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Dual-Branded Hotel Heading to Kansas City, Tenn.

Kansas City, Tenn., is on track to get its first new-build hotel since the Vista International opened in 1985, according to the Kansas City Star. The development will take over the former Prestige Motors building at 1535 Baltimore Ave. in the ...

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Global Corporate Bookings Up Year Over Year

Global Corporate Bookings Up Year Over Year

DALLAS—Global corporate bookings grew 5.5 percent over 2012’s level in July, according to Pegasus Solutions, a processor of electronic hotel transactions. The promising uptick in business travel was accompanied by substantial leisure demand that paled in comparison to strong gains ...

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Simmons Hospitality Institutes New Mattress Recycling Initiative

Simmons Hospitality Institutes New Mattress Recycling Initiative

ATLANTA—Simmons Bedding Company and its Hospitality Division (Simmons Hospitality) announced the implementation of a new mattress recycling program. The company recently partnered with Global Sustainability Solutions (“GSS”) to handle recycling services for hospitality sales. The new Simmons Hospitality/GSS program will ...

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Area of Protection

Area of Protection

Area of protection (AOP) is a negotiated geographic area of exclusivity that a new franchisee sets up with a franchisor that blocks new, competing units from being placed nearby without the franchisee’s approval. AOP agreements are critical when opening a ...

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Mezzanine Debt

Mezzanine Debt

Mezzanine loans are back in vogue with hotel investors and developers turning to this financing tool for their latest acquisitions, recapitalizations, and leveraged buyouts. “Senior lenders are getting more aggressive,” says Geoffrey Davis, president and senior principal of HREC Investment ...

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