LaSalle Hotel Properties has closed on its new $177.5-million term loan. The seven-year term loan matures on May 16, 2019. The term loan was swapped to a fixed interest rate for the full seven-year term. The term loan's interest rate will be 3.87 percent when the REIT's leverage ratio is between...More>>

The Rancho Mirage city council has given a conditional extension to a $20-million loan deal with the developers of the stalled Ritz-Carlton hotel, My Desert reports. The loan had been set to expire June 1. The new agreement extends it to June 25, and if developer Rancho California Investments pays...More>>

Wall Street's growing appetite for commercial mortgages is prompting Cerberus Capital Management to seek as much as $1.8 billion in new debt on six resorts, including five in Hawaii, Bloomberg reports. Cerberus is approaching banks for a loan to pay off debt taken out in 2006, sources say. The move...More>>

Hotel Management spoke with Carlton Hospitality Group president John Bralower about the company's recent success in refinancing hotel properties.More>>

Citybiz Real Estate reports that Newmark Grubb Knight Frank's Capital Group in Miami has arranged a $26.5-million dollar refinance of the National Hotel with a fixed-rate, 10-year conduit mortgage facility. The 151-room, 1939 Art Deco hotel, purchased by the Dray family in 2007, has undergone major...More>>

The Herald-Sun reports that Craig Greenberg, president of the Louisville, Ky.-based 21c Museum Hotels, is hopeful to convert the SunTrust tower in Durham, N.C., into a contemporary art-infused hotel. He is in talks with local officials about incentives for the redevelopment proposal. The company is...More>>

Access Point Financial, which provides lending for the hospitality industry, provided first mortgage financing for a 173-room Residence Inn by Marriott in downtown Tempe, Ariz. The hotel is being developed by Miami-based Finvarb Group. The APF financing is the foundation of a multifaceted capital...More>>

Struggling with debt, Kerzner International, the company synonymous with the Atlantis brand has sold its stakes in both its Atlantis-branded resorts in the Bahamas and Dubai.More>>

The Wall Street Journal reports that Indian Hotels Co. has raised $38 million by selling bonds. The company, which is part of Tata Group, owns Taj Hotels Resorts and Palaces. "Low-coupon bonds are designed in a way that bondholders receive a relatively low rate of interest annually in the initial...More>>

While Asian investment into Europe carries its own challenges—most notably the strength of the euro and the pros and cons of branding—its pros outweigh the cons, at least for now, according to speakers at the International Hotel Investment Forum in Berlin. More>>