Hotel & Motel Management - October 15, 2007 - (Page 1)

CONSTRUCTION GREEN BUILDING TRENDS IN LODGING Page 22 NEWS BUDGETEL BRAND OFF AND RUNNING Page 4 TIMESHARE HEALTHY TIMES TO CONTINUE Page 20 www.HotelMotel.com News Analysis, Trends and People Since 1875 A HotelWorld Network Publication | Vol. 222, No. 17 | October 15, 2007 Lending hesitance may slow supply By Stacey Mieyal Higgins SENIOR EDITOR INFO CONCIERGE National Report–Now that the lodging industry has had a chance to process the credit crunch chaos of the past few months, hoteliers and lenders are talking about the fallout. Perhaps some of the most tangible information comes from a revised forecast released by PricewaterhouseCoopers in September. In summary, the forecasted revenue per available room growth for 2007 was decreased by 0.1 percent from The Red Roof Inn & Suites in Wytheville, Va., is part of a brand with a goal for national growth. SEE RELATED COVERAGE: Thoughts on valuation from The Lodging Conference Page 6 Impact of subprime debacle on hotels Page 12 its August forecast to 5.6 percent. Average daily rate was revised to grow by 5.7 percent in 2007, compared to the August forecast of 5.8 percent. More impact can be seen in the 2008 supply and demand growth forecasts from PWC. Bjorn Hanson, principal in the hospitality & leisure practice at PWC, said the credit market conditions most likely will create a delay in lending activity, which will affect 2008 and 2009 See Lending | page 43 Three reasons why brand drives change in the hotel industry: 1. Loyalty programs have declining impact on hotel choice. 2. Many hotel groups are divesting real-estate to free capital for expansion of the brand and all of its aspects. Extended-stay builds on history RED ROOF INNS 3. Hotel expansion spurs competition, and brand will be a determining factor, like location is now. Source: Hospitality 2010, Deloitte By Jeff Higley EDITORIAL DIRECTOR SHOW UPDATE Red Roof Inns gets new owner, new path By Stacey Mieyal Higgins SENIOR EDITOR National Report–The extended-stay segment, the darling of the lodging industry in the late 1990s, is again becoming a popular play among developers. According to a report from The Highland Group, extended-stay rooms under construction are at their highest level in a decade—although the construction process is taking longer. The 2007 U.S. Extended Stay Lodging Report: Mid-Year Update reports that the fourquarter moving average of supply growth indicated an average of 2,410 See History | page 36 Hospitality, design awards to honor best By Stephanie Ricca MANAGING EDITOR Columbus, Ohio–Now that the acquisition is complete, Red Roof Inns is gearing up to forge a new path for growth. With new owners Citi’s Global Special Situations Group and Westbridge Hospitality Fund, L.P. at the helm, the brand has already established See Red Roof | page 46 INTERCONTINENTAL HOTELS GROUP IHG reports strong growth for its extended-stay brands, including Staybridge Suites. Shown here is a rendering of a new Staybridge Suites planned for Chicago. Cleveland–As part of February’s HotelWorld Expo & Conference, Hotel & Motel Management, Luxury Hotelier and Hotel Design magazines will present the ﬁrst Global Hospitality and Design Awards to honor outstanding properties, companies and individuals. “It’s important to recognize achievement in our industry, because people and companies are focused on service excellence every day,” said Jeff Higley, editoriSee Hospitality awards | page 50 http://www.HotelMotel.com

Table of Contents Feed for the Digital Edition of Hotel & Motel Management - October 15, 2007

Hotel & Motel Management - October 15, 2007 Contents Concord Sets Goal to Double Portfolio Leaders: Budgetel Brand Off and Running Pension Funds Put More Capital Into Hotels Perspective Letter to the Editor At Your Risk Consultant's Corner Sales Clinic On Finance Guest Column Trends & Stats Industry Leaders Say Healthy Times Will Continue Eco-Concious Hotels Looks for Certification Events Removing Chemicals, Suds from Housekeeping Products Handhelds Help Track Safe Activity People on The Move Awards Transactions Supplier News Ad/Editorial Index Bath Trends Marketplace Classifieds Checking Out

Hotel & Motel Management - October 15, 2007

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