CHICAGO--(BUSINESS WIRE)--Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate sold three Chicago area hotel properties to a joint venture of AREA Property Partners and Aimbridge Hospitality and entered into long-term hotel franchise agreements with the buyers for each of the three hotels, Hyatt Lisle, Hyatt Deerfield, and Hyatt Rosemont. The combined sale price of the three properties was $51 million, and the AREA/Aimbridge joint venture plans to invest $13.5 million in capital improvements at the three properties.
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Wednesday, December 1, 2010
Hyatt Announces Sale and Franchising of Three Chicago Area Hotels to Area Property Partners and Aimbridge Hospitality
Canadians Travel to Buffalo for the Beer
Two Saturdays ago, Troy Burtch settled into a seat at Blue Monk, a new Elmwood Avenue restaurant, and ordered a glass of Sierra Nevada's 30th Anniversary Brewers Reserve Grand Cru.
It cost $7 a glass, and tasted like freedom.
"That's a limited-release beer we would never, ever see in Toronto," said Burtch. "We wouldn't be able to get this anywhere in Ontario. So to be able to go down there and sit at the bar and order a glass was fantastic."
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It cost $7 a glass, and tasted like freedom.
"That's a limited-release beer we would never, ever see in Toronto," said Burtch. "We wouldn't be able to get this anywhere in Ontario. So to be able to go down there and sit at the bar and order a glass was fantastic."
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Far cheaper to run an eatery in U.S. than Canada
If you’ve always wondered why a pint of suds seems so pricey in a Canadian restaurant or bar compared to the U.S., look at the numbers.
Mike Smith, owner of Joe Kool’s, the popular Richmond Row pub in London, pays $228.95 for a 58.6-litre keg of Labatt Blue draught.
He pays about US$80 for that same keg of London-brewed draught in Michigan, to supply the Joe Kool’s restaurant in Troy, in suburban Detroit.
Ontario restaurateurs
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Mike Smith, owner of Joe Kool’s, the popular Richmond Row pub in London, pays $228.95 for a 58.6-litre keg of Labatt Blue draught.
He pays about US$80 for that same keg of London-brewed draught in Michigan, to supply the Joe Kool’s restaurant in Troy, in suburban Detroit.
Ontario restaurateurs
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The downfall of Toronto's Circa night club
When New York City club king Peter Gatien landed in Toronto and declared he would change the city’s nightlife forever with his audacious new nightclub Circa, he couldn’t have known he was laying the groundwork for one of the most expensive financial flops the city’s club set has ever seen.
The only thing left to fight over when the club closed in March was some old furniture and about $15,000 worth of booze – cold comfort to investors who were owed some $8-million.
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Dutch Want to Ban Foreigners from Marijuana Coffee Shops
The newly elected rightist Dutch government said Wednesday it wants to bar foreigners from buying marijuana in the Netherlands' famous cannabis coffee shops. The move is part of a national crack down on drug use, a government spokesman said.
For more than 30 years, Holland has allowed the sale of small amounts of marijuana (currently up to five grams) in coffee shops, even though laws against marijuana possession technically remained on the books. In recent years, conservative governments have increasingly signaled their unhappiness with the status quo and have embarked on campaigns to reduce the number of coffee shops.
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