(I’d rather watch this story for a while longer, than actually act on it… bc)
High-end retailers Nordstrom and Neiman Marcus are reporting stronger sales. At the Ed Morse car lot in Brandon, Cadillac sales in April nearly tripled from a year ago, while its sister dealership in Tampa is having a run on the high-end [...]
Small hoteliers are taking it on the chin, with at least four in the Tampa Bay area seeking bankruptcy protection since March.
Last week, the owners of a 75-room Hampton Inn, 11740 Tampa Gateway Blvd. in Seffner, filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court in Tampa. Chapter 11 allows a company to reorganize [...]
It’s a bit like guessing how many pennies are in a gallon jug at the state fair, but housing analysts keep trying to count how many foreclosed homes banks and mortgage investors own.
Why should we care? Unlike at the state fair, there is no prize for guessing right. Still, if we can track the number [...]
Four Seasons Hotels & Resorts, famed for its top-flight hotels, has agreed to skimp on some of its signature features, bowing to pressures by some financially strapped owners of properties that bear its name.
Many Four Seasons hotels have stopped displaying huge vases of fresh flowers. Others are closing their high-end restaurants on slow days. And [...]
Currently working with several funds looking for acquisition of condo projects, busted subdivisions, second home communities, golf properties. Distressed assets. Criteria: most infrastructure in place. Range 25MM to 85MM. For more information, email. All inquiries confidential.
Read moreLuxury jeweler Tiffany & Co. says its first-quarter sales rose 22% to $633.6 million, with most regions and product categories showing gains. The better-than-forecast results pushed net earnings up 135% to $64.4 million. Overall, same-store sales increased 10%, and in the Americas, they rose 15%. (Sales at its New York flagship jumped 26%.)
“Our business performed [...]
The shadow inventory of homes with delinquent mortgages yet to move through the foreclosure process would take 47 months to clear at the current sales rate in the market, according to a newly-published housing finance report from Morgan Stanley (MS: 26.11 +1.40%).
The report which takes a broad overview of the market, shows the trend for [...]
Tax credits and historically low mortgage rates have failed to lift home prices so far this year. Prices fell 0.5 per cent in March from February, according to the Standard & Poor's/Case-Shiller 20-city index released Tuesday .
The co-creator of the Case-Shiller index, who predicted in 2005 that the housing bubble would burst, is raising concerns [...]
Despite all kinds of mixed economic tea leaves, a new study of consumer perception from Deloitte indicates that most Americans do believe financial recovery has arrived, and that view is especially strong among affluents.”Consumer confidence is really strengthening,” Scott Erickson, a partner in the firm's retail practice, tells Marketing Daily. “And people with higher incomes [...]
Read moreIN the depths of the recession, a cartoon made the rounds in the executive offices of the Ritz-Carlton hotel chain. “It showed a guy trying to change the name on the sign above his hotel from Ritz to Fritz,” said Simon Cooper, the president of Ritz-Carlton, which is the top luxury brand of Marriott International.
While [...]
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