NEW YORK—Loews Hotels & Co named Dan Flannery as chief operating officer (COO). Flannery will draw on more than four decades of hospitality industry experience to lead all aspects of operations for the 25-hotel company. As COO, he is responsible for developing and implementing strategies to enhance operational efficiency, improve guest experiences, and drive overall business growth. Flannery will be focused on delivering service, optimizing business unit profitability, and ensuring alignment and execution of strategic
WASHINGTON—U.S. hotels are projected to generate record levels of federal, state, and local tax revenue this year while paying employees historic totals of wages, salaries, and other compensation, according to state-by-state projections released today by the American Hotel & Lodging Association. The data show hotels are projected to generate a total of nearly $83.4 billion in tax revenue in 2024. The 10 states projected to generate the highest hotel tax revenue in 2024 are: California
ORLANDO, Florida—Texas hotelier Miraj S. Patel, MBA, CHO, CHIA, was named the newest Chairman of the AAHOA (Asian American Hotel Owners Association) 2024-25 Board of Directors, and the youngest serving in this position in AAHOA’s 35-year history. Patel became Chairman at the conclusion of the 2024 AAHOA Convention & Trade Show in Orlando, Florida, which set a record level of exhibiting vendors and welcomed nearly 6,500 attendees. “It is an honor to serve America’s hotel
2024 Outlook: Profit Trends Should Stabilize, Despite Lingering Challenges
Category: Featured, Finance & Development, Market Reports
While there are still many unknowns regarding the economy, STR’s data points to further stabilization for the U.S. hotel industry. Aligned with record highs in ADR and RevPAR, total revenues and profits were strong in 2023, well above 2022 and only slightly below 2019 levels. Total revenue per available room (TRevPAR) grew by 10 percent compared to 2022, and with a more normalized growth rate in total expenses per available room (up only $13 in
Rockpoint and Highgate Announce Sale of Scottsdale Plaza Resort and Villas
Category: Finance & Development, Financing, Real Estate
BOSTON, Massachusetts, and SAN FRANCISCO, California—Rockpoint and Highgate announced the sale of the Scottsdale Plaza Resort and Villas, a historic hotel in Paradise Valley, Arizona. Terms of the transaction were not disclosed. Centrally located in Paradise Valley, the Scottsdale Plaza Resort and Villas is a 404-room hotel with more than 50,000 square feet of event space, five pools, tennis courts, a fitness center, and spa amenities. The hotel is located in close proximity to Old
