hospitality

Costar…

DiamondRock Hospitality acquired JW Marriott Cherry Creek at 150 Clayton Lane in Denver from Sage Hospitality for $72.6 million or $370,480 per room. The 11-story, 162,022-square-foot, Class A hospitality building was built in 2003 and opened in 2004. The hotel has 196 rooms and is in the heart of Cherry Creek. Hodges Ward Elliott Inc. represented the seller. Please refer to CoStar COMPS #2112472 for more information on this transaction…

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DiamondRock Pays $72.6M for JW Marriott Denver

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Superclick Networks to Open Middle East Office, Initiative Managed by Regional Industry Leader

April 28, 2011

MONTREAL–(Marketwire – Apr 28, 2011) – Superclick, Inc. ( OTCBB : SPCK ), a technology leader in IP infrastructure solutions to the hospitality industry, has announced plans to open a regional office in Dubai, UAE as part of its growth strategy to scale its presence worldwide. Superclick Networks currently has offices in Canada and the US with this new location to provide the strategic hub for commercial, deployment and support initiatives within the Middle Eastern region.

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Ashford Hospitality Picks Up 28-Hotel Highland Portfolio in Foreclosure

March 17, 2011

Ashford Hospitality Trust Inc. formed a new joint venture with Prudential Real Estate Investors to take ownership of the 28-hotel Highland Hospitality portfolio. The acquisition and restructuring were completed through a consensual foreclosure for total consideration of $1.277 billion. The total consideration equates to a purchase price of $158,000 per room compared with $244,000 per room before capital improvement funding when the portfolio was…

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Hospitality Real Estate Execs’ Confidence Shifts Into Overdrive

January 27, 2011

The beginning of a recovery last year in the hotel commercial property sector is expected to accelerate into a full-blown resurgence in 2011. Hospitality executives and analysts are expressing a surprisingly robust level of optimism, even exuberance, about market conditions this year. Bullishness about the state of the hospitality market in 2011 was on full display at this week’s Americas Lodging Investment Summit (ALIS) in San Diego. A host of…

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Hersha To Buy Capitol Hill Suites in DC for $47.5M

January 21, 2011

Hersha Hospitality Trust agreed to purchase the Capitol Hill Suites in Washington, DC, for $47.5 million or $312,000 per door. The 152-room hotel will be real estate investment trust’s eighth hotel in the metropolitan area. The deal is set to close by the end of the first quarter. Hersha assumed a $32.5 million loan with a 5.81% interest rate and cash on hand. Starwood Hotels and Resorts Worldwide sold the Capitol Hill Suites to AEW Capital…

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Time Warner Cable Sells 19B In Bonds

October 11, 2010

Hersha Hospitality Trust has secured a senior secured revolving credit facility worth 250 million

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Patricia Handschiegel: The New Power Girls: The New Girl In A Man’s World – How Women Today Are Working In Male-Dominated Industries

June 28, 2010

Less than twenty years ago, it was a novelty to see a woman in the workplace in corporate America. It sparked an entire era (the 1980s) of cultural shift that was mirrored in movies, music and television shows like 9 to 5, Working Girl and Mr. Mom (and in part, the New Power Girls series). Today, women now make up for more than 60% of the American workforce. It’s no longer a novelty to see a woman in a corporate office. In fact, chances are, she is running some type of department – or the company itself. Yet as I cross the poolside deck of a chic Oceanside hotel for an industry event, I’m one of just three women total in attendance. I notice, but am non-pulsed. Business development and strategy hasn’t yet become a hot career for most women to select — I’m often the only girl in the room. Despite that more women than ever are in the business world today, there are still many markets that are considered male-dominated. It’s a topic that comes to mind as I chat with Nancy London, Vice-President of Global Brand Management for Westin Hotels & Resorts . The hotel and hospitality business is notorious for being mostly male-dominated. Nancy’s one of the few women at the top in the business. “It’s definitely different today,” Nancy begins as we start to talk about what it’s like to work within a predominantly male environment in today’s business. Though studies show that women still have a long way to go in terms of equality and other issues at work, women today have advanced further than ever before. It ranges from the roles we take to the opportunities available, to how we conduct ourselves and dress. In fact, the inherent traits and characteristics of the female gender can actually be to our advantage – and to the benefit of business. Today more than ever, women are aware of this and tapping it, whether they’re in male-dominated markets or not. Nancy shared that her natural-born intuition and an ability to read people, along with innate skills of hospitality and community, have helped her work within the hospitality business. She’s found that by tapping these skills in her interactions with male (and female) counterparts has opened new engagement and opportunities, to both her and the company’s benefit. It’s a bit of a different world than most women faced in the early days of women in business. Rather than keeping feminine traits and skills under wraps, women today lend it to directly benefit their work and business. It’s a sentiment I can attest to in my own company and work, whether I’m the only woman in the room or one of many. Power Girls know that being a woman in the business world can be to everybody’s advantage.

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Hersha Secures 225M Credit Facility

June 10, 2010

Hersha Hospitality Trust has secured a loan worth 225 million

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Starwood Raises 28B For RE Funds

April 2, 2010

& Companies in the News Starwood Capital Group has raised $2.8 billion for two of its real estate funds, Bloomberg reports. The investment firm has raised over $1.8 billion for Starwood Global Opportunity Fund VIII, while The Hospitality Fund II has

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Starwood Raises $2.8 Billion For Real Estate Funds: Report | Reuters

April 1, 2010

The Starwood Global Opportunity Fund VIII, which will target distressed debt and properties, has raised more than $1.8 billion. The Hospitality Fund II, which will invest in hotels, raked in almost $1 billion, the agency said. Starwood, led by

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Brazil’s Infrastructure Is in `Terrible Shape,’ Slowing Growth, Fraga Says

February 4, 2010

By Veronica Navarro Espinosa Feb. 4 (Bloomberg) — Brazil’s infrastructure is in “terrible shape” and the country isn’t saving and investing enough, holding back growth in Latin America’s biggest economy, said former central bank president Arminio Fraga . Fraga, who is now chairman of the BM&FBovespa SA exchange, said at a conference in New York that the economy has the potential to grow as much as 7 percent a year “if some things were to be done.” Brazil’s highest annual growth rate this decade was 6.1 percent in 2007. Economists forecast an expansion of 4.75 percent this year after growth of 0.15 percent in 2009, according to the median estimates in Bloomberg surveys. “We still have serious barriers to growth,” said Fraga, 52. “I have a particular concern with infrastructure, which is in terrible shape. We’ve not been keeping up with new needs, not even with maintenance.” Brazilian infrastructure projects may require as much as 160 billion reais ($85 billion) in financing in the next decade as the country expands transportation and boosts energy production, Ricardo Flores , vice president for credit at state- run Banco do Brasil SA said in a Feb. 1 interview in Sao Paulo. Infrastructure projects are luring investors as the country prepares for the World Cup in 2014 and the Olympics in 2016, Flores said. Offshore oilfield discoveries and a government program to expand housing will also help drive infrastructure spending, he said. Brasilia-based Banco do Brasil, Latin America’s biggest bank, estimates World Cup-related projects will require 99 billion reais in financing. That includes 4.6 billion reais for stadiums, 86 billion reais for subways, 8 billion reais for railroads and 400 million reais for the hospitality sector. Brazilian Cabinet Chief Dilma Rousseff said Jan. 13 the country will spend 19.5 billion reais to improve infrastructure and prepare for the World Cup. To contact the reporter on this story: Veronica Navarro Espinosa in New York at vespinosa@bloomberg.net

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Patricia Handschiegel: The New Power Girls: Women Entrepreneurs And Gender In Business

November 7, 2009

As I take a seat at the small table facing a packed room at L.A.’s Writer’s Guild for a panel on new media, I’m aware of three things. First, that there are two seasoned entertainment business executives seated who feel strongly about their views on the Internet. Second, that we’re probably more than likely going to disagree on a lot of things because I’m from the Internet side and see things from a different perspective. Third, that I’m the only woman on the panel with exception to the moderator. As someone who has spent most of her adult working life in Internet telecom and platform business, I’ve been the only woman in the room more often or not. It’s not an issue of gender for me but one of confidence. Will I be able to stand up in this conversation? If so, how? It’s a question that I ask myself countless times in business regardless of who or what gender is around me. Power Girls are women in a man – and women’s – world. Whether its speaking at an event, negotiating a deal, signing a partnership, selling a startup, taking a media interview, or any other element of owning and running a company, gender does not define who we are, what we need to do, and most of all, what we want to accomplish. It never has. “Women CEOs and founders are still pretty darn rare,” said Sarah Fell, CEO of Flexjobs.com . It doesn’t stop Fell from attending events and conferences, often where she’s one of few women. The trio behind Blogher has played the Silicon Valley funding game, notoriously said to be predominantly male. Pure Entertainment’s Deborah Krause is blazing the trails in the hospitality industry. Though there are still plenty of places where women in America face limitations and obstacles solely due to their gender, there are more women than ever working to change it. How do women entrepreneurs blaze the trail when in predominantly male industries and markets? “I don’t think about it, to be honest,” said Sortingwithstyle.com founder and CEO Sayeh Pezeshki who also pens the very popular Office Stylist blog. “I don’t think I’m in a man’s world or a women’s world. I work just as hard in any world.” Spoken like a true Power Girl! To hear what Meghan and I have to say about this week’s topic, visit NPGDaily.com here.

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Hotel company ready to grow

October 17, 2009

Share: Yahoo! Buzz Text tool name tool goes here Tags: business | investment | local | real estate Despite a credit crunch and a slowdown in travel, Raleigh-based Concord Hospitality Enterprises has stuck by its pledge to expand its portfolio to at least

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IHG continues expansion in Saudi Arabia

August 12, 2009

12 Aug 2009 InterContinental Hotels Group (IHG) has continued its expansion in Saudi Arabia by opening a new property in Al-Khobar. The 180-room Holiday Inn Al-Khobar Corniche is the hospitality gr…

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CalPERS Seeks Annual Board Elections for Hospitality Properties Trust

May 11, 2009

We are pleased to present headlines from around the globe… Headline: CalPERS Seeks Annual Board Elections for Hospitality Properties Trust CalPERS Seeks Annual Board Elections for Hospitality Properties Trust Original post: CalPERS Seeks Annual Board Elections for Hospitality Properties Trust

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