DUBAI: Dubai’s Union Properties expects to sell its Ritz Carlton hotel in the Gulf emirate by the end of July, and will use the cash to finish projects and reduce its debt, its chairman said on Monday.
The company, which has put the hotel on the market for 1.6 billion dirhams ($435.7 million), has received two offers from investors in Saudi Arabia and the UAE, chairman Khalid bin Kalban told Reuters in an interview. “Now we have two offers very close to our target price,” he said. “We expect to announce the sale by the end of the month.”
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Tuesday, July 6, 2010
Miami Beach officials consider rules for rooftop clubs
After months of discussion and speculation about a potential law to regulate rooftop lounges in Miami Beach, hoteliers and residents finally have something tangible to debate.
An initial draft of Commissioner Jonah Wolfson's proposal -- which some hoteliers have feared could strangle a lucrative aspect of their industry -- was crafted June 30.
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An initial draft of Commissioner Jonah Wolfson's proposal -- which some hoteliers have feared could strangle a lucrative aspect of their industry -- was crafted June 30.
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Receiver Appointed To One Of the Largest Hotels In Europe
Some 400 jobs could be under threat after a receiver was appointed to CItywest Hotel, it emerged this evening.
Citywest Hotel, one of the biggest hotels in Europe, comprises 1,730 hotel rooms, suites and apartments; two golf courses and a large convention centre. It employs some 400 people.
Bank of Scotland (Ireland) Limited has appointed Martin Ferris of Ferris & Associates as receiver to the company HSS, trading as Citywest Hotel, Golf and Leisure.
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Citywest Hotel, one of the biggest hotels in Europe, comprises 1,730 hotel rooms, suites and apartments; two golf courses and a large convention centre. It employs some 400 people.
Bank of Scotland (Ireland) Limited has appointed Martin Ferris of Ferris & Associates as receiver to the company HSS, trading as Citywest Hotel, Golf and Leisure.
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