David Hunter, the Hospitality Business Mentor, firmly believes that three quarters of the failing accommodation providers he meets could be saved with the right focus, processes and management techniques.
Accor has reported higher-than-expected first-half operating profits and raised its 2010 guidance, led by a resurgent business travel sector. The improvement was driven by higher occupancy and rates across the group’s Sofitel, Pullman and Novotel brands.
Luxury hospitality group Mandarin Oriental has reported an upbeat set of results for the first half of 2010 as confidence returns to the corporate travel market.
Hoteliers across the UK experienced a mostly solid month of recovery in May with occupancy, room rate and rooms yield largely positive, according to PKF Hotel Consultancy Services.
The 6th annual China Hotel Development and Financing Conference 2010 Opened in Beijing today, with over 500 delegates packing into the Crowne Plaza Sun Palace to hear the very latest news from the industry.
National Commercial Auctioneers, LLC, [www.natcomauctions.com] announces the sale of more hotels at auction over the next two months than any other auctioneer in the country, according to Stephen Karbelk, CAI, AARE, President of National Commercial Auctioneers.
PKF Hospitality Research today announced that, according to the March 2010 edition of Hotel Horizons, U.S. hotels should enjoy double-digit revenue growth by 2012.
Wyndham Worldwide Corporation today announced that it has completed a term securitization transaction involving the issuance of $300 million of investment-grade asset-backed notes. Sierra Timeshare 2010-1 Receivables Funding LLC issued $300 million of A rated vacation ownership loan backed notes, which have an advance rate of 72.25% and a coupon of 4.48%.
Extended Stay’s Board Determines Proposal from Starwood Capital, TPG Capital and Five Mile Capital Partners is Superior to Previous Offer from Centerbridge Partners and Paulson & Co.
Roomlinx, Inc. the leading provider of Interactive TV (iTV) solutions for the hospitality industry, today announced that in the last four months (Nov 2009 - Feb 2010) they averaged over $90 per room per month in revenue at the Casa Dorada Resort & Spa from rooms installed with its iTV product.
According to data compiled by STR Global, hotels in the Asia Pacific region experienced increases in all three key performance metrics for January 2010 when reported in U.S. dollar. In year-on-year measurements, the Asia Pacific region’s OR rose 13.9% to 61%, ADR increased 5.6% to US$130.75, and RevPAR jumped 20.3% to US$79.81.