Industry News

When I first started out in hotel brokerage back in the late 1980s, the market was unsophisticated and had not adopted the fiduciary focus that was required to establish trust. Consequently, the term hotel “broker” had mostly a negative perception. However, over the past 35 years, many brokers have moved into the role of trusted advisors, who passionately make paramount their fiduciary responsibilities. As a trusted advisor, the broker adds significant value for owners in

As a result of a significant spike in the cost of raw materials following the pandemic, as well as a steady increase in interest rates making it more difficult to finance projects, hotel construction has slowed to a crawl within the past year. Nevertheless, while development executives acknowledge the aforementioned obstacles, they remain hopeful that some of the factors previously constricting new-build projects will begin to loosen up going forward. In fact, according to STR,

PLANO, Texas— Aimbridge Hospitality, a leading global hospitality company, has assumed management of 71 hotels previously operated by Houston-based Terrapin Hospitality. With over 8,100 rooms in 21 states, the diverse portfolio is national in scope with representation in the upper midscale and upscale segments across all major brand companies. Joining Aimbridge Hospitality’s Select Service Division, these hotels will benefit from the impact of the industry leader’s deep bench of industry talent, a specialized operational approach

SAN FRANCISCO—Duetto released its revenue optimization product, Duetto Advance, at ITB Berlin. With event demand intelligence ingested from PredictHQ, the introduction of Advance advances Duetto’s products in revenue management tech. “Duetto Advance enables hotel revenue teams to optimize rates in real-time, using clean, usable data delivered in a visually actionable dashboard customizable to your revenue strategy needs. This is truly an industry first for our field,” said Darren Koch, chief product officer, Duetto. “In today’s

COLUMBUS, Ohio—Red Roof will open 50 properties—new builds and conversions—in 2023, representing 60 percent year-on-year growth. The company attributes this growth to continued demand for the brand. As the company celebrates a half-century of serving guests in 2023, it is continuing to adapt to the hospitality environment where both guests and hotel operators are facing economic pressures. Red Roof grew its revenue in 2022, which increased 6.9 percent year over year. “Our model works, and

Hotel industry consultant Bruce Baltin passed away at age 79 earlier this month. He is survived by his wife, Tammi Baltin; his brother, Mark Baltin; his sister, Suzanne Jacobs; and his sons, Steven Baltin and Brian Baltin. Baltin spent his entire career as a hotel consultant. He returned to PKF Hospitality Group as a director in the U.S. office in 2022, following a long career with the firm that began in 1970. Baltin became a