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Crestpoint Companies’ president and CEO Kal Patel shows us what’s on tap for the hospitality development, management and investment firm in 2014 and beyond.

Today in the news

STR: Top 25 hotel markets in U.S. lead demand, rate growth
posted on Sep 02 14

The 25 largest hotel markets in the United States, which account for 31.5 percent of the total U.S. room supply, sold a record 401 million room nights in the 12 months ending in June, according to STR. The 12-month moving average of demand growth was 3.6 percent in June, against 2.9 percent in other markets, and the average daily rate was $137.68 compared with $98.78 in the rest of the markets. Read the HotelNewsNow.com story here

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Claire’s to expand its retail presence to boost sales
posted on Sep 02 14

Accessories retailer Claire’s will open branded shops inside some Toys R Us stores and start selling wholesale to other retail chains in a push to reverse U.S. sales declines. Same-store sales fell 2.9 percent in North America in the second quarter and rose 2.5 percent in Europe, where it already has branded sections in Toys R Us stores. Read the Chicago Tribune story here

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ME by Meliá to enter U.S. market with Miami property
posted on Sep 02 14

Meliá Hotels International plans to open an ME by Meliá hotel in Miami. The hotel will be the brand’s first property in the United States The former Casa Moderna and Tempo is set to reopen in 2015 as the 129-room ME Miami, with remodeled public spaces, a spa and two pools. Read The Miami Herald story here

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D.C.’s Embassy Suites unveils new, homier suites
posted on Sep 01 14

Embassy Suites at the Chevy Chase Pavilion in Washington, D.C., is overhauling its property and as part of that, it’s created a new, homier feel for 32 of its deluxe suites. HVS Design and Jonathan Nehmer & Associates, which is overseeing the work, used cozy colors and dark woods throughout the two-room suites and installed art showing local scenes. Read the HotelsMag.com story here

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How Chicago’s grocery scene is changing with the economy
posted on Sep 01 14

Middle-tier grocers, such as the now-defunct Dominick’s, have made way for more discount retailers like ALDI and high-end ones like Whole Foods in Chicago’s changing grocery landscape. Read the WBEZ-FM story here

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