With a mid-July deadline looming for a big payment to its lenders, the Indian tribe that runs the nation's largest casino is in talks with banks and bondholders about how best to restructure more than $2 billion in debt that it can no longer afford.The Mashantucket Pequot Tribal Nation, which owns and operates Foxwoods Resort [...]
Read moreInvestors holding the $183 million mortgage on the Four Seasons Resort and Club Dallas now own the property after prevailing in a foreclosure auction this week.
US Bank, acting on behalf of investors that own the resort’s securitized mortgage, on Tuesday won the auction with a bid of $122 million, according to Foreclosure Listing Service Inc., [...]
Hotel operator Gaylord Entertainment Co (GET.N) expects the total cost to rebuild its flood-hit properties in Nashville, Tennessee to be between $215 million and $225 million, and said it would cut 1,743 jobs at its Opryland hotel.
Gaylord also expects to incur a non-cash write-off related to the impairment of certain assets and generate a significantly [...]
Seven Canyons golf resort is now in bankruptcy.Sedona Development Partners filed a petition with the U.S. Bankruptcy Court on Thursday, May 27, to restructure its finances and take advantage of bankruptcy protection from its creditors.Headquartered in Scottsdale, Sedona Development Partners is the parent company of Seven Canyons, a 200-acre private residence golf resort community located [...]
Read moreIn an unprecedented turn of events in today’s economic times, an upscale development on the Haywood/Jackson county line that hit rocky financial waters has made a comeback. After a six-month hiatus, Balsam Mountain Preserve has resumed club operations and marketing and sales of its remaining 120 home sites.
Balsam Mountain Preserve’s former owner, Chaffin/Light Associates, [...]
The last holdout in a long-running land dispute with the developer of an NBA arena agreed Wednesday to sell his home on the site for $2.4 million more than he paid for it a few years ago.Daniel Goldstein and his family agreed to leave their Brooklyn condo by May 7 in a settlement in court [...]
Read moreBillionaire Steve Wynn opened his latest hotel and casino in Macau Wednesday and said he aims to start building a massive new resort in the Chinese gambling mecca next year.
Wynn said the project — to be located in the territory’s Cotai area, a piece of reclaimed land seen as the next great hope for global [...]
The St. Joe Co. today announced the VentureCrossings Enterprise Centre at West Bay, a 1,000-acre mixed development of office, retail, hotel and industrial to be built near the Northwest Florida Beaches International Airport opening in May.
The development is the first in the 75,000-acre West Bay Sector Plan near the airport, the company announced.
The new airport [...]
(project in British Columbia… bc)
The developer of the new resort development The Cottages at Cultus Lake is giving potential new buyers a chance to beat the HST deadline this summer.
Jon Van Geel of Cultus Country Investments told the Progress they’ve brought in 100 extra construction workers to fast-track the immediate construction of 20 to 30 [...]
Goldman Sachs Mortgage Co., the lender to the owners of Florida’s Sawgrass Marriott Resort, asked a bankruptcy court for permission to take over and sell the company’s assets.
Goldman yesterday asked U.S. Bankruptcy Judge Paul M. Glenn in Jacksonville, Florida, to lift the automatic stay, a part of the bankruptcy code that shields a company from [...]
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