News Archive: May
Foreclosing Bank, Rockland Trust, Takes Stone House Inn in Little Compton, RI with $3.3 M Bid
May 17, 2014
May 17--LITTLE COMPTON -- A foreclosure auction held Friday for the historic Stone House inn, at 122 Sakonnet Point Rd., ended with a representative of the foreclosing bank, Rockland Trust Co., taking the property with a $3.3-million bid. The winning bidder, Virginia Norkevicius, a senior vice president at the Massachusetts bank, declined comment about the bank's plans for the property now that the former owner, Stone House LLC, is out of the picture. The auction was delayed from its scheduled 11 a.m. start, when auctioneer Dean Ponte said he would wait several minutes for a "qualified bidder" to arrive. Several minutes later, a woman t...
Knoxville Hotelier, Jayesh Dahyabhai Patel, Indicted on Five Counts of Federal Fraud Charges
May 29, 2014
May 29--A Knoxville hotelier has been indicted on federal fraud charges for allegedly bilking an East Tennessee bank for nearly $6 million in connection with the purchase and renovation of a Cedar Bluff area hotel, prosecutors said. Jayesh Dahyabhai Patel, 48, was indicted May 13 on five counts of bank fraud in U.S. District Court in Greeneville, according to a news release from U.S. Attorney Bill Killian's office. Patel, doing business as QIS Knoxville LLC, secured a $5.8 million loan from First Community Bank of East Tennessee to purchase and renovate a Knoxville hotel, the release states. According to property records, QIS Knoxville ...
Turnberry Isle Miami Welcomes New Managing Director, Jon Gersonde
EVINS | May 15, 2014
AVENTURA, FL (May 16, 2014) - Turnberry Isle Miami, the legendary South Florida resort and private membership club, has appointed Jon Gersonde as Managing Director. Effective immediately, Gersonde will report directly to Ray Waters, President of Turnberry Hospitality Group. In his new role, Gersonde is responsible for overseeing the 300-acre property's day-to-day operations, financial results, standards and service. "Jon's energy, dynamic management capabilities and exceptional leadership skills will undoubtedly make him a valuable asset at Turnberry Isle Miami," said Waters. "I am confident that our award-winning hospitality team will ...
Broadmoor Hotel in Colorado Springs, CO Completes $57 M Renovation for its Broadmoor West
May 13, 2014
May 13--When The Broadmoor hotel opened Broadmoor West in 1975, it was separated from the rest of the hotel property by more than just Cheyenne Lake. Unlike The Broadmoor's main building, which opened in 1918, and other buildings that followed, Broadmoor West's contemporary architecture looked nothing like the rest of the property. The narrow building had a mostly featureless facade of balconies from one end to the other, and lacked a distinctive architectural element, such as towers on other Broadmoor buildings. "It was fair to say it was not a good time for architecture, in general, in the '70s," said Broadmoor President and CEO Steve...
VUE Hotel and 21 Riverfront Acres in Natchez, Mississippi Up for Sale
May 3, 2014
May 03--NATCHEZ -- The VUE Hotel and the nearly 21 acres of riverfront property below the hotel is now for sale. RJB Financing, which bought the hotel out of bankruptcy in 2012, is selling the property, said David Levy, vice president of NRC Realty and Capital Advisors in Chicago. NRC is facilitating the sale, and Levy said the hotel and the riverfront property could be bought separately. RJB purchased the property in 2012 for approximately $5.6 million, according to bankruptcy documents, and changed the hotel's name from the Grand Soleil to the VUE. VUE Hotel management deferred to NRC for comments on the sale. Levy said the hotel woul...
Developer, Riverview Holdings, Plans to Build a 96-room Comfort Inn and Suites in Elkin, N.C. Area
May 28, 2014
May 28--The owners of a local hotel confirmed they purchased franchise rights for a new hotel in the region. Riverview Holdings, LLC expects to build the hotel under the Choice brand. Riverview Holdings, LLC is owned by three managing partners -- Ben Mastin, Fred Eidson and Bob Greene. The trio's most notable project is its signature hotel, the Marriott Fairfield Inn and Suites in Elkin. "We will build a new Choice hotel in the area," said Ben Mastin of Riverview Holdings, LLC. "I expect that it will be a 96-room hotel...It's going to be a Comfort Inn and Suites." According to Mastin, the five-floor hotel will feature all suites. The fa...
Las Vegas’ Culinary and Bartenders Unions Plan a June 1st Strike at Nine Downtown Casinos
May 21, 2014
May 21--Union members working without a contract for nearly a year say they'll strike at nine downtown casinos beginning June 1. In a news released posted today, the Culinary and Bartenders Unions said its restaurant workers, hotel housekeepers, cocktail servers, bartenders and other members would walk off the job at 5 a.m. June 1 and start round-the-clock picketing of the nine downtown casinos where they don't have a contract. The targeted casinos are: The D, Four Queens, Binion's, Fremont, Main Street Station, Plaza, Las Vegas Club, El Cortez and Golden Gate. A strike would last until a contract settlement is reached with the properti...
Lake Worth, Florida’s Historic 106-room Gulfstream Hotel Sold to Hudson Holdings
May 13, 2014
May 13--The Gulfstream Hotel in downtown Lake Worth has been sold to a Delray Beach real estate company, finally ending a period of limbo for the historic hotel. Hudson Holdings is involved in the acquisition and development of commercial and residential real estate, according to its website. The website now prominently features the Gulfstream Hotel, built in 1925, as one of Hudson's current projects. The Gulfstream Hotel, adjacent to the Intracoastal Waterway at Lake Avenue, has been locked litigation since 2010. That's when a lender filed a foreclosure lawsuit against its then-owner, CSC Lake Worth Limited Partnership in Palm Beach Co...
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