JHM Hotels, Inc. has purchased the Hyatt Regency Greenville, located at 220 N. Main St. in Greenville, SC from Hyatt Hotels Corporation for an estimated $13.725 million, or $41,800 per key.
The six-story, 328-room, 444,150-square-foot hospitality building was delivered in 1984 on four acres in the Greenville Central Business District at Route 183.
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Thursday, December 2, 2010
Channings and The Howard in Edinburgh put up for sale
One of Scotland's leading hoteliers has put up for sale the first properties he bought when he founded the boutique Town House chain, The Scotsman can reval. Both Channings and The Howard in Edinburgh have gone on the market just months after Peter Taylor finished work on a troubled five-star hotel in Glasgow.
The asking price for the two Town House hotels has not been disclosed, although they are expected to command several million pounds each. They are being marketed privately, and Mr Taylor has revealed they have already attracted significant interest.
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The asking price for the two Town House hotels has not been disclosed, although they are expected to command several million pounds each. They are being marketed privately, and Mr Taylor has revealed they have already attracted significant interest.
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Pocmont Hotel Corp files for bankruptcy liquidation
Weeks after a New Jersey group bought a closed Poconos resort, the hotel's former corporate parent filed for bankruptcy liquidation protection.
Pocmont Hotels Corp., which operated Pocmont resort in Bushkill for decades until it closed abruptly in November 2009, filed recently for Chapter 7 liquidation protection in U.S. Bankruptcy Court for the Middle District of Pennsylvania.
In October, an investment group headed by a New Jersey caterer bought the 155-acre property from a division of First National Community Bank of Dunmore for $2 million.
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Pocmont Hotels Corp., which operated Pocmont resort in Bushkill for decades until it closed abruptly in November 2009, filed recently for Chapter 7 liquidation protection in U.S. Bankruptcy Court for the Middle District of Pennsylvania.
In October, an investment group headed by a New Jersey caterer bought the 155-acre property from a division of First National Community Bank of Dunmore for $2 million.
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Biltmore Hotel To Receive $1.5 Million In Bond Money For Restoration
When Miami-Dade voters approved a $2.9 billion general obligation bond program six years ago, the Biltmore Hotel in Coral Gables was not among the list of projects slated to receive funds. Today, county Commissioner Rebeca Sosa aims to change that. She is sponsoring a resolution on the December 7 county commission agenda that would grant $1.5 million in bond money to pay for the Biltmore Hotel's restoration.
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Former Delray Beach hotel manager charged with grand theft
DELRAY BEACH — A 39-year-old hotel manager was charged Tuesday with grand theft and organized scheme to defraud after she took the meaning of customer service to another level.
Britt Stefanowicz began working at the Residence Inn on Atlantic Avenue in 2003, a Delray Beach police report says. She became general manager of the hotel about three years ago and started conducting fraudulent transactions to help a guest not have to pay his balance throughout 2009.
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Britt Stefanowicz began working at the Residence Inn on Atlantic Avenue in 2003, a Delray Beach police report says. She became general manager of the hotel about three years ago and started conducting fraudulent transactions to help a guest not have to pay his balance throughout 2009.
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Shanghai's Housing Rents, Hotel Rates Fall Up to 50% After World Expo Ends
Shanghai’s apartment rents and hotel room rates near the World Expo site fell as much as half as China’s biggest international event this year ended.
Rents on a two-bedroom apartment in the neighborhood, which fetched from 6,000 yuan ($900) to 10,000 yuan a month during the showcase that ended Oct. 31, have fallen 50 percent, said Chen Yi, manager of the Expo branch of Centaline Property Agency Ltd. Hotel rates declined as much as 47 percent last month from October, according to Qunar, China’s largest travel website tracking the city’s 2,000 hotels.
President of RAI Hotel Acquisition, Inc., charged with fraud
(Hospitality Business News) NEW YORK December 2 2010 - The President of RAI Hotel Acquisition, Inc., ("RAI, Inc."), was arrested and charged with securities fraud, wire fraud, and mail fraud in connection with a $1.5 million scheme in which Robert McDonald falsely told an investor that the investor’s funds would be used towards the purchase of more than $100 million worth of hotels. Instead, McDonald spent the investor’s funds on, among other things, a variety of personal expenses. McDonald was arrested Wednesday morning in Brooklyn, and appeared before a U.S. Magistrate in Manhattan federal court.
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Mass Mutal puts 6 hotels up for sale
Three San Diego hotels that fell into foreclosure earlier this year are now up for sale as part of a portfolio of six bank-owned properties located in Southern California and Utah. The three local hotels -- the Courtyard by Marriott San Diego and Holiday Inn Express San Diego, both in Old Town, and the Holiday Inn in downtown San Diego -- account for a little more than 500 rooms out of the 1,245 being marketed for sale.
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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
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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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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Tuesday, November 30, 2010
Top Restaurants in Toronto
Restaurants in Canada's biggest city are taking advantage of being near some of the best growing regions in the world, explains local chef Brad Long. With nearly 2 million acres of protected green space surrounding the city, and swaths of farmland beyond that, there are spectacular areas to pasture animals, grow cash crops and produce more delicate items, Mr. Long says.
An increasing availability of great ingredients is one of the reasons the Canadian-born chef believes Toronto restaurants are coming into their own. "Until recently we tried to be like other places," Mr. Long says. "Now I find Toronto comfortable being Toronto."
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An increasing availability of great ingredients is one of the reasons the Canadian-born chef believes Toronto restaurants are coming into their own. "Until recently we tried to be like other places," Mr. Long says. "Now I find Toronto comfortable being Toronto."
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Southern Portugal is the location for first six-star service hotel in Europe
PORTUGAL (eTN) - For the wealthy, it seems that five-stars simply aren’t enough when it comes to staying in a hotel. Butlers, Bentleys, and caviar are “de rigueur” and pampering to the needs of guests who have everything are self-proclaimed seven-star properties like the Town House Galleria in Milan, and Dubai’s Burj Al Arab Hotel. The seven-stars rate, like the half dozen, doesn’t officially exist. But the lure of bedding down for the night at a famously prestigious address is undeniably compelling.
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