From the desks of the Hotel News Now editorial staff:
- Hotels see boost from locating near hospitals
- KSL Capital Partners closes on purchase of Outrigger
- How InterContinental has grown from its Pan Am roots
- Italian parliament approves €20b to help weaker banks
- Washington, DC, hotel rates jump ahead of inauguration
Hotels see boost from locating near hospitals: Hotel developers are seeing the financial benefit of building near hospitals, many of which are far from existing hotels, the New York Times reports. Patients who travel across the country for specialized or long-term medical treatment previously had few options in accommodations, according to the Times story.
“Medical procedures that used to require multiple stays are now being done in much less invasive ways, and they require a lot less recovery than they used to,” Daniel C. Peek, a senior managing director at commercial real estate firm HFF, told the NYT. “And if a recovering patient needs to go back just twice a week, it’s probably better for the hospitals if they stay in a hotel.”
KSL Capital Partners closes on purchase of Outrigger: KSL Capital Partners has completed its acquisition of Outrigger Hotels and Resorts, according to a news release. The sale includes all of Outrigger’s 37 multi-branded hotels, condos and vacation resorts in Hawaii and the Asia/Pacific and Indian Ocean regions.
Outrigger’s current management team will continue on from its headquarters in Waikiki, Hawaii, the release states.
“Throughout our 70-year history, Outrigger has achieved tremendous success—growing from one property in Waikiki to 37 properties across 10 time zones, employing thousands of hosts and welcoming hundreds of thousands of guests every year,” said W. David P. Carey, president and CEO of Outrigger. “KSL’s deep knowledge and experience in our industry, capital capacity and shared vision make it the perfect choice to lead Outrigger to still higher levels. With the deepest appreciation for the generations of wise stewardship of Outrigger by the Kelley family, we are truly looking forward to our next chapters with KSL.”
How InterContinental has grown from its Pan Am roots: The global entity that is the InterContinental hotel brand started in 1946 as a company under Pan Am Airways, writes HNN’s Danielle Hess, and built its first property in Belém, Brazil, in 1949.
Kirby Payne, president of HVS Hotel Management, practically grew up with the brand, as his father served as controller and general manager for several properties. In fact, his father was the controller, and later GM, of InterContinental’s first property.
“This was so long ago in such a remote area that, for instance, the irons for ironing sheets and clothes were heated with charcoal,” Payne said. “That hotel had all kinds of things, like only one telephone on each floor. If a guest got a phone call, the phone attendant would go to the room and get them.”
Italian parliament approves €20b to help weaker banks: The parliament in Italy voted to provide a €20 billion ($20.9 billion) bailout to the country’s weaker banks, Reuters reports. The bailout could start as early as this week for Monte dei Paschi di Siena, Italy’s third largest bank.
Parliament’s approval allows the government to take on new debt, the news agency reports. The country’s current debt burden is 133% of its annual output, placing it as the second-highest in the euro zone after Greece.
Washington, D.C., hotel rates jump ahead of inauguration: Hotels in the Washington D.C. area are filling up ahead of the inauguration of President-elect Donald Trump. In central D.C., about 15% of hotels still have rooms available, according to a news release from CheapHotels.org, but they’re charging rates 367% higher than average.
Lower nightly rates come in at about $500 a night, according to the release. For those seeking even lower rates, they’ll need to stay on farther outside of central D.C. near the Ronald Reagan Washington National Airport and suburbs.
Compiled by Bryan Wroten.