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Taj Boston Prepares for Hotel's Wood-Burning Season

Posted by Scott Kauffman 09/02/10 9:00 AM

(BOSTON, MA) -- As autumn approaches, the Fireplace Butlers at Taj Boston are readying the landmark hotel's wood-burning fireplaces for the opening of Fireside Season on October 15. Read More
Smart Phone's Now Impacting Consumer Travel Habits

Posted by Peter Yesawich 08/31/10 10:05 AM

(ORLANDO, FL) -- Three out ten cell phones in use in the United States are now "smart phones" with Internet connectivity. And one of the most intriguing questions facing travel service marketers is how travelers are using these devices to plan, purchase and share information about both destinations and travel service suppliers. Read More
U.S. Hotels Continue Performance Gains in August

Posted by Michael Gerrity 08/30/10 8:45 AM

According to data from Smith Travel Research, (STR), the U.S. hotel industry reported increases in all three key performance measurements during the week of 15-21 August 2010. In year-over-year measurements, the industry's occupancy increased 8.2 percent to 65.3 percent. Read More
Europe Based Club La Costa Resorts & Hotels Purchases Encantada Resort in Kissimmee, Florida

Posted by Michael Gerrity 08/25/10 1:57 PM

Privately owned Club La Costa Resorts & Hotels has just purchased Encantada Resort in Kissimmee, Florida from Park Square Homes. Financial terms were not disclosed. Club La Costa founder and Chairman, Roy Peires, made the announcement of the company's first North American property. Read More
U.S. Hotel Market Continues to Enjoy Performance Gains in July

Posted by Michael Gerrity 08/23/10 10:15 AM

According to the latest report from Smith Travel Research (STR), the U.S. hotel industry posted increases in all three key performance measurements during July 2010.In year-over-year measurements, the industry's occupancy was up 7.0 percent to 67.9 percent. Average daily... Read More
Nantucket Boat Basin Earns Top Marina Award

Posted by Scott Kauffman 08/19/10 9:00 AM

(NANTUCKET, MA) -- The Nantucket Boat Basin, owned by Nantucket Island Resorts, has been all over the news recently for winning the Marinalife Best Transient Marina Award, and now the Boat Basin is being honored yet again as the recipient of Nantucket Race Week's Clean Harbor Award. Read More
U.S. Hotel Sector Continues Performance Gains in Early August

Posted by Michael Gerrity 08/16/10 9:50 AM

According to the latest market data from Smith Travel Research (STR), the U.S. hotel industry reported increases in all three key performance measurements during the week ending August 7, 2010.In year-over-year measurements, the industry's occupancy increased 6.7 percent to 70.2... Read More
Salish Cliffs Golf Club Names Head Superintendent

Posted by Scott Kauffman 08/12/10 8:42 AM

(SHELTON, WASHINGTON) -- Salish Cliffs Golf Club - the latest amenity of the Squaxin Island Tribe's Little Creek Casino Resort - has named industry veteran and Washington native Bob Pearsall as head superintendent. Read More
U.S. Hotel Industry to End 2010, Start 2011 with Uptick in Performance Metrics

Posted by Michael Gerrity 08/12/10 8:35 AM

According to Smith Travel Research (STR) latest forecast update, the U.S. hotel industry is projected to end 2010 with increases in two of the three key performance measurements. Read More
PGA National Resort & Spa Salutes Active Military with Labor Day Special

Posted by Scott Kauffman 08/09/10 8:30 AM

(PALM BEACH GARDENS, FL) -- PGA National Resort & Spa - home of the PGA TOUR Honda Classic - invites all active duty military to enjoy a complimentary one night stay over Labor Day weekend, September 3-6. Read More
U.S. Hotels Show Performance Gains in July

Posted by Michael Gerrity 08/06/10 2:40 PM

According to data from Smith Travel Research (STR), the U.S. hotel industry reported increases in all three key performance measurements during the week ending July 31, 2010.In year-over-year measurements, the industry's occupancy increased 6.8 percent to 71.0 percent. Average daily... Read More
Club at Mediterra Conserving Water with Irrigation Pilot Project

Posted by Scott Kauffman 08/03/10 2:29 PM

(NAPLES, FL) -- At a time when sustainable development, eco-friendly, low-carbon footprint and green-friendly are modern-day buzzwords, residents at the upscale Club at Mediterra are being greeted with "Conserving Water" signs in the irrigated areas surrounding the main fountains in Mediterra. Read More
U.S. Hotels Report Performance Increases in Late July

Posted by Michael Gerrity 08/02/10 8:30 AM

According to data from Smith Travel Research, the U.S. hotel industry reported increases in all three key performance measurements during the week of July 24, 2010.In year-over-year measurements, the industry's occupancy increased 7.3 percent to 71.8 percent. Average daily rate... Read More
Travel Group Asks Treasury for $500 Million Marketing Check

Posted by Alex Finkelstein 07/29/10 2:09 PM

Facing a monumental tourism decline in the Gulf of Mexico's leisure and vacation market, the United States Travel Association is asking the Treasury for $500 million in federal funding to offset the sector's financial losses following the BP oil spill in April. Read More
Achasta, Reynolds Signature Community to Host Major Golf Event

Posted by Scott Kauffman 07/29/10 8:30 AM

(DAHLONEGA, GA) -- A new collegiate match-play style golf tournament featuring 48 schools from all three divisions of the NCAA debuts next month at Achasta, a Reynolds Signature Community one hour north of Atlanta. Read More
U.S. Hotels Report Positive Performance Results for Mid-July

Posted by Michael Gerrity 07/26/10 1:39 PM

According to data from Smith Travel research (STR), the U.S. hotel industry reported increases in all three key performance measurements during the week of July 17, 2010. In year-over-year measurements, the industry's occupancy increased 7.3 percent to 71.0 percent. Read More
Tom Hoch Selected by Petroleum Club of Tulsa to Create Master Plan

Posted by Scott Kauffman 07/23/10 9:30 AM

(OKLAHOMA CITY, OK) -- Tom Hoch - a pioneer in revenue-based design and turn-key, design-build interior architecture solutions -- has been selected by the Petroleum Club of Tulsa to complete a master plan to serve as a catalyst for the 5-star club's future growth, prosperity and overall position as one of the country's great city clubs. Read More
PGA of America Appoints New Golf Properties Director

Posted by Scott Kauffman 07/23/10 9:15 AM

(PALM BEACH GARDENS, FL) -- The PGA of America has named Corey Aurand as its senior Director of PGA Golf Properties, which presently encompasses the facilities at PGA Village St. Lucie, Read More
STR Reports Mid-year U.S. Hotel Market Results

Posted by Michael Gerrity 07/23/10 8:15 AM

According to data from Smith Travel Research (STR), the U.S. hotel industry reported mixed results in the three key performance metrics for the first half of 2010 in year-over-year measurements. Read More
U.S. Hotel Market Continues to Improve in June

Posted by Michael Gerrity 07/22/10 8:00 AM

According to Smith Travel Research (STR), the U.S. hotel industry posted increases in all three key performance measurements during June 2010. Read More
Bonita Bay Club East Offers Unlimited Golf Privileges

Posted by Scott Kauffman 07/19/10 8:00 AM

(BONITA BAY, FL) -- Unlimited golf and an exceptional environmental setting make Bonita Bay East's Passport Program one of this summer's best golf deals. Located in North Naples, the 1,400-acre pure golf facility features two award-winning Tom Fazio-designed championship courses. Read More
U.S. Hotel Construction Drops 28.5% Year-over-year in June 2010

Posted by Michael Gerrity 07/15/10 2:09 PM

According to the June 2010 STR/TWR/Dodge Construction Pipeline Report released this week, the total active U.S. hotel development pipeline comprises 3,387 projects totaling 358,739 rooms. Read More
U.S. Hotel Market Shows Sign of Continued Strengthening

Posted by Michael Gerrity 07/12/10 8:00 AM

According to data from Smith Travel Research, the U.S. hotel industry reported positive results in all three key performance measurements during the first week of July 2010. Read More
LeBron James Excitement Triggers Near Sellout of Miami Heat Season Tickets

Posted by Alex Finkelstein 07/09/10 8:45 AM

While the question of how much greater Miami will benefit economically with the arrival of NBA superstar LeBron James at Miami Heat headquarters is still unknown, one related factor is now known conclusively. Read More
Fractional Ownership Makes Waves in Wisconsin-area Golf Course, Lake

Posted by Scott Kauffman 07/06/10 8:30 AM

(CHICAGO, IL) -- Chicago-area families with an affinity for golf and lake vacations can now enjoy a new Lake Geneva, Wisc., retreat at a fraction of the cost of whole ownership. Read More
Billy Casper Golf to Manage City of Troy (Mich.) Golf Courses

Posted by Scott Kauffman 07/02/10 9:00 AM

(VIENNA, VA) -- Billy Casper Golf has been retained by the City of Troy, Mich., to manage its Sanctuary Lake and Sylvan Glen golf courses. Read More
U.S. Hotels Show Performance Gains This Week

Posted by Michael Gerrity 07/01/10 10:27 AM

According to data released by Smith Travel Research (STR), the U.S. hotel industry achieved increases in all three key performance measurements during the week of June 20th to 26th.In year-over-year measurements, the industry's occupancy last week increased 6.8 percent to... Read More
Whom Do You Believe?

Posted by Peter Yesawich 07/01/10 10:04 AM

One of the most vexing challenges for the marketers of travel services is that of addressing a fundamental dilemma in contemporary marketing practice: it has become more difficult to influence prospective customers as it has become easier to reach them.The... Read More
Newly Renovated Manitou Passage Golf Club Re-Opens

Posted by Scott Kauffman 06/28/10 8:30 AM

(GLEN ARBOR, MI) -- Manitou Passage Golf Club, an Arnold Palmer-designed golf course situated close to Sleeping Bear Dunes National Lakeshore near Leelanau, re-opened for play June 18 after an extensive renovation to the course. Read More
U.S. Hotel Market Posts Positive Performance Gains This Week

Posted by Michael Gerrity 06/25/10 8:30 AM

According to data released by Smith Travel Research (STR), the U.S. hotel industry achieved increases in all three key performance measurements during the week of June 13-19, 2010. Read More
Hale Irwin Celebrates Opening of Lodestone Golf Club

Posted by Scott Kauffman 06/24/10 2:20 PM

(MCHENRY, MD) -- An area of Western Maryland known as the "Lake Tahoe of the Atlantic" recently celebrated the opening of a new 18-hole private golf course called Lodestone Golf Club. Read More
City of Miami Approves Funding for Remediation of Museum Park

Posted by Michael Gerrity 06/24/10 1:42 PM

(MIAMI, FL) - The board of commissioners of the City of Miami Omni Community Redevelopment Agency (Omni CRA) has unanimously approved the release of funds for the environmental remediation of eight acres of Museum Park, Read More
New Harry Potter Attraction Expected to Drive Orlando Hotel Bookings

Posted by Michael Gerrity 06/18/10 8:00 AM

(ORLANDO, FL) -- After five years of planning and development, today Universal Studios Florida officially opens to the public The Wizarding World of Harry Potter. Read More
KemperSports Tapped to Manage Tapatio Springs Resort

Posted by Scott Kauffman 06/15/10 11:56 AM

(BOEME, TX) -- KemperSports, one of the country's leading operators of golf and country club communities around the country, has been picked to manage Tapatio Springs Resort and Conference Center here in Texas Hill Country. Read More
U.S. Hotels Post Mixed Results in Early June

Posted by Michael Gerrity 06/14/10 11:19 AM

According to data from Smith Travel Research (STR), the U.S. hotel industry reported mixed results in the three key performance measurements during the week of May 30 through June 5, 2010.In year-over-year measurements, the industry's occupancy increased 1.0 percent to... Read More
Sternlicht's Starwood Capital Buys Major Stake in Hersha Hospitality

Posted by Alex Finkelstein 06/08/10 9:29 AM

Two of the best-known names in the real estate and hotel industries have married. Starwood Capital Group of Greenwich, CT has purchased a 49.9 percent ownership stake in Philadelphia-based Hersha Hospitality Management. Read More
U.S Hotel Industry Shows Performance Bump in May

Posted by Michael Gerrity 06/07/10 10:53 AM

According to data from Smith Travel Research (STR), the U.S. hotel industry reported increases in all three key performance measurements during the week of 23-29 May 2010. Read More
As Oil Spill Nears Florida Coast, Governor Charlie Crist Expected to Issue Blanket State of Emergency

Posted by Alex Finkelstein 06/03/10 1:35 PM

The Florida Fish and Wildlife Conservation Commission this morning identified the Louisiana oil spill slick six miles from the Navarre Beach fishing pier in Northwest Florida. Read More
Ferrari World in Abu Dhabi Shown to the World on Italian National Day

Posted by Alma Kadragic 06/02/10 1:12 PM

(ABU DHABI, UAE) - On Italy's National Day, what could be better for the Italian Ambassador to the UAE to do than to celebrate with his family at Ferrari World Abu Dhabi, the world's first Ferrari theme park. Read More
Yas Marina Wins Award for Management at International Ceremony

Posted by Alma Kadragic 06/02/10 12:39 PM

(ABU DHABI, UAE) - Yas Marina, part of Aldar Marinas, has received the Innovation and Excellence Award for marina management at the 6th international Beirut Boat Show. Read More
U.S. Hotels Reporting Positive Performance Results

Posted by Michael Gerrity 05/31/10 10:20 AM

According to data from Smith Travel Research, the U.S. hotel industry reported mostly positive results in the three key performance measurements during the week of May 22, 2010.In year-over-year measurements, the industry's occupancy increased 4.0 percent to 61.6 percent. Average... Read More
3 New York City Hedge Funds Buy Extended Stay America for $3.93 Billion

Posted by Alex Finkelstein 05/29/10 8:00 AM

The year-old live-or-die saga of Extended Stay America (ESA) has ended with the Spartanburg, SC hotel chain in the ownership hands today of three major New York City-based hedge funds, according to HotelNewsNow.com.The funds are Centerbridge Partners, L.P., Paulson &... Read More
Is the Gray Cloud About to Pass?

Posted by Peter Yesawich 05/27/10 10:13 AM

The Traveler Sentiment Index from our April travelhorizons survey reveals a significant increase in perceived "money available for travel" (82.4 in April 2010, up from 70.3 in April 2009), suggesting that consumers are now more confident about their personal finances... Read More
BP Oil Hands Florida $25 Million Check for Tourism Promotion

Posted by Alex Finkelstein 05/27/10 8:00 AM

BP Plc (NYSE: BP) has opened its wallet again and given the state of Florida another $25 million check to spend on tourism advertising over the next two to three months. Read More
U.S. Hoteliers Will Grow RevPAR This Year But Bottom Line Will Shrink Again, PKF Forecasts

Posted by Alex Finkelstein 05/25/10 12:00 PM

There is good news and not-so-good news for U.S. hoteliers today. A new industry survey by Atlanta, GA-based PKF Hospitality Research (PKF-HR) finds U.S. hotels should enjoy a 1.7 percent growth in RevPAR in 2010, ... Read More
U.S. Hotel Industry Posts Mixed Results in April

Posted by Michael Gerrity 05/24/10 10:57 AM

According to Smith Travel Research (STR), the U.S. hotel industry posted mixed results in the three key performance measurements during April 2010. Read More
Judge Rules Tribe Doesn't Have to Repay $50 Million Casino Debt

Posted by Alex Finkelstein 05/20/10 4:36 PM

Talk about legal loopholes. An American Indian tribe in Wisconsin found one and now isn't repaying a $50 million casino debt to a California lender. Read More
MGM Mirage, Perini Point Fingers at Each Other in $490 Million CityCenter Lawsuit

Posted by Alex Finkelstein 05/19/10 3:47 PM

The he-said, she-said version of the $490 million civil lawsuit filed in March by Perini Building Co. against Las Vegas-based MGM Mirage is on a new lap. Read More
U.S. Hotels Post Mixed Results in Early May

Posted by Michael Gerrity 05/17/10 9:00 AM

According to data from Smith Travel Research, the U.S. hotel industry reported mixed results in the three key performance measurements during the week of 2-8 May 2010. In year-over-year measurements, Read More
U.S. Hotel 'HIL' Index Shows Growth in March

Posted by Michael Gerrity 05/14/10 1:09 PM

According to economic research firm e-forecasting.com in conjunction with STR, the United States Hotel Industry Leading indicator index (HIL), went up 0.4 percent during March, the second monthly increase after a slight dip in January's reading. Read More
STR Predicts Mixed Hotel Results for Summer 2010 Forecast

Posted by Michael Gerrity 05/13/10 4:59 PM

According to Smith Travel Research's 2010 summer forecast, the U.S. hotel industry should expect to see mixed results in the three key performance metrics this summer travel season that comprises of June, July and August.STR predicts summer occupancy will increase... Read More
Clearview Hotel Trust Plans $375 Million IPO

Posted by Alex Finkelstein 05/13/10 1:34 PM

Sensing a rebound in the lodging industry, Clearview Hotel Trust of Newport Beach, CA has completed a Securities and Exchange Commission filing for an initial public offering of up to $375 million (USD). Read More
U.S. Hotel Construction Pipline Down 31.2% from One Year Ago

Posted by Michael Gerrity 05/12/10 2:31 PM

According to the April 2010 STR/TWR/Dodge Construction Pipeline Report released this week, the total active U.S. hotel development pipeline comprises 3,512 projects totaling 367,080 rooms. This represents a 31.2-percent decrease in the number of rooms in the total active pipeline... Read More
Ritz Carlton Closure; The Latest Saga of Lake Las Vegas Project

Posted by Kevin Brass 05/11/10 1:52 PM

The Ritz Carlton in Lake Las Vegas closed this past week, officially ending the latest chapter in one of the most ambitious, high-profile developments in the country. The plan was to create an ultra-luxury, 3,600-acre resort and housing development, Read More
Bidding War for 680 Bankrupt Extended Stay Hotels Nears Deadline with Starwood's Sternlicht in the Lead

Posted by Alex Finkelstein 05/10/10 4:21 PM

Compared to the $2 million Kentucky Derby purse, this horse race featuring some of the nation's biggest real estate speculators and a potential $2.2 billion investment pot is too tough to call. Read More
Five Nashville Hotel Properties Affected by Flood Reopen

Posted by Michael Gerrity 05/10/10 11:07 AM

According to Smith Travel Research, five of the seven hotels in the Nashville, Tennessee, area that were affected by the recent flooding, have reopened. The seven properties that were closed by the flooding this week include 3,920 guestrooms, Read More
U.S. Hotels Still Posting Mixed Results, Says STR

Posted by Michael Gerrity 05/07/10 4:30 PM

According to the latest data from Smith Travel Research (STR), the U.S. hotel industry reported mixed results in the three key performance measurements during the week of 25 April-1 May 2010.In year-over-year measurements, the industry's occupancy increased 5.7 percent to... Read More
MGM Mirage's CEO Upbeat Despite Weak First Quarter

Posted by Alex Finkelstein 05/06/10 4:07 PM

MGM MIRAGE (NYSE: MGM) today announced its financial results for the first quarter of 2010 and they were far from exhilarating. In a prepared statement, Mirage chairman and CEO Jim Murren says that as previously reported, Read More
Gaylord Opryland Hit Hardest in Tennessee Floods; Governor Asks Obama for Disaster Relief

Posted by Alex Finkelstein 05/05/10 8:00 AM

Nashville is bouncing back today after treacherous weekend storms and floods caused millions in commercial property damage and the deaths of at least 29 persons in Tennessee, Kentucky and Mississippi, ... Read More
Times Square Bomb Scare, Floods Empty Hotel Rooms in New York and Nashville

Posted by Alex Finkelstein 05/03/10 3:45 PM

A mysterious smoking but undetonated crudely-constructed car bomb found by police in a van parked near the 1,892-room New York Marriott Marquis hotel in Times Square Saturday (May 2) forced hotel officials to move about 900 guests ... Read More
U.S. Hotel Occupancy Rates at 60.7% in April, says STR

Posted by Michael Gerrity 05/03/10 11:39 AM

According to data from STR, the U.S. hotel industry reported mixed results in the three key performance measurements during the week of 18-24 April 2010.In year-over-year measurements, the industry's occupancy increased 2.4 percent to 60.7 percent. Average daily rate dropped... Read More
Gulf Oil Spill Threatens Alabama, Mississippi and Florida's $65 Billion Dollar Tourism Machine

Posted by Alex Finkelstein 05/03/10 8:00 AM

The Louisiana oil spill is in its 13th day of destructive momentum. No relief is in sight. The spill is 100 miles long by 48 miles wide. Read More
Luxury Living

Posted by Scott Kauffman 04/29/10 5:20 PM

(PANAMA CITY, PANAMA) -- In preparation for its grand opening, Trump Ocean Club International Hotel & Tower Panama commissioned Miami based furniture designer Adriana Hoyos to develop various design concepts for the residential portion of the development. Read More
Are Staycations Here to Stay?

Posted by Peter Yesawich 04/29/10 11:45 AM

One of the presumed consequences of the Great Recession has been the emergence of a new form of leisure travel called a "staycation," or the propensity of individuals to select a vacation destination closer to home as an alternative to traveling to a more distant destination, presumably as a result of budgetary constraints at the household level. Read More
Miami's Iconic Architecture Provides Backdrop for AIA's 2010 National Convention

Posted by Michael Gerrity 04/27/10 1:40 PM

As a major urban center perched between vast natural ecosystems, Miami is known for a strikingly diverse built environment that is barely 100 years old. Within this brief span, the city has constantly reinvented itself, ... Read More
The Latest in Luxury Resort & Real Estate News

Posted by Scott Kauffman 04/27/10 9:25 AM

(BEND, OR) -- Pronghorn, a highly acclaimed upscale 36-hole private golf resort community, will soon be adding another jewel to its development with the opening of the Tour Academy. Read More
Global Hotel Market Slowly Improving; Dealing with Sluggish World Economies

Posted by Michael Gerrity 04/23/10 3:25 PM

According to the latest data compiled by Smith Travel Research (STR) and STR Global, hotel performance in most markets is slowly improving, but still dealing with sluggish global economic conditions. Read More
U.S. Hotels' Performance Index Up This Week, Says STR

Posted by Michael Gerrity 04/23/10 2:04 PM

According to the latest data from Smith Travel Research (STR), the U.S. hotel industry reported increases in all three key performance measurements during the week of 11-17 April 2010.In year-over-year measurements, the industry's occupancy increased 5.5 percent to 60.4 percent.... Read More
U.S. Hotel Sector Posts Mixed Performance Results in Q1, Says STR

Posted by Michael Gerrity 04/22/10 2:09 PM

According to data from Smith Travel Research (STR), the U.S. hotel industry reported mixed results in the three key performance metrics for first-quarter 2010 in year-over-year measurements.The industry's occupancy was up 2.3 percent to 51.9 percent, average daily rate fell... Read More
U.S. Hotel Market Sending Mixed Performance Signals, Again

Posted by Michael Gerrity 04/21/10 12:33 PM

According to data from Smith Travel Research (STR), the U.S. hotel industry posted mixed results in the three key performance measurements during March 2010. In year-over-year measurements, the industry's occupancy was up 5.9 percent to 57.9 percent. Read More
Starwood Sells Two 'W' Hotels in NYC for $78M But Will Still Grow the Brand Worldwide

Posted by Alex Finkelstein 04/19/10 4:00 PM

Without alluding to its fourth-quarter 2009 total net income loss of $107 million, Starwood Hotels & Resorts Worldwide Inc. (NYSE: HOT) announced it has completed the sale of two trophy W brand hotels in New York City for $78 million. Read More
U.S. Hotel Sector Still Showing Mixed Results

Posted by Michael Gerrity 04/19/10 2:00 PM

According to the latest data from Smith Travel Research (STR), the U.S. hotel industry reported mixed results in the three key performance measurements during the week of 4-10 April 2010.In year-over-year measurements, the industry's occupancy increased 12.6 percent increase to... Read More
Fractional Vacation Market Declined 44% in 2009

Posted by Kevin Brass 04/16/10 10:30 AM

According to conventional wisdom, the fractional model would benefit in the market downturn, as buyers looked for less expensive ways to buy property.Instead, fractional sales in North America dropped 44 percent in 2009, according to industry analyst Dick Ragatz. While... Read More
U.S. Hotel Construction Pipeline Drops 35.7% in March

Posted by Michael Gerrity 04/14/10 2:10 PM

According to the March 2010 STR/TWR/Dodge Construction Pipeline Report released this week, the total active U.S. hotel development pipeline comprises 3,399 projects totaling 354,538 rooms. This represents a 35.7-percent decrease in the number of rooms in the total active pipeline compared to March 2009. Read More
U.S. Hotel Industry Reports Declines This Week in Three Primary Performance Indexes

Posted by Michael Gerrity 04/12/10 11:02 AM

According to new data from Smith Travel Research (STR), the U.S. hotel industry reported decreases in all three key performance measurements during the week of 28 March-3 April 2010.In year-over-year measurements, the industry's occupancy ended the week with a 3.6-percent... Read More
U.S. HOTEL MARKET ROUNDUP

Posted by Alex Finkelstein 04/09/10 8:00 AM

Despite a lingering three-year Recession, nearly 100 hotels are scheduled to open in the U.S. this year. New York City, with 46 properties, leads the list for new lodging locations. Houston is next with 30. ""Hotel building cycles rarely mesh just right with economic cycles," Smith Travel Research president Mark Lomanno told ... Read More
W Hotels Announces First Luxury Retreat in Southeast Asia

Posted by Michael Gerrity 04/06/10 3:55 PM

W Hotels Worldwide has announced that W Retreat - Koh Samui, the first W Retreat in Southeast Asia, will open in summer 2010. It is an all-villa beachfront resort that will be a sublime architectural tribute to Maenam Beach on Samui Island's pristine northern coastline; W Koh Samui will offer an 'escape within an escape.' Read More
What NAR's Vacation Home Buyers Report Really Meant

Posted by Kevin Brass 04/06/10 8:00 AM

Most of the coverage of the National Association of Realtors' latest vacation home study focused on the modest increase in the number of sales from 2008 to 2009. And certainly it was good news that 7.9 percent more vacation homes were sold in the U.S., even though any comparison to 2008, the Pit of Darkness, is largely irrelevant. Read More
U.S. Hotel Market Still Sending Mixed Signals, Says STR

Posted by Michael Gerrity 04/02/10 10:00 AM

According to data from Smith Travel Research, the U.S. hotel industry reported mixed results in the three key performance measurements during the week of 21-27 March 2010. In year-over-year measurements, the industry's occupancy ended the week with a 5.9-percent increase to 59.9 percent. Read More
GLOBAL HOTEL MARKET ROUNDUP

Posted by Alex Finkelstein 04/01/10 8:00 AM

Gil Blutrich, the undisputed Donald Trump of Toronto, has done it again. The Israeli-born developer-investor and his chief Canadian partner, Michael Copper, paid $48 million or $161,074 per room for the 107-year-old, 298-room King Edward Hotel at King and Victoria Streets in Downtown Toronto. Read More
U.S. Hotel Investment Volume Proves Strong in First Quarter

Posted by Alex Finkelstein 03/31/10 4:54 PM

There is encouraging news today in the hotel investment sector. The deal volume is increasing. New York City, NY-based Jones Lang LaSalle Hotels reports $1 billion in hotel real estate has transacted in the Americas region during first quarter 2010, representing 29 percent of the firm's full year forecast of $3.5 billion. Read More
Sold, In a Flash

Posted by Peter Yesawich 03/31/10 2:50 PM

(ORLANDO, FL) -- One of the more controversial marketing techniques to emerge from the challenging business climate that prevailed last year is "flash selling," or the blasting of time-dated offers to targeted prospects via email. Read More
NAR Reports Vacation-Home Sales Up in 2009, Investment Sales Fall Sharply

Posted by NATIONAL ASSOCIATION OF REALTORS 03/31/10 10:08 AM

(WASHINGTON, DC) -- Vacation-home sales recovered in 2009 while investment sales fell sharply, according to the National Association of Realtors. NAR's 2010 Investment and Vacation Home Buyers Survey, covering existing- and new-home transactions in 2009, ... Read More
US Hotel Market Posts Mixed Results This Week

Posted by Michael Gerrity 03/29/10 11:26 AM

According to data from Smith Travel Research (STR), the U.S. hotel industry reported mixed results in the three key performance measurements during the week of 14-20 March 2010.In year-over-year measurements, the industry's occupancy ended the week with a 5.2-percent increase... Read More
Luxury Off-Downtown Miami Condo Tower Faces Record $216M Foreclosure

Posted by Alex Finkelstein 03/29/10 9:00 AM

The 47-story, 346-unit luxury Paramount on the Bay condominium community isn't even finished and the lender is already at the front door with a foreclosure notice. If the foreclosure is approved by the court, it would be one of the largest of its kind to date in South Florida Read More
U.S. Hotel Market Continues to Send Mixed Signals in February

Posted by Michael Gerrity 03/23/10 2:53 PM

Mark Lomanno According to the latest data from Smith Travel Research (STR), the U.S. hotel industry posted mixed results in the three key performance measurements during February 2010.In year-over-year measurements, the industry's occupancy ended the month virtually flat with a... Read More
Orlando Timeshare Developer Selling $353 Million in None-Core Assets

Posted by Alex Finkelstein 03/18/10 4:15 PM

(ORLANDO, FL) -- Harsh economic times have even caught up with Orlando billionaire timeshare developer David A. Siegel. The 78-year-old founder and chairman of 40-year-old, Orlando-based Central Florida Investments Inc. has retained global-oriented Carlton Advisory Services Inc. of New York... Read More
U.S Hotel Construction Pipeline Drops 35.9% from One Year Ago

Posted by Michael Gerrity 03/18/10 10:54 AM

(HENDERSONVILLE, TN) -- The total active U.S. hotel development pipeline includes 3,551 projects comprising 368,740 rooms, according to the February 2010 STR/TWR/Dodge Construction Pipeline Report released last week. Read More
New Jersey Gaming Cops Approve MGM Deal to Sell Interest in Atlantic City Casino; Company Closes $845 Million Bond Offering

Posted by Alex Finkelstein 03/17/10 3:03 PM

(LAS VEGAS, NV) -- MGM Mirage is breathing better today. The New Jersey Casino Control Commission (CCC) approved the settlement agreement between the company and the New Jersey Division of Gaming Enforcement (DGE) ... Read More
Perini Threatens MGM Mirage with $492 Million Lawsuit on Unfinished Las Vegas CityCenter Hotel Project

Posted by Alex Finkelstein 03/16/10 2:20 PM

(LAS VEGAS, NV) -- Perini Building Co., one of the oldest and largest hospitality and gaming general contractors in the U.S., has threatened Las Vegas-based MGM Mirage with a $492 million lawsuit ... Read More
Unknown Bidder Pays $25.9 Million for 165 Unsold Condos and Retail Space at The Vue in Downtown Orlando

Posted by Alex Finkelstein 03/15/10 2:10 PM

(ORLANDO, FL) -- Condo Developers LLC today beat out Greenwich, CT-based Starwood Capital and Orlando, FL-based Tavistock Group with a bid of $25.9 million for 165 unsold luxury condominiums and 7,972 square feet of vacant ground-floor retail space Read More
U.S. Hotel Industry Posts Mixed Results in Early March

Posted by Michael Gerrity 03/15/10 11:24 AM

(HENDERSONVILLE, TN) -- According to data from Smith Travel Research (STR), the U.S. hotel industry reported mixed results in the three key performance measurements during the week of February 28th through March 6th 2010. Read More
Tavistock Group Offers $21 Million for 165 Unsold Condos and Retail Space at The Vue in Downtown Orlando

Posted by Alex Finkelstein 03/15/10 9:00 AM

(ORLANDO, FL) -- Tavistock Group, an Orlando-based investment and development organization funded by London-born billionaire Joe Lewis, knows a bargain when it sees one. Read More
Vegas Casino Operators Pitch Florida's Cash-Strapped Lawmakers but Get No Positive Signals

Posted by Alex Finkelstein 03/15/10 8:00 AM

(TALLAHASSEE, FL) -- Hello, Mickey and Minnie - you can continue to sleep tight for probably another 100 years. Florida isn't ready to allow Las Vegas-style casino gambling in the state just yet. It hasn't been for 444 years, not since St. Augustine was founded in 1566. Read More
MGM Mirage Mortgaging Two Casinos to Raise $845 Million

Posted by Alex Finkelstein 03/09/10 2:27 PM

(LAS VEGAS, NV) -- MGM Mirage (NYSE:MGM) today announced plans to offer up to $845 million in aggregate principal amount of senior secured notes due 2020 in a private placement. The company plans to use the net proceeds from the offering ... Read More
U.S. Hotel Performance Shows Mixed Results in February

Posted by Michael Gerrity 03/08/10 4:01 PM

(HENDERSONVILLE, TN) -- According to data from STR, the U.S. hotel industry reported mixed results in the three key performance measurements during the week of 21-27 February 2010.In year-over-year measurements, the industry's occupancy ended the week with a 2.5-percent increase... Read More
U.S. Hotels' HIL Index Dips in January

Posted by Michael Gerrity 03/05/10 10:04 AM

(DURHAM, NH) -- According to e-forecasting.com, in conjunction with Smith Travel Research, the U.S. Hotel Industry Leading Indicator-HIL-edged down 0.2 percent in January, the first monthly decrease after nine consecutive months of increases for the indicator. HIL went up 1.4... Read More
LaSalle Pays Almost a Half Million Per Room for Sofitel Hotel in Washington DC

Posted by Alex Finkelstein 03/02/10 4:47 PM

Sofitel Washington DC LaFayette Square Hotel (WASHINGTON, DC) -- If it wasn't the highest-priced-per-room-deal this year, then LaSalle Hotel Properties' $95 million acquisition announced today was surely the second priciest, local hospitality brokers tell Real Estate Channel.LaSalle paid $400,843 per... Read More
Starwood Names Minneapolis Hotelier Developer of the Year

Posted by Alex Finkelstein 03/01/10 4:18 PM

Le Meridien Chambers Hotel, Minneapolis (MINNEAPOLIS, MN) -- Ralph Burnet, a prominent Minneapolis hotelier, art collector and civic philanthropist, is Starwood's Developer of the Year for 2009.Starwood Hotels & Resorts Worldwide (NYSE:HOT) cited Burnet and his company, RWB Development, for... Read More
Timeshare Survey Shows Exchange Availability and High Maintenance Fees at Top of Owners' Complaint List

Posted by Alex Finkelstein 03/01/10 10:00 AM

(SEATTLE, WA) -- Exchange availability and high maintenance fees are at the top of timeshare owners' complaint lists, according to a new survey by Seattle, WA-based RedWeek.com. After timeshare exchange problems and rising annual maintenance fees, survey respondents said... Read More