Hotel experts have all sorts of definitions for boutique hotels. “Not cookie cutter,” one said. “Chic,” said another. “100 rooms or less,” said a third.

But whatever the definition, big hotel chains and smaller boutique brands are planning to open many more of them in cities across the United States and overseas over the next few years.

Here is a sampling of the boutique or, as some refer to them, lifestyle hotels that are in the works. In December, Ian Schrager, an originator of the boutique concept, announced two new brands, as yet unnamed. These follow the collaboration he began three years ago with Marriott International to create the Edition boutique hotel brand. In September, Richard Branson’s Virgin Group, which includes the high-end Virgin Limited Edition hotels, announced Virgin Hotels, a new four-star hotel brand that will focus initially on the North American market.

More recently, the Wyndham Hotel Group signed an agreement with Chatwal Hotels and Resorts to franchise and manage Chatwal’s Night and Dream boutique brands, and Sonesta International Hotels announced its own brand, Kept. There is Modo, from the former chief executive of Nylo Hotels; and new boutique spinoffs by Sofitel and Swire Hotels. And John Pritzker, a member of the family that started Hyatt Hotels, who now owns a controlling interest in Joie de Vivre, a California boutique brand, plans to double the brand’s 34 hotels and open them across the country.

Read More in The Article Source in nytimes.com

Successful companies have to make the right decision. They must take the most profitable direction – whether that means buying, selling, or holding property. Recently, there is much discussion about if REITs are overpaying for real estate. According to reports from the latest NYU Hospitality Conference (June 5-June 7, 2011), private equity is pursuing different deals than REITs.

Private Equity

Historically, REITs focus on more stable properties. Of course, private equity can take risks and buy properties in need of repositioning.

Successful companies have to make the right decision. They must take the most profitable direction – whether that means buying, selling, or holding property. Recently, there is much discussion about if REITs are overpaying for real estate. According to reports from the latest NYU Hospitality Conference (June 5-June 7, 2011), private equity is pursuing different deals than REITs.

Private Equity

Historically, REITs focus on more stable properties. Of course, private equity can take risks and buy properties in need of repositioning.

Successful companies have to make the right decision. They must take the most profitable direction – whether that means buying, selling, or holding property. Recently, there is much discussion about if REITs are overpaying for real estate. According to reports from the latest NYU Hospitality Conference (June 5-June 7, 2011), private equity is pursuing different deals than REITs.

Private Equity

Historically, REITs focus on more stable properties. Of course, private equity can take risks and buy properties in need of repositioning.

Not just one – but two – Marriott brands are coming to a Manhattan tower – in a big way. In fact, the joint venture operating under a franchise agreement between Granite Broadway Development and Marriott International will be one of New York City's largest hotel ventures. Two new Manhattan developments – the 378-room Courtyard and 261-room Residence Inn Hotels – are expected to open towards the end of 2013.

New NYC Developments

The properties will be managed by Interstate Hotels and Resorts. Besides the two hotels, a 68-storey high-rise at Broadway and 54th Street will feature a restaurant and ground-floor shops. This massive project has been in the works for the last ten years.

Tallest NYC Lodging Property

John Fox, a senior vice president of PKF Consulting USA, has described the venture as "the largest new hotel project in New York since the 2002 opening of the 863-room Westin New York at Times Square." Of course, New York City is no stranger to huge hotel developments. In 2010, a 607-room Intercontinental hotel opened at 300 West 44th Street.

Granite Broadway Development and Marriott announced that the new building will be the tallest NYC property used strictly for lodging. PKF official, John Fox, backs up their claim. Fox explained that the new Marriott building at a height of about 753 feet is taller than the 682-feet Four Seasons Hotel on the north side of 57th Street between Madison and Park Avenues.

Courtyard and Residence Inn

Designed by Nobutaka Ashihara, the tower will have a main entrance on West 54th Street. The lobby for the Residence Inn will be on the building’s third floor. The Courtyard lobby will be located on the fourth floor. Courtyard guest rooms occupy floors 6-32. Residence Inn rooms take up floors 36-64.

Each hotel will have its own elevator banks. The project will include ground-floor retail space, a leased restaurant on the second floor, lounge and terrace with outdoor seating and Broadway views on the fifth floor, and a fitness center (available to guests of both hotels) on the 34th floor.

With its focus on corporate guests, The Courtyard will feature a contemporary design, flexible space, and a GoBoard - a 55-inch interactive touch screen providing guests with local information and news headlines. The Residence Inn, an extended-stay hotel, has guest suites with kitchens. Sitting above the Courtyard, Residence Inn will offer the development's best views of New York City and Central Park. No doubt, the entire project is well-positioned with its location and height.

Manhattan Hotels

Even though New York City is thriving with various hotel developments, the Marriott/Granite project is expected to flourish in Manhattan. Demand for NYC hotel rooms will continue to gain strength. By 2013, room rates are expected to regain their 2008 peak. Bjorn Hanson, the divisional dean of the Preston Robert Tisch Center for Hospitality, Tourism, and Sports Management at New York University, notes that the two Marriott hotels could reduce their annual operating expenses over 5% by sharing building facilities such as the fitness center as well as management and administrative staff and departments (housekeeping, marketing).

Marriott International

Marriott International owns 33 properties (including furnished apartments) under nine brands in Manhattan, Brooklyn, and Queens. The company manages about half of its hotels and the others are under franchise agreements. David Marriott (chief operations officer for the company’s eastern region - the Americas) says that New York is Marriott’s second-largest revenue generator in the United States. The New York Marriott Marquis is the company’s top revenue generator worldwide.

Granite Broadway Development

Granite Broadway Development, owned by the Gross family, have five Marriott hotels (one in Philadelphia, as well as Ghent, Belgium, and three in New York - the Courtyard New York JFK Airport, the Courtyard New York Manhattan/Times Square South, and the Residence Inn Manhattan/Times Square).

Two Marriott Brands Are to Share Space in Manhattan Tower

 

Image courtesy of hotels.uptake.com

Marriott Internation Says modestly lower than expected, especially in large group hotels in markets such as New York, Atlanta, Orlando and Washington.”

Rough day for hotel chains today, courtesy of Marriott.


In a press release announcing CEO Carl Berquist’s comments at  a J. P. Morgan conference in Las Vegas later today, Marriott boasted of strong international business, but said North American growth was “modestly lower than expected, especially in large group hotels in markets such as New York, Atlanta, Orlando and Washington.”

Unusual Share Moves

March 28 (Bloomberg) -- Shares of the following companies are having unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are as of 11:25 a.m. in New York.

Marriott International Inc. (MAR US) slid 6.5 percent to $35.17, the biggest decline in the S&P 500. The largest U.S. hotel chain expects first-quarter revenue per available room to rise about 7 percent, at the low end of the company’s forecast of 7 percent to 9 percent. North American demand has been below expectations, the Bethesda, Maryland-based company said.

Starwood Hotels & Resorts Worldwide, Inc. (HOT US) lost 3.4 percent to $56.77. Hyatt Hotels Corp. (H US) slumped 5 percent to $41.92. Host Hotels & Resorts Inc. (HST US) fell 3.6 percent to $17.08.

Read 1st Source: http://blogs.wsj.com/marketbeat/2011/03/28/marriott-says-n-amer-growth-not-so-hot-hotel-stocks-slump/

Read 2nd Source: http://www.businessweek.com/news/2011-03-28/industrial-services-schlumberger-starwood-u-s-equity-movers.html

 

 

Marriott Internation Says modestly lower than expected, especially in large group hotels in markets such as New York, Atlanta, Orlando and Washington.”

Rough day for hotel chains today, courtesy of Marriott.


In a press release announcing CEO Carl Berquist’s comments at  a J. P. Morgan conference in Las Vegas later today, Marriott boasted of strong international business, but said North American growth was “modestly lower than expected, especially in large group hotels in markets such as New York, Atlanta, Orlando and Washington.”

Unusual Share Moves

March 28 (Bloomberg) -- Shares of the following companies are having unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are as of 11:25 a.m. in New York.

Marriott International Inc. (MAR US) slid 6.5 percent to $35.17, the biggest decline in the S&P 500. The largest U.S. hotel chain expects first-quarter revenue per available room to rise about 7 percent, at the low end of the company’s forecast of 7 percent to 9 percent. North American demand has been below expectations, the Bethesda, Maryland-based company said.

Starwood Hotels & Resorts Worldwide, Inc. (HOT US) lost 3.4 percent to $56.77. Hyatt Hotels Corp. (H US) slumped 5 percent to $41.92. Host Hotels & Resorts Inc. (HST US) fell 3.6 percent to $17.08.

Read 1st Source: http://blogs.wsj.com/marketbeat/2011/03/28/marriott-says-n-amer-growth-not-so-hot-hotel-stocks-slump/

Read 2nd Source: http://www.businessweek.com/news/2011-03-28/industrial-services-schlumberger-starwood-u-s-equity-movers.html

 

 

Marriott Internation Says modestly lower than expected, especially in large group hotels in markets such as New York, Atlanta, Orlando and Washington.”

Rough day for hotel chains today, courtesy of Marriott.


In a press release announcing CEO Carl Berquist’s comments at  a J. P. Morgan conference in Las Vegas later today, Marriott boasted of strong international business, but said North American growth was “modestly lower than expected, especially in large group hotels in markets such as New York, Atlanta, Orlando and Washington.”

Unusual Share Moves

March 28 (Bloomberg) -- Shares of the following companies are having unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are as of 11:25 a.m. in New York.

Marriott International Inc. (MAR US) slid 6.5 percent to $35.17, the biggest decline in the S&P 500. The largest U.S. hotel chain expects first-quarter revenue per available room to rise about 7 percent, at the low end of the company’s forecast of 7 percent to 9 percent. North American demand has been below expectations, the Bethesda, Maryland-based company said.

Starwood Hotels & Resorts Worldwide, Inc. (HOT US) lost 3.4 percent to $56.77. Hyatt Hotels Corp. (H US) slumped 5 percent to $41.92. Host Hotels & Resorts Inc. (HST US) fell 3.6 percent to $17.08.

Read 1st Source: http://blogs.wsj.com/marketbeat/2011/03/28/marriott-says-n-amer-growth-not-so-hot-hotel-stocks-slump/

Read 2nd Source: http://www.businessweek.com/news/2011-03-28/industrial-services-schlumberger-starwood-u-s-equity-movers.html