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Jul-10, 2012
A Rocky Mountain Low
The Wall Street Journal
Developers of a posh Four Seasons hotel-and-condominium project have come up with an effective strategy for turning around condo sales in a tough market: cut prices by as much as 60%.
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Jul-08, 2012
Army Privatizing Base Hotels
The Washington Post
The Army is privatizing its hotels, turning their renovation, development and operations over to the private sector in an effort to improve their quality and consistency.
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Jul-03, 2012
Investors Find Comfort in Hotel Market
The Wall Street Journal
With continued economic turbulence in the euro zone and lackluster performance elsewhere in Europe, the search for investment havens has alighted on an unlikely asset class: hotels.
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Jul-06, 2012
Renaissance Fort Lauderdale Hotel in $40M Foreclosure
South Florida Business Journal
In the largest South Florida hotel foreclosure launched this year, the Renaissance Fort Lauderdale Cruise Port Hotel was hit with a $40 million foreclosure lawsuit.
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Jul-02, 2012
Ocean Liner Queen Elizabeth 2 to Become a Hotel
The Wall Street Journal
Dubai said Monday it has decided the fate of the Queen Elizabeth 2, the 45-year-old ocean liner it bought at the height of the economic boom five years ago and which has been lying idle in the emirate's Port Rashid ever since.
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Jun-29, 2012
Genting Group Opening Luxury Boutique Casino in Bimini
The Miami Herald
Genting has signed a deal to open Resorts World Bimini Bay, a luxury boutique casino at Bimini Bay Resort & Marina in North Bimini Island. The 10,000-square-foot multimillion-dollar casino is scheduled to open in December featuring full-scale table games, slots and sports betting, in a venue similar to casinos Genting operates in London. Sources familiar with the deal estimate the cost of the casino at more than $20 million.
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Jun-27, 2012
Developer Rick Caruso Wins Montecito Hotel Tax Break
The Los Angeles Times
High-profile developer Rick Caruso got his long-standing wish Tuesday: a tax break that could be worth more than $15 million for knocking down Montecito's dilapidated Miramar Hotel and building a luxury resort on the star-crossed site.
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Jun-28, 2012
Five Hotels Owned by Shamrock-Hostmark Fund File for Chapter 11
Dow Jones Newswires
Five hotels owned by investment fund Shamrock-Hostmark Hotel Fund LP filed for Chapter 11 bankruptcy Wednesday after they were unable to pay or negotiate an extension on loans that matured May 31.
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Jun-25, 2012
China in Talks With U.S. Home Builder
The Wall Street Journal
Lennar Corp., one of the U.S.'s largest home builders, is in talks with the China Development Bank for approximately $1.7 billion in capital to jump-start two long-delayed San Francisco projects that would transform two former naval bases into large-scale housing developments, according to people familiar with the discussions.
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Jun-22, 2012
Starwood Capital to Sell Four French Luxury Hotels to Qatari Group
AFP
US hotel group Starwood Capital is to sell four key French properties, including the famed Martinez in Cannes and the Concorde Lafayette in Paris, to a Qatari investor, a union official said on Friday.