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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: September 2010
Hotel economic indicator weakens
The U.S. Hotel Industry Leading Indicator, or HIL for short, is a monthly leading indicator that provides useful information about the future direction of the U.S. hotel industry. Building off the tracking success of HIP, the real-time indicator for the U.S. hotel industry, HIL was built as a composite indicator that uses nine different components [...]
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Wyndham to franchise Planet Hollywood Hotels
Wyndham Hotel Group, part of the Wyndham Worldwide family of companies (NYSE: WYN) and the world’s largest hotel company with nearly 7,200 hotels, today announced a license agreement with Planet Hollywood Resorts International, LLC to franchise the Planet Hollywood Hotels® brand and provide management services globally. The Planet Hollywood brand was founded in 1989 by [...]
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DiamondRock picks up hotel in Manhattan, N.Y.
The company acquired the 169-room Hilton Garden Inn Chelsea New York City. DiamondRock Hospitality Co. said Sept. 13 that it acquired the 169-room Hilton Garden Inn Chelsea New York City in Manhattan, N.Y., for $68.4 million. The purchase price represents a 12.9x 2010 EBITDA and a 7% capitalization rate on 2010 NOI. The company funded [...]
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Apple REIT Nine closes on acquisition of 3 Hampton Inn hotels
The company paid $42.7 million for the hotels containing 434 rooms. Apple REIT Nine Inc. on Aug. 31, through one of its indirect wholly owned subsidiaries, closed on the purchase of three Hampton Inn hotels for a total purchase price of about $42.7 million. According to a Form 8-K filed Sept. 3, the company paid [...]
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3 more bank failures in state; bad real estate loans to blame; 44 institutions succumb in two years
Three more Georgia banks failed Friday, pushing the state’s nation-leading number of failures to 44 over the past two years. One was led by a chief executive who was also the one-time chairman and interim CEO of a bank that failed last year. Another had U.S. Rep. Phil Gingrey, R-Marietta, as a founding investor and [...]
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Virgin Is Getting into the Hotel Business
PHOENIX-Virgin Group is getting into hotels. The multinational company is diving into the hotel market, planning to put out 25 branded hotels over the next seven years. Virgin Hotels will be a “four-star lifestyle hotel brand,” according to the company, and will launch first into gateway markets with the first property opening within the next [...]
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Red Roof’s Problems Roost In Bay State
Three local properties — in Woburn, Mansfield and Southborough — have been lumped into the foreclosure proceedings plaguing the Ohio-based Red Roof Inn hotel chain. Recent filings by C-III Capital Partners, the special servicer assigned to the $255 million loan backing the Red Roof Inn portfolio in question, indicate that the value of those properties [...]
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Bankruptcy filing aims to stall Pittsburgh Hilton Hotel foreclosure
1The owner of the former Pittsburgh Hilton Hotel filed for bankruptcy protection Tuesday in a move to slow foreclosure proceedings by the hotel’s mortgage holder. Shubh Hotels Pittsburgh LLC of Boca Raton, Fla., is seeking a Chapter 11 reorganization and restructuring in U.S. Bankruptcy Court in Pittsburgh. The company listed between $10 million and $50 [...]
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W Boston faces foreclosure
Prudential Insurance Co. is pushing to foreclose on the bankrupt W Boston Hotel and Residences, putting more than $10 million in city loan funds at risk if high-end condos at the swanky complex in the Theater District are sold off at bargain-basement prices. Prudential, which originally sunk $192 million in the W Boston, openly mocked [...]
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easyHotel is first gold-LEED super budget hotel, Dubai
easyHotel Jebel Ali, the super budget brand hotel chain`s first venture outside Europe, on Monday (September 6) welcomed its first guests, many of them taking advantage of the offer of attractive budget price of AED 99 per night for a double-room. easyHotel Jebel Ali is part of the super budget hotel brand founded and owned [...]
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Phoenix: Point Hilton up for sale
The Pointe Hilton Tapatio Cliffs Resort and its adjacent golf club are scheduled to be sold to the highest bidder at a foreclosure auction in November. The 584-suite resort and its golf club, the Pointe Golf Club on Lookout Mountain, received a notice of trustee’s sale from lender Bank of America on Aug. 23. [...]
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LaSalle buys 3 hotels
LaSalle Hotel Properties has acquired three hotels in San Francisco and Philadelphia through three separate transactions. The company purchased the Hotel Monaco San Francisco for $68.5 million, the Westin Philadelphia for $145.0 million and the Embassy Suites Philadelphia – Center City for $79.0 million. Additionally, the company sold the Seaview Resort in Absecon, N.J., for [...]
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Top 25 Hotel RevPAR Rebound
BOULDER, Colorado—The results are getting even more interesting in the July edition of the RevPAR Recovery Race series, where New Orleans continued its winning streak as Top 26 market leader—a title it’s held since April 2010. However, this time we’ll take a deeper look at the numbers and examine the past four months of the [...]
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Accor eyes 2010 core profit rise, shares up
French hotel group Accor (ACCP.PA) tapped into recovering global demand for rooms and business travel with a doubling of core profit in the first half and forecast significant earnings growth for the full year. Although the economic climate was uncertain, the world’s fourth-largest hotel chain forecast earnings before interest and taxes (EBIT) would rise [...]
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Dubai luxury hotel frees captive whale shark
Sammy, as the whale shark was dubbed, which had been held in captivity in the Atlantis, Palm Jumeirah aquarium for the past eighteen month, is freed. The release comes almost a year after a popular Gulf News led campaign had thousands of Dubai residents calling for the hotel to release Sammy. The female [...]
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Hunter Realty Opens Miami Office in Hotel Play
Atlanta-based hotel investment advisory services firm Hunter Realty has set up shop in Miami. Stephen Taylor, the firm’s newly-minted vice president, will lead the Miami office into opportunities in Florida and the Caribbean. “We believe Florida and especially Miami, Orlando and Tampa will be hotbeds of activity over the next 24 to 36 months as [...]
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Omni Hotels & Resorts to Launch Mokara Brand