Hilton Announces Agreement to Sell up to 10 Hotels in Continental Europe to Morgan Stanley Real Estate for EUR 566 Million (Approximately $770 Million)
April 30, 2007 | Leave a Comment
Hilton Hotels Corporation (NYSE:HLT) today announced agreement to sell up to 10 hotels (approx. 3,330 rooms) to a fund managed by Morgan Stanley Real Estate for approximately EUR 566 million (or approximately US$770 million). Assuming completion of the sale of all 10 hotels, net proceeds after property level debt repayment (approx. EUR 41 million), taxes and transaction costs are expected to be approximately EUR 450 million. Proceeds from the sale will be used to pay down debt.
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Florida Timeshare Industry Contributed $14.3 Billion in 2005 to Statewide Economy, According to AIF Study by PricewaterhouseCoopers
April 30, 2007 | Leave a Comment
Study reveals 7.9 million timeshare visitors vacationed in Florida in 2005; high growth in sales, jobs and tax revenue over three-year period
The Florida timeshare industry contributed $14.3 billion to the statewide economy in 2005, according to a study conducted by PricewaterhouseCoopers (PwC) and released today by the ARDA International Foundation (AIF), the research and educational arm of the American Resort Development Association (ARDA). Undertaken to analyze the impact of timeshare developers and owners and their value to Florida’s economy, the study was released in advance of ARDA’s annual convention that will draw 4,000 timeshare industry professionals to Orlando next week.
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Global Resorts’ EVP to Co-Chair Condo Hotel Summit 2007
April 30, 2007 | Leave a Comment
Vacation and Hospitality Expert to Headline Las Vegas Event
Global Resorts, Inc., a Las Vegas-based firm focusing on providing solutions to new developers seeking entry into the vacation and hospitality industries, has announced that Jeff Yamaguchi, Executive Vice President, has been selected as co-chairman of the upcoming Condo Hotel Summit 2007, scheduled for May 10-11 at the Venetian Resort Hotel in Las Vegas. Yamaguchi will serve along side of Bernard S. Meyer, Senior Vice President – Business of ASSOCIA (Hollywood, FL).
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Hilton Completes the Sale of the Scandic Hotel Chain to EQT for EUR 833 Million ($1.1 Billion)
April 30, 2007 | Leave a Comment
Hilton Hotels Corporation (NYSE:HLT) today completed the sale of the 132 hotel Scandic chain to EQT for EUR 833 million or approximately US$1.1 billion. Net proceeds after transaction costs and taxes are expected to be approximately $1.04 billion and will be used to pay down debt.
As announced on March 2, 2007, this transaction is expected to reduce the company’s 2007 recurring EPS by $.10 per share.
Hilton Hotels Corporation (NYSE:HLT) is the leading global hospitality company, with more than 2,800 hotels and 480,000 rooms in 76 countries and territories, including 100,000 team members worldwide.
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WYNDHAM VACATION OWNERSHIP EXPANDS WYNDHAM BRAND IN METRO WASHINGTON AREA
April 30, 2007 | Leave a Comment
Re-flags Timeshare Resort in Old Town Alexandria as Wyndham Property
Wyndham Vacation Ownership, the world’s largest vacation ownership company and a member of the Wyndham Worldwide family of companies (NYSE: WYN), today announced that is has expanded Wyndham’s presence in the metro Washington area by unveiling one of its premier resorts in Old Town Alexandria under the Wyndham flag. This change marks one of the first milestones in the recently-announced re-branding initiative. The number of Wyndham resorts in the Washington D.C. area will expand to two with the scheduled opening of a Wyndham Vacation Ownership resort at the National Harbor entertainment complex in Prince George’s County, Maryland in 2009.
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American Resort Development Association Awards 20 Professionals with the Industry’s Highest Professional Designation
April 30, 2007 | Leave a Comment
The American Resort Development Association (ARDA) designated 20 vacation ownership industry professionals this week with the industry’s highest designation. Sponsored by the ARDA International Foundation’s education programming, the professional designations include the Associate Resort Professional (ARP) and Registered Resort Professional (RRP). The program promotes professional awareness, enhances workplace performance, and fosters self-esteem among professionals of the vacation ownership industry. A total of 541 industry professionals are now honored with the RRP and ARP designations.
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St. Regis to Debut in the Capital City of Indonesia
April 30, 2007 | Leave a Comment
Opening in 2011, The St. Regis Hotel & Residences, Jakarta will Offer Guests Superior Design and Unparalleled Service in One of Asia’s
Most Exciting Metropolises
Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced an agreement with Duta Anggada Realty Tbk to manage the St. Regis Hotel & Residences, Jakarta. Located on Jalan Jendral Sudirman - also known as Jakarta’s Wall Street - the newly built property will be ideally positioned to serve the city’s bustling business community. The St. Regis Hotel & Residences will offer 176 guest rooms and 284 whole-ownership residential units when it opens in 2011.
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MYSTIC DUNES SHINES AS HOST TO AJGA MEDICUS PRESEASON JUNIOR GOLF
April 30, 2007 | Leave a Comment
Celebration, Fla.The weather may not have been up to par for the American Junior Golf Association’s Medicus Preseason Junior Tournament at Mystic Dunes Golf Club recently. But the golf course sure proved to be, according to organizers and competitors alike.
“Mystic Dunes Golf Club held up extremely well under the AJGA’s championship states,” AJGA Tournament Director Stephen Shapin.
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Interval International’s “Party With A Cause” Raises $35,000 for ARDA International Foundation
April 30, 2007 | Leave a Comment
Annual Party Continues Corporate Tradition of Giving Back
Interval International, a leading global vacation exchange company, hosted its annual “Party With A Cause” during the recent American Resort Development Association’s (ARDA) 2007 Convention & Exposition in Orlando, raising $35,000 for the ARDA International Foundation (AIF), while partygoers danced the night away to the music of REO Speedwagon.
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STARWOOD VACATION OWNERSHIP BEGINS CONSTRUCTION ON THE WESTIN LOS CABOS OCEAN VILLAS
April 30, 2007 | Leave a Comment
Starwood Vacation Ownership, a division of Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT), announced today that it has broken ground on its second Westin-branded vacation ownership resort in Mexico. The Westin Los Cabos Ocean Villas is the first vacation ownership resort in Los Cabos, Mexico to be developed by a major U.S.-based lodging company.
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Welk Resorts’ Jon Fredricks Elected Chairman of American Resort Development Association
April 30, 2007 | Leave a Comment
Jon Fredricks, CHA, RRP, president of Welk Resorts, an independent vacation ownership company, has been elected Chairman of the American Resort Development Association (ARDA), the national trade association representing the vacation ownership industry.
“Jon Fredricks is an exemplary leader in timeshare, fractional, and private residence club development, with a history of stewardship as an active member of the ARDA Board of Directors and as chairman of the ARDA California Legislative Committee,” said Howard C. Nusbaum, RRP, ARDA’s president and CEO. “He has an in-depth understanding of the issues facing the evolving industry of shared-use leisure real estate, as well as a strong track record as a successful independent developer. His personal integrity and commitment to industry excellence makes him the ideal leader for our association.”
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aloft Brings a New Twist in Travel to Rogers, Arkansas
April 29, 2007 | Leave a Comment
aloft Rogers Breaks Ground on April 19, 2007
Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) and its much-anticipated new lifestyle brand, aloft hotels, announced today that aloft has partnered with CSKhotels, LLC to break ground on its first hotel in Arkansas.
aloft Rogers, located at the intersection of I-540 and New Hope Road, is just blocks from the heart of Rogers’ newest and most dynamic development areas, offering a refreshing alternative to the current lodging options. The six-story, 130-room hotel gives business and leisure travelers easy access to nearby business centers and local attractions, such as the Northwest Arkansas Regional Airport, Wal-Mart’s corporate headquarters, Pinnacle Hills and the Promenade. In addition, aloft Rogers is a mere half hour drive from the University of Arkansas. The property is expected to open its doors in early 2008.
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Shell Vacations Names Support Service Manager For New Preview Center on Waikiki
April 29, 2007 | Leave a Comment
Domonique Machovec has recently been named Support Services Manager for Shell Vacations Club’s new Preview Center at the Waikiki Marina Resort at the Ilikai in Honolulu, Hawaii.
Domonique has been with Shell Vacations for three years, starting as a temporary accounting clerk on the Big Island, and serving as an escrow coordinator, administrative assistant for the escrow department and escrow and funding coordinator for the entire Hawaii region of Shell Vacations. When the company’s escrow offices were combined, she became a part-time VLO in Kona and then moved to Waikiki to open the new sales office and to serve as the new Support Services Manager, directing a staff of over a dozen employees.
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BOYNE USA RESORTS RENEWS AFFILIATION AGREEMENT WITH INTERVAL INTERNATIONAL
April 29, 2007 | Leave a Comment
Boyne USA Resorts has renewed its affiliation agreement with Interval International, a leading provider of vacation services and an operating business of IAC (Nasdaq:IACI). The multi-year agreement furthers a relationship first established in 2000 and includes all existing and future properties.
Boyne USA Resorts is the largest privately owned four-season resort company in North America featuring vacation ownership, fractional, condo-hotel, and whole ownership products. The company owns and/or operates four-season destination resorts throughout the United States and Canada, including Michigan’s three premier snow sports and golf resorts Boyne Mountain, Boyne Highlands, and The Inn at Bay Harbor – A Renaissance Golf Resort, and Big Sky Resort in Montana.
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Trading Places International Signs New Management Services Contract with Sweetwater Park City Lift Lodge
April 24, 2007 | Leave a Comment
Trading Places International was recently awarded the management services contract for Sweetwater Lift Lodge in Park City, Utah, a 75 unit, studio, one, two and three bedroom, timeshare resort. Trading Places will be servicing reservations, rentals, exchange, resales, and association financial services. Vice President of Resort Management, Douglas L. Wilcox said, “We’re very excited about the addition of this popular property to round out our Park City offerings, and further strengthen our western US presence.”
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Westin and Element Brands to Bring Renewal to Travelers to Chantilly, Virginia
April 24, 2007 | Leave a Comment
Two Hotels Will Open in 2009 as Part of New Mixed-Use Lifestyle Development.
Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) and Access Hotel Advisors together announce a combined Westin and Element brand hotel developments to be built in Chantilly, Virginia. Owned by Commonwealth Centre Investors, LLC, an affiliate of BPG Properties, Ltd., The Westin Chantilly and Element Chantilly Westfields will be an integral part of Commonwealth’s master planned development - Commonwealth Centre. Construction on both properties is scheduled to begin in May 2008 with openings slated for Spring 2009.
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Wyndham Vacation Ownership Recognized as one of the “Best Places to Work in Hawaii”
April 24, 2007 | Leave a Comment
Company recognized by Hawaii Business Magazine for Second Year in a Row
Wyndham Vacation Ownership, the world’s largest vacation ownership company and a member of the Wyndham Worldwide family of companies (NYSE: WYN), has been recognized by Hawaii Business Magazine and the Best Companies Group as one of the “Best Places to Work in Hawaii.” Wyndham Vacation Ownership’s WorldMark by Wyndham brand (formerly Trendwest Resorts) ranked 13th within the small/medium-sized category and was honored for creating and supporting a rewarding work environment, providing progressive benefit programs and promoting organizational values.
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Interval Acquisition Corp. To Acquire RQI Holdings, Ltd. From Gaylord Entertainment Company
April 24, 2007 | Leave a Comment
Interval Acquisition Corp., an affiliated company of Interval International - a leading provider of vacation services and an operating business of IAC (Nasdaq: IACI), today announced that it has agreed to acquire RQI Holdings, Ltd., owner of ResortQuest Hawaii, LLC. ResortQuest Hawaii is a prominent management and rental distribution services organization for resort properties in Oahu, the Big Island of Hawaii, Kauai, and Maui and is a wholly owned subsidiary of Gaylord Entertainment Company (NYSE: GET).
(Logo: http://www.newscom.com/cgi-bin/prnh/20030423/INTVLINTLOGO )
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RESORTCOM INTERNATIONAL NAMES NEW MANAGERS
April 24, 2007 | Leave a Comment
Resorts in Mexico and Utah Benefit from Long Term On-Site Expertise.
ResortCom International LLC has promoted several of its on site management employees to new positions throughout the growing number of resorts on its roster. The San Diego-based ResortCom International provides the vacation ownership and resort industry with financial and resort operations services.
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Starwood Vacation Ownership Begins Construction on The Westin Los Cabos Ocean Villas
April 24, 2007 | Leave a Comment
Starwood Vacation Ownership, a division of Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT), announced today that it has broken ground on its second Westin-branded vacation ownership resort in Mexico. The Westin Los Cabos Ocean Villas is the first vacation ownership resort in Los Cabos, Mexico to be developed by a major U.S.-based lodging company.
The Westin Los Cabos Ocean Villas will feature 64 two-bedroom lock-off villas and boast Westin’s signature amenities and services that help guests feel at their best, including pools, a restaurant, spa and WestinWORKOUT(R) Powered by Reebok fitness facility. Villas will feature gourmet kitchens with granite countertops, separate living and dining areas, balconies overlooking the Sea of Cortez, separate bedrooms featuring the renowned Westin Heavenly Bed(R) and flat screen televisions in the bedrooms and living room area.
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TAMARACK RESORT SALES & MARKETING PROMOTIONS
April 24, 2007 | Leave a Comment
Department changes in response to increased resort visibility and success
As Tamarack Resort entered into its third winter of operations this year, Director of Resort Sales Ken Rider was promoted to the position of Director of Resort Sales and Marketing.
Rider started during the resort’s inaugural season as Director of Sales, where his responsibilities included overseeing all destination and consumer sales, concierge, group and guest services, the call center, and The Club. With this promotion, Rider will now also direct all strategic resort marketing initiatives, coordinating marketing and sales campaigns for all aspects of Tamarack Resort.
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New Executive VP of Marketing joins Land Resource
April 24, 2007 | Leave a Comment
Tim Gesner has been named as the new Executive Vice President of Marketing for Land Resource, bringing with him extensive experience as a pioneer in the real estate and vacation ownership industries. Gesner will forge new marketing innovations at Land Resource while challenging the rapidly evolving land development industry to exceed customer expectations.
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ELEMENT Toronto Downtown to Give Extended Stay Travelers a Place to Thrive While on the Road
April 24, 2007 | Leave a Comment
Announcing the First ELEMENT Hotel Outside of the United States
Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) today announces an agreement with Manga Hotels International to develop the first ELEMENT hotel outside of the United States in Toronto, Canada - ELEMENT Toronto Downtown. Opening in January 2009, the ELEMENT Toronto Downtown will offer a fresh perspective on the extended stay experience through smart design, modern style and natural touches.
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Ribbon Cutting Ceremony at Stormy Point Village
April 24, 2007 | Leave a Comment
VPG Partners, LLC is proud to announce the grand opening of the Stormy Point Village Clubhouse and Resort Center in Branson, Mo., on Wednesday, April 18, 2007. Ambassadors from the Branson Lakes Area Chamber of Commerce will be attending to assist with the ribbon cutting. The ceremony will begin with a tour of the Clubhouse and a brief question and answer session followed by a champagne toast and New England-style cuisine catered by Café Van Go.
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Aloft Brings a New Twist in Travel to Minneapolis
April 24, 2007 | Leave a Comment
aloft Minneapolis Scheduled to Break Ground in 2007.
aloha! Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) and its much-anticipated new lifestyle brand, aloft hotels, announced today it has signed a deal with 900 Washington Hotel, LLC, an affiliate of Sherman Associates, Inc., to develop an aloft hotel in Minneapolis, MN.
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FAIRMONT HOTELS & RESORTS WELCOMES NEW HOTEL IN HAMBURG
April 16, 2007 | Leave a Comment
Fairmont Hotel Vier Jahreszeiten, Hamburg Expands Company’s European Presence with Welcome to Hamburg Package
Fairmont Hotels & Resorts today announced a new hotel in Hamburg, Germany will join its collection of landmark hotels on April 30, 2007 - Fairmont Hotel Vier Jahreszeiten, Hamburg.
Prominently located on the western side of the Inner Alster Lake shore, Fairmont Hotel Vier Jahreszeiten, Hamburg lies in the heart of the prime retail and commercial district, on the edge of the Binnenalster. The hotel, reminiscent of a well-appointed town home, features four restaurants, two bars, a spa and fitness facility and approximately 6,700 square feet of function space. The public areas are furnished with a collection of 16th- and 17th-century Flemish Gobelin tapestries, baroque cupboards and Renaissance chests.
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The Resort at Singer Island Makes Its Debut in Palm Beach County as the Newest Member of the Starwood Luxury Collection
April 16, 2007 | Leave a Comment
Contemporary Oceanfront Resort Opening Signals Renaissance of Singer Island
The Resort at Singer Island, a dramatic and modern take on Palm Beach luxury, makes its grand debut today, welcoming guests to one of the most expansive oceanfront destinations on the Eastern seaboard. The 21-story, all-suite Resort at Singer Island is this newest member of Starwood Hotels & Resorts Worldwide, Inc.’s (NYSE:HOT) The Luxury Collection brand. The opening of this resort signals the renaissance of Singer Island, which was founded in 1920 by the scion of the sewing machine dynasty, into one of the most dynamic oceanfront destinations on Florida’s prestigious Gold Coast.
Positioned on one of the most pristine beachfronts on the Atlantic, nestled between Jupiter and Palm Beaches, the $210 million Resort at Singer Island is the largest luxury hotel real estate development in Palm Beach County since 1991. Each of the 239 condominium hotel suites offer between 800 and 2,100 square feet of living space in one and two-bedroom configurations, with a dozen different floor plan options. Suite interiors feature state-of-the-art kitchen appliances, luxurious marble bathrooms, stylish and comfortable living spaces with flat-screen televisions, Bose CD/DVD players and spacious balconies, all with water views. The resort also includes 66 private residential units.
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ANTHONY ARKE STEPS DOWN AS OTE CHIEF EXECUTIVE; PAUL GARDNER BOUGAARD NAMED AS INTERIM CEO
April 16, 2007 | Leave a Comment
The Organisation for Timeshare in Europe (OTE) has announced the departure of its chief executive Anthony Arke who plans to devote more time to “personal matters”.
The Board of Directors thanked Mr Arke for his dedication and hard work as well as his creativity and initiatives that have helped OTE acquire an improved reputation in the industry. Read more
SCOTT KNOLL has commenced in the role of Communications Manager at Accor Première Vacation Club
April 16, 2007 | Leave a Comment
Scott will be responsible for all internal and external communications between staff, and all Members, assisting with Public Relations and general communications and editorial enquiries.
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Michael Schraibman Chairman/CEO of SPM Resorts elected to “ARDA” Board of Directors
April 16, 2007 | Leave a Comment
Michael Schraibman, Chairman/CEO of SPM Resorts, Inc. was recently elected to serve on the Board of Directors of ARDA (American Resort Development Association).
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