Dunedin, FL
Spirides Hotel Finance Company has successfully provided, and the borrower has officially closed $14 million in construction-to-permanent mortgage financing from a Midwest U.S. headquartered bank to finance the development of a lodging facility in Dunedin, Florida for players of the Toronto Blue Jays Baseball Club, a Major League Baseball franchisee. Florida is well known for its multiple professional baseball Spring training facilities. After building in Dunedin their “second home,” a 65-acre, $100 million Player Development Complex training facility that includes a 115,000 square-foot multipurpose building, the Toronto Blue Jays Baseball Club had been searching for nearby consolidated quality housing for their major and minor league players to use as they rotate through for training when City of Dunedin officials introduced Toronto Blue Jays officials to Doug Anderson, an experienced Dunedin-based developer and general contractor who promptly orchestrated a deal to build the hotel and rent large blocks of rooms to the Blue Jays for the greater part of each year going forward.
Hotel Currents: Economics and Hotel Financial Performance
CBRE Hotels Research specializes in translating national and local economic conditions into measures of hospitality market and property-level financial performance now and into the future.
By Jack Corgel, Managing Director, CBRE Hotels’ Americas Research, CBRE Hotels
Rockbridge Closes $431 Million Fund VIII
Rockbridge is pleased to announce it has completed the final closing of its most recent value-add flagship fund, Rockbridge Hospitality Fund VIII L.P. ("Fund VIII") at $431 million of investor commitments, surpassing its target of $425 million. Fund VIII was backed by both long-standing investors and select new investors, including pension funds, foundations, endowments, insurance companies, asset managers, and private capital from family offices and high net worth investors.