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Middletown, Ohio Considers Purchase Offers for City-Owned Manchester Inn & Weatherwax Golf Course
February 3, 2014
Feb. 03--MIDDLETOWN -- The future of the Manchester Inn & Conference Center and Weatherwax Golf Course could be decided at tonight's Middletown City Council meeting. The sale of both city-owned properties is on the agenda and council members said they anticipate "good discussion," said Lawrence Mulligan Jr., the city's mayor. The city received two offers to purchase the Manchester Inn for $1. The 91-year-old hotel was purchased by the city in 2011 for $175,000 and officials were asking for a sale price of $325,000. The proposals were submitted by investment groups, Historic Middletown Developers LLC, which includes a five-person dev
Fifteen Years in the Making, Ground-breaking Set for 73-key Hampton Inn in Brigham City, Utah
February 3, 2014
Feb. 03--BRIGHAM CITY -- A second big step comes this week for the city's plans 15 years in the making for the downtown hub. Ground-breaking is set Thursday for the Hampton Inn hotel, meant to anchor the emerging Academy Square, landmark seat of government in Box Elder County. It was 15 years ago "things got serious" in developing Academy Square, City Manager Bruce Leonard said. "But it's been in people's minds for quite a while," he said, possibly all the way back to the 1970s when a car dealership was replaced by the current City Hall. The old city hall became the Chamber of Commerce, both now the western face of Academy Square. Culmi
Luxury Hotels & the Not So Free Wi-Fi; What About Mobile Phone Check-In? Are the Trends Changing?
February 3, 2014
Feb. 03--In most luxury hotels, if you want wireless Internet access, you are going to have to pay. That trend may be changing. Sort of. Loews Hotels & Resorts announced last month that it will offer free Wi-Fi at all 18 of its hotels, including the ones in Hollywood, Santa Monica and San Diego. If you want faster Internet to connect up to eight devices, however, that will cost $19.95 per day. In the past, many luxury hotels offered only one choice: Wi-Fi at a hefty price. Previously, Loews charged about $15 to $20 per day for the slower Internet that it now offers free of charge. A survey by the American Hotel and Lodging Assn. fou
Former Radisson Hotel Site in St. Lucie County, Florida Sold to Las Vegas Billionaire, Phil Ruffin
February 3, 2014
Feb. 03--ST. LUCIE COUNTY -- A Las Vegas billionaire has purchased the site of the former Radisson Hotel on North Hutchinson Island. On Dec. 11, Ruffin Properties LLC of Wichita, Kan., purchased the 11.78-acre beachfront property at the corner of State Road A1A and Shorewinds Drive for $6 million from Greenwood Development Corp. of Florida Inc., according to records from the St. Lucie County Property Appraiser's Office. The limited-liability company is owned by Phil Ruffin of Las Vegas, owner of Treasure Island Hotel and Casino on the Vegas Strip. Ruffin couldn't be reached for comment Monday to discuss his plans for the property. The s
Brighter Days Ahead for Atlantic City’s Historic Madison House; New Owner Re-Opens as Baymont Brand
February 2, 2014
Feb. 02--Atlantic City's neon-splashed skyline will shine a bit brighter when the iconic sign atop the Madison House hotel is relit, symbolizing the revival of one of the most historic buildings in town. The sign, spelling out "Madison Hotel" in giant, red letters, has been dark while the 14-story landmark remained shuttered for the past seven years and attempts were made to sell it. A new owner quietly reopened the Madison on Jan. 25, but the real celebration will come when the sign -- still awaiting final repairs to fix the broken lights -- is illuminated again to welcome guests. "We're going to keep the Madison House name," said Nish
Hospitality Funding, LLC Advises on Purchase of Hilton Phoenix Airport Hotel
Hospitality Funding, LLC | February 1, 2014
Palm Beach, FL — Hospitality Funding, LLC has raised an equity Joint Venture for the acquisition of the 257-key Hilton Phoenix Airport Hotel in Phoenix, Arizona. The property has been acquired by a leading hospitality asset management firm and a US-based investment management company. When assessing the transaction, Hospitality Funding considered the following: ● The hotel is located within the Phoenix Sky Harbor Airport submarket, and adjacent to downtown Tempe, home to Arizona State University, as well as great restaurants, shopping and nightlife. ● The hotel is ideally located for easy access to downtown Phoenix, Arizona State
Albany Lodging Group, an Affiliate of Visions Hotels, Acquires 74 State Hotel in Albany, NY
February 1, 2014
Feb. 01--ALBANY -- 74 State, the boutique hotel that opened in 2007 to great fanfare as a sign of the resurgence of downtown Albany, has new owners after years of limbo. It will be run as a "limited service" hotel -- without food or beverage service. The hotel's restaurant, Bistro/Bar at 74, has closed. "It's under new management, and unfortunately, they phased that out," one employee said Friday. Visions Hotels, a hotel management and development company based in Corning that owns about 20 upstate hotels, will manage 74 State, which has been acquired by an affiliate company called Albany Lodging Group LLC. Rakesh Patel, vice president
Former Hotel Developer, Robert Falor, Sentenced to Six-Years for Evading $1.7 million in Taxes
February 1, 2014
Feb. 01--A former Chicago real estate developer who converted hotels in Chicago, Miami Beach and other cities into condominium-hotels has been sentenced to six years in prison after pleading guilty last year on federal tax evasion charges, prosecutors said. Robert D. Falor, 48, pleaded guilty in May to failing to pay more than $1.75 million in taxes between 2004 and 2007. U.S. District Judge Virginia Kendall said in a hearing today that Falor was "a one-man financial crime wave," according to a news release from the U.S. attorney's office. His brother and father also were part of the scam, however, prosecutors say. Falor, who lives in C