-
May-31, 2012
Activist Investor Nelson Peltz Sets Sights on InterContinental Hotels Group
The Telegraph
Mr Peltz is best known in the UK for being the catalyst behind the 2007 demerger of Cadbury Schweppes, which left the iconic British chocolate brand vulnerable to assault by US food giant Kraft.
-
Jun-03, 2012
Stalled Grand Avenue Development May Get a Second Look
The Los Angeles Times
Bunker Hill is showing signs of life. A new 12-acre Civic Park is nearly complete, sloping down to the steps of City Hall in a cascade of stairs and lawns. Down the block, the skeleton of the Broad Museum is rising on Grand Avenue, set to take its place alongside the Museum of Contemporary Art, Walt Disney Concert Hall and the Dorothy Chandler Pavilion.
-
Jun-29, 2012
Arguments End in Hearing Over Sheraton Fort Worth Hotel
Fort Worth Star-Telegram
A bankruptcy judge heard final arguments Tuesday about a legal squabble among lenders over the financially troubled Sheraton Fort Worth Hotel and told attorneys that he needs some time before he rules.
-
May-29, 2012
CIM Group Romps on Both Coasts
The Wall Street Journal
A Los Angeles-based real-estate investor that has been an aggressive buyer in New York is selling a prime Hollywood hotel and a downtown Manhattan lot as it edges closer toward completing financing for its $1.2 billion project on Park Avenue.
-
May-29, 2012
Hotel Investors Hope for Transatlantic Tie-up
The Telegraph
InterContinental and Marriott are two of the world’s biggest hotel players. FTSE 100-listed Intercontinental runs over 4,500 hotels worldwide including New York’s Barclay while America’s Marriott operates 3,700 properties. Asking whether the two could “room together”, analysts at Numis thought that “hotel industry consolidation is inevitable at some stage” and considered a merger between the British and American pair to be “just one of the potential tie-ups”.
-
May-22, 2012
Alex Hotel, Flatotel Owners File For Bankruptcy In Manhattan
Bloomberg
205 East 45 LLC, the owner of east midtown Manhattan- located Alex Hotel, has $123 million in outstanding liabilities with the lenders group, according to a Chapter 11 filing yesterday in U.S. Bankruptcy Court in Manhattan. EALC LLC, the owner of Flatotel in west midtown Manhattan, has $245 million in liabilities with the lenders, according to the filing.
-
May-23, 2012
Irish Bank Sees Property Upturn
Bloomberg
Ireland's so-called bad bank—the National Asset Management Agency—said Wednesday that signs showed the country's property-market crash was past its worst, and that it plans to invest €2 billion ($2.5 billion) to prepare its property portfolio for sale.
-
May-23, 2012
Paulson-Led Group To Sell Hotels To End Their Bankruptcy
Bloomberg
A group led by Paulson & Co. plans to sell the Arizona Biltmore resort and the Claremont Hotel Club & Spa in Berkeley, California, as part of an effort to bring the properties and two other hotels out of bankruptcy.
-
May-24, 2012
Roberts Brothers' Dallas Hotel Files for Bankruptcy
St. Louis Business Journal
Michael and Steven Roberts, the brothers behind the Roberts Cos., put its Dallas hotel into Chapter 11 bankruptcy protection May 23. The hotel is the final of six properties involved in a $34 million lawsuit that Bank of America brought against the brothers.
-
May-22, 2012
Blackstone Lodges Several Hotel Moves
The Wall Street Journal
Blackstone Group LP, one of the world's largest hotel investors, is playing both offense and defense these days as the lodging industry slowly recovers from the downturn.
