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The Meadowland’s Xanadu Getting New Name and Developer

One of the biggest developments on the East coast that was caught up in the recession is Xanadu located in the Meadowlands, adjacent to the Giants Stadium and the New Jersey Turnpike. First planned almost 10 years ago, it was finally built, but never finished. It’s a huge monstrosity that takes up over 2.4 million [...]

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 [...]

Starwood Capital Makes Second Entry into NYC Hotel Market in Two Months

Now this is interesting.. Last week, everyone was reporting how Starwood Hotels would be building a hotel at the Donnell Library in New York City in conjunction with Tribeca Associates, as long as Orient-Express would give up their development rights to the property.. Today, according to a press release from Orient-Express, it isn’t Starwood Hotels – but [...]

Caesars Centurion Tower Changing to Nobu Hotel

Caesars Palace in Las Vegas announced today they are converting their old and unloved Centurion Tower into a boutique hotel called Nobu Hotel, based on the famous Nobu Restaurant that has a number of locations around the world. It’s going to be the first property from Nobu Hospitality (owned by Nobu Restaurant Group) with the [...]

Starwood Capital Buys 1414 Ave of the Americas for Hotel Conversion

In the last few hours my email inbox has been bombarded with news that Barry Sternlicht’s Starwood Capital has purchased 1414 Ave of the Americas in Manhattan for a conversion into a hotel. This is pretty exciting news because its one of the first purchases that Starwood has made in years on a property to [...]

Revel AC Apparently Revived – By NJ’s Governor Christie

Today’s NY Post has a story about NJ’s Governor Christie successfully persuading Morgan Stanley to give it another shot at funding the unfinished Revel project on the boardwalk in Atlantic City. Morgan Stanley — after failing to raise money for Revel last month — is launching a new $1.15 billion debt offering so Revel can [...]

Hilton & Starwood Hotels Finally Settle Denizen Debacle

Hilton & Starwood Hotels has finally settled their lawsuit which has been going on for almost 2 and a half years. Here is Hilton’s Statement In the lawsuit, originally filed in mid-2008, Starwood accused Hilton of stealing thousands of confidential documents and material which had information on how to create, brand and operate a boutique/lifestyle [...]

Ian Schrager is Back.. Again.. With Schrager Hotels

Ian Schrager is back – again – with a new hotel company and two new hotel brands, this is in addition to his existing properties with Marriott’s Edition brand. Schrager always alluded to not being done in the hotel industry, and even when his partnership with Marriott was announced, he was very forthcoming about stating [...]

Cosmopolitan Las Vegas – Finally Open!

The Cosmopolitan Las Vegas’s opening today is being written about, and broadcast on almost every major and minor news/blogging outlet in the world today (along the Bellagio’s robbery) – I’ll save my readers from the fluff of how great the property is and how many restaurants it has and the like, if you’re looking for [...]

UK Metro Bank’s Launch Success

Three months ago, MetroBank UK finally opened its doors after a long ramp up period, and a lot of excitement from the press and the public just interested in what this new banking concept is all about. Ever since I started this blog I’ve made posts here and there about Vernon Hill’s banking ventures – [...]