BAHA Mar and Scotiabank were last night said to be "close" to a resolution over the latter's $170 million syndicated loan that financed the developer's acquisition of the existing Cable Beach properties, sources close to the situation telling Tribune Business that "tremendous progress" had been made.
This newspaper was told that Baha Mar and the bank, which is involving executives from its Toronto head office in the talks, had been meeting since the developer signed the $2.5 billion loan with China Export-Import Bank to facilitate the $2.6 billion Cable Beach redevelopment.
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Wednesday, April 28, 2010
Bahamian Hotel union members go to the polls
THE 'A' Team representing Nicole Martin in the Bahamas Hotel Catering and Allied Workers Union election was "confident but not celebratory" at press time, as they waited for the final results, late last night.
Hubert Saunders, candidate for treasurer on the 'A' Team, said they were waiting on the last votes to be counted. That was not expected for another two hours, which would be about midnight.
Hundreds of workers gathered between Worker's House, on Harrold Road, and the National Centre for Performing Arts on Shirley Street while ballots were being counted. The atmosphere was rowdy and festive, with the police having to intervene in an altercation between supporters at the Shirley Street polling station.
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Hubert Saunders, candidate for treasurer on the 'A' Team, said they were waiting on the last votes to be counted. That was not expected for another two hours, which would be about midnight.
Hundreds of workers gathered between Worker's House, on Harrold Road, and the National Centre for Performing Arts on Shirley Street while ballots were being counted. The atmosphere was rowdy and festive, with the police having to intervene in an altercation between supporters at the Shirley Street polling station.
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Vail's Four Seasons delayed as owner files lawsuit
VAIL, Colorado — The completion date of the Four Seasons in Vail, Colorado has been delayed again, and the owner has filed a multi-million-dollar lawsuit against a consultant.
The $250 million hotel-condo-fractional project was supposed to open in June, but a spokeswoman said there is currently no opening date slated for the project.
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The $250 million hotel-condo-fractional project was supposed to open in June, but a spokeswoman said there is currently no opening date slated for the project.
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Thieves Wheel ATM Out of Hotel Lobby
Two men remain at large after wheeling away an ATM machine full of $15,000 in cash early Monday morning and arousing the suspicion of a coffee shop worker.
According to Garden Grove police, one of the men, who wheeled a moving dolly into the lobby of the Crown Plaza Hotel about 5:10 a.m. Monday, was wearing a black vest with yellow lettering that could have been confused for a police or security guard uniform.
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According to Garden Grove police, one of the men, who wheeled a moving dolly into the lobby of the Crown Plaza Hotel about 5:10 a.m. Monday, was wearing a black vest with yellow lettering that could have been confused for a police or security guard uniform.
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Chicago Gold Coast hotel misses loan payments
Crain’s) — The owner of the Hotel Indigo in the Gold Coast has fallen behind on loan payments, another case illustrating the downside of loading up on debt at the peak of the market.
Three years after refinancing the hotel with a $27-million loan, Neighborhood Development Corp. is in jeopardy of losing the property at 1244 N. Dearborn Parkway, which is no longer generating enough cash flow to cover $2 million in annual debt service costs.
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Three years after refinancing the hotel with a $27-million loan, Neighborhood Development Corp. is in jeopardy of losing the property at 1244 N. Dearborn Parkway, which is no longer generating enough cash flow to cover $2 million in annual debt service costs.
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Bartender Allegedly Tried To Rape Hotel Guest In Chelsea
A creepy bartender at a swank Chelsea hotel allegedly tried to rape a patron after getting his hands on a key card to her room, The Post has learned.
But the victim furiously fought off the fiend, who allegedly attacked her as she slept at the Wyndham Garden Hotel on West 24th Street.
Manuel Gomez-Rodriguez, 30, met the 27-year-old woman early Friday morning in the bar at the hotel's on-site restaurant, San Rocco, where he mixes drinks, sources said.
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But the victim furiously fought off the fiend, who allegedly attacked her as she slept at the Wyndham Garden Hotel on West 24th Street.
Manuel Gomez-Rodriguez, 30, met the 27-year-old woman early Friday morning in the bar at the hotel's on-site restaurant, San Rocco, where he mixes drinks, sources said.
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Dubai Holding's Jumeirah to open 10 hotels in 18 mths
DUBAI, April 28 (Reuters) - Dubai government-owned hotelier Jumeirah Group, a unit of Dubai Holding, said on Wednesday it planned to open ten hotels in the next 18 months, and launch a new hotel brand, after strong results in the first quarter
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Ritz-Carlton: We 'deeply regret' handling of guests' racist request
Ritz-Carlton just issued this statement to Hotel Check-In regarding the lawsuit filed by Wadner Tranchant, a longtime employee of the Ritz-Carlton Beach Resort in Naples, Fla. Last week,Tranchant filed a federal discrimination suit against the hotel owner and general manager, alleging that the hotel honored a couple's request to not be served by "people of color" or people with foreign accents. If you didn't catch the story last week, read it here. Here is the company's statement...
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Host Hotels & Resorts, Inc. Reports Results of Operations for the First Quarter of 2010
BETHESDA, Md., April 28, 2010 /PRNewswire via COMTEX/ --Host Hotels & Resorts, Inc. (NYSE: HST), the nation's largest lodging real estate investment trust (REIT), today announced results of operations for the first quarter ended March 26, 2010. The results for the quarter exceeded the Company's expectations for several metrics, including RevPAR, earnings and FFO per diluted share and Adjusted EBITDA, that were incorporated into the Company's full year 2010 guidance issued on February 17, 2010.
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Wyndham Worldwide Reports First Quarter 2010 Earnings Results Exceed Expectations Increases Full-Year Guidance
PARSIPPANY, N.J. 04-28-2010 —Wyndham Worldwide Corporation (NYSE:WYN) today announced results for the three months ended March 31, 2010.
FIRST QUARTER HIGHLIGHTS:
Adjusted first quarter 2010 diluted earnings per share (EPS) was $0.34, compared with Company-issued guidance of $0.27 - $0.32.
Reported first quarter 2010 diluted EPS was $0.27, compared with $0.25 in the first quarter of 2009.
Free cash flow, which the Company defines as net cash from operations less capital expenditures, equity investments and development advances, increased 7% to $166 million in the first quarter of 2010, compared with $155 million during the same period in 2009.
For the quarter, the Company repurchased approximately 757,000 shares of its common stock at an average price of $24.20. The repurchase program was reactivated on February 19, 2010.
As previously announced, the Company tripled its quarterly dividend, paying its first dividend at the $0.12 per share level on March 15, 2010
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FIRST QUARTER HIGHLIGHTS:
Adjusted first quarter 2010 diluted earnings per share (EPS) was $0.34, compared with Company-issued guidance of $0.27 - $0.32.
Reported first quarter 2010 diluted EPS was $0.27, compared with $0.25 in the first quarter of 2009.
Free cash flow, which the Company defines as net cash from operations less capital expenditures, equity investments and development advances, increased 7% to $166 million in the first quarter of 2010, compared with $155 million during the same period in 2009.
For the quarter, the Company repurchased approximately 757,000 shares of its common stock at an average price of $24.20. The repurchase program was reactivated on February 19, 2010.
As previously announced, the Company tripled its quarterly dividend, paying its first dividend at the $0.12 per share level on March 15, 2010
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