DUBAI, UAE—InterContinental Hotels Group (IHG) has signed a new franchise agreement with Airport Hotel Limited that will see the Old Manor House at Plaisance Airport become Holiday Inn Mauritius – Plaisance Airport. The 140-room property will be the first Holiday Inn to open in Mauritius and will join IHG’s InterContinental Resort Mauritius, which opened in 2009. The agreement is a response to the need for a hotel at the airport driven by the ongoing growth
Marcus Hotels and Resorts Enhances Miller Time Restaurant Concept
Category: Food and Beverage, Hotel Restaurants and Bars
MILWAUKEE, Wis.—Marcus Hotels and Resorts has reintroduced its Miller Time Pub and Grill concept, creating a comfortable, neighborhood social spot while paying homage to its beer-inspired roots. Marcus Hotels and Resorts revealed the new Miller Time Pub and Grill concept at the restaurant’s original location at the Hilton Milwaukee in Milwaukee, Wis. this week. The company plans to open its second restaurant location at the Cornhusker, a Marriott Hotel in Lincoln, Neb., in August. Additional
IRVINE, Calif.—R.D. Olson Development broke ground on its latest hotel development, the 210-room Courtyard by Marriott Irvine Spectrum in Irvine, Calif. Executives from R.D. Olson Development, Irvine Company, architecture firm WATG, and Marriott International joined civic leaders from Orange County at the ceremonial groundbreaking. The new hotel represents the Southern California debut of Marriott’s latest Gen Next design and features an interior design theme that pays tribute to the rich history of the Irvine Ranch.
Making an Extended Stay Play
Category: Operations, Smart Strategy
Despite the shaky economy of the past few years, the extended-stay segment has managed to perform well. According to data from the Highland Group, extended-stay revenue per available room (RevPAR) increased 7 percent and rose to a nominal high of $58.80 in 2012, and rooms under construction doubled over the previous year. The outlook continues to look promising for the segment, with supply growth expected to be around 3 percent in 2013, making the extended-stay
The Top and Bottom Lines
Category: Market Reports
Developers are attracted to extended-stay (ES) hotels because of the relative simplicity of their operations and their high profit margins. Low levels of staffing combined with limited offerings of services and amenities allow for a significant portion of topline revenues to extend to the bottom line. Before the recession, properties in this segment would achieve net operating income ratios to revenue between 45 and 50 percent. During the depths of the recession, profit margins never