 |
 |
|
|
| |
| |
| |
|
Statistics |
| Unique Visitors: 3 |
| Total Unique Visitors: 36910 |
| Visitors Out: 2492 |
| Total Visitors Out: 2499 |
|
|
|
| |
|
|
| |
|
| Purple Hotel sold |
| 2008-05-09 19:35:00 |
The Purple Hotel in Lincolnwood, legendary home to decay and debauchery, is being sold. The deal could lead to the demolition of a classy place to stay in the 1960s that 40 years later became better known as a host to rodents and sex parties. In the Tony Rezko political corruption trial, government witness Stuart Levine confessed to preferring the Purple for drug parties he organized with similarly addled pals.And no report on the hotel is complete without a mention of the mob hit in the parking lot 25 years ago. Allen Dorfman was the victim of the unsolved crime.
...
|
| |
|
| Buyers of condo-hotel hybrids who lost big are now suing |
| 2008-04-20 05:50:00 |
Condo-hotels, or condotels as some call them, aren't regulated by the Division of Florida Land Sales, Condominiums & Mobile Homes even though the state leads the nation in the number of condo-hotel units."It's a mess," said Raphan, an assistant ombudsman for the state agency.Raphan's view mirrors that of many who watched the novel craze begin and crash almost as quickly.
...
|
| |
|
| Hotel Real Estate Sales Continues Hyper-Active Trend in 2007, 2008 |
| 2008-04-12 02:55:00 |
Highlights of the report point out that 2007 was a mixed bag, ranging from mega-deals, such as the Blackstone Group's purchase of Hilton Hotels Corporation, valued at $26.3 billion, to transactions below $5 million. Transactions in the under $15 million category were particularly plentiful in 2007, with 426 reported sales. "Industry-wide, we tracked 736 transactions last year, with the average hotel sold having 196 rooms and generating an average price per key of a record $117,000, up from $110,000 a room in 2006 and up from the decade low of $52,000 in 2000," said Brandt Niehaus, CHB, HBI president and president of Louisville-based Huff, Niehaus & Associates. "The trend toward higher pricing reflected the operating strength of the industry in 2007, which produced a 5.7 percent improvement in RevPAR, according to Smith Travel Research."
...
|
| |
|
| Inverse Correlation - Dollar And Hotel Rates |
| 2008-04-01 15:49:00 |
Forbes has an article headlined "Dollar's Drain Is Hotel Industry's Gain". New York City hotels (and real estate), in particular, seem to have reaped the most benefits from the declining dollar as Europeans seem to have a relentless appetite for the sights and sounds of the Big Apple.This seeming inverse correlation (as the dollar gets "smaller" hotel rates seems to get "bigger" or at least help keep Revpar constant given some softness in occupancy) appears to be driven by both European and Asian markets.
...
|
| |
|
| InterContinental Opening Colombian Hotel |
| 2008-03-22 12:29:00 |
MIAMI - InterContinental Hotels Group PLC said Thursday it plans to open its first hotel property in Cartagena, Colombia.The Holiday Inn Express Cartagena Hotel & Suites, which will be a 32-story mixed-use complex, is set to open in early 2010, IHG said.Promotora San Martin Plaza will own the property, and IHG's Americas operations division, The Hotel Management Group, will manage the property under a long-term contract.
...
|
| |
|
| Sarovar Hotels and Resorts |
| 2008-03-15 12:57:00 |
It operates 36 properties in India including, Hometel, and three, four and five-star hotels under the Sarovar brand, and is also the master franchiser for Carlson Hospitality Worldwide’s Park Plaza and Park Inn brands. It has around 33 properties under various stages of development, which will all come up in about three years. “We are planning an investment of Rs 350-400 crore in the next few years to expand our chain of budget hotels and we need funds for this,” said Anil Madhok, managing directors, Sarovar Hotels.
...
|
| |
|
| Oberoi adds four hotels to ME region |
| 2008-03-08 16:01:00 |
Oberoi Hotels & Resorts offer a combination of breathtaking locations, luxurious environs and every modern-day amenity together with attentive and warm service, delivered with genuine care. Luxury as a unique, memorable and personal experience is core to the Oberoi philosophy and encompasses every element of a guest’s stay from the design of the hotel that takes its inspiration from the destination and interiors that showcase the local arts and crafts to a staff that is committed and inspired to deliver the finest service. The same philosophy extends to the design, interiors, facilities and the service extended at the Oberoi Spas.
...
|
| |
|
| Dubai firm seeks partners for $2 bln Islamic hotels |
| 2008-03-03 10:06:00 |
DUBAI, March 3 (Reuters) - Dubai-based Almulla Hospitality said on Monday it is seeking partners for a $2 billion plan to develop a hotel chain that complies with Islamic law, including a ban on alcohol."The market for Islamic hotels is currently fragmented due to lack of professional management and we recognise the growing need for a professionally-operated international hotel chain which operates on Islamic principles," the firm's chairman Abdulla Mohamed Almulla said in the statement.
...
|
| |
|
| US hotel real estate sales set for slide of up to 50% |
| 2008-02-28 04:58:00 |
Sales of US hotels are expected to fall as much as 50 per cent this year because the credit squeeze has reshaped investors' ability to purchase Estate">real estate, says a report due for release today.The value of hotel property sales is expected to fall to $23bn-$26bn, down from a record $45bn in 2007, as deals become more difficult, according to real estate brokers Jones Lang Lasalle. The expected slide in sales would more than undo last year's 38 per cent rise."The credit crunch has halted mega-deals and many portfolio deals," the report will say.
...
|
| |
|
| Hilton Garden Inn hotel has broken ground in Riverview |
| 2008-02-23 08:30:00 |
Scheduled to open in January 2009, the upscale but mid-priced property will feature 119 guest rooms, 4,000 square-feet of flexible meeting space, a workout facility and an indoor-outdoor swimming pool, said a release from GS Development LLC, a Tifton, Ga.-based multi-brand hotel company.The property also includes a restaurant and an on site guest laundry facility and wireless high-speed Internet access and other amenities.
...
|
| |
|
| A $45 million 'village' Publishers plan hotels in Intercourse |
| 2008-02-19 04:18:00 |
The owners of an Intercourse publishing company Monday unveiled a $45 million development plan designed to upgrade accommodations for the hundreds of thousands of people who visit the small village each year.Merle and Phyllis Good, owners of Good Enterprises Ltd., which includes a publishing company, showed Leacock Township supervisors architectural sketches of an ambitious project they call Village Green. It would be built on 26.6 acres adjacent to its publishing business, Good Books, in the 3500 block of Old Philadelphia Pike.
...
|
| |
|
| Moyer remaking derelict hotel into biz-class accommodations |
| 2008-02-15 15:41:00 |
The Cornelius Hotel, at Southwest Alder Street and Park Avenue, was built in 1908 and sports a grand lobby but has been closed for several years. Moyer acquired the historic property in 2002 for $2.4 million, according to Multnomah County property records.The hotel is being renovated by Moyer's firm, TMT Development Co., in partnership with TVA Architects.
...
|
| |
|
| Somerset park project |
| 2008-02-10 03:34:00 |
Highlands Real Estate Development, which owns the property where the park and hotel project would have been built, released few details on why it canceled the project, which reportedly would have cost several million dollars more than expected.Pam Wolfe, president of the development company, which Aldom said also owns the Ramada Inn in Ligonier and the Days Inn in Donegal, did not respond to a call for comment.
...
|
| |
|
| GIC Holds Talks to Buy |
| 2008-02-03 17:40:00 |
The Government of Singapore Investment Corp., more commonly known as GIC, is in advanced discussions to purchase the hotel, but a deal hasn't been sealed and no price has been agreed to, the person said. Morgan Stanley acquired the property, located in Tokyo's fashionable Ebisu district, in 2004 for about 50 billion yen ($469.6 million).
...
|
| |
|
| Commercial real estate: Allegria Hotel is clue to Garden City Hotel plans |
| 2008-01-28 00:22:00 |
The big news in the hospitality industry last week was the report that Allen Rosenberg, a Woodmere-based developer and landlord, is in contract to buy the Garden City Hotel for $91 million.The principals in that transaction aren't ready to talk, but a look at Rosenberg's other ongoing hotel project might be instructive for anyone wondering about the future of the venerable Garden City institution.
...
|
| |
|
| Airports Becoming Sought After Hotel Real Estate |
| 2008-01-22 04:19:00 |
Airport hotels ranked second behind luxury hotels in the estimated $5.5 billion the industry spent on capital on existing properties in 2007, according to Bjorn Hanson, head analyst at the hospitality division of PricewaterhouseCoopers.There are more than 20 generally upscale hotels in the planning stages across the United States, including hotel outlets in Chicago, Salt Lake City and San Francisco, says Jan Frietag, vice president of Global Development at Smith Travel Research.
...
|
| |
|
| CapMan establishes EUR 835 million hotel real estate fund |
| 2008-01-18 09:12:00 |
CapMan Plc has established a new private equity Estate">real estate fund,CapMan Hotels RE Ky, investing in hotel real estate. The fund hastoday signed an agreement on the acquisition of a EUR 805 millionhotel portfolio of 39 properties from Northern European PropertiesLtd (NEPR). The establishment of the new fund raises the totalcapital managed by CapMan by some 27 per cent to approx. EUR 3.8billion. The establishment of the fund is estimated to have aslightly positive impact on CapMan's result for 2008.
...
|
| |
|
| Hilton plan first branded residential hotel in Goa |
| 2008-01-12 18:20:00 |
NEW DELHI: Residential hotels are all set to debut in India. Such hotels combine the flexibility of a vacation home with the service of a hotel.Real estate developer, DLF will soon come up with India’s first branded residential hotel with the Hilton Group in Goa. The 200-room hotel with 80 villas that will be sold out as vacation homes on lease-back basis, will be operational in three years. DLF plans to have six hotels on similar format in five years.
...
|
| |
|
| A Defensive Strategy for REIT Investors |
| 2008-01-07 10:17:00 |
But last year, property REITs — companies that own portfolios of commercial real estate like hotels and office buildings, and make up the bulk of the market — posted negative returns of 15.7 percent, on average, according to the National Association of Real Estate Investment Trusts.Many investors had fled everything related to real estate because of the sagging housing market, though industry analysts attributed the reversal of fortunes for REITs largely to the credit problems that started in the subprime mortgage market. There are worries that these problems could eventually weaken the economy and stifle demand for commercial space.
...
|
| |
|
| Hospitality sector poised for significant growth |
| 2008-01-01 01:00:00 |
CHENNAI: Following the boom in the real estate sector, the hotels and hospitality sector appears poised for a major push over the next two to three years. According to some estimates by the Union Tourism Ministry, there can be an up to 80 per cent rise in hotel rooms in the next two years.Rooms are difficult to come by in New Delhi, Kolkota, Mumbai, Chennai, and Bangalore in particular. There are centres where not many quality or star hotels are available, but industrial and commercial development has already taken place. The hotel chains may be taking their time to develop facilities there.
...
|
| |
|
| Istithmar sells second Park Avenue property in New York for $1.15b |
| 2007-12-28 13:47:00 |
Dubai: Istithmar World Real Estate, a unit of the government-owned Dubai World conglomerate, said yesterday it had sold 230 Park Avenue for $1.15 billion, citing an "unusual opportunity" to sell the New York building it acquired for $705 million in 2005.The real estate owned by Dubai World in the US includes 450 Lexington Avenue, The W Hotel Union Square, The Mandarin Oriental Hotel and the Knickerbocker on Times Square.Dubai World chairman Sultan Ahmad Bin Sulayem said "market conditions created an unusual opportunity for us" to sell the two New York assets.
...
|
| |
|
| Final Design Unveiled For Indy's Largest Hotel |
| 2007-12-20 02:51:00 |
Plans have been released for the $425 million JW Marriott Complex in Indianapolis, which will house the city’s largest, full-service convention hotel. The complex will include a total of 1,568 rooms at four Marriott facilities. The project is expected to generate nearly 500 construction jobs and more than $5 million in sales tax revenue to the State of Indiana.
...
|
| |
|
| Young tycoon to open downtown hotel |
| 2007-12-13 04:14:00 |
At 25, most people are starting to build their résumés - not multimillion-dollar hotels.But Ben Nash, Brooklyn's youngest real estate tycoon, isn't most people, and he is hard at work on developing Indigo, a $60 million hotel he expects to open in downtown Brooklyn by 2010.That might sound like enough to keep him busy, but the Crown Heights native, who got his start as a cell phone salesman, still has plenty more he wants to do.
...
|
| |
|
| Wyndham Hotels and Resorts Opens First Hotel in Panama |
| 2007-12-06 12:24:00 |
The Wyndham Hotels and Resorts brand will fly its first flag in Panama with the conversion of the five-star, 301-room Veneto Hotel & Casino in Panama City to The Veneto, A Wyndham® Grand Hotel.Peter Strebel, Wyndham Hotels and Resorts president, said the introduction of the Wyndham brand in Panama is part of the brand's strategy to pursue flagship Wyndham hotel properties in key international and gateway cities.
...
|
| |
|
| Lakeview Hotel Real Estate Investment Trust reports 3rd quarter financial results |
| 2007-11-29 12:18:00 |
WINNIPEG, Nov. 29 /CNW/ - Lakeview Hotel Estate">Real Estate Investment Trust("Lakeview REIT") is pleased to report its financial results for the threemonths ended September 30, 2007. The following comments in regard to thefinancial results should be read in conjunction with the September 30, 2007financial statements and Management Discussion and Analysis which areavailable on the SEDAR website www.sedar.com and on the Lakeview REIT websitewww.lakeviewreit.com.
...
|
| |
|
|
| Royal Orchid subsidiary acquires hotel |
| 2007-11-16 03:22:00 |
Bangalore (PTI): Icon Hospitality, a subsidiary of Bangalore-headquartered Royal Orchid Hotels, on Thursday said it has acquired Hotel Royal Orchid Central for a consideration of Rs 82 crore.Icon Hospitality had leased the property since 2003 and decided to effect a buyout so as to better control the product offering, Royal Orchid Hotels chairman and managing director Chender Baljee told reporters here.
...
|
| |
|
| Boutique hotel owner plots growth |
| 2007-11-11 01:48:00 |
Magnolia Hotels said Thursday it hired Thomas Evans as the new vice president of acquisitions to oversee hotel growth. Evans was a principal of Flatiron Hospitality Real Estate Advisors in Denver prior to joining Magnolia Hotels."We are working on getting a fifth hotel," said Dana Berry, Magnolia Hotel spokeswoman. She said the company is looking at several cities, including Memphis.
...
|
| |
|
| Alain Pinel Realtors to Sell Westin Verasa Hotel Condominiums |
| 2007-11-06 03:58:00 |
RISMEDIA, Nov. 6, 2007-Alain Pinel Realtors (APR) President and Chief Operating Officer Larry Knapp announced that the company has moved its primary wine country office to Napa and concurrently secured the marketing assignment to sell the remaining hotel condominium rooms associated with the prestigious Westin Verasa. The resort development is two blocks from downtown Napa in the gateway to California’s iconic wine country.
...
|
| |
|
| Hotels making room for convention trade |
| 2007-11-01 12:16:00 |
The planned expansion of the Indiana Convention Center won't be finished until 2010, but Downtown hotels already are pouring millions of dollars into expanding and upgrading their meeting facilities.The latest project, at the Westin Indianapolis, is a $6 million upgrade of its meeting space. Conventions and business meetings account for about 60 percent of the hotel's business, said Dale McCarty, general manager.
...
|
| |
|
| Optimum Hotel Brokerage Sells Westport Inn in Westport, Connecticut |
| 2007-10-27 15:56:00 |
Optimum Hotel Brokerage announced today that the firm has closed on the sale of the Westport Inn in affluent Westport, Connecticut. The 115-room independent boutique hotel occupies a prominent location on the Post Road in the tony suburban coastal enclave, home to Wall Street executives, celebrities and multi-billion dollar hedge funds. Joe McCann, president of Philadelphia-based Optimum Hotel Brokerage represented the seller in the transaction. The Fairfield County landmark was purchased by a New York-based owner and developer. The property occupies more than three acres and features an indoor pool, fitness facility, meeting space, and restaurant and lounge.
...
|
| |
|
| The Shattuck Hotel: Berkeley’s Once and Future Jewel? |
| 2007-10-21 07:25:00 |
If Berkeley has a heart, it must be located on the 2200 block of Shattuck Avenue between Kittredge St. and Allston Way. This is the site that Berkeley’s founder, Francis Kittredge Shattuck, chose as his homestead.Although the Gold Rush lured him to California, Shattuck (1824–1898) made his fortune by other means. In 1852, he teamed up with George Blake, William Hillegass, and James Leonard to file a claim on a square mile in what is now central Berkeley.
...
|
| |
|
| Hilton signs agreement for 15 hotels in Turkey |
| 2007-10-17 05:40:00 |
Hilton Hotels Corporation has signed an agreement with Amplio Real Estate Investment and Development A.Ş., that envisages establishing 15 new hotels with room capacity of 2,500 in various locations around Turkey.The first hotels to be managed by Hilton will be Hampton by Hilton and Hilton Inn hotels in Manisa and Diyarbakır and are expected to be complete within five years.Hilton Hotels European President Wolfgang M. Neumann stressed that signing such "multi-hotel" agreements strengthens the corporation's leading position in hotel management and these agreements is a sign of the firm's strategy in emerging markets that are key points like Turkey. He described the agreement with Ampli
...
|
| |
|
| Trump fired up about Toronto tower |
| 2007-10-12 16:19:00 |
The Donald flew into Toronto in his private jet today to break ground on the 57-storey Trump International Hotel & Tower.“This will be one of the great buildings in the world,†New York developer Donald Trump told a small tented audience on the Bay St. site of the proposed skyscraper at the intersection of Bay and Adelaide Sts. in the city’s financial district.
...
|
| |
|
| Hotel Investors Pack Up |
| 2007-10-06 17:41:00 |
Worries about the credit crunch and an economic slowdown are lodged into the minds of hotel investors. The credit crunch has pressured the companies' asset values, and a weakening economy may cut profits over the next year. That has led real estate investors to wonder just how much profit power hotel owners and operators will have over the next year. Arabia says the market is concerned about how much the broader economy's weakness - particularly within financial services firms -- will affect the hotel industry. Financial firms, in particular, are major business-travel customers that have absorbed hotel room rate increases in recent years.
...
|
| |
|
| Inland American Lodging Buys 248-Key Hilton Hotel |
| 2007-10-02 10:58:00 |
GAINESVILLE, FL-Orlando-based Inland American Lodging Corp. has acquired the 248-room University of Florida Hilton Hotel. The hotel was acquired from Cornerstone Real Estate Advisors LLC. The acquisition price was not released, but the property is valued at more than $20 million, according to public records. Inland American Lodging Corp. is a subsidiary of Oak Brook, IL-based Inland American Real Estate Trust Inc. The hotel will remain a Hilton property and will be managed by Memphis-based Davidson Hotel Co. “Investors were attracted to the Hilton’s overall quality, extensive conference center facilities and the consistent demand base generated by its University of Florida orientation,†says Molinaro Koge
...
|
| |
|
| Phuket's hotels real estate market |
| 2007-09-28 16:20:00 |
Along with the booming tourism industry, Phuket's Estate">real estate market continues to draw substantial interest from foreign investors. However, evidence from the number of business registrations and land office show that actual number of transactions in the market has dropped due to the current political situation in Thailand. This is not reflective of demand for high-end villas and condominiums. CB Richard Ellis has seen a greater number of well qualified buyers and enquiries in 2007, but buyers are proceeding to purchase with greater caution.
...
|
| |
|
| Australia - Iconic heritage listed hotel in Greenough for sale |
| 2007-09-25 15:11:00 |
Hampton Arms includes a pub, bookshop, hotel accommodation, beer garden and a function centre with 4.8ha of riverside land. 3L Real Estate agent Hadley Shearn said the establishment was built in 1863. "For more than 70 years it has been the hub of society in Greenough, with local sporting events and horse races organised around the Hampton Arms, he said. The owner has run the establishment since 1984.
...
|
| |
|
| Inland buying hotel group |
| 2007-09-21 21:41:00 |
Cash-rich Inland American Real Estate Trust Inc. of Oak Brook has agreed to pay about $920 million for an affiliate of the largest African-American-owned hotel investment company in the nation, RLJ Development LLC.RLJ Urban Fund is among the lodging investment vehicles founded by Thomas J. Baltimore Jr. and Robert L. Johnson, who started the Black Entertainment Network.
...
|
| |
|
| Indian Hotels acquires 10 pct stake in Orient Express |
| 2007-09-18 05:27:00 |
MUMBAI (Reuters) - Indian Hotels Co Ltd said on Monday it had paid $211.3 million for a strategic 10 percent stake in Orient-Express Hotels Ltd, and said the two companies were in talks to form an alliance. India's largest hotels operator, which owns the Taj group of luxury hotels and resorts, struck the deal through a wholly owned subsidiary, Samsara Properties, with a view to expand its brand internationally, the company said in a statement. "As part of this strategy, we have been pursuing alliances and relationships with leading hotel groups that have not yet up a presence in India, but have secured leadership positions in various geographies," R.K. Krishna Kumar, vice chairman of Indian
...
|
| |
|
| |
 |
|
| |
| |
|
 |
