Lodging Econometrics: Dallas and Atlanta Lead U.S. Construction Pipeline
Category: Development, Finance & Development, Pipeline
According to the U.S. Construction Pipeline Trend Report by Lodging Econometrics (LE) for Q2 2023, the five markets with the largest hotel construction pipelines were Dallas with a record-high 184 projects/21,501 rooms, Atlanta with 141 projects/17,993 rooms, Phoenix with 119 projects/16,107 rooms, Nashville with 116 projects/15,346 rooms, and Los Angeles with 112 projects/17,797 rooms. The markets with the most projects currently under construction at the Q2 close were New York with 47 projects/8,201 rooms and
Omni Hotels & Resorts Introduces Brand Evolution and Changes Visual Identity
Category: Brands, Featured, Industry News
DALLAS, Texas—Omni Hotels & Resorts launched a brand evolution as it continues growth comprised of nationwide portfolio enhancements, service training, and marketing investments. Driven by Omni President, Kurt Alexander, the announcement signals a new era for the brand and marks the first shift in visual identity in more than a decade. “Over the last 60 years we’ve been creating elevated experiences inspired by remarkable destinations where guests connect and enjoy genuine hospitality,” said Alexander. “As
McKibbon Enters Acquisition Space With Purchase of a Hampton Inn & Suites
Category: Acquisitions, Finance, Finance & Development, Real Estate
TAMPA, Florida—McKibbon entered the hotel acquisition space, closing on the purchase of the Hampton Inn & Suites Clearwater/St. Petersburg-Ulmerton Road on August 1, 2023. The 128-key property was purchased as the initial portfolio investment for McKibbon Income Fund I, LP, an income-focused hotel investment fund developed to acquire existing select-service and extended-stay assets in markets throughout the Southeastern United States. The purchase represents the first in the pipeline of acquisitions for the expanding Tampa-based company.
The Blennerhassett Hotel Selects TPG Hotels & Resorts as Manager
Category: Industry News, Management
PROVIDENCE, Rhode Island—TPG Hotels & Resorts announced it has been selected to manage The Blennerhassett Hotel, located in Parkersburg, West Virginia. The 140-year-old, 84-room property has a signature restaurant, lounge, spa, and over 8,000 square feet of meeting space in eight spaces that can be tailored for corporate and lifestyle events. The property was purchased in 2019 by R&W Hotels, which is owned and operated by local Parkersburg businessmen Wayne Waldeck and Lee Eric Rector.
Pandemic Relief Protected: AHLA Secures Hotel PPP Loan Forgiveness
Category: AHLA, Industry News, Washington Dispatch
As hoteliers are all too familiar, the hospitality industry was among those hardest hit by COVID-19. When travel demand plummeted amid the extreme uncertainty the pandemic created, the Small Business Administration’s Paycheck Protection Program (PPP) was vital to keeping hotels across the country afloat. The program gave hoteliers the funds to pay staff, keep the lights on, and retain their assets as occupancy fell to historic lows. Back then, AHLA advocacy was instrumental in ensuring