LODGING Staff - 10 Minutes News for Hoteliers - Page 132

2 min

Viceroy Shares First Phase of Global Brand Relaunch

🏙 Viceroy announced a global brand relaunch in New York to reposition as a travel authority, focusing on storytelling and immersive guest experiences. Jessica Luzzi, the senior vice president of brand marketing, highlights the importance of authentic cultural experiences for luxury travelers. The relaunch introduces refreshed branding, digital platforms, and new logos symbolizing each property's culture. The Viceroy at Ombria Algarve opened on October 1, 2024, in the Eastern Algarve with 141 guestrooms, six restaurants, a spa, and a golf course. Upcoming guest experiences include glass blowing and surfing, alongside wellness programs linked to local culture.

1 min

Fairfield Inn and Suites Bay City Texas Joins Dimension Hospitality’s Managed Portfolio

🏨 In Fort Lauderdale, Florida, the 79-room Fairfield Inn and Suites Bay City Texas has been added to Dimension Hospitality's managed hotel portfolio. The property features a heated outdoor pool, complimentary breakfast, WiFi, and a lobby space. Dimension Hospitality, specializing in Marriott branded hotels, aims to leverage their expertise and regional knowledge for the property's long-term success. The hotel, catering to both business and leisure travelers, is located near downtown Bay City with proximity to Matagorda Beach, Rio Colorado Golf Course, and several companies like STP, Tenaris, OXEA, Phillips 66, and Equistar, as well as Matagorda County Museum and the regional medical center.

1 min

Hotel Investor Apps Enters Partnership With Tascoli

🏢 Hotel Investor Apps (HIA) partnered with Tascoli to offer its ERP solution for hotel financial management in the U.K. market. This collaboration aims to enhance financial accuracy and productivity for hotel owners and managers through features like real-time hotel intelligence tools, automated workflows, and customizable reporting. CEOs James Morgan (Tascoli) and Charlie Fritsch (Hotel Investor Apps) express their commitment to optimizing hotel operations and meeting the sector's demand for integrated data solutions.

2 min

AHLA: Hotels Remain Top Lodging Choice for Leisure and Business Travelers

💸 In a survey by the AHLA and Morning Consult, 52% of U.S. travelers plan leisure trips in the next four months, with hotels being the preferred accommodation for 45% of leisure and 59% of business travelers. For Thanksgiving and Christmas, 32% and 34% of U.S. travelers are likely to travel overnight, respectively. Inflation may affect travel plans, with 56% saying it could reduce hotel stays. The survey, conducted from Sept. 30 to Oct. 2, 2024, included 2,201 U.S. adults. Key amenities for guests include high-speed WiFi, with 63% prioritizing it.

2 min

Amadeus Reports Q3 2024 Financial Results

📈 Amadeus reported Q3 2024 financial results: Air distribution revenue grew by 10% to €2,230.5M; Air IT solutions revenue up 16.2% to €1,636.2M; Hospitality and other solutions revenue increased 12.9% to €733.9M; Group revenue rose 12.6% to €4,600.6M; EBITDA expanded by 13.3% to €1,806.3M; Operating income surged 16.9% to €1,314.8M; Adjusted profit climbed 17.4% to €1,028.2M; Free cash flow reached €975.2M, a 7.3% increase; Net financial debt stood at €2,511.0M or 1.09 times EBITDA on September 30, 2024.

1 min

Mesa West Capital Provides Loan to Refinance Thompson Savannah

🏠 Joint venture led by Regent Partners and Mariner Group refinanced Thompson Savannah, a luxury hotel, with a $50 million short-term first mortgage from Mesa West Capital. The loan replaces the initial construction loan for the 193-key hotel, opened in August 2021. Located at the Savannah River’s southern bank, the Thompson Savannah offers a restaurant, bakery, bars, pool, fitness center, and 11,000 square feet of meeting space. Since its opening, the hotel has shown growth in occupancy, RevPar, and ADR. Financing was arranged by Berkadia’s Hotel and Hospitality Group in New York.

2 min

Courtyard by Marriott Reno Sparks Opens

🏠 Galaxy Hotels Group, located in Frisco, Texas, opened the Courtyard by Marriott Reno Sparks in northern Nevada, featuring 127 rooms and suites. This four-story hotel is the company’s sixth in Nevada and is near the Tahoe Reno Industrial Center. The hotel offers various amenities including a 1,700-square-foot fitness center, The BISTRO, an outdoor courtyard, and 845 square feet of meeting space. Galaxy is an approved Marriott International franchisee and operates hotels across nine U.S. states.

3 min

CBRE: Commercial Real Estate Lending Improved in Q3 2024

🏢 In Q3 2024, Dallas, Texas saw a 13% quarter-over-quarter and 15% year-over-year increase in commercial real estate lending, with the CBRE Lending Momentum Index hitting 214. Average spread on closed loans was 183 bps; multifamily loans tightened to 168 bps. Life companies led non-agency loan closings with 43%, followed by alternative lenders at 34% and banks at 18%. CMBS issuance reached $29 billion, tripling year-over-year. Government agency lending on multifamily assets rose 40% to $28 billion, with the Agency Pricing Index at 5.8%.

1 min

5 Products to Enhance Operations and Guest Offerings

🚿 Actabl launched Alice Housekeeping Refresh in September, introducing Advanced Auto-Assign, Credit Rules, Room Attendant Daily Summary, Guest Preferences & Ticket Automation, and Do Not Disturb by Automation to automate and manage daily housekeeping tasks. More at actabl.com.

2 min

Cendyn: Phoenix Ranks as Top Market Selected by Meeting Planners

🏢 Phoenix, Arizona led the top 25 markets in year-over-year growth at 19.7% according to Cendyn's Sales Intelligence, with Las Vegas, Nevada close behind at 17.7%. The data from October 2024 showed Phoenix's event volume growth driven by sectors like national association, technology, healthcare, and financial/banking, with an average event size of 5,612 square feet and 174 attendees. Secondary markets showed significant growth with South Michigan at 99.2% and Kauai, Hawaii at 72%, with the former likely boosted by football-related activities and the latter by weddings among other events. The top secondary markets had an average space usage of 3,841 square feet and an average of 128 attendees per event.

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