Everett, Wash., June 6, 2016 — WoodSpring Hotels, the nation’s fastest-growing extended-stay hotel company has partnered with West77 to build the first WoodSpring Suites hotel in Everett, Washington. The property, which will be located at 7707 Broadway Everett, WA 98203, marks the first of up to 25 hotels to be developed by West77 across the state of Washington.
U.S. hotel revenue growth is slowing down, while expenses are on the rise. According to CBRE Hotels’ Americas Research’s 2016 edition of Trends® in the Hotel Industry, operating performance continued to improve in 2015, but at a much slower pace. Trends® is the firm’s annual survey of operating statements from thousands of hotels across the nation. The data for the 2016 survey was processed in accordance with the new 11th edition of the Uniform System of Accounts for the Lodging Industry.
Officials of The Preiss Company, the nation’s third largest, privately-held, student housing owner-operator, today announced that it had formed a joint venture with a private investment group to acquire two student housing complexes in Raleigh, N.C., for an undisclosed amount. The transaction brings to seven the number of properties transacted by Preiss year-to-date. Both student housing units -- the 440-bed College Inn and the 288-bed University Village at 2505 -- will continue to be operated by The Preiss Company.
The Hospitality Asset Managers Association (HAMA) today announced that senior Cameron Armstrong and junior Di Wang of Michigan State University were selected as the 2016 winners of the Tenth Annual HAMA Student Case Competition. The MSU team was chosen from a select field of top hotel schools that also included the Pennsylvania State University and the University of Denver. Student teams researched and prepared a case study from a list of topics that currently impact the hotel industry.
Gemstone Hotels and Resorts, a full-service hotel management company that specializes in operating luxury and upscale urban hotels and resorts, today announced that William Parris has joined the company as national sales director. In his new position, Parris will open a NYC sales office, with focus on group and national accounts, as well as the social, entertainment and travel industry markets. With 16 operating hotels, and several others either opening or coming under management over the next year, Parris’ impact will be felt immediately throughout the national portfolio.
Cranston, R.I., April 25, 2016 – The Procaccianti Group, a privately‐held real estate investment and management company, today announced the... View Article
ATLANTA, March 28, 2016 – The Atlanta Hospitality Alliance (AHA) today announced that it has presented John C. Portman, Jr.,... View Article
Company Projects Record Year in Transaction Activity ATLANTA, Ga., March 21, 2016 — Stonehill Strategic Capital, LLC (“SSC”), an affiliate... View Article
WASHINGTON, D.C./EAST RUTHERFORD, N.J., March 10, 2016 — Officials of PM Hotel Group, a leading, national hotel management company, today... View Article
(Columbus, Ohio) March 9, 2016 – Strand Hospitality Services, a leading provider of hospitality operations, consulting and advisory services, today... View Article