The Miami Herald
The long overdue development of Watson Island, stalled for a dozen years by the Sept. 11 terrorist attacks and a collapsed economy, may have received a huge jolt when New York’s Related Companies agreed to study the plan and possibly join forces in its development.
Five development teams are vying for the right to build a hotel on a city-owned lot in Somerville’s Davis Square.
The Palm Beach Post
The posh Palm Beach condo-hotel The Brazilian Court is being foreclosed on, and the owners owe more than they initially paid. Richard and Adam Schlesinger, whose company Ceebraid Signal Corp. had both the Omphoy in Palm Beach and Gulfstream Hotel in Lake Worth foreclosed on in 2010, bought The Brazilian Court in 2002 for $18 million under Ceebraid affiliate CSC Brazilian, according to court records. Mellon United National Bank’s loan servicer states in a foreclosure lawsuit filed Tuesday that $19.1 million including interest is overdue on the mortgage, according to court documents.
Cornell Center for Real Estate and Finance
The Cornell index of hotel industry real estate transactions has identified a slowing of price increases for large hotel properties in the fourth quarter of 2012, while prices for small hotels were still rising at the end of last year.
Washington Business Journal
CityCenterDC developers Hines and Archstone are close to cementing a deal with an international flag to operate their planned 370-room hotel at New York Avenue and Ninth Street NW.
The Globe and Mail
Kathleen Taylor spent years preparing for the top job at Four Seasons Hotels Inc., but the company said Tuesday she will be replaced only three years after she finally sat down in the corner office.
The Miami Herald
The Gansevoort-turned-Perry hotel in Miami Beach is set to open in its latest iteration early next year: the eco-minded 1 Hotel & Residences South Beach.
Fort Worth Star-Telegram
The owners of the Sheraton Hotel and Spa downtown are looking for another buyer after a proposed deal to sell the bankrupt property to Dallas-based Prism Hotels & Resorts stalled.
Blackstone Group LP agreed to sell the Miami Beach Resort in Florida to Joseph Chetrit for $117 million as part of a debt restructuring in its LXR Luxury Resorts & Hotels unit, a person with knowledge of the deal said.
National Mortgage News
After “a lengthy period of weak cash flows,” Fitch Ratings reports the Long Island Marriott and Conference Center hotel moved into special servicing.
- Kimpton Group Holding Closes $203 Million Hotel Investment Fund
- Starwood Capital Group Acquires Principal Hayley Group
- Hospitality Properties Trust Announces Letter of Intent for Investments with NH Hoteles in Latin America, Europe and the USA
- Wyndham Enters Hotel Branding Alliance With Germany's Grand City Hotels
- John L. Williams Retires as DiamondRock President
- Marriott to Acquire Gaylord Hotels Brand and Management Company
- Blackstone Group to Acquire Motel 6 for $1.9 Billion
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The Arizona Biltmore Resort and Spa, Phoenix, Ariz.
Tuesday, September 17, 2013