Author of www.HotelLawBlog.com
20 October 2006
Is it too good to be true? PricewaterhouseCoopers forecasts a 25.9 percent growth in lodging RevPAR for the three-year period ending in 2006. The forecast is based on Smith Travel Research’s reported 7.8 percent RevPAR increase in 2004 and 8.4 percent increase in 2005 combined with PricewaterhouseCoopers’ forecast of 7.7 percent RevPAR increase in 2006. This marks the largest three-year increase since 1982. But are there speed bumps ahead?
Articles Posted in Outlook and Trends
Las Vegas hotel mixed-use development — Waldorf=Astoria Residences
Author of www.HotelLawBlog.com
20 October 2006
Yesterday, I said that hotel mixed-use developers should pay attention to two breaking news items. One was Barry Sternlicht’s “1” Hotel and Residences. The other is Hilton’s plans announced October 18, 2006 to add Waldorf=Astoria branded Residences to the top of the Conrad Hotel Las Vegas. Both of these announcements emphasize the importance of brands in the hotel industry and creation of two high end brands by industry power houses in two very different ways. Sternlicht is creating a fresh, new eco-friendly brand from scratch. Hilton is seeking to build its brand from the base of an internationally recognized icon.
But beyond all that, why is this significant?
Hospitality Lawyer — Hotels in China, India and Mexico are capturing the imagination and resources of the hotel industry
Author of www.HotelLawBlog.com
18 October 2006
At the Arizona Hotel Conference in Phoenix a few weeks ago, I was struck by how it seemed that talk of hotel development in China, India, Mexico and Europe dominated so many conversations and conference presentations. Is this the beginning of new era of hotel development outside the U.S.?
Hospitality Law: Hotel spas — Illegal practice of medicine?
Author of www.HotelLawBlog.com
12 October 2006
Is your hotel spa practicing medicine without a license?
Mixing a spa with a hotel is not new. Spas are one of the fastest growing hotel amenities, and according to the latest PricewaterhouseCoopers study, approximately 40 percent of luxury and upper-upscale lodging projects under development in the US have spa facilities and services, compared to 27 percent of existing luxury and upper-upscale hotels that have spa facilities and services. But spa proliferation and consumer demands pose new legal problems for the owners and operators of spas and affiliated hotels or other properties.
CMBS Hotel Loans: Is that a train wreck ahead or just a “pig going through the python”?
Author of www.HotelLawBlog.com
4 October 2006
Please see “troubled hotel loans – workouts, bankruptcies & receiverships” for the latest articles on troubled hotels.
Hotel bankruptcy lawyers’ dreams come true?
Hotel loan workouts, hotel bankruptcies, and hotel receiverships have been scarce the past few years — approaching an all-time low. But that may be about to change.
Hotel Lawyer with pulse of the Phoenix conference — “Ebullient Foreboding”
Author of www.HotelLawBlog.com
22 September 2006
As a record 1,200 delegates gathered at The Lodging Conference held at the Arizona Biltmore in Phoenix this week, the mood might be best described as “ebullient foreboding.” According to Jones Lang LaSalle, we are seeing an unprecedented level of hotel transactions–more than $21 billion in the first six months of 2006 and more than all twelve months of 2005. And Smith Travel Research told us how well-positioned the industry is for sustained profitability and growth with continuing record RevPAR growth increases, demand growth still outpacing supply, and big barriers to entry.
Hotel Lawyer and Hotel Law Blog report from Phoenix — “Element”
Author of www.HotelLawBlog.com
19 September 2006
As a record 1,200 hotel industry members meet at The Lodging Conference at the Arizona Biltmore in Phoenix, Starwood Hotels & Resorts Worldwide held a special reception to announce the long-anticipated new name for its Westin extended stay product.
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This is Jim Butler, author of www.HotelLawBlog.com and hotel lawyer. Please contact me at Jim Butler at jbutler@jmbm.com or 310.201.3526.