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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Saturday, January 22, 2011
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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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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Friday, January 21, 2011
Chipotle fires hundreds, draws protest
Chipotle Mexican Grill said on Thursday that it had fired a substantial number of the 1,200 employees at its 50 Minnesota restaurants after a federal immigration audit found some were illegal workers.
The circumstances of the firings, which began in early December, sparked a protest by several dozen people around noon on Thursday at a downtown Minneapolis Chipotle restaurant. Minneapolis police arrested eight participants after they chained themselves together inside the restaurant. They were cited for trespassing.
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The circumstances of the firings, which began in early December, sparked a protest by several dozen people around noon on Thursday at a downtown Minneapolis Chipotle restaurant. Minneapolis police arrested eight participants after they chained themselves together inside the restaurant. They were cited for trespassing.
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Las Vegas tourist sues for refund after sex act led to ‘tragic’ arrest threat
A tourist says he was traumatized when Las Vegas police threatened to arrest him after he complained about an act of prostitution in his hotel room.
Hubert Blackman of New York City filed a lawsuit this month against a Las Vegas company he identified as Las Vegas Exclusive Personals. The lawsuit says the business operates on Paradise Road.
Blackman, a college student, said in an interview Thursday that he was on vacation and staying at the Stratosphere on Dec. 17 when he called Las Vegas Exclusive Personals to arrange for a stripper to come to his room and dance for him.
Blackman said the woman, who appeared to be in her mid 20s, stripped and performed a lap dance for $155 and a sex act for another $120.
He said that the next morning, he called Las Vegas Exclusive Personals to demand his money back, saying he was dissatisfied because the entertainer didn't stay for the promised one hour and left after a half hour.
Blackman said he also told the company he was incapable of making an informed agreement with the stripper because he was drunk at the time.
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Hubert Blackman of New York City filed a lawsuit this month against a Las Vegas company he identified as Las Vegas Exclusive Personals. The lawsuit says the business operates on Paradise Road.
Blackman, a college student, said in an interview Thursday that he was on vacation and staying at the Stratosphere on Dec. 17 when he called Las Vegas Exclusive Personals to arrange for a stripper to come to his room and dance for him.
Blackman said the woman, who appeared to be in her mid 20s, stripped and performed a lap dance for $155 and a sex act for another $120.
He said that the next morning, he called Las Vegas Exclusive Personals to demand his money back, saying he was dissatisfied because the entertainer didn't stay for the promised one hour and left after a half hour.
Blackman said he also told the company he was incapable of making an informed agreement with the stripper because he was drunk at the time.
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Reader poll: 81% say no to hotel pay-per-view, go for 'free'
Echoing a decade-long decline in hotel movie rentals, 81% of the 2,357 people who responded to USA TODAY's latest traveler poll Thursday said they do not order hotel pay-per-view movies.
Specifically, 66% of respondents said that instead of renting a movie, they watch free programs on the TV set. Another 15% said that they used to rent movies, but today bring their own DVDs or watch movies online on their laptop or digital device
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Specifically, 66% of respondents said that instead of renting a movie, they watch free programs on the TV set. Another 15% said that they used to rent movies, but today bring their own DVDs or watch movies online on their laptop or digital device
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The World is sinking: Dubai islands 'falling into the sea'
But the World, the ambitiously-constructed archipelago of islands shaped like the countries of the globe, is sinking back into the sea, according to evidence cited before a property tribunal.
The islands were intended to be developed with tailor-made hotel complexes and luxury villas, and sold to millionaires. They are off the coast of Dubai and accessible by yacht or motor boat.
Now their sands are eroding and the navigational channels between them are silting up, the British lawyer for a company bringing a case against the state-run developer, Nakheel, has told judges.
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Hodges Ward Elliot closed $2.4B in transactions in 2010
ATLANTA--(Hospitality Business News)--Hodges Ward Elliott, Inc. (HWE), the nation’s premier hotel brokerage and investment banking firm, today announced that it closed on $2.4 billion in transactions in 2010, led by a strong fourth quarter. The company predicted a solid increase in transactions in 2011 due to pent-up buyer demand, an increase in available financing and a positive outlook for the hotel industry over the next few years.
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Wyndham to franchise and manage Dream and Night boutique hotels
PARSIPPANY, NJ--(Hospitaliy Business News - January 20, 2011) - Wyndham Hotel Group, part of the Wyndham Worldwide family of companies (NYSE : WYN), today announced it has entered into an agreement with Chatwal Hotels & Resorts, LLC, gaining exclusive rights to franchise and manage its Dream® and Night® boutique hotel brands globally.
Dream and Night hotels currently are open in New York; Bangkok, Thailand; and Cochin, India. In addition, the 108-room, Art-Deco-inspired Dream South Beach is scheduled to open early this year in Miami Beach, Fla., adjacent to the former Versace Mansion on Collins Avenue. The company also has announced plans to open a Dream hotel in New York's Meatpacking District during the second quarter of this year and expand in South Asia.
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Dream and Night hotels currently are open in New York; Bangkok, Thailand; and Cochin, India. In addition, the 108-room, Art-Deco-inspired Dream South Beach is scheduled to open early this year in Miami Beach, Fla., adjacent to the former Versace Mansion on Collins Avenue. The company also has announced plans to open a Dream hotel in New York's Meatpacking District during the second quarter of this year and expand in South Asia.
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Hersha Hospitality to aquire Capital Hill Suites
PHILADELPHIA--(Hospitality Business News)-- Hersha Hospitality Trust(NYSE: HT), owner of select service and upscale hotels in major metropolitan markets, announced that it has signed a definitive agreement to purchase the 152 room Capitol Hill Suites, Washington, D.C. for approximately $47.5 million, or $312 thousand per key excluding closing costs.
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Thursday, January 20, 2011
Marriott takes porn off the menu at new hotels
Marriott International, one of the nation's leading hotel groups, tells USA Today's Hotel Check-In that it's pulling access to adult movies from the new hotel rooms it will be opening the next several years.
Marriott says that its decision coincides with a pending shift to new, in-room entertainment technology.
See related story - LodgeNet says outlook unchanged as some customers start to phase out Adult content
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Marriott says that its decision coincides with a pending shift to new, in-room entertainment technology.
See related story - LodgeNet says outlook unchanged as some customers start to phase out Adult content
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New AC Hotels by Marriott Brand Formally Launches
(Hospitality Business News) January 20, 2011---Today the Spanish hotel group AC Hotels and Marriott International, Inc. formally announced their joint venture to manage and franchise a new lodging co-brand across Europe and Latin America – “AC Hotels by Marriott.”At launch, over 90 existing AC Hotels in Spain, Italy and Portugal will be re-branded as AC Hotels by Marriott and enter into long term management or franchise agreements with the joint venture.
Antonio Catalan, chairman and founder of AC Hotels said, “We are thrilled to be partnering with Marriott. The new AC Hotels by Marriott co-brand combines the strengths of both AC Hotels and Marriott International--AC Hotels’ exceptional product and expertise and the power of Marriott’s engines, global footprint and the power of its development organization. We see tremendous growth potential for AC Hotels by Marriott and will be aggressively pursuing development opportunities throughout Europe and Latin America.”
Wendy’s/Arby’s Group Exploring Strategic Alternatives for Arby’s
ATLANTA--(Hospitality Business News) --Wendy's/Arby's Group, Inc. (NYSE: WEN), the third-largest quick-service restaurant company in the United States, today announced it is exploring strategic alternatives for Arby’s Restaurant Group, Inc., including a sale of the brand. UBS Investment Bank is assisting in the process.
Arby’s® is the second-largest quick-service sandwich chain in the U.S. with nearly 3,700 restaurants. Arby’s restaurants specialize in slow roasted and freshly sliced roast beef sandwiches as well as Market Fresh® deli-style sandwiches, toasted subs and salads, all with the convenience of a drive-through.
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Arby’s® is the second-largest quick-service sandwich chain in the U.S. with nearly 3,700 restaurants. Arby’s restaurants specialize in slow roasted and freshly sliced roast beef sandwiches as well as Market Fresh® deli-style sandwiches, toasted subs and salads, all with the convenience of a drive-through.
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Loan on Luxury Park Hyatt Aviara Resort Extended
Broadreach Capital Partners said a $186.5 million loan backed by the Park Hyatt Aviara Resort, a luxury hotel that went into default in September after cash flow dried up, was extended by five years.
Payments were brought up to date as part of an agreement to extend the financing until Feb. 11, 2017, said Heather Turner, a director with the Palo Alto, California-based real estate investment company. The debt had been scheduled to mature next year, she said. Broadreach and hotel owner Maritz Wolff & Co. hold a majority stake in the resort.
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Luxury hotels in Telluride, Colo., to close at height of ski season
By Doug Pensinger, Getty Images North America
The Telluride Daily Planet reports that the 100-room Capella Telluride hotel, as well as the 32-room Inn at Lost Creek - both in the heart of Telluride's Mountain Village - will be shuttered as of Jan. 31 as part of the ongoing foreclosure process
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