Hospitality

Group Bookings Brighten Hotel Outlook for 2017

by Kristin Harlow December 1, 2016

NEW YORK CITY — Committed occupancy and average daily rates (ADR) for the first quarter of 2017 are showing major signs of growth in the hotel sector. Group travel is leading the way despite the continuing lag in transient booking pace in the fourth quarter of 2016, according to new data from TravelClick’s November 2016 North American Hospitality Review (NAHR). TravelClick defines a transient traveler as an individual business or leisure traveler. Transient booking pace is the rate by which these travelers book their reservations. Committed occupancy is defined as the sum of transient rooms and group rooms committed divided by capacity. The November NAHR looks at group sales commitments and individual reservations in the 25 major North American markets for hotel stays that are booked by Nov. 1, 2016, from the period of November 2016 to October 2017. Across all travel segments in the first quarter of 2017, occupancy and ADR are up 6.7 percent and 2.7 percent, respectively. Occupancy for the group segment is up 6.8 percent. “Even with the slowing transient reservation pace this month, especially within the business segment, hoteliers should look to the New Year for a promising outlook,” said John Hach, TravelClick’s senior industry …

December 1, 2016

Hospitality New York Northeast

Joint Venture Opens 250-Room Arlo NoMad Hotel in Manhattan

by Amy Works November 30, 2016

NEW YORK CITY — A partnership between Quadrum Global, Simon Baron Development, Eagle Point Hotel Partners and KSNY has opened Arlo NoMad, a hotel located at 11 E. 31st St. in Manhattan’s NoMad neighborhood. The 250-key hotel features self-check-in/check-out kiosks, complimentary WiFi, bedside USB charging stations, music lounges, rooftop terrace and patios. This is the second Arlo hotel that Quadrum has opened in New York City.

November 30, 2016

Florida Hospitality Southeast

Dunavant Enterprises Opens The Henderson Resort Hotel in Destin

by John Nelson November 28, 2016

DESTIN, FLA. — Memphis-based Dunavant Enterprises has opened its 170-room resort hotel in Destin known as The Henderson. Situated along the Gulf of Mexico and adjacent to a 208-acre state park, The Henderson features a spa, the Primrose restaurant, octagonal bar with panoramic Gulf views, rooftop terrace, two outdoor swimming pools with a lazy river, children’s club, 30,000 square feet of indoor and outdoor event space and private beach access. The Henderson is the anchor resort hotel of the still-developing Henderson Beach Resort, future phases of which include condominiums and villa-style resort accommodations. The existing beachfront Henderson Park Inn is also owned by Dunavant Enterprises. Salamander Hotels & Resorts manages The Henderson, which has created roughly 260 staff positions. The project team includes Atlanta-based architect Cooper Carry, Atlanta-based interior designer Kent Interior Design, Atlanta-based general contractor DPR Hardin and project manager Shannon Howell of Destin-based Devcon Services Group. Nightly rates for guest rooms range from $225 to $450 and from $595 to $1,250 for suites.

November 28, 2016

Hospitality Southeast Virginia

Donohoe/CORFAC Arranges $7.3M Sale of Holiday Inn Valley View in Roanoke

by John Nelson November 28, 2016

ROANOKE, VA. — Donohoe Real Estate Services/CORFAC International has arranged the $7.3 million sale of Holiday Inn Valley View, a 153-room hotel in Roanoke. Originally built in the 1980s as a Sheraton, the hotel is situated on 10 acres near the Roanoke-Blacksburg Regional Airport. The buyer, Roanoke Airport Hotel Partners LLC, plans to make renovations and brand updates to the hotel, which will continue to operate as a Holiday Inn. Bill Moyer and Charlotte Seale of Donohoe Real Estate Services/CORFAC International represented the seller, and Seale procured the buyer. Donohoe Real Estate Services/CORFAC International is a member of Hotels Brokers International.

November 28, 2016

Hospitality Loans New York Northeast

Meridian Capital Arranges $13M Construction Loan for New Marriott Towne Suites in Long Island City

by Amy Works November 23, 2016

NEW YORK CITY — Meridian Capital Group has arranged $13 million in ground-up construction financing for the development of the Marriott Towne Suites hotel located at 38-42 11th St. in Long Island City. The two-year construction loan, provided by a local savings bank, features full-term interest-only payments and an extension option. Midtown Properties, the borrower, is developing the 10-story extended-stay hotel that will feature 133 guest rooms. Eli Finkel and Michael Ryback of Meridian Capital arranged the financing.

November 23, 2016

Hospitality New Mexico Western

Super 8 Taos in New Mexico Sells for $1.5M

by Nellie Day November 23, 2016

TAOS, N.M. — Jayjala LLC has acquired a 49-room Super 8 Taos motel for $1.5 million. The property is located at 1347 Paseo Del Pueblo Sur in Taos. Leilani Tedeski and Bruce Barnhard of Marcus & Millichap represented both the buyer and seller, another LLC, in this transaction.

November 23, 2016

Hospitality Texas

HREC Arranges Sale of 160-Room DoubleTree Hotel in Metro Dallas

by Amy Works November 22, 2016

FARMERS BRANCH, TEXAS — HREC Investment Advisors has brokered the sale of the DoubleTree Dallas Farmers Branch hotel located at 11611 Luna Road in Farmers Branch, a suburb of Dallas. Glacier House Hotels acquired the 160-room property from Presidian Hotels for an undisclosed price. Mike Armstrong of HREC brokered the transaction.

November 22, 2016

Hospitality Midwest Wisconsin

HREC Arranges Sale of GrandStay Hotel in Appleton, Wisconsin

by Kristin Harlow November 21, 2016

APPLETON, WIS. — HREC Investment Advisors has arranged the sale of an 80-guestroom GrandStay Hotel & Suites, a regional hotel chain, in Appleton. The sales price was not disclosed. The hotel is located at 300 N. Mall Drive near the Fox River Mall and Outagamie Regional Airport. Features include an indoor pool, lobby bar and exercise room. Regal Hospitality Inc. was the buyer. Scott Kaniewski of HREC Chicago exclusively represented the seller, Pearlshire Capital.

November 21, 2016

Hawaii Hospitality Top Stories Western

Ares Management, SMW Hospitality, Trinity Investments Buy Ritz-Carlton Kapalua in Maui

by Jeff Shaw November 21, 2016

LAHAINA, HAWAII — A joint venture between funds managed by Ares Management LP (NYSE: ARES), SMW Hospitality LLC and Trinity Investments LLC has acquired The Ritz-Carlton Kapalua in Lahaina on the Hawaiian island of Maui. The JV acquired the property from a partnership between Woodridge Capital Partners LLC and Colony Capital Inc. The price was not disclosed. The Ritz-Carlton Kapalua is an oceanfront property located on 49 acres of Maui’s northwest shore. The hotel is part of the 23,000-acre master planned Kapalua resort, home to the Kapalua Wine and Food Festival and the PGA Tour’s Tournament of Champions. The resort is renowned for its golf courses, tennis facilities, beaches, restaurants and shops. The Ritz-Carlton Kapalua features 297 guestrooms, as well as 107 condos within a dedicated wing of the hotel. Known as The Residences, the one- and two-bedroom condos were recently renovated. The joint venture plans to renovate the hotel’s common areas and guest rooms following the acquisition. The hotel’s amenities include a 17,500-square-foot spa with 15 treatment rooms, three-tiered swimming pool, fitness center, 4,844-square-foot retail arcade, access to two championship golf courses (The Bay Course and The Plantation Course) and instruction at Kapalua Golf Academy. In addition, guests can …

November 21, 2016

Hospitality Market Reports Texas Texas Market Reports

San Antonio: Hospitality on the Rise

by Haisten Willis November 18, 2016

San Antonio evokes many positive images: the River Walk, the Alamo, Fiesta, the Mission Trail, Texas Hill Country and more. All of these images have one thing in common: hospitality. San Antonio is known for its warmth and hospitality. It is a fun place to visit for the many conventioneers and tourists that are attracted to the city year after year. It is also a good place to do business and a great place to live. Strength of the Market San Antonio boasts a strong economy. Overall employment grew at 3.5 percent over the past year, including an above-average growth of 3.2 percent for hospitality, retail and healthcare employment. Unemployment declined to 3.6 percent in July 2016, with strong increases in the labor force, according to Moody’s Analytics. Tourism and convention activity drive the economy, strengthened by a large military and cybersecurity presence. Manufacturing, healthcare and energy round out San Antonio’s strong, stable economy. The San Antonio lodging industry has also maintained a strong and steady pattern. While other Texas markets are adding a lot of new supply, San Antonio has kept the number of new hotel rooms to a minimum, adding only about 1,000 rooms over the past five …

November 18, 2016

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