Hotel
Strategic Hotels & Resorts Urged to Sell its Hotel Portfolio
Orange Capital, a New York-based investment firm, has urged Strategic Hotels & Resorts to sell its entire portfolio of high-end hotels and return the proceeds to shareholders.
West End Summit Adds InterContinental Hotel in Nashville
Alex. S. Palmer & Co. and Concord Hospitality have signed a letter of intent for the development of an InterContinental Hotel in Nashville, as part of Palmer’s West End Summit.
Stockbridge, SBE, Daniels JV to Develop $400M SLS Hotel Seattle
One day after announcing it was breaking ground on SLS Las Vegas, hospitality developer SBE Entertainment Group said it was bringing the SLS hotel brand to downtown Seattle, where it will team with Stockbridge Capital Group and Daniels Real Estate to put a 184-room luxury hotel in Daniels’ planned $400 million M-U tower.
Marriott to Build Courtyard Hotel in Lima
Marriott International is set to expand its operations in the South American state of Peru with a brand new Courtyard by Marriott Hotel location in Lima, the country’s third largest city.
Hotel’s Conversion from Sahara to SLS Las Vegas Finally Starts
Las Vegas’ Sahara Hotel & Casino, which closed in 2011 after decades as a Sin City icon, is finally beginning its transformation into the SLS Las Vegas.
Loews Buys Boston’s 225-Room Back Bay Hotel for $84M
Continuing its mission to expand its presence in gateway cities and leading resort markets over the next five years, Loews Hotels & Resorts has acquired The Back Bay Hotel, an iconic 225-room lodging property in Boston.
Hyatt to Take Over as Operator for L.A. Hotel Downtown as Hospitality Giant Continues L.A. Push
L.A. Hotel Downtown is a 491-key hospitality property in the central part of Los Angeles, and the move by Hyatt to take over as operator of the facility is part of a more aggressive stance the hotel operator has been enforcing in the greater Los Angeles area. It was recently revealed that Hyatt would be the new operator of the Century Plaza Hotel in Century City, another major hotel renovation project, covered here. Continue reading →
SPECIAL REPORT: MBA Predicts M-F Funding Market Share May Fall Slightly in 2013
Mortgage originations for commercial properties will increase by 11 percent in 2013, the Mortgage Bankers Association (MBA) forecasted. Multifamily financing may tick down this year as capital supply to the other commercial real estate sectors make a comeback.
SPECIAL REPORT: Liquidity Returns to Commercial Real Estate
The commercial real estate financing industry cautiously greeted the rapid return of liquidity into the sector during the Mortgage Bankers Association’s 2013 Commercial Real Estate Finance/Multifamily Housing Convention & Expo.
Starwood Capital’s Group Du Louvre Sells Four Leading Hotels in France
Starwood Capital Group’s Groupe Du Louvre has sold four premier luxury hotels in France as part of the company’s ongoing plan to monetize the GDL hotel portfolio.