Property Types Hospitality
While Hotel Investment Activity Languishes in the U.S., Market Remains Viable in Brazil
June 10, 2009
Plagued by the global recession that has slashed both business and pleasure travel, the hotel market is suffering on an international level and investors have backed away from buying or building in most locations, with a few exceptions--like Brazil. According to a new report by real estate services firm Jones Lang LaSalle Hotels, the positive long-term growth forecast for Brazil is popping up on the radar of those who are in the position to invest.
While Hotel Investment Activity Languishes in the U.S., Market Remains Viable in Brazil
June 09, 2009
Plagued by the global recession that has slashed both business and pleasure travel, the hotel market is suffering on an international level and investors have backed away from buying or building in most locations, with a few exceptions--like Brazil. According to a new report by real estate services firm Jones Lang LaSalle Hotels, the positive long-term growth forecast for Brazil is popping up on the radar of those who are in the position to invest.
Amid Troubled Hotel Sector, Companies Look to Boost Management Portfolios
June 05, 2009
Many hotel owners are looking at a troubling two years or so, as a large portion of their loans are coming due for refinancing in an environment of declining RevPar. In other words, many owners will be asked by lenders to contribute more equity into their loans, just when that money may be very hard to come by.
Steadfast Launches New Securities Division to Capitalize on Anticipated CRE Opportunities
June 02, 2009
With an eye on the impending onslaught of maturing debt in the real estate marketplace, Steadfast Cos. has just kicked off Steadfast Capital Markets Group L.L.C., a new securities and financial services division. The Newport Beach, Calif.-based diversified real estate investment concern's new division will give investors the opportunity to join forces with the company and take advantage of the increasing opportunities presented by the existing real estate cycle.
Global Hotel Slump Persists: Report
May 29, 2009
Hotel performance results for April, released this week by Smith Travel Research, illustrated the global nature of the economic downturn, with all four major regions--the Americas, Europe, Asia/Pacific and Middle East/Africa--showing double-digit percentage decreases in occupancy and RevPAR.
The News: SARS May Provide Guidance on Swine Flu
May 26, 2009
The impact of the Swine flu epidemic on the hotel sector may be too early to gauge, but a recent report by HVS Hospitality Services, authored by Ann Lloyd-Jones, looks back at the severe toll the SARS epidemic had on the Canadian, and more specifically Toronto’s, lodging market.
The Expert: Hotel Buyers Gear Up
May 26, 2009
Economic strain is weighing down hotel markets worldwide, and volatility in the financial markets persists. Jones Lang LaSalle Hotels recently conducted its biannual Hotel Investor Sentiment Survey, revealing that investors’ six-month, short-term trading performance expectations across the Americas have decreased further and that investors are more pessimistic than following Sept. 11, 2001. However, the rate of decline has slowed.
Sunstone Hotel Sells Marriott Napa for $36M
May 20, 2009
Sunstone Hotel Investors Inc. announced the sale of the 274-room Marriott located in Napa, Calif., for $36 million. Sunstone estimates that the property would require approximately $6 million in near-term renovation expenditures to comply with Marriott brand standards.
Timing, Tenancy May Be Key for Proposed WTC Hotel
May 14, 2009
With the recession suppressing the need for office space in New York City, planners at the World Trade Center site could be calling an audible. The Port Authority of New York and New Jersey is now looking at building a luxury hotel and residential building to replace one of the planned office towers.
JLL Study: RevPAR to Spring Back by 2013
May 13, 2009
Hospitality has been among the most hard-hit sectors during the commercial property industry’s current slump. But according to a pair of new reports, a bounce back is only a few years away.
The News: Infrastructure Upgrades to Boost Bahrain
May 12, 2009
The Middle Eastern Kingdom of Bahrain, an archipelago of 33 islands situated in the Persian Gulf wants to reduce its reliance on oil revenues and is looking at tourism as an important way to diversify its economy.
The Expert: Communication Is Key
May 12, 2009
There’s no doubt that our country is experiencing very difficult economic times, and hotel performance generally reflects the downturn. When it comes to evaluating how well a hotel has performed compared to prior forecasts and expectations, many hotel owners face the same reoccurring discussions month after month.
Greenbrier Finds New Owner
May 08, 2009
The Greenbrier resort, which filed for bankruptcy earlier this year, has been acquired by the Justice Family Group, a firm operated by West Virginia businessman Jim Justice.
Michigan Casino Wins Government Approval
May 07, 2009
Resort and casino developer Rotate Black Inc. and the Seneca Nation's Seneca Catskills Gaming Corp. have received approval from the Sullivan County, Mich., legislature, to develop a Class III gaming casino.
Global Hotel Transactions Hit 7-Year Low in Q1, but Change is Afoot
May 07, 2009
In the first three months of the year, the worldwide economic crisis dealt its biggest blow yet to the hotel investment industry. As per recently released research by Jones Lang LaSalle Hotels, global transaction volumes fell from a fourth quarter 2008 figure of $2.1 billion to an even more conservative $1.9 billion, the lowest point since the 9/11-induced downturn during the first quarter of 2002. However, signs indicate that the market may very well have reached a bottom.
Westin Names London VP, Global Brand Leader as Brush to Retire
May 05, 2009
Sue Brush, a 30-year veteran of Westin Westin Hotels & Resorts and its parent company Starwood Hotels & Resorts Worldwide Inc., will retire from her role as Westin's senior vice president and global brand leader as of December 31, 2009.
Hampton Inn & Suites Breaks Ground in Riverside
May 05, 2009
The 132-room Hampton Inn & Suites has broken ground at Turner Development Corp.’s Turner Riverwalk, a one million-square-foot master planned business park in Riverside, Calif.
Some Good News for Struggling Vegas Development Market as CityCenter Clears Hurdle
May 01, 2009
Las Vegas’ struggling development market is breathing a bit easier, now that co-developers MGM Mirage and Dubai World have buried the hatchet over the massive CityCenter mixed-use project there. The $8.5 billion development looks to be on its way to completion now that the developers have agreed to a deal with lenders for the financing of the remainder of construction.
Economic Update - Sublease, Shadow Space Vex Office Owners
April 30, 2009
Office landlords have a lot on their minds these days. As companies contract, demand for space drops, and landlords are being pressured to lower rents--which no one wants to do--or increase incentives for tenants to stay, which is only a little more palatable. Sublease space, which bothered office property owners in the early 2000s, has also returned.
LaQuinta Sees Potential for Overseas Expansion
April 30, 2009
While the hospitality sector downturn has forced many firms to put expansion plans on the back burner, LaQuinta Inns & Suites is not one of them. The company opened 11 hotels in seven U.S. states, and added more than 800 rooms in the first quarter of this year. The select service brand, which had 719 hotels and 75,000 rooms open at the close of the quarter, is aggressively targeting growth opportunities in foreign markets, particularly in Central and South America.
The News: Hotel Veteran Sees Darkening Picture for Lodging Industry
April 28, 2009
Lou Plasencia, president & CEO of hotel brokerage and consulting firm Plasencia Group stated that the lodging market is the worst in 25 years, calling the industry’s recent performance “deplorable.” Many institutional lenders like banks and insurance companies that have hotel loans on their books have lodging assets in their portfolios that have suffered severe declines in net operating income, which will likely translate to an increased number of foreclosures.
The Only Commercial Real Estate Magazine to Top the Competition
The commercial real estate industry is constantly changing Stay informed with applicable industry information. Read about the latest hospitality sector trends at CPN, the leading magazine for the commercial real estate industry.
|
