Financing
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UAE lender signs refinancing deal on Paris' Prince de Galles    18 Apr, 2013

The UAE's National Bank of Abu Dhabi has announced the close of a refinancing deal with Paris' Prince de Galles, part of Starwood Hotels & Resorts Worldwide's Luxury Collection, Gulf Business reports. The deal involves the renovation of the hotel, which is scheduled to re-open on May 16. The...More>>

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Call for Kansas City, Mo., convention hotel rekindled   16 Apr, 2013

As KansasCity.com reports, with the city's revived downtown, may say a 1,000-room hotel could help draw extra conventions and visitors. And, in recent weeks, the city's mayor has begun talking a bit more about resuscitating efforts to build such a structure. The item opines that "if a private...More>>

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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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