10 Sage Hospitality managed Coco Key Hotels to be auctioned off

Ten operating hotels managed by Denver's Sage Hospitality Resources in seven states and owned by a variety of investors are to be auctioned off next month.

Most have been marketed under the "CoCo Key Water Resort" brand and feature indoor pools and other water-sport amenities.

The properties are in Connecticut, Illinois, Massachusetts, Missouri, Nebraska, New Jersey and Ohio.
The auction is being managed by the hotel division of Jones Lang LaSalle and Real Estate Disposition Corp. and is being conducted online via the real estate auction website auction.com.

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Bank-owned hotels in San Diego on the rise

Hotel occupancies and revenues may be on the rebound, but that hasn’t kept foreclosures at bay in San Diego County, which has the second highest number of bank-owned properties in the state, according to a lodging report released Friday.

By the end of 2010, 16 hotels accounting for nearly 1,700 rooms had been foreclosed on, a 433 percent over 2009 when there were just three real estate-owned hotels, reported Atlas Hospitality Group, which tracks defaults and foreclosures among California hotels. The county was second only to San Bernardino, which had 17 bank-owned hotels, Atlas said.

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HYATT announces agreement to rebrand Waikiki hotel

CHICAGO (Hospitality Business News - Jan. 20, 2011) — Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has signed a franchise agreement with The Chartres Lodging Group, LLC, for a Hyatt Place hotel in Waikiki, Hawaii.  Under the agreement, the hotel, which is currently operating under the name Ocean Resort Hotel Waikiki, will undergo an extensive renovation and will be re-branded in the fall of 2011 as the 425-room Hyatt Place Waikiki.

Kokua Hospitality, LLC (http://www.kokuahospitality.com/), also announced its appointment by Chartres Lodging and Morgan Stanley Real Estate to manage the Waikiki property and oversee its renovation and repositioning.  Once the renovation is completed, Kokua will continue to manage the property.  The Ocean Resort Hotel Waikiki was acquired in December 2010 by a joint venture of Chartres Lodging and Morgan Stanley.

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