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The 286-room Crowne Plaza Southern Hills in Tulsa, Oklahoma Faces Foreclosure Auction
November 8, 2013
Nov. 08--The Crowne Plaza Southern Hills has entered foreclosure and will be put up for auction. The 11-story, 286-room hotel at 7900 S. Lewis Ave., which remains in operation, has a tentative auction date of Dec. 10 during the weekly Tulsa County sheriff real estate auction. Its appraised value is listed at $12 million. The foreclosure was the result of a lawsuit filed by State Bank of Texas earlier this year against Nevada-based Brisam Tulsa LLC, Ashok Dhabuwala and Metro Eight Hotel LLC. The claim alleged nonpayment of $6.3 million owed on loans. The hotel is owned by New York City-based McSam Hotels and operated by Packard Hospitali
Goodbye, Cheap Las Vegas Strip Buffet: Today’s Diners are More Concerned with Quality than Price
November 8, 2013
Nov. 08--In Las Vegas' older days, a "good" buffet meant a cheap buffet. The judging criteria was simple: the cheaper, the better. When it comes to buffets today, what qualifies as "the best" has dramatically changed. Now, it's about the highest quality. "Twenty years ago, it was about kitchy-ness," said Jeffrey Frederick, vice president of food and beverage at Caesars Palace. Buffets once were dark, cafeteria-style eateries lined with trays of stacked discount grub baking under heat lamps. Patrons paid next to nothing to stuff themselves silly -- a couple of bucks at most -- and that's if casinos didn't fork over free buffet tickets wi
Work to Begin by March 2014 on $40 Million 180-room Wyndham Hotel in Greensboro, North Carolina
November 8, 2013
Nov. 08--GREENSBORO -- Construction on downtown's new luxury hotel is planned to begin by March. And Greensboro's $40 million Wyndham isn't just a Greensboro project. Local developer Randall Kaplan has been the face of the Elm Street Wyndham. But in fact, the biggest investor in the project is Greg Dillon of Washington. Dillon officially became an investing partner alongside the Elm Street Center in May, said George House, a Greensboro lawyer and one of the center's four managing partners. "Randall and I are really excited about having someone of his caliber and knowledge who has built as much as he has," House said. "To a certain exten
Atlantic City’s Atlantic Club Casino Hotel Files for Bankruptcy Protection
November 8, 2013
Nov. 08--The Atlantic Club Casino Hotel has filed for bankruptcy. The casino is seeking Chapter 11 bankruptcy protection in federal court to facilitate an expedited sale while the property continues to operate, Atlantic Club announced Thursday. The move follows the public collapse of a plan earlier this year to sell the casino to online poker giant, PokerStars, in a disagreement still tied up in another courtroom. "We believe in our property's positioning and the value-centric niche we committed to nearly 18 months ago. Our creative branding campaign and the tremendous efforts of our employees have resulted in property growth within a c
$280 Million Dual-Branded Hotel Tower Proposal for Philadelphia, PA Gains in City Council
November 8, 2013
Nov. 08--City Council moved closer Thursday to approving millions in tax breaks for a contentious 50-story hotel development in the heart of Center City. The $280 million tower would include two hotel brands -- W and Elements -- built on a parking lot at 15th and Chestnut Streets, a half-acre plot adjacent to the disastrous 1991 fire that consumed One Meridian Plaza and resulted in the deaths of three firefighters. The developers, Brook Lenfest and Jeffrey Cohen, say they can't build there without tax increment financing (TIF), a deal in which they would borrow $33 million and repay the loan through tax breaks authorized by the city. Th
Vacant Trump Hotel in Fort Lauderdale, FL Gets Buyer, Could Finally Open
November 8, 2013
Nov. 08--FORT LAUDERDALE -- For years, the once-named Trump International hotel has symbolized the recession, a vacant monolith mired in bankruptcy and lawsuits along the city's beach. Now the 24-story structure may be a harbinger that the beach has got its groove back, with plans afoot to turn it into a luxury hotel and condominiums. A partnership is under contract to purchase the never-opened hotel that was originally supposed to greet its first guests in 2009. The group plans to spend more than $100 million to transform the hulking concrete structure about four blocks south of the Bonnet House property, said Heidi Davis Knapik, an at
Parker Real Estate to Develop 83-key Holiday Inn Express in Decatur, Alabama
November 8, 2013
Nov. 08--Jeff Parker, of Parker Real Estate, said construction of the Holiday Inn Express will start as early as the first quarter of 2014 and will be finished about March 2015. The 83-room hotel will be located beside the Texaco facing the Beltline, he said. Parker said there are also retailers that have expressed interest in the area. "It's going to be huge. Any time there's a hotel, the first thing that comes is more restaurants and more retail," Parker said. Crystal Brown, Decatur-Morgan County Chamber of Commerce director of business development, said she was not aware of any retailer commitments beyond the hotel. She said the sewe
Japan’s Hotel Okura Latest to Own up to Fraudulent Menus at 13 Hotels and 3 Restaurants
November 8, 2013
Nov. 08--Hotel Okura on Thursday became the latest in a seemingly endless string of established hotels and department stores to admit to misrepresenting the items on its restaurant menus. Hotel Okura Co., the operator of the landmark hotel in central Tokyo and others nationwide, said 13 hotels and three restaurants under its wing had misrepresented 235 menu items. According to the hotel chain, a total of 386,000 dishes stemming from false menu descriptions, amounting to Y870 million, had been sold since 2007. Separately, JAL Hotels Co., a unit of Hotel Okura, reported similar menu misrepresentations at its 13 hotels that amounted to 130