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Morgans Hotel Group to build new $125M hotel in Philadelphia   31 Oct, 2014

The company is proposing to build a 300-room hotel, which will be designed by DAS Architects of Philadelphia, and Clemens Construction has been retained to oversee its development. The hotel will operate under Morgans' Hudson brand, and construction is expected to begin next year and be completed...More>>

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Sebi accuses Sahara Group of delaying asset sales   31 Oct, 2014

​The Sahara Group, an Indian business conglomerate, has faced a series of complications in clearing itself of debts in recent times. The easiest way the Group's chairman, Subrata Roy, can get out of his creditor's hair is to sell some of his hotels (namely The Plaza and Dream in New York and the...More>>

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Hyatt Regency Dearborn to operate as the Adoba Hotel   31 Oct, 2014

The hotel owes more than $850,000 in Wayne County property taxes, forcing the previous management company that ran the hotel to declare it would shut the property down. That management company, Atmosphere Hospitality Management Services, conceded the hotel to Lodging Host Hotel Corp., which will...More>>

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Carey Watermark Investors acquires Savannah Staybridge Suites   31 Oct, 2014

CWI's $25.5-million investment includes the $22.8 million purchase price as well as $2.7 million in other acquisition-related costs and planned capital expenditures. The acquisition was financed with $14.9 million of debt. The hotel will continue to be managed by Interstate Hotels & Resorts.More>>

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Vacant Saddle Brook, N.J., Crowne Plaza up for sale   30 Oct, 2014

Several companies have expressed interest in buying the Crowne Plaza in Saddle Brook, N.J., along with four other hotels, in the event that a sale with a prospective buyer falls through, reports The Record. The 12-story former Holiday Inn had been vacant for years, is part of a portfolio that...More>>

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Hotel magnate Scheetz calls off hotel after selling properties to NYU   30 Oct, 2014

Ed Scheetz, who heads Chelsea Hotels, took an offer he couldn't refuse. The Daily News reports that a luxury hotel he had planned for an area in Manhattan known as NoHo, is now a no-go after he sold two buildings to New York University for a reported $157 million.More>>

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Dallas Cowboys, Omni Hotels partnering on new hotel   30 Oct, 2014

The Dallas Cowboys and Omni Hotels & Resorts are partnering to develop a new hotel at the future site of the Cowboys World Headquarters in Frisco, Texas. The Omni property will reportedly be one of the only full-service upscale hotels in the area, and serve as a cornerstone of a mixed-use...More>>

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Marriott International plans for 70 hotels in India   29 Oct, 2014

Marriott International, which primarily follows the management contract model, has seven operating brands in India representing luxury to upper mid scale category.More>>

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Marriott's Q3 2014 results show development pipeline 1,300 properties deep   29 Oct, 2014

Marriott International released its third quarter results for 2014, reporting a net income of $192 million, a 20 percent increase over Q3 2013. Diluted earnings per share (EPS) totaled $0.65, a further 25 percent increase from the same period last year and above the EPS forecasted by the company...More>>

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The Radisson Paper Valley Hotel goes up for sale   29 Oct, 2014

The starting bid for the 388-room, full-service hotel in Appleton, Wis., is $7.5 million. The auction starts Dec. 1 and ends Dec. 3. The hotel is owned by a group of investors that once held the mortgage for the property. The property was built in 1982, and has nearly 38,000 square feet of meeting...More>>




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