The former Pittsburgh Hilton Hotel would become the Wyndham Grand Pittsburgh under a plan that owners submitted today to U.S. Bankruptcy Judge Jeffrey A. Deller.
A letter of intent was worked out with Wyndham Hotels and Resorts Tuesday night, attorneys for the owners said. The Parsippany, N.J., based company is one of the world's largest hotel chains, and is also the franchiser of Days Inn hotels and Super 8 motels.
Read More:
Wednesday, September 15, 2010
`Web of Lies' Hid Assets of Florida Father-Son Hotel Developers, U.S. Says
A father and son who built hotels used a “web of lies” to hide income and assets including Miami Beach mansions, luxury cars, a yacht and a helicopter from U.S. tax authorities, a Florida federal prosecutor told jurors.
Mauricio Cohen Assor, 77, and his son, Leon Cohen Levy, 46, concealed their wealth behind nominee owners of companies in tax havens while reporting annual income of no more than about $46,000 a year, Assistant U.S. Attorney Jeffrey Neiman said today in federal court in Fort Lauderdale, Florida.
Read More:
Mauricio Cohen Assor, 77, and his son, Leon Cohen Levy, 46, concealed their wealth behind nominee owners of companies in tax havens while reporting annual income of no more than about $46,000 a year, Assistant U.S. Attorney Jeffrey Neiman said today in federal court in Fort Lauderdale, Florida.
Read More:
Sonic Corp Q4 comp sales fall 6.4 pct
Sept 14 (Reuters) - Drive-in restaurant chain Sonic Corp (SONC.O) reported a 6.4 percent decline in fourth-quarter same-store sales, sending its shares down 5 percent after the bell.
Sonic, whose sales have been hit due to the high unemployment rates among its core demographics, said same-store sales in its drive-ins were down 6.1 percent for the quarter
Read More:
Sonic, whose sales have been hit due to the high unemployment rates among its core demographics, said same-store sales in its drive-ins were down 6.1 percent for the quarter
Read More:
Long Island Starwood Aloft Developer files bankruptcy
A developer that sought to build a Starwood Aloft Hotel in Long Island City filed for Chapter 11 bankruptcy protection just over a month after its lender U.S. Bank won a $19.6 million judgment against it in state court.
The single-purpose entity Queens Plaza Development, based in Brooklyn, planned to build a 16-story hotel at 29-37 41st Avenue just north of Queens Plaza. However the weak economy made it impossible to get construction financing and the project stalled, papers filed last Wednesday in federal bankruptcy court in Brooklyn say.
Read More:
The single-purpose entity Queens Plaza Development, based in Brooklyn, planned to build a 16-story hotel at 29-37 41st Avenue just north of Queens Plaza. However the weak economy made it impossible to get construction financing and the project stalled, papers filed last Wednesday in federal bankruptcy court in Brooklyn say.
Read More:
'White knight' doctor bids to take over Pittsburgh Hilton
A Tampa, Fla., cardiologist known for his philanthropic work is prepared to take over ownership of the former Hilton Pittsburgh as part of a plan to save the troubled hotel.
In a letter of intent filed in U.S. Bankruptcy Court in Pittsburgh Tuesday, Dr. Kiran C. Patel also pledged to provide $3 million to cover hotel operating costs over the next 13 weeks.
Read More:
In a letter of intent filed in U.S. Bankruptcy Court in Pittsburgh Tuesday, Dr. Kiran C. Patel also pledged to provide $3 million to cover hotel operating costs over the next 13 weeks.
Read More:
Bethesda Md. Garden Inn sells for over $400K per room
Bethesda, Md.-based DiamondRock Hospitality just picked up the Hilton Garden Inn Chelsea from Inland American Winston Hotels for $68.4 million, according to a deed filed today with the city. The 169-room hotel at 121 West 28th Street, which opened in 2007, is the company's third in New York City and 23rd nationwide. New York City has proven to be one of the best hotel markets in the United States and is exhibiting robust growth in 2010," DiamondRock CEO Mark Brugger said in a statement. "The hotel was particularly desirable to DiamondRock because of its ability to charge essentially full-service room rates with a more profitable limited-service cost structure." The deal closed Sept. 8, records show
Planned luxury hotel in Downtown Memphis wins 20-year tax freeze
It would be the largest minority-owned development to date in the Downtown area, Center City Commission director of development and diversity outreach Jaske Goff said.
The Center City Revenue Finance Corp. approved the tax freeze for RPD Hotels LLC for an 11-story, 298-room Hilton Memphis Downtown Hotel at the southeast corner of Fourth and Linden.
Read More:
The Center City Revenue Finance Corp. approved the tax freeze for RPD Hotels LLC for an 11-story, 298-room Hilton Memphis Downtown Hotel at the southeast corner of Fourth and Linden.
Read More:
