| January 4, 2013 | News for hotel and lodging professionals |
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- 3 Marriott hotels are sold for $21M
Lightstone Value Plus Real Estate Investment Trust has announced its acquisition of three hotels: a Fairfield Inn & Suites by Marriott and a SpringHill Suites by Marriott in West Des Moines, Iowa; and a Courtyard by Marriott in Willoughby, Ohio. The total purchase price was $21 million. HotelsMag.com (free registration)
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| Business Update | | |
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| Market Trends | | |
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- Conversion offers a second life for distressed hotels
Owners of underperforming hotels may consider marketing their property for potential conversion as investor interest in adaptive-reuse projects grows. Hotels can be repurposed as student housing, condominium properties or assisted-living facilities depending on the area's market, this feature says. HotelNewsNow.com
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- Abu Dhabi, UAE, hotel market expected to be "subdued" in 2013
While the outlook for tourism in Abu Dhabi, United Arab Emirates, looks good in the long run, it may not be a year of growth in the market, this feature says. Occupancy declined 6% for the year, to 65%, average room rates are down 8%, and revenue per available room decreased 13%, the Abu Dhabi Tourism & Culture Authority reports. "The long term prospects for the market remain strong, with the continued expansion of Etihad and the airport, and major investment in new leisure attractions. These projects will however take time to generate additional demand and the hotel sector is likely to remain subdued in 2013," says a Jones Lang LaSalle report on HotelierMiddleEast.com. Hotel Management online
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| Best Practices | | |
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- N.D. oil boom spurs hotel construction
North Dakota's hotel-development pipeline continues to expand in an effort to meet the population boom caused by the state's flourishing oil industry. Short- and long-term budget properties are thriving as they accommodate oil workers in need of temporary lodging. Economy and midscale properties "can be built quickly and are aligned with the daily commute an employee is making. It doesn't mean that nicer luxury hotels won't be built later, but what you'll see out there now are midscale and economy hotels," said Bruce Ford, a senior vice president for Lodging Econometrics. Hotel Interactive
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| AH&LA News | | |
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Pool lift deadline approaching

Review your compliance needs in advance of the January 31, 2013, ADA pool and spa accessibility deadline. In May 2012, the Department of Justice (DOJ) granted a one-year extension and issued two guidance documents related to its interpretation of the requirements for pool and spa accessibility in the 2010 Standards for Accessible Design. Details on what properties need to consider when coming into compliance can be found here.
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Strengthen expertise, affect industry change
Sit side-by-side with industry professionals working in your same capacity in a forum dedicated to furthering your specialty. AH&LA members can participate in more than 30 committees, ranging from HR to technology and F&B and everything in between. Most meet twice a year and there's no cost to join. Learn more at www.ahla.com/committees.
| Editor's Note | | |
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Correction
A headline and summary in Thursday's brief misstated the number of properties Summit Hotel Properties recently acquired. Summit has closed on three hotel purchases and has sold the Courtyard by Marriott in Missoula, Mont. SmartBrief regrets the error.
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- Thursday, December 27, 2012
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