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Jan-19, 2012
Hotels still waiting to leave Lehman crisis behind
The Miami Herald
South Florida hotels received their 2011 report card Thursday, and the grades look solid. Smith Travel Research released its December survey of room rates and occupancy levels, and both measures showed strong gains for Broward and Miami-Dade. Rates are up 2 percent in Broward and 6 percent in Miami-Dade over 2010 results, and occupancy grew between 5 and 7 percent in both counties.
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Jan-13, 2012
Blackstone buys mortgage on Mondrian South Beach condo-hotel
South Florida Business Journal
Eurohypo AG granted a mortgage of up to $124 million in 2006 to hotel owner 1100 West Properties. The borrower is a joint venture that includes New York-based Morgans Hotel Group Co. (NASDAQ: MHGC) and Miami-based Hudson Consulting & Management.
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Jan-11, 2012
Korman Expands Extended-Stay Hotel Brand
The Wall Street Journal
Korman Communities is expanding its AKA brand of luxury, extended-stay hotels to Los Angeles, seeking to cater to the entertainment-industry clientele that it already serves with its four hotels in New York.
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Jan-11, 2012
Colony Capital Wins Control of Jameson Inns
The Wall Street Journal
Colony Capital LLC is going budget. The California-based private equity firm on Monday won a hard-fought battle among creditors for control of the Jameson Inn chain of 103 budget hotels in the Southeast and Midwest U.S.
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Jan-10, 2012
Miami-Dade hotels: What recession?
The Miami Herald
The already strong hotel rebound picked up steam this fall. Miami-Dade just released its November hotel tax report, and it includes some startling numbers. The countywide hotel tax is up 35 percent, while hotel taxes charged mostly on the Miami-Dade mainland are up 47 percent.
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Jan-05, 2012
Revised gambling bill asks Florida voters to decide fate of future casinos
Miami Herald
In an effort to win support and silence critics, the Senate sponsor of the bill to bring resort casinos to Florida wants to let voters approve any new gambling and allow counties outside of Miami Dade and Broward to compete for three mega-casino permits.
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Jan-05, 2012
Two more Southern Nevada hotels default on debt
Las Vegas Sun
As the Southern Nevada gaming and tourism economy improves in 2012, financial restructurings of troubled companies and properties are expected to slow down.
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Jan-03, 2012
Tech and tourists help spur surge in Bay Area hotel business
Contra Costa Times
The hotel market has roared back in the Bay Area, an upswing that suggests the region's battered lodging sector is finally putting the devastation of the recession behind it.
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Dec-31, 2011
Have We Got a Convention Center to Sell You!
The Wall Street Journal
For two decades, America's convention center business has been declining, resulting in a nationwide surplus of empty meeting facilities, struggling convention halls and vacant hotel rooms. How have governments responded to this glut? By building more convention centers, of course, financed by debt backed by new taxes and fees on already struggling taxpayers.
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Dec-21, 2011
Moinian Wins Midtown Site
The Wall Street Journal
Luxury hotel developer Morris Moinian has purchased the Pan American Magazine Building at 1146-1150 Sixth Ave. in an off-market transaction. He plans a $140 million development, with a 35-story building of roughly 140,000 square feet that could be either a luxury hotel or office building.