| November 3, 2009 | News for hotel and lodging professionals |
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- Questions arise about whether negotiated hotel, airline rates will stick
Each year at about this time, travel-management companies negotiate hotel and airline rates for the following year for the corporate clients. Last year, economic chaos surrounded the annual ritual, prompting rates to be renegotiated several times. Now, as the travel managers are negotiating rates, many industry insiders are wondering whether the rates will stick or continually be renegotiated as they were last year. The New York Times
(11/2)
      
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| Business Update |  | |
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- Starwood to sell Bliss spas for $100M
Starwood Hotels & Resorts is in a deal to sell its Bliss spa and product business to Steiner Leisure Ltd. for $100 million. Under the deal, Bliss and Remede spas will remain exclusive to Starwood's W Hotels and St. Regis Hotels, and the sale comes in addition to the planned sale of $125 million in other non-core assets that Starwood expects to close by the end of the quarter. The Wall Street Journal
(11/2)
- Fontainebleau developer to appeal legal decisions
Fontainebleau Las Vegas LLC will appeal a court decision rejecting its request for lenders to turn over funding that would allow it to restart construction on a Las Vegas resort. The developer will also appeal a ruling that would move the lawsuit out of bankruptcy court and into federal district court. Las Vegas Sun
(11/2)
- Delinquencies, defaults surge on loans linked to CMBS
The rate of defaults and delinquencies on the commercial mortgages that underlie CMBS issues increased to 4.52% in the last quarter, compared with 0.8% in the same quarter a year ago, and for the fifth consecutive quarter, no CMBS deals came to the market in the U.S., according to data provider Reis Inc. With $6.83 billion in past-due loans and a delinquency and default rate of 13.3%, hotel loans were the worst performers during the quarter. Bloomberg
(11/2)
| Market Trends | | |
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- Hotel Indigo to open in Asheville, N.C.
In what represents the first major hotel to open in Asheville, N.C., in two decades, a Hotel Indigo is set to launch this week. While other hotel and condo projects proposed for the city in recent years have faced controversy because of their size, the Indigo avoided problems by keeping the hotel at less than 100,000 square feet. Nine floors of the 13-story building will feature hotel rooms, topped by four floors of condominiums. Asheville Citizen-Times (N.C.)
(11/3)
- Investors hover as South Florida distressed assets hit market
South Florida could see a massive shakeup in hotel ownership in the near future as investors swoop in to buy up the area's many distressed hotels at deep discounts. Just as hotels have had to roll room rates back in what has become a buyer's market for travelers, hotel owners are having to slash prices to attract investors, and new owners who take over a property with lower loan payments may be in a better position to fund needed maintenance and repairs. The Miami Herald
(11/2)
- Hyatt goes public this week, becomes ticker symbol "H"
Hyatt Hotels Corp. will launch its initial public offering on Friday, taking on the ticker symbol of simply "H." A total of 38 million stockholder shares will be sold as the company strives to raise up to $988 million through the IPO, and following the IPO, more than 38 million common class A shares will remain, in addition to 130 million common class B shares. GlobeSt.com
(11/2)
| Spotlight on Technology | | |
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- Choice recruits Clarabridge to process customer comments
In an effort to boost its customer service, Choice Hotels has recruited text analytics software provider Clarabridge to process comments from nearly 1 million customers. Company officials say Clarabridge's Content Mining Platform allows representatives to tailor solutions to individuals, and Choice may extend the system to other areas, including its guest loyalty program. DMNews
(11/2)
| Best Practices | | |
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- Don't let difficult conversations catch you off-balance
Active communication is the key to handling awkward conversations, says Peter Bregman: ask lots of questions, actually listen to the answers and repeat what you're told to make it clear that you're paying attention. If you can make genuine communication your instinctive response to conflict, says Bregman, you can defuse most situations before they spiral out of control. HarvardBusiness.org/How We Work blog
(10/27)
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| The Buzz(CORPORATE ANNOUNCEMENTS)
More major hotel brands are offering The Wall Street Journal than ever before.
And it's no surprise. With increased circulation and greater reader demand, it's the new industry leader. For a free trial of The Journal in print or online and to find out how to offer the Journal to your guests, contact us at 877-WSJ-TRAVEL or visit info.wsj.com/travel4
Interested in learning more about advertising in the AH&LA SmartBrief? Contact Susan W. Kim at 703-909-7337 or skim@smartbrief.com.
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| Development | | |
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| AH&LA News | | |
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Search for bedding, furniture, uniforms and everything in between with the Ultimate Hotel Buyers Guide, the most comprehensive online hospitality directory, and request an RFP at no additional cost. Up to five vendors of your choice will then provide their costs and specifications straight to your inbox. Visit www.ahla.com to begin your free search.
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