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Wyndham Hotel Group To Open Nine Hotels In Japan PARSIPPANY, NJ— Wyndham Hotel Group plans to open nine hotels in Japan during the next five years under the Ramada and Days Inn brands as the result of a non-exclusive agreement with Green Hospitality Management Co. Ltd. Continued... Posted Today - 10:16:32 AM |
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Hotel Loans Exhibit Sharpest Year-To-Date Decline WASHINGTON—Commercial real estate loan originations continue to tumble in the wake of the credit crunch with the hotel sector leading the way, according to the Mortgage Bankers Association’s Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations. Continued... Posted Today - 9:50:42 AM |
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Hempel Properties Selling Minneapolis Doubletree MINNEAPOLIS—Following a $60.5-million redevelopment and opening of the Hotel Minneapolis, a Doubletree Hotel here, Hempel Properties is now looking to sell the 222-room property. Continued... Posted Today - 9:37:55 AM |
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Surftides Reveals Boutique Makeover LINCOLN CITY, OR— Surftides, a historic hotel here, has completed the first phase of a renovation that is transforming the property into a boutique hotel. Continued... Posted Today - 9:05:53 AM |
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Embassy Suites Pipeline Passes 60-Property Mark MEMPHIS, TN—With 192 hotels already open, Embassy Suites has 62 franchise properties scheduled to open in the next three years. Continued... Posted 8/19/2008 - 10:31:10 AM |
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HB ON THE SCENE:
At Annual Conference, NABHOOD Remains Bullish On Lodging Opportunities ATLANTA—While talk of recession blows across the lodging landscape, the mood remains positive and the attitude is one of can-do by the members of The National Association of Black Hotel Owners, Operators and Developers, Inc. (NABHOOD), who are holding their 12th annual International Multicultural Tourism/Hotel Ownership Summit and Trade Show here at the Atlanta Marriott Century Center. Continued... Posted 7/18/2008 - 7:28:45 AM |
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IHG's Steve Porter Dies NEW YORK—Stevan Porter, who had served as president, the Americas, for InterContinental Hotels Group, has died. He was 53. Continued... Posted 8/8/2008 - 1:20:02 PM |
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IHG's 'Critically Ill' Stevan Porter Relinquishes Position NEW YORK—HOTEL BUSINESS® has learned that Stevan Porter, who serves as president, the Americas, for InterContinental Hotels Group, has been reported as critically ill following several weeks of hospitalization, with a condition described as deteriorating. Continued... Posted 7/14/2008 - 10:35:55 AM |
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Condo Hotel Market Fallout Seen In $24.8M Sale Of Miami Asset MIAMI BEACH, FL— In what could be construed as fallout from the great condo hotel overbuilding and market collapse that occurred during the past few years, the Breakwater Edison condo hotel here, which was once destined to become one of Nicky Hilton’s Nicky O-branded hotels, has been sold by the property lender, Oaktree Capital, for $24.8 million. Continued... Posted 6/10/2008 - 10:30:55 AM |
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St. Regis Fort Lauderdale Up For Sale TAMPA, FL— The 197-key St. Regis Resort, Fort Lauderdale, which opened in May of 2007 and includes condo hotel units, has been put on the sales block. The Plasencia Group is handling the disposition. Castillo Grand, LLC developed the resort for an estimated $135 million. Continued... Posted 4/29/2008 - 10:21:37 AM |
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Starwood Appoints New Global Development President WHITE PLAINS, NY— Simon Turner has been appointed as the new president of global development for Starwood Hotels & Resorts Worldwide, Inc. Continued... Posted 4/22/2008 - 11:11:01 AM |
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Hilton Executive Changes Also Involve Carter, Keltner, Wang and Harvey BEVERLY HILLS, CA— In conjunction with its appointment of ex-Sunstone Hotel Investors President and CEO Steven Goldman as its new president of global development and real estate, Hilton Hotels Corp. has also promoted three other executives. Continued... Posted 3/7/2008 - 9:54:21 AM |
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HB ON THE SCENE: Investors, Lenders Analyze Credit Crunch At 2008 Meet The Money HENDERSON, NV— The affects of the credit crunch and the cyclical hotel industry downturn have been discussed across the lodging industry ad infinitum for the past few months, with doom and gloom scenarios the subsequent by product. Today, at the 18th annual Meet The Money conference here, it seemed as if the hotel investment and lending community finally came to grips with these facts and, more importantly, made the first proactive steps toward actually figuring out how to handle it all. Continued... Posted 5/8/2008 - 12:45:24 AM |
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Watermark, W.P. Carey Venture Seeks REIT Status NEW YORK—According to filings with the United States Securities and Exchange Commission, a newly formed venture between W.P. Carey and Watermark Capital Partners—Carey Watermark Investors Inc.—is seeking real estate investment trust (REIT) status in order to acquire, own and dispose of lodging and lodging-related properties. Continued... Posted 4/11/2008 - 5:02:10 PM |
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Sheraton To Open Another 54 Properties By 2009 WHITE PLAINS, NY— As part of Sheraton Hotels & Resorts’ expansion and brand revitalization initiative, the brand is now poised to open 54 hotels with 20,000 rooms by 2009. Furthermore, such an expansion will involve $2 billion worth of new hotel openings in North America moving forward. Continued... Posted 4/8/2008 - 9:49:45 AM |
- Featured News & Columns
Jay Schultz, sr. vp hospitality group, Hotel Business  Globalization Continues To Impact Hotel Industry As New Players Emerge In his book “The World Is Flat: a Brief History of the 21st Century,” Thomas L. Friedman suggests the world is flat in the sense that globalization has leveled the competitive playing fields between industrial and emerging countries. Globalization is nothing new to the hotel industry. During the last decade or so a week has not passed without a hotel company announcing some sort of development deal somewhere outside the U.S Continued... |