Hospitality/Fractional Ownership
Hospitality: Four Seasons Hotel said to be hitting the block

Hospitality: Four Seasons Hotel said to be hitting the block

Posted 02.11.2010 | Categories: Hospitality/Fractional Ownership | No Comments

Even multi-billionaires like Ty Warner are not immune to the latest economic conditions. Mr. Warner, who made his fortune manufacturing Beanie Babies, owns the Four Seasons Hotel New York—but maybe not for much longer. He is in negotiations to sell the posh property to a group of investors, according to several news reports.

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Fractional: Welcome to Your Condo. Please Don’t Stay.

Posted 02.03.2010 | Categories: Hospitality/Fractional Ownership | No Comments

The condo in Rancho Palos Verdes, Calif., has three bedrooms, three bathrooms and sweeping ocean views. It can be yours for just under $2.6 million. There’s one catch: If you buy it, you will be able to use it for only 60 days a year and no more than 29 days in a row.

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Hospitality: Four Seasons Resort in Irving, home of Byron Nelson golf tournament, is posted for foreclosure

Hospitality: Four Seasons Resort in Irving, home of Byron Nelson golf tournament, is posted for foreclosure

Posted 01.18.2010 | Categories: Hospitality/Fractional Ownership | 1 Comment

One of the Dallas area’s most exclusive hotel properties is facing a possible foreclosure. Lenders have filed to foreclose on the Four Seasons Resort and Club Dallas at Las Colinas, a 400-acre hotel, spa and golf club in Irving. The more than 400-room hotel is one of the state’s top-rated accommodations and hosts the annual […]

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Hospitality: Distress Calls Begin to Go Out

Posted 01.07.2010 | Categories: Hospitality/Fractional Ownership | No Comments

Big-name investors have swooped in on two high-profile commercial real-estate assets in a sign that activity is returning to the investment-property market. Private-equity firm CIM Group has teamed up with New York developer Harry Macklowe to help him regain control of what is regarded as one of the most valuable vacant lots in the world, […]

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Fractional: Hamilton Hall to become PRC?

Posted 12.14.2009 | Categories: Hospitality/Fractional Ownership | 1 Comment

US plumbing magnate Herb Kohler has acquired Hamilton Hall in St Andrews, described as “one of the most photographed buildings in the world of golf”, leading to speculation that it may be transformed into a private residence club. Kohler recently refurbished Riverbend, an estate home constructed in 1923 by Herb’s ancestor Walter J. Kohler, then […]

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Hospitality: Gansevoort South hotel goes from buzz to bust

Hospitality: Gansevoort South hotel goes from buzz to bust

Posted 12.11.2009 | Categories: Hospitality/Fractional Ownership | 1 Comment

Once the haunt of celebrities, Miami Beach’s Gansevoort South hotel will soon be sold at auction, a victim of foreclosure. Good buzz was no match for bad debt at the Gansevoort South, a Miami Beach hotel popular with stars now destined to be sold at a foreclosure auction. Credit Suisse announced Wednesday morning an auction […]

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Hospitality: LEM acquires W Union Square for $2 million at mezz auction

Hospitality: LEM acquires W Union Square for $2 million at mezz auction

Posted 12.08.2009 | Categories: Hospitality/Fractional Ownership | No Comments

LEM Mezzanine, a Philadelphia-based private equity fund, acquired Istithmar’s former W New York – Union Square hotel for $2 million, plus the assumption of $212 million in debt, in a foreclosure auction held in Manhattan this morning, marking the first major asset to be sold since the November debt crisis emerged in Dubai. LEM bagged […]

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Fractional: Potential Successor to Buffett Has Tough Task

Posted 12.07.2009 | Categories: Hospitality/Fractional Ownership | No Comments

Maybe Warren E. Buffett should have stuck with railroads. He once declared after an ill-fated bet on US Airways that he would resist any further urges to invest in airlines. But he ventured anyway into a high-end business that is an airline competitor of sorts — NetJets. Right about now, he may wish that he […]

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Hospitality: Icahn Outbids Penn National Gaming for Starting Bid on Fontainebleau

Posted 11.24.2009 | Categories: Hospitality/Fractional Ownership | No Comments

Financier Carl Icahn outbid Penn National Gaming Inc. Monday to place a starting bid of $155 million for the Fontainebleau, a stalled hotel-casino project in Las Vegas whose construction is expected to cost nearly $3.5 billion. In U.S. Bankruptcy Court in Miami, a subsidiary of Mr. Icahn’s firm, Icahn Enterprises LP, outbid Penn National $155 […]

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Hospitality: Vulture Funds Lie Low as REITs Move in to Nab Hotel Deals

Posted 11.24.2009 | Categories: Hospitality/Fractional Ownership | 1 Comment

The U.S. economy has been downright inhospitable to the hospitality industry.  Not only have hotel sales plunged to a fraction of last year’s deals, but the sector has also been whiplashed by declining occupancy levels and room rates. In 2008, the volume of hotel sales reached $10.7 billion for the year, but by the end […]

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