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Aug-16, 2012
IKEA Plans Stylish Budget Hotel Chain in Europe
Reuters
IKEA, best known as the world's largest furniture retailer, plans to build a budget hotel chain across Europe, following a trend for cheap-but-cool accommodation driven by low air fares and increasingly price-conscious business travelers.
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Aug-14, 2012
Battle Brews Over Big-Name Luxury Hotels
The Wall Street Journal
Singapore's sovereign-wealth fund is forcing an auction of four massive luxury U.S. resorts, setting up the fund for a confrontation with the existing owners: a group led by hedge fund Paulson & Co. and Boston-based Winthrop Realty Trust. At stake is control over some of the most-prestigious hotel properties in the U.S., including the 780-room Grand Wailea Resort Hotel & Spa in Wailea, Hawaii, and the 796-room La Quinta Resort & Club PGA West in La Quinta, Calif.
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Aug-15, 2012
Hyatt Regency Bethesda Fetches $106M at Auction
Washington Business Journal
Lenders bought the Hyatt Regency Bethesda for $106 million, or about $271,800 per room, at a foreclosure auction Tuesday after initiating the sale to collect on a $140 million mortgage on the property, according to auctioneer Tidewater Auctions LLC.
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Aug-04, 2012
State Legislation Allows Seven New Hotels in Boston's Seaport District
The Boston Globe
The state Legislature has paved the way for the Massachusetts Convention Center Authority to begin the first phase of a $2 billion expansion plan by authorizing construction of up to seven hotels around the Boston Convention & Exhibition Center in the Seaport District.
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Aug-06, 2012
THE hotel to be Rebranded as Delano Las Vegas
Las Vegas Review-Journal
THE hotel, an 1,100-room all-suite resort attached to Mandalay Bay, will become the Delano Las Vegas under a partnership between MGM Resorts International and Morgans Hotel Group.
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Aug-07, 2012
Mohegan Tribe to Take Over Operations at Resorts Atlantic City
The Washington Post
The tribe that owns the Mohegan Sun casino extended its reach in the East on Tuesday by taking over operations of Atlantic City’s oldest casino, planting itself in the region’s gambling mecca as an alternative to luring tourists to its slot machines and poker tables in eastern Connecticut.
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Aug-02, 2012
Convention Center Authority to Buy Site for Expansion
The Boston Globe
The Massachusetts Convention Center Authority is planning the first step toward a $2 billion expansion of its South Boston hall with the purchase of a large tract of land on which it would build hundreds of hotel rooms, according to three people with direct knowledge of the transaction.
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Aug-01, 2012
High Court Reveals Secret Deal of Trump Developer’s Crimes
Miami Herald
Dozens of explosive records released by the U.S. Supreme Court show a developer of the failed Trump tower in Fort Lauderdale helped put away dangerous Mafia soldiers — while prosecutors struck a secret deal to conceal his charges in a major scam with mob members.
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Aug-02, 2012
Foxwoods Tribe Reaches Debt Restructuring Deal
The Wall Street Journal
The Indian tribe that runs the largest casino in the U.S. reached a deal with lenders and bondholders to restructure more than $2 billion of debt, bringing an end to a prolonged financial crisis that spooked the Native American gambling market.
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Jul-30, 2012
New York's Plaza Hotel sold to Sahara for $570 million
Reuters
India's Sahara Group has agreed to buy a controlling stake in New York's landmark Plaza Hotel for $570 million, Elad Properties, an Israeli-owned real estate company, said on Monday. The 105-year-old luxury hotel overlooking New York's Central Park, is jointly owned by Elad Properties, an Israeli-owned real estate company, and Saudi-based Kingdom Holdings Co 4280.SE.