MHI Hospitality Corporation announced that the Company has completed the acquisition of the 172-room former Radisson Hotel in Hampton, Virginia for approximately $7.75 million, or $45,000 per room. The Company has also entered into a 10-year franchise agreement with InterContinental Hotels Group (IHG) [(LON: IHG) (NYSE: IHG - News; ADRs)] through its franchising entity, Holiday [...]

Miami has a new vice: bottom-fishing for condo bargains.
Some are searching for investment properties, confident home prices will eventually rebound. In hard-hit Miami-Dade County, condos originally costing as much as $1.4 million at the peak of the market now sell in some cases for $840,000, a 40 percent drop. Farther north, a coming auction at [...]

The Plaza Hotel has reopened after a three-year, $400 million renovation, bringing landmark luxury back to Manhattan.
“They say this place is the world’s most famous hotel,” said doorman Freddy Davila, who worked for the hotel for 15 years before it closed in 2005. As he welcomed hundreds of visitors up the red-carpeted steps and through [...]

Beth Collingz, Marketing director for PLC International Marketing Networks, which is exclusively marketing the Lancaster Suites and Lancaster – The Atrium Hotel Condominiums in Metro Manila, said “buyers are investors in hotel-condos, a real estate product that combines the flexibility of ownership of a condo in a hotel setting. Popular in the United States, Europe [...]

Aqua Hotels & Resorts has named Alvida Surpia general manager of the 80-room Aqua Coconut Plaza, the company said Monday.
Most recently general manager of Aqua Bamboo & Spa, Surpia will oversee overall operations of the property including its upcoming renovation process.
Prior to joining Aqua, Surpia held management positions with Ala Moana Hotel [...]

News of the arrests of three people so far in connection with an alleged Hallandale Beach condo kickback scheme is triggering suspicions among some South Florida owners about the honesty of their condo boards.
Residents who think their boards are doing something illegal have been seeking copies of the condo crimes screening checklist created to [...]

IT will be the highest building in Southampton - rising 83m into the sky to the tip of its white spire.
The 21-storey shimmering hotel, dubbed a “gateway to the city”, is set to become its latest landmark.
It is the centrepiece of a prestigious £110m development that has been given the go ahead by the city [...]

Like a cat with nine lives, the venerable downtown Aladdin Hotel will reopen — again — on May 4.
The event will mark the 193-room, 16-story tower’s second go-round as a Holiday Inn franchise after two stints as Embassy on the Park, a stretch under the Days Inn flag and most recently as the independent Citi [...]

On 17th January 2007, three days before the World Social Forum opened in Nairobi, a gentleman walked into the Jamia Plaza, which is located behind the Jamia Mosque in Nairobi’s Central Business District.
He walked around some of the almost 100 shops selling apparel, cosmetics, cell phones, fast foods and other merchandise on the ground floor [...]

New York City-based developer Related has razed the St. Regis Hotel and has started construction on its 42-story condominium project, called the Century. The 140-unit development, designed by Robert A.M. Stern, will feature condos from 2,400 sf to 10,000 sf on a four-acre site on the Avenue of the Stars adjacent to the Hyatt Regency [...]

Salhia Real Estate has announced recently its achievements and expansion plans in a recent assembly meeting, following results of fiscal year 2006 performance.
Mr. Ghazi Fahad Alnafisi, Chairman and Managing Director, said the end of the fiscal year 2006 announced the expansion in the scale of the company projects, which became bigger than before in the [...]

Phoenix-based Paradise Valley Medical Properties LLC acquired a 24,985-square-foot office medical condo in Phoenix for $3.24 million, or just less than $130 per square foot. The seller was locally based 46th & Bell LLC.
The condo is in Building 8 of the 45th Place office medical complex, at 4550 E. Bell Road. The facility was constructed [...]