Snowmass Village, the Colorado ski town neighboring Aspen, got a lift in 2007 when Hypo Real Estate Holding AG agreed to arrange $520 million of loans to complete a $1 billion year-round resort.
Three years later, construction has halted on parts of the 19-acre Base Village in Snowmass, where some buildings are wrapped in plastic, and Hypo has been seized by the German government. When the lender, whose 2009 implosion was Germany’s biggest bank failure since World War II, tried to foreclose on the developers in July, it was met by a countersuit that accused it of a “shameful repudiation” of its obligations.
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Saturday, August 28, 2010
Boca Raton Bridge Hotel faces bankruptcy
A group of creditors who claim the owner of Boca Raton Bridge Hotel has not paid them have filed a petition to put the company into Chapter 11 bankruptcy.
Ten creditors filed the petition on Friday in federal court in Palm Beach County against Boca Bridge LLC.
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Ten creditors filed the petition on Friday in federal court in Palm Beach County against Boca Bridge LLC.
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Hartford's Crowne Plaza In Bankruptcy
Aug. 27--The owners of the Crowne Plaza hotel just north of downtown Hartford have filed for bankruptcy, the latest blow to the city's hospitality industry already hard hit in the recession.
The Chapter 11 bankruptcy case is a debt reorganization, not a liquidation; the 350-room hotel near I-84 remains open for business. The company that manages the hotel, Packard Hospitality Group, would not comment on whether the hotel will continue to operate, although there is no sign that it is closing.
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The Chapter 11 bankruptcy case is a debt reorganization, not a liquidation; the 350-room hotel near I-84 remains open for business. The company that manages the hotel, Packard Hospitality Group, would not comment on whether the hotel will continue to operate, although there is no sign that it is closing.
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U.K. Sausage Week is almost here! !
by: Eric Hertha
The hunt for the UK’s star sausage will once more get underway during this year’s British Sausage Week. Sausage producers, butchers, farm shops and caterers are all in with a chance of taking the title. The official dates are November 1 – 7.
I am sure that you will all remember last years event. A good time was had by all. And this years event, organized by Bpex, will provide a unique platform to celebrate the taste, quality and rich diversity of the great British Sausage.
Organizers said this year’s event was seeking sausages with ‘star quality’ - whether that is a secret recipe, extra ingredient or the quality of pork used. Entrants are simply required to provide the name of their chosen sausage and include a brief description of why it deserves to be ‘Britain’s Star Sausage’. The deadline for entries is Friday 3rd September 2010, after which shortlisted finalists will be chosen. Who knows you could win the British Sausage Week Banger Award. Something that you could cherish for years to come
As you know, hotels in London fill up quickly when the official dates are announced. Packages, as always, are available and don’t forget to dress like a Sausage when you check into your hotel to get added discounts. If your companion looks like mashed potatoes the "sky is the limit" on additional bonus discount coupons. You could even win a chance to get your picture taken with "Miss Banger". Also remember to try a Sausage Martini!
(writers note - although most of this article is true some sarcastic references have been added. )
The hunt for the UK’s star sausage will once more get underway during this year’s British Sausage Week. Sausage producers, butchers, farm shops and caterers are all in with a chance of taking the title. The official dates are November 1 – 7.
I am sure that you will all remember last years event. A good time was had by all. And this years event, organized by Bpex, will provide a unique platform to celebrate the taste, quality and rich diversity of the great British Sausage.
Organizers said this year’s event was seeking sausages with ‘star quality’ - whether that is a secret recipe, extra ingredient or the quality of pork used. Entrants are simply required to provide the name of their chosen sausage and include a brief description of why it deserves to be ‘Britain’s Star Sausage’. The deadline for entries is Friday 3rd September 2010, after which shortlisted finalists will be chosen. Who knows you could win the British Sausage Week Banger Award. Something that you could cherish for years to comeAccording to Organizers “The competition is always hotly contested, drawing hundreds of entries from butchers, manufacturers and retailers and we hope this year will be no different. But the sausages will have to be of stellar quality if they are going to satisfy our strict judges!”
Competition entry forms are available to download from www.porkforbutchers.co.uk or by email sausageenquiries@bpex.org.uk.
(writers note - although most of this article is true some sarcastic references have been added. )
Serving and Learning Blend in New Hotel
“I have worked on some of the most complicated projects I could ever have imagined. This was the year I realized how much I love the hotel business,” Hemphill says with a grin. “It’s the career I always wanted but never knew it.”
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British Virgin Islands London Tourist office struggles to keep going
Christine Mortimer, general manager of the BVI Tourist Board’s United Kingdom Tourist Office, tendered her resignation on Aug. 16, citing a financial situation she said is so bad that her office is barely able to cover its utility bills. According to Ms. Mortimer, who helped establish the office in 1991 and became general manager in 2006, the office stopped receiving communications from the Virgin Islands-based BVITB office three to four months ago and has been operating without a budget for more than a year.
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Nassau (Bahamas) Hotel industry well on it's way to recovery
THE Nassau/Paradise Island resort industry is "60 per cent of the way back" to pre-September 2008 levels on revenue generation and occupancies, the Bahamas Hotel Association's (BHA) president said yesterday, telling Tribune Business he estimated the sector would return to pre-recession numbers by the 2011 second quarter.
Robert Sands, who is also Baha Mar's senior vice-president for external and governmental affairs, told this newspaper that while the Bahamian hotel industry was expecting to continue its year-over-year improvements through the August-November period, albeit at a smaller margin compared to the first seven months of 2010, the sector was "better than half-way back" to 2008 levels in several key indicators.
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Robert Sands, who is also Baha Mar's senior vice-president for external and governmental affairs, told this newspaper that while the Bahamian hotel industry was expecting to continue its year-over-year improvements through the August-November period, albeit at a smaller margin compared to the first seven months of 2010, the sector was "better than half-way back" to 2008 levels in several key indicators.
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Harrah's urges court to approve $12.17m Baha Mar payment
US gaming giant Harrah's Entertainment has filed a motion in the New York State Supreme Court for a September 14 hearing to approve the payment of $12.174 million in legal costs to it by Baha Mar, warning that if the Cable Beach developer opposes this it will seek to also gain the $116,492 it was denied.
James Kearney, an attorney with Latham & Watkins, in an affidavit filed with the New York courts earlier this week, affirmed that Harrah's and its Caesars Bahamas subsidiary were moving to recover the legal costs they had allegedly incurred in defending themselves against breach of contract and other claims made over the two parties' failed $2.6 billion joint venture to redevelop Cable Beach.
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James Kearney, an attorney with Latham & Watkins, in an affidavit filed with the New York courts earlier this week, affirmed that Harrah's and its Caesars Bahamas subsidiary were moving to recover the legal costs they had allegedly incurred in defending themselves against breach of contract and other claims made over the two parties' failed $2.6 billion joint venture to redevelop Cable Beach.
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Disney workers to get $433,000 in back pay. Still can't wear religious scarfs
Walt Disney Parks and Resorts has agreed to pay almost half a million dollars in back pay to employees as a result of violations of the Fair Labor Standards Act, the U.S. Department of Labor announced.
An agency investigation revealed that inventory control clerks in the company's food and beverage department were not paid for work activities that occurred before and after their shifts, labor officials say.
Officials say the investigation also revealed that the clerks worked through meal times and from home without compensation.
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An agency investigation revealed that inventory control clerks in the company's food and beverage department were not paid for work activities that occurred before and after their shifts, labor officials say.
Officials say the investigation also revealed that the clerks worked through meal times and from home without compensation.
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Ramsay Holdings Full-Year Loss Almost Doubles Following Expansion to U.S
The net loss for the 12 months ended Aug. 31, 2009, widened to 8.32 million pounds ($12.9 million) from 4.32 million pounds a year earlier. One-time costs climbed to 5.81 million pounds from 849,510 pounds as the company wrote off the investment in venues in New York, California and Florida. The operating loss narrowed to 2.45 million pounds from 3.47 million pounds.
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W Boston faces foreclosure
Prudential Insurance Co. is pushing to foreclose on the bankrupt W Boston Hotel and Residences, putting more than $10 million in city loan funds at risk if high-end condos at the swanky complex in the Theater District are sold off at bargain-basement prices.
Prudential, which originally sunk $192 million in the W Boston, openly mocked developer Sawyer Enterprises’ plans to rent out 25 of the approximately 100 unsold units within the complex, saying it would merely put wear-and-tear on condos and make them less attractive for future sales because they would be “stigmatized as rental property.”
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Prudential, which originally sunk $192 million in the W Boston, openly mocked developer Sawyer Enterprises’ plans to rent out 25 of the approximately 100 unsold units within the complex, saying it would merely put wear-and-tear on condos and make them less attractive for future sales because they would be “stigmatized as rental property.”
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Pizza Hut (U.K.) makes £12m loss
The UK division of Pizza hut, has made a £12.12m loss.
This loss is down £13.31m on the previous year, with the business last reporting a profit in 2006; with the profit being £6.88m.
A spokesperson commented: “Pizza Hut UK is investing in the business and continues to focus on providing the best-possible experience for customers through store remodels, menu innovation and expansion of its delivery service.”
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This loss is down £13.31m on the previous year, with the business last reporting a profit in 2006; with the profit being £6.88m.
A spokesperson commented: “Pizza Hut UK is investing in the business and continues to focus on providing the best-possible experience for customers through store remodels, menu innovation and expansion of its delivery service.”
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Vegas casino fined for dancing gambler
Las Vegas has a reputation for letting visitors get away with all kinds of "bad" behavior. Activities like gambling and drinking on the street get a free pass in this anything-goes gaming capital. But apparently that permissive Vegas attitude doesn't extend to all behaviors, particularly if you like celebratory dancing when you hit it big at the tables.
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Debt woes hit 3 hotels in north suburbs of Chicago
(Crain's) — A trio of north suburban hotels are mired in loan trouble, including a 237-room Embassy Suites in Deerfield that's being handed back to its lender.
All three hotels — the Embassy Suites, a 161-room Springhill Suites in Lincolnshire and a 115-room Holiday Inn Express in Riverwoods — have missed loan payments and weren't generating enough cash flow last year to cover their debt service, according to loan reports by Bloomberg L.P.
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All three hotels — the Embassy Suites, a 161-room Springhill Suites in Lincolnshire and a 115-room Holiday Inn Express in Riverwoods — have missed loan payments and weren't generating enough cash flow last year to cover their debt service, according to loan reports by Bloomberg L.P.
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Hunter Realty Opens Miami Office in Hotel Play
MIAMI-Atlanta-based hotel investment advisory services firm Hunter Realty has set up shop in Miami. Stephen Taylor, the firm’s newly-minted vice president, will lead the Miami office into opportunities in Florida and the Caribbean.
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