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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: July 2010
Seville Hotel Miami to become Edition by Ian Schrager/Marriott
Ian Schrager, the celebrity hotelier who invigorated South Beach with his launch of the Delano hotel 15 years ago, is coming back to the beach. Through a partnership with Marriott, Schrager is set to turn the shuttered 12-story Seville Beach Hotel into a boutique property under the new Edition brand. The new [...]
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Ritz Carlton To Open Worlds Tallest Hotel In Hong Kong
If you build it, they will come. If you build it bigger and higher, they will pay to come.
Maybe the Ritz-Carlton saw the Armani Hotel Dubai in the Burj Khalifa–the current tallest building in the world–as a challenge. Or, maybe the hotel group just wanted to create some local competition with the Park Hyatt Shanghai [...]
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Colorado Hotel for Sale – 40K per room
The Owners are pleased to offer for sale the 43-unit Franchisable Hotel located in South Fork, Colorado (the “Property”). The Property address is 0182 E Frontage Rd, South Fork, Colorado 81154, located downtown, a quarter of a mile west of the intersection of Highway 149 and Highway 160. Highway 160 is the main east/west route [...]
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Jumeirah Group to manage VENU HIMALAYAS Hotel Shanghai
Jumeirah Group, the Dubai-based luxury hospitality company and member of Dubai Holding, has signed an agreement with Shanghai Zendai Himalayas Real Estate Co. Ltd to manage VENU HIMALAYAS Hotel Shanghai. The new contemporary lifestyle hotel in the heart of Pudong district of Shanghai is scheduled to open in 2011.
Guests of the first VENU property will [...]
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Gaylord RevPAR up despite shutdown of Opryland
NASHVILLE, Tenn. — Gaylord Entertainment Co. on Monday said its second-quarter revenue per available room rose, despite the shutdown of one of its four hotels because of flooding.
The Gaylord Opryland has been closed since the first week of May because of major flooding in Nashville. Through June 30, advance reservations for 273,151 room nights were [...]
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W ‘doing very well’ in Fort Lauderdale, South Beach
W Fort Lauderdale and W South Beach have weathered the storm that hit the tourism sector during their first year in business. Though they opened at a brutal time for the market – April 2009 for the 517-room W Fort Lauderdale and July for the 408-room W South Beach – their owners say the luxury properties [...]
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Noble Investment Group Acquires the Holiday Inn Charleston Historic District to be a Courtyard by Marriott
Noble Investment Group (“Noble”), today announced the acquisition of the award winning, 126-room Holiday Inn Charleston Historic District prominently located at the intersection of Calhoun and Meeting streets. Noble concurrently acquired an adjacent land parcel and has obtained entitlements to add 50 hotel guest rooms and 2,500 square feet of meeting space to the existing [...]
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Las Vegas’ Riviera Hotel & Casino into bankruptcy
Riviera Holdings Corp (RVHL.PK), owner of the Riviera Hotel & Casino on the Las Vegas Strip, has filed for bankruptcy protection under a pre-negotiated deal which will transfer ownership of the company to senior secured lenders. The proposed reorganization plan has the support of a majority of senior secured lenders, who hold claims under the [...]
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Historic Biltmore Hotel in Coral Gables is $2.3 million behind on its rent
The historic Biltmore Hotel in Coral Gables, Fla., is $2.3 million behind on its rent, but not likely to be closed, city officials said. ”It would be a disaster of great proportions,” said Coral Gables Mayor Don Slesnick, The Miami Herald reported Monday. The 84-year old hotel has been owned by the city and managed by Seaway [...]
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Technology Trends for the Global Hotel Industry
Here are some of the top hospitality technology developments across the globe:
1. Budget reductions
Less of a trend than an unfortunate reality, budget reductions are making it more and more difficult for IT professionals to do their jobs. For example, while working on a recent project in China, consultant Terence Ronson of Pertlink asked the [...]
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Super Bowl’s boost to Dallas-Fort Worth area hotels may fade fast
Early next year, an estimated 150,000 Super Bowl spenders will stream into North Texas looking for a place to bunk.
The Omni Dallas Convention Center Hotel is under construction in downtown Dallas – and still will be when the Super Bowl rolls into the area in February. Although the Omni hotels in Irving and Fort Worth [...]
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Crowne Plaza to be sold: A judge orders a foreclosure auction of the 462-room hotel
The downtown Crowne Plaza Hotel has entered foreclosure and will be sold at a sheriff’s auction in the near future. A judgment by Tulsa County District Judge Rebecca Nightingale found that the 462-room hotel’s owners, Ascension Hotels of Donaldsonville, La., failed to repay a $20.3 million loan plus $3.1 million in interest by the due [...]
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HEI buys Le Meridien out of foreclosure – 66K per key
HEI Hotels & Resorts of Connecticut has bought the 258-room Le Meridien Dallas North Hotel near the Galleria shopping mall. HEI gained title to the 9-year-old hotel at last week’s foreclosure auction. Earlier, the investor had bought the debt on the property at 13402 Noel Road. The Far North Dallas hotel acquisition is HEI’s fourth [...]
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Chicago – Westin to be sold for 51MM
The lender group on the Westin Chicago North Shore has filed to foreclose on the 412-room hotel in northwest suburban Wheeling, five months after the owner stopped making loan payments.
The Westin is straining under an $86-million loan taken out three years ago, when the hotel market was booming and lenders were still shoveling money out [...]
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Hyatt Regency to reopen New Orleans hotel
Hyatt Hotels Corp. said it is revamping and reopening its Hyatt Regency New Orleans in fall of 2011.
The operator said it will launch a multimillion redevelopment of the 1,193-room hotel located adjacent to the Louisiana Superdome.
The reopening is part of an economic development plan designed by the New Orleans Regional Planning Commission and New Orleans [...]
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Disaster #2: OIL SPILL
Oil from the BP spill has now washed ashore on the beaches of every Gulf Coast state. And as could be expected, beachfront hotels this summer have been quick to put forth promotions in an attempt to mitigate the damage.
Various hotels are now offering “no oil” deals that make promises such as free roomnights or [...]
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Disaster #1: ASH CLOUD ON HOTELS
LONDON –The lingering memory for travellers caught up in the airport closures earlier this spring because of the eruption of the Icelandic volcano, Eyjafjallajokull, will be of days wasted at airports or meetings and holidays cancelled. For hoteliers in London and the city’s two major airports, Heathrow and Gatwick, the closures had no significant effect [...]
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IHG sells InterContinental Buckhead Atlanta: $265K Per Key
InterContinental Hotels Group announces the sale of the 422 room InterContinental Buckhead Atlanta to Maryland based Pebblebrook Hotel Trust (“Pebblebrook”) for US$105 million in cash. IHG will continue to manage the hotel under a long term management contract.
IHG opened the hotel in November 2004 as the first newly built luxury hotel to enter the Buckhead [...]
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STR Global presentation: Back On Track
KEY TOPICS IN STR PRESENTATION:
Demand is back
Occupancies are up
Supply growth rates are slowing
Rate growth beginning to turn positive
Still at 2006/2007 RevPARlevels
2010 year of recovery
Full recovery likely to take a few years
Healthy occupancies (top tier at 77%)
Overall performance to improve strongly
We are Back on Track!
CLICK HERE FOR FULL STR PRESENTATION…
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The RevPAR Recovery Race