Lured by congressionally authorized tax credits and other financial incentives after Hurricane Katrina, a procession of developers announced plans to build high-rises.
Adding to the tension for commercial investors: Construction and insurance costs have soared.
At least one big plan — a $400 million proposal by Donald Trump to construct the city‘s tallest building — is going [...]
Leaders from the Industry Real Estate Finance Advisory Council talked money, debating public versus private ownership, capital availability and trends in luxury building at the Americas Lodging Investment Summit in January.
The public versus private discussion kicked off with Kathleen Taylor, president and c.o.o. of Four Seasons Hotels and Resorts, who spoke of the company’s November [...]
Strategic Hotels & Resorts, Inc. will report financial results for the fourth quarter and full year 2006 after the close of business on Wednesday, February 28, 2007. A quarterly conference call for investors and other interested parties is scheduled for 11:00 a.m. ET / 8:00 a.m. PT on Thursday, March 1, 2007. Management will discuss [...]
Strategic Hotels & Resorts, Inc. announced the appointment of William A. Prezant to Chairman of the company’s Board of Directors. Mr. Prezant, a current Director, also has been appointed Chairman of the company’s Corporate Governance and Nominating Committee.
Mr. Prezant, 60, is a Partner in the law firm of Prezant & Mollath and practices in [...]
Another high-end Asian hotel brand is eyeing Chicago. Reps of Raffles Hotels are in talks with Strategic Hotels about running a 200-suite Raffles in the Aqua tower planned at Columbus and Lake. Chicago-based Strategic, which has agreed to buy 15 floors in the Aqua building, also is talking with other chains, including Starwood Hotels.
Strategic Hotels & Resorts Inc. (BEE.N: Quote, Profile, Research) said on Tuesday it had closed its acquisition of the Fairmont Scottsdale Princess hotel in Arizona from an affiliate of Fairmont Raffles Holdings International, for $345 million, plus an adjacent 10-acre parcel of land for $15 million.
The company also said it had closed its purchase of [...]
