Property Types Hospitality
Gaming Board May Force Casino Sale
May 14, 2008
Source: Crain's Detroit Business

A Michigan gaming board will meet June 10 to decide whether to order a forced sale of a casino that has not been hitting its financial marks. The Michigan Gaming Control Board will consider the sale of Greektown Casino, which is currently working on a deal to sell a 40 percent chunk to Entertainment Interest Group.

The board's executive director told Crain's Detroit Business that the casino is in violation of a board-ordered covenant to keep their debt ratio at a prescribed level. If this covenant is not followed, the board can sell the casino.

Read full story here.

 
Recent Hospitality Headlines
Gaylord to Develop Convention/Resort Facility in Mesa
Sept. 05, 2008
Gaylord Entertainment has inked a deal to buy a parcel of land at the Mesa Proving Grounds in Mesa, Ariz., for the development of a resort and convention center. The development will occupy about 100 acres of the Mesa Proving Grounds, which totals about 3,200 acres.
Starwood, Sands Reach Deal on Luxury Residences for Las Vegas Strip
Sept. 05, 2008
Starwood Hotels & Resorts Worldwide Inc. will bring its high-end St. Regis brand to Las Vegas with the opening in two years of The St. Regis Residences at the Venetian Palazzo, LasVegas. Starwood and Las Vegas Sands Corp. reached an agreement for Starwood to manage 398 private luxury residences in a $600 million residential tower under construction on The Strip between The Venetian and The Palazzo.
Houston Hotel Emerges from $22M Makeover
Sept. 05, 2008
Sunstone Hotel Investors has wrapped up its reinvention of the former Wyndham Greenspoint Hotel, re-opening the 480-room property as the Hilton Houston North.
Las Vegas Sands, Starwood Hotels Sign Contract to Open First St. Regis Residences in Las Vegas
Sept. 04, 2008
Las Vegas Sands has reached an agreement with Starwood Hotels & Resorts Worldwide Inc. to develop The St. Regis Residences at the Venetian Palazzo in Las Vegas, Nev.
monte carlo Report Cites Building Materials in Monte Carlo Fire
Sept. 02, 2008
More than seven months after a fire at the Monte Carlo Resort and Casino in Las Vegas, news has emerged that the exterior wall claddings at the property did not meet the building code at the time of original construction in 1996.
 

 

Fults to Start New Firm in Dallas
September 05, 2008
By: Tonie Auer, Southwest Correspondent --Despite a flat Dallas real estate market, Tracy Fults took a leap of faith in the creation of his new real estate firm of Fults Commercial, following in the footsteps of his late father and...

184-Acre Bioscience Park Breaks Ground on Former Army Site
September 05, 2008
By: Tonie Auer, Southwest Correspondent --Construction began Wednesday as part of the transformation of the former Fitzsimons Army Medical Center in Aurora, Colo., for the 184-acre business park called Colorado Science + Technology Park at Fitzsimons. The project is being...

Chartwell to Buy Out Seniors Housing JV
September 05, 2008
By: Scott Baltic, Contributing Editor --Residences Melior, an affiliate of Groupe Melior, of Montreal, has exercised its right under a joint venture agreement with Chartwell Seniors Housing REIT to sell to Chartwell the remaining 50 percent interest owned by Melior...

Gaylord to Develop Convention/Resort Facility in Mesa
September 05, 2008
By: Dees Stribling, Contributing Editor --Gaylord Entertainment has inked a deal to buy a parcel of land at the Mesa Proving Grounds in Mesa, Ariz., for the development of a resort and convention center. The development will occupy about 100...

REal Talk with Adam Perrotta-Wednesday
September 03, 2008
By Adam Perrotta, News Writer --While Manhattan's Downtown and Midtown South office submarkets have recently been billed as havens for smaller tenants looking to avoid the sky high rents of Class A Midtown space, such firms may still be able...

Expectation Alignment Key to 'Promise Management'
September 05, 2008
by Mike Myatt, Chief Strategy Officer, N2growth --The art and science behind making commitments and managing expectations has always been a critical skill set for senior executives and entrepreneurs to master. In fact, understanding how to come out on the...

It's All In The Message
August 29, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Top CEOs understand the power, influence, and leverage created by great messaging. Do you ever find yourself sitting back and marveling at those chief executives who always seem to have the right thing...

Do You Have A Bad Attitude?
August 22, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Show me a CEO with a bad attitude and I'll show you a poor leader. While this sounds simple enough at face value, I have consistently found that one of the most often...

Is Family Business a Good Idea?
August 15, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Oh what a conundrum! Family business: Should I, or shouldn't I? In my opinion there really isn't a right or wrong answer to this question. It is simply a matter of personal preference....

What to Do When Marketing Goes Wild
August 08, 2008
By Mike Myatt, Chief Strategy Officer N2growth --Have your company's marketing initiatives wandered astray? Is the proverbial tail starting to wag the dog with respect to your current marketing campaigns? How do you know when marketing is out of control?...