Author Archives for dg_admin
September 7, 2016 7:34 pm
Published by dg_admin
The magnitude of change in the major industry indicators is not pleasing U.S. hotel owners and operators. New development activity continues to accelerate, while growth in average daily room rates (ADR) has decelerated. The sluggish start during the first half of the year resulted in another downgrade by CBRE Hotels’ Americas Research of its forecast for the entirety of 2016.
September 1, 2016 6:29 pm
Published by dg_admin
Hospitality Ventures Management Group (HVMG), an Atlanta-based, private hotel management company, today announced that John Edwards has joined the company as vice president of design and construction. In his newly created role, Edwards will work closely with the business development team, as well as brand and investor partners, to oversee new development and renovation projects. He also will be responsible for capital expense planning for the company’s owned and managed portfolio.
September 1, 2016 6:27 pm
Published by dg_admin
Officials of the Southern Lodging Summit, an annual gathering of hoteliers specializing in development and operations in the southern United States, today announced that the event achieved record attendance. Additionally, the organization released the results of its second annual “State-of-the-Industry” report compiled from attendees’ opinions. Participants were queried on such topics as to which presidential nominee would likely have the “best” impact on the industry, social media, Millennial travelers and which recent issues have had the largest impact on the hospitality industry.
August 22, 2016 4:48 pm
Published by dg_admin
WoodSpring Hotels, the nation’s fast growing extended stay hotel brand has partnered with M2B2, LLC to build a new prototype WoodSpring Suites hotel in Wixom, Michigan. The property will be located between Grand River Avenue and Highway 96 near South Wixom Avenue. This new franchised location is the first of three that M2B2 plans to build in the region.
August 22, 2016 4:41 pm
Published by dg_admin
Officials of Solid Rock Group, an investment and advisory firm focused on the hospitality, healthcare and media sectors, today announced that it successfully led the acquisition, in separate transactions, of the 122-room Anza boutique hotel and the 128-room Courtyard Atlanta Airport West on behalf of a private investment group for an undisclosed sum.
August 16, 2016 4:54 pm
Published by dg_admin
Officials of Coakley & Williams Hotel Management Company (C&W), a leading, nationwide, full-service hotel management company, today announced that its development department, headed by Mark A. Williams, CHT, vice president of development, is leading the third-generation firm into a new growth phase, adding 18 third-party management agreements totaling 1,589 rooms in the past 12 months.
August 11, 2016 4:51 pm
Published by dg_admin
WoodSpring Hotels today announced they have secured $275 million to refinance a portfolio of their WoodSpring Suites extended stay hotels. The diversified portfolio contains properties located across 20 states, including many of the fastest growing lodging markets in the country. J.P. Morgan provided the five-year floating-rate loan to WoodSpring Hotels.
August 8, 2016 5:49 pm
Published by dg_admin
Marshall Hotels & Resorts, a leading hotel management and services company that operates properties nationwide, today announced that it has signed 14 third-party hotel management agreements in a total of seven different states since January of this year. The company now boasts 6,346 rooms in its portfolio of select- and full-service hotels across the country.
August 8, 2016 5:47 pm
Published by dg_admin
Hospitality Ventures Management Group (HVMG), an Atlanta-based, private hotel ownership and management company, today announced it has formed a joint venture with True North Management Group of White Plains, N.Y., to acquire the 282-room Marriott Century Center in Atlanta, Ga., and the 226 two-room suite Hilton Phoenix Suites in Midtown Phoenix, Ariz. HVMG will operate both hotels, bringing its portfolio to 35 operated hotels with 7,572 rooms nationwide. The deal was brokered by Atlanta-based Hunter Hotel Advisors for $50.75M, inclusive of the hotels’ capital reserve accounts.
August 3, 2016 5:43 pm
Published by dg_admin
WoodSpring Hotels, the nation’s fastest-growing extended-stay hotel company, has partnered with Pragat 1921 to build a new prototype WoodSpring Suites hotel. The property will be located on Highway 138 in Stockbridge, Ga. This will be the fourth WoodSpring Hotels property either open or under development in Metro Atlanta.
