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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.
Category Archives: Hotels
Dallas-Fort Worth hotel foreclosure filings more than triple
Business and tourist travel is picking up, but the number of Dallas-Fort Worth hotels facing foreclosure this year has more than tripled. So far in 2010, 94 North Texas hotel foreclosure filings have been recorded. There were 30 filings for the same period in 2009, according to Foreclosure Listing Service Inc. ”Among D-FW hotels, the [...]
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Moscow Has Most Expensive Hotel Rates in World, Report Shows
Moscow retained its ranking as the city with the most expensive average hotel room rate in the world, a survey by business travel agency Hogg Robinson Group Plc showed. The average rate in the city in the first half was 256.83 pounds ($407), Hogg Robinson said in a report on its website today. Geneva followed as the [...]
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Three Atlanta hotels to close; Marriott Renaissance among them
Three Atlanta hotels – including the 502-room, upscale Marriott Renaissance hotel on the edge of the city’s downtown business district – are slated to close this year amid a hotel glut that’s been driving down rates. The closures come at a time when Atlanta hotels are struggling to fill beds and keep rates from sinking. [...]
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Armani Debuts in Dubai
Giorgio Armani has opened his first hotel in Dubai, extending his already large fashion and accessories empire into the travel industry.
Opened yesterday in the Burj Khalifa, the world’s tallest building, the 160-room hotel Armani Hotel Dubai occupies the first eight floors, with the largest suites perched on levels 38 and 39. In keeping with the designer’s [...]
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Orlando Florida – Foreclosed Comfort Inn Purchased
The Mumford Company was pleased to represent Kerry Ranson, as Receiver, in the sale of the former Comfort Inn North of Orlando, Florida to Josef’s Hospitality, LLC. The five story interior corridor hotel, closed at the time of sale, is strategically located off of Interstate 4 at the Lee Road Exit, just minutes from downtown [...]
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106 Bay Area hotels in default
More than 100 hotels in the Bay Area are now suffering from problem mortgages, according to a new report that sketches ongoing woes for the lodging industry.
During the first quarter of 2010, an estimated 106 Bay Area hotels were either in foreclosure or default on their mortgages in the first quarter, Atlas Hospitality Group reported.
That [...]
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Puttin’ (the Pinch) on the Ritz
Bank of America has filed a notice of default against the Ritz-Carlton Highlands Lake Tahoe, a luxury resort that opened just four months ago.
The notice of default, filed at the end of March, claims the Highlands Hotel Co. LLC is $18.6 million in default on the hotel and a neighboring parcel. The default involves two loans [...]
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$7.5 million Broadmoor project in Colorado Springs under way
During a time when many hotels have put renovation plans on hold, a $7.5 million room and meeting facility project is under way at The Broadmoor. The renovation project centers around Broadmoor West and the West Tower.
“The rooms were actually in excellent shape, but the new décor, the furniture, carpet, drapes and other improvements are absolutely beautiful,” he [...]
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Lavish hotels out of vogue: Marriott
(Reuters) – Luxury hotels with $1,000-a-night room rates and extravagant Caribbean resorts may face a tougher recovery than the rest of the industry, Marriott International Inc (MAR.N) executives said on Wednesday.
“The most over-the-top excesses will probably be a long time — if ever– coming back,” Marriott President Arne Sorenson told the Reuters Travel and Leisure Summit.
He [...]
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Carlson says hotel rates to recover
(Reuters) – Hotel room rates may jump back to pre-crisis levels sometime during 2012 to 2013 as companies start to ramp up their travel budgets, the head of private travel and hospitality company Carlson said on Tuesday.
“Fundamentally, in order to grow businesses you need to travel, you need face-to-face contact,” Carlson Chief Executive Hubert Joly [...]
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US$1b Q1 Transactions By JLLH In Americas
Jones Lang LaSalle Hotels announces that US$1 billion in hotel real estate has transacted in the Americas region during first quarter 2010, representing 29% of the firm’s full year forecast of US$3.5 billion. The volume of U.S. hotel transactions declined to a decade-low of US$2.2 billion in 2009, down from the already greatly decreased US$9.7 [...]
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Beware: The Pending PIP Monster
Most brands have been forgiving in terms of property-improvement plans, and the expectation is that it will continue through this year, but that only delays the inevitable monster waiting on the sidelines. As time passes, more renovation will be required because almost all available cash these days is being used to cover debt and meet [...]
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Marriott plan dead, Hyatt plan on hold
One of two hotel projects targeted for Mannheim Road near I-90 in Des Plaines is dead, while the other is on life support after a city committee this week recommended giving the developer more time to secure funding.
Oak Brook-based investor and developer The Harp Group Inc. has backed out of building two Marriott hotels on roughly four acres north of [...]
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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 [...]
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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 [...]
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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 [...]
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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 [...]
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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 [...]
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Hotel values across Europe have fallen by +/-25%
HVS’s London office has today released the latest edition of its annual review of European hotel value trends, the Hotel Valuation Index (HVI). The European HVI has tracked trends in upscale hotel values in 36 key European markets since 1993.
This current survey shows that on average hotel values across Europe, measured in euro, showed a [...]
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Condo sale caps downtown LA complex’s final stage