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Last Updated - Thursday, July 30, 2009>July 30 (Bloomberg) — Marriott International Inc., the largest U.S. hotel chain, plans to expand by taking over the operation of hotels from competitors unable to pay or refinance debt, Chief Financial Officer Carl Berquist said.“There’s a lot of money on...

Last Updated - Thursday, July 30, 2009>Budget hotel chain Travelodge is to expand by a further six properties in the capital in a deal worth £84m, which will make it the largest hotel brand in London by 2012.The six London hotel exchanges will be a mixture of office developments and new-builds across five London boroughs in Drury Lane, Covent Garden; Ealing; Stratford;...

Last Updated - Thursday, July 30, 2009>The former Le Meridien Copacabana hotel in Rio de Janeiro, Brazil, has been sold for around R$170m (£54.5m).The 38-floor property is one of the most famous landmarks in Rio de Janeiro and is situated in a prime position overlooking the Copacabana and the Atlantic Ocean with direct views of the Sugarloaf mountain and the Christ...

Last Updated - Monday, July 27, 2009>Hotels chain Jurys Inn has said it has secured £60 million in funding to support further growth in the UK.The mid-market operator, which has 21 hotels in the UK and seven in Ireland, attracted £15m each from major shareholders — the Oman Investment Fund and investment business Quinlan Private — with the remainder in debt. Read...

Last Updated - Monday, July 27, 2009>LAS VEGAS — As a 490-room tower opens at the Hard Rock Hotel and Casino just east of the Las Vegas Strip this week, hotel operators citywide are struggling to fill existing rooms and staggering at the prospect of 10,000 more coming online this year and next.“It’s (the) wrong place, wrong time,” said Randy...

Last Updated - Saturday, July 25, 2009>Worldwide hotel transaction activity is showing green shoots of recovery, according to new figures released by of Jones Lang LaSalle Hotels. Following five consecutive quarters of sharp contraction, the second quarter of 2009 registered a 3 percent increase in activity.Global hotel transactions during the first half of 2009 totalled...

Last Updated - Saturday, July 25, 2009>As we now live through the current economic recession and its impact on lodging revenues and expenses, it has become evident that investors anticipate continued declines in operating incomes and resulting loss in property values through the remainder of 2009 and into 2010. That being said, investors also expect the industry to...

Last Updated - Friday, July 24, 2009>Not surprisingly, a panel of hotel valuation experts at the Midwest Lodging Investors Summit was unable to definitively answer the question embedded in the session’s title: What Is Your Hotel Worth Today? It wasn’t their individual or collective faults, however; the truth is that no one can say for sure what any particular hotel...

Last Updated - Wednesday, July 22, 2009>Officials of Marshall Hotels & Resorts, Inc., a leading, Maryland-based hotel management and services company, today announced the company has added five management contracts in the past 120 days, and expects to add as many as four more within the next 60 days. The hotels range from upper upscale to focused-service brands...

Last Updated - Monday, July 20, 2009>It will be London’s biggest ever hotel in a generation, boasting 1,021 guest rooms in a dramatic glass-clad heart-shaped building at the southern end of Westminster Bridge.When the £350m project is finished early next year, opening onto a new landscaped and pedestrianised area beside the former Greater London Council’s...

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