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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: May 2010
IPad: Hotel hype or help?
After its release, the techno-pundits and early adopters are mixed in their reactions to the iPad, Apple’s slick touch-screen tablet computer. Within the hotel sector, consultants and operators believe the gadget will serve a practical purpose.
Ask Charles Yap, and he will tell you it’s the buzz and the utility that makes the iPad interesting.
As [...]
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According to Mickey Mouse, the recession is over
Peering over the plethora of mouse ears at Disney World a couple of weeks ago, I took note of the fact that even in the midst of the low season in Orlando, the place was pretty packed. Not shoulder to shoulder, but nonetheless there were long lines for rides and full tables in the restaurants. [...]
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U.S. plays down European crisis but China worried
The US suggested Europe’s debt crisis would have minimal impact on global growth, but China took a more pessimistic view, warning it would impact demand for its exports and other regions would suffer too.
CHINA
The two countries, meeting in Beijing for high-level talks, set the differing tones as eurozone leaders sought to conquer doubts that they [...]
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California hotel defaults, foreclosures and sales — weather vane for hotels everywhere? Atlas Hospitality Group’s latest survey
Last week in Los Angeles, Alan Reay, CEO and founder of Atlas Hospitality Group, presented hotel industry executives with the latest information from the company’s sales survey. Reay recounted Atlas Hospitality’s 2009 projections, and showed how accurate they were wtih a comparison of forecast versus actual results. He also noted how the recent “Perfect Storm” [...]
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Accor plans to sell 450 hotels
French hotel giant Accor says it will sell off more than a quarter of the 1,600 hotels it owns over the next few years, as the company restructures its portfolio to focus more on managed and franchised properties.
The sale of some 450 properties is expected to raise about $2 billion in cash while reducing revenue by $183 [...]
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Research firm completes reports on distressed U.S. hotels
Nearly 200 hotels in the U.S. are in trouble with their lenders, and 120 hotel construction projects have been put on hold, according to two new reports from Lodging Econometrics.
The reports were done to help investors find opportunities.
The Distressed Hotel Asset report includes details on every hotel with a public record of distress over the [...]
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CMBS problems have just begun
LOS ANGELES—The volume and complexity of the commercial mortgage-backed securities distressed assets was a hot topic last week at Jeffer Mangels Butler & Marmaro’s Meet the Money conference—and the problems are only just beginning to be understood.
There are a record in number of CMBS assets in special servicing in the U.S., according to Kevin Donahue, senior [...]
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10 Travel Innovation Trends for 2010
Alternate Distribution Systems: The Next Round of Attack on GDSs
Mobile: Going Where No Platform Has Gone Before
Communicating Anywhere: The Twitter Effect
Merchandising Simplified Through Offer-Optimizer Technology
New Technologies Improve Web Presence
Social Media Monitoring Supersedes Reputation Management
Social Media and Location-Based Services Converge
Travel Information: Anytime, Anyhow
Cross-Channel and Viral Marketing: A Brave New World
Emerging Computer Capabilities Catapult Business Opportunities
Click here [...]
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More hotels are facing foreclosure, bankruptcy
The U.S. hotel industry is bracing for more foreclosures or bankruptcies this year as owners increasingly fail to pay back maturing loans or fall behind on payments.
Until now, hotels have been spared from waves of foreclosures that have rocked the housing market. But that could change this year, says Los Angeles hotel attorney Jim Butler. [...]
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Mission Capital Marketing $300 Million CMBS Portfolio
Mission Capital Advisors is marketing 36 nonperforming CMBS loans with an aggregate outstanding balance of roughy $300 million backed by over 4.6 million square feet of income property real estate located throughout the U.S.
The CMBS special servicer loan sale offers prospective bidders a chance to uy any number of the 36 nonperforming loans secured by office, retail, [...]
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Fitch Publishes U.S. CMBS Focus Report – Second Quarter 2010 Update on ML-CFC 2007-8
NEW YORK–(BUSINESS WIRE)–Fitch Ratings has published its U.S. CMBS Focus Performance Report – Second Quarter 2010 Update on ML-CFC Commercial Mortgage Trust, series 2007-8 (MLCFC 2007-8). The report provides a detailed and up-to-date perspective on key credit characteristics of the MLCFC 2007-8 transaction and updated property-level performance of the related trust loans.
The report is available [...]
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STR Weekly Report May 2010
The U.S. hotel industry reported mixed results in the three key performance measurements during the week of 25 April-1 May 2010, according to data from STR.
In year-over-year measurements, the industry’s occupancy increased 5.7 percent to 58.8 percent. Average daily rate dropped 1.5 percent to US$98.07. Revenue per available room rose 4.2 percent to US$57.62.
Among the [...]
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Hotel Numbers tell an optimistic story
LOS ANGELES—It was a surprisingly good first quarter according to the research experts. Leading the optimism is demand. “Demand has been very strong,” said Greg Hartmann, managing director of STR Analytics. “In fact, the first quarter of 2010 has seen the highest demand growth since 1989.”
Demand grew 5.3 percent in the first quarter of [...]
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Bear Stearns-JPMorgan hotel assets disclosed
(From HNN) The New York Federal Reserve on 31 March released a list of holdings, with principal balances, for its three Maiden Lane portfolios. The commercial loan portion in the first portfolio, Maiden Lane LLC, is composed of 81.3 percent hospitality-related assets and represents all assets of this type with the New York Fed, as of [...]
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San Fran – Huntington Hotel reportedly on the block
Another San Francisco landmark is up for sale.
Nob Hill’s famed Huntington Hotel is on the block, along with Carmel’s La Playa Hotel and Cottages-by-the-Sea, plus the ground lease at San Francisco’s Galleria Park Hotel.
The latest example of a distressed asset threatened with default or receivership, like the Four Seasons and the Stanford Court hotels? Apparently not.
I’m told by informed real estate [...]
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Armani Hotel Dubai is open
Mr Armani said: “My ambition for Armani Hotel Dubai – the first of a collection of Armani hotels, resorts and residences that will soon circle the world – is to celebrate comfort and style by providing the highest standards of design, hospitality and service.”
In a deal forged in 2004, Giorgio Armani S.p.A. and EMAAR Hotels [...]
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Hotel Industry Leading indicator shows growth in March
DURHAM, New Hampshire—The United States Hotel Industry Leading indicator, or HIL, went up 0.4 percent during March, the second monthly increase after a slight dip in January’s reading, according to economic research firm e-forecasting.com in conjunction with STR. The metric rose 0.5 percent in February.
HIL is a composite leading indicator for the U.S. hotel industry [...]
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BRICs take baby steps toward greater global clout
(Reuters) – The world’s leading emerging powers found little new to agree on in their summit in Brazil, but their assertive tone in demanding more clout in global financial institutions and setting of a deadline for the reforms shows they are slowly becoming a more potent group.
In a joint statement at the end of their [...]
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Real Estate Revitalization Act of 2010
Under the Real Estate Revitalization Act, the sale of property by a Real Estate Investment Trust (REIT) would no longer be treated as capital gains for a foreign investor but as ordinary dividends. Although those face a 30 percent dividend distribution tax, many countries have treaties with the United States that reduce or eliminate that [...]
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Cornell University to sponsor Industry Awards Dinner