After about eight years of growth, STR sees potential for a slowdown in revenue per available room. "It could go either way, but I think it's going to start to slow down, and we've got to be prepared for that," STR President and CEO Amanda Hite said.
Standard International is pursuing four hotel developments in Thailand, attracted by the country's tourism boom. The company is looking across Asia for expansion opportunities.
The Residences at Mandarin Oriental project is scheduled to break ground this fall in Honolulu. The property will have 125 guest rooms.
The 700,000 Heures travel project is "the first wandering hotel in the world," says founder Thierry Teyssier. The concept is to use existing properties for several months and create unique experiences for guests.
Striking artwork and floor-to-ceiling terrazzo tile on the fireplace highlight a lavish makeover of the venerable Swank Lounge in San Francisco's Laurel Inn. Renamed Laureate, the 1,100-square-foot lounge also features an updated, California-themed menu.
Today marks the grand opening of the 600-room Aventura Hotel at Universal Orlando Resort in Florida. Among the property's high-tech features are tablets that control various in-room amenities, high-speed fiber internet service and paperless billing.
The Paramount film company, Equinox fitness clubs and fashion labels such as Armani and Versace are among the brands entering the hospitality sector. "The hotel business is becoming a lifestyle business," said Chekitan Dev, a professor at Cornell University's School of Hotel Administration.