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JLL Arranges $175 Million Sale of St. Regis San Francisco

JLL Arranges $175 Million Sale of St. Regis San Francisco

SAN FRANCISCO—JLL has arranged the sale of the St. Regis San Francisco on behalf of Marriott International. Qatar Investment Authority purchased the 260-key property for $175 million subject to a long-term management contract. International Director John Strauss and Vice President ...

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CBRE Forecasts Mixed Levels of Success for Hotels in 2017

CBRE Forecasts Mixed Levels of Success for Hotels in 2017

ATLANTA—The 2017 outlook for U.S. hotels offers mixed blessings, with near record occupancy levels projected while average daily room rates (ADR) are expected to continue leveling off. According to the recently released December 2016 Hotel Horizons forecast report, CBRE Hotels’ ...

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Best Western Adds First Executive Residency in Africa

Best Western Adds First Executive Residency in Africa

NAIROBI, Kenya—Best Western Hotels & Resorts adds its first Executive Residency by Best Western in Africa to Kenya’s capital city Nairobi, Executive Residency by Best Western Nairobi. Executive Residency by Best Western is an upper-midscale brand with flexible spaces, stylish ...

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10 Traits of an Ideal Revenue Manager

10 Traits of an Ideal Revenue Manager

With recent improvements in technology and a focus on acquisition cost, the defining characteristics of today’s ideal revenue manager have changed—and through our work at Charlestowne Hotels, we’ve identified a new wave of skill sets needed to hire industry-leading talent. ...

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Group Bookings Brighten Hotel Outlook

Group Bookings Brighten Hotel Outlook

NEW YORK—Committed occupancy and average daily rates (ADR) for the first quarter of 2017 are showing major signs of growth with group travel leading the way despite the continuing lag in transient booking pace in the fourth quarter of 2016, ...

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Rising Expenses Cut into Hotel Profitability

Rising Expenses Cut into Hotel Profitability

There are a lot of “double-edged sword” issues on the minds of hotel operators these days. Hotel occupancy has reached record levels, which is attracting the attention of developers and therefore the threat of new competition. Inflation and interest rates ...

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