Global Hospitality Report (February 16, 2016)

Key Hotel-Related Takeaways | MBA CREF16 
By Desiree Flanary and Brett Russell

Uncertainty in the CMBS market has slowed investment in commercial property, including hotels. Experts at the recent CREF conference, however, expect the impact to be temporary.

Seven Steps to Food Cost Control 
By Kirby Payne

Former FSU hotel school Professor Dukas' Seven Steps to Food Cost Control from his book, "How to Operate a Restaurant" provides a concise list of things to think about to effectively manage food cost.

Hospitality Law Conference | 22-24 February 2016 

The 2016 Annual Hospitality Law Conference, presented by in conjunction with HVS Hotel Management and HVS Asset Management - Newport, will take place on February 22-24, 2016 at the Royal Sonesta Hotel - Houston, Texas. Offering CPE and up to eighteen hours of CLE, this conference converges the legal, risk, development, and finance sectors of the industry in an effort to educate and innovate.

St. Regis Jakarta and The Residences to Debut in 2019  

Starwood Hotels & Resorts Worldwide announced, on February 4, the debut of its ultra-luxury brand St. Regis, in the capital city of Indonesia. Starwood will operate St. Regis Jakarta and The Residences under a management agreement with developer Rajawali Property Group; the property is anticipated to open in 2019, with 280 guestrooms and suites as well as 164 units of branded residences. Located along Jalan H.R. Rasuna Said, Kuningan in South Jakarta, the development will be a stone’s throw from the Ritz-Carlton Mega Kuningan. The Jakarta hotel market, which currently boasts a supply of 2,658 rooms in its upper-upscale and luxury space collectively, is no stranger to mixed-use developments consisting of luxury hotels with up-market branded or private residences. St. Regis Jakarta and The Residences will be joining a number of successful developments of its nature including the Keraton-Luxury Collection, Raffles Jakarta and Residences, the Ritz-Carlton Mega Kuningan and Airlangga Residences, as well as pipeline developments like the Langham Hotel and District 8 Residences and the Regent Hotel and Residences.

Dual-Branded IHG Project at Heathrow  

InterContinental Hotels Group (IHG) has signed a franchise agreement with Bathroad Corp Sarl for a dual-branded hotel project at London's Heathrow Airport. The 190-room Staybridge Suites London – Heathrow Bath Road and the 433-room Holiday Inn London Heathrow Bath Road are scheduled to open in 2018 close to Terminals 1, 2 and 3. The hotels will share the same building and the development will also include extensive parking space, seven meeting rooms and an on-site gym. IHG currently has five Staybridge Suites and 309 hotels overall in the UK.


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