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Travelodge Warns London Area Tax Hike Could Hinder its Development Pipeline in the Region
July 29, 2013
July 29--Budget hotel chain Travelodge warned today that nearly half of its planned hotels in the capital could be rendered "increasingly unviable" as it faces an "extortionate" pounds sterling 27 million tax hike from London boroughs. The company has a pipeline of 95 hotels in London but is facing the huge potential bills from the community infrastructure levy planned or already in force in 19 boroughs. Under the levy, which came into force in April 2010, local authorities can raise funds from developers undertaking projects in their areas to fund required infrastructure. But Travelodge warned that the councils were treating the levy a
DreamCatcher Hotels: Greg Hnedak Endeavors to Forge New Path for Hotel Development
July 28, 2013
July 28--The luxurious, overhead Kohler shower spray is the first feature that Greg Hnedak shows a visitor to one of the mock hotel rooms in the Downtown headquarters of his new company, DreamCatcher Hotels. "One hundred twenty nozzles of water with this overhead rain shower and another on the wall,'' he said. "People love this feature." He points out the rimless, glass shower door usually found in five-star hotels. Hnedak, a well-known Memphis architect who had a large hand in Downtown's transformation into a residential and entertainment center, is changing careers. Thirty-four years after becoming a founding partner of Hnedak Bobo Gr
Grand Dame Hotels Define Elegance of Bygone Eras: Carmel’s La Playa Hotel, a Shining Example
July 28, 2013
July 28--A handful of legendary grande-dame hotels around the country continue to define the classic elegance of bygone eras. For that reason alone they're attractions, like visiting art museums. Of course, multimillion-dollar "modernizations" have helped keep them competitive. Consider the St. Francis in San Francisco (1904), the Hotel del Coronado near San Diego (1888) and the Breakers in Palm Beach, Fla., (1896). Add to the list La Playa in Carmel, a Mediterranean villa-themed, 75-room showplace perched on a bluff overlooking the ocean. It was designed in 1905 by landscape artist Christian Jorgensen as a residence for him and his wif
Columbus, OH, Experiencing Surge of New Hotels in Mid-to-Upper Level Market with Growth Rate of 2-3%
July 28, 2013
July 28--In the Short North. At Port Columbus. Near Ohio State University. All over town, new hotels are in the works or are under construction. Hotel construction is up nationally, too, by 10.5 percent in June, compared with the previous year, according to STR Pipeline Report. Growth is happening here, but at a slower rate, according to a local expert. "It's slow and steady, nothing like the market cycle we saw before the recession," said Eric Belfrage, a hotel specialist with commercial real-estate firm CB Richard Ellis in Columbus. Back then, he said, "We would see a 5 percent supply growth in a year, which was a pretty heavy number,
Father and Son, Roy and Preetesh Patel, Acquire Bowling Green, Kentucky Hotel for $2.5 Million
July 27, 2013
July 27--The new owners of a 177-room Scottsville Road hotel sold Friday are not new to the motel business. In fact, they own a nearby property. Roy Patel and his son, Preetesh Patel, had the winning bid of $2.5 million Friday for the property sold in a master commissioner's sale. Preetesh Patel said he is unsure of what changes need to be made to the hotel. "We have to get it evaluated," he said. Preetesh Patel said it is likely that they will keep existing hotel employees to continue operations. The Patels already own the nearby Executive Inn, Microtel Inn, Super 8 and Hotel Sync in Bowling Green, as well as another property elsewhere
Developer, Shanghai’s Greenland Holdings Group, Buys LA Site for $1 Billion Project to Include Hotel
July 27, 2013
July 27--BEIJING (China Daily/ANN) -- Shanghai's Greenland Holdings Group acquired a site in downtown Los Angeles from a California teachers' pension fund on Friday to build a US$1 billion project that will include a hotel, office units and residences. The property purchase marks the latest foray by Chinese developers into overseas markets. The state-owned real estate developer -- which is building China's second-tallest tower -- acquired the 25,600 square-metre site from the California State Teachers' Retirement System (CalSTRS), the second-biggest American pension fund. "We have a signed agreement for purchase of the property," said M
Miami, Florida’s 64-room Lord Balfour Hotel in South Beach Celebrates Grand Opening
July 26, 2013
July 26--Now open in South Beach: a boutique hotel with British flair. The Lord Balfour hotel, at 350 Ocean Dr., held an official ribbon cutting this week, but the 64-room property has been open for the past few weeks. First opened in 1940, the hotel has undergone $10 million worth of renovations in recent years. The end result mixes edgy modern design -- think wall murals featuring body art -- and tributes to the hotel's namesake, Lord Arthur James Balfour, a British prime minister. The property is owned by Cometsa, a joint venture between Green Comet II and Etsa, a group from Argentina. Green Comet first bought the property in the Sou
Tetherow Emerging as Central Oregon Destination Resort with Two Hotels Opening at its Golf Course
July 26, 2013
July 26--A five-year pause in central Oregon destination resort development ended this spring when Tetherow Golf Club began construction of twin units of a boutique hotel, located on either side of its clubhouse and restaurant. Both are expected to open early next year. The area around Bend had been a hotbed of luxury second-home resort developments until 2007, when the economy went in the tank. Pronghorn and Brasada Ranch, both high-quality destination resorts, opened just before the downturn. They subsequently restructured their business models to deal with the changing scene, offering more amenities and rental opportunities for short