Hospitality

Hospitality Experts Offer Five Tips for Running a Successful Full-Service Hotel

by Christina Cannon March 24, 2016

ATLANTA — When it comes to successfully operating a full-service hotel there is no silver bullet for achieving success, but there are some smart steps owners and operators should take, say industry experts who spoke at the 28th annual Hunter Hotel Conference. The three-day event at the Marriott Marquis drew 1,300 attendees, up 8 percent from a year ago, according to conference organizers. In a panel titled “The Evolution of Full-Service Hotels,” professionals from Horwath HTL, GF Management, Davidson Hotels and Resorts, Legacy Ventures and Hyatt Hotel Corp. emphasized time and again that full-service hotels are in no way dying. They are simply evolving, and owners and operators must also evolve if they have hopes of being successful. “It’s still a street corner business,” said Thom Geshay, senior vice president of business development for Davidson Hotels and Resorts. “You have to look at the market you’re in, you have to define and profile your customer and give them what they need.” 1. Get Creative in Controlling Costs — Full-service hotels have a slew of amenities, and each amenity presents a new place to create revenues. “Our job is to find something that is broken or not maximized in some way …

March 24, 2016

Alabama Hospitality Mixed-Use Southeast

RCP Cos. to Bring AC Hotel to CityCentre at Big Spring in Huntsville

by John Nelson March 23, 2016

HUNTSVILLE, ALA. — RCP Cos. has inked a deal with Marriott International to bring a 150-room AC Hotel to CityCentre at Big Spring, a $100 million mixed-use development in Huntsville. In partnership with Yedla Management Co., Marriott will bring the European-inspired hotel brand to only its 10th market in the U.S. Construction will begin this summer. Located on Williams Avenue, the hotel will feature a lounge area, kitchen with self-serve European fare, complimentary Wi-Fi, mobile check-in and check-out and a 24-hour fitness center. Yedla plans to bring another hotel concept yet to be named to CityCentre at Big Spring, according to RCP.

March 23, 2016

Hospitality Idaho Loans Western

PMZ Arranges $27M Refinancing for Boise Airport Hotel Portfolio

by Nellie Day March 22, 2016

BOISE, IDAHO — PMZ Realty Capital has arranged a $27 million refinancing for a four-property hotel portfolio in Boise. The Boise Airport Hotel Portfolio includes the Fairfield Inn by Marriott Boise, Hampton Inn Boise – Airport, Holiday Inn Boise Airport and the La Quinta Inn & Suites Boise Airport. The portfolio contains more than 300 hotel rooms.

March 22, 2016

Sonesta-Hilton-Head-Sims-Patrick-Studio-Interior-Design

Features Hospitality Southeast Feature Archive Top Stories

Coordination Between Hotel Renovation Team Members Is Key to Achieving ‘Wow’ Factor

by Haisten Willis March 22, 2016

ATLANTA — There are many moving parts when refreshing or renovating a hotel property, and the key is engaging everyone involved early and often. This was the message delivered on St. Patrick’s Day, March 17, by a panel of hospitality experts during the 28th annual Hunter Hotel Conference held at the Atlanta Marriott Marquis. Titled “Design to Inspire: Creating the Unexpected,” the breakout session featured a four-member panel that included Libby Patrick, president of Atlanta-based interior design firm Sims Patrick Studio; Bethany Warner, director of design management for Starwood Hotels & Resorts Worldwide; Sam Cicero Jr., president of Plainfield, Ill.-based Cicero’s Development Corp., a general contractor specializing in commercial renovation; and Alan Benjamin, president of Boulder, Colo.-based Benjamin West, a furniture, fixtures and equipment (FF&E) purchasing firm. Johnathan Nehmer, chairman and founder of Rockville, Md.-based architecture firm Jonathan Nehmer + Associates, served as moderator. The session was the first design-focused panel in the conference’s history. “How do we create the unexpected in design?” asked Nehmer. “How do we put that ‘wow’ factor out there and what role does design play in the hospitality experience? What we’re going to talk about today is how designers and contractors and purchasing agents do that.” …

March 22, 2016

Hospitality Top Stories

Marriott Tops Anbang Bid to Acquire Starwood, Raising Offer to $13.6B

by Nellie Day March 21, 2016

STAMFORD, CONN. — Marriott International Inc. (NASDAQ: MAR) has increased its bid to acquire Starwood Hotels & Resorts Worldwide (NYSE: HOT) to $13.6 billion. Marriott had previously offered $12.2 billion to acquire the hospitality company, which owns the Westin, St. Regis, Sheraton and W hotel brands, before being outbid by Beijing-based Anbang Insurance Group at $13.2 billion. The new Marriott offer values Starwood at $79.53 per share, topping Anbang’s offer of $78 per share. Marriott’s initial offer in November would’ve given shareholders 0.92 share of Marriott stock and $2 cash for each share of Starwood they own. The new offer will give shareholders less Marriott stock — 0.8 share — but considerably more cash at $21 per share, according to The New York Times. Under the new agreement, the “break-up fee” — what Starwood will have to pay Marriott if it backs out of the deal — has been increased from $400 million to $450 million. On a conference call this morning, Marriott CEO Arne Sorenson noted that Anbang could still make another offer to disrupt the deal, according to Hotel News Now. The Starwood and Marriott shareholders are both scheduled to vote April 8 on which proposal to accept. “We are pleased that …

March 21, 2016

Hospitality Iowa Midwest

Homewood Suites by Hilton Opens New Hotel in Davenport, Iowa

by Christina Cannon March 18, 2016

DAVENPORT, IOWA — Homewood Suites by Hilton has opened a new 102-room hotel in Davenport. Homewood Suites by Hilton Davenport is Hilton Worldwide’s newest property and features studio, one- and two-bedroom suites. Davenport Lodging Group developed and owns the hotel. Amenities at the hotel include complimentary breakfast, Wi-Fi, a basketball court, grocery shopping service, fitness center and indoor swimming pool with hot tub. The hotel is located at 4750 Progress Drive.

March 18, 2016

Connecticut Hospitality Northeast Top Stories

Starwood Hotels Considers Terminating Merger with Marriott in Favor of $13.2B Proposal from Anbang

by Christina Cannon March 18, 2016

STAMFORD, CONN. — Starwood Hotels & Resorts Worldwide Inc. is considering terminating its planned acquisition by Marriott in light of a new offer from a Chinese-led joint venture. Beijing-based Anbang Insurance Group is leading the new offer of $13.2 billion, which includes investment from J.C. Flowers & Co. and Primavera Capital Limited. The joint venture is collectively known as Anbang Consortium. Starwood, which is based in Stamford, said that the Anbang bid is a superior proposal to the price tag that Marriott agreed to pay in November. Marriott’s cash-and-stock proposal was valued at $68.06 per share, or $13.06 billion as of Thursday’s closing price, according to The Wall Street Journal. Anbang Consortium would pay $78 per share, an increase from the $76 per share proposal it made on March 10. Click here to read the details on the initial Marriott offer. Marriott has until March 28 to make a counter offer to Starwood, and has stated that it “continues to believe that a combination of Marriott and Starwood is the best course for both companies and offers the best value to Starwood shareholders.” Under the terms of the original merger agreement, Starwood, which owns the Westin, St. Regis, Sheraton and W hotel …

March 18, 2016

Hospitality Southeast Tennessee

Marcus & Millichap Brokers $58M Sale of Hampton Inn in Downtown Nashville

by John Nelson March 17, 2016

NASHVILLE, TENN. — Marcus & Millichap has brokered the $58 million sale of the 154-room Hampton Inn & Suites located at 310 4th Ave. S. in downtown Nashville. The hotel is situated across the street from the new Music City Center, two miles from Vanderbilt University and eight miles from the Nashville International Airport. Opened in 2007, the hotel features a breakfast buffet, wireless Internet access, fitness center, indoor pool and 2,500 square feet of meeting and event space. Georgia Krewson and Wes Tiner of Marcus & Millichap’s National Hospitality Group (NHG), along with Scott Franco, Zach Moore and Kelley Deibler of Marcus & Millichap’s Nashville office, represented the seller, MR Hotels LLC, in the transaction.

March 17, 2016

Hospitality Midwest Wisconsin

Marcus & Millichap Arranges $4.4M Sale of Wisconsin Hotel Property

by Christina Cannon March 17, 2016

BLACK RIVER FALLS, WIS. — Marcus & Millichap has arranged the $4.4 million sale of Comfort Inn & Suites Black River Falls. The 75-room hotel was originally constructed in 1997 as a Holiday Inn Express & Suites. The property is located at W10170 Highway 54 E. in Black River Falls, approximately 53 miles southeast of Eau Claire. Amenities include a porte-cochère, indoor pool and whirlpool and meeting space. Jon Ruzicka of Marcus & Millichap listed the property on behalf of the seller, a limited liability company. Ruzicka also secured the buyer, a private investor.

March 17, 2016

State of the Industry Hunter Hotel Conference

Features Georgia Hospitality Southeast Top Stories

Hotel Experts Preach Opportunistic Mindset at Hunter Hotel Conference

by John Nelson March 17, 2016

ATLANTA — Too often hoteliers are so immersed in executing their business plans they miss golden opportunities that suddenly arise, according to hotel experts speaking at the 28th annual Hunter Hotel Conference. During the “State of the Industry” panel, executives from Blackstone, Starwood Capital Group, Rockbridge, MCR Development LLC and Apple Hospitality REIT took the stage to discuss opportunities they see in the marketplace. Tyler Morse, CEO and managing partner of MCR Development, said the lodging industry in the United States will present ample opportunities in the next couple years. “The hotel space in particular in the U.S. economy is going to be great in 2016 and 2017. The rest of the world is kind of a disaster,” said Morse. “Funds are coming to the U.S. as a flight to quality. The U.S. is where the growth is, and the hotel business is a beneficiary of that.” In a real-world example of being opportunistic, Brian Kim, managing director of real estate at Blackstone, spoke about how the firm’s recent $6.5 billion sale of Strategic Hotels & Resorts to Beijing-based Anbang Insurance Group Inc. wasn’t the original strategy for Blackstone. Having just closed on the Strategic purchase in December 2015, Blackstone’s …

March 17, 2016

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