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Feb-19, 2012
RBS could make taxpayers hotel owners in Jurys deal
The Telegraph
Royal Bank of Scotland, which is 83pc state-owned, is understood to be weighing up a debt-for-equity swap to help the hotel chain restructure £652m of debt.
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Feb-19, 2012
US hedge funds set to take over at Travelodge
The Telegraph
Avenue Capital and GoldenTree Asset Management, both based in New York, have agreed to underwrite a £60m loan to the hotel operator, which has battled to keep up with interest repayments of almost £100m a year.
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Feb-10, 2012
San Diego Pushes Ahead With Convention Center
The Bond Buyer
In a 6-to-2 vote on Jan. 24, the City Council approved the creation of a convention center financing district through which local hotels would pay special taxes covering the bulk of costs for a proposed $520 million convention center.
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Feb-10, 2012
Amid Murders, Mexico Quietly Thrives
The Wall Street Journal
If Mexico's drug violence is so relentless and gruesome, then why are Marriott, Hilton, InterContinental and other hotel chains piling into the market? Largely because tourists and business travelers keep piling in too. Shootouts notwithstanding, Mexico is benefiting from a tide that is raising many boats around the world.
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Feb-08, 2012
Two Del Mar area hotels up for sale
The San Diego Union-Tribune
The 281-room San Diego Marriott Del Mar, located in Carmel Valley, and the 257-room Del Mar Hilton, just east of the racetrack, are among five Sunstone hotels offered for sale that are valued at roughly $200 million, according to a story in Real Estate Alert, a weekly trade publication that covers commercial real estate investment.
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Feb-06, 2012
Miami-Dade’s hotel rebound hits a plateau in December
The Miami Herald
Collections of hotel taxes leveled off in December, ending a streak of double-digit gains seen throughout most of 2011. Growth dropped from an average of 28 percent in the fall to just 1.6 percent in December. That still brought in a record $7.3 million for the month.
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Feb-06, 2012
Investors unearth new records in alleged Fontainebleau Las Vegas cost overrun coverup
The Las Vegas Sun
Investors suing over losses at the stalled $2.9 billion Fontainebleau Las Vegas casino-resort say they’ve uncovered startling internal documents detailing how its developer allegedly covered up cost overruns and other problems at the project.
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Jan-26, 2012
Ritz-Carlton Loan at Risk of Default as Business Travel Declines
Bloomberg
A $170.6 million loan backed by four Ritz-Carlton hotels in New York and Washington may be at risk of default as a drop in business travel to the luxury properties cut into their owners’ ability to pay the debt.
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Jan-24, 2012
L.A. breaks tourism record with 27 million visitors in 2011
The Los Angeles Times
Los Angeles County broke the previous record of 25.9 million visitors in 2007 by welcoming 27 million in 2011, according to the Los Angeles Convention and Visitors Bureau, known as LA Inc. The latest numbers are a 4.2% increase over 2010.
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Jan-22, 2012
Hilton focused on growth, not IPO
The Washington Post
When private-equity giant Blackstone Group took Hilton Worldwide private in a $26 billion buyout in 2007, the timing could not have been worse. It wasn’t long before a financial crisis consumed the global economy, and business travel — the bread and butter of the hotel giant — fell sharply.