HOTELSMag.com - 10 Minutes News for Hoteliers - Page 46

3 min

West Virginia’s Justice in battle to keep The Greenbrier, cites political motivation

🏦 West Virginia Governor Jim Justice's luxury resort, The Greenbrier, faces auction on August 27th amid unpaid debts. Located in White Sulpher Springs, W.Va., the resort features 700-plus rooms, four golf courses, a casino, a medical spa, and is staffed by thousands of local workers. The Justice family pledges to fight the sale, following JPMorgan's loan sale to Beltway Capital and subsequent default declaration. The resort was purchased by Justice in May 2009, after CSX Corporation filed for bankruptcy. Governor Justice, in office since 2017, is also running for a U.S. Senate seat in 2024.

4 min

How to decrease hotel costs through greater operational efficiency

🏨 Post-pandemic hotels and resorts face increased costs in labor, energy, food, and supplies, with service levels challenged by worker shortages. Prior stability from 2011's economic recovery has been disrupted, leading to cuts in services like daily room cleaning and customer desk services. Key profitability strategies for 2024 include competitive vendor bidding, joining purchasing groups, and focusing on energy use. Energy costs have spiked in the last 36 months, urging hotels to implement preventative maintenance and energy management systems. Operational efficiency and guest services can be restored by incentivizing staff, investing in training, and applying industry best practices. Jeff Brainard, VP at Southern Management Companies, emphasizes cost containment through efficiency for long-term success.

6 min

Parking and EV stations charge U.S. hotel performance

🏨 From 2019 to 2023, U.S. hotel parking revenues surged by 23.1%, with CBRE's sample showing a profit margin of 61.3%. Hotels averaged 283 rooms, a 69.7% occupancy rate, and a $237.48 average daily rate. Resort hotels led parking revenue per-occupied-room (POR) at $14.85, while limited-service hotels recorded $8.35. The overall parking profit increase was 32.3%. 22.3% of CBRE-tracked hotels reported parking revenue in 2023, up from 17.0% in 2019, and 26.6% of U.S. hotels had EV charging stations as of 2022.

3 min

Briefs: Hyatt debuts in Belize; Princess Hotels’ resorts in Jamaica

🏕 Hyatt collaborates with Maya Rio Development for Belize's first Hyatt-branded hotel: The Placencia Resort to join Destination by Hyatt and World of Hyatt in late 2025 after a $10 million renovation, featuring 90 rooms, suites, beachfront villas, and new dining spaces. Princess Hotels & Resorts to open two resorts in Jamaica's Green Island in September, Princess Senses The Mangrove with 401 suites and 14 over-water villas, and the family-friendly Princess Grand Jamaica with 590 suites. Hotel Balzac, owned by Olivier Bertrand, opens in Paris featuring 58 rooms, a three-Michelin star restaurant, and will later add a Japanese-inspired spa. HEI Hotels & Resorts adds The Westin Dallas Downtown to Texas portfolio, now managing 15 properties in the state.

2 min

U.S. Senate committee approves Hotel Fees Transparency Act

🏨 The U.S. Senate Committee approved the Hotel Fees Transparency Act on July 31; full Senate vote pending. The bill, introduced by Sens. Amy Klobuchar and Jerry Moran, aims to require clear display of mandatory fees in hotel bookings, following the U.S. House's approval in June. AHLA reports only 6% of U.S. hotels charge an average mandatory fee of $26/night. Hyatt faced lawsuits in 2023 for hidden fees, while Marriott agreed with Texas to display "resort fees" prominently. Hilton is also enhancing fee transparency.

5 min

China trouble drags down Marriott Q2 performance and beyond

🏨 Following the severe impact of COVID-19, China's hotel industry was the first to show a rebound due to its zero-COVID policy. Marriott International saw its global revenue per available room (RevPAR) increase by 3-4% in 2021 despite a 4% decline in Mainland China. In the second quarter, Marriott's global RevPAR rose nearly 5%, with occupancy reaching 73%. Asia Pacific, excluding China, experienced a 13% RevPAR increase, with Japan up 21%. Marriott's group business comprised 24% of worldwide room nights, and leisure transient accounted for 43%, with a 2% RevPAR rise. Marriott's loyalty program Bonvoy reached over 210 million members. Marriott added 15,500 net rooms in the second quarter, reaching around 1.6 million rooms globally, and expects a 5.5% to 6% net room growth for the year. Conversions accounted for 37% of Marriott's openings and 32% of signings. The company plans to spend approximately $1.2 billion on technology and other investments in 2024.

3 min

Asia Pacific hotel deals grew in tandem with resurgence of tourism: JLL

Hotel transactions grew in tandem with the uptick in tourism across Asia Pacific in the first half of the year, the latest data and analysis by JLL revealed. Hotel deals…

2 min

Briefs: Arlington Hilton Garden Inn sells; The Newberry Hotel rebrands

🏨 Highline Hospitality Partners acquired Hilton Garden Inn Courthouse Arlington Courthouse Plaza, marking its first property in the Washington, D.C. metro area and expanding its portfolio to 12 hotels with 3,400 keys. The hotel has 193 rooms, was built in 2002, and recently renovated, featuring a restaurant, fitness center, 3,000 square feet of meeting space, and an underground garage. Stepstone Hospitality will manage the hotel. Resolute Road Hospitality rebranded The Newberry Hotel in Bend, Ore, formerly a DoubleTree by Hilton. Choice Hotels International opened four Cambria Hotels across the U.S., with locations in Denver, Niagara Falls, North Conway, and Rehoboth Beach, bringing the chain's total to over 70 U.S. hotels. Hotel Yellowstone at Jackson Hole, an adults-only resort with 36 suites over 4 acres, opened, offering views of the Teton Mountain Range and Snake River Valley.

3 min

Briefs: Mandarin Oriental resort, residences in Bali; Super 8’s special room rate

🏠 Mandarin Oriental to manage a new luxury resort and residences in Bali, opening in 2027, featuring 110 suites and villas with panoramic views of the Indian Ocean and a variety of amenities including a beach club and sustainability lab. 🎉 Super 8 celebrates its 50th anniversary with a throwback $8.88 room rate for 888 room nights starting August 8, following a $140+ million brand overhaul. 🛌 Marriott’s HotelHelp pilot donates emergency rooms in 5 U.S. cities to support human trafficking survivors, aiming to reach 25 North American cities by 2025 and expand globally. 🏨 IHG appoints 1508 to design three hotels in Nepal, adding nearly 500 rooms to its portfolio, with openings expected within two years.

2 min

Briefs: Marriott Hotels ventures into all-inclusive space; StandardX to open inaugural hotel

🏡 Marriott Hotels debuts in the all-inclusive market with Marriott Cancun, featuring 124 ocean view rooms, 38 suites, 13 dining venues, a water park, and a 5,000-square-foot kids' club in Mexico. More all-inclusive resorts to open in Puerto Vallarta, Mexico, and Djerba, Tunisia by 2025. The StandardX Melbourne launches on August 8 in Fitzroy with 125 rooms and three dining options; it's the first under the StandardX brand by Standard International. Preferred Hotels & Resorts adds 30 new properties, including the 30-key Boutique Hotel Stresa in Italy and the 80-suite Casa Velas Puerto Vallarta in Mexico. Coral Sands Hotel on Harbor Island, the Bahamas, undergoes renovations with a December reopening, managed by Chorten Wangyel and owned by AJ Capital Partners which has $5.3 billion in assets over 100 properties.

Input your search keywords and press Enter.