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Maxim Hotel Brokerage, Inc. Arranges the Sale of the 60-room Holiday Inn Express – Green Valley, AZ / December 2004
April 30, 2004
Hotel Online Special Report Maxim Hotel Brokerage, Inc. Arranges the Sale of the 60-room Holiday Inn Express Green Valley, AZ NEWPORT BEACH, CA: December. 2004 Maxim Hotel Brokerage, Inc. has confirmed the sale of the 60-room Holiday Inn Express located in Green Valley, Arizona on December 6th for an undisclosed price. Jack Carr and Chris Chiotis of Maxim Hotel Brokerage completed the transaction. The eight year old Holiday Inn Express is a 3-story, 60 room hotel located 25 miles south of Tucson in the suburban community of Green Valley. Maxim Hotel Brokerage represented the seller; a private hotel company ...
Monterey Marriott Concierge Marie Lupo Receives Clefs d'Or Membership / December 2004
April 30, 2004
Hotel Online Special Report Monterey Marriott Concierge Marie Lupo Receives Clefs d'Or Membership MONTEREY, Calif., Dec. 6, 2004 - The Monterey Marriott announced today the elite Clefs d'Or membership bestowed upon Hotel Concierge Marie Lupo. An international organization with approximately 400 members in the United States, the Clefs d'Or presents this distinguished honor to a concierge with a minimum of five years experience, who demonstrates vast knowledge of the immediate and surrounding areas in which they serve. "We salute Marie Lupo for her outstanding service and obtaining such a distinguished honor," sai...
Mandarin Oriental Hotel Group Will Manage a New Hotel Under Development in Prague, Czech Republic / December 2004
April 30, 2004
Hotel Online Special Report Mandarin Oriental Hotel Group Will Manage a New Hotel Under Development in Prague, Czech Republic Hong Kong, 1 December 2004 - Mandarin Oriental Hotel Group has today announced that it will manage a new, luxurious hotel currently under development in the historic centre of Prague in the Czech Republic. The project provides the Group with a unique opportunity to establish its luxury brand in one of Europes foremost travel destinations. Mandarin Oriental, Prague will be a chic 98-room hotel, to be housed in an exceptionally beautiful building that began life as a monastery in the 14th ...
Greek Mythology (Macau) Entertainment Group Limited HKD600-million New Century Hotel & Casino Opens / December 2004
April 30, 2004
Hotel Online Special Report Greek Mythology (Macau) Entertainment Group Limited HKD600-million New Century Hotel & Casino Opens MACAU, Dec. 22, 2004 - Macau gaming and entertainment group Greek Mythology (Macau) Entertainment Group Limited is opening a new Greek Mythology Casino at New Century Hotel on December 23, 2004. The first phase of this integrated casino and entertainment project has a total gross floor area of 160,000 sq ft and called for an investment of HKD600 million. Design, construction and fitting out took six months to complete. The casino is opening with 228 gaming tables in the first phase, w...
Convention Hotel Feasibility Study Overwhelmingly Demonstrates Need for a New 1,200-room Hotel near the Minneapolis Convention Center; Downtown Minnea
April 30, 2004
Hotel Online Special Report Discount Hotels London, Sydney, Rome, AmsterdamParis, Melbourne, Lisbon, Barcelona, Berlin, Hong Kong, New York, Auckland Discount Hotels London, Sydney, Rome, AmsterdamParis, Melbourne, Lisbon, Barcelona, Berlin, Hong Kong, New York, Auckland Convention Hotel Feasibility Study Overwhelmingly Demonstrates Need for a New 1,200-room Hotel near the Minneapolis Convention Center , Downtown Minneapolis' Inadequate Hotel Inventory Negatively Affects Future Convention Business November 30, 2004 - The results of a newly released convention hotel feasibility s...
Carlson Hotels Worldwide Appoints Michael Larose GM and Amanda Reed DOS at the Corporate-owned Country Inns & Suites in New Orleans / December 2004
April 30, 2004
Hotel Online Special Report Discount Hotels London, Sydney, Rome, AmsterdamParis, Melbourne, Lisbon, Barcelona, Berlin, Hong Kong, New York, Auckland Discount Hotels London, Sydney, Rome, AmsterdamParis, Melbourne, Lisbon, Barcelona, Berlin, Hong Kong, New York, Auckland Carlson Hotels Worldwide Appoints Michael Larose GM and Amanda Reed DOS at the Corporate-owned Country Inns & Suites in New Orleans MINNEAPOLIS (Dec. 14, 2004) --- Country Inns & Suites By Carlson, the mid-tier lodging brand of Minneapolis-based Carlson Hotels Worldwide, today announced the appointments of a genera...
Molinaro Koger Arranges Sale of the Renaissance Jamaica Grande Beach Resort / December 2004
April 30, 2004
Hotel Online Special Report Molinaro Koger Arranges Sale of the Renaissance Jamaica Grande Beach Resort McLean, Virginia December 13, 2004 Rob Koger, President of Molinaro Koger, announced today that the firm has arranged the sale of Jamaicas largest resort, the Jamaica Renaissance Grande Beach Resort, on behalf of Jamaica Grande Ltd. an investment group comprised of Marriott International, the Jamaican government and GoGo Travel. The buyer is National Continental Group, which is based in Kingston. This is the third major Caribbean resort sold by Molinaro Koger in 2004. Located in one of the worlds t...
Results of the French Hotel Industry in October 2004 Boosted by 4 Star Paris Hotels / MKG Consulting / December 2004
April 30, 2004
Hotel Online Special Report Results of the French Hotel Industry in October 2004 Boosted by 4 Star Paris Hotels Paris, December 3rd, 2004 After a mitigated summer season, spring appears much more favourable for the French hotel industry. The rise in RevPAR in all categories combined reached 5.0% in October 2004. Exhibitions boosted business in Paris, in the 4* category in particular, which saw its RevPAR rise by 16.1% versus 2003, despite a high euro/dollar exchange rate, and a lack of American customers on business travel during the election season. In total, from January to October, RevPAR rose by 2.8%. At ...
European Hotel Industry Continues Recovery; Results for Corporate Hotel Chains by Country for the 12 Months through October 2004 / MKG Consulting / De
April 30, 2004
Hotel Online Special Report European Hotel Industry Continues Recovery; Results for Corporate Hotel Chains by Country for the 12 Months through October 2004 Paris, December 8 2004 After two months of clear improvement, the good results of the European hotel industry continued at a more moderate pace. RevPAR rose by 0.6% in October. The medium-term improvement continued. The occupancy rate and the average daily rate progressed favourably over 12 months, for a RevPAR rise of 3.4%. Though Spain is trailing, hotel results from the United Kingdom demonstrate a return to activity, with a RevPAR on the rise by 8.1...
Molinaro Koger Structures Sale of Marriott Suites Hotel Bethesda / December 2004
April 30, 2004
Hotel Online Special Report Molinaro Koger Structures Sale of Marriott Suites Hotel Bethesda McLean, VA December 17, 2004 Molinaro Koger announced today that the firm closed the sale of the Marriott Suites Hotel, Bethesda, Maryland, on behalf of Bethesda Hotel Associates LP. DiamondRock Hospitality Company purchased the 274-all-suite property. Greater Washington DC metro continues to draw significant investor interest and to drive competitive bidding for hotel assets, said Rob Koger, President of Molinaro Koger who handled the transaction. We are pleased to have assisted our client in this successful dis...
Owner of Six Hotels, MHI Hospitality Looks to Raise $54 million with REIT IPO / December 2004
April 30, 2004
Hotel Online News for the Hospitality ExecutiveBy April Taylor, Daily Press, Newport News, Va.Knight Ridder/Tribune Business News Dec. 7, 2004 - WILLIAMSBURG, Va. -- A local hotel investment firm has filed to sell six million shares of common stock, with plans to qualify as a real estate investment trust that owns full-service hotels. MHI Hospitality Corp. hopes to sell shares at $9 to $11 each, hoping to raise more than $54 million from an initial public offering, underwritten by BB&T Capital Markets. The company plans to trade on the New York Stock Exchange under the ticker "MDH." At the completion of its public offering, the firm ...
Michael F. Glennie Named Executive Vice President, Real Estate for Fairmont Hotels & Resorts / December 2004
April 30, 2004
Hotel Online Special Report Michael F. Glennie Named Executive Vice President, Real Estate for Fairmont Hotels & Resorts TORONTO, Dec. 13, 2004 - Fairmont Hotels & Resorts Inc. (TSX/NYSE: FHR) announced today a new corporate position dedicated to maximizing the value of the Company's extensive owned real estate. Michael F. Glennie will become Executive Vice President, Real Estate effective January 2005, reporting to William Fatt, Fairmont's CEO. "Fairmont's unique portfolio of globally recognized hotel assets and considerable undeveloped land merit a team member dedicated to ensuring their full potential," sa...
Michael Gallegos, Co-founder of American Property Management Corp., Named National Recipient of the 2004 Ernst & Young Entrepreneur of the Year / Dec
April 30, 2004
Hotel Online Special Report Michael Gallegos, Co-founder of American Property Management Corp., Named National Recipient of the 2004 Ernst & Young Entrepreneur of the Year Created in just 14 years one of the nations largest and fastest-growing independent hotel companies. SAN DIEGO, Dec. 1, 2004 - Michael Gallegos, president and CEO of San Diego-headquartered American Property Management Corp. (APMC), has been named a national recipient of the 2004 Ernst & Young Entrepreneur of the Year for creating in just 14 years one of the nation's largest and fastest-growing independent hotel companies. Gallegos, wh...
MGM Grand Detroit Casino May Be Sold as Result of MGM MIRAGE Pending Merger with Mandalay Resort Group / December 2004
April 30, 2004
Hotel Online Special Report MGM Grand Detroit Casino May Be Sold as Result of MGM MIRAGE Pending Merger with Mandalay Resort Group LAS VEGAS, Dec. 3, 2004 - MGM MIRAGE (NYSE: MGG) announced today that it was considering various strategic alternatives in connection with operations in Detroit, Michigan. MGM MIRAGE currently operates, with local partners, the MGM Grand Detroit Casino. As part of its pending merger with Mandalay Resort Group (NYSE: MBG), which is expected to close in the first quarter of 2005, MGM MIRAGE would acquire a 53.5% indirect interest in the MotorCity Casino, also in Detroit. U...
Madelon Boom Named Chief Operating Officer for Golden Tulip Hotels, Inns & Resorts Hotel Management Division / December 2004
April 30, 2004
Hotel Online Special Report Madelon Boom Named Chief Operating Officer for Golden Tulip Hotels, Inns & Resorts Hotel Management Division Amersfoort (The Netherlands)/Lausanne (Switzerland), 17th December 2004 - Golden Tulip Hotels, Inns & Resorts is proud to announce the appointment of Ms Madelon Boom in the position of Chief Operating Officer (COO) of its hotel management division as per 1st of February 2005. Madelon joins Golden Tulip from Accenture Plc, where she held a variety of positions since 2001, lastly as Global Operations Director. Madelon Boom, who will be based both at Golden Tulip's head offices ...
Lowe Enterprises Investment Management Completes Acquisition of Miramonte Resort & Spa in Indian Wells, California; Plans $5 million in Renovations /
April 30, 2004
Hotel Online Special Report Lowe Enterprises Investment Management Completes Acquisition of Miramonte Resort & Spa in Indian Wells, California; Plans $5 million in Renovations LOS ANGELES - Dec. 2, 2004 -- Lowe Enterprises Investment Management (LEIM) has acquired the Miramonte Resort & Spa in Indian Wells, Calif. from Marcus Hotels and Resorts, a division of The Marcus Corporation (NYSE:MCS), on behalf of an investment client. Destination Hotels and Resorts ("Destination"), a LEIM affiliate, will operate the 215-room property. "Miramonte is a beautiful property in a premier location in the heart of the Pa...
The Momentum of Hotel Transactions in the Current Low Cap Rate Cycle / Anwar R. Elgonemy / December 2004
April 30, 2004
Hotel Online Special Report The Momentum of Hotel Transactions in the Current Low Cap Rate Cycle By Anwar Elgonemy, Vice President, Jones Lang LaSalle Hotels, San Francisco December 2004 The momentum of hotel transactions comes into play from an iterative relationship between demand and supply factors; this, coupled with money flows in the capital markets to both equity and debt, constantly impacts the lodging sectors yields. Current Low Cap Rate Environment Required yields, as measured by initial cap rates, continue to decline. While many expected that cap rates would start to rise as soon as the Federal Res...
Hotel del Coronado Taps LodgeNet for Single Source Solution / December 2004
April 30, 2004
Hotel Online Special Report Hotel del Coronado Taps LodgeNet for Single Source Solution . Interactive TV and High-Speed Internet Systems Enhance Historic Hotel With 21st Century Technology December 7, 2004 - Across the landscape of Americas historic hotels, the signature turret of the Hotel del Coronado stands tall. For more than a century, The Del has hosted presidents, foreign dignitaries and Hollywoods elite including Marilyn Monroe, Clark Gable and Frank Sinatra. In recognition of its romantic history and world-class beauty, the Hotel del Coronado was designated a National Historic Landmark in 1977. But ...
The Le Cordon Bleu Culinary and Hospitality Management School Providing $1 million in Scholarships to International Students Wishing to Study Hospital
April 30, 2004
Hotel Online Special Report The Le Cordon Bleu Culinary and Hospitality Management School Providing $1 million in Scholarships to International Students Wishing to Study Hospitality in Australia December 23, 2004 - The Le Cordon Bleu culinary and hospitality management school is helping develop tomorrows restauranteurs and hospitality high-flyers by providing more than a million dollars in scholarships to international students wishing to study hospitality in Australia. Based on a similar model used for young Australians, the scholarship program aims to provide passionate individuals with the opportunity...
Langham Hotels International Rebranding Sheraton Hotels in Australia and New Zealand, The Langham Hotel, Melbourne and Langham Hotel, Auckland / Decem
April 30, 2004
Hotel Online Special Report Langham Hotels International Rebranding Sheraton Hotels in Australia and New Zealand, The Langham Hotel, Melbourne and Langham Hotel, Auckland Hong Kong, Auckland and Melbourne - 7 December 2004 ----- Australia and New Zealand's first Langham Hotels will open their doors on 1 January 2005 as members of the world's most prestigious hotel collection, The Leading Hotels of the World. Continuing a tradition of gracious hospitality established by the Langham Hotel, London one hundred and forty years ago, the new Langham Hotels in Melbourne and Auckland will continue the Langham legend by...
$129 million Convention Center and Hotel in Lacaster, Pensylvania On Track for 2005 Groundbreading / December 2004
April 30, 2004
Hotel Online News for the Hospitality ExecutiveBy John M. Spidaliere, Lancaster New Era, Pa.Knight Ridder/Tribune Business News Dec. 17, 2004 - With the financial package wrapped up and the architects starting pre-construction designs, city and county officials are dreaming of golden shovels. Pencil in mid- to late summer 2005 for a groundbreaking for the $129 million downtown convention center and hotel on Penn Square. From here, said Mayor Charlie Smithgall, summing up the hopes of city and county leaders, "Success is the only option." Success now depends on the Lancaster City Redevelopment Authority. The Lancaster County Convention ...
Alan L. Tallis Named President of La Quinta Franchising LLC and Baymont Franchising LLC / December 2004
April 30, 2004
Hotel Online Special Report Alan L. Tallis Named President of La Quinta Franchising LLC and Baymont Franchising LLC DALLAS (Dec. 7, 2004) La Quinta Corporation (NYSE: LQI) today announced organizational changes within its franchising subsidiaries, La Quinta Franchising LLC and Baymont Franchising LLC. Alan L. Tallis, Executive Vice President and Chief Development Officer of La Quinta Corporation, will assume the additional position of President of La Quinta Franchising LLC and Baymont Franchising LLC. A. Brent Spaeth, Senior Vice President Human Resources and Administration of La Quinta Corpora...
The Hongkong and Shanghai Hotels Selling The 736 room Kowloon Hotel for HK$1.93 billion (approx $248 million USD) / December 2004
April 30, 2004
Hotel Online Special Report Discount Hotels London, Sydney, Rome, AmsterdamParis, Melbourne, Lisbon, Barcelona, Berlin, Hong Kong, New York, Auckland Discount Hotels London, Sydney, Rome, AmsterdamParis, Melbourne, Lisbon, Barcelona, Berlin, Hong Kong, New York, Auckland The Hongkong and Shanghai Hotels Selling the 736 room Kowloon Hotel for HK$1.93 billion (approx $248 million USD) Hong Kong, December 6, 2004 The Hongkong and Shanghai Hotels, Limited (HSH) today announced that through its wholly owned subsidiary, HSH Holdings Limited, the company has entered into an agreement t...
Cendant Completes Acquisition of all Ramada International; Appoints Reas M. Kondraschow as Senior Vice President and Managing Director, International
April 30, 2004
Hotel Online Special Report Cendant Completes Acquisition of all Ramada International; Appoints Reas M. Kondraschow as Senior Vice President and Managing Director, International PARSIPPANY, N.J. (Dec. 10, 2004) The sale of Ramada International Hotels & Resorts by Marriott International Inc. to Cendant Corporations Hotel Group has been completed, the companies announced today. Both companies said the financial impact of the transaction was not material. In connection with the acquisition, Cendant Hotel Group announced the appointment of Reas M. Kondraschow as senior vice president and managing direct...
