Cambria Suites Opens Downtown Pittsburgh
By Dan Marcec
Launched in 2005, Choice Hotels International’s Cambria Suites was brought to life with strong growth plans for an all-suite, new development brand in the upscale sector. However, as is the case with many all-new brands that came online in the past few years, the current new construction climate has limited the number of Cambria hotels.
Yet, with the opening of the 142-room Cambria Suites adjacent to the CONSOL Energy Center in downtown Pittsburgh (home of the Pittsburgh Penguins NHL hockey team), Cambria adds an arrow to its quiver that could help spur further opportunities down the road.
Rodney Piatt, CEO of Horizon Properties Group — the property’s developer — explained in today’s press release on the hotel’s opening that he expects the project to be a key cog in revitalizing the Uptown section of the city.
In addition to the standard finishes and amenities afforded in each Cambria property — including its dining and gathering area Reflect; fitness center, pool and hot tub/spa area Refresh; and 24/7 convenience store Refill — the hotel also includes first-time features for the Cambria brand. An 1,80o-square-foot presidential suite and skyline views of a major city are both unavailable at any other Cambria Suites property — for now.
Because Cambria Suites is dependent on its high-quality prototype to create consistency in every one of its hotels, to this point it has not found a footprint in urban locations because of the challenges found in developing new structures in high-density markets. The brand’s 22 other hotels currently open are located chiefly in top suburban markets with a heavy business traveler demographics, so the exposure of a center city market and a diverse clientele cycling through the hockey arena will help improve the brand’s visibility and equity.
Choice Hotels CEO Steve Joyce reiterated the effect this property will have on the brand. “Not only does Cambria Suites Pittsburgh feature new and unique offerings, it is our first city property, and we are excited to expand the brand into more urban areas in the future,” he said.
Posted in Brand News, Development, Franchising News, Industry News.
– December 23, 2010
Need Assistance? SBA.gov Revamped to Help Business Owners
Today the U.S. Small Business Administration (SBA) officially unveiled its newly redesigned website, designed to support more strongly the administration’s efforts to offer resources to small business owners and entrepreneurs throughout the United States.
The new site reflects evolutions in interactive web tools, allowing an interface more accessible to today’s business owners and operators, but its updated features are not only limited to enhanced graphics and new content. The centerpiece of the redesign is SBA Direct, which offers a variety of personalization features according to business type, geography and needs. Through this customization, SBA Direct delivers targeted information on the user’s specified area, such as getting a business started, business growth strategies, and how to stay compliant with current laws and regulations, in addition to available SBA programs that can help businesses succeed — such as financial assistance, exporting and government contracting opportunities, counseling and training.
Read on for more information regarding the SBA’s website redesign and how it can help you as a business owner.
Continued…
Posted in Education, Finance, Internet.
– December 21, 2010
Northeast Hotel Portfolio Sells for $164 Million – Sign of the (Good) Times?
By Dan Marcec
Are deals like this a sign that hotel transactions are back? Or does is simply reflect the fact that high quality assets will trade in any economy?
No matter what it means on a grander scale, MCR Development LLC’s $164 million acquisition of ten hotels from Briad Lodging Group — comprising approximately 1,100 rooms — represents quite a significant sale for those eyeing the hopeful recovery of hotel property trades going into 2011.
Read on for more thoughts on this deal and what it means for those involved, as well as for the industry at large.
Posted in Investment, Transactions.
– December 20, 2010
Does An Optimistic Outlook Lead to Positive Results?
A little bit of opinion from the editor before year’s end.
By Dan Marcec
Taking a 30,000-foot view of the hotel industry is easy for us as members of the media. Much the hotel owners, we go to goliath brand and investment conferences, we hear the positive industry trends from respected analysts, and we see franchisors move their profits back into the black.
But what we see in our industry and don’t always report is the level of struggle hotel owners are still seeing at the property level. Attending ownership meetings across the country, we hear a song that remains the same: “I’m still having trouble with my debt service.” “We are only renting three rooms.” “I can’t afford to pay for my brand-mandated updates.” No one is denying that these experiences are still happening — it would take a serious amount of denial to do so — but at the same time, there is a palpable eagerness to provide an optimistic view on the state of the industry as we look toward 2011.
The question then begs: is the desire for an optimistic outlook productive for the individuals at the hotel level? Does a franchisor’s increasing overall numbers lead it to neglect the hotels on the underside of the average occupancy? If occupancy returns to a 60 percent average, and some hotels are pushing back into the 70s, that means on the flipside there are still many in the 40s.
The franchisors have a duty to their product to be optimistic. They can’t in good conscience go into an investors meeting and say “our brand is struggling, and there’s no end in sight.” They need to look at the top performers and decide what they’re doing right, and then push for the rest of the brand to match that effort. For the hotels that are struggling, even when it’s beyond their control, this can make life more difficult.
Read on for more thoughts on the matter.
Continued…
Posted in Industry News, Opinion.
– December 16, 2010
