hotel financing

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My Thoughts on Dubai

Just some of my thoughts on Dubai’s monetary woes..

Nov. 30, 2009 | Andrew Calvo | 4 comments | Continued
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Echelon Place On Hold For At Least 3 Years

Boyd Gaming announced that they will not be resuming construction on Echelon Place on the Vegas Strip for at least 3 to 5 years.

Oct. 28, 2009 | Andrew Calvo | 0 comments | Continued
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MGM Mirage Cutting City Center Project Condo Prices by 30%

MGM Mirage has finally bit the bullet and is reducing the prices of their condos at City Center by 30% – this seems to include both condos that have contracts out as well as condos not yet spoken for. This should speed up the process of closing on the existing contracts, as well as bringing new customers into the buying table.

Oct. 6, 2009 | Andrew Calvo | 0 comments | Continued
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Starwood Capital Shows Interest In Extended Stay Hotels

Its been awhile since if written anything – but I think its time to start up again.
Today’s big story (in my mind at least) is a Wall Street Journal article today that brought to light Starwood Capital’s new found interest in the Extended Stay bankruptcy battle. (I’m writing this directly from my blackberry so I [...]

Sep. 30, 2009 | Andrew Calvo | 0 comments | Continued
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Starwood Looking To Sell Societe Du Louvre Hotels Piece by Piece

Starwood Capital’s sale of the Hotel de Crillon is on rocky ground as the purchaser – JJW Hotels and Resorts looks to be unable to complete the financing of the deal. Starwood Capital also seems to be heading toward selling each property individually so as to get a better return on investment for its investors due to the economy not providing the returns Starwood had once expected.

Sep. 6, 2009 | Andrew Calvo | 0 comments | Continued
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Hilton Reportedly Having Breakup Talks With Blackstone

Amazing what 8 months can do in this economy. In January, Hilton Hotels looked to be the next darling of the hotel industry – not only was it owned by a cash rich parent – The Blackstone Group – who seemed to be willing to do whatever it would take to invest in the brand and make it #1, and was just about to launch two new brands – Home2Suites and Denizen. Hilton’s re-invigoration was going smoothly, Blackstone really seemed to be making an effort to ensure the viability of the company into a long term asset. Now today two newspapers are reporting that Hilton maybe broken up.

Aug. 10, 2009 | Andrew Calvo | 0 comments | Continued
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Robert FX Sillerman Admits Defeat

Robert Sillerman is a billionaire who decided to get into real estate investing, and has failed miserably – shockingly he has admitted defeat and is getting out of real estate.

Jul. 30, 2009 | Andrew Calvo | 0 comments | Continued
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Red Roof Inn Defaults On Property Loans, Claims Ridiculous Reason For Default

Red Roof Inns defaulted on $367 million of mortgage debt recently. Fortunately this is only affecting 1/3rd of the Red Roof Inn properties, but ironically – its all the company owned properties. And one of the reasons for default is so ridiculous I think it’s a ploy to convince the banks to refinance their loans with better terms.

Jun. 25, 2009 | Andrew Calvo | 3 comments | Continued