Property Types Hospitality
Doors of 285-Room Sheraton Swing Open Near Disneyland
July 25, 2008

Kam Sang Co. Inc. has recently wrapped up development of Sheraton Garden Grove-Anaheim South Hotel. Straddling the Orange County cities of Garden Grove and Anaheim, the seven-story property at 12221 Harbor Blvd. sits only minutes from Disneyland and is within close proximity to major sports arenas Angels Stadium and the Honda Center. In addition to its 285 guestrooms, the hotel also features a fitness center and a restaurant. Starwood Hotels & Resorts Worldwide Inc. manages and operates Sheraton Garden Grove, the opening of which marks another step in Sheraton's biggest ever global expansion program; 54 hotels with a total of 20,000 guestrooms will open under the Sheraton flag by 2009.

 
Recent Hospitality Headlines
In Vegas, El-Ad Wins Battle over Plaza Name
Oct. 07, 2008
A $5 billion resort casino planned for the Las Vegas Strip will be able to be operate under the Plaza brand after a jury ruled that the developers could use that title despite the fact that another property in the city also goes by the Plaza name.
Hilton Plans 150 Hotels in Caribbean, Latin America
Oct. 07, 2008
Taking yet another big step toward its goal of increasing its international portfolio by 1,000, Hilton Hotels has revealed that the behemoth Beverly Hills-based hospitality concern will step up its presence in the Caribbean and Latin America. The company will enhance its offerings with the addition of 150 properties over the next five years, thereby multiplying its current group of hotels in the regions by four.
CSV Acquires $214M Mezzanine Loan on Hotel Portfolio
Oct. 06, 2008
Carlton Group has reported that Carlton Strategic Ventures, CSV, the principal investment and merchant banking group of the Carlton Group, has acquired a $214 million participation in the M7 mezzanine loan tranche on the Extended Stay Hotels portfolio. The M7 loan tranche is a senior mezzanine level tranche with over $1 billion of subordinate debt and borrower equity. The M7 mezzanine loan is part of a $7.4 billion financing provided by Wachovia Bank, Bank of America, Merrill Lynch, and Bear Stearns to fund the acquisition of Extended Stay Hotels Inc. by the Lightstone Group in June 2007.
$55M Financing Deal Wraps Up for New Ritz-Carlton Denver
Oct. 06, 2008
A $55 million mortgage loan for the 202-room Ritz-Carlton Denver, located in downtown Denver at 1881 Curtis St., has just closed
Casino Hotels Feel the Pinch from the Economic Slowdown
Oct. 06, 2008
Lower airline capacity, tighter credit markets and the general economic downturn now gripping the U.S. have taken a deep toll on casino hotels. A sector that was enjoying positive times as recently as 2007 is now experiencing some daunting problems in two gaming capitals, Las Vegas and Atlantic City.
 

 

Financial Market Update: After the Bell -Friday, Oct. 10
October 10, 2008
By Dees Stribling, Contributing Editor -- Investors usually pay lip service to long-term investing, but in times of crisis the reality is sell - everything - now! Panic was the order of the day on Wall Street, which saw the...

Federal Capital Partners Closes $230M Fund, Will Seek Debt Investments
October 10, 2008
By Gail Kalinoski, Contributing Editor -- Armed with a $230 million private equity fund that could allow up to $900 million in investments, Federal Capital Partners said it would continue to seek deals on value-added assets, but would also move...

HFF Arranges $97M Refi for Industrial Portfolio
October 10, 2008
By Coreen Bailor, Research Editor -- The Dallas office of Holliday Fenoglio Fowler L.P. has secured $97.5 million in refinancing for a seven-property industrial portfolio comprising 2.2 million square feet in Florida, New Jersey, Oregon and Texas. The cluster of...

D.C. Office Market Flat Despite Financial Chaos: Report
October 10, 2008
By Elena Gontar, Staff Writer -- The modest second quarter growth rates experienced in Washington, D.C., and Northern Virginia evaporated in the third quarter, according to a CB Richard Ellis Inc. report. The entire region saw an essentially flat market...

Fed, Central Banks Cut Rates
October 08, 2008
By Tom Dworetzky, News Editor -- The Federal Reserve has cut its key rate from 2 percent to 1.5 percent. The response, an effort to stem mounting losses in the markets around the world, is part of a move that...

Management Matters with Mike Myatt: Are Recruiters Effective?
October 10, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Sourcing tier one talent is an issue for all businesses. I was recently asked if recruiters are effective, or if they're worth the investment. Since my firm has a talent management practice which...

Management Matters with Mike Myatt: Partisan Politics Not Always Bad
October 03, 2008
The truth about partisan politics is that contrary to public opinion, it's not always a bad thing. Likewise, bipartisan efforts don't always reflect altruistic behavior and selfless acts. From my perspective, it isn't necessarily the stance you take, but rather...

Management Matters with Mike Myatt: Facing Up to Rogue CEOs
September 26, 2008
By: Mike Myatt, Chief Strategy Officer, N2growth --Rogue CEOs. Given the recent failures of banks and financial institutions previously thought to be untouchable, there has been a tremendous amount of justifiable venom being spewed at the CEOs of these firms....

When to Consider Corporate Restructuring
September 19, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Times are tough, and they're likely to get tougher, so my question is this; Should you, or should you not, consider a move toward corporate re-engineering? Whether directly or indirectly, your business will...

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...