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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

Marriott: Market trends to shape future growth
posted on Sep 16 14

Marriott International has continued to reimagine itself to fit a changing market as it works toward a goal of having more than 5,000 properties worldwide over the next three years. Marriott has been shifting focus to local and regional customers, churning out technological innovations and launching new brands, company executives said. Read The Washington Post/Capital Business blog here

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Chipotle’s business model doesn’t include franchising
posted on Sep 16 14

Restaurant chains including Burger King, Wendy’s and McDonald’s have been selling more of their units to franchisees to raise capital and cut costs, but fast-casual Chipotle has never seen a need to start franchising. The Denver-based burrito chain grew early on with investments from friends and family, and later McDonald’s, which has allowed it to maintain ownership of 100 percent of its restaurants. Read the Entrepreneur online story here

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Sprouts confirms 10 new locations for 1st quarter of 2015
posted on Sep 15 14

Sprouts Farmers Market has added a second Alabama location to its list of new stores scheduled to open in early 2015, and shared the addresses of all 10 new stores planned for the quarter.The list includes: Bakersfield and Daly City, Calif., Birmingham and Huntsville Ala., Cumming, Ga., Houston, Kansas City, Mo., Mansfield, Texas, Scottsdale, Ariz., and South Jordan, Utah.

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Hyatt launches new sustainability vision
posted on Sep 15 14

Hyatt Hotels plans to sharpen its focus on careful use of resources, environmentally sensitive building and the use of technology to protect the environment. The goals are part of the company’s recently unveiled vision for achieving greater sustainability by 2020. Read the TravelPulse story here

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Hotel sales in San Francisco jump 133% in first half of 2014
posted on Sep 15 14

Sales of hotels in San Francisco are up 133 percent in the first half of 2014, compared with the same period last year, totaling $500 million, according to Atlas Hospitality Group. The top sales included South of Market‘s 199-room Hotel Vitale, for $133 million, and the $120 million paid for Nob Hill‘s 383-room grande dame Mark Hopkins. Read the San Francisco Chronicle/The Bottom Line blog

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