PARK CITY, Utah—Driftwood Capital announced it secured $33 million in refinancing for the Sheraton Park City hotel in Park City, Utah, a 200-key hotel situated near ski trails, training facilities, and year-round outdoor amenities. Berkadia South Florida’s Managing Directors Michael Weinberg and Scott Wadler, along with their team members Alec Fox and Edmund Aramayo, arranged the five-year, fixed-rate CMBS loan through Goldman Sachs Bank USA. “The hotel, with its extensive meeting space compared to its […] The post Driftwood Capital Secures Refinancing for Sheraton Park City Hotel appeared fir ..read more

ARLINGTON, Virginia—Knowland and Amadeus presented the metrics from the companies’ Hospitality Group and Business Performance Index. Beginning with the first quarter of 2024, the Index focuses on year-over-year (YOY) performance. This first report shows the group health index is 102.3 percent YOY and six of the top 25 U.S. markets have achieved 110 percent compared to the same time in 2023. The Index combines event data from Knowland with hotel booking data from Amadeus’ Demand360+ […] The post Knowland and Amadeus Share Q1 2024 Performance Index Data appeared first on LODGING Magazine ..read more

After planning and preparing dream vacations and securing reservations, hotel guests count on the protection and security of their credit card financial data through cybersecurity measures the hotel has put in place. A data breach can cost thousands to millions of dollars to repair damage and restore security, depending on the type of data breach and the number of consumers affected. The reputation of the hotel chain is another matter entirely after occurrences of cyber […] The post 3 Ways Hoteliers Can Protect Data With Key Control Solutions appeared first on LODGING Magazine ..read more

Opened in January, the Origin Hotel Baton Rouge, a Wyndham Hotel, is housed in the Baton Rouge Savings & Loan Association Building, which is listed in the city’s National Register of Historic Places. The design of the 87-room property took inspiration from the 68-year-old building, while also providing a counterpoint to its historic style. “As a product of the International Style of architecture of the 1950s and ’60s, The Baton Rouge Savings & Loan Association […] The post A Louisiana-Style Guest Getaway appeared first on LODGING Magazine ..read more

AMSTERDAM—Booking.com released research with insights gathered from more than 31,000 travelers across 34 countries and territories, exploring the latest consumer attitudes, priorities, and influences related to sustainable travel. While the annual research revealed a continued sense of desire and awareness with 83 percent of travelers confirming that sustainable travel is important to them, new insights show a sense of weariness could be emerging globally, fueled by the ongoing challenges experienced by travelers to make more […] The post Booking.com: Annual Research Shows New Challenges With ..read more

Marriott International, Inc. has verified its near and long-term science-based emissions reduction targets with the Science Based Targets initiative (SBTi). SBTi is a global climate action organization that develops tools that allow businesses to set greenhouse gas (GHG) emissions reduction targets in line with data-driven methodology. Marriott is the largest global hospitality company to receive approval for both near-term and long-term science-based targets. The company has committed to reducing absolute scope 1 and 2 GHG […] The post Marriott Verifies Emissions Reduction Targets With SBTi a ..read more

NEWTON, Massachusetts—Sonesta International Hotels Corporation announced the opening of the Signature Inn Winnemucca located in Winnemucca, Nevada. The 40-room, upper-economy hotel offers guests proximity to the Winnemucca Golf Course, Humboldt Museum, and the casinos, and is located close to Interstate 80. “The conversion of the Signature Inn Winnemucca, the latest of several Signature Inn properties expected to open this year, is part of the rapid growth of Sonesta’s portfolio,” said Keith Pierce, EVP and president […] The post Sonesta Opens Signature Inn Winnemucca appeared first on LODGING ..read more

NEWPORT NEWS, Virginia—Mumford Company announced the recently completed transaction of the TownePlace Suites in the Memphis suburb of Southaven, Mississippi. Steve Kirby and Ed James, Mumford’s managing principals; Justin Pinkard, principal, and John James, senior associate in the Atlanta office represented the seller, Peachtree Group. The purchaser was Southaven Hotel Investment Group, LLC, an affiliate of ARK Development. Kirby said, “It was a pleasure to represent Peachtree Group once again. This was our third transaction […] The post Mumford Company Completes TownePlace Suites Southaven Tr ..read more

A modernized payment strategy helps hoteliers deliver a superior guest experience, improve operational efficiency, control costs, and mitigate risk of a cybercrime. In short, hoteliers enhance their resilience in a competitive and challenging industry by implementing an optimized payment process.  U.S. Bank recently released a Payment Strategy Report, Build Resilience With a Strong Payments Strategy, its second annual survey of 250 finance professionals that reveals the importance of a forward-thinking payments strategy and highlights the […] The post Can an Advanced Payments Strategy Sup ..read more

Over the past four years, utility costs at U.S. hotels have increased at a pace greater than total operating revenue. As a result, utility department expenses increased from 2.9 percent of total revenue in 2019 to an estimated 3.3 percent in 2023. As hotels have struggled to recover from the pandemic, any rise in cost ratios is an area of concern for owners and operators. The good news is that the pace of growth appears […] The post Controlling Utility Costs: Volatile Market Conditions Call for a Focus on Contracts and Energy Consumption appeared first on LODGING Magazine ..read more