Cheers: Soho Properties secures $317M refi on Times Square Margaritaville
Sharif El-Gamal’s Soho Properties has closed on a $317 million refinancing of its recently completed Margaritaville Resort Times Square....
Hotel Market
The Latest
Jason Pomeranc to launch new Theater District hotel
Hotelier Jason Pomeranc is opening a new hotel in the fall titled CIVILIAN. Located at 305 West 48th Street,...
Pandemic pricing arrives to middle of i-sales market
The effects of the pandemic on real estate were apparent last week in New York City’s mid-level investment-sales market...
City Council bill would force hotels to pay severance to laid-off workers
As if New York City hotels have not endured enough during the pandemic, a new bill would put them...
National
AvantStay launches brokerage arm
In a move that goes beyond rentals, AvantStay has launched its brokerage arm. The short-term rental company, which now has over 600 homes throughout the U.S., announced that it will hire real estate agents...
Hilton timeshares arm buys distressed Midtown hotel for $58M
Timeshare operator Hilton Grand Vacations now owns the site of its planned club dubbed “The Central” in Midtown after...
National
Hyatt Hotels buys Apple Leisure Group for $2.7B
Hyatt Hotels is buying Apple Leisure Group, an asset-light resort operator, from two private equity firms, with an eye...
Chicago Issue
Can Trump International Chicago bounce back?
Condo owners at Trump International Chicago Tower & Hotel have long known that luxury downtown apartments in a tower...
Midtown’s Distrikt Hotel heads for foreclosure as receiver named
The developer of a troubled Midtown Manhattan hotel is up against the ropes. A New York State Judge this...
Los Angeles Issue
How the pandemic both hampered and aided LA hotel development
Last May, Lightstone Group started work on its $500 million, 755-key hotel project in Downtown Los Angeles, a dual-branded...