Property Types Hospitality
LaSalle Hotel Announces Succession Plan
June 2, 2008

The board of trustees of LaSalle Hotel Properties adopted a succession plan with respect to its chairman, chief executive officer and president, Jon Bortz, and its chief operating officer, Michael Barnello. Pursuant to the succession plan, Bortz will retire as CEO as of July 1, 2010, and Barnello will assume the role and duties of CEO at that time. The succession plan includes Bortz continuing in his role as chairman of the board after his retirement. In addition, Barnello was named president of LaSalle Hotel Properties effective immediately. At its July meeting, the board plans to increase the number of trustees to eight and elect Barnello as a tustee.


 
Recent Hospitality Headlines
Raleigh Marriott City Center Opens
Aug. 27, 2008
Privately held Noble Investment Group has announced the grand opening of the 400-room Raleigh Marriott City Center located at 500 Fayetteville St. and attached to the new 500,000-square-foot Raleigh Convention Center.
Holiday Inn Signs 203 Hotels in First Half of 2008
Aug. 26, 2008
Holiday Inn and Holiday Inn Express signed 203 hotels in the first half of 2008. Most of the hotels will be new-build properties, reflecting the brand's relaunch that started last year. Outside of the U.S., Holiday Inn is opening one hotel a day and signing two, while Holiday Inn Express averages two openings per week.
Wyndham to Open 20 Ramada Encore Hotels in South Korea
Aug. 26, 2008
Parsippany, N.J.-based Wyndham Hotel Group has made a move to increase the visibility of its Ramada properties in South Korea with the signing of an exclusive agreement with Seoul-headquartered AT Hotels Management to open 20 Ramada Encore destinations over the next six years. AT Hotels will develop and manage the properties, which will offer 80 to 200 guestrooms.
Hospitality Q&A:  PKF Capital's Eaton Says Industry Must Reinvent Wheel
Aug. 26, 2008
With a nearly 80 percent drop in hotel transaction volume compared to last year, many industry observers wonder when hotel sales volume will begin to rebound. Bob Eaton, addressing a conference sponsored by Hospitality Advisors in Honolulu recently, called on the hotel finance industry to “reinvent the wheel.” The executive managing director of PKF Capital, Inc., which provides real estate investment advisory services to the hospitality and leisure industries, recently talked about the environment for hotel financing, and what it will take to break the logjam.
Mohegan Sun First Segment of $925M Mohegan Sun Casino Expansion Wraps Up
Aug. 26, 2008
The Mohegan Tribal Gaming Authority, owner of Uncasville, Conn.'s Mohegan Sun, a 3 million-square-foot casino entertainment destination and one of only two authorized gaming operations in New England, has just completed the first phase of its $925 million Project Horizon expansion endeavor. The new addition to the 240-acre property is the 64,000-square-foot Casino of the Wind, which cost $116 million to complete.
 

 

Fund Invests $44M in Texas, Ohio Student Housing
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By Gail Kalinoski, Contributing Editor -- The Place/BV Student Housing Fund L.L.C. continues to make investments in student housing facilities across the United States, with two more announced today. The properties will be developed in Texas and Ohio for $44...

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By Barbra Murray, Contributing Editor -- In return for $126 million and change, Tel Aviv, Israel-based Elbit Imaging Ltd. has forked over part of its stake in a $3.4 billion mixed-use project portfolio in India via a new joint venture...

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By Tonie Auer, Southwest Correspondent -- Taking advantage of a good interest rate, Trumbull Property Fund refinanced six Class A multi-family properties throughout the country as part of a $207 million refinancing effort. The Hartford office of Holliday Fenoglio Fowler...

REal Talk with Adam Perrotta-Tuesday
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