Group items tagged

NOBLE INVESTMENT GROUP recently acquired two hotels in Savannah, Georgia. The hotels are the Hampton Inn Savannah Historic District and Holiday Inn Express Savannah Historic District. Chattanooga, Tennessee-based Noble, led by Mit Shah as CEO, acquired the hotels because of their position in Savannah's historic district. The city recently was named Travel + Leisure magazine's No. 3 Top City in the U.S. and included on TIME's list of The World's Greatest Places of 2021. The 7-floor, 143-room Holiday Inn Express has 2,765 square feet of meeting space, a rooftop pool and the Port Royal Tavern in the lobby. The 147-room Hampton Inn has an outdoor pool, a fitness center and a business center. In the historic district, the hotels are near museums, historic landmarks, mansions, and monuments from the Revolutionary and Civil War eras. Both hotels are on East Bay Street across the Savannah River from the Savannah Convention Center and River Street shopping and entertainment area.

AS THE FIRST investment for its recently announced $100 million real estate fund, NewcrestImage has purchased the Magnolia Hotel in downtown Dallas. The company, which is based in Dallas, purchased the historic building from Denver-based Stout Street Hospitality. Opened in 1922 as the headquarters offices for Magnolia Petroleum, the 325-room, 29-floor Magnolia Hotel was the city's first skyscraper and the first high-rise in the United States to have air conditioning. It is listed on the National Register of Historic Places and opened as a luxury boutique hotel in 1999. The hotel is across from the 37-floor world headquarters of AT&T and the $100 million AT&T Discovery District, a shopping, dining and entertainment development. The Discovery District features a 30-foot diameter interactive "walk-in" sculpture and a 104-foot high media wall for watching sports, movies and music events. The hotel features a library, a restaurant, two lounges and 11 meeting rooms, that range from 230 to 3,500 square feet. "Rooted in history and ready to be reinvented for the future - that describes this hotel, and also our entire hospitality industry right now," said Mehul Patel, chairman and CEO of NewcrestImage. "The Magnolia Hotel is an especially relevant and significant opportunity for us because it continues two important corporate commitments - re-energizing downtown Dallas and revitalizing historic buildings."

TWO ASIAN AMERICAN-owned companies are working together to develop a Canopy by Hilton in downtown New Orleans. Baywood Hotels and NewcrestImage are renovating the historic former Oil and Gas Building into a 176-room, 14-floor upscale hotel. Baywood, based in Columbia, Maryland, is led by President Al Patel and Mehul Patel is chairman and CEO of Dallas-based NewcrestImage. The joint venture will update the Oil and Gas Building that was built in 1959 and placed on the National Register of Historic Places in 2014 for its use of glass, steel and abstract geometry in a skyscraper. It is near the city's French Quarter, the Mercedes-Benz Superdome, the Ernest N. Morial Convention Center, the Audubon Aquarium, Harrah's Casino and historic Jackson and Lafayette squares.

Historical locations are largely present in Rajasthan and these locations are widely visited by all the people in the world. The Forts that were built during the reign of the Rajputs are also visited. This is very well arranged by the Tour Operator of Tirupatiholidays. For more details on the tour Packages visit http://www.tirupatiholidays.net/palaces.html

Historical locations are largely present in Rajasthan and these locations are widely visited by all the people in the world. The Forts that were built during the reign of the Rajputs are also visited. This is very well arranged by the Tour Operator of Tirupatiholidays. For more details on the tour Packages visit http://www.tirupatiholidays.net/palaces.html

Enjoy a quick trip, shore excursion, one day sightseeing tour from vessels and ships arriving Alexandria port to Rashid, to visit the most historical and interesting place inside that beautiful city. visit Qaitbey Fortress,resemble of the citadel of Qaitbey in Alexandria, Rosetta National Museum, archaeological houses and ride felucca at the Nile. All is inculded.

THE DEBUT PROPERTY of Vision Hospitality Group's lifestyle The Tribute Portfolio, the Kinley Cincinnati Downtown, is now open in Cincinnati, Ohio. Two more are planned to follow in Vision Hospitality's hometown of Chattanooga, Tennessee, and in Louisville, Kentucky. The 94-room hotel is in the city's Over-the-Rhine neighborhood with nearby attractions including the William Howard Taft National Historic Site, the Cincinnati Art Museum and Cincinnati Music Hall. Vision Hospitality, led by Mitch Patel as CEO, renovated the historic Denton Building, constructed in 1916 by Cincinnati architect Alfred Oscar Elzner, to house the hotel. Kinley Cincinnati Downtown décor features artwork showing local history local art pieces curated in partnership with the Cincinnati Art Underground. It includes the restored mural "Allegro" painted by artist Barron Krody for the 1971 series entitled Urban Walls: Cincinnati.

HAWKEYE HOTELS AND HOS Management recently sold three hotels in the Savannah, Georgia, area for approximately $100 million. Both companies have plans to continue to expand their development pipelines. The Montford Group and Opterra Capital purchased the Aloft Savannah Airport while Mission Hill and KSL Capital Partners bought the Fairfield Inn & Suites Downtown Savannah Historic District and the Aloft Savannah Historic District, according to Hawkeye, which is led by Ravi Patel as president. All three hotels have more than 400 rooms and each were developed by Savannah-based HOS and Hawkeye Hotels in the last 24 months. HOS and Hawkeye together have more than 40 hotel projects in the pipeline, including more than a dozen projects starting construction this year. Both have been actively buying and selling multiple assets in addition to developing new hotels, and last month Hawkeye opened The Le Meridien St. Louis Downtown in St. Louis.

THIRD-PARTY HOSPITALITY management company, Twenty Four Seven Hotels, has opened the 128-room Hyatt House Sacramento/Midtown, a statement said. Twenty Four Seven is led by David Wani as CEO. The adaptive reuse project, owned and developed by Hume Development, Inc., repurposed the former Eastern Star Hall located at Sacramento's art, music and cultural scene. According to the statement, the Romanesque Revival-style building first opened in 1928 as a Masonic women's meeting place and is listed on the National Register of Historic Places. The renovation included the redevelopment of five floors within the original structure, keeping the major architectural features of the historic building intact. "The Hyatt House Sacramento/Midtown is the perfect marriage of the classic and the contemporary, providing the latest amenities and services in a setting that draws heavily from its nearly century-old history to provide a uniquely Sacramento experience," said Amanda Hawkins-Vogel, chief operating officer at Twenty Four Seven Hotels. "This hotel is an extension of our presence in Northern California and marks our first opening this year with two more to come in 2023. As the newest hospitality offering in the city, we expect the Hyatt House Sacramento to quickly take its rightful place as the segment and market leader for business and leisure travelers."

THIRD-PARTY HOSPITALITY management company, Twenty Four Seven Hotels, has opened the 128-room Hyatt House Sacramento/Midtown, a statement said. Twenty Four Seven is led by David Wani as CEO. The adaptive reuse project, owned and developed by Hume Development, Inc., repurposed the former Eastern Star Hall located at Sacramento's art, music and cultural scene. According to the statement, the Romanesque Revival-style building first opened in 1928 as a Masonic women's meeting place and is listed on the National Register of Historic Places. The renovation included the redevelopment of five floors within the original structure, keeping the major architectural features of the historic building intact. "The Hyatt House Sacramento/Midtown is the perfect marriage of the classic and the contemporary, providing the latest amenities and services in a setting that draws heavily from its nearly century-old history to provide a uniquely Sacramento experience," said Amanda Hawkins-Vogel, chief operating officer at Twenty Four Seven Hotels. "This hotel is an extension of our presence in Northern California and marks our first opening this year with two more to come in 2023. As the newest hospitality offering in the city, we expect the Hyatt House Sacramento to quickly take its rightful place as the segment and market leader for business and leisure travelers."

STR HAS UNVEILED the forward-looking component of its product "Forward STAR" in 104 new markets/submarkets across the U.S. and Canada. Forward STAR, which is presently live in 450 areas around the globe, allows hotel property and portfolio users to benchmark the next 365 days of occupancy on the books against the competition and market. "This launch represents our largest Forward STAR expansion to date and adds significant value to our overall benchmarking offering," said Amanda Hite, STR's president. "Adding to the historical data that drives so many operational decisions around the industry, this directly sourced forward data provides intel into where hotels can gain available business, adjust their approach to pricing, and implement actions around market events. When combining historical metrics, profitability data and these forward bookings insights, industry stakeholders are positioned to analyze performance from every angle." According to the statement, Forward STAR was launched in 17 of the country's 25 largest hotel markets, including Las Vegas, New York City, Los Angeles, Washington, D.C., Boston and Phoenix. More granular submarkets were added with the addition of central business districts in markets such as Austin, Chicago, Nashville and New Orleans as well as airport submarkets in areas such as Miami, San Francisco and Bradenton, Florida.

THE WINDSOR HOTEL in Americus, Georgia, a boutique hotel owned by Edgewater Group LLC, has joined Choice Hotels International's Ascend Hotel Collection. The historical building recently underwent a multi-year renovation. Edgewater is led by founding partners Ketan Vora and Robert Brier. Originally built in 1892, the 53-room, the five-story Victorian-style Windsor features a tower and turret, balconies, and a three-story open atrium lobby, according to Choice. It occupies nearly an entire city block and was the site of numerous balls and celebrations. The Windsor closed in 1972 and underwent extensive renovations in 1991, 2010 and most recently in 2019. Nearby attractions are The Plains Depot, the Jimmy Carter Peanut of Plains statue, Civil War prison Andersonville National Historic Site and the Drummer Boy Civil War Museum. Former President Jimmy Carter and his wife spent the night at the hotel in 2002. Hotel amenities include a fitness center, two on-site restaurants and bars and a veranda.

The Cambria Hotel Savannah Downtown Historic District is now open in Savannah, Georgia. It was developed by HOS Management Group, led by Kurt Patel and Anil Patel as co-founders and chairmen, and is the first Cambria in Georgia. The 6-story, 101-room hotel is in the city's National Historic Landmark District, according to Cambria. It is near the Savannah Civic Center, the SCAD Museum and Forsyth Park, as well as several top area employers, including Georgia Ports Authority, Gulfstream, Hunter Army Airfield, St. Joseph's Hospital and Mitsubishi Hitachi Power System's North American headquarters. Amenities include meeting and event spaces and a fitness center.

You need to get the French Schengen Visa before you visit the Pink City of France. A world Class city with the historic background. Showing the true spirit of France.

TWO BOUTIQUE HOTELS owned by Vision Hospitality Group, The Grady Louisville Downtown in Louisville, Kentucky, and the Kinley Cincinnati Downtown in Cincinnati, have won different categories of this year's StayBoutique Awards by the Boutique Lifestyle Leaders Association. Mitch Patel, the Chattanooga, Tennessee-based company's president and CEO, was a runner up for BLLA's Iconic Boutique Hotelier. The Grady, which opened in June 2021 and recently reopened after a renovation, took first place for two categories in the BLLA awards, Boutique Hotel Design Project and Boutique Hotel Under 100 Rooms. The Kinley, opened in October 2020, took second place for Boutique Hotel Design Project "We are honored to be recognized in this year's awards program, and we couldn't have done it without our interior design partners," Patel said. "For each of these hotels, we take pride in the historic renovations and thoughtful design work that has gone into making them what they are today."

THE HOSPITALITY INDUSTRY needs to re-focus its efforts to meet future staffing requirements if it is to increase interest by job seekers, according to consulting firm HVS. At the moment, the hospitality industry is a jobseeker's market and likely to stay that way for the next year or two. Hence, industry leaders should adapt to survive, said Court Williams, CEO of HVS Executive Search in New York in an article titled 'How to Resolve the Current State of Emergency in Hospitality Employment'. Williams stated that "successful recovery from the pandemic will depend on revising every aspect of sourcing, attracting, compensating, incentivizing, and retaining workers." "The hospitality industry has seen a decrease in staff as many people have found alternate career paths as a result of the impacts of COVID-19. Historical talent shortages are being exacerbated by staff quitting in droves as the world returns to work," Williams said in the article. "Now, the onus is on companies to show employees why they should apply for jobs or stay in their current positions."

The Hampton Inn by Hilton Blue Ridge in Blue Ridge, Georgia, is now open. It is owned by Vision Hospitality Group led by Mitch Patel as president and CEO. The 109-room hotel is in the foothills of the Blue Ridge Mountains near local breweries, wineries, eateries and specialty retail shops in the town's Historic District. Also nearby are more than 300 miles of trails, horseback riding and the Blue Ridge Scenic Railway. Hotel amenities include 1,200 square feet of meeting space and the a rooftop bar and event space.

Red Roof PLUS+ Galveston Beachfront is now open in Galveston, Texas. The beachside hotel, a former Travelodge by Wyndham, recently underwent a $1.1 million renovation. Wayside Investment Group, led by President Miraj Patel, owns the 66-room hotel. Nearby attractions include Galveston Island Historic Pleasure Pier, The Spot restaurant, Galveston Beach, Schlitterbahn Waterpark Galveston and Moody Gardens. Amenities include a swimming pool. The COVID-19 pandemic took its toll on the hotel's opening as Galveston Island temporarily shut down.

ANNUAL CHANGES IN U.S. hotel utility costs and in the Consumer Price Index, or inflation, have historically proven to be strongly correlated. As of August 2022, CBRE is forecasting CPI growth to be 7.7 percent in 2022, followed by another 3.6 percent in 2023. Since inflation has averaged just 2.2 percent since 2000, these inflation projections have hoteliers concerned about operating costs. Given that rising energy costs are a significant driver of the current rise in CPI, hotel managers are especially worried about utility department expenses. Over the past 50 years, utility department expenses have averaged between 3 and 4 percent of total revenue, indicating that hotel managers have been successfully controlling energy costs in the face of fluctuating business volumes. This is particularly commendable given the highly fixed nature of utility expenses. To provide some context to the current challenging environment, we studied recent trends in hotel utility department expenses. The data come from a sample of more than 2,800 U.S. hotels that reported utility department expenses each year from 2015 through 2021 for CBRE's annual "Trends in the Hotel Industry" survey. In 2021 the properties in the sample averaged 209 rooms in size, with an annual occupancy rate of 54.2 percent and an average daily rate of $152.70.

STAFF MEMBERS OF two hotel industry associations donned blue in January to recognize National Human Trafficking Prevention month. AAHOA and the American Hotel & Lodging Association also sought to encourage hotel owners to take advantage of their educational programs on detecting and preventing trafficking in their properties. Like his predecessors since 2010, President Joe Biden issued a proclamation officially designating January as the month to focus awareness on trafficking prevention, according to the U.S. Department of State. The month recognizes the work done by foreign governments, international organizations, anti-trafficking entities, law enforcement officials, survivor advocates, communities of faith, businesses and private citizens to raise awareness about human trafficking, the State Department said. "Since human trafficking disproportionately impacts racial and ethnic minorities, women and girls, LGBTQI+ individuals, vulnerable migrants, and other historically marginalized and underserved communities, our mission to combat human trafficking must always be connected to our broader efforts to advance equity and justice across our society," Biden said in his proclamation.

DESPITE PROJECTIONS OF persistent inflation and a moderate economic recession, CBRE's November 2022 Hotel Horizons forecast calls for a 5.8 percent increase in RevPAR in 2023. This is up from CBRE's previous forecast of a 5.6 percent increase in RevPAR for 2023. Propelling CBRE's increased outlook for RevPAR is an expected 4.2 percent rise in ADR, driven in part by the continuation of above long-run average inflation. For 2023, CBRE is forecasting the Consumer Price Index in the U.S. to increase by 3.5 percent year over year. Inflation continues to have a mixed impact on the hotel industry, bolstering top-line growth while pressuring margins. Supply and Demand Inflation is also impacting development activity. The combination of rising construction material costs, a tight labor market, and high interest rates will serve to keep supply growth over the next five years 40 percent lower than historical trends. Instead of construction, we expect cash flows in the near term to be focused on debt reductions, renovations and remodels given the backlog of Capex that built up during the pandemic. Given its forecast for a 0.2 percent decline in 2023 gross domestic product, CBRE lowered its expectations for demand growth from 3.3 percent in their August 2022 forecasts to 2.9 percent in the November update. With the projected supply increase remaining at 1.2 percent for 2023, the net result is a reduction in CBRE's occupancy growth estimate for the year to 1.6 percent, down from the 2 percent increase previously forecast. The lowering of occupancy expectations will somewhat offset the enhanced outlook for ADR growth.