Hotel
MGM Resorts Mulls $250M Bid for its 50 Percent Stake in N.J. Casino
With the closing of the disposition of four long-term ground leases and their accompanying real property parcels totaling 11.3 acres, MGM Resorts International has just completed its first move to extricate itself from The Borgata Hotel Casino & Spa as mandated by the New Jersey Division of Gaming Enforcement.
Hyatt, Extell Team to Bring Upscale Park Hyatt Brand to NYC
The Park Hyatt flag will soon fly high in the New York City sky for the first time.
Developer Lines Up Harrah’s to Replace Wynn on $400M Philly Casino Project
Philadelphia Entertainment and Development Partners’ plans for the construction of a new casino in Philadelphia are on the verge of clearing a major hurdle–financing.
The Hotel Experience
What do consumers look for in a hotel? Associate editor Joshua Pringle takes to the streets to find out.
Savills Advises Fortress, Northstar on $72M Mezzanine Loan Sale on Columbia Sussex Hotel Portfolio
The portfolio was sold to The Blackstone Group for an undisclosed price.
ULI Report: Bill Marriott’s Secrets to Success
The Marriott brand has survived and sometimes thrived since 1929. How has it persevered while so many others have gone by the wayside? J.W. Marriott Jr. offered insights during a keynote session at the Urban Land Institute Fall Meeting.
JLL Hotels Offers a Few Survival Tips for Hospitality Investors who Bought High
The real estate services firm, relying on its Strategic Advisory & Asset Management team, has just released a list of six recommendations to help the aforementioned segment of vulnerable hotel owners survive until the return of the glory days.
Returning Allure of Boston Hotel Market Leads to $143.5M Radisson Deal
Investors have been rather keen on the Boston hotel market of late, and the trend continues with Northwood Investors L.L.C.’s acquisition.
Carlyle’s $653M Purchase of France’s B&B Hotel Group a Done Deal
Over its 20 years in existence, B&B has built a 16,162-room portfolio of what the company describes as “high end” budget hotels designed to appeal to business and leisure travelers at locations in France, Germany and Italy.
Pebblebrook Reaches $369M in Investments with Purchase of Grand Hotel Minneapolis
Pebblebrook snapped up the Grand Hotel from iStar Financial Inc., which had taken possession of the downtown Minneapolis asset from The Wirth Cos. through a deed in lieu of foreclosure process.