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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.
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WHITE PLAINS, NY— Simon Turner has been appointed as the new president of global development for Starwood Hotels & Resorts Worldwide, Inc.
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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.
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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.
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Jim Butler, JMBM
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.
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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.
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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.
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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.
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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.
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Goldman Steps Down As Sunstone CEO To Take Top Hilton Development Job
SAN CLEMENTE, CA— Steven Goldman, president and CEO of Sunstone Hotel Investors, has resigned to become president of Hilton Hotels Corp's global real estate and development group.
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SAN CLEMENTE, CA— Steven Goldman, president and CEO of Sunstone Hotel Investors, has resigned to become president of Hilton Hotels Corp's global real estate and development group.
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AH&LA Uncovers Hotel Industry’s Top Green Trends, Challenges
WASHINGTON— Through its Green Assessment Survey, the American Hotel & Lodging Association has unveiled the top 10 environmentally sustainable initiatives hotels are currently deploying along with the top 10 green programs hotels can improve upon.
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WASHINGTON— Through its Green Assessment Survey, the American Hotel & Lodging Association has unveiled the top 10 environmentally sustainable initiatives hotels are currently deploying along with the top 10 green programs hotels can improve upon.
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Starwood's Klein, Lalvani Join Hilton Hotels
BEVERLY HILLS, CA- In an effort to further develop its presence in the luxury and lifestyle sectors, Hilton Hotels Corporation has added Ross Klein and Amar Lalvani to its executive team.
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BEVERLY HILLS, CA- In an effort to further develop its presence in the luxury and lifestyle sectors, Hilton Hotels Corporation has added Ross Klein and Amar Lalvani to its executive team.
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Davidson Enters Joint Venture To Acquire Tampa Airport Sheraton
TAMPA— Square Mile Capital Management LLC and Davidson Hotel Company have formed a joint venture to acquire the Sheraton Suites Tampa Airport/Westshore in Florida.
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TAMPA— Square Mile Capital Management LLC and Davidson Hotel Company have formed a joint venture to acquire the Sheraton Suites Tampa Airport/Westshore in Florida.
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Storey Named President Of Fairmont Hotels
TORONTO—Fairmont Raffles Hotels International has appointed Thomas Storey president of Fairmont Hotels and Resorts, effective May 1. Storey will succeed Chris Cahill.
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TORONTO—Fairmont Raffles Hotels International has appointed Thomas Storey president of Fairmont Hotels and Resorts, effective May 1. Storey will succeed Chris Cahill.
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Jones Lang LaSalle Hotels Forecasts $20B Drop In ’08 Deal Volume
CHICAGO— Following the record-shattering hotel transaction volume total of $45 billion in 2007, Jones Lang LaSalle Hotels is forecasting in its latest investment report that 2008’s volume will fall considerably and land between $23 billion and $26 billion.
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CHICAGO— Following the record-shattering hotel transaction volume total of $45 billion in 2007, Jones Lang LaSalle Hotels is forecasting in its latest investment report that 2008’s volume will fall considerably and land between $23 billion and $26 billion.
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HB ON THE SCENE: Top CEO's Check-In With Plenty Of Perspective
NEW YORK- Three of the indsutry's most high-profile and well-known CEO's were brought together for the opening session at the NYU Industry Investment Conference and the discussion included everything from sucession plans to eco-friendly brands to long-term investment strategies.
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NEW YORK- Three of the indsutry's most high-profile and well-known CEO's were brought together for the opening session at the NYU Industry Investment Conference and the discussion included everything from sucession plans to eco-friendly brands to long-term investment strategies.
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Sheraton’s Revitalization Reaches Higher Level With New Guestroom, Lobby Concepts
WHITE PLAINS, NY— Following its first unveiling of plans to reposition and revitalize the Sheraton Hotels & Resorts brand in June 2007, Starwood Hotels & Resorts Worldwide, Inc. has now followed that up with more concrete brand-wide measures, including plans for $1.3 billion in renovations, $400 million in key brand initiatives and $2 billion in new Sheraton openings.
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WHITE PLAINS, NY— Following its first unveiling of plans to reposition and revitalize the Sheraton Hotels & Resorts brand in June 2007, Starwood Hotels & Resorts Worldwide, Inc. has now followed that up with more concrete brand-wide measures, including plans for $1.3 billion in renovations, $400 million in key brand initiatives and $2 billion in new Sheraton openings.
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Starwood To Position Element As LEED-Certified Brand
WHITE PLAINS, NY— Starwood Hotels & Resorts’ newest brand, Element, will now mandate LEED-certification in all of its hotels. The first Element is scheduled to debut this summer and 20 are set to open by the end of 2009.
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WHITE PLAINS, NY— Starwood Hotels & Resorts’ newest brand, Element, will now mandate LEED-certification in all of its hotels. The first Element is scheduled to debut this summer and 20 are set to open by the end of 2009.
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McSam Group Buys Lower Manhattan Site For $56M
NEW YORK—McSam Hotel Group, LLC, led by Sam Chang, has acquired a Lower Manhattan development site—6 Water Street (aka 32-38 Pearl St.)—for $56 million, with plans to build a hotel tower.
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NEW YORK—McSam Hotel Group, LLC, led by Sam Chang, has acquired a Lower Manhattan development site—6 Water Street (aka 32-38 Pearl St.)—for $56 million, with plans to build a hotel tower.
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Nakheel Hotels Acquires 50% Interest In Miami Fontainebleau
MIAMI—Nakheel Hotels, a division of Dubai-based property developer Nakheel, best known for developing The Palm islands and The World, has invested $375 million in exchange for a 50% interest in Fontainebleau Resorts, LLC's iconic Fontainebleau Miami Beach resort.
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MIAMI—Nakheel Hotels, a division of Dubai-based property developer Nakheel, best known for developing The Palm islands and The World, has invested $375 million in exchange for a 50% interest in Fontainebleau Resorts, LLC's iconic Fontainebleau Miami Beach resort.
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HB ON THE SCENE:
Wyndham To Acquire Microtel, Hawthorn
NEW YORK— Wyndham Worldwide Corp. last night took advantage of the sweeping panoramic view from atop the Top of the Rock here to let the world know it would be acquiring US Franchise Systems, Inc. and its Hawthorn Suites and Microtel Inns and Suites brands from Chicago-based Global Hyatt Corp.
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NEW YORK— Wyndham Worldwide Corp. last night took advantage of the sweeping panoramic view from atop the Top of the Rock here to let the world know it would be acquiring US Franchise Systems, Inc. and its Hawthorn Suites and Microtel Inns and Suites brands from Chicago-based Global Hyatt Corp.
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Unit-Level Hotel Profits Grew 7.2% in '07; Slowdown Ahead: PKF Report
ATLANTA—PKF Hospitality Research has found the average hotel enjoyed a 7.2% gain in net operating income in 2007, more than twice the pace of inflation for the year, but the single-digit gain was the lowest year-over-year increase since 2004.
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ATLANTA—PKF Hospitality Research has found the average hotel enjoyed a 7.2% gain in net operating income in 2007, more than twice the pace of inflation for the year, but the single-digit gain was the lowest year-over-year increase since 2004.
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Kronos Set To Build Crowne Plaza In Buckhead
ATLANTA— A 17-story, 238-room Crowne Plaza will now be built within Atlanta’s Buckhead neighborhood. Kronos Hotels, LLC is the developer and owner of the project, which will cost an estimated $75 million.
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ATLANTA— A 17-story, 238-room Crowne Plaza will now be built within Atlanta’s Buckhead neighborhood. Kronos Hotels, LLC is the developer and owner of the project, which will cost an estimated $75 million.
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La Quinta Recognized By Hotel Business As Top Growing Brand
EAST SETAUKET, NY— La Quinta has been recognized by HOTEL BUSINESS® as the fastest growing brand in the hotel industry, according to the publication's recent Top Hotels Brands Report
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EAST SETAUKET, NY— La Quinta has been recognized by HOTEL BUSINESS® as the fastest growing brand in the hotel industry, according to the publication's recent Top Hotels Brands Report
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Element Hotel Slated For VA
VIENNA, VA— A new Element Hotel will debut here in September 2010.
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VIENNA, VA— A new Element Hotel will debut here in September 2010.
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Hilton Maps Sustainability Plans
BEVERLY HILLS, CA— Hilton Hotels Corp. has charted several short- and long-term goals toward building sustainability into its businesses worldwide over the next five years.
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BEVERLY HILLS, CA— Hilton Hotels Corp. has charted several short- and long-term goals toward building sustainability into its businesses worldwide over the next five years.
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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.
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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.
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Driftwood To Convert FL Ramada To Indigo
DADELAND, FL— Driftwood Hospitality is investing $3.75 million to convert a Ramada Limited here to a Hotel Indigo.
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DADELAND, FL— Driftwood Hospitality is investing $3.75 million to convert a Ramada Limited here to a Hotel Indigo.
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Avenue Hotel To Open In Chicago
CHICAGO—A new hotel, The Avenue, is slated to open here in May on the city's Magnificent Mile.
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CHICAGO—A new hotel, The Avenue, is slated to open here in May on the city's Magnificent Mile.
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The Dorchester Collection Expands
LONDON—The board of directors of Dorchester Services Ltd. intends to establish an international management company and embark on a program of expansion under the banner of The Dorchester Collection.
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LONDON—The board of directors of Dorchester Services Ltd. intends to establish an international management company and embark on a program of expansion under the banner of The Dorchester Collection.
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Macfarlan Capital Buys Five Assets For Its New TerraMesa Resorts Brand
DALLAS— Five resort and second home communities across three states have been acquired by Macfarlan Capital Partners, LP, a Dallas-based private real estate investment firm, which will place these properties in its new TerraMesa Resorts brand.
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DALLAS— Five resort and second home communities across three states have been acquired by Macfarlan Capital Partners, LP, a Dallas-based private real estate investment firm, which will place these properties in its new TerraMesa Resorts brand.
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Chinese-Themed Condo Hotel Set To Rise In Chicago
CHICAGO— First Hospitality Group has been appointed as the operator of the future Grand Imperial Hotel, which is expected to open in Chicago’s Chinatown district in 2010. The ground breaking for the project is scheduled for this summer.
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CHICAGO— First Hospitality Group has been appointed as the operator of the future Grand Imperial Hotel, which is expected to open in Chicago’s Chinatown district in 2010. The ground breaking for the project is scheduled for this summer.
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Motel 6 Debuts First New Prototype In 12 Years
DALLAS—Accor North America, the parent company of Motel 6, today unveiled the Motel 6 Phoenix, the first new prototype for the brand in 12 years.
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DALLAS—Accor North America, the parent company of Motel 6, today unveiled the Motel 6 Phoenix, the first new prototype for the brand in 12 years.
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HB ON THE SCENE: NYU Celebrates 30 Years With Record Attendance
NEW YORK- Any thoughts that attendance was going to be curtailed this year at the annual NYU Industry Investment Conference as a result of a weakening economy were put to rest as the event got started today with some 2,400 delegates on hand.
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NEW YORK- Any thoughts that attendance was going to be curtailed this year at the annual NYU Industry Investment Conference as a result of a weakening economy were put to rest as the event got started today with some 2,400 delegates on hand.
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