Hotel Industry News
601 Room Hilton Berlin Sold for $350 Million
Park Hotels & Resorts Inc. (NYSE:PK) today announced that it has closed on the sale of the 601-room Hilton Berlin located in Berlin, Germany, for gross proceeds to the joint venture owners of the entities that own the Hotel of 297 million, before customary closing adjustments.
Advanced Revenue Management Changes Everything
The steady climb in hotel occupancy rates and record-breaking RevPAR growth continues, albeit at a slower rate, even despite the emergence of some very real challenges to the hotel industry. These include the onerous commission structures imposed by online travel agencies (OTAs) and the effect of Airbnb and smaller online marketplaces operating in the so-called sharing economy.
Whats Hot (and Whats Not) in Hotel Marketing Right Now?
Here today, gone tomorrow. We all know hotel marketing moves at a rapid pace. Tactics that crushed it last year may no longer even be relevant today. So, whats worth exploring and expanding... and what needs to be jettisoned?
Crowne Plaza Farmington Hills Hotel Opens in Suburban Detroit
Everett House Partners announced that the 134-suite Crowne Plaza Farmington Hills, previously the Holiday Inn Farmington Hills, has recently opened.