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Proposed Hotel on Lake Flower Near Sarnac Lake, NY Begins Village Review

December 5, 2013

Dec. 05--SARANAC LAKE -- Proposed construction of a waterfront hotel here is proceeding to review as a Planned Unit Development District. Malone hotel developer and Realtor Chris LaBarge delivered illustrations of the project to the Village Planning Board on Tuesday, complying with the initial review phase. "We submitted an application under the Planned Unit District Development (PUDD). What that does is allow us to request a zone change for specific uses of the property," LaBarge told the Press-Republican on Wednesday. NON-COMPLIANCE "In particular, we are looking at two major items that don't comply with current zoning. "First is the

Shivam Hospitality Group, Developer of Planned Holiday Inn Express in Decatur, AL, Eyes 2nd Hotel

December 5, 2013

Dec. 05--The developer of a planned 83-room Holiday Inn Express on Beltline Road Southwest at Old Moulton Road said Wednesday he might build a second hotel near the same location if the first one performs well. Dinesh Patel, a partner in Tennessee-based Shivam Hospitality Group, said a $95,000 incentive approved by the Decatur City Council after a contentious debate Tuesday was not critical to his location in Decatur, but it was important. The council approved the incentive with three affirmative votes. Charles Kirby voted against it and Billy Jackson abstained. "It depends on the performance of the Holiday Inn Express, what kind of occ

2013 Construction Report North America; 23 Hotel Waterpark Projects Open in 2013

Jeff Coy | December 4, 2013

By Jeff Coy, ISHC December 6, 2013 --- Twenty-three (23) waterpark resort projects opened in the USA during 2013, a 8.0% increase over last year. This compares with 20 in 2012, 27 in 2011 and the record high of 40 in 2007. Thirteen (13) projects were brand names such as Hyatt, Marriott, Great Wolf, Wet 'n Wild, Carnival Cruise and Norwegian Cruise Lines, and 10 projects were independent owner projects. Fourteen (14) projects were new openings, and 9 were expansions of existing properties. While money is just beginning to loosen up for hotel developers, new hotel construction is still rather flat, but resort acquisitions and expansions a

Judy Rodgers: San Francisco’s Zuni Cafe Chef Who Helped Shape U.S. Cuisine, Dies at Age 57

December 4, 2013

Dec. 04--Judy Rodgers, chef and co-owner of the famed Zuni Cafe, and a visionary who helped define San Francisco cuisine, died Monday night after a yearlong battle with cancer of the appendix. She was 57. Renowned as one of the most influential American chefs of her time, Ms. Rodgers proved through her rustic, urban fare that food could be sophisticated without being fussy. A revered mentor and teacher, she inspired chefs around the country with her ingredient-driven style and pioneering techniques. "She was a force to be reckoned with," said Gayle Pirie, the chef and co-owner of Foreign Cinema in the Mission District, who worked under

Ravages of War: Lonely Trio Struggle to Keep 140 Year-Old Hotel Palmyra in Baalbek, Lebanon Alive

December 4, 2013

Dec. 04--BAALBEK, Lebanon -- Located directly across the street from the ruins at Baalbek, the Hotel Palmyra owes its existence and success to the site's ability to attract tourists. A list of its foreign visitors would include French Gen. Charles de Gaulle, German Kaiser Wilhelm II and Albert Einstein. Lebanese icons, such as Fairuz and Sabah, were known to frequent the renowned hotel in the '60s during the popular Baalbeck Festival. "It was the best hotel in Baalbek at the time," Ghassan Karaa, the current manager of the Palmyra, says from his spacious office off the grand entrance hall, with a desk that features the building's sole p

Report Shows Midland-Odessa, Texas Region Hotels Catching Up to Demand Due to Recent Building Surge

December 4, 2013

Dec. 04--Nightly hotel rates as high as $300 have drawn national attention to Odessa and Midland as another sign of the area's booming oil economy. But a surge in building might lessen the strain on hotel guests in the coming year, bringing more available and somewhat less expensive rooms, according to Amarillo economist Karr Ingham, who recently reported the finding as part of his Midland-Odessa Regional Economic Index. Midland and hotel tax collections in October represented a year-over-year decline for the first time since 2010, Ingham reported. But local hoteliers had already noticed the change. "It's just not what it was a year ago

Lender Wins Bid for Shuttered Eau Claire, Wisconsin Hotel and Convention Center with $1.45 Million

December 4, 2013

Dec. 04--After two previous foreclosure sales fell through, a Minneapolis lending firm cast the only and winning $1.45 million bid Tuesday in the third auction this year of a downtown Eau Claire hotel and convention center. Dougherty Funding of Minneapolis -- the firm that loaned Singh Brothers Hotel Management $1.75 million in 2004 to buy the Ramada Convention Center, 205 S. Barstow St. -- will be able to sell or operate the hotel following payment of its winning bid. "It gives them the flexibility to do something themselves or work with somebody direct," said Mike Schatz, executive director of Downtown Eau Claire Inc. Eau Claire attor

Lodging Loans Continue to Lead Improvement in CMBS Performance

December 3, 2013

Dec. 03--Past due payments on securitized commercial real estate loans tumbled last month, with late payments on hotel loans improving the most. The 30-day delinquency rate on loans included in commercial mortgage-backed securities was 7.66 percent in November, according to monthly data from Trepp LLC. CMBS delinquency declined 32 basis points from the previous month. Compared to the same month in 2012, the past-due rate has plunged 205 BPS. Last month's rate of late payments was the lowest CMBS delinquency rate since at least 2010. While $2 billion in CRE loans became newly delinquent, around $2.2 billion in delinquent loans were cured







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