Thursday, June 17, 2010

“Council approves increase to transient lodging tax” plus 3 more

“Council approves increase to transient lodging tax” plus 3 more

Council approves increase to transient lodging tax

Posted: 17 Jun 2010 06:16 PM PDT

Dem gov hopeful wins Hawaii hotel group support

Posted: 17 Jun 2010 07:15 AM PDT

HONOLULU (AP) -- Democratic gubernatorial candidate Mufi Hannemann has won the support of the Hawaii Hotel and Lodging Association.

The organization that represents 170 hotels, condos and other lodging businesses announced the endorsement Wednesday.

Association president Murray Towill cited Hannemann's executive experience as mayor of Honolulu since 2004 and before that, as head of a state business and economic development agency.

Towill says neither former U.S. Rep. Neil Abercrombie, Hannemann's rival for the Democratic nomination, nor Republican Lt. Gov. James "Duke" Aiona, were interviewed.

Hannemann calls the endorsement significant because it comes from a statewide business group. He says it will complement his backing from labor groups.

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Momentum Continues for Starwood's Select Service Group as Aloft, Element, and Four Points by Sheraton Brands Take Fast ...

Posted: 17 Jun 2010 12:16 PM PDT

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CHICAGO--(BUSINESS WIRE)--From the AAHOA Lodging Conference in Chicago, Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT - News) today announced that the opening of Aloft Winchester in Winchester, Virginia earlier this month marked the opening of Starwood's 200th select-service property worldwide, contributing to a growth trajectory for the group of 56 percent in the last three years.

Starwood's select-service brands include Aloft, Element, and Four Points by Sheraton, whose distinct personalities have proved to be hits with travelers and Starwood partners alike. With 1,000 Starwood properties now open in nearly 100 countries, Starwood's select-service brands are a significant part of that momentum.

"Along with the fact that we have three great brands, our select-service brands have connected with both travelers and partners because they offer precisely the right products and experiences at the right time," said Simon Turner, President of Global Development for Starwood. "With the appetite for these brands growing in some of the most important emerging markets, the future looks very bright for Aloft, Element, and Four Points."

In 2009, Starwood created a dedicated Specialty Select Brand group to optimize support for franchise owners and hotels. A separate unit remains fully dedicated to Starwood's Full Service franchise hotels, including Le Meridien, The Luxury Collection, Sheraton and Westin.

"With Aloft's forward design sensibility, Element's eco-chic positioning, and the timeless, stylish comfort of Four Points, we've awakened a category that wasn't necessarily known for originality," said Brian McGuinness, Starwood's Senior Vice President, Specialty Select Brands. "We continually hear from guests and partners that we've brought something truly fresh into select service, and that's been key to the global success of these brands."

  • Aloft, the sizzling, tech-savvy brand that has rocked the U.S. hospitality industry, will debut in Europe and India this year, with three Indian properties planned for 2010 alone. Aimed at the next generation of traveler, the design-led, social-experience Aloft brand has enjoyed the fastest ramp-up of any brand in hotel history.

    As a young, tech-driven society, India will become a key market for Aloft's development outside of the United States. Europe's first Aloft hotel will open its doors in Brussels in September, near the heart of the Belgian capital and European Union hub. And stateside, Aloft will open five hotels this year including two New York City properties – one in Brooklyn, the other in Harlem. Aloft became the talk of the hospitality industry by going global while in launch mode, opening China's Aloft Beijing Haidian and Aloft Abu Dhabi in the United Arab Emirates in the brand's first 15 months and now has more than 40 hotels open worldwide since its June 2008 debut.

  • Element, Starwood's trailblazing eco-chic boutique brand, recently announced that its seven U.S. hotels have earned some of the highest Overall Satisfaction scores from guests of any properties in the Starwood family for the past year. In October, Element is set to debut in New York City with the opening of Element Times Square West.

    Designed to be "green from the ground up", Element seamlessly blends sustainable smart design, inspiring public spaces, chic, spacious suites and modern amenities for a compelling, no compromise experience. Element made history when it launched as the first major hotel brand to mandate that all U.S. properties pursue the U.S. Green Building Council's LEED certification.

  • Four Points by Sheraton recently opened its 151st hotel and the rapidly expanding brand will continue launching in dynamic business and travel hubs outside the U.S. this year. By 2013, Four Points is slated to open 10 new properties in China, where it already operates ten hotels. Four Points will also debut in the key markets of Pune, India and Lagos, Nigeria this year; stateside, Four Points is scheduled to open 10 new hotels by summer 2011.

    A billion-dollar rejuvenation, along with a hugely popular "no nickel and diming" platform, has helped propel Four Points to become one of Starwood's fastest-growing brands. The Four Points promise of "simple pleasures" – great local craft beer, free bottled water, free and fast high-speed Internet access, and a great night's sleep – has also made the brand a massive hit with travelers worldwide.

About Starwood Hotels & Resorts Worldwide, Inc.

Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with 1000 properties in nearly 100 countries and territories with 145,000 employees at its owned and managed properties. Starwood Hotels is a fully integrated owner, operator and franchisor of hotels, resorts and residences with the following internationally renowned brands: St. Regis®, The Luxury Collection®, W®, Westin®, Le Méridien®, Sheraton®, Four Points® by Sheraton, and the recently launched Aloft®, and Element SM. Starwood Hotels also owns Starwood Vacation Ownership, Inc., one of the premier developers and operators of high quality vacation interval ownership resorts. For more information, please visit www.starwoodhotels.com.

(Note: This press release contains forward-looking statements within the meaning of federal securities regulations. Forward-looking statements are not guarantees of future performance or events and involve risks and uncertainties and other factors that may cause actual results or events to differ materially from those anticipated at the time the forward-looking statements are made. These risks and uncertainties are presented in detail in our filings with the Securities and Exchange Commission. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be attained or that results and events will not materially differ. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.). The names of actual companies and products mentioned herein may be the trademarks of their respective owners.

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Let’s Go Shopping | Retail Operations Contribute To Income And Guest Service | By Robert Mandelbaum

Posted: 17 Jun 2010 06:49 AM PDT

Retail operations within the lodging industry vary greatly. In limited-service, select-service hotels, and extended-stay properties the retail operation frequently consists of a kiosk located next to the front desk that sells magazines, snacks, drinks, and microwavable food. In large convention and resort hotels, the retail offerings can cover tens of thousands of square feet of leased out newsstands, gift shops, florists, and clothing stores. For the most part, retail operations provide just a small contribution to the total income of a hotel. However, to a greater degree, they do contribute to guest satisfaction and the competitive position of a property.

To examine the financial impact of retail operations on U.S. hotels, we analyzed the 2008 revenues, expenses, and income reported by 1,551 properties in the Trends® in the Hotel Industry database of PKF Hospitality Research. Our analysis segregated 1,307 hotels that operate their own retail operations, and another 244 properties that lease out their retail space. Properties with mixed operations (operated and leased), as well as concession revenue, were excluded from the analysis.

Hotel Operated

For those properties that operate their own stores, retail revenue averaged $502 per available room, or 0.9 percent of total hotel revenue. Retail revenue, measured on both a dollar per available room ($2,088) and percentage of total revenue basis (1.9%), is greatest at resort hotels. The combination of greater guest counts and longer lengths of stay appear to justify the operation of extensive retail shops at resorts.

The contribution of retail revenue to total revenue among the other property types falls into the tight range of 0.4 percent to 0.7 percent. At limited-service and select-service properties, small retail operations are in place to sell products that complement the increasing availability of mini-refrigerators and microwaves offered in the guest rooms.

When a hotel decides to operate their own retail stores, they also carry the burden of the associated costs. After deducting the direct operating expenses, the average hotel self-operated retail department achieves a 26.6 percent profit margin.

The greatest retail operating expense is the cost of goods sold (51.6% of department revenue), followed by labor costs (16.5%) and other direct operating expenses (5.3%). The relatively low labor cost ratio can be attributed to the retail operations at the small hotels that are staffed by front desk personnel.

Leased Operations

The practice of leasing retail operations to an outside vendor is appealing to hotel owners. By leasing out the hotel's gift shop, less time is required from hotel management, and the burden of the operating expenses is removed. Of course, with all leased operations a hotel does lose some control over guest service and depending on the structure of the lease, a share of the store's profits.

Not surprising, the highest incidence of leased-out retail operations was found at the traditional 200 to 300 room full-service hotel. The gross revenue ($330 PAR) at these hotels is high enough to attract an outside vendor, but not significant enough to warrant self-operation.

On average, the net income the hotel receives from the lease payments of retail stores averaged $147 per available room. Rental payment revenue was highest at resort hotels ($397) and lowest at the few limited-service properties ($15 PAR) that lease their operations.

Operate or Lease?

On the surface, it appears that the $134 PAR departmental profit earned by hotels that manage their own retail stores is fairly comparable to the $147 PAR in rent payments received by properties that lease retail operations. However, it should be noted that the $134 PAR departmental profit is before deductions for the hotel's undistributed expenses and fixed charges.

The decision to operate or lease a hotel's retail shops needs to be made on a case by case basis. For large resorts, the dollars can be significant, and a full financial analysis is warranted. However, for most properties, the income contributions are minor, so the financial differences between scenarios are minimal. In these circumstances, the decision needs to be made based on management preference and the impact on guest service.

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