Monthly Archives: December 2016
Playa Hotels & Resorts officially publicizing its partnership with consumer brand, Panama Jack. Playa formally announced its move during the company’s first annual Spotlight Awards on January 7, 2017. The invitation-only event was held for the industry’s top-performers at Playa’s popular Hyatt Ziva Rose Hall property in Montego Bay, Jamaica.
Playa will now-under the Panama Jack brand-pursue the redevelopment of two existing all-inclusive hotels in Mexico: Gran Caribe Resort in Cancun and Gran Porto Resort in Playa del Carmen. The soon-to-be Panama Jack-branded all-inclusive properties will serve as a starting point for a much larger venture between the two growing companies, with additional resorts in Mexico and the Caribbean to follow.
“Playa Hotels & Resorts has a proven track record for bringing brands into new sectors and we are delighted to welcome Panama Jack into the hotel and resort sector,” said Kevin Froemming, Executive Vice President & Chief Marketing Officer, Playa Hotels & Resorts. “And with its strong lifestyle identity and cultural connection with our core audience, Panama Jack is the ideal partner for us. We couldn’t be more pleased about this partnership.”
The multimillion dollar investment to rebrand the two all-inclusive resorts-with a total of 757 guest rooms between them-will materialize early this year. Upon completion, the innovative properties will be reimagined resulting in a casual and friendly vacation experience influenced by Panama Jack’s relaxed and fun persona, encompassing all things sun and surf.
With a nod to vintage travel and a retro tropical aesthetic, the substantial upgrades will include Panama Jack-influenced experiential dining, entertainment and in-suite concepts. The brand will be further integrated by way of furnishings, in-room products, signage and uniforms, introducing guests to the worldly and relaxed essence for which Panama Jack is celebrated. Additionally, both resorts will incorporate the core of the Panama Jack business by housing retail stores complete with the brand’s best-selling clothing, home furnishings and beach products.
“We’re excited to partner with Playa Hotels to launch Panama Jack Resorts,” said Kim Manna, Chief Executive Officer of Panama Jack. “We found the perfect partner in the hospitality industry with proven performance, tremendous growth and the expertise we’ve been looking for. This is the natural evolution of our brand, confirming its preeminence in the casual lifestyle market. Consumers who enjoy our products at home and on the beach will now, as vacationing guests, have the opportunity to experience the brand as a destination where they can create their own adventures and memories with family and friends.”
Historic Hotels of Americahas inducted 37 historic hotels into membership in 2016. The oldest historic hotel inducted dates to 1789. Hotels nominated and accepted into the prestigious National Trust for Historic Preservation Historic Hotels of America program in 2016 range in age from 227 years to 51 years old. These newly inducted historic hotels represent 19 states and include Hotel Captain Cook, the first member hotel in the state of Alaska. Nine of the 37 historic hotels are listed in the National Register of Historic Places (see NRHP below).
Historic Hotels of America welcomed these new members in 2016:
- The Georges (1789) Lexington, VA (AR)
- Woodstock Inn & Resort (1793) VT
- The Bedford Village Inn (1810) NH (AR)
- Historic Hotels of Lake Geneva (1856) WI (AR)
- Plaza Hotel 1882 (1882) Las Vegas, NM
- Montvale Hotel (1899) Spokane, WA (NRHP)
- The DeSoto (1890; 1968) Savannah, GA
- AKA Times Square (1893) New York, NY (NRHP)
- Ames Boston Hotel, Curio Collection by Hilton (1893) MA (AR,NRHP)
- White Stallion Ranch (1900) Tucson, AZ
- Pioneer Inn (1901) Lahaina, Maui, HI
- The Redbury New York (1903) New York, NY
- XV Beacon (1903) Boston, MA (NRHP)
- AKA Wall Street (1907) New York, NY (AR)
- AKA Rittenhouse Square (1912) Philadelphia, PA (AR)
- Claremont Club & Spa, A Fairmont Hotel (1915) Berkeley, CA
- Hotel Congress (1918) Tucson, AZ (NRHP)
- Marriott Syracuse Downtown (1924) NY (NRHP)
- The Scarlet Huntington (1924) San Francisco, CA
- La Valencia Hotel (1926) La Jolla, CA
- dusitD2 Hotel Constance Pasadena (1926) CA
- The Hollywood Roosevelt (1927) Los Angeles, CA
- NOPSI Hotel New Orleans, a Salamander Hotel (1927) LA (AR)
- Hotel Durant- Berkeley (1928) CA
- The Renwick Hotel New York City, Curio Collection by Hilton (1928) NY (AR)
- AKA Sutton Place (1929) New York, NY
- Silver Birches Resort (1929) Hawley, PA
- Hotel Warner (1930) West Chester, PA (AR, NRHP)
- Hotel Phillips Kansas City, Curio Collection by Hilton (1931) MO (NRHP)
- The Lodge at Wakulla Springs (1937) Crawfordville, FL (NRHP)
- The Raleigh Miami Beach (1940) FL
- The Campbell House Lexington, Curio Collection by Hilton (1949) KY
- Morris Inn (1952) Notre Dame, IN
- Hotel Valley Ho (1956) Scottsdale, AZ
- The Dewberry (1964) Charleston, SC (AR)
- Hotel Captain Cook (1964) Anchorage, AK
- Mauna Kea Beach Hotel, Autograph Collection (1965) Kohala Coast, HI
The global hotel industry’s leading cloud platform, SiteMinder, today announces it has secured 109 properties belonging to Barceló Hotels & Resorts, the third largest hotel chain in Spain and the 42nd largest in the world. The win adds nearly 33,000 hotel rooms to SiteMinder’s distribution network one week ahead of FITUR, the world’s tourism trade fair for the Ibero American markets, where SiteMinder will be exhibitingfor the third consecutive year.
Speaking on the decision to adopt SiteMinder’s technology, Barceló Hotels & Resorts’ head of e-distribution, Albert Santin, says, “SiteMinder has provided the peace we were looking for to complete our distribution strategy. Their expansive partner network gives Barceló direct access to new, important markets, and greater visibility in existing ones, to significantly lower our cost of acquiring guests. And, I know SiteMinder will only continue to grow to provide us even greater direct business with the world’s leading distribution channels.
“Additionally, as we look to grow our portfolio to 200 hotels in the next five years, having the ability to centralise as many bookings as we can now means we can have greater control as we scale, be significantly more efficient, and make better decisions that drive revenue.”
Part of the Barceló Group founded in Spain’s tourism hot spot of Palma, Barceló Hotels & Resorts comprises 109 establishments with nearly 33,000 rooms across 18 countries. Almost all establishments are 4-star and 5-star vacation resorts and city hotels.
In 2015, the hotel group acquired Occidental Hotels & Resorts to expand its presence throughout Europe, Latin America and Africa under the brands of Occidental, Allegro and Royal Hideaway. The acquisition was followed in 2016 by a franchise agreement with Chinese giant Plateno, which has enabled Barceló to leverage Plateno’s 100 million-member loyalty program and granted Plateno rights to operate under the Barceló brand in the world’s biggest outbound tourism market.
Mateus Coelho, regional manager – Iberia at SiteMinder, says, “SiteMinder’s partnership with Barceló Hotels & Resorts signifies the need for even the largest hotel brands to deploy distribution technology that is powerful and automated in order to remain competitive in today’s dynamic booking landscape. With SiteMinder’s Channel Manager, we are pleased Barceló can now benefit from incomparable reach online and a platform that works at the speed at which their guests are booking.”
+61 410 233 735
As the leading cloud platform for hotels, SiteMinder allows hotels to attract, reach and convert guests across the globe. We serve hotels of all sizes with award-winning solutions for independents and groups alike, wherever they are in the world.
SiteMinder’s products include The Channel Manager, the industry’s leading online distribution platform;TheBookingButton, a wholly-branded booking engine for direct bookings via the web, mobile or social; Canvas, the intelligent website creator for independent hoteliers; Prophet, the real-time market intelligence solution that takes the guesswork out of pricing rooms; and GDS by SiteMinder, a single-point of entry to a six-figure network of travel agents and the world’s major GDSs. With more than 23,000 hotel customers and 550 of the industry’s top connectivity providers as our partners, today we have presence in more than 160 countries on six continents.
For more information, visit www.siteminder.com or the team at FITUR (stand 8F07).
About Barceló Hotels & Resorts
Barceló Hotels & Resorts, the hotel division of the Barceló Business Corporation, is the third largest chain in Spain and the world’s 42nd. Today, and after the acquisition of Occidental Hotels & Resorts, it has 109 establishments – which are almost exclusively 4-star and 5-star, all-inclusive vacation resorts, top-range vacation resorts and city hotels – and nearly 33,000 rooms distributed over 18 countries. In addition, the 85-year-old company owns a 40% shareholding in Barceló Crestline, an American management corporation, the portfolio of which amounts to 75 establishments.
Hersha Hospitality Trust (NYSE: HT) announced the Company closed on the sale of the 203-room Courtyard by Marriott in Alexandria, VA, and the 120-room Residence Inn in Greenbelt, MD for $62.0 million. The Company has agreed to a 6-month extension to close on the sale of three suburban West Coast hotels for $130.5 million, a $7.5 million increase from the original purchase price. In addition, the Company has redeemed its interest in its Mystic Partners joint-venture, acquiring all ownership interest of the 285-room Mystic Marriott Hotel & Spa in Mystic, CT, and redeeming the Company’s minority ownership interests in the Marriott and Hilton in Hartford, CT.
Sale of Suburban Washington, DC Hotels
“The successful disposition of two stabilized suburban hotels with an average age of thirteen years reflects the Company’s ongoing ability to execute accretive capital recycling, further concentrates our footprint to higher barrier-to-entry urban gateway and destination markets, and focuses our resources on higher quality, higher growth hotels. We expect to redeploy sales proceeds in strategic growth markets to offset taxable gains given our low basis in the hotels that we sold. We are also pleased to have structured a deal that delays the closing of the three suburban West Coast hotels for six months at improved pricing, as it allows us to continue to capture strong operational performance of these hotels while we seek replacement assets that meet the Company’s strategic goals,” stated Mr. Jay H. Shah, Hersha’s Chief Executive Officer.
The Company’s agreement to delay the closing of the three suburban West Coast hotels includes a $7.5 million increase in the purchase price, valuing the entire 757-room, 5-hotel suburban portfolio at $192.5 million, or $254,000 per key. In addition to the price increase, the Company has secured a $10.0 million non-refundable deposit from the purchaser. The suburban West Coast portfolio sale is anticipated to close in July 2017, and is subject to customary closing conditions, with no assurance that this portfolio will be sold within the expected time frame, or at all.
The sale of the two suburban Washington, DC hotels represented a blended trailing economic capitalization rate of 7.4% based on the hotels’ net operating income for the twelve-month period ended December 31, 2016, and a hotel EBITDA multiple of 12.1x. The sale resulted in net proceeds of $60.1 million, with taxable gains on the sale approximating $20.0 million.
Exiting of Mystic Partners Joint-Venture
Additionally, Hersha transferred to its former joint-venture partner all of its partnership interests in the Hartford Marriott and the Hartford Hilton for $8.5 million, which represented a 100% recovery of the Company’s equity investment in these assets. The Company simultaneously assumed full ownership of the Mystic Marriott Hotel & Spa without any additional cash payment to the joint-venture partner.
Mr. Shah continued, “The liquidation of the Mystic Partners joint-venture adds the high-quality Mystic Marriott to our consolidated hotel portfolio, further simplifying our balance sheet and eliminating our exposure to full service assets in Hartford, CT. HHM assumed operational management of the Mystic Marriott at the end of 2015, and combined with our proactive asset management, has driven over a $1.0 million increase in EBITDA in the past 12 months. Moving forward, we expect to implement additional revenue and asset management strategies to drive profitability and further enhance the hotel’s value.”
Hersha Hospitality Trust (HT) is a self-advised real estate investment trust in the hospitality sector, which owns and operates high quality upscale hotels in urban gateway markets. The Company’s 51 hotels totaling 7,675 rooms are located in New York, Washington, DC, Boston, Philadelphia, Miami and select markets on the West Coast. The Company’s common shares are traded on The New York Stock Exchange under the ticker “HT”.