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Beating the Budget

Beating the Budget

Hotel managers achieved the winning formula in 2015—they exceeded their budgeted revenue projections while concurrently spending less than expected to operate their hotels. The result was a 2.2 percent profit surplus compared to budget. As general managers, controllers, and directors ...

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Ashford Closes on SpringHill Suites Gaithersburg

Ashford Closes on SpringHill Suites Gaithersburg

DALLAS—Ashford Hospitality Trust has announced that it has closed on the sale of the 162-room SpringHill Suites Gaithersburg in Gaithersburg, Md. for approximately $13.2 million ($81,000 per key). The purchase price for the SpringHill Suites Gaithersburg represents a trailing 12-month ...

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Investors Cautiously Optimistic About African Hotels

Investors Cautiously Optimistic About African Hotels

KIGALI, Rwanda—Investor sentiment for hotels in Sub-Saharan Africa remains positive despite economic headwinds in key markets, according to the latest JLL research into the sector. The long-term outlook continues to be strong and is driven by positive economic, demographic and ...

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Fraudulent Use of Chargeback Rights

Fraudulent Use of Chargeback Rights

The mantra of many hotel owners striving to provide customers with excellent service is, “The customer is always right.” But what happens when the customer is wrong? The hotel industry experiences one of the highest average chargeback ratios among all ...

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Hunter Hotel Advisors Closes on Sale of Fairfield Austin

Hunter Hotel Advisors Closes on Sale of Fairfield Austin

ATLANTA—Hunter Hotel Advisors announced today that their Los Angeles office represented Calif.-based Excel Hotel Group and the purchaser in the sale of the Fairfield Inn & Suites Austin Northwest in Austin, Texas. Built in 2014, the four-story hotel was purchased ...

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Moody’s Adjusts Lodging Outlook to Positive

Moody’s Adjusts Lodging Outlook to Positive

NEW YORK—Moody’s Investors Service has revised the outlook for the U.S. lodging and cruise industry to stable from positive reflecting the expectation adjusted EBITDA growth will slow in 2017, the ratings agency says in a report. The outlook reflects expectations ...

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