Category: hotel financing
CerXus Makes Mistake By Rejecting Starwood Property Trust Takeover Attempt
Starwood Property Trust put another company on the map this week – Crexus Investment Corporation – by making an unsolicited bid to purchase the entire company at a 20% premium to their current stock price. What did Crexus’ board decide to do? Reject it. Why would they do that? What company would not want to [...]
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.
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.
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.
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.
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