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TEXAS VOTERS APPROVED Proposition 4, a constitutional amendment reducing property taxes this year. AAHOA and the Texas Hotel & Lodging Association, which collaborated to support the amendment, said Proposition 4 ensures property tax relief for commercial hotel properties. The amendment allocates $12.6 billion in state funds for public education, lessening reliance on local property taxes, according to AAHOA. Moreover, it raises the Texas franchise tax exemption from $1.24 million to $2.47 million, providing businesses with tax relief, and caps appraisal values for commercial properties under $5 million. Proposition 4 was passed with over 83 percent of the vote, emphasizing to legislators the priority of reducing property taxes.

ACCORDING TO THE March 2022 edition of CBRE's Hotel Horizons national forecast report, the total revenue for a typical U.S. hotel is not expected to return to pre-COVID 2019 nominal dollars until 2023. Accordingly, hotel owners and operators continue to seek ways to control expenses, and that can include property taxes. One potential reduction opportunity is property taxes, according to an article from Robert Mandelbaum, director of research information services for CBRE Hotels Research, and Mark Whitney, managing director of CBRE's Property & Transaction Tax Services platform. Based on a sample of 3,400 hotels from CBRE's Trends in the Hotel Industry database, U.S. hotel property tax expenditures declined by 13 percent from 2020 to 2021. This decline put 2021 property taxes 9.9 percent below 2019 levels. Unfortunately, this compares unfavorably to the 41.3 percent decline in revenues and 57.4 percent falloff in profits during the same period. For this analysis, profits are defined as earnings before interest, taxes, depreciation, and amortization, or EBITDA. Relationship to Profits Compared with other forms of real estate, hotel financial performance is relatively volatile. Because of the lack of long-term leases, hotel revenues and profits will react almost instantaneously to changes in the economy. This was evident during 2020 when we observed a sudden 64.3 percent drop in revenues along with a 109.4 percent decline in EBITDA in reaction to the pandemic.

IDEAS HAS LAUNCHED the G3 RMS Portfolio Navigator for automating multi-property revenue management. The tool analyzes business and market trends to identify revenue opportunities and necessary actions, while streamlining strategy decisions for individual properties and enabling swift responses to market changes for optimal revenue generation, IDeaS said in a statement. "IDeaS is committed to ensuring our customers, regardless of size, have the tools they need to become more efficient and productive," said Sanjay Nagalia, IDeaS' cofounder, COO and chief technology officer. "The addition of Portfolio Navigator to our flagship product, G3 RMS, is a game changer for multi-property revenue management. It helps teams highlight suboptimal business or system conditions by property, prioritize tasks with the highest revenue impact, display outstanding revenue tasks by individual property and scale revenue operations and brand contribution. This functionality helps revenue management leaders turn insights into impactful commercial actions at scale."

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WHEN IT COMES to growing hotel revenue, size does not matter. Economy hotels and micro-inventory properties are experiencing one of the biggest booms in recent years, thanks partly to a massive resurgence in small group travel, changing economic trends, and the staying power of global "return to travel". CBRE noted economy and midscale hotels recovered to 2019 performance levels by 2021, and properties with fewer rooms may benefit from lower operating costs when compared to their big-box brethren-though they also tend to have fewer resources with which to hire revenue professionals. Revenue managers are driving the charge for better operating returns. Many are taking the lessons they learned from their success at larger hotels and applying these truths to the industry's smaller properties. These revenue managers leverage new technology and strategies, options that small hotels with smaller, cross-functional staff haven't fully embraced. However, competition among economy hotels and properties tends to be fierce, requiring new action, especially with recent economic pressures and a downward 2023 RevPAR forecast of 0.2 percent in recent data shared by Tourism Economics . Modern revenue management practices and technology can provide these hotels with many benefits and significant competitive advantages. Small hotels need to avoid the erratic rate shifts of the past and capitalize on new trends as they emerge. By embracing strong revenue management systems and discipline in these properties, operators can realize greater control over a typically inconsistent space. Room Enough for Revenue The most common misconception about revenue management's place in hospitality is that it is the domain of large or full-service hotels. This is simply not the case today. No two hotels are the same, in practice, with key differences always existing between the layout of a property, its location, third-party partnerships, and so on. Every hotel has different r

BPR PROPERTIES HAS selected LBA Hospitality to assume full management responsibilities for its complete portfolio of hotels. The company's 16 hotels are already managed by the Alabama-based hospitality management firm, with six properties added in the last three months. BPR is led by Birju Patel as president and CEO Bhupen Patel. "Making the decision to transition to third-party management was not an easy one," said Bhupen Patel. "However, when considering LBA Hospitality's associate-focused culture, commitment to training and their demonstrated development of leaders, the choice to have them assume full management responsibilities for our properties was an easy one. Their well-established partnership with us, continuous focus on associate retention and education, and dedication to delivering exceptional guest experiences align perfectly with our values. This transition will allow our team to shift our focus towards new hotel development and enhancing our existing properties."

ATLANTA-BASED HOSPITALITY Lodging Systems has added two Budgetel Inn & Suites and two Haven Hotel properties to its portfolio, according to HLS. Currently, there are 37 Budgetel hotels with 3,813 rooms operating in 10 states plus China and 12 Haven Hotels with 698 rooms in nine states. Both the Budgetel hotels are in metro Atlanta, a 218-room conversion former Clarion, located on the north side of the city and a 121-room property in suburban Lilburn. The new Haven Hotels are 50-all suites, boutique property in the Atlanta suburb of Marietta and a 130-room property in Hazelwood, Missouri, a statement said. "Our brands are attracting owners who want to lower costs and boost profits, especially as our industry struggles to recover from two years of pandemic slowdown," said Doug Collins, chairman and CEO of HLS. "Among the most popular features of our contract are unlimited free online reservations, fewer mandated amenities, and an annual exit opportunity."

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NEWCRESTIMAGE HAS SOLD most of its hotel portfolio, along with some other properties, in a $822 million transaction with Summit Hotel Properties. Dallas-based NewcrestImage will remain invested in Summit and will own and operate two historic hotels it recently acquired and plans to make new acquisitions in the future. The definitive contribution and purchase agreement includes 27 hotels with 3,709 guestrooms for $776.5 million, or $209,000 per key. It also includes $24.8 million for two parking structures and $20.7 million for the various financial incentives through Summit's joint venture with Singapore-based sovereign wealth fund GIC, made in 2019 to acquire hotels in the U.S. "NewcrestImage has assembled a collection of high-quality distinctive Marriott, Hilton, Hyatt, and IHG hotel properties throughout the Sun Belt region, which will be a great addition to Summit's portfolio," said Mehul Patel, NewcrestImage's managing partner and CEO. "As we will become one of Summit's largest shareholders, we have confidence in Summit as one of the industry's leading owners with a highly regarded public platform. We believe the two portfolios create an excellent combination of hotels that have tremendous growth potential and are well-positioned to create long-term shareholder value as the lodging recovery continues."

STAYNTOUCH, A CLOUD-BASED hotel property management software developer, recently deployed its PMS at 139 Cobblestone Hotels locations in 90 days. Cobblestone has more than 160 properties across 29 states. The PMS streamlines operations, improves efficiency and speeds up property setups with template configurations, according to Stayntouch. It also enhances revenue and occupancy through an integrated rate strategy module and provides products to manage operations, drive revenue and support guest services. "At Stayntouch, we understand the challenges faced by hotel chains like Cobblestone, which is why we've tailored our solutions to meet their needs," said Jacob Messina, Stayntouch's CEO. "This collaboration reflects our commitment to delivering solutions that enhance operations and drive revenue for owners and operators. We focus on understanding their needs, delivering consistently, and building trust as a reliable partner."

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NEWCRESTIMAGE RECENTLY ACQUIRED the TownePlace Suites by Marriott Dallas Las Colinas in Irving, Texas. It is the most recent acquisition for the Dallas-based investment firm led by Mehul Patel as managing partner and CEO, and the company plans to fully renovate the property, which opened in 1998 and was last renovated in 2014. The 3-floor, 135-suite property offers three types of guestroom: studio, one-bedroom, and two bedroom, according to NewcrestImage. It is near two major airports, Dallas Fort Worth International Airport and Love Field, and two major convention centers, the Irving Convention Center and the Gaylord Texan Convention Center. Amenities at the hotel include a fitness center and an outdoor pool. "This extended-stay property is in the heart of a high-traffic corridor that's a popular destination for both corporate and leisure travelers," Patel said. The acquisition of the TownePlace Suites is important to Marriott, said Loren Nalewanski, the company's vice president franchising for the Element, Residence Inn, Fairfield, TownePlace and SpringHill Suites brands. "Our industry is built on strong partnerships between brands and owners," Nalewanski said. "This acquisition enhances the long, valued, and successful partnership between Marriott and NewcrestImage, which has owned and operated 30 Marriott-branded properties since 2013."

MARRIOTT INTERNATIONAL RECENTLY picked the Agilysys point-of-sale platform, InfoGenesis, as an option for its hotels throughout the U.S. and Canada. Marriott's luxury, premium and select tiers hotels in both countries can now use the platform for guest-facing and staff-facing operations in F&B, retail and activity centers at each property. Agilysys is led by CEO Ramesh Srinivasan. InfoGenesis consolidates guest and staff purchasing transactions onto a single comprehensive cloud platform tailored for the hospitality industry, Agilysis said in a statement. InfoGenesis POS integrates with Marriott property management systems, furnishing front desk operators with detailed POS transactional information aimed at enhancing operational efficiency. "Marriott International is a globally admired organization and we look forward to offering properties across the U.S. and Canada the opportunity to leverage our enterprise-grade InfoGenesis omnichannel point-of-sale technology platform," said Srinivasan.

SSN HOTELS, A Delaware-based hotel management and ownership company, recently acquired its 31st property, the Residence Inn Atlantic City Airport/Egg Harbor Township in New Jersey. A full renovation of the property, set to begin at year's end, will focus on upgrading guest amenities, SSN Hotels said in a statement. SSN Hotels is led by co-founders Peter Bhai as CEO and Pinky Bhai and president. "We are excited to expand our presence in the Atlantic City area and look forward to transforming this property into a premier destination for business and leisure travelers alike," said Peter Bhai. "This renovation will allow us to offer an even more exceptional stay for our guests while continuing to grow our portfolio." SSN currently operates 31 hotels across five states-New Jersey, Pennsylvania, Virginia, Delaware, and Florida-with seven more in development, according to its website. It owns and manages properties under brands from Hilton Hotels & Resorts, Marriott International, IHG Hotels & Resorts, Red Roof and Wyndham Hotels & Resorts.

NEWCRESTIMAGE IS EXPANDING its portfolio of luxury full-service properties with the addition of The Beeman Hotel in Dallas, which has 296 guestrooms and suites across nine floors. Coury Hospitality will manage the property, NewcrestImage said in a statement. NewcrestImage is led by Mehul Patel, managing partner and CEO. The Beeman Hotel, fully renovated in 2021, features a heated indoor pool, a 24-hour fitness center, 12,000 square feet of flexible conference space, a lounge with video games, and the Seely Mill restaurant, the statement said. The property is adjacent to Southern Methodist University (SMU) and the George W. Bush Presidential Library, and is less than six miles from the Kay Bailey Hutchison Convention Center, the 20,000-seat American Airlines Center, Love Field and NorthPark Center. "The Beeman is a very high-quality property that offers tremendous upside potential to help drive our ambitious growth goals," said Patel. "To further and fully optimize this hotel's value and profits, we intend to rebrand in the high-end upscale category."

HIHOTELS BY HOSPITALITY International, a franchiser of economy hotels, rolled out a rewards-based property recognition program, "Best of the Best," on Jan. 20 to highlight top-performing inns, hotels, and suites across the hihotels system. The company is offering incentives, revenue-generating tools and cost-saving opportunities to participating properties. The program aims to improve quality while preserving each property's individuality and fostering business growth, hihotels said in a statement. "We're empowering our properties to be the best they can be," said Chris Guimbellot, hihotels' president and CEO. "Our franchisees value the flexibility to determine what works best for their properties, tailored to their customer base and market, rather than being bound by mandates."

G6 HOSPITALITY INTERNATIONAL Inc. and HotelKey plan to update technology across its U.S. and Canada properties, with HotelKey remaining the core property management system for all Motel 6 and Studio 6 properties. G6, now part of OYO's global portfolio, is led by Ritesh Agarwal as chairman, while HotelKey is led by Aditya Thyagarajan as president. The announcement was made at the Radisson Blu, Nagpur, Maharashtra, in the presence of Nitin Gadkari, India's union minister of road transport and highways, the companies said in a joint statement. "HotelKey's feature set and user-friendly interface have consistently delivered strong results for property owners," said Agarwal, also the founder and CEO of OYO. "Their PMS platform's high adoption rates and positive feedback from hoteliers show why they're the ideal technology partner for our franchisees. HotelKey's success story exemplifies Indian technology excellence, with core development and engineering operations based in Nagpur."

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