Hospitality Financial and Technology Professionals (HFTP®) will honor Brian L. Hightower, CHTP, as the 2011 CHTP (Certified Hospitality Technology Professional) of the Year during the Opening Session of the 2011 Hospitality Industry Technology Exposition and Conference (HITEC®) on Monday, June 20. In its 14th year, the CHTP of the Year honors the individual that scored the highest on the CHTP certification exam in a given year.
Robert W. Baird & Co. (Baird) 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 industry's leading news website, HotelNewsNow.com.
Officials of Pyramid Hotel Group, a Boston-based hotel management, asset management and project management firm, today announced that the company added 11 hotels and resorts aggregating more than 3,300 rooms to its managed and asset managed portfolio in 2010. These ranged from city center commercial hotels to large destination resorts in multiple markets across the U.S.
Officials of the upcoming Hunter Hotel Investment Conference, one of the four major national annual hotel investment conferences, today unveiled its agenda noting that it will focus primarily on strategies hoteliers can use to take full advantage of the rebounding hotel economy. The 23rd annual event will take place on March 6-8, 2011, at the Atlanta Marriott Marquis in Georgia.
The Baird/STR Hotel Stock Index ended October at 2,162, a 6.3-percent increase for the month and a 34.8-percent increase for year-to-date 2010. The Index ended 2009 at 1603.
Phelps Lane, President & CEO of Lane Industries, Inc., has announced the formation of an exciting new partnership with the leadership team of Lane Hospitality as a result of their substantial investment in Lane's hotel ownership and management business. This transaction – which closed October 29, 2010 – allows Lane to focus its combined talents and energies to ensure a successful future.
Eighty-one percent of investors surveyed actively are pursuing acquisitions, even though 28 percent currently hold delinquent assets, according to the Hotel Investors’ Gauge, a survey from STR Analytics and HotelNewsNow.com.
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.
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.
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.
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.
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.
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.
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.
“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.”
Overall hotel capitalization rates have declined 32 basis points from 2009 to 2010. We attribute the decline in hotel cap rates to the over-weighted influence of high-priced urban and luxury hotel transactions. Hotel cap rates are above 10 percent for extended-stay and select-service properties. While these property types are extremely popular with guests, they are also preferred by developers and run the risk of increased competition.
On July 13, 2010, the Americas Lodging Investment Summit (ALIS) will host the second ALIS Summer Update, a one-day event presenting a mid-year review of the most popular, timely, and focused sessions from this past ALIS conference. Held at the new JW Marriott at LA LIVE in Los Angeles, California, ALIS Summer Update attendees can also opt to log in to a live global Webcast.
The Center for Real Estate Finance (CREF) at the Cornell School of Hotel Administration welcomes the Chartres Lodging Group, LLC, as a new member of the Industry Fellows program. An advisory and investment firm focused on the property management, asset management, renovation, and development of lodging assets, Chartres Lodging is currently responsible for a $6 billion, 20,000-room portfolio of luxury and upscale hotels, conference centers, and resorts in the United States and Japan.
Lodgian, Inc. (NYSE Amex Equities: LGN), one of the nation's largest independent hotel owners and operators, announced that at the special meeting of Lodgian's stockholders held today, the stockholders voted to adopt the merger agreement entered into by Lodgian with LSREF Lodging Investments, LLC ("LSREF") and LSREF Lodging Merger Co., Inc., affiliates of Lone Star Funds, and approve the merger pursuant to which Lodgian will be acquired by LSREF.
The U.S. Hotel Industry Leading Indicator, or HIL, went up 0.6 percent in February, gaining ground after last month's 0.1-percent decline, according to economic research firm e-forecasting.com in conjunction with STR.