Starwood Hotels & Resorts Worldwide Inc. reported a better-than-expected 16.4 percent drop in second-quarter profit Thursday, although the stock fell after Starwood cut its full-year outlook, citing a weakening U.S. market. Starwood shares fell $4.56, or 11.5 percent, to $35.26...

Laurence Geller has never been one to mince words. It was no different during a keynote luncheon address at the inaugural Midwest Lodging Investors Summit last week in Chicago. Geller, the president and CEO of Strategic Hotels & Resorts, told...

Driven by changes in investors' perceptions of value across the Americas, the "hold" sentiment is the dominant investor strategy for the first time in five years - at 38.1%. Investors intending to hold their assets are followed closely by net...

Hotel developers trying to arrange financing for their projects have plenty of options available, but they might have to stretch their budgets to accommodate the demands of lenders. During a session panel at this week's Midwest Lodging Investors Summit ,...

Celebrities who own hotels and resorts bring not only A-list cachet to their properties, but personal touches that you'd be hard-pressed to find in bigger places. The groovy refurbished 1950s cabins at Kate Pierson's Lazy Meadow Motel in New York's...

Based on a survey of hotel managers conducted in January 2008, over half (56.7 percent) the hotels in the United States will not achieve their budgeted profit target for 2008. Hotel managers appear to be relying on their ability to...

It is estimated that U.S. hotel revenues will increase an estimated 5.8 percent in 2007, and grow another 5.3 percent in 2008. Both projections exceed the long-term average annual growth rate of 4.5 percent. Further, revenue growth will be heavily...

Everyone repeat after me: 'I will not cut prices nor panic sell because it does not stimulate incremental demand and only serves to drive down prices.' (Jeff Weinstein, Editor, Hotels Magazine, February 08) Jeff has given us the mantra that...

If you are a hotel developer, whatever plans you had for 2008 may have to change. It has been a sellers market for the past few years and access to financing has been easy and cheap Bringing a property to...

Investors say it's a good time to buy hotels. According to a recent survey, "buy" is the prevailing investment strategy for the next six months, with the proportion of buyers to sellers increasing slightly upward to almost 5:1. Prior to...

Most hotels go through a renovation every five to seven years to update the physical aspects of the asset in order to remain competitive-and to remain in compliance with required franchise brand standards, when applicable. How effectively management strategically plans...

Full year 2007 industry occupancy was 63.2 percent, down 0.2 percent versus 2006. Average room rate increased 5.9 percent to $103.64 and revenue per available room (RevPAR) --- the combination of occupancy and average room rate and a key...

The purpose of this U.S. Hotel Franchise Development Cost Guide is to provide a summary of the total development cost ranges, exclusive of land, that are applicable to various hotel franchise brands as described in their respective Uniform Franchise...

Time to go Green A "green" plan is no longer a luxury. Every day, another venerable brand commits to a sustainable future. While there is much "green washing," rating services like B Corporation will set standards that will have major...

A recently released analysis found that if an economic recession were to occur in the United States during 2008 - 2009, it would result in a 6.1 percent decline in rooms revenue for the U.S. lodging industry through 2010. With...

The pipeline of new hotel projects gained momentum in 2006. By the end of 2006, several hotel companies and development firms announced record growth in new hotel construction. PriceWaterhouseCooper and Torto Wheaton report that roundly 136,500 new rooms began construction...

Hotel room service sure isn't what it used to be. Although some hotels still feature the same 'ol shrimp cocktails, club sandwiches and hamburgers on their room service menus, others take a more innovative approach, offering unusual dishes--like a Japanese...

Some of you think a trade association has a duty to enhance the real estate business or protect the status quo, while others think we shouldn't exist at all. I would argue, we fall somewhere in the middle - part...

Five-star hotels usually have five stars for a reason: Their service is impeccable, and they often do the impossible, thanks to their ever-resourceful concierge staff. Concierges will help out, no matter how difficult the assignment, whether the guest is a...

First, stop thinking that lowering your rates will sell more rooms and increase room revenue. It may sell a few more rooms, but it rarely sells enough rooms to offset lowered rates. It's simple economics; simply selling more rooms increases...

When you're designing a new hotel chain, there's a lot to keep in mind. Building codes and construction costs. Staff training and operating procedures. Target markets, in-room amenities and daily rack rates. Ottomans. The little footstools, it seems, can be...

Tired of staying at posh Four Seasons or Ritz-Carlton hotels? Looking for accommodations that are wonderful but slightly wacky? You're in luck, whether you're visiting New England, Paris or the wilds of Costa Rica or Turkey: Each has an over-the-top...

Everyone is well aware of what is happening with the mortgage backed securities market. 'Subprime' and 'predatory lending' have become household terms in the wake of recent news. Where did all of this begin? Where did we go wrong? Well,...

In this analysis, we will direct our attention to the chain scales and the top 25 markets and how the nature of supply growth will affect these segments and what that will mean for the short- and long-term evolution of...

Two items caught my attention this month. One was the announcement of Marriott teaming up with Ian Schrager to co-develop a new boutique hotel brand. The other was the 40th anniversary of the Hyatt Regency Atlanta. I'll try to connect...

IHG the world’s largest hotel group by number of rooms, today announces plans to build a new 135-room Hotel Indigo in the East Liberty area of Pittsburgh. Construction is anticipated to begin in second quarter 2008, with an expected opening...

It was Tip O’Neill, former Speaker of the US House of Representatives, who uttered that reknown phrase, “All politics are local”. The case can be made that all Hospitality relationships are initiated, molded and maintained on the local level, as...

The Office of the Chief Economist of Freddie Mac issued its monthly economic outlook for July on Monday and, in the narrative provided a helpful analysis of the reasons for the confusing messages emerging from various reports on current house...

Social media websites and blogs have rapidly become an important part of any effective Internet marketing strategy. Why? Simply because these websites are where people are talking about your hotel and your services and there is no better advertising media...

Lodging Econometrics (LE), the Industry Authority for Hotel Real Estate, in its mid-year report to the Lodging Industry released its Supply Side Forecast for 2008, for the first time. LE forecasts that 1,079 New Hotels will open in 2008, having...