Say it ain't so: The House is talking repeal of debit card swipe-fee protections, which keep transaction costs fair and reasonable for restaurants.
Starwood Capital Group today announced the launch of Uptown Suites, a nationwide brand of upscale, economy-priced extended-stay suites for families, business travelers and long-term visitors. Uptown Suites will be managed by InTown Suites, an owner-operator of extendedstay properties in 188 locations in 22 states with more than 24,000 rooms. With the launch of Uptown Suites through a controlled affiliate, Starwood Capital strives to meet the increasing demand of value-conscious extended-stay guests by offering economy-priced apartment-style lodging featuring amenities commonly associated with mid- and higher-level hospitality brands. "We are thrilled to launch Uptown Suites as we deepen and expand our commitment to provide an extended-stay experience for our guests that has all the comforts of home," said Jonathan Pertchik, InTown Suites Chief Executive Officer. "Demand for value-oriented extended-stay lodging continues to rise and guests are increasingly seeking a hospitality experience that is pedestrian-friendly and walkable, with high-quality amenities and warm customer service. Uptown Suites aims to transform the economy extended-stay experience for our guests." Uptown Suites properties will feature upscale amenities for guests on an economy budget, including lobbies furnished with curved televisions and large fireplaces, full kitchens with quartz countertops, electric vehicle charging stations, and apartment-like studio suites with high-speed wireless Internet connections, high-definition smart televisions and Keurig coffee machines. The first Uptown Suites location has opened in Concord, N.C., and the company anticipates that future properties will primarily be newly built facilities that are walkable to dining, retail and entertainment opportunities for guests. Uptown Suites locations will be selected for their proximity to great cities or in central locations in smaller markets, and expansion will be concentrated in regions with strong job growth and forecast population growth. More than 10 Uptown Suites properties are slated to open by 2019, including properties in Colorado, Florida, Tennessee, Texas and Virginia, among other states.
Our new research finds that consumers expect technology to be part of their dining experience, but the human element is still important to them.
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.
Canada'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:
President's pick to head USDA confirmed as Gottlieb, Acosta and Lighthizer each await their turns.
U.S. hoteliers enjoyed a seventh consecutive year of increasing profits in 2016 despite a slowdown in the rate of revenue growth. According to the recently released 2017 edition of Trends® in the Hotel Industry by CBRE Hotels' Americas Research, total operating revenue, driven by a 0.2 percent rise in occupancy and a 2.5 percent growth in average daily rate (ADR), increased by 2.4 percent in 2016 for the average hotel in its survey sample. However, by limiting the growth in operating expenses to just 1.6 percent, managers at the Trends® properties were able to extract a 3.7 percent increase in gross operating profits (GOP) for the year.
Results from STR's 2017 HOST Almanac indicate that U.S. hotel industry revenue and house profit reached all-time highs in 2016. Revenues topped an estimated US$199 billion in 2016, increasing nearly US$9 billion from 2015. Total industry-wide house profit exceeded US$76 billion, a per-available-room increase of 2.0% from 2015. Even though records were set in each category, STR's Consulting & Analytics team notes that growth was much lower than the levels experienced in 2015. House profit increased 4.0% compared with 11.1% in 2015. Total revenues increased 4.5% in 2016 after rising 8.1% in 2015. "Inflation-adjusted revenues topped the previous peak, and real house profit levels were the second-highest we've seen," said Joseph Rael, STR's director of financial performance. "However, in the past year, we've also seen revenue growth slow considerably throughout the country. With RevPAR (revenue per available room) growth forecasted below 3% for the next couple of years, we only expect modest profit increases in the short term."
Older adults are projected to represent a much larger share of the U.S. labor force in the years ahead, and the restaurant industry workforce will likely evolve accordingly.
M&R Hotel Management today announced the appointment of Fran Ramos as general manager of the 88-room Comfort Inn Midtown West at 548 West 48th St., where she has been assistant general manager since 2015.
The ONE Group Hospitality, Inc. (NASDAQ: STKS) today announced that Alejandro Munoz-Suarez (Alex), Chief Operating Officer (COO), and Samuel (Sam) Goldfinger, Chief Financial Officer (CFO), will be leaving the Company to pursue other opportunities. Following the appointment of Manny Hilario to the board of directors last week, board member Richard Perlman notified the Company that he has stepped down from the board.
Our research finds more consumers choosing dining destinations based on whether local and sustainable foods are offered.
After declining sharply in recent years, the recent uptick in teen labor force participation could help ease some of the industry’s staffing challenges.
Whether it involves seating, time of service or access to technology, consumers say they want more choice when they dine out.
Park Hyatt New York, the global flagship property of the Park Hyatt Brand, is proud to unveil the acquisition of Swarm Study / XI, anchoring the hotel's existing collection of 350 gallery-worthy pieces, including 10 specially commissioned for the property. The installation of Swarm Study / XI, located in Bevy, the property's signature restaurant, marks Park Hyatt New York's continued dedication to premier contemporary art and the brand's commitment to offering guests a thoughtful, extraordinary hospitality experience.
The U.S. hotel industry reported negative results in the three key performance metrics during the week of 9-15 April 2017, according to data from STR. Opposite from previous weeks, performance growth was negatively affected by the Easter calendar shift from 27 March 2016 to 16 April 2017. In comparison with the week of 10-16 April 2016, the industry reported the following:
Set 34 miles off the coast of North Carolina at the southernmost edge of an area known as the “Graveyard of the Atlantic”, guests at the remote 85ft-high Frying Pan Tower enjoy panoramic views of the ocean from the hotel’s 80ft by 80ft helipad.
InterContinental Hotels Group (IHG), one of the world's leading hotel companies, announces the opening of the new-build 153-room Holiday Inn® Hotel & Suites Bellingham hotel in Bellingham, Washington. The hotel, which is located steps away from Bellingham International Airport, is the first Holiday Inn property to open featuring the brand's new H4 design, which was developed in collaboration with Holiday Inn hotel owners and frequent guests to meet the changing needs of modern leisure and business travelers.
The most populated state in the U.S. continues to see growth in the hotel industry in two key areas, the San Francisco Bay Area and the metropolis of Los Angeles. With 15 new hotels currently in progress, California's hotel market is set to expand over the course of this year and next. Following on from the announcement of new partnerships in the Silicon Valley by Kimpton Hotels and Restaurants and a recent opening by Pendry Hotels in San Diego, both as reported by TOPHOTELNEWS, southern and northern California look set to maintain this pace of development.
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: