Investors are relying on projected net operating income as a key determinant of value as opposed to in-place NOI, and are shifting their forecasted return to peak levels anywhere from three to five years out, according to a report from Cushman & Wakefield.
Investors now are considering the intrinsic value of a property, Eric B. Lewis, executive managing director, national practice leader in the hospitality and gaming group for Cushman & Wakefield, told HotelNewsNow.com in an exclusive interview.
Taj Hotels Resorts & Palaces rolled out 19 hotels to their new brand, Vivanta by Taj Hotels & Resorts, an upper-upscale product. This follows the highly successful launch of their upscale brand—The Gateway Hotel—exactly two years ago.
Sixteen Taj Hotels joined the three existing Vivanta by Taj hotels to create a brand that has an inventory of nearly 2,500 rooms. An aggressive expansion program is already in place that will see the brand grow organically to more than 30 hotels with more than 5,000 rooms during the next two years. The Vivanta by Taj portfolio includes Vivanta by Taj-President, Mumbai; Vivanta by Taj-Connemara; Vivanta by Taj-Fort Aguada, Goa; and Vivanta by Taj-Holiday Village, Goa, among others.
Gulf Coast Claims Facility administrator Ken Feinberg is urging all Florida hoteliers to submit oil spill claims directly to him, regardless of how far the property is from oil washing ashore. Some in the hospitality industry have had their claims rejected because of the proximity issue.
Christine Blank reports on the announcement for HotelNewsNow.com
Chris Cares and David Becher of RRC Associates are taking a closer look at how school vacation schedules influence the United States travel sector.
Among their findings: Four-year universities typically had longer and more diverse winter breaks, in some instances beginning a week earlier in December, and in most cases extending one to two weeks later into January. Seeking to capitalize on these extended breaks, some travel destinations (such as many ski resorts) actively market to university students in the latter parts of their winter holiday breaks, looking to fill an otherwise slack time in their business.
There seems to be a free Internet push for loyal customers, and it must be said: It’s about time.
Earlier this month, Hilton Worldwide began offering its HHonors Gold and Diamond members free high-speed Internet at hotels worldwide.
Now, Marriott Rewards will expand free high-speed Internet access worldwide as a benefit for Gold and Platinum Elite members who stay at JW Marriott Hotels and Resorts, Marriott Hotels and Resorts, Renaissance Hotels and The Autograph Collection as of 7 January 2011. Last May, Marriott Rewards began offering Gold and Platinum Elite members free high-speed Internet access at hotels in North and South America.
Who will be next?
Compiled by Stacey Higgins.