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Greensboro, NC’s O.Henry Hotel Added to Southern Living Hotel Collection; Undergoing Renovations
November 12, 2013
Nov. 12--GREENSBORO -- The O.Henry Hotel has been selected to join the Southern Living Hotel Collection a week before it celebrates 15 years at its new location, according to The Business Journal. The hotel is currently going through a $2 million renovation that will transform former administrative office space into a paneled event space called the Palmer Room, which will provide private dining or meeting space for up to 22 people, as well as converting a former business center into a new lower-level lobby, according to the report. The hotel operated in downtown Greensboro from 1919 to 1979 before moving into the building at 624 Green V
Atlantic Club Casino in Atlantic City, New Jersey Seeks Chapter 11 Protection
November 12, 2013
Nov. 12--The Atlantic Club Casino Hotel _ the only one of Atlantic City's 12 casinos to experience an increase in revenue in September _ announced Thursday that it has filed for Chapter 11 protection in U.S. Bankruptcy Court. The casino released a statement saying that the filing was necessary "to facilitate an expedited sale while the property continues to operate in the ordinary course of business." The Atlantic Club, which opened in 1980 as the Golden Nugget and later became the Atlantic City Hilton, has produced better revenue numbers than its competitors in the past year as it rebranded itself as the go-to destination for locals an
Ambitious Project Eyed for Realtor Building on Chicago’s Mag Mile Including High-End Hotel
November 12, 2013
Nov. 12--A key parcel on the south end of Chicago's Magnificent Mile appears headed for redevelopment in an ambitious project that would include a high-end hotel, condominiums, offices and stores between North Michigan Avenue and Wabash Avenue. The National Association of Realtors' board of directors unanimously voted Monday to move forward with a preliminary plan to replace the group's headquarters building, 430 N. Michigan Ave., and space to the west with 1 million to 2 million square feet of building and plaza space, confirmed Stephanie Singer, a spokeswoman for the association. The project would turn the building "into a world-class
Hawaii’s Hotel Industry on Track to Set Annual Revenue Record; Revenue Through Q3 Above $4 Billion
November 12, 2013
Nov. 12--Hotel revenue through the third quarter rose above $4 billion for the first time ever, putting Hawaii's hotel industry on track to set an annual revenue record, according to a hotel flash report set for release today by Hospitality Advisors LLC. The hotel industry established records in September for room revenue, revenue per available room (RevPAR) and average daily rate (ADR), said Joe Toy, Hospitality Advisors' president and CEO. September occupancy statewide dipped 0.2 percentage points to 73.5 percent in keeping with a 1.1 percent decline in visitor arrivals. However, on average, hotel visitors that month paid 10.3 percent
New Owners of Gabe’s Tower in Owensboro, Kentucky Plan Hotel’s Rebirth
November 12, 2013
Nov. 12--The new owners of Gabe's Tower plan to spend as much as $6 million to renovate and reopen the iconic 13-story building as a refurbished hotel, Mayor Ron Payne announced Monday. The city is working with the developers to find additional parking for the hotel and to waive landfill fees for the demolition debris that will come out of the long-closed circular edifice at 1929 Triplett St., according to Payne. "It looks like we will be salvaging Gabe's Tower," Payne said. "There's been talk of reopening the (hotel) restaurant. They need parking, and we're assisting with that." Payne answered "yes" when asked if the developers had the
Judge’s Ruling Paves Way for Construction to Proceed on 137-room Hyatt Place in Amherst, New York
November 12, 2013
Nov. 12--A judge has rejected two lawsuits against the controversial Hyatt Place Hotel on Main Street in Amherst, paving the way for work on the six-story hotel to proceed. In a written ruling issued Friday, State Supreme Court Justice John L. Michalski upheld the decisions made earlier this year by two Amherst boards allowing Iskalo Development Corp. to build the $15 million, 137-room hotel near the Youngmann Highway. Angry Hyatt neighbors -- claiming the developer was shoehorning a huge hotel into a residential area -- filed suit, but failed to establish that the town's Planning Board and Zoning Board of Appeals acted "unlawfully, arb
Wynn Withdraws from Proposed $929 Million Casino-Resort Plan for Philadelphia, Pennsylvania
November 12, 2013
Nov. 12--Las Vegas casino magnate Steve Wynn on Monday abruptly dropped his bid to win Philadelphia's second casino license. His company, Wynn Resorts Ltd., said it withdrew its application in Philadelphia -- touted recently as part of an effort to bring grand urban hotels back to life -- to pursue business opportunities elsewhere. "The board took a host of factors into consideration, including the Philadelphia market performance over the past year and the competition which will result from the recent approval of gaming" in New York last week, the Las Vegas company said in a statement. The company said its officials had no further comme
$100 Million Makeover Completed for Lady Luck Casino; Complex Re-Branded as Downtown Grand Las Vegas
November 12, 2013
Nov. 12--Los Angeles landlord and developer CIM Group has completed its elaborate makeover of the Lady Luck, a once-popular Las Vegas hotel and casino that opened in 1964 and closed in 2006. After an estimated $100-million renovation, the complex at 3rd Street and East Ogden Avenue is now called the Downtown Grand Las Vegas and considered the centerpiece of the city's Downtown3rd Entertainment District. The Downtown Grand has 634 rooms in two towers -- the 18-story Casino Tower and 25-story Grand Tower; 25,000 square feet of gaming space plus bars and restaurants. In contrast to typical casinos that are designed to keep visitors indoors