Hospitality giant Marriott International has completed the spin-off of its fractional ownership and timeshare division, with equity shares of the new company, Marriott Vacations Worldwide Corporation, being distributed tax-free to Marriott International shareholders.
A new study commissioned by the city of Aspen and produced by former Aspen planning director Julie Ann Woods reveals that fractional ownership units in the Colorado ski resort have higher occupancy levels than traditional lodging alternatives. The study is based on interviews with hospitality industry professionals in the area, ...
(MARCO ISLAND, FL) -- Marco Island Marriott Beach Resort recently announced the expansion of its resort golf amenities with the addition of the 18-hole Hammock Bay Golf Course. The off-site facility, located only 10 minutes from the resort, is available exclusively to members and resort guests.
(POCONOS, PA) -- The historic Inn at Pocono Manor, recently recognized with a Three Diamond AAA ranking, is close to completing $5 million in restoration work on its prized property. As the New Year approaches, the Inn at Pocono Manor is completing a comprehensive renovation of the main lodge, which originally opened in 1902.
(DAVIE, FL) -- Out of commission since December 2008 as part of an Interstate 595 expansion, the former Arrowhead Golf and Country Club near Ft. Lauderdale has reopened following a complete redesign by golf course architect Harrison Minchew. The course's new owner, The Town of Davie, announced the course will now be called Davie Golf and Country Club.
According to STR's updated 2012 industry forecast, the U.S. hotel industry is expected to report smaller increases in all three key performance metrics for year-end 2012 than previously forecasted.
According to the October 2011 STR/McGraw Hill Construction Dodge Pipeline Report, the total number of active U.S. hotel developments in the pipeline comprises of 2,835 projects totaling 310,387 rooms. This represents a 9-percent decrease in the number of rooms in the total active pipeline compared to October 2010.
(MIAMI, FL) -- The development of the largest U.S. real estate development in eight years took an important step forward today when Resorts World Miami assumed the ownership of the Omni Center and introduced its President. The acquisition of the Omni Center, inclusive of the 527-room Hilton Hotel, 2,500 space car park, ...
According to STR, the U.S. hotel industry experienced increases in all three key performance metrics during the week ending October 29, 2011. In year-over-year comparisons for the week, occupancy rose 6.8 percent to 61.6 percent, average daily rate increased 4.7 percent to US$104.59, and revenue per available room finished the week up 11.8 percent to US$64.40.
(ROMEOVILLE, IL) -- Mistwood Golf Club, one of the premier public golf facilities in Chicago, is undergoing a major renovation project, which will include substantial changes to the Ray Hearn designed golf course, the addition of a new learning center, and plans for a future clubhouse. The renovations are already underway and the course will re-open in May 2012.
(MIAMI, FL) -- Interval International, a prominent worldwide provider of vacation services and an operating segment of Interval Leisure Group, Inc., recently reported that its U.S.-resident members own approximately 1.9 weeks of shared ownership vacation time or its equivalent, travel an estimated 22 nights per year solely for leisure purposes, ...
(BATON ROUGE, LA) -- Renaissance Hotels recently celebrated the official opening of the new 256-room Renaissance Baton Rouge Hotel. The opening marks the first newly constructed full service hotel to be built in Baton Rouge in more than 40 years. The new Baton Rouge luxury hotel is also the first Renaissance property to open in the greater Baton Rouge area.
The developers of The Residences at The Little Nell, a fractional ownership private residence club in Aspen, has submitted a bid to buy the Base Village project in nearby Snowmass Village. As well as Centurion Partners, the Crown family of Chicago, the owners of Aspen Skiing Co, have also submitted an undisclosed bid for the site.
Luxury vacation club Inspirato has raised $17.5 million in equity funding from a group of investors including New York Yankees baseball star Mark Teixeira.
According to STR, the U.S. hotel industry experienced increases in all three key performance metrics during the week ending October 15, 2011. In year-over-year comparisons for the week, occupancy rose 2.9 percent to 65.6 percent, average daily rate increased 4.3 percent to US$104.76, and revenue per available room finished the week up 7.3 percent to US$68.75.
(ORLANDO, FL) -- Hundreds of leaders from the timeshare industry will be convening this week at Orlando's Peabody Hotel for the annual Vacation Ownership Investment Conference organized by Interval International. One of the main messages sure to be told is the vacation ownership industry remains as viable as ever
According to STR, the U.S. hotel industry experienced increases in all three key performance metrics in the week ending October 8, 2011. In year-over-year comparisons for the week, occupancy rose 1.5 percent to 64.4 percent, average daily rate increased 2.8 percent to US$104.48, and revenue per available room finished the week up 4.3 percent to US$67.32.
According to the September 2011 STR/McGraw Hill Construction Dodge Pipeline Report released this week, the total active U.S. hotel development pipeline comprises 2,915 projects totaling 315,200 rooms.
