Financing
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Jurys Inn Hotel Group completes financial restructuring    15 Apr, 2013

Jurys Inn Hotel Group has announced that it has completed a financial restructuring. The restructuring was achieved by the existing shareholders, Oman Investment Fund and Avestus Capital Partners, working with Jurys Inn lenders IBRC, Ulster Bank and AIB and the Jurys Inn management team. In...More>>

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Hotel developer looks for subsidies in San Bruno, Calif.   15 Apr, 2013

San Bruno, Calif., reportedly has occupancy rates that reach into the 80s, and as such, some hotel owners in the area are asking why city officials have opened up negotiations with a South Carolina-based hotel developer who wants millions in city subsidies to build an upscale hotel on a city-owned...More>>

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Houston's convention center hotel gets final go-ahead   10 Apr, 2013

The Houston Business Journal reports that the necessary agreements have been finalized on the city's second convention center hotel, which will be next to the George R. Brown Convention Center, and work will soon commence. Houston-based Morris Architects unveiled renderings of the $335-million,...More>>

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Hotel activity in Los Angeles strong, growing   4 Apr, 2013

Increasing group convention demand and new entertainment venues are helping drive the market in L.A. RevPAR growth is strong and construction is picking up. Downtown inventory is expected to increase 40 percent in the next four years, but the growth isn't limited to that area. The west side of the...More>>

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DiamondRock raises $102 million for capex projects, debt repayment   4 Apr, 2013

The two separate secured, non-recourse financings will allow the company to lock in low interest rates for 10 years and fund a renovation and repositioning program. They also will fund the acquisition of the Hilton Garden Inn Times Square South, which is expected to take place in mid-2014.More>>

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Morgans Hotel Group moves to lower debt, gives hotel stake to Burkle-led firm   1 Apr, 2013

Morgans, under continued pressure from its largest shareholder, has struck a deal with Yucaipa Cos., billionaire Ron Burkle’s investment firm, that will help to significantly lower its debt. More>>

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Asian buyers attracted by Portugal's new visa rules   29 Mar, 2013

Property Wire reports that the decision by Portugal to follow Spain and grant visas to property investors from outside the European Union should help boost the real estate market. It means that non-EU citizens investing a minimum of €500,000 in a property will be granted a five year residency...More>>

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Bank of America closes $235M Baccarat loan   27 Mar, 2013

Real Estate Weekly reports that Bank of America has closed a $235-million construction loan for the Baccarat Hotel & Residences, the 50-story luxury building being constructed on West 53rd Street in Manhattan by Starwood Capital. The glass tower will feature 114 guestrooms including 26 suites, as...More>>

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Jurys Inn hotel chain getting cash injection   25 Mar, 2013

The Independent of Ireland reports that the "struggling" Jurys Inn hotel chain, which operates hotels in the UK, will get a massive cash injection and have nearly two-thirds of its borrowings wiped out under a debt-for-equity swap by its main lender this week. The 32-hotel chain will be bailed out...More>>

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HFF arranges $250M financing for three-property Omni Hotel portfolio   19 Mar, 2013

HFF has arranged $250 million in financing for three Omni Hotels totaling 1,339 guestrooms located in Texas and Illinois. HFF worked on behalf of the borrower, Omni Hotels Corporation, to secure the 15-year, fixed-rate loan through Prudential Mortgage Capital Company. The hotels are the Omni Fort...More>>




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