Sunday, October 10, 2010
Chicagos Hotel Indigo faces foreclosure
(Crain’s) — The turnaround of the local hotel market came too late for Hotel Indigo in the Gold Coast, which has been hit with a $27-million foreclosure lawsuit.
The owner of the 165-room property, an investor group affiliated with Chicago-based Neighborhood Development Corp., stopped making its monthly loan payments back in January, according to the complaint, filed last week in Cook County Circuit Court.
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The owner of the 165-room property, an investor group affiliated with Chicago-based Neighborhood Development Corp., stopped making its monthly loan payments back in January, according to the complaint, filed last week in Cook County Circuit Court.
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Jamaica approves gaming licenses
Kingston, JAMAICA-More competition is on the way for the decreasing tourism dollar. Jamaica has approved gaming licenses for three properties, with the first one set to come on stream as early as 2012, Guardian Business has learned.
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Restaurant-goers haven't cut back on tipping
The recession curbed many Americans' appetite for dining out and took a bite out of restaurant and bar receipts.
Today as the economy improves and foodies are returning to indulge their palates again, many are toting their belt-tightening habits with them.
For these diners, trading down to cheaper meals, skipping courses or forgoing alcoholic drinks has become the new norm.
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Today as the economy improves and foodies are returning to indulge their palates again, many are toting their belt-tightening habits with them.
For these diners, trading down to cheaper meals, skipping courses or forgoing alcoholic drinks has become the new norm.
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Blackstone May Gain 14 Columbia Sussex Hotels After Acquiring Junior Debt
Blackstone Group LP bought the junior debt on 14 hotels owned by Columbia Sussex Corp. and may seize the properties from the company, according to two people with knowledge of the matter.
A $539 million mortgage on the real estate that comes due this month was turned over to a firm specializing in troubled commercial property loans due to imminent default, Fitch Ratings said in June. Blackstone has purchased portions of mezzanine debt tied to the mortgage that may allow it to take control of the hotels as soon as this month, said the people, who asked not to be identified because the talks are private.
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A $539 million mortgage on the real estate that comes due this month was turned over to a firm specializing in troubled commercial property loans due to imminent default, Fitch Ratings said in June. Blackstone has purchased portions of mezzanine debt tied to the mortgage that may allow it to take control of the hotels as soon as this month, said the people, who asked not to be identified because the talks are private.
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Gordon Ramsay's kitchen nightmare ends as profits double and Savoy Grill dream unfolds
The combative celebrity chef - who this week delayed the much anticipated reopening of The Savoy Grill in London’s Savoy hotel - produced profits of £4.2m in the 11 months to the end of August, up from £2.47m for the same period a year ago.
The figures come after the entrepreneur and television star combined his two entities, the heavily loss-making Gordon Ramsay Holdings International, which owns all his restaurants opened since September 2007, and Gordon Ramsay Holdings, which encompassed the rest of the chef’s businesses.
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The figures come after the entrepreneur and television star combined his two entities, the heavily loss-making Gordon Ramsay Holdings International, which owns all his restaurants opened since September 2007, and Gordon Ramsay Holdings, which encompassed the rest of the chef’s businesses.
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