Crowne Plaza Houston
• hotelAVE's Q4 2015 Hospitality Dashboard
November 30, 2015 - hotelAVE is pleased to present our latest Hospitality Dashboard. The Dashboard is a one page, one-stop shop for timely, detailed hospitality trends. Download the Dashboard here.
• Art & Literature Inform the Design of this Manhattan Adaptive-Reuse
November 9, 2015 - David Israel, hotelAVE Senior Vice President, was mentioned in Hotel Business Magazine's article "Art & Literature Inform the Design of this Manhattan Adaptive-Reuse". Read the article here.
• Lodging Magazine's Leading Women in Lodging
September 14, 2015 - Michelle Russo, hotelAVE's CEO & Founder, is on the cover of Lodging Magazine's September issue. Ms. Russo is featured in the "Leading Women in Lodging" story. Read the magazine here.
• hotelAVE's Q3 2015 Hospitality Dashboard
September 14, 2015 - hotelAVE is pleased to present our latest Hospitality Dashboard. The Dashboard is a one page, one-stop shop for timely, detailed hospitality trends. Download the Dashboard here.
• HSMAI’s Washington DC Chapter Announces New Advisory Board
July 16, 2015 – Sarah Bartlett, hotelAVE Vice President of Revenue Management, has been appointed to HSMAI’s Washington DC Chapter Advisory Board. This is Ms. Bartlett's second year on the board. “Our volunteer advisory board members are highly experienced hotel professionals who are committed to establishing the chapter as valued resource to the greater Washington area’s hotel community,” said Fran Brasseux, HSMAI executive vice president. To learn more about the board, click here.
• Processes to Optimize Hotel Asset Preservation
June 19, 2015 - Kristin Knox, hotelAVE Vice President, contributed to the book, ISHC CapEx 2014: A Study of Capital Expenditures in the Hotel Industry. This book presents data on trends in capital expenditures by various hotel segments, including luxury, full service, select service, and extended stay. Ms. Attar's section, Processes to Optimize Hotel Asset Preservation, details the necessary steps that should be taken in order to capitalize on hotel assets. Read it here.
• The ABC's of Hotel Profitability
June 10, 2015 - Sarah Bartlett, hotelAVE Vice President of Revenue and Distribution will be presenting at CventConnect June 15, 2015 - The ABC's of Hotel Profitability. Stop by to learn about the most important measures of success for hotels. Check out the full agenda here.
• HSMAI's Washington DC Chapter to Host REvenue Optimization Education Event
June 5, 2015 - Sarah Bartlett, hotelAVE Vice President of Revenue and Distribution and HSMAI DC Board Member, will be moderating a panel at the HSMAI Washington DC Chapter Revenue Optimization Educational Event on June 10, 2015 at the Marriott Washington Georgetown. hotelAVE also provides asset management services for the property.
• 15 Women of Hospitality Finance
June 1, 2015 - Michelle Russo, hotelAVE Founder and CEO, was featured in HFTP's quarterly journal, The Bottomline Spring 2015. Ms. Russo was named one of the industry's notable and influential female finance professionals. Read more about the "forward-focused thought leader and innovator in the hospitality asset management and hotel real estate space" here.
• hotelAVE's Q2 2015 Hospitality Dashboard
May 28, 2015 - hotelAVE is pleased to present our latest Hospitality Dashboard. The Dashboard is a one page, one-stop shop for timely, detailed hospitality trends. Download the Dashboard here.
• Through the Owner's Lens - The Performance Test
May 20, 2015 - Nele Breitbart, hotelAVE Vice President, was published in Hotel Interactive, a daily hotel and lodging news publication. Her article details the key concepts you need to know to maximize management agreements. Check out the full article here.
• Rooms for Growth
May 1, 2015 - Founder and CEO, Michelle Russo, was featured in Our Backyard Rhode Island, an online community dedicated to showcasing Rhode Island success stories. Click here for the story.
• 2015 HELP Conference Takeaways
April 22, 2015 - hotelAVE attended the 2015 Hotel Equity and Lenders Perspectives (HELP) Conference. The event brought hotel owners, investors, and lenders together to discuss the trends, game changes and disruptors in the hospitality industry. In case you missed it, check out hotelAVE's Key Conference Takeaways here.
• Indpendent Hotels Take on the Brands
April 21, 2015 - hotelAVE's Senior Vice President, David Israel, participated in an independent hotel roundtable with Hotel Management and a handful of thought leaders in the industry. Click here to read more about Mr. Israel's take on independent hotels.
• hotelAVE to Sponsor the 2015 HTM Annual Awards Dinner
April 13, 2015 - hotelAVE will be sponsoring this year's HTM Awards Dinner hosted by the Department of Hospitality & Tourism Management at the UMass Isenberg School of Management. The event taking place April 16, 2015, in Boston, will raise awareness of HTM, provide support to the growing hospitality industry and honor its industry leaders. For more information and to purchase tickets to the event, please click here.
• Michelle Russo to be a Panelist on the Cornell /AHLA Women in Senior Leadership Panel
April 7, 2015 - Michelle Russo, Founder and CEO of hotelAVE, will be covering the topic “Women Entrepreneurs & Global Trends in the Hospitality Industry” during this year’s leadership panel. Click here to learn more and to register for this event taking place in Washington, D.C. on April 13, 2015.
• Peter Laack joins hotelAVE as Vice President
April 1, 2015 - hotelAVE welcomes Peter Laack, Vice President, as the newest member of the Hotel Asset Value Enhancement team. Mr. Laack will provide consulting assignment supervision, support, and training and mentoring to a team of associates. He will also be responsible for internal and external client relations and identifying new consulting assignment opportunities. He joins the firm from Interstate Hotels & Resorts.
• Sarah Bartlett to Speak at Virginia Tech
March 31, 2015 - Sarah Bartlett, hotelAVE Vice President of Revenue and Distribution and HTM Advisory Board Member, will be a guest speaker at Virginia Tech's Department of Hospitality & Tourism Management Graduate Research Seminar on April 3rd, 2015. As a respected thought leader in the industry, she will present how review sites impact RevPAR.
• Finding Value in Numbers
March 17, 2015 - Founder and CEO, Michelle Russo, was featured in a Providence Business News article highlighting hotelAVE’s humble beginnings and its climb to become a successful hotel real estate asset management company.
• Why Hotels Really Care About Millennials
March 9, 2015 - hotelAVE's Senior Vice President, David Israel, was quoted in a Fox News article emphasizing what Millennials expect in a hotel experience and how the hospitality industry is reacting to these needs.
• The Gregory Hotel to Bring Authentic New York Hospitality Experience to Herald Square in Spring 2015
February 18, 2015 - hotelAVE's currently provides asset management services to The Gregory Hotel. Prior to acquisition, hotelAVE completed the acquisition due diligence; repositioning and facility program analysis; and new manager selection. Click here to read more.
•Hotel Management Young Professionals - Thirty Under 30 featuring HotelAVE's David Israel
October 20, 2014 - Thirty Under 30 featuring HotelAVE's David Israel
•Hotel Business News - HotelAVE addresses USALI's affect on management agreements
October 7, 2014 - HotelAVE addresses USALI's affect on management agreements
•11th Edition - Key Changes & P&L Implications Reference Grid
September 30, 2014 - hotelAVE, recently released Key Changes & P&L Implications Reference Grid
• Michelle Russo quoted in Hotel New Now
• Michelle Russo to speak at Cornell Hotel Society NYC Fourth Annual Big Apple Update
• Richard Musgrove joins hotelAVE as Executive Vice President
February 13, 2012 - Michelle Russo, President, is pleased to announce that Richard E. Musgrove, CHA, CPM, CCIM, RPA, has joined Hotel Asset Value Enhancement as Executive Vice President. Mr. Musgrove will be co-practice leader of the West Coast operations along with Kristin Knox, Vice President. He joins the firm from Chartres Lodging Group.
• hotelAVE to Sponsor Meet the Money!
February 7, 2012 - Michelle Russo, President, announced that Hotel Asset Value Enhancement will be a sponsor of JMBM Global Hospitality's Meet the Money conference, May 7-9, in Los Angeles. This annual event is a gateway to hospitality finance providers of debt and equity capital for hotel deals. For more information or to register visit Meet the Money 2012.
• Michelle Russo to Speak at Sage Leadership Conference
February 6, 2012 - Michelle Russo, President of hotelAVE, will be a member of the Owner's Panel at Sage Hospitality's Discover the Difference 2012 Manager conference.
• Michelle Russo to Be Panelist at NATHIC Conference
September 1, 2011 - Michelle Russo, President of hotelAVE, will be a panelist on the “Straight Talk From the Top” panel at Hotel Management Magazine’s hospitality investment conference. Held on November 1-2, in Washington, D.C., the event was known as the Distressed Hotels Summit. It has now been expanded and renamed the "North America Hotel & Tourism Investment Conference” with a focus on positioning for profitability. For more information, visit www.IHIF Summit Series.com.
• Michelle Russo to Be Panelist at NYU International Hospitality Conference
May 11, 2011 - Michelle Russo, President of hotelAVE, will participate in a panel discussion entitled, Who Is The Customer? Chaired by Scott Berman of PwC, the workshop will take place on Monday, June 6, at 11:15 am. For more information visit www.scps.nyu.edu.
• Michelle Russo Named Ernst & Young's Entrepreneur of the Year Award New England Finalist
May 11, 2011 - Michelle Russo, President of HotelAVE, was named an Ernst & Young Entrepreneur Of The Year® 2011 New England Award finalist. This awards program recognizes entrepreneurs who demonstrate excellence and extraordinary success in such areas as innovation, financial performance and personal commitment to their businesses and communities. Ms. Russo was selected as a finalist from nearly 60 nominations by a panel of independent judges.
• Michelle Russo Quoted in Hotel Business Magazine: Asset Managers Can Stabilize Distressed Hotels
March 7, 2011 - Michelle Russo, President of HotelAVE, was quoted recently on how asset managers can play an important role for distressed hotels. In an article entitled, "Asset Managers Can Stabilize Distressed Hotels, " Ms. Russo explains how many investors today are "unintentional" owners during the recent downturn, but that is starting to shift as the economy improves. Read the entire article at www.hotelbusiness.com .
• Michelle Russo to Speak at Cornell University’s Conversations With Entrepreneurs
March 1, 2011 - Michelle Russo, President of HotelAVE, will be at the Ithaca campus on March 8-9, 2011 for Cornell University’s School of Hotel Administration’s “Conversations with Entrepreneurs” series. This speaker series brings to campus hospitality entrepreneurs and innovators who share their wisdom and insights with students and faculty through lectures and personal interactions. The series is sponsored by The Leland C. and Mary M. Pillsbury Institute for Hospitality Entrepreneurship.
• Loren Balsam Joins hotelAVE as New Executive Vice President
December 30, 2010 - Hotel Asset Value Enhancement is pleased to announce that Loren Balsam has joined its staff as Executive Vice President focusing on acquisitions and new business development. Prior to joining hotelAVE, Mr. Balsam was a Managing Director at PRP Real Estate Investments. He is a graduate of Cornell University's School of Hotel Administration. For more information, read his bio on our Professional Team page.
• Michelle Russo to Speak at 2011 Hospitality Law Conference
December 22, 2010 – Michelle Russo, President of hotelAVE, will be presenting “Key Business Terms/Concepts in Major Hotel Agreements” at the 2011 Hospitality Law Conference. Specifically, her presentation will cover “Management Contracts 101” including key differences between brand and third-party agreements (term, termination for performance, cure rights, fee structure, termination upon sale, owner approval rights) and independent contractor versus agent. The conference is scheduled for February 9-11, in Houston, Texas, and is sponsored by HospitalityLawyer.com. For more information, visit www.hospitalitylawyer.com.
• hotelAVE Partnership Acquires Minneapolis's Northland Inn
October 12, 2010 - Hotel Asset Value Enhancement (hotelAVE) partnered with an institutional investment fund to acquire The Northland Inn, an all-suite hotel and conference center located in the Minneapolis suburb of Brooklyn Park. The dollar figure for the transaction was not disclosed, but the partnership is committed to substantial reinvestment in the property with a goal of reclaiming the hotel's prominence in the marketplace. Rhode Island-based Hotel Asset Value Enhancement Inc. is one of the nation's largest hotel real estate advisory firms. The institutional investment fund is managed by Fidelity Real Estate Group, a division of Pyramis Global Advisors, a Fidelity Investments Company. StepStone Hospitality, hotelAVE's sister company, will take over management of the property, effective immediately.
The hotel went into foreclosure in 2009. The new owners say their first priority is to provide stable ownership and management to reclaim the property's position in the marketplace. "The Northland Inn is a fabulous property and a great addition as we grow our portfolio," said Thomas Russo, Chief Executive Officer of StepStone Hospitality. "We are excited about the potential we see in the Twin Cities market. Our first priority is to restore the confidence of our employees, clients, and business partners to ensure this hotel has a long, bright future for all invested parties."
The new owners will organize focus groups of customers such as hotel guests, meeting planners and travel agents in order to investigate how to best invest a substantial amount of capital slated to renovate the hotel. The company plans to retain all of the hotel's current staff of 135 employees.
With more than 33,000 square feet of meeting space, including two ballrooms, 140-seat amphitheatre, executive board room and 25 meeting break-out rooms, the hotel is one of the top ten meetings hotels in the Twin Cities and the only all-suite meetings hotel capable of handling meetings for up to 850 guests.
Conveniently situated at the intersection of Interstate 94 and Boone Avenue, The Northland Inn is just minutes from downtown Minneapolis and St. Paul. The hotel has 231 two-room and three-room suites featuring some of the most spacious guestrooms in the Upper Midwest.
• Michelle Russo to Speak at Distressed Hotel Summit
October 1, 2010 - Michelle Russo, President of HotelAVE, will be a panelist at the upcoming Distressed Hotel Summit, Monday, November 1. She will be a member of the “Hospitality Industry Leaders Panel: News From the Corner Office” panel along with Michael Medzigian - Chairman & Management Partner, Watermark Capital Partners; Tom Baker, Principal - Humboldt Hospitality; and Russell Urban, Senior Vice President - Acquisitions and Development, HEI. Panel moderator is Stephanie Ricca, Editor in Chief of Hotel & Motel Management Magazine. The Summit is sponsored by IHIF and takes place November 1-2 in Washington, DC. For more information: www.distressedhotelsummit.com.