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Secretary of Labor Eugene Scalia (Scalia by Samuel Corum/Getty Images; Noam Galai/Getty Images; Mike Pont/Getty Images)

Hospitality, retail led job gains in July

The hospitality, leisure and retail sectors led job gains in July, with unemployment levels improving slightly overall. Payroll employment rose by 1.8 million in July and the unemployment rate declined to 10.2 percent, following...

Hospitality, retail led job gains in July
Hilton CEO Chris Nassetta (Getty, iStock)

“We’re not crying in our milk”: Hilton eyes new hotels despite $432M loss in Q2

Hilton Worldwide Holdings pressed on with developing new hotels despite heavy losses last quarter. The hotel giant opened 60...

“We’re not crying in our milk”: Hilton eyes new hotels despite $432M loss in Q2
Ben Ashkenazy, CEO of Ashkenazy Acquisition and the Surrey Hotel at 20 East 76th Street (Google Maps)

Ashkenazy debt in doubt as trustee moves to end Surrey Hotel ground lease

In late April, Ashkenazy Acquisitions took the unusual step of pushing the Surrey Hotel into bankruptcy to protect its...

Ashkenazy debt in doubt as trustee moves to end Surrey Hotel ground lease
Bryant Park Hotel at 40 West 40 Street (Google Maps; iStock)

Bryant Park Hotel being marketed as office space

The coronavirus pandemic is forcing hotel owners to consider new strategies for their properties — including turning them into...

Bryant Park Hotel being marketed as office space
Hutton Hotel in Nashville and The Jewel Runaway Bay Beach Resort & Waterpark in Jamaica (Hutton, Booking)

Desperate hotel owners selling at discounts up to 30%

Cash-strapped hotel owners are selling properties at discounts and agreeing to sky-high interest rates with federal aid about to...

Desperate hotel owners selling at discounts up to 30%
How will NYC real estate fare without 65 million tourists?

How will NYC real estate fare without 65 million tourists?

Last year, travel organization Worldstrides organized experiences for 550,000 students and generated $650 million in revenue. But it was...

How will NYC real estate fare without 65 million tourists?
Mayor Bill de Blasio is pushing for a proposal that would severely limit hotel construction throughout the city (Getty, iStock)

Mayor still bent on limiting new hotels: sources

As hotel owners stare down dramatic drops in revenue and ponder an uncertain future, Mayor Bill de Blasio is...

Mayor still bent on limiting new hotels: sources
André Balazs and the Chateau Marmont (Getty, Wikimedia) 

André Balazs plans to convert hotels into private clubs

The coronavirus may have made travelers wary of staying in a hotel with strangers, but hotelier André Balazs is...

André Balazs plans to convert hotels into private clubs
Maefield Development’s Mark Siffin and 20 Times Square (Google Maps, iStock)

TRD Insights: Untangling Times Square Edition’s “Gordian Knot” of debt claims

The past eight months have been a wild ride for Maefield Development’s $2.4 billion mixed-use hotel and retail project...

TRD Insights: Untangling Times Square Edition’s “Gordian Knot” of debt claims
U.S. Rep. Alexandria Ocasio-Cortez (Getty)

AOC blasts hospitality REITs for seeking federal aid to pay dividends

UPDATED, July 16, 2020, 5:56 p.m.: U.S. Rep. Alexandria Ocasio-Cortez is taking aim at real estate investment trusts that...

AOC blasts hospitality REITs for seeking federal aid to pay dividends
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