IN 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 [...]
Is the housing market on the verge of recovering? Is it recovering already? If you’re not sure whether you believe the economists and pundits who think they can see the future, here are some tools that will help you make up your own mind.Pending Home SalesAccording to the National Association of Realtors, pending home sales, [...]
Read moreThe bankruptcy case of Tousa Inc. could force hundreds of construction-related contractors, including some in Central Florida, to repay money they earned more than two years ago from the South Florida-based homebuilder and subsidiaries such as Engle Homes.
For instance, a longtime Orlando development-landscaping business, Concepts in Greenery LLC, is among more than 1,000 Florida companies [...]
(bit of a surprise, since India’s hospitality industry seems to be doing well relative to other places… bc)
DLF, India’s largest real estate company, has appointed Goldman Sachs as an advisor as it attempts to fund buyers for Aman Resorts, a luxury hotel chain it had acquired in November 2007 for $400 million.The company, which was [...]
Dubai announced a $9.5bn restructuring proposal for troubled conglomerate Dubai World on Thursday, including a commitment to pump $8bn into Nakheel, its troubled development arm.The government, which said the plan would take several months to implement through talks with creditors, will fund the new business plan with the $5.7bn left over from the $10bn bail-out [...]
Read more“The entire scene now depends on the outcome of the restructuring negotiations between Dubai World and the banks,” said Dheeraj Lakhwani, banking analyst at Prime Emirates. “Only then will confidence return and banks can decide how to pursue their lending strategy in UAE.”
Moody’s estimated Dubai World owes UAE banks $15 billion (Dh55 billion) based on [...]
Financially hard-hit Dubai World has lost another trophy property to a lender. This time around it was the legendary, 94-year-old, 300,000-square-foot, 10-story Knickerbocker Building in Manhattan’s Times Square district.Danske Bank A/S of Copenhagen took back the former 300-room hotel property this week after Istithmar World Capital, the private-equity arm of the Dubai government’s investment [...]
Read moreU.S. business bankruptcies rose again in last month, marking the fifth-straight February that such filings have increased, according to a bankruptcy data provider on Tuesday.Companies from a range of industries, including video rental chain Movie Gallery Inc MVGRQ.PK, radio network Air America and luxury ski resort developer East West Resort Development V LP LLLP, were [...]
Read moreEast West Resort Development V LP LLLP, a U.S. luxury residential community developer, filed for bankruptcy protection early on Tuesday, saying it was unable to secure additional capital from its current lenders to fund development and other expenses.In court filings, the company said it was formed to develop residential and commercial real estate projects on [...]
Read moreThe Forkosh Development Group wants millions of dollars worth of help in suburban Miami.
The developer seeks an equity partner – with $30 million to $40 million – to help jumpstart the stalled 52-story Solis Resort Spa & Residences project in Sunny Isles Beach, reports trade pub Commercial Mortgage Alert.
Forkosh has already poured some $53 million [...]
Internet Marketing news MarketingYak