-
Manchester Arts District »NEW 2010 - Active
Daniell Development To Take On Largest Penthouse Project »July 2009 - Closed
Residential Portfolio III: Income Producing Portfolio »October 2009 - Closed
Residential Portfolio: Upscale Income Producing Portfolio »June 2009 - Closed
Bond structure on new hotel: Sheraton Atlanta »May 2009 - Active
Subdivision Portfolio: 40 New Homes: Performing »April 2009 - Closed
Bank Partner Golf Course Portfolio »April 2009 - ClosedFeb 2009 Subdivision Portfolio: Townhome Partnership Performing »February 2009 - ClosedCountry Club Portfolio: Performing, Partnership »February 2009 - ClosedPlease contact Daniell Development, Inc.
for complete projects list.
Monthly Archives: October 2009
Auction Block: Colorado Luxury Ski Chalet – 5 star resort
JLD: As acting liaison for premium-grade luxury class assets we provide the following services: Due Diligence, Valuation, Negotiation, Contracts, Bidding, Operational Overview, Management, Branding, Promotions, Positioning and Reporting. Please contact us directly for more information and request a “Luxury Asset Review Report”.
Considered an iconic acquisition and meant for a more than 5 year hold. We [...]
Posted in Hotels for Sale, Uncategorized Comments closed
HVS: US Hotel Valuation Index 2009
The 2009 publication of the HVI marks an unprecedented time for hotel values. As markets fluctuated wildly throughout the past year and major banking institutions folded, hotel demand dropped dramatically, and average rates soon followed suit. The trend has continued into the summer, rendering prior forecasts for a ‘quick recovery’ defunct. To understand the 2009 [...]
Posted in Uncategorized Comments closed
CMBS face bankruptcy test
Investors in commercial mortgage-backed securities are closely watching two major bankruptcy court cases which will shape the future of the asset class, the head of restructuring for Perella Weinberg Partners said on Wednesday.
The outcome of the bankruptcies of hotel chain Extended Stay and mall operator General Growth Partners will address many of the uncertainties surrounding [...]
Posted in Hotels, Market News Comments closed
A New Way to Invest – Atlanta’s Carnegie Boutique Hotel
The great team over at Vici has developed a new boutique hotel in the middle of downtown Atlanta. What’s more interesting than the hip location, the awesome interior mezzanine, and the triangular shape reminiscent of NYC – is the new method of investment. Vici has ponied up over US $21,000,000 for the renovation and development. [...]
Posted in Uncategorized Comments closed
Accor’s nine-month revenue down 8.2 percent
PARIS—In an economic environment that has seen no significant improvement,
Prepaid Services revenue rose by 3.6% like-for-like despite rising unemployment and the steep decline in interest rates worldwide.
Hotel revenue retreated by 10.7% like-for-like, with the Economy segment showing relatively good resilience, particularly in France.
Consolidated revenue for the first nine months of 2009 totaled €5,258 million, down [...]
Posted in Hotels, Market News Comments closed
Unprecedented U.S. corp. defaults
NEW YORK – U.S. corporate debt default rates are expected to hit “unprecedented” levels in 2009, even though the economy may be past the halfway mark of the U.S. recession, according to a forecast unveiled on Monday at the Reuters Restructuring Summit.
“There is a lot of pain left — we are only just half way [...]
Posted in Uncategorized Comments closed
AAA Launches Program To Identify Green Hotels
New icon highlights eco-certified lodgings in AAA travel information
In response to growing member interest in green hotels, AAA has launched a program to highlight AAA Approved lodgings that have been eco-certified through a well-established government or private program.
A bright green “ECO” symbol makes it easy to identify eco-friendly lodgings in the new 2010 editions of [...]
Posted in Uncategorized Comments closed
Cuban-Chinese hotel project targets US market
HAVANA – The Hemingway Hotel may have an American ring to it, but it is the name of a Chinese-Cuban venture scheduled for groundbreaking this year with an apparent eye on the U.S. market, tourism industry sources said.
State-run Suntine International-Economic Trading Company of China and Cuba’s Cubanacan hotel group are partners in the project, which [...]
Posted in Uncategorized Comments closed
Performance Potential of Mid-Scale Hotels: Less May Be More – By Daniel McCoy
Hotel stakeholders have to know the right place, time, and hotel category to maximize investments. In the present economic climate, mid-scale, limited-service hotels may be a good bet.
During the last decade, mid-scale, limited-service hotels have been one of the fastest-growing and most successful segments of the lodging industry. Relative to their upscale and full-service counterparts, [...]
Posted in Hotels Comments closed
Cornell University: Center for Hospitality Research
Executive Summary: As an alternative, we identify the competitive set using cluster analysis based on hotels’ average daily rate (ADR). A cluster analysis of the ADR of 49 hotels in one urban tract in the U.S. found five competitive clusters, in which upscale properties were in some cases competing directly with economy hotels. This analysis indicates [...]
Posted in Hotels, Market News, Uncategorized Comments closed
Hotel Industry’s Pulse (HIP) forecasts rebound
This morning economic research firm e-forecasting.com in conjunction with STR announced HIP continued to break its downward path. Following 19 months of decline, HIP went up for the second month in a row, gaining 1.5 percent in August. HIP, the Hotel Industry’s Pulse index, is composite indicator that gauges business activity in the U.S. hotel [...]
Posted in Hotels, Market News Comments closed
Man in Black: We are at $6 Billion in hotel loans “in” or “headed towards” default
I am sorry to report that Special Servicing just went above $50B ($50,000,000,000). I know I will be persecuted by my hotel industry friends for “bearing bad tidings”, “declaring the sky is falling” and “spreading panic” by means of this hoteldefaultblog you are reading. (No one claims I am not being 100% truthful).
So here’s the utility of [...]
Posted in Uncategorized Comments closed
GM to sell prestigious HUMMER brand to China
DETROIT (Reuters) – General Motors Co signed a deal on Friday to sell its iconic but tarnished Hummer brand to an investment partnership headed by an obscure Chinese machinery maker in an agreement that underscores the fast rise and global ambition of the Chinese auto industry.
The deal with China’s Sichuan Tengzhong Heavy Industrial Machinery caps [...]
Posted in Market News Comments closed
US Star Report for Sept 27 thru Oct 3, 2009
In year-over-year measurements, the industry’s occupancy fell 5.8 percent to end the week at 55.8 percent. Average daily rate dropped 8.3 percent to finish the week at US$95.51. Revenue per available room for the week decreased 13.7 percent to finish at US$53.30.
Among the Top 25 Markets, Oahu Island, Hawaii, reported the largest increases in all [...]
Posted in Hotels, Market News Comments closed
Concord Hospitality to Form Private Equity Fund
Concord Hospitality Enterprises today announced that it has entered the initial stage of forming a $300 million discretionary private equity fund. The fund, which will focus on acquiring distressed hotels and debt, is expected to close within the next 90 days. Click here for full article on Concord from Hotel News Resource….JLD
Posted in Funds Comments closed
Great Acquisition: Crowne Plaza hotel sold less than US $10,000 per key
Dayton- 283 rooms sold for 2.6MM to Integrity Hotels Group LLC, bought from CWCapital in 2008 for 6.1MM, a 3.5 MM drop. On average, that’s less than $10,000 per room. New owner Abdul Rupani is asking city for additional renovation funds of 500K. I would infer that this deal is about a 25% IRR on the [...]
Posted in Hotels, Hotels for Sale Comments closed
Start of W shaped recession? Payrolls take hit
U.S. employers cut a deeper-than-expected 263,000 jobs in September, lifting the unemployment rate to 9.8 percent, according to a government report on Friday that fueled fears the weak labor market could undermine economic recovery.
The Labor Department said the unemployment rate was the highest since June 1983 and payrolls had now dropped for 21 consecutive months. [...]
Posted in Market News Comments closed
Visit to the Fed reveals eye-opening realities for hotels
I recently attended a conference sponsored by the Federal Reserve Bank of Atlanta that focused on issues confronting commercial real estate. While it gave me an opportunity to speak directly to the banking community about some of the financing problems in the lodging sector, I found the session fascinating for several reasons.
While STR focuses primarily [...]
Posted in Uncategorized Comments closed
JLL’s De Haast: Hotels could lead real-estate recovery
CHICAGO—Though the commercial real-estate sector’s problems are far from over, leading economic indicators suggest small signs of recovery—and hotels could lead the way, according to Arthur de Haast of Jones Lang LaSalle Hotels.
The global CEO of the London-based hotel investment and advisory company said revenue-per-available-room declines have been slowing across the board, with some [...]
Posted in Hotels, Market News Comments closed
Man in Black talking about Hotels in RED