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Poor hospitality: Hotel owners in big cities hit major tipping point

Poor hospitality: Hotel owners in big cities hit major tipping point

All of the lights in the Hilton Times Square have been pitch black for weeks — one of several...

Poor hospitality: Hotel owners in big cities hit major tipping point
Starwood CEO Barry Sternlicht, InTown Suites CEO Ash Kapur and 1071 NE 28th Avenue in Homestead (Getty, Google Maps)

Starwood scores $265M refi for portfolio of InTown, Uptown hotels

Starwood Capital Group secured $265 million in refinancing for a portfolio of 58 extended-stay and midscale hotels nationwide, representing...

Starwood scores $265M refi for portfolio of InTown, Uptown hotels

The London West Hollywood in Beverly Hills and InterContinental Times Square in New York (right) (Google Maps; iStock)

Hotels pivot to office space to stanch losses

Hotels across the country are pivoting to become offices as a way to survive the pandemic. In New York,...

Hotels pivot to office space to stanch losses
Leisure and hospitality led September job gains, but the last employment report before the presidential election shows slowing economy overall (Getty)

Leisure and hospitality gain 318K jobs in September as economic growth lags

The leisure and hospitality industry led employment gains in September with 318,000 jobs added to the economy, trouncing the...

Leisure and hospitality gain 318K jobs in September as economic growth lags
Highgate’s Mahmood Khimji (left) and Mehdi Khimji (Credit: Kelly Taub/BFA.com)

Colony deal puts Highgate among biggest hotel owners

  Highgate’s deal to purchase a $2.8 billion portfolio of hotels from Colony Capital will catapult the company into...

Colony deal puts Highgate among biggest hotel owners
Donald Trump and the Trump National Doral golf course (Getty, Trump Hotels)

In the rough: Trump’s golf clubs and resorts have lost $315M

President Trump’s golf club and resort properties have long been in the financial rough. Since 2000, Trump has reported...

In the rough: Trump’s golf clubs and resorts have lost $315M
The pandemic is leading to huge losses in value for hotels, malls and other commercial properties (iStock)

Troubled commercial properties see values fall 27%: report

Commercial properties such as hotels and malls may have lost as much as a quarter of their value as...

Troubled commercial properties see values fall 27%: report
Blackstone's Frank Cohen and Amazon CEO Jeff Bezos with the HQ2 site (Getty; Blackstone; Google Maps)

Amazon grows HQ2 site near DC with hotel buy

Amazon’s massive HQ2 development outside Washington D.C. may be expanding. The e-commerce leviathan bought a Residence Inn by Marriott...

Amazon grows HQ2 site near DC with hotel buy
Tom Barrack and Mahmood Khimji (Getty)

Colony sells most of its hotel biz to Highgate in $2.8B deal

Tom Barrack’s Colony Capital is selling the majority of its beleaguered hotel business to private investor Highgate Hotels in...

Colony sells most of its hotel biz to Highgate in $2.8B deal
With about $23 billion of hotel-related CMBS loans in forbearance, more lenders are looking to offload those mortgages. (iStock)

Hotel industry is in trouble and more lenders want out

As hotels across the U.S. continue to suffer — average occupancy is just under 50 percent — an increasing...

Hotel industry is in trouble and more lenders want out
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