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October 26, 2012News for hotel and lodging professionals

  Front Desk 
  • Starwood posts net income of $170M in Q3
    Starwood Hotels & Resorts reported earnings of $170 million during the third quarter, up from $163 million in the previous year. Revenue during the quarter climbed 6%, to $1.46 billion. "Global revPAR grew nearly 5% in constant currency, despite a deceleration in the global economy," CEO Frits van Paasschen said. TravelPulse (10/25), Reuters (10/25) LinkedInFacebookTwitterEmail this Story

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  Business Update 
  • Wynn Resorts' Q3 profit declines to $112M
    Wynn Resorts posted net income of $112 million during the third quarter of 2012, compared with earnings of $127.1 million during the same period last year. Revenue remained flat at about $1.3 billion. Occupancy rates at Wynn resorts grew to 94.2% during the quarter against 93.7% a year ago, but revenue per available room and average daily rate declined 2% and 2.5%, respectively. TravelPulse (10/24) LinkedInFacebookTwitterEmail this Story
  • Trump Organization plans to ramp up Latin American expansion
    The Trump Organization is looking to expand its footprint in Latin American hotel markets, citing continued economic growth in the region. Potential targets include Argentina, Brazil, Costa Rica, Mexico and Uruguay, says Eric Trump, an executive vice president at the company. Trump notes strong demand at the Trump Ocean Club in Panama City, the company's first hotel outside the U.S. Bloomberg Businessweek (10/24) LinkedInFacebookTwitterEmail this Story
  • Other News
  Market Trends 
  • U.S. hotels saw improved metrics in third quarter, STR reports
    Data from STR Global show third-quarter performance by U.S. hotels improving across all key metrics, although growth in revenue per available room slowed slightly. Industrywide revPAR grew 5.1%, to $72, while average daily rate increased 3.9%, to $107.34, and occupancy grew 1.2%, to 67.1%, during the period. "Third-quarter revPAR growth was just over 5% -- the lowest quarterly increase the industry experienced since first quarter 2010. The slowdown in revPAR was primarily attributable to lower occupancy gains in the months of July and September," said Bobby Bowers, a senior vice president at STR. TravelPulse (10/25) LinkedInFacebookTwitterEmail this Story
  • Hilton looks to attract Chinese travelers to U.S.
    Hilton is seeking to build its profile in the growing market of Chinese travelers visiting the United States. Its Huanying (Mandarin for "welcome") program, which launched in August 2011, uses Mandarin-speaking staff, authentic Chinese breakfast options and menus printed in Mandarin to help make travelers find familiarity and comfort. Hilton also has 15 locations in China and expects to build dozens more in the coming years. "The idea is to encourage this rapidly growing outbound travel population from China, which is discovering the world, to travel with a brand they know," said Andrew Flack, a vice president at Hilton. Hotel Interactive (10/24) LinkedInFacebookTwitterEmail this Story
  • Other News
  Spotlight on Technology 
  • Other News
  Best Practices 
  • Column: How to bring back relationship-building in hotel sales
    The hotel sales front offers an array of opportunities for relationship-building with potential clients, writes Doug Kennedy of Kennedy Training Network. Personal touches such as sending handwritten notes and discussing requests for proposals over the phone help distinguish the property from the competition. Hospitality Net (10/24) LinkedInFacebookTwitterEmail this Story
  • Developer discloses details of proposed Philadelphia casino
    Bart Blatstein of Tower Investments wants to build a $700 million casino and entertainment complex in downtown Philadelphia that would be managed and operated by Hard Rock International. The project would include converting the former Inquirer building into a boutique hotel. The developer is eying Philadelphia's second casino license for the gaming facility, which would house up to 3,300 slot machines and 150 table games. "It's the biggest project that I will ever do. I will never do anything as game-changing and transformative as this. We want to create the best entertainment resort in the country," Blatstein said. American City Business Journals/Philadelphia/Natalie Kostelni blog (10/24) LinkedInFacebookTwitterEmail this Story
  Government Affairs 
  • Column: U.S. tourism industry is poised for growth
    Several new initiatives from the Obama administration mean that the United States is seriously developing its allure and accessibility for foreign tourists, writes columnist Gavin Landry. Changes in visa programs and the establishment of a new public-private entity aimed at increasing the U.S.'s global market share of tourism will provide a boost to the economy, he says. Research shows that the average Brazilian traveler coming to the U.S. spends $10,000, he notes. (10/24) LinkedInFacebookTwitterEmail this Story
  AH&LA News 
  • PCI compliance 101
    Credit card standards have changed, and if you don't change your policies, you could be putting your guests' private information at risk and incurring millions of dollars in damages. In response, AH&LA's Technology Committee created a thorough manual, The PCI Compliance Process for Hotels, making this complicated matter easy to understand and implement. Funded by the Foundation, AH&LA members can download their free copy. LinkedInFacebookTwitterEmail this Story
  • Get new supervisors up to speed
    Supervisory skills can help employees move quickly up the ladder to career success. The newly published fifth edition of Supervision in the Hospitality Industry (Ninemeier/Kavanaugh) available from the American Hotel & Lodging Educational Institute, includes access to additional online learning for key supervisory skills. For more information, visit LinkedInFacebookTwitterEmail this Story
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