Richfield Hospitality Blog

Richfield Hospitality to Manage Five-Hotel Portfolio in Rochester, Minn.

October 18, 2013

The International Hotel, Kahler Grand Hotel, Kahler Inn & Suites, Marriott Rochester Mayo Clinic Area and Residence Inn by Marriott Rochester Mayo Clicnic Area Under New Management 

ROCHESTER, Minn./DENVER, Colo., October 18, 2013—Richfield Hospitality, a leading hotel management company, today announced that it has been retained by Kahler Hotel Group to operate five hotels in Rochester, Minn. Kahler Hotel Group whose board of directors is chaired by Javon R. Bea, who is also president and CEO of Mercy Health System, a vertically integrated health system with 69 medical facilities in southern Wisconsin and northern Illinois.  All the hotels, totaling nearly 1,300 rooms, are located in the downtown district and are the closest to the renowned Mayo Clinic. (more…)

Richfield Hospitality to Manage Sheraton Fort Worth Hotel & Spa, in Texas

August 1, 2011

    

Property Recently Completed $48 Million Renovation Program

FORT WORTH, Texas/DENVER, August 1, 2011—Richfield Hospitality, a leading hotel management company, today announced the company signed an agreement to manage the 431-room Sheraton Fort Worth Hotel & Spa, in Texas, on behalf of developers and owners, Presidio Companies, a hospitality development and  asset management company.  The property recently underwent an extensive, top-to-bottom, $48 million renovation. (more…)

Green Hotels – Amplifying the Bottom Line

July 21, 2011

By: Alice Lin, Feasibility Analyst at Richfield Hospitality

Hotels are now jumping on the “Green” bandwagon as LEED certification and sustainable practices become the new buzz words in tourism. This movement is no longer a passing fad but is becoming a new standard in the industry—increasing number of travelers are paying  a premium to stay at green properties and meeting planners are demanding eco-friendly practices. To appeal to a growing segment of eco-conscious demand, many operators have made the commitment to and the investment for sustainable operations. Besides generating demand, green practices also create considerable cost savings and produce additional flow-through to the bottom line. (more…)

DoubleTree by Hilton Flag now Flying Over Minneapolis Market’s 2nd Largest Hotel

July 13, 2011

BLOOMINGTON, Minn./DENVER, Colo., July 12, 2011—Platinum Equity, a Los Angeles-based private equity firm, and Richfield Hospitality, a leading hotel management company, today announced the official reflagging of the 564-room Sheraton Bloomington to the DoubleTree by Hilton banner.   

The reflagging is the first step in a multi-million dollar strategy to reposition the hotel as the premier business and events destination in the Twin Cities. (more…)

Landmark Hotel’s Facelift Leads Revitalization of Bloomington Strip

July 11, 2011

Signature Cookie Giveaway to Benefit Second Harvest Heartland 

(Bloomington) June 29, 2011— Drive down I-494 in Bloomington and you can’t miss the iconic Sheraton Bloomington Hotel. Starting July 8, those white letters will change to the DoubleTree by Hilton, beginning its future as the premier business and events destination in the Twin Cities.

The 564-room hotel at 7800 Normandale Boulevard will begin operation as the DoubleTree by Hilton on July 13, offering the brand’s signature warm chocolate chip cookies to guests at check in.  From 9 a.m. to 3 p.m., free cookies will be available at the hotel’s main entrance. $1.00 will be donated to Second Harvest Heartland for each cookie given away during that time, up to $1,000. (more…)

Trends in the Hotel Transaction Market

June 30, 2011

By: Gabrielle Lerner, Director of Investment Services & Feasibility at Richfield Hospitality

It’s no secret that over the last few years, hotel transaction activity has slowed due to the gap between actual bids and asking prices for hotels. The original theory was that a distressed market would translate to significant transaction volume; however, lenders have chosen to avoid foreclosure, which compounded with declines in the industry’s operating performance and unavailability of debt financing, resulted in limited acquisitions. (more…)

Flatten the Pyramid – Company Leadership in a New Light

June 16, 2011

By: Moby Ahmed, Senior Vice President, Operations at Richfield Hospitality 

When I was starting out I reported to an older, more formal leadership team, whose members expected deference and respect. Now, we see more egalitarian styles are on display. Most folks atop the career ladder can no longer pretend they have all the answers. Today’s increasingly complex business challenges ensure old solutions are no longer enough. Judgment, creativity and initiative now rank equally with experience, if not above it. (more…)

Enhancing Your Hotel Sales: Developing Talents Into Their Strengths

May 18, 2011

By: Moby Ahmed, Senior Vice President, Operations at Richfield Hospitality

I recently read an excellent book by Tony Rutigliano and Brian Brim, authors of Strength Based Selling on sales effectiveness where they clearly discuss that talent trumps training and strengths development beats them both.

They summarize that the best sales people have innate talents. But do they know it? And do they use them? If not, they’re squandering a powerful asset. Great salespeople are fairly rare, and those who develop their talents into strengths are rarer still—but the research shows that they’re also much more successful. (more…)

Richfield Hospitality Improves Efficiencies, Productivity, and Profitability with ProfitSage Business Intelligence by ProfitSword

April 11, 2011

Orlando, FL – April 11, 2011 – With a focus on optimizing their owners/partners investments, Richfield Hospitality has implemented the ProfitSage Financial Business Intelligence application by ProfitSword throughout their portfolio of hotels.  ProfitSage, a web-based system, is integrated with all of the disparate systems in use by the hotels, including the back office accounting application, enabling the hotel, the Richfield corporate office, and ownership to see all of their data in one location. (more…)

Richfield’s Recent Upscale Acquisition – An Interview with Angela Landgraf

April 4, 2011

Dan Marcec

article on hotelindustryonline.com 

The climate for quality for-sale properties continues to improve, and with the amount of capital waiting to pounce, the marketplace likewise continues to become more competitive. And outside of the highly publicized transactions and REIT acquisitions, there are plenty of other deals happening.
One of these recent sales was Richfield Hospitality and Shelbourne Falcon Investors’ 50/50 joint venture acquisition of the 168-room Sheraton Chapel Hill Hotel in North Carolina. What was a little bit different about this acquisition was that the property was purchased for an undisclosed price in an off-market deal.

(more…)

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