-
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: March 2010
e-forecast’s HIL regains lost ground
DURHAM, New Hampshire—The U.S. Hotel Industry Leading Indicator, or HIL, went up 0.6 percent in February, gaining ground after last month’s 0.1-percent decline, according to economic research firm e-forecasting.com in conjunction with STR.
HIL is a composite leading indicator that, on average, leads the industry’s business activity four to five months in advance. The latest increase [...]
Posted in Market News Comments closed
Chinese firm buys L.A. Marriott
Shenzhen New World Group Co. buys the 469-room hotel out of foreclosure for an estimated $60 million, about half of what it sold for in 2007. Shenzhen plans to invest $13 million in upgrades.
The Los Angeles Marriott Downtown has been purchased out of foreclosure by a Chinese real estate development company that vows to improve [...]
Posted in Uncategorized Comments closed
Atlanta Downtown: W Hotel owners working to prevent foreclosure
A junior lender on the W Atlanta-Downtown hotel and condos at Allen Plaza has advertised the posh hotel for foreclosure, but the project’s developer said Wednesday he is in talks to restructure the debt and save his interests in the luxury high-rise.
Hal Barry, CEO of Barry Real Estate Cos., said he is working with his [...]
Posted in Hotels for Sale, Market News Comments closed
W Union Square Put Into Bankruptcy
(Bloomberg) – The W New York Union Square hotel was put into bankruptcy by the junior mezzanine lender that took over ownership of the Manhattan luxury property in December from Dubai World.
Hotels Union Square Mezz 1, an entity controlled by junior lender LEM that owns the hotel, filed for bankruptcy yesterday in Delaware, saying it owes [...]
Posted in Uncategorized Comments closed
Hard times send hotel industry into ’survival mode’
By Gary Stoller, USA TODAY
“The unfortunate reality of today’s marketplace,” says Hotels magazine Editor-in-Chief Jeff Weinstein, is hotels are “more focused on saving cash than delivering the best service.”
Hit by a declining demand for rooms, low room rates and plummeting revenue, hotel companies have laid off hundreds of thousands of employees and are struggling to maintain [...]
Posted in Market News Comments closed
Dallas-Fort Worth commercial foreclosure filings top $1 billion
Commercial property foreclosure filings in the Dallas-Fort Worth area top $1 billion for the upcoming April sales. That’s much higher than commercial foreclosure posting totals in recent months. ”It’s certainly the highest we’ve seen in this cycle,” George Roddy of Foreclosure Listing Service said Monday. The Addison-based foreclosure-tracking firm counts 333 D-FW commercial properties scheduled [...]
Posted in Market News Comments closed
Foreclosure proceedings against Staten Island Hotel
The Staten Island Hotel in Graniteville is the latest victim of an inhospitable economy.
Foreclosure proceedings against the new hotel owners have begun, with various mortgage holders seeking payment on $10.7 million in outstanding loans and interest.
It’s also another troubling default for Leib Puretz, the Brooklyn-based builder who invested heavily in a variety of Staten Island [...]
Posted in Hotels for Sale Comments closed
Marriott Uses Celebrities To Promote Renovations On Twitter
Marriott has invited several well-known Twitter users, including celebrities and journalists, to communicate their experiences at selected properties to followers live on the micro-blogging site. “We wanted to communicate this news in an original and forward-thinking way that would resonate well with our guests,” says Osama Hirzalla, Marriott’s vice president of brand marketing and e-commerce [...]
Posted in Hotels Comments closed
Year of the Tiger’s Most Anticipated Hotel Openings
HBA has an exciting year ahead, with over 17 new projects openings worldwide, the Chinese Year of the Tiger will reveal some of the most esteemed and highly coveted interiors in the world.
Asia accounts for just over half of all hospitality industry projects being completed by the global design leaders, with three projects alone in [...]
Posted in Hotels, Press Releases Comments closed
Extended Stay America could exit bankruptcy
NEW YORK (Reuters) – U.S. mid-priced hotel chain Extended Stay America Inc could exit bankruptcy protection as soon as June, according to new reorganization plans filed on Friday.
The company, which runs over 650 hotels, said in court documents that it is seeking confirmation of its proposed bankruptcy reorganization in June, and could emerge from court [...]
Posted in Hotels for Sale Comments closed
South Carolina Hotel 179 rooms at $6,500 per key
74,521 total building square footage, 7.5 acres/326,700, 179 room hotel (111 double/double, 59 king and 9 suites, adjacent to I-95/I-20 junction, sold for $4.4 million in 2007, replacement cost $8 million, Bank-owned, Outdoor pool, Gym fitness center, Business center, Meeting facilities, Restaurant, Guest laundry, near NASCAR’ s Darlington Raceway. Click here for map…
Posted in Hotels for Sale Comments closed
Georgia Hotel 95 Rooms on Interstate $14,000 per key
Can buy at 14,000 per key, owner financing, recently remodeled and rebranded, 95 rooms, Appraised at 5.2MM, replacement is 8MM. Click here for map…
Posted in Hotels for Sale Comments closed
Georgia Hotel 103 rooms at $77,000 per key
For Sale: 77K per room, occupancy 55%, can be reflagged as Fairfield or Spring Hill Suites, located on Cobb Parkway right next to Interstate 285 and across the street from both Cumberland Mall and Cobb Galleria Center. Has 103 rooms, is full service, heated indoor pool with spa and exercise room. A meeting room with [...]
Posted in Hotels for Sale Comments closed
Accor launching “Crazy Prices” campaign
Accor has launched is “Crazy Prices” Ad Campaign on its 2,000 hotels in Europe and slashing prices for March 2010 thru May 2010 by up to 50%. Details include: must order between March 13 and March 22, 2010 ( members get 2 extra days to order). Travel between March 22 and May 2, 2010. For [...]
Posted in Hotels Comments closed
US Sunstone appoints COO, promoted from within
The decision to promote the executives comes shortly after Buser and Executive Chairman Robert Alter said they would forgo part of their pay for 2009 and 2010. The pay cuts were made so “they could fund additional compensation to additional members of the team,” Cruse said in an interview. Buser said through a spokeswoman that [...]
Posted in Hotels Comments closed
WTTC releases 2010 predictions
The World Travel & Tourism Council, in its 2010 Executive Summary, gave predictions for 2010. The WTTC said global travel and tourism economy GDP declined by 4.8% in 2009, causing a loss of almost 5 million jobs. Even in such a depressed year for activity, travel and tourism still employed over 235 million people across [...]
Posted in Market News Comments closed
Arne Sorenson on CNBC friday: Biz Travel up softly
In an interview with CNBC, Marriott President and COO Arne Sorenson said the picture today is very different from a year ago, when “business travellers were stuck in their offices, worried about their jobs, worried about their balance sheets.”
“Those business travellers are back on the road,” he said. “It doesn’t mean that from now on [...]
Posted in Market News Comments closed
Aloft: allowing guests to check in with Smart Technology
Made possible through a partnership with VingCard Elsafe, the Smart Check-In caters to a new generation of guests on the go who are more interested in high-tech than high-touch service. Technology has been a vital component of the brand’s DNA from day one, when Aloft Hotels debuted in virtual reality on Second Life. Click here [...]
Posted in Hotels Comments closed
Marriott plan dead, Hyatt plan on hold