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Jul-22, 2013
Blackstone Venture Files for Extended Stay America IPO
Bloomberg News
Extended Stay America Inc., the mid-price lodging chain owned by Blackstone Group LP, Centerbridge Partners LP and Paulson & Co., filed for a U.S. initial public offering, seeking to take advantage of a rally in hotel shares.
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Jul-19, 2013
Hyatt to Spend $325 Million to Enter All-Inclusive Resort Market
The Wall Street Journal
Hyatt Hotels Corp. said it is taking a stake in Playa Hotels & Resorts BV with a $325 million investment, marking its entry into the all-inclusive resort market.
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Jul-19, 2013
Former Memphis Greyhousd station could become a hotel
Memphis Business Journal
Nearly two years after Greyhound Lines left Downtown for new digs near the Memphis International Airport, the 40,000-square feet of space and 1.37 acres of land have been an attractive but undeveloped location.
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Jul-17, 2013
Witkoff Said to Buy NYC Park Lane Hotel for $660 Million
Bloomberg News
Investors led by the Witkoff Group agreed to buy the Helmsley Park Lane Hotel on Manhattan’s Central Park South for about $660 million, according to a person with knowledge of the transaction.
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Jul-15, 2013
San Diego group to buy, redevelop Phoenix's Hotel Monroe
Phoenix Business Journal
A San Diego hotel development group is lining up to buy the long-empty, historic Hotel Monroe building in downtown Phoenix for close to $8 million.
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Jul-07, 2013
Oregon Legislature proposes $10 million in funding for Portland Convention Hotel
The Oregonian
A plan to build a 600-bed Hyatt Hotel near the Oregon Convention Center got a shot in the arm from lawmakers Sunday night when lawmakers earmarked $10 million in lottery bonds for the project.
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Jul-09, 2013
Vote clears way for San Francisco Mission Bay hotel, condos
San Francisco Business Times
Strada Investment Group is gearing up to construct 350 residential units and a 250-room hotel across Lefty O’Doul Bridge from AT&T Park after the San Francisco Board of Supervisors amended the Mission Bay redevelopment plan to allow the project to move forward.
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Jul-02, 2013
Westin Fort Lauderdale Hotel's $42M loan in special servicing
South Florida Business Journal
The $41.5 million mortgage on the Westin Fort Lauderdale Hotel was placed into special servicing by its loan manager over risk of “imminent default”, according to Fitch Ratings.
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Jun-24, 2013
In China, Private Equity Looks to Luxury Travel
The Wall Street Journal
Private equity is losing its enthusiasm for China’s increasingly saturated budget-hotel business, seeking more creative ways to capitalize on the country’s growth in travel and tourism, especially at the higher end of the market.
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Jun-27, 2013
Chicago Hotel developer accused of fraud by SEC now faces foreclosure
Crain's Chicago Business
As he tries to fend off a fraud suit from federal regulators, the owner of a hotel development site near O'Hare International Airport now faces a $5.5 million foreclosure complaint from a lender.