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Manchester Arts District »NEW 2010 - Active
Daniell Development To Take On Largest Penthouse Project »July 2009 - Closed
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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.
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Category Archives: Market News
California Hotel Foreclosure Activity Stacks Up
Atlas Hospitality Group reports that 529 California hotels were in default or had been foreclosed by the end of the third quarter – a nearly 11% increase from the second quarter of the year and a 71.2% increase over the same quarter last year. The number of foreclosed hotels grew from 100 in the second [...]
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Google Maps Tests Integrated Hotel Price Listings
CLICK HERE TO CHECK IT OUT! ED NOTE: pretty neat functionality. Google also just bought a reservations systems. JLD……
If you’ve ever tried using the web to book a vacation, there’s a good chance you found yourself juggling a half-dozen tabs at once: a couple for hotel review sites, a booking engine or two, and, finally, [...]
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Small Business Bill: Hotel View – CK Patel
“Passing the Small Business Jobs Act is a major first step for the federal government to provide assistance to hoteliers and small business owners who need financing in order to operate their businesses and keep their doors open,” said ChandraKant “C.K.” Patel, chairman of the Asian American Hotel Owners Association, a 10,000 member strong trade [...]
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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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Hotel Loans: Must Sell
FDIC Auction Involving Georgia Bank Watched for Clarity on Market Prices
All eyes in the hotel investment world are on an ongoing auction by the Federal Deposit Insurance Corp. of hotel loans from a failed Georgia bank to see if the results will influence hotel values and pricing.
The FDIC last week accepted sealed bids on a [...]
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Fitch: Commercial mortgage defaults to keep rising
NEW YORK — Defaults on the loans behind U.S. commercial mortgage backed securities will continue to rise through the year, Fitch Ratings said Wednesday. The agency expects the overall rate of default for deals it has rated to exceed 11 percent by year-end.
“The aggressive underwriting and higher leverage in the 2007 vintage is leading to [...]
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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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FDIC might help banks bid on loans
A plan is in the works that could potentially lessen the blow to some community banks from continued fallout from Georgia’s biggest bank failure.
Federal regulators are offering a seat at the table for small community banks to bid on part of a $400 million loan portfolio originated by a unit of the failed Silverton Bank, sources [...]
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CMBS Delinquencies Propelled by Five-Year Loans
Current delinquency rates by property type are as follows:
Office – 3.5 percent
Industrial – 4.16 percent
Retail – 5.09 percent
Multifamily – 8.97 percent
Hotel – 16.61 percent
The 29 basis-point (bp) increase in delinquencies to 6.26 percent at the end of February was driven in large part by upcoming maturities from U.S. commercial mortgage-backed securities (CMBS) deals originated in [...]
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Fitch: Commercial mortgage defaults to keep rising
NEW YORK – Defaults on the loans behind U.S. commercial mortgage backed securities will continue to rise through the year,Fitch Ratings said Wednesday.
The agency expects the overall rate of default for deals it has rated to exceed 11 percent by year-end.
That spike would follow a more than fivefold increase in loan defaults last year, to 1,464 loans totaling [...]
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January CMBS Delinquencies Hit Record At $46 Billion, 5.8% Of Total, A 10.3% Increase Sequantially And A 325% Increase Year Over Year
On one hand you have Moody’s REAL CPPI index telling you commercial real estate prices not only bottomed in December, but are now increasingat the fastest rate in years. On the other hand you have reality staring you in the face (that is if you are reading the February RealPoint CMBS report), in the form of $46 [...]
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US hotel loan default rate may double by 2012-Fitch
Hotel defaults could reach 25 pct to 30 pct by 2012
Defaults to be most pronounced in 2011, 2012
Low supply rate a boon to hotel recovery- analyst
NEW YORK (Reuters) – Hotel loan defaults could double in the United States, reaching 30 percent, by 2012 as the lodging industry struggles with a drop in cash flows and [...]
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STR Reports US Performance for Week Ending 10 April 2010
The U.S. hotel industry reported mixed results in the three key performance measurements during the week of 4-10 April 2010, according to data from STR.
In year-over-year measurements, the industry’s occupancy increased 12.6 percent increase to 59.2 percent. Average daily rate ended the week virtually flat with a 0.4-percent decrease to US$96.31. Revenue per available room [...]
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Schwartz Quote from Interview: First Hospitality Group
Schwartz: “I’m actually very optimistic for 2010. I looked at our numbers for February and March. March we’re projecting about a 4-5 percent decrease year over year in GOP. February was 10 percent. But the trend line is decidedly positive. I think at the end of the first quarter, at least as of the end [...]
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California Hotel Foreclosures Rise 27 Percent in Q1 2010
(Bloomberg) — Hotel foreclosures in California climbed 27 percent in the first quarter as unemployment cut business travel.
Foreclosures rose to 79 properties from 62 as of year-end, Atlas Hospitality Group said in a statement. Defaults increased 6.5 percent to 327. The Irvine, California-based company specializes in selling hotels.
The U.S. lodging business is struggling with declining [...]
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Moody’s/REAL CPPI
Commercial Property Price Indices
In conjunction with MIT Center for Real Estate and Real Estate Analytics, LLC, Real Capital Analytics has launched a set of pioneering indices for tracking commercial investment property prices in the US. The CPPI indices published by Moody’s are based on actual transactions of commercial real estate compiled by Real Capital Analytics.
The Moody’s/REAL Commercial Property Price [...]
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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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REIT: Another four-letter word or a golden opportunity?