Talisker Corp. has expanded its already important presence in the Park City area, acquiring the Waldorf Astoria Hotel at the base of The Canyons Resort, which it bought in 2007.
Terms were not disclosed.
Formerly known as Dakota Mountain Lodge and part of the famed Waldorf Astoria Collection, the luxury hotel opened last summer. It has 170 rooms and condominiums, a Golden Door Spa, a restaurant and plans for a golf course.
But court records show that one of its principal developers, Lee Hindin of DuValcq Development, has encountered financial problems in the past year, apparently contributing to the change in ownership.
"We are proud to add this wonderful and complementary asset to the Talisker and Canyons properties in Park City," Jack Bistricercq, Talisker's chairman and CEO, said in a prepared statement. "The Waldorf Astoria will expand Talisker's 'Definitive Alpine Living' experience." Talisker is a Toronto-based real estate development and investment company. A local spokeswoman, Lisa Roskelley, added that the ownership change is not expected to result in operational changes at the hotel, whose general manager is Steve Lindburg, chairman of the Utah Board of Tourism Development.
Read More:
Tuesday, April 6, 2010
Sir Francis Drake Hotel goes on the block
The Sir Francis Drake Hotel is up for sale.
Chartres Lodging, a San Francisco-based lodging investment and advisory firm, put the landmark Union Square hotel on the market this week.
Chartres and a Dubai investment group bought the 416-room hotel from Kimpton for $65 million in July 2005, and subsequently invested $20 million more to renovate it. All in, Chartres has invested over $204,000 per room.
Chartres Lodging, a San Francisco-based lodging investment and advisory firm, put the landmark Union Square hotel on the market this week.
Chartres and a Dubai investment group bought the 416-room hotel from Kimpton for $65 million in July 2005, and subsequently invested $20 million more to renovate it. All in, Chartres has invested over $204,000 per room.
Icahn now owns whole mortgage on Trump casinos
ATLANTIC CITY, N.J. — Carl Icahn has bought the remaining half of the $500 million mortgage on the three Trump Entertainment Resorts casinos he's trying to buy out of bankruptcy.
He also won a $10 million interest payment in the transaction.
The billionaire investor, who previously owned 51 percent of the mortgage issued by Dallas-based Beal Bank, agreed last week to buy the remaining 49 percent at a 7.5 percent discount, according to court documents.
Icahn and Texas billionaire banker Andy Beal are facing off against Trump Entertainment bondholders and Donald Trump for ownership of the company's three Atlantic City casinos. Icahn wants to convert the mortgage into ownership of the casinos.
Read More:
He also won a $10 million interest payment in the transaction.
The billionaire investor, who previously owned 51 percent of the mortgage issued by Dallas-based Beal Bank, agreed last week to buy the remaining 49 percent at a 7.5 percent discount, according to court documents.
Icahn and Texas billionaire banker Andy Beal are facing off against Trump Entertainment bondholders and Donald Trump for ownership of the company's three Atlantic City casinos. Icahn wants to convert the mortgage into ownership of the casinos.
Read More:
CityCenter hotels’ features at your fingertips
Not so long ago, the quintessential Strip hotel room was an exercise in minimalism.
After all, it was more important to be on the casino floor than in the room. So the electronic options included a television with limited channels, a clock radio, maybe a “Magic Fingers” vibrating bed.
In recent years, rooms have gotten more channels, pay-per-view and Internet access. The Strip’s newest accommodations, at CityCenter’s Aria and Mandarin Oriental, are the iPad generation of rooms. The two resorts boast they have the most technologically advanced rooms in Las Vegas, and from the smallest room to the priciest suite, all guests get to experience the new gadgets.
Read More:
After all, it was more important to be on the casino floor than in the room. So the electronic options included a television with limited channels, a clock radio, maybe a “Magic Fingers” vibrating bed.
In recent years, rooms have gotten more channels, pay-per-view and Internet access. The Strip’s newest accommodations, at CityCenter’s Aria and Mandarin Oriental, are the iPad generation of rooms. The two resorts boast they have the most technologically advanced rooms in Las Vegas, and from the smallest room to the priciest suite, all guests get to experience the new gadgets.
Read More:
Fairmont Sells 40% To Boost Brand Globally
TORONTO - Fairmont Raffles Hotels International Inc., the Toronto-based luxury hotel chain, has issued US$467-million worth of new shares to Cayman Islandsbased Voyager Partners Ltd. in a strategic move to align itself with cash-rich investors in the hotel-property sector.
Fairmont Raffles, which is emerging from a particularly bad slump in the luxury hotel business, is recapitalizing to repay some of its debt and is seeking to build its brand by adding new management contracts.
Read More:
Fairmont Raffles, which is emerging from a particularly bad slump in the luxury hotel business, is recapitalizing to repay some of its debt and is seeking to build its brand by adding new management contracts.
Read More:
Cuba Gets Ready
Since unrestricted travel for Americans to Cuba appears to no longer be a case of "if" but "when," U.S. travel professionals are taking careful measure of how best to prepare to enter the fray.
And that fray represents a very large and promising market. Cuban officials estimate the eventual influx at close to 1 million U.S. visitors annually once the 47-year-old ban on travel to the island is lifted.
Cuba’s tourism minister, Manuel Marrero, said the country is ready.
"With our available capacity we could receive the American tourists without any problem," Marrero told U.S. travel professionals attending the first U.S.-Cuba Travel Summit in Cancun in late March.
Read More:
And that fray represents a very large and promising market. Cuban officials estimate the eventual influx at close to 1 million U.S. visitors annually once the 47-year-old ban on travel to the island is lifted.
Cuba’s tourism minister, Manuel Marrero, said the country is ready.
"With our available capacity we could receive the American tourists without any problem," Marrero told U.S. travel professionals attending the first U.S.-Cuba Travel Summit in Cancun in late March.
Read More:
