| February 14, 2013 | News for hotel and lodging professionals |
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- Hyatt Hotels posts decline in Q4 earnings
Hyatt Hotels has reported earnings of $16 million during the fourth quarter compared with $52 million during the same period the previous year, as the chain's conventions business continues to underperform. "It seems like transient revenue was up 6.9%, but group revenue was up only 3.3%, which basically suggests that the group segment was a drag on earnings," said Nikhil Bhalla, an analyst for FBR Capital Markets. Total revenue during the quarter rose 1%, to $1 billion. Reuters
(2/13)      
| Market Trends | | |
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- N.Y. lenders open credit lines for hotel, other construction loans
Banks and lending firms in New York have opened up credit lines for multifamily rental buildings over the past year and a half or so. Now they are looking at commercial projects such as hotels, condos and selected office and retail ventures because the real estate market is slowly recovering and loan-default rates are declining. "There is plenty of debt capital available and as we bid on transactions there is a lot more competition than there was 12 months ago, and certainly more than 24 months ago," said Bill Cotter, a division manager at Wells Fargo Commercial Real Estate. The New York Times (tiered subscription model)
(2/12)
- Bellagio in Las Vegas offers a taste of sommelier life
Guests at the Bellagio in Las Vegas can take their appreciation of wine and turn it into comprehensive knowledge. The hotel, which has 17 sommeliers and three master sommeliers on staff, is offering seminars through its A Master Sommelier's Wine Classroom. Classes start Feb. 20 and the third Wednesday of every month at Michael Mina restaurant; they cost $80 for one or $200 for three classes. Las Vegas Sun
(2/12)
| Best Practices | | |
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- Column: How to make Valentine's Day a monthlong event
Hoteliers can stretch their Valentine's Day promotions and marketing throughout February to cash in on the romantic excitement of the season, writes Larry Mogelonsky, president and founder of LMA Communications. Concepts can be refreshed each week to center on a different romantic theme. "Make it a creative exercise with whatever team is involved and that excitement will reverberate through to the final presentation. Work with your marketing department to develop different packages for each seven day period," Mogelonsky writes. eHotelier.com
(2/14)
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- Work beginning at SLS Las Vegas
Conversion plans for the closed Sahara Hotel and Casino in Las Vegas are poised to forge ahead since developer SBE Entertainment has obtained $415 million in financing for the project. "I know these kinds of projects usually begin with an explosion. We've been on the property since it closed, maintaining the building and the facility. This week, we'll start the interior push," SBE CEO Sam Nazarian said. Las Vegas Review-Journal
(2/12)
| AH&LA News | | |
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Lodging CEOs talk diversity
The industry's top CEOs emphasize the business case for promoting and pursuing diversity, highlighting its importance to their workforce, guests and vendors. View the video and other resources to help drive new business.
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Statistics detail industry at large
The AH&LA Data Center, powered by Smith Travel Research, gives you access to the most comprehensive hospitality research, spanning national and state hotel statistics. There are valuable reports for hoteliers and hospitality suppliers, AH&LA property and corporate members get generous discounts on reports to optimize their operational strategy, and allied members get free reports to generate leads.
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