Premier Capital Associates, LLC, a national, full-service real estate investment company specializing in debt and advisory services for hospitality real estate, announced today that they secured refinancing for the Holiday Inn Express in Pasco, WA.
RobertDouglas announced today that it has advised Hospitality Resorts Inc. on a CAD$213 million refinancing of the 1,006-key Hilton Niagara Falls/Fallsview Hotel and Suites, located in Niagara Falls, Ontario. Hospitality Resorts Inc. is a privately-owned hotel investment, development and management company that has been active in the Niagara hotel and restaurant businesses for more than 40 years. The fixed-rate, fifteen-year financing, one of the largest single hotel financings ever in Canada, was provided by Pacific Life.
Questex LLC, a leading global business event and information company, today announced the appointment of Debra S. Mason, a veteran finance executive, as chief financial officer, responsible for leading the company's global financial operations.
Miami, Florida: HotelQuando, an online booking site and App that allows consumers to instantly book hotel rooms by blocks of three, six, nine and twelve hours, announces its first hotel partnership in the Miami area. The platform joined forces with Pullman Miami Airport Hotel to service business travelers looking for accommodations near the Miami International Airport; a segment that has been increasing in the Latin American hub. HotelQuando announced its U.S. expansion in March and since has 45+ hotel partnerships across the country.
Premier Capital Associates, LLC, a national, full-service real estate investment company specializing in debt and advisory services for hospitality real estate, announced today that they arranged financing for the acquisition and refurbishment of the Hampton Inn & Suites, Eugene, OR.
Onyx CenterSource, the global leader in hotel commission payment and recovery services, today announced the acquisition of eCommission Solutions LLC, a New York-based company that provides revenue recovery, data management, business intelligence and consulting services to travel agencies, consortia and corporate travel managers.
Premier Capital Associates, LLC, a national, full-service real estate investment company specializing in debt and advisory services for hospitality real estate, announced today that they arranged funding to support the acquisition and renovation of the midcentury modern treasure – The Papago Inn, Scottsdale.
RobertDouglas announced today that it advised VanTrust Real Estate LLC on the sale of Hotel Sorella Country Club Plaza. Hotel Sorella was acquired by a partnership between a real estate investment management firm and a privately-held hotel management company.
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the first quarter of 2017, according to data from STR. Compared with Q1 2016:
IHG values the relationship it has with its guests and understands the importance of protecting payment card data. Many IHG-branded locations are independently owned and operated franchises, and certain of these franchisee operated locations in the Americas were made aware by payment card networks of patterns of unauthorized charges occurring on payment cards after they were legitimately used at their locations. To ensure an efficient and effective response, IHG hired a leading cyber security firm on behalf of franchisees to coordinate an examination of the payment card processing systems of franchise hotel locations in the Americas region.
TAMPA, FL—Spirides Hospitality Finance Company has successfully arranged and its client has closed on a $7.5 million senior loan facility from a southeast U.S. headquartered bank to finance the development of a new Hilton Tru Hotel in Florence, SC. The terms of the financing are as follows: The first 18 months during construction will have mortgage payments which are interest only, priced at the prime interest rate plus .50% (currently 4.50%) per annum, adjusted quarterly. Upon completion of construction, the loan payments will convert to a 25 year fully amortizing principal and interest monthly loan payment schedule. The interest rate of the permanent loan will be fixed for five years, then adjusting every 5 years. The interest rate will be priced using the 5 year SWAP rate plus 3.55% (currently 5.55%) per annum. The loan amount was sized using a 75% Loan to Cost ratio, and there is no prepayment penalty after the first five years of the loan.
Quebec has announced a 70-million-dollar tourism investment to be used over a three year period in order to “diversify, enrich, and develop” Quebec tourism offer. This news pleased especially the owners of ski resorts in Quebec. For most of them, the modernization of facilities and equipment is at the top of their priority list.
The money will be invested in the form of subsidies, “to support and help to materialize Quebec tourism projects, for a total of 300 million dollars”, Julie Boutlet, the Minister responsible for the project indicated, during a press conference.
Premier Capital Associates, LLC, a national, full-service real estate investment company specializing in debt and advisory services for hospitality real estate, announced today that they arranged refinancing for the Inn at Northrup Station, a one of a kind boutique hotel located along Portland's celebrated streetcar line.
RobertDouglas announced today that it advised on the $57 million refinancing of the Marriott St. Louis Grand hotel. The five-year, floating rate financing was provided by a debt fund managed by Apollo Global Management.
FelCor Lodging Trust Incorporated (NYSE:FCH)'s Board of Directors today sent the following letter to Montgomery J. Bennett, Chairman of Ashford Hospitality Trust (NYSE:AHT), regarding AHT's proposal to combine its business with FelCor. The full text of the letter is as follows:
Global hospitality association Hospitality Financial and Technology Professionals (HFTP®), producers of the world's largest hospitality technology conference Hospitality Industry Technology Exposition and Conference (HITEC®), is pleased to announce its exhibit space for HITEC Toronto is officially sold out. A waiting list is available on a first-come, first-served basis for booth space – an updated floor plan is available on the HITEC Toronto website. HFTP's HITEC Toronto is the second, and largest, of three HITEC events planned for 2017, and will take place June 26–29 at the Metro Toronto Convention Centre in Toronto, Ontario Canada.
Hospitality Financial and Technology Professionals (HFTP®), producers of Hospitality Industry Technology Exposition & Conference (HITEC®), has announced that attendee registration for its HITEC Toronto is now available online. Also available on the HITEC Toronto website is information on travel and hotel reservations. HITEC is the world's largest hospitality technology exposition and conference, and this year will be HFTP's 45th anniversary since it produced its first HITEC event in 1972. HITEC Toronto is the second, and largest, of three HITEC events planned for 2017, and will be June 26–29, 2017 at the Metro Toronto Convention Centre in Toronto, Ontario Canada.
Financial planning typically involves deciding how much savings to place in stocks, bonds and other assets while weighing the risks associated with each element of a diversified investment portfolio. A new study from Cornell University examines risk-return profiles and finds that investors see different purposes for real estate investment trust (REIT) common stock and preferred stock depending on their tolerance for risk.
The story is a familiar one. A hotel that formerly outperformed its competitive set is now struggling to maintain market position. Rate and occupancy penetration indexes are headed in the wrong direction, and online reviews regularly contain comments such as "needs a refresh" or "feels dated."
Most hospitality firms do not consider managing stock portfolios to be a main part of their operations. They are in the service business, using their real assets and the services provided by employees to create valuable experiences for guests. However, the need to focus on stock investments arises through those employees. Employees consistently rank benefits, including retirement benefits, among the top five contributors to job satisfaction and as a key consideration in accepting a job.1 It is not surprising, then, that more than 90 percent of companies with 500 or more employees offer retirement plans. The five largest hotel companies in the U.S. have over $10 billion in assets under management in their retirement plans, making these plans a key component in retirement investment decisions.