Vol. 7 No. 313 About   |   Contact   |   Advertise January 08, 2020
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Shamin Hotels buys newspaper building for new office
The Virginia hotel company will share the space with the newspaper
News-1

The staff of Richmond, Virginia-based Shamin Hotels will soon have a new, larger home. The company has purchased the Richmond Times-Dispatch newspaper building and will share the space with the paper’s staff.

SHAMIN HOTELS, ONE of the largest Asian American owned hotel development and management companies in the country, has a new home with a literary pedigree. It has purchased the Richmond Times-Dispatch newspaper building that it will renovate and share with the newspaper.

Shamin bought the four-story, nearly century-old building for $14.462 million on Jan. 2 and is planning a $1 million renovation, according to the Times-Dispatch. Its previous assessed value is $20.293 million.

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INSIDERS
Insiders Sam Basu is the new general manager for JW Marriott Orlando Bonnet Creek Resort & Spa in Orlando, Florida. Previously he worked at hotels in Puerto Rico.

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OPENINGS
openings NewcrestImage has opened a Hyatt Place in Amarillo, Texas, the company’s fourth hotel in the city.

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Vision breaks ground on second Kinley Hotel
The company launched the boutique brand in 2018 and another is scheduled to open this year in Cincinnati
News-1
The 64-room Kinley Chattanooga Southside, slated to open in 2021, is near the Chattanooga Choo Choo and the Songbirds Guitar Museum in Chattanooga, Tennessee.
VISION HOSPITALITY GROUP has broken ground on its second Kinley boutique hotel. The Chattanooga, Tennessee-based company launched the Kinley brand in 2018.

The 64-room Kinley Chattanooga Southside in downtown Chattanooga is expected to open in 2021. The 94-room Kinley Cincinnati in the city’s Over The Rhine neighborhood, built in 1910, is expected to open this year. Both hotels will be part of Marriott International’s Tribute Portfolio of independent boutique hotels.

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HVS: Hospitality growth in 2020 stable, but caution is urged
The overall U.S. economy continues growing, carrying with it the lodging industry
News-3
The U.S. economy grew at rate of 1.9 percent in the third quarter of 2019, according to HVS, and while some economic uncertainty remains, 2020 should see more growth with some limitations.
THE U.S. HOSPITALITY industry is likely to continue hitting its peak through 2020, though some economic uncertainty remains, according to a report from lodging consulting firm HVS. The report forecasts modest growth for RevPAR, occupancy and ADR as consumer spending remains relatively strong and despite the continuing growth of competition from the “sharing economy,” namely Airbnb.

“U.S. Lodging Industry: Stability in 2019 Extends Cautious Outlook into 2020-21” by HVS President for the Americas Rodney Clough and Managing Director and Senior Partner Daniel McCoy frames its predictions for the lodging industry with data on the overall economy.
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Current Issue
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NUMBERS
Numbers
6.1  

The percent of growth in GOPPAR for U.S. hotels in November over last year, according to HotStats. It was the second-highest increase of 2019 while the year-to-date profit was almost flat with just a 0.3 percent increase.
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My Place employees train to prevent human trafficking
The company’s training program coincides with National Human Trafficking Awareness Day
News-2
My Place Hotel’s general managers and corporate headquarters staff have already completed the “Inhospitable to Human Trafficking” training program from Businesses Ending Slavery & Trafficking. Now the company is encouraging all hotel staff to do the same.
EMPLOYEES OF ABERDEEN, South Dakota-based My Place Hotels started the new year out with training that may help them prevent human trafficking. The training will lead up to National Human Trafficking Awareness Day on Jan. 11.

Businesses Ending Slavery & Trafficking (BEST) partnered with My Place to conduct the company’s training, “My Place is No Place for Human Trafficking Week”, from Jan. 6 to 10. Another week of training focused on operations will begin Jan. 13.

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GRAPHIC OF DAY
Hotel stock index closes 2019 up 29.5 percent
Graphic
AS 2019 CAME to an end, the Baird/STR Hotel Index jumped 6.1 percent to 5,270, leading to a total 29.5 percent increase in the index for the entire year.
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