Hotel Industry News - Development

Under terms of the deal, brokered by Hodges Ward Elliott, HEI will continue to operate the hotels on behalf of its new owners. - More

The Company funded the acquisitions with borrowings under its senior unsecured credit facility and from available cash, including cash from operations, the sale of Seaview and approximately $75.0 million in net proceeds from prior issuances of common shares under the Company's at-the-market offering program. - More

Hersha Hospitality Trust (NYSE: HT) announced that it has purchased the 228 room Hampton Inn, Washington, D.C. for approximately $73.0 million, or $320,000 per key excluding closing costs. - More

Customer Direct, LLC and Travel Tripper, LLC have created a new, best of breed call center offering for hotels in North America. The solution leverages Travel Tripper’s leading booking engine technology and Customer Direct’s award winning call center solution. - More

LaSalle Hotel Properties (NYSE: LHO) today announced that in three separate transactions it acquired the Hotel Monaco San Francisco for $68.5 million, the Westin Philadelphia for $145.0 million and the Embassy Suites Philadelphia - Center City for $79.0 million. - More

The hotel featuring 160 rooms is scheduled to open in 2013, in time for the 2014 Winter Olympics in Sochi. - More

Since the premiere edition of the 'Manhattan Hotel Report 2010,' dealing with the Manhattan hotel industry, was released by Domain Properties in February 2010, hotel sales continue to go through the roof in New York City. Domain Properties assists buyers and sellers of 'off market' hotels and offer direct discreet buyer to seller meetings. With ... - More

At least 200 hotels opened during Ireland’s decade-long economic boom, leaving a glut of rooms and mountain of debt as the number of visitors dwindles. While some establishments cut their losses and shut, others are lowering prices to stay in business and avoid repaying tax breaks if they were to close. - More

A recent favorable bankruptcy court ruling paved the way for the acquisition of W Union Square, a premium luxury hotel in New York, by Host Hotels & Resorts Inc. (NYSE: HST), the largest lodging real estate investment trust (REIT) in the U.S. A bankruptcy petition was filed in March 2010 by a junior mezzanine lender alleging that the hotel owed ... - More

The 30th Sheraton in Greater China Makes its Debut – The Sheraton Zhongshan Hotel - More