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Jun-25, 2013
Wall Street’s $8 Billion CMBS in Limbo as Bulls Retreat
Bloomberg News
Wall Street firms spent the past six months increasing commercial mortgage origination as investors bought the most debt in six years. That’s now backfiring as banks prepare to market $7.5 billion of loans earmarked to be sold as bonds before credit markets took a dive this month.
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Jun-24, 2013
Kempinski in Talks to Buy or Manage Europe Luxury Hotels
Bloomberg News
Luxury-hotel operator Kempinski AG is in talks to manage or buy properties in Barcelona, Paris and Nice, France, as it seeks to expand its European business.
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Jun-22, 2013
Starwood puts its three hotels near Philadelphia Airport up for sale
Philadelphia Inquirer
Starwood Hotels & Resorts Worldwide, Inc. is selling its trio of hotels near Philadelphia International Airport. The complex includes the 251-room Sheraton Suites Philadelphia Airport Hotel, the 177-room Four Points by Sheraton Philadelphia Airport and Aloft Philadelphia Airport with 136 rooms - 564 rooms combined.
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Jun-21, 2013
Court Rules Online Travel Companies Must Pay Taxes On Hotel Rooms Sold in Chicago
BusinessWire
Judge Robert Lopez Cepero of the Cook County Circuit Court ruled today that online travel companies such as Expedia, Orbitz and Priceline are required to remit taxes to the City of Chicago on gross receipts from hotel room sales in Chicago.
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Jun-21, 2013
Moinian Seeks Buyer for Downtown Los Angeles Real Estate
Bloomberg News
New York developer Joseph Moinian is marketing downtown Los Angeles land planned for a high-end retail, hotel and residential project.
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Jun-18, 2013
Ashford Hospitality to Spin Off Portfolio of 8 Luxury Hotels
The Motley Fool
Seeking to create clarity for investors by creating a company focused solely on the luxury hotel segment, Ashford Hospital Trust announced yesterday it was spinning off eight of its properties into a new real estate investment trust to be called Ashford Hospitality Prime.
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Jun-21, 2013
State Officials Moving Forward Boston Convention & Exhibition Center Hotel
Boston Herald
State officials moved forward on one of the largest hotel projects in the country yesterday — the construction of up to 1,500 rooms across the street from the Boston Convention & Exhibition Center in Southie’s Seaport District.
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Jun-20, 2013
Miami turns to Jorge Perez, Stephen Ross to carry out long-stalled Watson Island redevelopment
The Miami Herald
Last week, the commission voted to give the project’s original developer, Flagstone Island Gardens, a lease extension that grants additional time to start construction. The move will allow Perez’s Related Group of Florida and Ross’s New-York based Related Companies to become co-developers on the project, which they say will cost more than $1 billion.
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Jun-19, 2013
Gaylord financing plan could aid critics
The Denver Post
The proposed Gaylord hotel in Aurora will cost less and generate more profits than initially estimated, according to a document being circulated to raise new financing for the project.
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Jun-18, 2013
Miami Beach advisory board backs Portman-CMC plan to overhaul convention center
The Miami Herald
As Miami Beach moves closer to selecting a development team to execute a $1 billion overhaul of the city’s convention center district, advisory boards are weighing in with their own recommendations.