Hotel Business News - North America.
Global hotel Local input is vital to managing global brands. Global hotel chains should make sure to align each property's operational strategies with the specific investment and consumer environment in its geographical region, said several executives during the 35th Annual New York University International Hospitality Industry Investment Conference. Kirk Kinsell, InterContinental Hotels Group's president of the Americas, says his company's decision-making is heavily influenced by guest input. "The first and most important aspect of our company is drawing insights from guests and aligning those insights with each brand and its positioning and how that brand will serve those (guests') needs," Kinsell said. Jun 10, 2013
Hilton Hotels Hilton on track to regain industry lead, CEO says. Hilton Worldwide's steady international growth and reoptimized organizational structure is proof that the company is well on its way toward recovering its leadership position in the global lodging industry, Hilton President and CEO Chris Nassetta said during the Bisnow Lodging Investment Summit in Washington. The hotel chain has more than 650,000 rooms in nearly 4,000 hotel properties in its global portfolio. "We've had very good success in this last five or six years. We've not only grown the company at a very fast pace, but we've changed the profile of our growth," Nassetta said. Jun 15, 2013
Holiday Inn Holiday Inn Manhattan is sold for $121.4 million. Carey Watermark Investors has purchased the 226-room Holiday Inn Manhattan 6th Avenue hotel in New York for about $121.4 million. The sale price includes $8.4 million in acquisition-related costs and investment in property renovations. Carey Watermark secured $80 million in debt to finance the acquisition. Jun 12, 2013
Host Hotels Host Hotels buys Hyatt Place hotel in Hawaii for $138.5 million. Host Hotels & Resorts has announced its acquisition of the fee-simple interest in the Hyatt Place Waikiki Beach in Honolulu. The purchase price was $138.5 million. The 426-room property will remain under management by Kokua Hospitality. Jun 14, 2013
Hyatt Hotels Hyatt Fisherman's Wharf in San Francisco is sold for $103.5 million. Chesapeake Lodging Trust has acquired the fee simple interest in the Hyatt Fisherman's Wharf in San Francisco for $103.5 million. Evolution Hospitality will take over management of the hotel. The 313-room property is expected to undergo renovation in the fourth quarter of 2014. Jun 12, 2013
Marriott International Marriott to Introduce AC Hotels in the Americas. Marriott International is bringing its AC Hotels brand to the U.S. and Americas to fill what it believes is an industry void among millennial consumers. The brand, which currently has a portfolio of 79 hotels in Spain, Italy, Portugal and France, will launch in such metropolitan markets as New York, Miami and San Diego, said Brian King, global brand officer, Marriott Endorsed Brands. OThe millennial guest is looking for an urban vibe and feel,O he said. The first hotel will open no later than the fourth quarter of next year, with a first market announced within 90 days. Marriott recently completed a yearlong study whose results uncovered that millennials are collaborative, communal and design conscious. OThey think good style and design is for the masses,O said King, adding that it AC Hotels fills such a niche. The brand will feature a decidedly Spanish design element with curated, crafted, communal lobbies boasting tone-on-tone palettes. OI think the AC Lounge will definitely be unique,O said King, Owith small plates and a limited but great selection of wines.O Guests can work or relax in the library, which doubles as a business center. AC Hotels by Marriott, an upper moderate tier lifestyle hotel brand, was launched in 2011 as a joint venture between Marriott International and Spanish group AC Hotels, which was founded in 1998 by Antonio Cataln. OBy importing AC Hotels by Marriott into the U.S., we believe we can increase MarriottOs overall market share among younger business travelers who make three or more business trips a year, representing a total market size of $31 to $35 billion,O said King.There are currently five AC Hotels by Marriott in the companyOs global development pipeline, and Marriott said there is strong interest among owners in developing the brand in the North and South America. Jun 15, 2013
Morgans Hotel Morgans: Strategic Alternatives Could Include Sale of Company. Morgans Hotel Group has opened the window for a sale. In a prepared statement, the company said its slate of director nominees intends to initiate a process to explore strategic alternatives, including a sale of the company, upon re-election at the companyOs annual stockholdersO meeting on June 14. The announcement was made in response to feedback from the companyOs stockholders and the recent receipt of unsolicited expressions of interest to acquire MorgansO from five potential strategic buyers. In the statement, the company said there is no assurance that this process of exploring strategic alternatives, if our boardOs director nominees are elected, will result in MHG changing its business plan, pursuing a particular strategic alternative or transaction or completing any such strategic alternative or transaction. Just days ago, OTK issued a letter advocating the election of seven independent board of directors at the annual stockholdersO meeting June 14. OWe urge you to focus on the facts,O the letter said. "The companyOs May 29, 2013 stockholder letter and May 30, 2013 presentation make the same tired, un-kept promises and lack comparative peer analysis, historical performance, or an SG&A discussion.O Morgans sent a letter to shareholders urging them to reject OTKOs proposed slate of independent director nominees. The dispute between Morgans and OTK, the companyOs largest shareholder, began in April when Morgans signed agreements with The Yucaipa Companies to cancel YucaipaOs interests in the companyOs convertible notes, preferred stock and stock warrants in exchange for its ownership interests in Delano South Beach and The Light Group, a Las Vegas nightclub operator that it acquired in 2011. Jun 14, 2013
Morgans Hotel Morgans Hotel Group Pledges to Initiate Sale of the Company. Morgans Hotel Group reiterated its pledge to initiate a sale of the company if its board of directors is re-elected at its annual shareholder meeting on June 14. Morgans is contending with a proxy fight from OTK Associates, its largest shareholder. The dispute between Morgans and OTK began in April when Morgans signed agreements with The Yucaipa Companies to cancel YucaipaOs interests in the companyOs convertible notes, preferred stock and stock warrants in exchange for its ownership interests in Delano South Beach and The Light Group, a Las Vegas nightclub operator that it acquired in 2011. Yucaipa said in an SEC filing that it will not bid for the company and announced its support for MorgansO board. Jun 11, 2013
Starwood Hotels Starwood to strengthen Le Mridien portfolio with $1B investment. Starwood Hotels & Resorts says its upscale Le Mridien hotel brand will receive an additional $1 billion investment to boost its portfolio growth across the globe. "Le Mridien is poised for expansive growth in primary cities and resorts around the globe, and we're continuing to see increased interest among owners, especially around conversions," said Simon Turner, Starwood's president of global development. Jun 14, 2013
The Shakopee Tribe offers funding for planned hotel in Mall of America expansion. The Shakopee Mdewakanton Sioux Community has stepped forward as a potential investor for a planned 330-room luxury hotel that is part of the next expansion of the Mall of America in Bloomington, Minn. The expansion is expected to include additional dining choices and 150,000 square feet of retail space and will cost an estimated $230 million. Jun 15, 2013
The Suquamish Wash. tribal casino breaks ground on expansion. The Suquamish Clearwater Casino Resort in Washington will break ground on a five-year expansion of the tribal casino today. The first phase of the expansion, slated for completion in November 2014, includes 10,000 square feet of meeting space and a parking garage. The addition of a 100-room hotel, expected to be finished in March 2015, is the second phase. Jun 14, 2013
Virgin Hotels Virgin Hotels unveils growth plans. Virgin Hotels has announced plans to open a 300-room property in New York by 2016. Raul Leal, Virgin's CEO for North America, also revealed some of the group's other target markets in the U.S., including Los Angeles, Washington, San Francisco and Dallas. Globally, Virgin Hotels is watching Paris, London and Spain for expansion opportunities, Leal says. Jun 14, 2013
Virgin Hotels Virgin Hotels to Open New York Property in 2016. Richard BransonOs Virgin Hotels plans to build a 300-room hotel in the NoMad section of Manhattan at the northwest corner of 29th Street and Broadway. An opening date is slated for 2Virgin Hotels to Open New York Property in 2016016. A Chicago hotel will open its doors during the second quarter of 2014. Its pipeline of hotels includes Los Angeles, Miami, San Francisco, Dallas, Washington and London. OWe are delighted to enter the New York market and specifically to play a part in continuing the NoMad neighborhoodOs growth as a dynamic destination,O Virgin Hotels CEO Raul Leal said. OVirginOs 60 million global customers canOt get enough of New York City, and we hope to welcome them all with our trademark style, humor, innovation, and friendly customer service.O The Lam Group will manage the New York hotel. Lam Group founder and CEO John Lam said the property will include a block of high-end retail space. OAs a newcomer to the lifestyle concept, we spent years considering many brands and operators and feel we have found a perfect partner in Virgin,O he said. OWith Virgin as our partner, we are confident that we can deliver a hotel and nightlife space that exudes energy, style and individuality in spades.O Added Virgin Group founder Richard Branson: OAt long last, the city that never sleeps will get a beautiful and irresistible Virgin Hotel to play, eat, work, mingle, and yes, even to sleep.O Jun 14, 2013
Virgin Hotels Virgin Hotels in talks for hotels in Dallas, San Francisco. Virgin Hotels says negotiations are underway to open properties in San Francisco and Dallas. "For awhile we weren't active in development, as we were working on product. We became more active last year and the pipeline is starting to ramp up significantly," said Raul Leal, CEO of Virgin Hotels. Jun 10, 2013
Wyndham Hotel Wyndham Hotels to launch Super 8 brand in Turkey. Wyndham Hotel Group has announced the entry of its Super 8 budget hotel brand in Turkey. The hotel chain expects to open 20 Super 8 hotels in Turkey over 10 years through a new development agreement with Ilbak Turizm Isletmeleri Ve Yatirim. Jun 15, 2013 AirGuideBusiness ISSN 1939-666X Copyright [c] 2013 AirGuide Business / Pyramid Media Group. All rights reserved.
Editorial eMail: edit@AirGuideOnline.com For Advertising and Marketing: advert@AirGuideOnline.com For Custom Content and Content Solutions: content@AirGuideOnline.com Air Transport & Travel Business Analysis contact our Director of Content Aram Gesar eMail: bizintel@AirGuideOnline.com ISSN 1939-666X - Copyright [c] 2012 AirGuideBusiness / Pyramid Media Group, Inc. All rights reserved.
|Printer friendly Cite/link Email Feedback|
|Article Type:||Conference notes|
|Date:||Jun 17, 2013|
|Previous Article:||Hotel Business News - Europe.|
|Next Article:||Hotel Business News Alert - North America.|