“Tourists, execs flock back to O.C. hotels” plus 1 more

Tourists, execs flock back to O.C. hotels

Posted: 19 Jan 2011 11:35 AM PST

Tourists, execs flock back to O.C. hotels

January 19th, 2011, 11:23 am · 4 Comments · posted by Jon Lansner

Grand Californian in Anaheim

Local hotels were filling up last fall as the tourism trade slowly recovers from the recession as vacationers and business travel once again.

The lodging experts at Colliers PKF report that Orange County hotels in October — latest stats available — saw room rates rise 1.2% in a year (that's $1.62 a night) while 71.5% of their rooms were filled vs. 69.3% the year earlier. Also …

As a benchmark: Orange County room rates tumbled 13% in all of 2009 as just 67% of local hotel rooms were filled.
Speaking of pricing, latest month's rate of change for room rates of +1.2% compares to -1.4% for the year-to-date.
Latest vacancy rate of 71.5% compares to 71.7% for year-to-date.
Latest month's year-to-year rate of change in occupancy rate of +3.2% compares to +5.7% for the year-to-date.
All told, countywide "Revpar" — a key hotel cash-flow measure tracking rates and occupancy — was up 4.5% for the latest month vs. a year ago. Revpar's rising 4.3% year to date.
For this latest month, the pricest rooms were in Surf City while North O.C. offered on average the cheapest nights.
Fewest vacancies in the county were in Anaheim while Newport Beach had the emptiest hotels on average around the county.
By region for the latest month, 5 of the 7 slices of the county PKF tracks had year-over-year room rate gains; 4 of the 7 slices had occupancy gains; and 5 of the 7 has "RevPar" increases.

Nationwide, Colliers PKF sees continued improvement for hotel owners in 2011, forecasting a 2.2% increase in occupancy as room rates rise 3.9%.

Note: Chart below shows the month's average room rate; year's change in rates; occupancy (occ.) and year's change; plus the year's change in "revpar" (Rev. ch.)

Region	Rate	Year's chg.	Year-to-date chg.	Occup.	Year's occ. chg.	Year-to-date chg.	Year's rev. chg.
Anaheim	$131.52	-2.0%	-2.1%	74.2%	+5.2%	+2.4%	+3.1%
Costa Mesa	$108.83	+1.3%	0.1%	70.5%	-4.8%	+5.9%	-3.6%
Airport area	$101.95	+0.9%	-1.2%	71.9%	-2.1%	+6.9%	-1.2%
North O.C.	$93.39	+0.5%	-2.9%	70.1%	+1.0%	+6.2%	+1.6%
South O.C.	$179.16	-1.2%	-5.9%	69.8%	+14.1%	+10.2%	+12.8%
Newport Beach	$171.66	+7.2%	3.0%	65.4%	-0.3%	+11.6%	+6.9%
Surf City	$196.92	+8.9%	0.3%	66.9%	+10.3%	+11.4%	+20.1%
All O.C.	$133.04	+1.2%	-1.4%	71.5%	+3.2%	+5.7%	+4.5%

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Interstate Hotels & Resorts Has Opened and is Now Managing the New Crowne Plaza Charleston Airport Convention Center ...

Posted: 19 Jan 2011 05:58 AM PST

Hotel Converted to New Brand Following $13 Million Upgrade and Repositioning

Press Release Source: Interstate Hotels & Resorts, Inc. On Wednesday January 19, 2011, 8:58 am EST

CHARLESTON, S.C. & ARLINGTON, Va.--(BUSINESS WIRE)-- Interstate Hotels & Resorts, the United States' largest independent hotel management company, today announced that it has opened and is now managing the new 166-room Crowne Plaza Charleston Airport Convention Center in South Carolina. The hotel has completed a major, $13 million renovation and reflagged to become the first Crowne Plaza-branded hotel in Charleston. The hotel is owned by Barclay Hospitality Services Inc., a subsidiary of Inland American Lodging Group Inc.

"This brings to 12 the number of hotels we now manage for Inland, and we consider this contract a gratifying vote of confidence in our ability to continue generating superior returns for them," said Thomas F. Hewitt, Interstate's chairman and chief executive officer. "We look forward to building on our relationship with Inland with additional developments in the future."

"Interstate helped shepherd the hotel through the transition to a new brand," said Craig Lambert, senior vice president asset management, Inland. "The property has re-opened with a strong book of business, and, as the first Crowne Plaza hotel in Charleston, we expect it to rapidly assume a leadership position."

Located at 4831 Tanger Outlet Blvd. in North Charleston, S.C., the five-story Crowne Plaza Charleston Airport Convention Center is convenient to the Performing Arts Center, Charleston Convention Center and Tanger outlets. The hotel also is a short distance from Charleston's beautiful beaches, world-class golf, historic homes and plantations.

The property features complimentary airport shuttle service to nearby Charleston International Airport, a 24-hour business center, high-speed wireless Internet access throughout the hotel and more than 5,000 square feet of flexible meeting space, with an additional 5,500 square feet of outdoor function and event space. In addition, there is an outdoor pool, Precor Fitness Center and onsite Sweetgrass Restaurant & Porch, serving freshly prepared Southern Cuisine made with locally grown produce. Guest rooms offer the Crowne Plaza Sleep Advantage® Program, which provides signature luxurious bedding, eye masks and earplugs.

"Interstate has in-depth expertise in repositioning hotels," said Leslie Ng, Interstate's chief investment officer. "We believe the Crowne Plaza brand will perform well in this market and this location."

About Interstate Hotels & Resorts, Inc.

Interstate Hotels & Resorts, Inc, a wholly owned subsidiary of a 50/50 joint venture between subsidiaries of Thayer Lodging and Jin Jiang, is the nation's largest independent hotel management company based on revenue managed. The company and its affiliates manage and/or have ownership interests in 245 properties with approximately 52,000 rooms in 36 states, the District of Columbia, China, Russia, India, Mexico, Belgium, Canada, Ireland and England. The company has ownership interests in 56 of those properties, including six wholly owned assets. In 2010, Interstate Hotels & Resorts pioneered the first independent hotel management company in China, Interstate China Hotels & Resorts, when it formed a joint-venture partnership with Jin Jiang Hotels, China's leading hotel operator and developer.

Interstate offers third-party hotel management on a global basis, providing the resources and infrastructure necessary for comprehensive hotel management operations, including sales and marketing, revenue management, food and beverage operations, e-commerce, accounting, and design and construction project management services for hotel owners and developers seeking a proven and experienced hotel management company.

Additional information about Interstate is available at the company's website: www.ihrco.com. For information about the new Charleston Crowne Plaza, visit the hotel's website, www.crowneplaza.com/charlestonsc, or call the hotel direct at (877) 747-7301.

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Hotels Lodging

Wednesday, January 19, 2011