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Business Credit Startup Nav Raises $44 Million From Goldman, Point72, Experian

mycloud HOSPITALITY·11 February 2019
Nav, a startup that gives small businesses free access to their credit reports, announced it has raised $44 million from Goldman Sachs Group, Point72 Ventures, Experian Ventures, CreditEase Fintech Investment Fund, and Aries. Goldman Sachs led the fund raising.

Avison Young Hospitality Group Recent Closings

Hotel Online·11 February 2019
Avison Young Hospitality Group announced today the closing of four transactions since the first of the year. The properties include a full-service Marriott in south Florida that sold for $49 million, a Marriott branded hotel in Bossier City LA, a historic hotel on the water in Rhode Island and a mid-market hotel in the southeast.

PMZ Realty Capital LLC Secures $25 Million Cash Out Loans For Trio Of Hilton Hotels

Hotel Interactive ·11 February 2019
PMZ Realty Capital LLC, a boutique real estate investment banking firm, has secured three hotel loans totaling $25 million. PMZ Realty Capital specializes in hotel real estate investment banking nationwide, with an expertise in sourcing capital.

Unit-Level Hotel Marketing: P&L Reveals Changes in Department Functions

Lodging Magazine·11 February 2019
Technology, online intermediaries, social media, revenue management software, shared services, and the proliferation of market intelligence reports have reshaped the way hotel sales and marketing departments conduct business. The traditional organizational structure of assigning personnel by demand segments (commercial, group, leisure) has given way to assignment by function (revenue management, social media, channel distribution, customer relationship management). According to one industry executive, most of the “selling” of hotel rooms has moved from the property level to corporate and regional offices.

2019 Swiss Hospitality Market News

mycloud HOSPITALITY·11 February 2019
As Swiss hotels gear up for 2019, here is roundup from CNNmoney Switzerland on some of the most important trends of the Swiss hospitality market.

MCR Acquires The Recently-Opened Hampton Inn & Suites Near Chicago

Hotel Interactive ·11 February 2019
MCR, the sixth-largest hotel owner-operator in the United States, has acquired the 116-room Hampton Inn & Suites Chicago/Waukegan.

The Evolution of Sustainability - Profit With Purpose

mycloud HOSPITALITY·11 February 2019
Hosted by NH Hotel Group at the NH Collection Grand Hotel Krasnapolsky in Amsterdam, The Global Restaurant Investment Forum (GRIF) will bring together more than 350 investors, owners, franchisors and hospitality leaders from February 25 – 27, 2019.

Airbnb Counters Paris' Claims That Many Listings Are Illegal

skift.com - Digital·10 February 2019
We've seen this movie before. Should Airbnb be responsible for the legality of listings on its site? Will municipalities be able to curb Airbnb as a way to counter skyrocketing rents? A happy ending isn't a likely scenario.

F&B Legal Roundup - January 2019

Modern Restaurant Management· 8 February 2019
Pooja S. Nair, a food and beverage lawyer and litigation member at TroyGould PC in Los Angeles, compiles recent legal news affecting the restaurant, food and beverage and hospitality industries for Modern Restaurant Management (MRM) magazine.

Does Your Restaurant Need a Liquor License?

Modern Restaurant Management· 8 February 2019
One of the principal questions facing restaurant owners is whether or not it’s worth applying for a liquor license. Serving alcohol at your establishment will open the door to both opportunity and responsibility.Alcohol sales can be great for bottom-line health, but be prepared for the added costs and continuous governance attached to consumer consumption. It’s up to you to decide which outweighs the other. Of course, many additional factors should be considered such as the size of your establishment, the breadth of drink options you plan on offering and the style of your restaurant.

Park Hotels & Resorts Inc. Announces The Sale Of Pointe Hilton Squaw Peak Resort For $51.4 Million

Hotel Interactive · 8 February 2019
Park Hotels & Resorts Inc. (“Park”) (NYSE:PK) today announced that it has closed on the sale of the 563-room Pointe Hilton Squaw Peak Resort (the “Hotel”) located in Phoenix, AZ, for gross proceeds of $51.4 million, or $91,200 per key before customary closing costs. When adjusted for Park’s anticipated capital expenditures (“capex”) of $28 million for the Hotel, the sale price represents a 5.2% capitalization rate on the Hotel’s projected 2018 net operating income (8.0% excluding capex), or 13.9x the Hotel’s projected 2018 EBITDA. Proceeds from the sale will be used for general business purposes, which may include funding future capital projects.

Uber Topped Business Expense Tally Again in 2018

Business Travel News (BTN)· 7 February 2019
Uber was the most-expensed brand for North American businesses in 2018, according to Certify, marking the third consecutive year the ridehailing giant has taken the top spot in the expense provider's SpendSmart Year in Review report.

2019 global hotel investment volume to total $67.2 billion

mycloud HOSPITALITY· 7 February 2019
Cautious yet confident may best describe the global hotel market’s investor sentiment according to JLL Hotels & Hospitality’s annual Hotel Investment Outlook. The newly issued report projects global hotel investment volume will reach $67.2 billion, nearly equal to 2018’s total of $67.7 billion.

JLL Projects 2019 Global Hotel Investment Volume Will Total $67 Billion

Hotel Online· 6 February 2019
Cautious yet confident may best describe the global hotel market’s investor sentiment according to JLL Hotels & Hospitality’s annual Hotel Investment Outlook. The newly issued report projects global hotel investment volume will reach $67.2 billion, nearly equal to 2018’s total of $67.7 billion. While there is anticipated moderating economic growth and geopolitical uncertainty, hotel property performance remains strong, travel and tourism is anticipated to reach another record year and investors seeking more yield are increasingly turning their sights toward hotels.

Deal Report: Five Hotel Acquisitions and Refinancings

mycloud HOSPITALITY· 6 February 2019
Hotel developer Phil Hospod announced the launch of Dovetail + Co, a hotel ownership and development company focused on creating value through design, experience, and capital.

Study: One Missed Shift Means Financial Insecurity for Half of Hourly Employees

Hospitality Technology Magazine· 6 February 2019
Most of today’s hourly workforce is living paycheck to paycheck. For nearly half of employees surveyed, one missed shift means late payments on rent, utilities and other basic necessities, according to new research from digital workplace platform WorkJam.

CHMWarnick Expands Accounting Services For Hotel Asset Management Clients

Hotel Interactive · 5 February 2019
CHMWarnick, the preeminent asset manager and business advisor to the hotel investment community, announced today it has expanded its accounting services available to asset management clients. While the company previously offered accounting services on a request-only basis, this marks CHMWarnick’s formal entry into the space, making it the only third-party hotel asset management company providing full owner-entity accounting capabilities.

Papa John's Obtains $200M Strategic Investment from Starboard

Hospitality Technology Magazine· 5 February 2019
Papa John’s International Inc. has entered into a securities purchase agreement with Starboard Value LP pursuant to which Starboard is making a $200 million strategic investment in the company with the option to make an additional $50 million investment through March 29.

Final flourish secures annual profit growth for UK hotels

Meetings Today Blog· 5 February 2019
A strong finish to 2018 secured a second consecutive year of GOPPAR growth for UK’s hotels, as they sidestepped challenging economic and political conditions.

Thomas Cook secures EUR51M in funding for Med hotels

Hotel Management· 4 February 2019
Thomas Cook Hotel Investments, the joint venture between LMEY Investments and Thomas Cook Group PLC, has secured €51 million in its second round of debt funding from Spain's CaixaBank. This follows €40 million in funding from Piraeus Bank, for a total of €91 million.

Data-Driven OPEX Energy Upgrades Manage Risk During Economic Downturns

Lodging Magazine· 4 February 2019
Predictability is good for business, yet remains rare in the hospitality industry where volatility is legendary. While hoteliers have enjoyed a decade of transformational growth marked by countless innovations enabling strong returns on capital expenditures (CAPEX), there’s a growing apprehension around a looming downturn.

Study: For Half of Hourly Employees, One Missed Shift Means Financial Insecurity

hotelbusiness.com·Requires Registration · 4 February 2019
Released today, the new research from WorkJam — a leading digital workplace platform — found that for nearly half of employees surveyed, one missed shift means late payments on rent, utilities, and other basic necessities.

Preferred Hotels & Resorts Reports Strong 2018

hotelbusiness.com·Requires Registration · 1 February 2019
Preferred Hotels & Resorts, global provider of sales, marketing and distribution services to independent luxury hotels, has revealed its 2018 year-end results.

Hall Structured Finance provides $37.5M loan for new Atlanta Reverb

Hotel F&B Observer· 1 February 2019
Dallas-based Hall Structured Finance closed a new first-lien construction loan totaling $37.5 million to finance the construction of a Reverb Hotel in downtown Atlanta. Reverb is an an upscale, limited-service brand by Hard Rock Hotels, and the proposed Atlanta property will be located within the Castleberry Park mixed-use development, adjacent to the Mercedes-Benz Stadium. The new 195-room hotel is anticipated to open in February 2020. The developer behind the project is Bolton Atlanta.

NKF Arranges $27.8M Refinancing For Courtyard Marriott Riverwalk Hotel In San Antonio, TX

Hotel F&B Observer· 1 February 2019
Newmark Knight Frank (NKF) is pleased to announce it has successfully arranged a $27,800,000 refinancing loan for the Courtyard Marriott Riverwalk hotel in San Antonio, Texas. Executive Managing Director Ben Greazel of NKF’s Capital Markets group originated the ten-year, interest-only, non-recourse loan on behalf of the borrower and long-time client, Finvarb Group, led by Richard Finvarb and Ronny Finvarb. Greazel secured the financing with Benefit Street Partners.

Rockbridge Enters Knoxville Market With Acquisition Of The Tennessean And Holiday Inn Hotels

Hotel Interactive · 1 February 2019
Rockbridge announces the acquisition of The Tennessean Hotel and the Holiday Inn Knoxville Downtown Hotel, both of which sit in prime locations in downtown Knoxville. Aimbridge Hospitality will manage both hotels.

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