Copyright 1995-2010 Hsyndicate.com http://www.hsyndicate.org/ Top Stories - Latest Hospitality and Hotel Industry News and Events en-us Sat, 20 Mar 2010 06:09:36 GMT content@hsyndicate.com davy@hsyndicate.com Hsyndicate RSS FeedGenerator 5 http://www.hsyndicate.org/news/4045900.html http://www.hsyndicate.org/news/4045900.html Fri, 19 Mar 2010 15:01:21 GMT A team of 4 MHA students from the Ecole hôtelière de Lausanne (EHL) won the 3rd Student Strategic Challenge held at the IHIF in Berlin on 7 March with their project called e-Loyalty. The IHIF is Europe's leading Investment Conference for the hotel industry, attended this year by 1600 senior executives representing owners, CEOs and hotel operators/developers, investors and lenders. The EHL victory in the competition, open to European hotel schools by invitation, was the 3rd in a row. http://www.hsyndicate.org/news/4045899.html http://www.hsyndicate.org/news/4045899.html Fri, 19 Mar 2010 14:35:28 GMT 2009 has gone into the history books as one of the worst for the hotel industry. Revenue per average room (RevPAR) practically collapsed as travelers stayed away. Companies reined in travel expenditure and tourists stayed at home. Business is suffering against all measures and we have seen hotel stocks fall in value around the world. Despite this, hotel closures and large-scale forced sales of distressed assets have not materialized in the Europe, Middle East, India and Africa (EMEIA) region in any great number. Cash-rich funds continue to wait in the belief that the bottom of the market has not yet been reached. Similar trends are also being experienced in other regions of the world. http://www.hsyndicate.org/news/4045898.html http://www.hsyndicate.org/news/4045898.html Fri, 19 Mar 2010 13:45:12 GMT Neil Cornelssen says he misses the free cookies in the evening at one hotel and the daily newspaper outside his door at others. He's also noticing that bath towels in a growing number of hotel rooms are shabby and need to be replaced. Cornelssen, a sales manager in Marlton, N.J., is one of many frequent travelers who say they see the tangible effect that the recession has had on the nation's hotel industry. Among them: run-down rooms with fewer bathroom amenities, closed club lounges, fewer concierge staffers, slow room service, reduced hours at restaurants and bars, and infrequent airport shuttles. http://www.hsyndicate.org/news/4045897.html http://www.hsyndicate.org/news/4045897.html Fri, 19 Mar 2010 13:40:09 GMT Chesapeake Lodging Trust (NYSE: CHSP), a lodging real estate investment trust (REIT), and Hyatt Hotels Corporation (NYSE: H) announced that Chesapeake Lodging Trust has acquired the 498-room Hyatt Regency Boston for a purchase price of $112 million, or approximately $225,000 per key, and will invest additional capital in renovations in the hotel, which is located in Boston, Mass. The companies have entered into a long-term management agreement and Hyatt will continue to operate the hotel under the Hyatt Regency flag. http://www.hsyndicate.org/news/4045896.html http://www.hsyndicate.org/news/4045896.html Fri, 19 Mar 2010 13:34:56 GMT Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt subsidiary and MKC-RosEvroDevelopment LLC signed a management agreement for Hyatt Regency Rostov – Don Plaza. The 220-room hotel in Rostov, Russia will be part of a larger complex located on Bolshaya Sadovaya Street, one of the main streets of Rostov-on-Don. This new international mixed-use development will also comprise of extensive conference facilities, a retail space, and a number of luxurious serviced apartments. http://www.hsyndicate.org/news/4045895.html http://www.hsyndicate.org/news/4045895.html Fri, 19 Mar 2010 13:30:56 GMT During a general session at the International Hotel Investment Forum earlier this month, Mark Lomanno, president of STR and chairman of STR Global, said hotel performance in Europe is still bleak, despite some hints of optimism. “There is still reluctance to embrace (demand) and raise room rates,” he said of average daily rate growth. “It’s going to be up to hoteliers to say, ‘Do we have trust that demand is coming back enough to accelerate rates?’” http://www.hsyndicate.org/news/4045894.html http://www.hsyndicate.org/news/4045894.html Fri, 19 Mar 2010 13:28:35 GMT The festive nature of St. Patrick’s Day provided a perfect backdrop for economist Rajeev Dhawan on Wednesday during the opening session of the 22nd annual Hunter Hotel Investment Conference. “A simple fact of life is that all hangovers are lousy,” Dhawan said as he explained the current global financial situation to the hotel-industry executives in attendance. http://www.hsyndicate.org/news/4045893.html http://www.hsyndicate.org/news/4045893.html Fri, 19 Mar 2010 13:22:50 GMT Barry Sternlicht, best known for founding boutique W Hotels, has persuaded Extended Stay Inc. to back his bid to take the midpriced hotel chain out of bankruptcy-court protection. Earlier this month, Extended Stay had accepted a reorganization plan proposed by two investment firms, Centerbridge Partners LP and Paulson & Co. But the chain's board has switched support to the plan of a group led by Mr. Sternlicht's Starwood Capital Group. Mr. Sternlicht's effort is far from a done deal. He could still be outbid, and he will need the bankruptcy-court judge's approval. But a victory would end the largest hotel-bankruptcy case ever and one of the most dramatic commercial-real-estate collapses of the recession. http://www.hsyndicate.org/news/4045892.html http://www.hsyndicate.org/news/4045892.html Fri, 19 Mar 2010 13:10:13 GMT Hospitality Management Corporation announced today the successful conversion of the Holiday Inn Austin Midtown. The announcement comes from Leo Spriggs, President of HMC, “We are excited about the opportunity this hotel has to offer Austin and the name recognition Holiday Inn will bring to the property. With the current unprecedented economic and travel environments, Austin’s newest, full-service Holiday Inn, the Holiday Inn Austin Midtown, fits perfectly in that, more than ever, value is the key and no one provides better overall value than the Holiday Inn brand.” http://www.hsyndicate.org/news/4045890.html http://www.hsyndicate.org/news/4045890.html Fri, 19 Mar 2010 10:03:58 GMT Researchers in both industry and academe are invited to submit proposals for presentations for the inaugural Cornell Hospitality Research Summit (CHRS), scheduled for October 6-8, 2010, at the School of Hotel Administration on the beautiful Cornell campus in Ithaca, New York. Created and organized by the Cornell Center for Hospitality Research, this "thought leadership" summit will feature keynote addresses from five or six top international industry executives and scholars. The CHRS will bring together faculty, corporate partners, and other industry leaders to develop new ideas, theories, and models that improve strategic, managerial, and operating practices.