Boosted by conventions, tourism and other nongambling industries, the Las Vegas hotel business has surged back from its recession doldrums. Tourism numbers have been setting records for three years and robust revenue and profit figures have been posted by MGM Resorts International, Las Vegas Sands Corp. and Wynn Resorts.
Extended Stay America expects to complete its $628 million renovation program within weeks and accelerate franchising talks over the second half of the year. A strong first quarter with 24 renovations brought the total overhaul to 608 properties.
As management contracts gain ground over historically more common lease agreements in Europe, investors are scrutinizing contract terms to ensure both profitability and brand reputation. The litany of terms includes operating fees, approval rights, operator guarantees and termination rights.
The 100-key Detroit Foundation Hotel, the conversion of a 1929 fire department headquarters, is a prime example of the trend toward adapting historical buildings for use as modern lodging. Hotel Emma in San Antonio, Texas, occupies a former brew house.
The owners of Quirk Hotel in Richmond, Va., will start construction on a second property in Charlottesville, Va., in 2018. The new boutique hotel will include a rooftop bar with a 360-degree view and will use the two historical buildings on the lot rather than demolish them.
This summer, Wincome Group will break ground on a $200 million hotel project in Anaheim, Calif., on the site of the Anabella Hotel. The developer is taking advantage of city tax incentives to build the 600-room property.
InterContinental Hotels Group wants to bring the Kimpton Hotels & Restaurants brand to Dubai, United Arab Emirates, within the next five years. IHG is recruiting investors and could sign a deal this year.
The travel industry must step up to build confidence in globalization against the growing isolationism of the political scene, Marriott International CEO Arne Sorenson told a gathering Wednesday. Listening to concerns about safety and immigration while providing data about realities are imperative, he said at the Travel & Tourism Council Global Summit in Bangkok.
The Sparkling Hill Resort & Spa in Vernon, British Columbia, Canada, boasts seven steam rooms and saunas, a peppermint-scented igloo room, hot tub that seats 30, cryo chamber, Kneipp hot/cold water stepping circuit, yoga studio and relaxation room. The spa menu features dozens of treatments, including maple sugar body scrubs.
The consulting firm Fizziology, which collects and analyzes social media chatter about hotels to distill top customer preferences, finds that what guests most want are wellness options, home-like conveniences and offerings that are true to the brand. "We also analyze macro and micro trends in the industry, and understand what key audiences -- foodies, young mothers, health enthusiasts, for example -- are driving those trends," Fizziology's Jen Handley said.
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