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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: January 2010
Slow recovery seen for U.S. hotel industry
(Reuters) – It is a buyer’s market for hotel rooms in the United States, and the situation is not likely to change soon.
Hotel occupancy rates have stabilized, but discounting of room prices remains rampant in many markets, indicating a slow recovery for the industry.
While most participants at a hotel business conference in San Diego [...]
Posted in Hotels, Market News Comments closed
Hotel Values Off 34% From Peak
The full impact of the recession continued to hamper transactional activity and reduce average property values across the hotel, pub, restaurant, leisure, care and retail sectors during 2009, according to Christie + Co’s Business Outlook 2010 publication.
The report shows that values in the hotel sector reduced by 19.5% during 2009, whilst the pub and restaurant [...]
Posted in Hotels, Market News Comments closed
WSJ: Unfinished Commercial RE Projects Weigh on Banks
Banks will have their hands full in the coming months. About $566 billion in commercial real-estate debt, the majority of which was provided by banks, comes due in 2010 and 2011, according to Oakland, Calif., research firm Foresight Analytics LLC. The struggling commercial real-estate loan market is increasingly cited by bank regulators as a growing [...]
Posted in Market News Comments closed
2010 Hotel Market Predictions: STR
Occupancy remains flat
Small ADR increase
RevPAR to Drop
Supply and Demand to remain even
Overall: FLAT BOTTOM for 2010 (JLD)
STR projects 2010 occupancy to be flat at 55.1 percent, ADR to decrease 3.2 percent to US$94.39, and revenue per available room to drop 3.2 percent to US$51.99.
Supply growth and demand growth during 2010 are both expected to increase [...]
Posted in Market News Comments closed
Extended Stay returns from Chapter 11
Bankrupt hotel change Extended Stay is to re-enter business after securing US$400m in a further sign of a recovery in the hotel real estate market. Investment firms Centerbridge Partners and Paulson & Co have agreed to invest in the long-stay specialist, although the project will need court approval.
Extended Stay, which has operations in many major [...]
Posted in Hotels, Market News Comments closed
Why Hotels Are Not Recovering Any Time Soon
DEMAND
It won’t be a surprise to anyone that demand is down sharply. In fact, demand is down more than was seen in the 1990-91 and post-9/11 recessions. Demand declined 5.5-6% in 2009 and that compares to declines of 2% in 2002 and 1% in 1991. Demand is projected to be up 1-1.5% in 2010, with [...]
Posted in Hotels, Market News Comments closed
10. A star footballer criticized his ocean-view hotel room overlooking Sydney’s Manly beach as being unsuitable because the “sound of the ocean kept him awake”.
Top Ten Best Results collected from Novotel Hotel Survey:
Guest who insisted the concierge “arrange an appointment with the Prime Minister”. – Wait a sec., was this me? Sounds vaguely familiar. Really. JLD
One hotel worker removed a (less than 1 inch) long gecko, after being asked to remove a ‘hazardous reptile from room’. - Would be my mother!! [...]
Posted in Hotels Comments closed
Starwood Signs Two Hotels in China
The Luxury Collection brand has signed two new deals to open its first hotels in China. The Astor Hotel, a Luxury Collection Hotel, is scheduled to open as a Luxury Collection Hotel in May 2010 after a $22 million renovation, and The Malus Sanya, a Luxury Collection Resort, a new-build resort set to open in [...]
Posted in Hotels, Uncategorized Comments closed
China’s economy grows by 10.7%; leads world in recovery
Experts believe China is likely to leapfrog Japan this year to become the world’s second largest economy
The Chinese economy returned to double digit growth in the fourth quarter, with a jump of 10.7% year-on-year, but inflation is creeping up again amid fears of overheating.
Speculation in the stock market and property, fuelled by last year’s cheap [...]
Posted in Market News Comments closed
Luxury Hotels Aim to Turn Downtown L.A. Into Times Square West
By Nadja Brandt click here for full story…
Jan. 15 (Bloomberg) — Luxury hotel owners are betting that downtown Los Angeles — an area dominated by government buildings, law offices and banks — will lure convention visitors and tourists from the city’s ritzy enclaves.
Marriott International Inc. will open a Ritz-Carlton, downtown L.A.’s first five-star hotel, and [...]
Posted in Uncategorized Comments closed
CRE Delinquency Volume Last Year Tops $94 Billion
Commercial mortgage-backed securities loans and bank commercial real estate loans 30 days or more delinquent add up to more than $94 billion.
Trepp LLC, New York, reported a 6.07 percent December CMBS delinquency rate for loans 30 days or more late and a 500 percent increase for the year.
Trepp said 3,476 CMBS delinquent loans hit $44.165 billion with [...]
Posted in Market News, Uncategorized Comments closed
Fear and Growing in Las Vegas
It’s no shock that all eyes have been on the multibillion-dollar CityCenter project in Las Vegas as of late. As HotelNewsNow.com’s Patrick Mayock reported last week, the new 67-acre centerpiece of the Las Vegas Strip has been worth the five-year wait. It is spectacular in all ways, even though it isn’t even fully completed. But judging [...]
Posted in Hotels Comments closed
New Brightside Fund to purchase 25 US hotels all cash
Daniell Development is proud to announce the Brightside Distressed Hotel Project in joint venture with Institutional Banks in Beijing, ROC. Our model is to aggressively purchase hotel assets using an all-cash purchase method, closing in less than 30 days of LOI. To submit a hotel asset to our acquisitions department, please click here.
Hotel Parameters:
Location: USA [...]
Posted in Uncategorized Comments closed
Pebblebrook up; analysts bullish on stock
From BusinessWeek…Click here for full story….
Shares of Pebblebrook Hotel Trust rose Tuesday after analysts said the real estate investment trust is in good position to buy distressed properties that may recover their value over the next several years.
Pebblebrook was formed to invest in hotel properties in large American cities. The REIT went public last month [...]
Posted in Uncategorized Comments closed
20 predictions for real estate and the economy
Here are some thoughts from a recent major real-estate conference on where the industry and economy are headed:
No expert or economist who spoke was willing to make any prediction of where we will be in three years.
Development is dead for all real estate for at least three years.
Recovery will be slow. GDP in 3Q [...]
Posted in Hotels, Market News, Uncategorized Comments closed
Starwood Creates 2 Franchise Organizations For North America
Move intended to drive maximum value for select-service, full-service franchise partners.
Starwood Hotels & Resorts Worldwide Inc. announces a realignment of resources within its North America franchise business to optimize support for franchise owners and hotels. The streamlined model provides for two distinct, committed support organizations – one to service Starwood’s rapidly growing Select Service [...]
Posted in Hotels, Uncategorized Comments closed
818-meter Burj Dubai: 1/2 mile tall, US 4,000,000,000 dollars with Armani Hotel
Beyond Dubai: What’s Ahead for the Middle East This Year?
Published in Knowledge@Wharton
When the 818-meter Burj Dubai tower, the world’s tallest building, opened for occupancy with lots of fanfare on January 4, it was proclaimed to be a crowning achievement of the emirate of Dubai, with its bold plans to establish itself as a regional trade and [...]
Posted in Hotels Comments closed
Blackstone Making Play for Control of Highland Hospitality
Blackstone Group LP is aiming to control the restructuring of hotel owner Highland Hospitality Corp. after purchasing a key slice of Highland’s debt from Wachovia Corp., according to people familiar with the matter.
Blackstone’s move comes as Highland, a real estate investment trust that owns 27 hotels, is struggling to restructure its $1.7 billion debt load [...]
Posted in Market News Comments closed
Even More Room at the Inn